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Taking credit: Redistribution and borrowing in an age of economic polarization

Abstract:

Several recent accounts link rising income inequality in the United States to the global financial crisis, arguing that American politicians did not respond to growing inequality with fiscal redistribution. Instead people saved less and borrowed more in order to maintain relative consumption in the face of widening economic disparities. We propose a theory in which fiscal redistribution dampens the willingness of citizens to borrow to fund current consumption. A key implication is that pre-ta...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted manuscript

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Publisher copy:
10.1017/S0043887117000089

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Department:
Nuffield College
Ahlquist, J More by this author
Publisher:
Cambridge University Press Publisher's website
Journal:
World Politics Journal website
Volume:
69
Issue:
4
Pages:
640-675
Publication date:
2017-10-05
Acceptance date:
2017-03-02
DOI:
EISSN:
1086-3338
ISSN:
0043-8871
Pubs id:
pubs:685235
URN:
uri:ea39f4bb-adbb-4fed-9597-eaf5d222b41c
UUID:
uuid:ea39f4bb-adbb-4fed-9597-eaf5d222b41c
Local pid:
pubs:685235

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