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dc.contributor.authorAl-Hussami, Faresen
dc.contributor.authorRemesal, Álvaro Martínen
dc.date.accessioned2012-07-24-
dc.date.accessioned2012-07-25T14:44:16Z-
dc.date.available2012-07-25T14:44:16Z-
dc.date.issued2012-
dc.identifier.urihttp://hdl.handle.net/10419/60188-
dc.description.abstractIn this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively the current account balance. The relationship is exacerbated by the level of financial liberalization represented by changes in the borrowing constraints. Panel data regressions for a sample of developed and developing economies confirm that an increase in income inequality is mostly linked to a decrease in the current account balance. Moreover, we also find that relatively higher levels of financial liberalization interact with the level of income inequality so that the previous effect is amplified. These results are robust to different specifications.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Advanced Studies Working Papers |x459en
dc.subject.jelC33en
dc.subject.jelD91en
dc.subject.jelE21en
dc.subject.jelE44en
dc.subject.jelF32en
dc.subject.ddc330en
dc.subject.keywordcurrent accounten
dc.subject.keywordincome inequalityen
dc.subject.keywordglobal imbalancesen
dc.subject.keywordfinancial liberalizationen
dc.subject.keywordconsumption externalitiesen
dc.subject.keywordheterogeneityen
dc.titleCurrent account imbalances and income inequality: Theory and evidence-
dc.typeWorking Paperen
dc.identifier.ppn719941245en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwasw:459en

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