Austerity, inequality, and private debt overhang
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DOI: 10.1016/j.ejpoleco.2018.08.003
Abstract: Using panel data of 17 OECD countries for 1980-2011, we find that the distributional consequences of fiscal consolidations depend significantly on the level of private indebtedness. Austerity leads to a strong and persistent increase in… read more here.
Keywords: inequality; austerity; debt; private debt ... See more keywords