Income inequality during the business cycle: an agent-based approach
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F15%3A86093895" target="_blank" >RIV/61989100:27510/15:86093895 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Income inequality during the business cycle: an agent-based approach
Original language description
This paper simulates the evolution of income inequality during the business cycle. For this purpose we introduce a simple agent-based model with heterogeneous consumers, a heterogeneous labour market and an endogenous business cycle. We distinguish amongthree types of income groups - two types of workers and the unemployed. Income inequality is measured by the Gini coefficient. The results from the simulations confirm the anticyclical movement of income inequality, reflecting even the depth of deviations of output. By using scatterplot the negative but curve-shaped relation between the Gini coefficient and total output is discovered. The highest level of income inequality is not achieved for the lowest value of total output but rather for a slightly higher value. The lowest values of income inequality are connected with higher values of aggregate output.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/EE2.3.20.0296" target="_blank" >EE2.3.20.0296: Research team for modelling of economic and financial processes at VSB-TU Ostrava</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach
Others
Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 13th International Conference "ECONOMIC POLICY IN THE EUROPEAN UNION MEMBER COUNTRIES"
ISBN
978-80-248-3796-3
ISSN
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e-ISSN
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Number of pages
11
Pages from-to
761-771
Publisher name
Vysoká škola báňská - Technická univerzita Ostrava
Place of publication
Ostrava
Event location
Ostrava
Event date
Sep 2, 2015
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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