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Nominal Devaluations, Inflation and Inequality / Andrés Blanco, Andrés Drenik, Emilio Zaratiegui.
- Format:
- Book
- Author/Creator:
- Blanco, Andrés.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w32494.
- NBER working paper series no. w32494
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2024.
- Summary:
- We study the distribution of labor income during large devaluations. Across countries, inequality falls after large devaluations within the context of a surge in inflation and a fall and subsequent recovery of real labor income. To better understand inequality dynamics, we use a novel administrative dataset covering the 2002 Argentinean devaluation. We show that following a homogeneous fall in real labor income across workers, the bottom of the income distribution recovers faster than the top. Low labor mobility and lack of union coverage among high-income workers explain their slow recovery.
- Notes:
- Print version record
- May 2024.
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