Does inequality lead to a financial crisis?

The recent global crisis has sparked interest in the relationship between income inequality, credit booms, and financial crises. Rajan (2010) and Kumhof and Rancière (2011) propose that rising inequality led to a credit boom and eventually to a financial crisis in the US in the first decade of the 2...

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Veröffentlicht in:	Journal of international money and finance 2012-12, Vol.31 (8), p.2147-2161
Hauptverfasser:	Bordo, Michael D., Meissner, Christopher M.
Format:	Artikel
Sprache:	eng
Schlagworte:	Asset pricing Banking Credit Credit booms Credit market Economic crisis Financial crises Financial crisis Financial de-regulation Income inequality Inequality Interest rates Interest rates-credit Manycountries Redistribution Studies Top incomes U.S.A
Online-Zugang:	Volltext
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