Financial Crises Poverty And Income Distribution
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Financial Crises Poverty And Income Distribution
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Author : Emanuele Baldacci
language : en
Publisher: International Monetary Fund
Release Date : 2002
Financial Crises Poverty And Income Distribution written by Emanuele Baldacci and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Developing and transition economies are prone to financial crises, including balance of payments and banking crises. These crises affect poverty and the distribution of income through a variety of channels: slowdowns in economic activity, relative price changes, and fiscal retrenchment, among others. This paper deals with the impact of financial crises on the incidence of poverty and income distribution, and discusses policy options that can be considered by governments in the aftermath of crises. Empirical evidence, based on both macro- and microlevel data, shows that financial crises are associated with an increase in poverty and, in some cases, income inequality. The provison of targeted safety nets and the protection of specific social programs from fiscal retrenchment remain the main short-term propoor policy responses to financial crises.
Banking Sector Crises And Inequality
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Author : Patrick Honohan
language : en
Publisher: World Bank Publications
Release Date : 2005
Banking Sector Crises And Inequality written by Patrick Honohan and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Bank failures categories.
An apparent temporary narrowing of income inequality has been observed during several recent banking crises. But it would be a mistake to conclude that such crises don't matter for the poor. For one thing, the correlation is not strong, and the opposite pattern has also been present. Besides, the poor are much less able to absorb a cut in income: safety-net policies are crucial during a downturn even if the gap between rich and poor has temporarily narrowed. More fundamentally, distributional shifts during the crisis may be less important than the fact that underlying financial policy and infrastructures conducive to crisis can also be associated with more unequal societies.
Knowing When You Do Not Know
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Author : Ambar Narayan
language : en
Publisher: World Bank Publications
Release Date : 2012-01-12
Knowing When You Do Not Know written by Ambar Narayan and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-12 with Business & Economics categories.
Economists have long sought to predict how macroeconomic shocks will affect individual welfare. Macroeconomic data and forecasts are easily available when crises strike. But policy action requires not only understanding the magnitude of a macro shock, but also identifying which households or individuals are being hurt by (or benefit from) the crisis. A popular solution is to extrapolate the welfare impact of a shock from the historical response of income or consumption poverty to changes in output, by estimating an 'elasticity' of poverty to growth. Although this method provides an estimate for the aggregate poverty impact of a macro shock, it has limited value for analysts and policymakers alike. Aggregate numbers are useful to capture the attention of policymakers and the international community, but in the absence of any information on who is affected and to what extent, provide little guidance on what actions need to be taken. This volume outlines a more comprehensive approach to the problem, showcasing a microsimulation model, developed in response to demand from World Bank staff working in countries and country governments in the wake of the global financial crisis of 2008-09. Starting with the idea of using simple macroeconomic projections as the 'macro linkages' to a micro behavioral model built from household data, the model was conceptualized, refined and tested in a diverse mix of countries: Bangladesh, Philippines, Mexico, Poland and Mongolia. The results fed into country policy dialogue and lending operations of Bank teams, as well as various reports, research papers and briefs.
El Ni O Or El Peso
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Author : Gaurav Datt
language : en
Publisher: World Bank Publications
Release Date : 2000
El Ni O Or El Peso written by Gaurav Datt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with El Niño Current categories.
In terms of its impact on poverty, the recent economic crisis in the Philippines was more of an El Niño phenomenon than a financial crisis.
The Great Recession And The Distribution Of Household Income
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Author : Andrea Brandolini
language : en
Publisher: Oxford University Press
Release Date : 2013
The Great Recession And The Distribution Of Household Income written by Andrea Brandolini and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
The so-called Great Recession that followed the global financial crisis at the end of 2007 was the largest economic downturn since the 1930s for most rich countries. To what extent were household incomes affected by this event, and how did the effects differ across countries? This is the first cross-national study of the impact of the Great Recession on the distribution of household incomes. Looking at real income levels, poverty rates, and income inequality, it focusses on the period 2007-9, but also considers longer-term impacts. Three vital contributions are made. First, the book reviews lessons from the past about the relationships between macroeconomic change and the household income distribution. Second, it considers the experience of 21 rich OECD member countries drawing on a mixture of national accounts, and labour force and household survey data. Third, the book presents case-study evidence for six countries: Germany, Ireland, Italy, Sweden, the UK, and the USA. The book shows that, between 2007 and 2009, government support through the tax and benefit system provided a cushion against the downturn, and household income distributions did not change much. But, after 2009, there is likely to be much greater change in incomes as a result of the fiscal consolidation measures that are being put into place to address the structural deficits accompanying the recession. The book's main policy lesson is that stabilisation of the household income distribution in the face of macroeconomic turbulence is an achievable policy goal, at least in the short-term.
Who Loses In The Downturn
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Author : Herwig Immervoll
language : en
Publisher: Emerald Group Publishing
Release Date : 2011-04-15
Who Loses In The Downturn written by Herwig Immervoll and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-15 with Business & Economics categories.
Contains fresh knowledge on the effects of the economic downturn on employment and income distribution. This title also contains research papers offering fresh insights into issues such as how wages, employment and incomes are affected by the crisis, which demographic groups are most vulnerable in the recession, and more.
Finance And Inequality
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Author : Mr.Martin Cihak
language : en
Publisher: International Monetary Fund
Release Date : 2020-01-17
Finance And Inequality written by Mr.Martin Cihak and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-17 with Business & Economics categories.
The study examines empirical relationships between income inequality and three features of finance: depth (financial sector size relative to the economy), inclusion (access to and use of financial services by individuals and firms), and stability (absence of financial distress). Using new data covering a wide range of countries, the analysis finds that the financial sector can play a role in reducing inequality, complementing redistributive fiscal policy. By expanding the provision of financial services to low-income households and small businesses, it can serve as a powerful lever in helping create a more inclusive society but—if not well managed—it can amplify inequalities.
Understanding The Poverty Impact Of The Global Financial Crisis In Latin America And The Caribbean
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2014-06-18
Understanding The Poverty Impact Of The Global Financial Crisis In Latin America And The Caribbean written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-18 with Business & Economics categories.
Using data from household and labor force surveys, this study documents the effects of the 2008–09 global financial crisis on poverty in Latin America and the Caribbean, the social protection policy responses activated, and a macro-micro modeling of crisis/no-crisis scenarios for Mexico and Brazil.
Inequality Leverage And Crises
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Author : Mr.Michael Kumhof
language : en
Publisher: International Monetary Fund
Release Date : 2010-11-01
Inequality Leverage And Crises written by Mr.Michael Kumhof and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-01 with Business & Economics categories.
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where these features arise endogenously as a result of a shift in bargaining powers over incomes. A financial crisis can reduce leverage if it is very large and not accompanied by a real contraction. But restoration of the lower income group's bargaining power is more effective.
El Ni O Or El Peso Crisis Poverty And Income Distribution In The Philippines
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Author : Gaurav Datt
language : en
Publisher:
Release Date : 2016
El Ni O Or El Peso Crisis Poverty And Income Distribution In The Philippines written by Gaurav Datt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
In terms of its impact on poverty, the recent economic crisis in the Philippines was more of an El Nintilde;o phenomenon than a financial crisis. Using household survey data for 1998, Datt and Hoogeveen assess the distributional impact of the recent economic crisis in the Philippines. The results suggest that the impact of the crisis was modest, leading to a 5 percent reduction in average living standards and a 9 percent increase in the incidence of poverty-with larger increases indicated for the depth and severity of poverty.The greater shock came from El Nintilde;o rather than through the labor market. The labor market shock was progressive (reducing inequality) while the El Nintilde;o shock was regressive (increasing inequality).Not all households were equally vulnerable to the crisis - induced shocks. Household and community characteristics affected the impact of the shocks. Ownership of land made households more susceptible to the El Nintilde;o shocks; higher levels of education made households more vulnerable to wage and employment shocks.The impact of the crisis was greater in more commercially developed communities. Occupational diversity within a household helped mitigate the adverse impact.There is some evidence of consumption smoothing by the households affected by the crisis, but the poor were less able to protect their consumption, which is a matter of policy concern.This paper - a product of the Poverty Reduction and Economic Management Sector Unit, East Asia and Pacific Region - is part of a larger effort in the region to better understand the social impact of the crisis.