In contrast with a growing literature on the drivers of aggregate volatility in developing countries, its consequences in terms of individual incomes have received less attention. This paper looks at the impact of cyclical output fluctuations and extreme output events (crises) on unemployment, poverty, and inequality. The authors find robust evidence that aggregate volatility has a regressive, asymmetric, and non linear impact, as reflected in the...
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详细
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2009/04/01
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政策研究报告
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WPS4895
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1
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1
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2010/07/01
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Disclosed
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Zooming in : from aggregate volatility to income distribution
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aggregate volatility