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Financial wealth, systemic risk and captive monetary policy worldwide José L. Nicolini-Llosa and Ezequiel Guerra Instituto de Investigaciones Económicas Buenos Aires University

Financial Wealth, system risk and captive monetary policy worldwide

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Page 1: Financial Wealth, system risk and captive monetary policy worldwide

Financial wealth, systemic risk and captive monetary

policy worldwideJosé L. Nicolini-Llosa and Ezequiel GuerraInstituto de Investigaciones Económicas

Buenos Aires University

Page 2: Financial Wealth, system risk and captive monetary policy worldwide

A Simple Model

Page 3: Financial Wealth, system risk and captive monetary policy worldwide

A Simple Model (cont.)

Page 4: Financial Wealth, system risk and captive monetary policy worldwide

Rentiers' Wealth and Income Share of Top 1% of the Population Worldwide

Page 5: Financial Wealth, system risk and captive monetary policy worldwide

Rentiers' Wealth and Income Share of Top 1% of the Population Worldwide (cont.)

Page 6: Financial Wealth, system risk and captive monetary policy worldwide

Rentiers' Wealth and Income Share of Top 1% of the Population Worldwide (cont.)

Page 7: Financial Wealth, system risk and captive monetary policy worldwide

Rentiers Worldwide Wealth to GDP ratio and Top 1% Income

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

0.5

0.6

0.7

0.8

0.9

1.0

1.1

1.2

1.3

1.4

0.06

0.08

0.10

0.12

0.14

0.16

0.18

0.20

Rentiers Wealth/GDP

Top 1% Income Share - Forecast

Top 1% Income Share - Actual Data

Source: Table 1