@techreport{Skott2011Increasing,
abstract = {Rising inequality affects the composition of asset demands as well as aggregate demand. The poor have few financial assets and their portfolio is skewed towards fixed-income assets. The rich, by contrast, hold a large proportion of their wealth in stocks. Thus, an increase in inequality tends to raise the demand for stocks. This generates capital gains, and these gains can fuel a bubble, as desired portfolios shift further towards stocks.},
address = {Amherst, Mass.},
author = {Peter Skott},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E11; E21; 330; earnings inequality; portfolio composition; financial instability},
language = {eng},
number = {2011-20},
publisher = {Univ. of Massachusetts, Dep. of Economics},
title = {Increasing inequality and financial instability},
type = {Working Paper, University of Massachusetts, Department of Economics},
url = {http://hdl.handle.net/10419/64181},
year = {2011}
}
