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Inflation, inequality, and social conflict /
This paper presents and then tests a political economy model to analyze the observed positive relationship between income inequality and inflation. The model's key features are unequal access to both inflation-hedging opportunities and the political process. The model predicts that inequality a...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, IMF Institute,
2006.
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| Colección: | IMF working paper ;
WP/06/158. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper presents and then tests a political economy model to analyze the observed positive relationship between income inequality and inflation. The model's key features are unequal access to both inflation-hedging opportunities and the political process. The model predicts that inequality and 'elite bias' in the political system interact to create incentives for inflation. The paper's empirical section focuses on this predicted interaction effect. The identification strategy involves using the end of the Cold War as a source of exogenous variation in the political environment. It finds robust evidence in support of the model. |
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| Descripción Física: | 1 online resource (37 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1283515768 9781283515764 9781451983937 145198393X 1462387136 9781462387137 1452776377 9781452776378 9786613828217 6613828211 |
| ISSN: | 2227-8885 ; |