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31期 编辑：蔡婉秋 审核：丁克达 Topic 31 : Political Uncertainty and Asset Prices Inequality Aversion, Populism, and the Backlash Against Globalization Tax Policy Uncertainty and Asset Prices: Evidence from Dual-class Corporate Bonds in Early 20th Century Political Uncertainty and Commodity Markets 1、Inequality Aversion, Populism, and the Backlash Against Globalization Working paper , issued in August 2018 . Lubos Pastor, University of Chicago Pietro Veronesi, University of Chicago Abstract Motivated by the recent rise of populism in western democracies, we
develop a model in which a populist backlash emerges endogenously in a
growing economy. In the model, voters dislike inequality, especially the
high consumption of “elites.” Economic growth exacerbates inequality
due to heterogeneity in risk aversion. In response to rising inequality,
ri
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