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Isolating the impact of policy, demographic shifts, and market volatility on changes in income inequality is of great interest to policymakers. However, such estimation can be difficult due to the complex interactions and evolutions in the social and economic environment. Through an extended decomposition framework, this paper estimates the effect of four main components (policy, demography, market...
In the absence of adequate social security systems, many people in developing countries, especially the poor and vulnerable, cope through migration-related remittances. However, when remittances, internal or international, provide social benefits similar to public transfers they may overlap: ‘crowding-out’ effects occur. Employing three long-sample Vietnam Household Living Standard surveys undertaken...
This paper studies the recent 2007–2009 Global Financial Crisis (GFC) and its transmission through bank lending to emerging Asia economies. It highlights two channels of shock transmission identified in the literature: bank ownership and liquidity. We employ a unique dataset on new loan issuance to Asian borrowers and apply a recently developed method (Khwaja and Mian, 2008. Am. Econ. Rev. 98, 1413–1442)...
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