Impact of Macroeconomic Policieson Income Distribution: An Empirical Study

International Monetary Fund

No 1988/057, IMF Working Papers from International Monetary Fund

Abstract: There has been a growing awareness of the income distribution dimension of macroeconomic policies. This paper presents a framework for studying this issue empirically, and considers the case of the Philippines using data available from integrated surveys of households. After developing and estimating an analytical model, it was found that underemployment, inflation, and government spending worsen income distribution, while productivity gains, the real interest rate, and the real exchange rate were found to be progressive instruments.

Keywords: WP; government spending; real interest rate; Phillips curve; rate of inflation; earnings curve; higher-income groups; income share; high-income group; curve in quadrant II; Income; Personal income; Wages; Real exchange rates; Real wages (search for similar items in EconPapers)
Pages: 25
Date: 1988-01-01
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