D31 - Personal Income, Wealth, and Their Distributions

• House Prices, Consumption and the Role of Non-Mortgage Debt

  Staff Working Paper 2013-2 Katya Kartashova, Ben Tomlin

  This paper examines the relationship between house prices and consumption, through the use of debt. Using unique Canadian household-level data that reports the uses of debt, we begin by looking at the relationship between house prices and debt.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Credit and credit aggregates, Domestic demand and components JEL Code(s): D, D1, D10, D14, D3, D31, E, E2, E21

• Aggregate and Welfare Effects of Redistribution of Wealth Under Inflation and Price-Level Targeting

  Staff Working Paper 2008-31 Césaire Meh, José-Víctor Ríos-Rull, Yaz Terajima

  Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth – between households and the government, between nationals and foreigners, and between households within the same country.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Inflation and prices, Inflation targets, Inflation: costs and benefits, Monetary policy framework, Sectoral balance sheet JEL Code(s): D, D3, D31, E, E2, E21, E3, E31, E4, E44, E5, E52, E6, E63

• Inflation, Nominal Portfolios, and Wealth Redistribution in Canada

  Staff Working Paper 2008-19 Césaire Meh, Yaz Terajima

  There is currently a policy debate on potential refinements to monetary policy regimes in countries with low and stable inflation such as the U.S. and Canada. For example, in Canada, a systematic review of the current inflation targeting framework is underway.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Inflation and prices, Inflation targets, Inflation: costs and benefits, Monetary policy framework, Sectoral balance sheet JEL Code(s): D, D3, D31, D5, D58, E, E3, E31, E5, E50

• Unsecured Debt, Consumer Bankruptcy, and Small Business

  Staff Working Paper 2008-5 Césaire Meh, Yaz Terajima

  In this paper we develop a quantitative model of entrepreneurial activity (risk-taking) and consumer bankruptcy choices and use the model to study the effects of bankruptcy regulations on entrepreneurial activity, bankruptcy rate and welfare.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Financial stability, Financial system regulation and policies JEL Code(s): D, D3, D31, E, E2, E21, J, J2, J23

• Education and Self-Employment: Changes in Earnings and Wealth Inequality

  Staff Working Paper 2006-40 Yaz Terajima

  The author quantitatively studies the interaction between education and occupation choices and its implication for the relationship between the changes in earnings inequality and the changes in wealth inequality in the United States over the 1983–2001 period.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Labour markets JEL Code(s): D, D3, D31, I, I2, I21, J, J2, J23

• Uninsurable Investment Risks

  Staff Working Paper 2004-29 Césaire Meh, Vincenzo Quadrini

  The authors study a general-equilibrium economy in which agents have the ability to invest in a risky technology.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Financial Institutions, Financial markets JEL Code(s): D, D3, D31, E, E2, E21, G, G0

• Entrepreneurial Risk, Credit Constraints, and the Corporate Income Tax: A Quantitative Exploration

  Staff Working Paper 2002-21 Césaire Meh

  This paper describes the positive effect that corporate income tax has on capital formation in the presence of liquidity constraints and uninsurable risk.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Fiscal Policy JEL Code(s): D, D3, D31, E, E6, E62, H, H2, H20, H23

• Entrepreneurship, Inequality, and Taxation

  Staff Working Paper 2002-14 Césaire Meh

  This paper confirms the conjecture that the evaluation of tax policy leads to very different conclusions once the role of entrepreneurs is considered. Contrary to previous literature, the author finds that switching from a progressive to a proportional income tax system has a negligible effect on wealth inequality in the United States.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Fiscal Policy JEL Code(s): D, D3, D31, E, E6, E62, H, H2, H20, H23