IDEAS home Printed from https://ideas.repec.org/p/mab/wpaper/8.html
   My bibliography  Save this paper

The Class Content of Preferences Towards Anti-Inflation and Anti Unemployment Policies

Author

Listed:
  • Arjun Jayadev

Abstract

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 is robust to the inclusion of several plausible controls. The idea that the working class is less ‘relatively inflation averse’ is consistent with earlier predictions coming from large body of political economy research in the 1970s. 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..

Suggested Citation

  • Arjun Jayadev, "undated". "The Class Content of Preferences Towards Anti-Inflation and Anti Unemployment Policies," Working Papers 8, University of Massachusetts Boston, Economics Department.
  • Handle: RePEc:mab:wpaper:8
    as

    Download full text from publisher

    File URL: http://repec.umb.edu/RePEc/files/jayadev-cbp.pdf
    File Function: Revised version, 2007 Classification-E24; E31; C42
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. Easterly, William & Fischer, Stanley, 2001. "Inflation and the Poor," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 160-178, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:zbw:hohpro:343 is not listed on IDEAS
    2. Epstein, Gerald., 2009. "Rethinking monetary and financial policy : practical suggestions for monitoring financial stability while generating employment and poverty reduction," ILO Working Papers 994344393402676, International Labour Organization.
    3. 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.
    4. repec:ilo:ilowps:434439 is not listed on IDEAS
    5. Heinz Welsch & Jan K¨¹hling, 2015. "Macroeconomic Preferences by Income and Education Level: Evidence from Subjective Well-Being Data," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 15-32, August.
    6. 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.
    7. repec:old:wpaper:343 is not listed on IDEAS
    8. Gerald Epstein, 2007. "Central banks as agents of employment creation," Working Papers 38, United Nations, Department of Economics and Social Affairs.
    9. Elissa Braunstein, 2013. "Central bank policy and gender," Chapters,in: Handbook of Research on Gender and Economic Life, chapter 21, pages 345-358 Edward Elgar Publishing.
    10. 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.
    11. 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 infl
      ," MPRA Paper 37328, University Library of Munich, Germany, revised 25 Aug 2011.

    More about this item

    Keywords

    Inflation; Unemployment; Social surveys; Radical Political Economy;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mab:wpaper:8. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Arjun Jayadev). General contact details of provider: http://edirc.repec.org/data/deumbus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.