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Inflation, Inequality, and Social Conflict / Christopher Crowe.
- Format:
- Book
- Government document
- Author/Creator:
- Crowe, Christopher.
- Series:
- IMF Working Papers; Working Paper ; No. 2006/158
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Income distribution--Econometric models.
- Income distribution.
- Inflation (Finance)--Social aspects.
- Inflation (Finance).
- Physical Description:
- 1 online resource (39 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2006.
- Language Note:
- English
- Summary:
- 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.
- Contents:
- ""Contents""; ""I. Introduction""; ""II. Household Optimization""; ""III. Political Optimization""; ""IV. Empirical Analysis""; ""V. Concluding Remarks""
- Notes:
- "June 2006."
- Includes bibliographical references.
- Description based on print version record.
- ISBN:
- 9786613828217
- 9781462387137
- 1462387136
- 9781452776378
- 1452776377
- 9781283515764
- 1283515768
- 9781451983937
- 145198393X
- OCLC:
- 698585709
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