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Inflation, inégalités de répartition et croissance


  • Aristomène Varoudakis


[fre] Les effets des inégalités sur l'inflation sont étudiés dans une économie où les consommateurs sont différenciés suivant que leur revenu provient de facteurs accumulates ou non accumulates. En affectant l'offre de travail, l'inflation réduit la rentabilité du capital et exerce un effet négatif sur la croissance. Suivant le cal­cul de maximisation du soutien électoral, la taxe inflationniste sera d'autant plus privilégiée comme source de recettes fiscales que la répartition des facteurs accu-mutables est inégalitaire. L'incidence positive des inégalités sur l'inflation est empiriquement confirmée sur un échantillon assez large de pays développés et de PVD. [eng] Inflation, inequalities, and growth . This paper studies the influence of wealth and income inequalities on inflation in an economy where consumers belong to two distinct groups depending on whether their income arises from accumulated or non accumulated factors of production. Inflation adversely affects labour supply, reducing the return to capital and leading to a fall in the rate of growth. The inflation tax is set to maximize electoral support, as it would be predicted by the model of probabilistic voting. Its rate is increasing in income and wealth inequalities - captured by the weight of consumers with non accumulated factors of production in the electorate. The relationship between inflation and inequalities is empirically tested in a sample comprising up to 52 developed and developing countries.

Suggested Citation

  • Aristomène Varoudakis, 1995. "Inflation, inégalités de répartition et croissance," Revue Économique, Programme National Persée, vol. 46(3), pages 889-899.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1995_num_46_3_409702
    Note: DOI:10.3406/reco.1995.409702

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    References listed on IDEAS

    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Bertola, Giuseppe, 1993. "Factor Shares and Savings in Endogenous Growth," American Economic Review, American Economic Association, vol. 83(5), pages 1184-1198, December.
    3. Francesco Giavazzi & Marco Pagano, 1991. "The Advantage of Tying One's Hands: EMS Discipline and Central Bank Credibility," NBER Chapters,in: International Volatility and Economic Growth: The First Ten Years of The International Seminar on Macroeconomics, pages 303-330 National Bureau of Economic Research, Inc.
    4. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981.
    5. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 109(2), pages 465-490.
    6. Coughlin, Peter & Nitzan, Shmuel, 1981. "Electoral outcomes with probabilistic voting and Nash social welfare maxima," Journal of Public Economics, Elsevier, vol. 15(1), pages 113-121, February.
    7. McCallum, Bennett T, 1984. "Are Bond-Financed Deficits Inflationary? A Ricardian Analysis," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 123-135, February.
    8. Gomme, Paul, 1993. "Money and growth revisited : Measuring the costs of inflation in an endogenous growth model," Journal of Monetary Economics, Elsevier, vol. 32(1), pages 51-77, August.
    9. Persson, Torsten & Tabellini, Guido, 1994. "Is Inequality Harmful for Growth?," American Economic Review, American Economic Association, vol. 84(3), pages 600-621, June.
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