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The Impact of Macroeconomic Policies on Income Distribution: An Empirical Study of the Philippines

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  • Blejer, Mario I
  • Guerrero, Isabel

Abstract

There has been a growing awareness of the income distribution dimension of macroeconomic policies. This paper studies this issue empirically, considering the case of the Philippines and using data available from integrated surveys of households. After estimating a reduced-form equation, it is found that underemployment, inflation, and government spending worsen income distribution, while productivity gains, the real interest rate, and the real exchange rate improve distribution. A similar pattern emerges when the effects of these variables on the absolute incidence of poverty are estimated. Copyright 1990 by MIT Press.

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  • Blejer, Mario I & Guerrero, Isabel, 1990. "The Impact of Macroeconomic Policies on Income Distribution: An Empirical Study of the Philippines," The Review of Economics and Statistics, MIT Press, vol. 72(3), pages 414-423, August.
  • Handle: RePEc:tpr:restat:v:72:y:1990:i:3:p:414-23
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    Cited by:

    1. Odedokun, Matthew & Round, Jeffery I., 2001. "Determinants of Income Inequality and its Effects on Economic Growth: Evidence from African Countries," WIDER Working Paper Series 103, World Institute for Development Economic Research (UNU-WIDER).
    2. Sato, Sumie & Fukushige, Mototsugu, 2009. "Globalization and economic inequality in the short and long run: The case of South Korea 1975-1995," Journal of Asian Economics, Elsevier, vol. 20(1), pages 62-68, January.
    3. Lídia Farré & Francis Vella, 2008. "Macroeconomic Conditions and the Distribution of Income in Spain," LABOUR, CEIS, vol. 22(3), pages 383-410, September.
    4. Aekapol Chongvilaivan & Jungsuk Kim, 2016. "Individual Income Inequality and Its Drivers in Indonesia: A Theil Decomposition Reassessment," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 126(1), pages 79-98, March.
    5. Phillippe G. Leite & Terry McKinley & Rafael Guerreiro Osório, 2006. "The Post-Apartheid Evolution of Earnings Inequality in South Africa, 1995-2004," Working Papers 32, International Policy Centre for Inclusive Growth.
    6. Fukushige, Mototsugu & Ishikawa, Noriko, 2007. "Decomposing interregional differentials in productivities: An empirical analysis for Japanese data," Economics Letters, Elsevier, vol. 97(3), pages 240-246, December.
    7. Kane, Cheikh & Morisett, Jacques, 1993. "Who would vote for inflation in Brazil? : an integrated framework approach to inflation and income distribution," Policy Research Working Paper Series 1183, The World Bank.
    8. Jorge Martinez-Vazquez, 2007. "Budget Policy and Income Distribution," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0707, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    9. Cysne, Rubens Penha & Turchick, David, 2012. "Equilibrium unemployment-inequality correlation," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 454-469.
    10. Srinivasan T.N., 1992. "Income Distribution and the Macroeconomy: Some Conceptual and Measurement Issues," Philippine Journal of Development JPD 1992 Vol. XIX No. 2-a, Philippine Institute for Development Studies.
    11. Yongzheng Liu, 2017. "Internet and income inequality: A research note," Economics Bulletin, AccessEcon, vol. 37(4), pages 2846-2853.
    12. Gil Bufman & Leonardo Leidennan, 1995. "Israel's Stabilization: Some Important Policy Lessons," NBER Chapters,in: Reform, Recovery, and Growth: Latin America and the Middle East, pages 177-222 National Bureau of Economic Research, Inc.
    13. Jorge Martinez-Vazquez, 2001. "The Impact of Budgets on the Poor: Tax and Benefit," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0110, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    14. N'Yilimon Nantob, 2015. "Income Inequality and Inflation in Developing Countries: An Empirical Investigation," Economics Bulletin, AccessEcon, vol. 35(4), pages 2888-2902.
    15. Ferreira, Francisco & Prennushi, Giovanna & Ravallion, Martin, 1999. "Protecting the poor from macroeconomic shocks," Policy Research Working Paper Series 2160, The World Bank.
    16. Branimir Jovanovic, 2014. "Inflation and the Rich After the Global Financial Crisis," LIS Working papers 613, LIS Cross-National Data Center in Luxembourg.
    17. International Monetary Fund, 2002. "Financial Crises, Poverty, and Income Distribution," IMF Working Papers 02/4, International Monetary Fund.
    18. Umir Wahid & Sally Wallace, 2008. "Incidence of Taxes in Pakistan: Primer and Estimates," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0813, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.

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