Journal title STUDI ECONOMICI
Author/s Carlo Panico, Antonio Pinto
Publishing Year 2015 Issue 2014/113 Language Italian
Pages 27 P. 34-60 File size 180 KB
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The paper deals with the role of the expansion of the financial sector in the recent increase in income inequality. It first considers the positions presented by Piketty in his recent book on this theme, criticising his neglect of role of the financial sector and his view that the low growth of the economy is inevitably and is not related to the changes in income distribution. Then it presents some analyses to show that the size of the financial sector affects the distribution of income between social groups. By using these analyses, the paper proposes an interpretation of the role of the financial industry in the recent changes in income inequality and in the burst of the recent financial crisis.
Keywords: Income distribution, inequality, financial sector
Jel codes: E25
Carlo Panico, Antonio Pinto, Bassa crescita dell’economia o elevato sviluppo del settore finanziario? Alcune annotazioni sul recente libro di Piketty in "STUDI ECONOMICI " 113/2014, pp 34-60, DOI: 10.3280/STE2014-113002