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Fiscall Adjustments and Income Inequality:A First Assessment

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  • Luca Agnello

    () (University of Palermo, Department of Economics, Business and Finance)

  • Ricardo M. Sousa

    () (Universidade do Minho - NIPE)

Abstract

Using a statistical approach to identify fiscal adjustments, we find that fiscal consolidation appears to shorten the income gap. Fiscal austerity plans that succeed in bringing public debt to a sustainable path seem to be more likely to reduce inequality. Expansionary fiscal adjustments are particularly important to promote changes in the income distribution.

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Bibliographic Info

Paper provided by NIPE - Universidade do Minho in its series NIPE Working Papers with number 19/2012.

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Date of creation: 2012
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Handle: RePEc:nip:nipewp:19/2012

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Related research

Keywords: Inequality; fiscal consolidation; Kuznets curve; openness.;

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References

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  1. Feldstein, Martin, 1982. "Government deficits and aggregate demand," Journal of Monetary Economics, Elsevier, vol. 9(1), pages 1-20.
  2. Jong-eun Lee, 2010. "Inequality in the globalizing Asia," Applied Economics, Taylor and Francis Journals, vol. 42(23), pages 2975-2984.
  3. Luca Agnello & Ricardo M. Sousa, 2012. "How do banking crises impact on income inequality?," Applied Economics Letters, Taylor and Francis Journals, vol. 19(15), pages 1425-1429, October.
  4. Francesco Giavazzi & Marco Pagano, 1990. "Can Severe Fiscal Contractions be Expansionary? Tales of Two Small European Countries," NBER Working Papers 3372, National Bureau of Economic Research, Inc.
  5. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "From Financial Crash to Debt Crisis," NBER Working Papers 15795, National Bureau of Economic Research, Inc.
  6. Stéphanie Guichard & Mike Kennedy & Eckhard Wurzel & Christophe André, 2007. "What Promotes Fiscal Consolidation: OECD Country Experiences," OECD Economics Department Working Papers 553, OECD Publishing.
  7. Changkyu Choi, 2006. "Does foreign direct investment affect domestic income inequality?," Applied Economics Letters, Taylor and Francis Journals, vol. 13(12), pages 811-814.
  8. Boris Cournède & Frédéric Gonand, 2006. "Restoring Fiscal Sustainability in the Euro Area: Raise Taxes or Curb Spending?," OECD Economics Department Working Papers 520, OECD Publishing.
  9. Pablo Hernández de Cos & Enrique Moral-Benito, 2011. "Endogenous fiscal consolidations," Banco de España Working Papers 1102, Banco de España.
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Cited by:
  1. Luca Agnello & Sushanta K. Mallick & Ricardo M. Sousa, 2012. "Financial Reforms and Income Inequality," NIPE Working Papers 21/2012, NIPE - Universidade do Minho.
  2. Sushanta K. Mallick & Ricardo M. Sousa, 2012. "Is Technology Factor-Neutral? Evidence from the US Manufacturing Sector," NIPE Working Papers 26/2012, NIPE - Universidade do Minho.

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