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Einkommensverteilung, Finanzialisierung und makroökonomische Ungleichgewichte

Author

Listed:
  • Jan Behringer
  • Christian A. Belabed
  • Thomas Theobald
  • Till van Treeck

Abstract

We discuss the link between rising income inequality, financialisation and macroeconomic imbalances during the period before the global financial and economic crisis starting in 2007. We present case studies for the United States and Germany as well as the results of model-based simulations and panel econometric estimations. A large part of the widening global current account imbalances prior to the crisis can be explained by country-specific trends in the personal and functional income distribution. Der Artikel diskutiert den Zusammenhang von zunehmender Einkommensungleichheit, Finanzialisierung und makroökonomischen Ungleichgewichten im Vorfeld der weltweiten Finanz- und Wirtschaftskrise ab 2007. Neben den Fallbeispielen USA und Deutschland werden Ergebnisse aus modellgestützten Simulationen und panelökonometrischen Schätzungen präsentiert. Ein signifikanter Teil der globalen außenwirtschaftlichen Ungleichgewichte im Vorfeld der Krise lässt sich durch länderspezifische Entwicklungen in der funktionalen und personellen Einkommensverteilung erklären.

Suggested Citation

  • Jan Behringer & Christian A. Belabed & Thomas Theobald & Till van Treeck, 2013. "Einkommensverteilung, Finanzialisierung und makroökonomische Ungleichgewichte," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 82(4), pages 203-221.
    • Handle: RePEc:diw:diwvjh:82-4-13
    DOI: 10.3790/vjh.82.4.203
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jan Priewe, 2018. "A time bomb for the Euro? Understanding Germany's current account surplus," IMK Studies 59-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Jan Behringer & Thomas Theobald & Till van Treeck, 2014. "Einkommens- und Vermögensverteilung in Deutschland: Eine makroökonomische Sicht," IMK Report 99-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Sarah Godar & Christoph Paetz & Achim Truger, 2015. "The scope for progressive tax reform in the OECD countries. A macroeconomic perspective with a case study for Germany," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 79-117.
    4. Till van Treeck & Judith Niehues & Galina Kolev & Piotr Pysz & Peter Hampe & Andreas Peichl & Marc Stöckli & Georg Cremer, 2018. "Wie gerecht ist die Welt? – Soziale Ungleichheit und Wirtschaftswachstum," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(15), pages 03-25, August.
    5. Jan Behringer & Thomas Theobald & Till van Treeck, 2014. "Income and Wealth Distributionin Germany: A Macro-Economic Perspective," IMK Report 99e-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

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    More about this item

    Keywords

    Income distribution; financialisation; current account imbalances;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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