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Systemic Financial Crises and Income Inequality in OECD Countries

Puneet Arora (p.arora31288@gmail.com), Alberto Chong (achong6@gsu.edu) and Carla Srebot (csrebot@gmail.com)
Additional contact information
Puneet Arora: Management Development Institute Gurgaon
Alberto Chong: Georgia State University
Carla Srebot: University of British Columbia

Open Economies Review, 2024, vol. 35, issue 3, No 9, 687-694

Abstract: Abstract We offer theory and evidence that supports the view that systemic financial crises impact income inequality negatively in richer countries, where institutions, such as social safety nets, work better than in developing countries. More generally, to our knowledge, our work is the first to provide empirical evidence that supports the view that systemic financial crises may have a causal impact on income inequality and that a driving mechanism may be vulnerable employment. In order to do this, we apply a diff-in-diff approach and provide evidence that the parallel trends assumption is complied with.

Keywords: Bank runs; Systemic crisis; Inequality; OECD (search for similar items in EconPapers)
JEL-codes: E0 G0 O0 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11079-023-09741-6

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