Description

This paper presents some conceptual empirical evidence of the relationship between macro-financial stability and equity. In particular, it stresses the fact that episodes of inflationary instability or financial crisis have — conceptually— some negative effects not only on macroeconomic aggregates, but also in distributive and equity dimensions. Empirical facts supports this relationship, based on the fluctuations in income distribution during financial and inflationary crises in Argentina, Chile, Iceland and the United State