Search Results

Showing results 1 to 1 of approximately 1.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:historical narrative 

Working Paper
Political Distribution Risk and Aggregate Fluctuations

We argue that political distribution risk is an important driver of aggregate fluctuations. To that end, we document significant changes in the capital share after large political events, such as political realignments, modifications in collective bargaining rules, or the end of dictatorships, in a sample of developed and emerging economies. These policy changes are associated with significant fluctuations in output and asset prices. Using a Bayesian proxy-VAR estimated with U.S. data, we show how distribution shocks cause movements in output, unemployment, and sectoral asset prices. To ...
Working Papers , Paper 17-25

FILTER BY Series

FILTER BY Content Type

FILTER BY Jel Classification

E32 1 items

E37 1 items

E44 1 items

J20 1 items

PREVIOUS / NEXT