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Books > Business & Economics > Economics > Macroeconomics
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The Great Recession and the Distribution of Household Income (Hardcover)
Loot Price: R3,698
Discovery Miles 36 980
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The Great Recession and the Distribution of Household Income (Hardcover)
Series: Fondazione Rodolfo Debendetti Reports
Expected to ship within 12 - 17 working days
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Donate to Against Period Poverty
Total price: R3,718
Discovery Miles: 37 180
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The so-called Great Recession that followed the global financial
crisis at the end of 2007 was the largest economic downturn since
the 1930s for most rich countries. To what extent were household
incomes affected by this event, and how did the effects differ
across countries? This is the first cross-national study of the
impact of the Great Recession on the distribution of household
incomes. Looking at real income levels, poverty rates, and income
inequality, it focusses on the period 2007-9, but also considers
longer-term impacts. Three vital contributions are made. First, the
book reviews lessons from the past about the relationships between
macroeconomic change and the household income distribution. Second,
it considers the experience of 21 rich OECD member countries
drawing on a mixture of national accounts, and labour force and
household survey data. Third, the book presents case-study evidence
for six countries: Germany, Ireland, Italy, Sweden, the UK, and the
USA. The book shows that, between 2007 and 2009, government support
through the tax and benefit system provided a cushion against the
downturn, and household income distributions did not change much.
But, after 2009, there is likely to be much greater change in
incomes as a result of the fiscal consolidation measures that are
being put into place to address the structural deficits
accompanying the recession. The book's main policy lesson is that
stabilisation of the household income distribution in the face of
macroeconomic turbulence is an achievable policy goal, at least in
the short-term.
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