A problem shared? What can we learn from past recessions about the impact of the next across the income distribution?

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Public Finances and the Economy

While the received wisdom from the 1980s and 1990s recessions was that those at the bottom of the income distribution suffer most during severe downturns. But this was less obvious in the aftermath of the financial crisis. So this briefing note looks at what lessons we can learn from that episode about the distributional impact … Continued