股票和劳动力市场同步与收入不平等:来自经合组织国家的证据

IF 1.3 Q3 ECONOMICS

Journal of International Commerce Economics and Policy Pub Date : 2018-08-15 DOI:10.1142/S1793993318500035

Jie Li, A. Ouyang

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引用次数: 1

摘要

本文正式检验了股票和劳动力市场的同步如何影响收入不平等。股票市场和劳动力市场对货币扩张的反应是不同的，也就是说，一般来说，股票市场的反应往往比劳动力市场快得多。当货币扩张时，股票市场参与者(通常是富人)可以比劳动力市场参与者(通常是穷人)更快地享受资本收益。然而，如果劳动力市场与股市更加同步，富人在股市中享受的资本收益将更快地与劳动力市场的反应相匹配，从而缩小收入不平等。在控制内生性问题的前提下，采用不同的同步措施对预测结果进行实证验证。

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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Stock and Labor Market Synchronization and Income Inequality: Evidence from OECD Countries

This paper formally tests how the synchronization of stock and labor markets can affect income inequality. The responsiveness of stock and labor markets to a monetary expansion is different, i.e., a stock market, in general, tends to respond much faster than labor market. When there is monetary expansion, stock market participants (usually the rich) can enjoy capital gains quicker than labor market participants (usually the poor). However, if a labor market is more synchronized with a stock market, the capital gains a rich can enjoy in a stock market would be faster matched by labor market response, leading to a shrinking income inequality. We empirically confirm the prediction with different synchronization measures, controlling endogeneity issues.

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来源期刊

Journal of International Commerce Economics and Policy ECONOMICS-

CiteScore

1.50

自引率

0.00%

发文量

期刊介绍： Journal of International Commerce, Economics and Policy (JICEP) is a peer-reviewed journal that seeks to publish high-quality research papers that explore important dimensions of the global economic system (including trade, finance, investment and labor flows). JICEP is particularly interested in potentially influential research that is analytical or empirical but with heavy emphasis on international dimensions of economics, business and related public policy. Papers must aim to be thought-provoking and combine rigor with readability so as to be of interest to both researchers as well as policymakers. JICEP is not region-specific and especially welcomes research exploring the growing economic interdependence between countries and regions.