Do rising top incomes fuel credit expansion?
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DOI: 10.1016/j.econlet.2020.109539
Abstract: This paper provides an empirical assessment of the effect of income inequality on credit dynamics in 12 advanced economies over the period 1948–2015. We use foreign Communist influence as an instrument to identify exogenous variation… read more here.
Keywords: top incomes; credit; incomes fuel; rising top ... See more keywords