کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5104358 1480800 2017 33 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Optimal inflation to reduce inequality
ترجمه فارسی عنوان
تورم مطلوب برای کاهش نابرابری
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
A popular argument in favor of price stability is that the inflation-tax burden would disproportionately fall on the poor because wealth is unevenly distributed and portfolio composition of poorer households is skewed towards a larger share of money holdings. We reconsider the issue in a DSGE model characterized by limited participation to the market for interest bearing assets (LAMP). We show that a combination of higher inflation and lower income taxes reduces inequality. When we calibrate the share of constrained agents to fit the wealth Gini index for the US, the optimal inflation rate is above 4%. This result is robust to alternative foundations of money demand equations.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Review of Economic Dynamics - Volume 24, March 2017, Pages 79-94
نویسندگان
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