Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/240517 
Autor:innen: 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
IFN Working Paper No. 1374
Verlag: 
Research Institute of Industrial Economics (IFN), Stockholm
Zusammenfassung: 
Several studies have linked rising insolvency rates to increasing inequality and argued that this might be explained by individuals' desire to "Keep up with the Joneses". Using unique administrative register data on individual insolvencies in Sweden, I test whether the probability to become insolvent is related to inequality in one's reference group or to one's income distance relative to peers. Identification relies on area fixed effects, an extensive set of background characteristics and varying the definition of relevant reference groups. I find that there is a positive relationship between inequality and insolvency, where a 10 percent increase in top incomes increases the individual probability to become insolvent by 12 percent.
Schlagwörter: 
Inequality
Insolvency
Bankruptcy
Financial distress
Social interaction
JEL: 
D14
D31
D63
D91
E21
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.42 MB





Publikationen in EconStor sind urheberrechtlich geschützt.