Arbeitspapier
Inflation in developing economies
Phillips curves and natural rates of unemployment provide a poor foundation for analyzing inflation in developing economies. Structuralist alternatives have focused on distributional conflict and cross-sectoral interactions, but if the distributional claims are exogenous, the theory has formal similarities with mainstream analysis, generating a "natural rate of underemployment". This paper outlines a modified structuralist model in which historically determined distributional claims eliminate this natural rate of underemployment. Economic development and structural transformation are not blocked by immutable distributional claims, but shocks to relative incomes can produce explosive inflation.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 2021-08
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
Fiscal and Monetary Policy in Development
- Subject
-
Phillips curve
underemployment
distributional conflict
structuralist model
- Event
-
Geistige Schöpfung
- (who)
-
Skott, Peter
- Event
-
Veröffentlichung
- (who)
-
University of Massachusetts, Department of Economics
- (where)
-
Amherst, MA
- (when)
-
2021
- DOI
-
doi:10.7275/22462455
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Skott, Peter
- University of Massachusetts, Department of Economics
Time of origin
- 2021
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