The class content of preferences towards anti-inflation and anti-unemployment policies
AbstractThis paper assesses class-based preferences towards anti-inflationary and anti-unemployment policy. Using a consistent cross-country social survey, I find that the working class broadly defined, and those with lower occupational skill and status are more likely to prioritize combating unemployment rather than inflation. The result that the working class is less 'relatively inflation averse' is robust to the inclusion of several plausible controls. In addition, I find that those respondents who exhibit a broadly pro-business and anti-redistributionary attitude are more relatively inflation averse. The finding that inflation and unemployment aversion have a distinct class character has implications for current debates on the implications of macroeconomic policies such as inflation targeting.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal International Review of Applied Economics.
Volume (Year): 22 (2008)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.tandfonline.com/CIRA20
Other versions of this item:
- Arjun Jayadev, . "The Class Content of Preferences Towards Anti-Inflation and Anti Unemployment Policies," Working Papers 8, University of Massachusetts Boston, Economics Department.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert J. MacCulloch & Rafael Di Tella & Andrew J. Oswald, 2001.
"Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness,"
American Economic Review,
American Economic Association, vol. 91(1), pages 335-341, March.
- DiTella, Rafael & MacCulloch, Robert & Oswald, Andrew J., 2001. "Preferences over inflation and unemployment: Evidence from surveys of happiness," ZEI Working Papers B 03-2001, ZEI - Center for European Integration Studies, University of Bonn.
- Robert J. Barro & David B. Gordon, 1983.
"A Positive Theory of Monetary Policy in a Natural-Rate Model,"
NBER Working Papers
0807, National Bureau of Economic Research, Inc.
- Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
- Easterly, William & Fischer, Stanley, 2000.
"Inflation and the poor,"
Policy Research Working Paper Series
2335, The World Bank.
- Néstor Gándelman & Rubén Hernández-Murillo, 2009. "The impact of inflation and unemployment on subjective personal and country evaluations," Review, Federal Reserve Bank of St. Louis, issue May, pages 107-126.
- Epstein, Gerald, 2009. "Rethinking monetary and financial policy : practical suggestions for monitoring financial stability while generating employment and poverty reduction," ILO Working Papers 434439, International Labour Organization.
- Gerald Epstein, 2009. "Rethinking Monetary and Financial Policy: Practical suggestions for monitoring financial stability while generating employment and poverty reduction," Published Studies ilo_epstein11_09, Political Economy Research Institute, University of Massachusetts at Amherst.
- repec:old:wpaper:343 is not listed on IDEAS
- Heinz Welsch & Jan Kühling, 2011. "Anti-Inflation Policy Benefits the Poor: Evidence from Subjective Well-Being Data," Working Papers V-343-11, University of Oldenburg, Department of Economics, revised Dec 2011.
- Valdivia, Daney & Loayza, Lilian, 2010.
"Adopción de metas de inflación y su impacto en las expectativas de inflación y volatilidad del crecimiento económico: evidencia empírica para Bolivia
[Inflation targeting and its impact on the," MPRA Paper 37328, University Library of Munich, Germany, revised 25 Aug 2011.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.