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Full-Text Articles in Business
Ua37/29 Gary Ransdell - Fed. Reserve Board - Ben Bernanke Confirmation Hearing Q&A, St. Louis Federal Reserve Board
Ua37/29 Gary Ransdell - Fed. Reserve Board - Ben Bernanke Confirmation Hearing Q&A, St. Louis Federal Reserve Board
Faculty/Staff Personal Papers
Question and answers from Ben Bernanke's confirmation hearing as distributed to members of the St. Louis Federal Reserve Board.
Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Ostrup, Lars Oxelheim, Clas Wihlborg
Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Ostrup, Lars Oxelheim, Clas Wihlborg
Business Faculty Articles and Research
Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with …
The Long-Run Determinants Of Australian Income Inequality, Noel Gaston, Gulasekaran Rajaguru
The Long-Run Determinants Of Australian Income Inequality, Noel Gaston, Gulasekaran Rajaguru
Gulasekaran Rajaguru
Recent interest has been stimulated by the growth of income inequality in most developed countries during the 1980s and 1990s. However, considerable uncertainty still exists as to which factors have been the most important causes of this development. This article uses a measure of income inequality derived from taxation statistics and a recently proposed method for testing long-run Granger non-causality to examine the key determinants of Australia's inequality for the years 1970–2001. In line with popular concern, we find that globalisation and technological progress – defined as the global flow of information – has increased income inequality. In contrast, improved …