kako citirati ovaj članak
podeli ovaj članak


  • citati u SCIndeksu: [6]
  • citati u CrossRef-u:0
  • citati u Google Scholaru:[]
  • posete u poslednjih 30 dana:34
  • preuzimanja u poslednjih 30 dana:5


članak: 8 od 10  
Back povratak na rezultate
2016, vol. 63, br. 1, str. 1-24
Income inequality: Implications and relevant economic policies
(naslov ne postoji na srpskom)
aUniversity of Cambridge, UK
bCambridge Econometrics, UK

e-adresapa267@cam.ac.uk, agm@camecon.com
Ključne reči: income inequality; economic activity; redistribution of income; economic policies
(ne postoji na srpskom)
The aim of this contribution is to discuss closely the implications of income inequality and the economic policies to tackle it, especially so in view of inequality being one of the main causes of the 2007/2008 international financial crisis and the 'great recession' that subsequently emerged. Wealth inequality is also important in this respect, but the focus is on income inequality. Ever since the financial crisis and the subsequent 'great recession', inequality of income, and wealth, has increased and the demand for economic policy initiatives to produce a more equal distribution of income and wealth has become more urgent. Such reduction would help to increase the level of economic activity as has been demonstrated again more recently. A number of economic policy initiatives for this purpose will be the focus of this contribution.
*** (2012) Asian development outlook: Confronting rising inequality in Asia. Manila: Asian Development Bank, Asian Development Bank
*** (2012) Policy prescription: A true progressivism. Economist, October 13
*** (2014) Inequality v growth. Economist, March 01
*** (2015) When what comes down doesn't go up. Economist, May 02
Alvaro, A., Arestis, P., McCombie, J.S.L. (2008) Does Central Bank independence affect inflation persistence and volatility?. Cambridge Centre for Economic and Public Policy Working Paper
Angeriz, A., Arestis, P. (2008) Assessing Inflation Targeting Through Intervention Analysis. Oxford Economic Papers, 60(2): 293-317
Arestis, P. (2011) Keynesian economics and the new consensus in macroeconomics. u: Hein Eckhard, Stockhammer Engelbert [ur.] A Modern Guide to Keynesian Macroeconomics and Economic Policies, Cheltenham: Edward Elgar, 88-112
Arestis, P. (2012) Fiscal policy: a strong macroeconomic role. Review of Keynesian Economics, 0(1): 93-108
Arestis, P. (2016) Main and Contributory Causes of the Recent Financial Crisis and Economic Policy Implications. u: Philip Arestis and Malcolm Sawyer [ur.] Emerging Economies during and after the Great Recession, Basingstoke: Palgrave Macmillan, str. 1-36
Arestis, P., Karakitsos, E. (2013) Financial Stability in the Aftermath of the 'Great Recession'. Basingstoke: Palgrave Macmillan
Arestis, P. (2015) Coordination of fiscal with monetary and financial stability policies can better cure unemployment. Review of Keynesian Economics, 3(2): 233-247
Arestis, P., González-Martínez, A.R. (2015) The Absence of Environmental Issues in the New Consensus Macroeconomics is only One of Numerous Criticisms. u: Philip Arestis and Malcolm Sawyer [ur.] Finance and the Macroeconomics of Environmental Policies, Basingstoke: Palgrave Macmillan, str. 1-36
Arestis, P., Sawyer, M. (2013) The Potential of Financial Transactions Taxes. u: Philip Arestis and Malcolm Sawyer [ur.] Economic Policies, Governance and the New Economics, Basingstoke: Palgrave Macmillan, str. 87-121
Arestis, P., Sawyer, M. (2011) Economic Theory and Policies: New Directions After Neoliberalism. u: Philip Arestis and Malcolm Sawyer [ur.] New Economics as Mainstream Economics, Basingstoke: Palgrave Macmillan, str. 1-38
Atkinson, A.B. (1997) Bringing income distribution in from the cold periphery. Economic Journal, 107 mar
Atkinson, A.B., Piketty, T., Saez, E. (2011) Top Incomes in the Long Run of History. Journal of Economic Literature, 49(1): 3-71
Atkinson, A.B. (2015) Inequality: What can be done?. Cambridge, MA: Harvard University Press
Bailey, J., Coward, J., Whittaker, M. (2011) Painful separation: An international study of the weakening relationship between economic growth and the pay of ordinary workers. http://www.resolutionfoundation.org/wpcontent/uploads/2014/08/Painful-Separation.pdf
Bargain, O., Dolls, M., Immervoll, H., Neumann, D., Peichl, A., Pestel, N., Siegloch, S. (2014) Tax policy and income inequality in the United States, 1979-2007. Economic Inquiry, 53(2): 1061-1085
Bonica, A., McCarty, N., Poole, K.T., Rosenthal, H. (2013) Why Hasn't Democracy Slowed Rising Inequality?. Journal of Economic Perspectives, 27(3): 103-124
Bordo, M.D., Meissner, C.M. (2012) Does inequality lead to a financial crisis?. Journal of International Money and Finance, 31(8): 2147-2161
Christine, L. (2014) Economic inclusion and financial integrity: An address to the conference on inclusive capitalism. http://www.imf.org/external/np/speeches/2014/052714.htm
Cingano, F. (2014) Trends in Income Inequality and its Impact on Economic Growth. u: OECD Social, Employment and Migration Working Papers, 163
Crespo, N., Moreira, S.B., Simoes, N. (2015) An integrated approach for the measurement of inequality, poverty, and richness. Panoeconomicus, vol. 62, br. 5, str. 531-555
Davide, F., Loungani. Prakash (2013) Who Let the Gini Out?. Finance and Development, 50(4); 25-27
Diamond, P., Saez, E. (2011) The Case for a Progressive Tax: From Basic Research to Policy Recommendation. Journal of Economic Perspectives, 25(4): 165-190
Eckhard, H., Mundt, M. (2012) Financialisation and the requirements and potentials for wage-led recovery: A review focusing on the G20. u: Conditions of Work and Employment Series, International Labour Office, 37
Foster, J.B., Yates, M.D. (2014) Piketty and the Crisis of Neoclassical Economics. Monthly Review, 66(6): 1
Galbraith, J.K. (2012) Inequality and instability: A study of the world economy just before the great crisis. Oxford: Oxford University Press
Greenspan, A. (2010) The Crisis. www.brookings.edu/~/media/files/../spring2010_greenspan.pdf
Haldane, A.G. (2014) Unfair shares. http://www.bankofengland.co.uk/publications/Documents/speeches/2014/speech732.pdf
Hein, E., Tarassow, A. (2009) Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model. Cambridge Journal of Economics, 34(4): 727-754
Hein, E., Mundt, M. (2013) Financialization, the Financial and Economic Crisis, and the Requirements and Potentials for Wage-led Recovery. u: Marc Lavoie and Engelbert Stockhammer [ur.] Wage-Led Growth: An Equitable Strategy for Economic Recovery, Basingstoke: Palgrave Macmillan, str. 153-186
International Institute for Labour Studies (2008) Full Report - World of Work Report 2008: Income inequalities in the age of financial globalization. World of Work Report, 2008(1): i-162
International Monetary Fund (2014) Fiscal policy and income inequality. http://www.imf.org/external/np/pp/eng/2014/012314.pdf
James, C. (2011) The great austerity war: What caused the us deficit crisis and Who should pay to fix it?. University of Massachusetts Economics Department Working Paper, 2011-17
Keynes, J.M. (1936) The general theory of employment, interest and money. London: Macmillan
King, J. (2013) Technological change, union decline, and the rise in German wage inequality 1979-2012. u: Paper presented at the RC28 Spring Meeting, Trento
Korinek, A., Kreamer, J. (2013) The Redistributive Effects of Financial Deregulation. u: National Bureau of Economic Research Working Paper 19572
Kristal, T., Cohen, Y. (2015) What do computers really do? Computerization, fading pay-setting institutions and rising wage inequality. Research in Social Stratification and Mobility, 42: 33-47
Kumhof, M., Ranciere, R., Winant, P. (2013) Inequality, Leverage and Crises: The Case of Endogenous Default. IMF Working Papers, 13(249): 1
Kumhof, M., Rancière, R., Winant, P. (2015) Inequality, Leverage, and Crises†. American Economic Review, 105(3): 1217-1245
Lavoie, M., Stockhammer, E. (2013) Wage-led Growth: Concept, Theories and Policies. u: Marc Lavoie and Engelbert Stockhammer [ur.] Wage-Led Growth: An Equitable Strategy for Economic Recovery, Basingstoke: Palgrave Macmillan, str. 13-39
Mankiw, N. G. (2015) Yes, r > g. So What? †. American Economic Review, 105(5): 43-47
Mario, D. (2015) The ECB's recent monetary policy measures: Effectiveness and challenges. https://www.ecb.europa.eu/press/key/date/2015/html/sp150514.en.html
Mccombie, J.S.L., Spreafico, M.R.M. (2015) Income inequality and growth: Problems with the orthodox approach. http://ineteconomics.org/uploads/papers/McCombie.pdf
Michael, K., Rencière. Romain, b. (2010) Leveraging Inequality. Finance and Development, 47(4); 28-31
Milanović, B. (2011) More or Less: Income Inequality Has Risen over the Past Quarter- Century Instead of Falling as Expected. Finance and Development, 48(3); 6-11
Muinelo-Gallo, L., Roca-Sagalés, O. (2011) Economic growth and inequality: the role of fiscal policies. Australian Economic Papers, 50(2-3): 74-97
New Economics Foundation (2014) Inequality and financialisation: A dangerous mix. http://www.feslondon.org.uk/cms/files/fes/pdf/Inequality_financialisation%20FINAL.pdf
Onaran, Ã., Galanis, G. (2014) Income distribution and growth: a global model. Environment and Planning A, 46(10): 2489-2513
Onaran, Ö., Galanis, G. (2013) Is Aggregate Demand Wage-led or Profit-led? A Global Model. u: Marc Lavoie and Engelbert Stockhammer [ur.] Wage-Led Growth: An Equitable Strategy for Economic Recovery, Basingstoke: Palgrave Macmillan, str. 71-99
Organization for Economic Co-operation and Development (2008) Growing unequal?: Income distribution and poverty in OECD countries. Paris, Organization for Economic Co-operation and Development
Organization for Economic Co-operation and Development (2011) Divided we stand: Why inequality keeps rising. Paris, Organization for Economic Co-operation and Development
Ostry, J., Berg, A., Tsangarides, C. (2014) Redistribution, Inequality, and Growth. Staff Discussion Notes, 14(02): 1
Ostry, J., Berg, A. (2011) Inequality and Unsustainable Growth: Two Sides of the Same Coin?. Staff Discussion Notes, 11(08): 1
Ostry, J.D., Berg, A., Zettelmeyer, J. (2008) What Makes Growth Sustained?. IMF Working Papers, 08(59): 1
Özlem, O., Obst, T. (2015) The empirical case for a wage-led recovery. http://www.feps-europe.eu/assets/2976d442-c5fa-4cad-8027-b4577e3520ed/epv-7-ootov2pdf
Philippon, T., Reshef, A. (2009) Wages and Human Capital in the U.S. Financial Industry: 1909-2006. u: National Bureau of Economic Research Working Paper 14644
Philippon, T., Midrigan, V. (2011) Household Leverage and the Recession. u: National Bureau of Economic Research Working Paper 16965
Piketty, T., Saez, E. (2007) How Progressive is the U.S. Federal Tax System? A Historical and International Perspective. Journal of Economic Perspectives, 21(1): 3-24
Piketty, T., Saez, E., Stantcheva, S. (2014) Optimal Taxation of Top Labor Incomes: A Tale of Three Elasticities †. American Economic Journal: Economic Policy, 6(1): 230-271
Piketty, T. (2015) About Capital in the Twenty-First Century †. American Economic Review, 105(5): 48-53
Raghuram, R. (2010) Fault lines: How hidden fractures still threaten the world economy. Princeton: Princeton University Press
Ranciere, R., Kumhof, M. (2010) Inequality, Leverage and Crises. IMF Working Papers, 10(268): 1
Ranciere, R., Throckmorton, N.A., Kumhof, M., Lebarz, C., Richter, A.W. (2012) Income Inequality and Current Account Imbalances. IMF Working Papers, 12(8): 1
Seguino, S. (2014) Financialization, distribution, and inequality. u: Sen Gita, Durano Marina [ur.] The Remaking of Social Contracts: Global Feminists in the 21st Century, London: Zed Books, Chapter 1
Stiglitz, J.E. (2013) The price of inequality: How today's divided society endangers our future. New York: W.W. Norton and Company
Stiglitz, J.E. (2015) The great divide: Unequal societies and what we can do about them. London: Allen Lane
Stockhammer, E. (2013) Why Have Wage Shares Fallen? An Analysis of the Determinants of Functional Income Distribution. u: Marc Lavoie and Engelbert Stockhammer [ur.] Wage-Led Growth: An Equitable Strategy for Economic Recovery, Basingstoke: Palgrave Macmillan, str. 40-70
Storm, S., Naastepad, C.W.M. (2013) Wage-led or Profit-led Supply: Wages, Productivity and Investment. u: Marc Lavoie and Engelbert Stockhammer [ur.] Wage-Led Growth: An Equitable Strategy for Economic Recovery, Basingstoke: Palgrave Macmillan, str. 100-124
Šuković, D. (2014) Did economic inequality cause the economic crisis. Panoeconomicus, vol. 61, br. 3, str. 369-387
Thomas, P. (2013) Has the U.S. finance industry become less efficient?: On the theory and measurement of financial intermediation. National Bureau of Economic Research Working Paper, 18077
Thomas, P. (2008) The evolution of the US financial industry from 1860 to 2007: Theory and evidence. http://diyhpl.us/~bryan/papers2/financial/The%20evolution%20of%20the%20US%20financial%20industry%20from%201860%20to%202007.pdf
Thomas, P. (2014) Capital in the twenty-first century. Cambridge, MA: Harvard University Press
Turner, A. (2010) What do banks do?: What should they do and what public policies are needed to ensure best results for the real economy?. http://www.fsa.gov.uk/pubs/speeches/at_17mar10.pdf
Wade, R. (2012) Why Has Income Inequality Remained on the Sidelines of Public Policy for So Long?. Challenge, 55(3): 21-50
Yates, M.D. (2012) The Great Inequality. Monthly Review, 63(10): 1
Yellen, J.L. (2014) Perspectives on inequality and opportunity from the survey of consumer finances. http://www.federalreserve.gov/newsevents/speech/yellen20141017a.htm

O članku

jezik rada: engleski
vrsta rada: izvorni naučni članak
DOI: 10.2298/PAN1601001A
objavljen u SCIndeksu: 24.05.2016.
Creative Commons License 4.0