TY  - BOOK
AU  - Aizenman,Joshua
AU  - Jinjarak,Yothin
ED  - National Bureau of Economic Research.
TI  - Income inequality, tax base and sovereign spreads
T2  - NBER working paper series
PY  - 2012///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - June 2012; Hardcopy version available to institutional subscribers
N2  - This paper investigates the association between greater income inequality, de-facto fiscal space, and sovereign spreads. Using data from 50 countries in 2007, 2009 and 2011, we find that higher income inequality is associated with a lower tax base, lower de-facto fiscal space, and higher sovereign spreads. The economic magnitude of these effects is large: at the margin, a one point of the Gini coefficient of inequality (in a scale of 0-100), is associated in 2011 with a lower tax base of 2 percent of the GDP, and with a higher sovereign spread of 45 basis points
UR  - https://www.nber.org/papers/w18176
UR  - http://dx.doi.org/10.3386/w18176
ER  -