Systemic Financial Crises and Income Inequality in OECD Countries

Puneet Arora, Alberto Chong and Carla Srebot
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Puneet Arora: Charles University
Carla Srebot: University of British Columbia

International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University

Abstract: We offer a theory and evidence that support the view that systemic financial crises impact income inequality negatively in richer countries, where institutions such as social safety nets work better than in developing countries. More generally, to our knowledge, our work is the first to provide empirical evidence that supports the view that systemic financial crises may have a causal impact on income inequality and that a driving mechanism may be vulnerable employment. In order to do this, we apply a difference-in-difference approach and provide evidence that the parallel trends assumption is complied with.

Pages: 15 pages
Date: 2023-08
New Economics Papers: this item is included in nep-fdg and nep-hme
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Persistent link: https://EconPapers.repec.org/RePEc:ays:ispwps:paper2316

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