Inflation and income inequality: A shopping-time approach

• 成果类型: Article
• 署名作者: Cysne, RP; Maldonado, WL; Monteiro, PK
• 署名单位: Getulio Vargas Foundation; Universidade Catolica de Brasilia
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2004.09.002
• 发表日期: 2005
• 页码: 516-528
• 关键词: inflation; Gini coefficient; income inequality; shopping time; Income distribution

摘要

Our work is based on a heterogenous agent shopping-time economy in which economic agents present distinct productivities in the production of the consumption good, and differentiated access to transacting assets. The purpose of the analysis is to investigate whether this setting can lead to a positive correlation between inflation and income inequality. Our main result is to show that, provided the productivity of the interest-bearing asset in the transacting technology is high enough, it is true that a positive link between inflation and income inequality is generated. An example is offered to illustrate the mechanism. (c) 2005 Elsevier B.V. All rights reserved.