A New Approach to Modeling the Impacts of Financial Crises on Income Distribution and Poverty
Azis, Iwan J. | March 2002
Abstract
Most studies attempting to link macroeconomic trends—particularly growth—and poverty have used aggregate cross-country data and unsophisticated regression models with limited usefulness for policy analyses. They do not really explain the mechanisms through which growth, let alone macroeconomic fluctuation, affects poverty. In the context of financial crisis, many studies compare poverty conditions before and after the crisis, as if everything that led to the rise of poverty was due to the financial shock. The current study is intended to fill the gap, by making use of an economy-wide model with a price endogenous feature, detailed financial sector, and explicit poverty module. Applied to the case of a specific country—Indonesia—the model is subsequently used to generate a set of counterfactual policy scenarios. It is shown that alternative policies during the crisis would have been more favorable in terms of employment, income distribution, and poverty, compared to the actual (benchmark) scenario.
Citation
Azis, Iwan J.. 2002. A New Approach to Modeling the Impacts of Financial Crises on Income Distribution and Poverty. © Asian Development Bank Institute. http://hdl.handle.net/11540/4141. License: CC BY 3.0 IGO.Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic Policies
Macroeconomic Reform
Macroeconomic Stabilization
Social condition
Economic dependence
Economic assistance
International monetary relations
International monetary relations
International trade
National accounting
Market
Exchange
Comparative economics
Index number
Monetary policy
Value analysis
Adjustment cost
Transaction cost
Conditionality
International relations
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