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Thioune Thierno (University of Dakar)
Financial instability and inequality dynamics in the waemu
Econometric Research in Finance, 2017, vol. 2, nr 1, s. 43-62, tab., rys., bibliogr. 34 poz.
Słowa kluczowe
Funkcje odpowiedzi na impuls
Impulse Response Functions (IRF)
JEL clasiffication: G10, D63, C15, E37,E44, O55
This article assesses the effect of nancial instability on income inequality and vice versa. The methodology used in this article is based on two approaches: the construction of the synthetic index of nancial instability (SIFI) and the panel vector autoregressive (PVAR) approach. The results obtained help to explain that the disparity of income in a West African Economic and Monetary Union (WAEMU) country in each year negatively in uences the stability of the nancial sector the following year. Functions of impulse responses show that a shock to nancial stability has a negative effect on itself and leads to a stable situation after seven periods. A rise in income inequality in WAEMU countries tends to mitigate nancial instability at rst, before boosting a higher level of instability. Following this increase, inequality will decline, but at a very slow pace.(original abstract)
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Pełny tekst
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