Levarging inequality

Abstract : The United States experienced two major economic crises over the past 100 years-the Great Depression of 1929 and the Great Recession of 2007. Income inequality may have played a role in the origins of both income inequality may have played a role in the origins of both. We say this because there are two remarkable similarities between the eras preceding these crises: a sharp increase in income inequality and a sharp increase in household debt-to-income ratios.
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Submitted on : Tuesday, November 20, 2012 - 9:38:21 AM
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Michael Kumhof, Romain Rancière. Levarging inequality. Finance & Development, 2010, pp.28-31. ⟨halshs-00754409⟩

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