| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8893 |
| DP8893 Financial Globalization, Inequality, and the Raising of Public Debt | |
| Vincenzo Quadrini; Eva de Francisco; Marina Azzimonti | |
| 发表日期 | 2012-09-01 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | During the last three decades, the stock of government debt has increased in most developed countries. During the same period, we also observe a significant liberalization of international financial markets and an increase in income inequality in several industrialized countries. In this paper we propose a multicountry political economy model with incomplete markets and endogenous government borrowing and show that governments choose higher levels of public debt when financial markets become internationally integrated and inequality increases. We also conduct an empirical analysis using OECD data and find that the predictions of the theoretical model are supported by the empirical results. |
| 主题 | International Macroeconomics |
| 关键词 | Financial integration Government debt Income inequality |
| URL | https://cepr.org/publications/dp8893 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537943 |
| 推荐引用方式 GB/T 7714 | Vincenzo Quadrini,Eva de Francisco,Marina Azzimonti. DP8893 Financial Globalization, Inequality, and the Raising of Public Debt. 2012. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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