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Systemic Financial Crises and Income Inequality in OECD Countries

Author

Listed:
  • Puneet Arora

    (Charles University)

  • Alberto Chong

    (Department of Economics, Georgia State University and Department of Economics, Universidad del Pacifico)

  • Carla Srebot

    (University of British Columbia)

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.

Suggested Citation

  • Puneet Arora & Alberto Chong & Carla Srebot, 2023. "Systemic Financial Crises and Income Inequality in OECD Countries," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper2316, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    • Handle: RePEc:ays:ispwps:paper2316
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    File URL: https://icepp.gsu.edu/files/2023/08/paper2316.pdf
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