Taking Credit
Redistribution and Borrowing in an Age of Economic Polarization
Bibliographic Data
| ID | 6411083 |
|---|---|
| Authors | John S Ahlquist (0000-0001-8877-3646), Ben W Ansell (0000-0001-8371-0507) |
| Year | 2017 |
| Volume | 69 |
| Issue | 4 |
| Pages | 640-675 |
| Publication date | 2017-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | World Politics (JOURNAL) |
| Journal identifiers | ISSN: 0043-8871 • E-ISSN: 1086-3338 |
| Publisher | Project MUSE (PUBLISHER • US) |
| DOI | 10.1017/s0043887117000089 |
| OpenAlex | W2757609510 |
| Language | EN |
| Citations received | 30 |
| References cited | 58 |
Several recent studies link rising income inequality in the United States to the global financial crisis, arguing that US politicians did not respond to growing inequality with fiscal redistribution. Instead, Americans saved less and borrowed more to maintain relative consumption in the face of widening economic disparities. This article proposes a theory in which fiscal redistribution dampens the willingness of citizens to borrow to fund current consumption. A key implication is that pretax inequality will be more tightly linked with credit in less redistributive countries. The long-run partisan composition of government is, in turn, a key determinant of redistributive effort. Examining a panel of eighteen OECD democracies, the authors find that countries with limited histories of left-wing participation in government are significantly more likely see credit expansion as prefisc inequality grows compared to those in which the political left has been more influential
Consumption (sociology · Development economics · Economic inequality · Economics · Financial crisis · Fiscal policy · Government (linguistics · Inequality · Macroeconomics · Monetary economics · Political science · Politics · Redistribution (election · Redistribution of income and wealth · Fiscal Policies and Political Economy · Housing, Finance, and Neoliberalism · Social Policy and Reform Studies
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Rewealthization in twenty-first century Western countries
Welfare generosity, credit access and household debt
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Economic Inequality, War Finance and the Pursuit of Tax Fairness
Do financial crises increase income inequality
Distributional preferences in a global pandemic
Is Inequality a Side Effect of Central Bank Independence
The impact of welfare on household debt
Financialization, wealth and the changing political aftermaths of banking crises
Taking Credit
Occupation-Specific Skills, Labor Market Context, and Preferences for Redistribution
Borrowing to Self-Insure? Credit Access and Support for Welfare
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Information and Financialization
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Misperceiving Inequality
Varieties of Capitalism
Political Parties, Growth and Equality
Political Bubbles
Trickle-Down Consumption
Inequality, Leverage, and Crises
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Sorting for schools
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The Political Economy of Ownership
Credit Access and Social Welfare
| Unique citing works | 30 |
|---|---|
| Citations per year | 3,33 |
| Citation span | 2017 - 2025 (9) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 30 |