The class content of preferences towards anti-inflation and anti-unemployment policies
This 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.
Volume (Year): 22 (2008)
Issue (Month): 2 ()
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- Robert J. MacCulloch & Rafael Di Tella & Andrew J. Oswald, 2001.
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