Inflation and the Poor EASTERLY, WILLIAM; Fischer, Stanley

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EASTERLY, WILLIAM ; Fischer, Stanley
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Journal of Money, Credit & Banking
Poor -- Beliefs, opinions and attitudes; Inflation (Economics) -- Economic aspects; Inflation (Finance) -- Economic aspects
Using polling data for 31,869 households in thirty-eight countries and allowing for country effects, we show that the poor are more likely than the rich to mention inflation as a top national concern. This result survives several robustness checks. We also find direct measures of improvements in well-being of the poor--the change in their share in national income, the percent decline in poverty, and the percent change in the real minimum wage--to be negatively correlated with inflation in pooled cross-country samples.
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