Staff View: Zooming In : From Aggregate Volatility to Income Distribution

Zooming In : From Aggregate Volatility to Income Distribution

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 e...

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Bibliographic Details
Main Authors:	Calderón, César, Yeyati, Eduardo Levy
Language:	English
Published:	2012
Subjects:	ADVERSE CONSEQUENCES ADVERSE EFFECT ADVERSE EFFECTS AGGREGATE OUTPUT AGGREGATE VOLATILITY AMERICAN DEVELOPMENT BANK AMERICAN ECONOMIC REVIEW ANNUAL GROWTH ANNUAL GROWTH RATE ATM AVERAGE ANNUAL AVERAGE INEQUALITY BALANCE OF PAYMENT BAND-PASS FILTER BOND BUSINESS CYCLE BUSINESS CYCLES CALCULATION CALCULATIONS CENTRAL BANK COMMODITY COMMODITY PRICES COUNTRY CHARACTERISTICS CRISIS VOLATILITY CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCES CURRENT EXPENDITURE CURRENT INCOME CYCLICAL FLUCTUATIONS CYCLICAL VOLATILITY DEBT CRISIS DEPENDENT VARIABLE DEPOSIT DEPOSIT INSURANCE DEVALUATION DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPMENT ECONOMICS DISTRIBUTION DATA DISTRIBUTION OF INCOME DISTRIBUTIONAL EFFECTS DYNAMIC PANEL ECONOMETRICS ECONOMIC ACTIVITY ECONOMIC CONTRACTION ECONOMIC CRISES ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DOWNTURN ECONOMIC DOWNTURNS ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC RECESSION ECONOMIC SIZE ECONOMIC STUDIES ECONOMIC SURVEYS EFFECT OF RECESSIONS EFFECT OF VOLATILITY EFFECTS OF VOLATILITY EMERGING MARKET EMPIRICAL EVIDENCE EMPIRICAL STUDIES EXCHANGE RATE EXCHANGE RATE REGIME EXCHANGE RATE REGIMES EXCHANGE RATES EXPLANATORY POWER EXPORTS EXPOSURE EXTERNAL SHOCKS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DEPTH FINANCIAL INSTRUMENTS FINANCIAL INTEGRATION FINANCIAL LIBERALIZATION FINANCIAL SERVICES FINANCIAL SYSTEM FLEXIBLE EXCHANGE RATES FLUCTUATIONS FORECASTS GDP GDP PER CAPITA GINI COEFFICIENT GLOBALIZATION GROWTH LITERATURE GROWTH PRO-POOR GROWTH RATE GROWTH VOLATILITY HIGH INCOME HOUSEHOLD INCOME HOUSEHOLD SIZE HOUSEHOLD SPENDING HUMAN CAPITAL INCOME INCOME DISTRIBUTION INCOME EFFECT INCOME INEQUALITY INCOME LEVEL INCOME LEVELS INCOME QUINTILES INCOME SHARE INCOME SHOCKS INCOMES INDIVIDUAL INCOMES INDUSTRIAL ECONOMIES INEQUALITY LINK INFLATION INFLATION RATE INSTRUMENTAL VARIABLE ESTIMATION INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL CAPITAL LABOR DEMAND LABOR FORCE LABOR MARKET LABOR MARKETS LAGGED DEPENDENT LAGGED INEQUALITY LARGE FIRMS LESS DEVELOPED COUNTRIES LEVEL OF EDUCATION LIBERALIZATION LINK BETWEEN VOLATILITY LIQUIDITY LOCAL CURRENCY LOW INCOME LOW INCOME HOUSEHOLDS LOW-INCOME LOW-INCOME COUNTRIES MACRO VOLATILITY MACROECONOMIC ADJUSTMENT MACROECONOMIC FLUCTUATIONS MACROECONOMIC SHOCKS MACROECONOMIC VOLATILITY MARKET FAILURE MARKET REGULATION MEASURES OF VOLATILITY MIDDLE INCOME MIDDLE INCOME COUNTRIES MIDDLE-INCOME ECONOMIES MINIMUM WAGES NEGATIVE EFFECT NEGATIVE IMPACT NEGATIVE LINK NEGATIVE SHOCK NEGATIVE SHOCKS OPEN ECONOMIES OUTPUT OUTPUT PER CAPITA OUTPUT VOLATILITY PENSIONS PER CAPITA INCOME PERSONAL WEALTH POLICY DESIGN POLICY IMPLICATIONS POLICY RESEARCH POLITICAL ECONOMY POOR HOUSEHOLDS POSITIVE CORRELATION POVERTY GAP POVERTY HEADCOUNT POVERTY LINE PROPORTIONAL IMPACT PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC SECTOR PUBLIC SPENDING REAL ASSETS REAL GDP REAL GROWTH REAL GROWTH RATE REAL INCOME REAL INTEREST RATE REAL OUTPUT REAL WAGES RECESSIONS REGRESSION ANALYSIS RELATIVE INCOME RESEARCH ASSISTANCE RISK AVERSION SAVERS SAVINGS SECONDARY ENROLLMENT SECONDARY SCHOOL SMALL COUNTRIES SOCIAL ASSISTANCE SOCIAL EXCLUSION SOCIAL SAFETY SOCIAL SAFETY NET SOCIAL SAFETY NETS SOCIAL SECURITY SOCIAL SECURITY BENEFITS SOCIAL WELFARE STANDARD DEVIATION STANDARD ERRORS TAX TERMINATION TOTAL OUTPUT TRADE OPENNESS TRADE SHOCKS TURNOVER UNEMPLOYMENT VALUE ADDED VOLATILE ECONOMIES VOLATILE ENVIRONMENTS VOLATILITY COEFFICIENT VOLATILITY MEASURES VOLATILITY OF TERMS OF TRADE SHOCKS WAGE WAGES WEALTH WORLD DEVELOPMENT INDICATORS WORTH
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090406142645 http://hdl.handle.net/10986/4088

Zooming In : From Aggregate Volatility to Income Distribution

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