التفاصيل البيبلوغرافية
| العنوان: |
Inequality and Exchange Rate Movements in an Open-Economy Macroeconomic Model. |
| المؤلفون: |
Carnevali, Emilio1 (AUTHOR) emilio.carnevali@northumbria.ac.uk, Ruggeri, Francesco2 (AUTHOR), Passarella, Marco Veronese3,4 (AUTHOR) |
| المصدر: |
Review of Political Economy. Apr2024, Vol. 36 Issue 2, p722-760. 39p. |
| مصطلحات موضوعية: |
*FOREIGN exchange rates, *MACROECONOMIC models, *CONSUMPTION (Economics), *DISPOSABLE income, *WEALTH distribution, *FREE trade |
| مستخلص: |
This article presents a complete macroeconomic (SFC) model to study income and wealth distribution in an open economy. We argue that exchange rates and the stock of foreign debt play a major role in shaping inequality across and within countries. Using the 'relative income hypothesis', we show that debt-financed consumption of low-income households can affect both total income and the disposable income of high-income households in the medium run. In addition, while higher inequality is detrimental to the domestic economy, it can benefit trading partners. [ABSTRACT FROM AUTHOR] |
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| قاعدة البيانات: |
Business Source Index |