In:
Macroeconomic Dynamics, Cambridge University Press (CUP), Vol. 24, No. 5 ( 2020-07), p. 1042-1072
Abstract:
In this paper, we study the relationship between changes in the world interest rate and within-country inequality during the 1985–2005 period in which the world interest rate sharply declined. In line with the predictions of the seminal model of Galor and Zeira [Income distribution and macroeconomics. Review of Economic Studies 60, 35–52], the analysis suggests that the decrease in the world interest rate is associated with a decrease in inequality in poor countries and an increase in inequality in rich ones.
Type of Medium:
Online Resource
ISSN:
1365-1005
,
1469-8056
DOI:
10.1017/S1365100518000652
Language:
English
Publisher:
Cambridge University Press (CUP)
Publication Date:
2020
detail.hit.zdb_id:
1501533-6
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