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Does income inequality increase marginal propensity to consume?
- Authors
- Rhee, Dong-Eun; Kim, Hyoungjong
- Issue Date
- 2018
- Publisher
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
- Keywords
- Income inequality; consumption function; Marginal propensity to consume
- Citation
- APPLIED ECONOMICS LETTERS, v.25, no.17, pp.1218 - 1221
- Indexed
- SSCI
SCOPUS
- Journal Title
- APPLIED ECONOMICS LETTERS
- Volume
- 25
- Number
- 17
- Start Page
- 1218
- End Page
- 1221
- ISSN
- 1350-4851
- Abstract
- This article empirically investigates the effects of income inequality on the marginal propensity to consume (MPC), using panel data of 22 OECD countries over the period 1994-2015. We find that MPC increases dramatically as income inequality increases. In subsample analyses, the MPC of a high inequality group is more than twice that of a low inequality group.
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