The effects of inflation and openness on inequality across alternative monetary regimes

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题名:	The effects of inflation and openness on inequality across alternative monetary regimes
作者:	Chen, Yi-Heng;Huang, Ho-Chuan;Ku, Kuang-Ping
贡献者:	淡江大學產業經濟學系;淡江大學財務金融學系
关键词:	inflation targeting;income inequality;inflation;trade openness
日期:	2015
上传时间:	2015-04-21 13:25:28 (UTC+8)
出版者:	Routledge
摘要:	This article provides the first empirical evidence by employing an endogenous switching regression model to investigate whether the adoption of inflation targeting (IT) alters the relationships between inflation and inequality as well as between openness and inequality. Using a large panel of countries over the 1980–2010 period, we find that policies aiming at stabilizing prices and opening to trade will benefit more from the reduction of income inequality, and the inequality-reducing effects are more pronounced in the IT countries. As a by-product, we find that the inverted-U relationship between inequality and development, that is, the Kuznets’ hypothesis, holds only in the Non-IT countries, not in the IT economies. The findings are unlikely to be driven by the presence of outliers, the use of estimators and the assumptions of errors distribution.
關聯:	Applied Economics Letters 22(4), p.291-298
DOI:	10.1080/13504851.2014.939369
显示于类别:	[財務金融學系暨研究所] 期刊論文 [產業經濟學系暨研究所] 期刊論文

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