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Inflation in Developing Economies

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dc.contributor.authorSkott, Peter
dc.contributor.departmentEconomics Department, University of Massachusetts - Amherst
dc.date2023-09-24T06:28:58.000
dc.date.accessioned2024-04-26T16:31:37Z
dc.date.available2021-04-13T00:00:00Z
dc.date.issued2021-01-01
dc.description.abstractPhillips 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.
dc.identifier.doihttps://doi.org/10.7275/22462455
dc.identifier.urihttps://hdl.handle.net/20.500.14394/22290
dc.relation.urlhttps://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1307&context=econ_workingpaper&unstamped=1
dc.rightsUMass Amherst Open Access Policy
dc.source.issue2021-08
dc.source.statuspublished
dc.subjectPhillips curve
dc.subjectunderemployment
dc.subjectdistributional conflict
dc.subjectstructuralist model
dc.subjectEconomics
dc.titleInflation in Developing Economies
dc.typearticle
dc.typearticle
digcom.contributor.authorisAuthorOfPublication|email:pskott@econs.umass.edu|institution:Economics Department, University of Massachusetts - Amherst|Skott, Peter
digcom.date.embargo2021-04-13T00:00:00-07:00
digcom.identifierecon_workingpaper/305
digcom.identifier.contextkey22462455
digcom.identifier.submissionpathecon_workingpaper/305
dspace.entity.typePublication
relation.isAuthorOfPublication9fbadb4c-714f-4bf3-9344-2ac3851cd2e8
relation.isAuthorOfPublication.latestForDiscovery9fbadb4c-714f-4bf3-9344-2ac3851cd2e8
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