Fiscal consolidations and income inequality: Evaluating the evidence

IF 2.9 3区经济学 Q1 ECONOMICS

Quarterly Review of Economics and Finance Pub Date : 2024-06-25 DOI:10.1016/j.qref.2024.101880

Panagiotis Th. Konstantinou

引用次数: 0

Abstract

What are the effects of fiscal austerity on income inequality? In this paper I estimate the average treatment effect ( $ATE$ ) of fiscal consolidations quantifying their dynamic impact by means of dose–response functions. Dose–response functions allow the $ATE$ s to vary by the levels of treatment. I find that austerity indeed increases income inequality, however the increases manifest themselves whenever unannounced fiscal measures are relatively low, lower that 0.20% of GDP or relatively high, higher than 2.17% of GDP. For intermediate levels of fiscal measures income inequality does not change. These results hold for various measures of income inequality.

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财政整顿与收入不平等：评估证据

财政紧缩对收入不平等有何影响？在本文中，我估算了财政整顿的平均治疗效果（ATE），并通过剂量反应函数量化了其动态影响。剂量-反应函数允许 ATE 因治疗水平而异。我发现，紧缩政策确实会加剧收入不平等，但只要未公布的财政措施相对较低，低于 GDP 的 0.20%，或相对较高，高于 GDP 的 2.17%，收入不平等就会加剧。对于中等水平的财政措施，收入不平等并没有改变。这些结果适用于不同的收入不平等衡量标准。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Quarterly Review of Economics and Finance ECONOMICS-

CiteScore

6.00

自引率

2.90%

发文量

118

期刊介绍： The Quarterly Review of Economics and Finance (QREF) attracts and publishes high quality manuscripts that cover topics in the areas of economics, financial economics and finance. The subject matter may be theoretical, empirical or policy related. Emphasis is placed on quality, originality, clear arguments, persuasive evidence, intelligent analysis and clear writing. At least one Special Issue is published per year. These issues have guest editors, are devoted to a single theme and the papers have well known authors. In addition we pride ourselves in being able to provide three to four article "Focus" sections in most of our issues.