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Inflation and the Income Share of the Rich: Evidence for 14 OECD Countries

Mehdi El Herradi (), Jakob de Haan () and Aurélien Leroy

No 570, Working Papers from ECINEQ, Society for the Study of Economic Inequality

Abstract: This paper examines the distributional implications of inflation on top income shares in 14 advanced economies using data over the period 1920-2016. We use Local Projections to analyze how top income shares respond to an inflation shock, and panel regressions in which all variables are defined as five-year averages to examine the impact of inflation on the position of the top-one-percent in the long run. Our findings suggest that inflation reduces the share of national income held by the top one percent. Furthermore, we find that inflation shocks and long-run inflation have similar effects on top income shares.

Keywords: Inflation; Inequality; Top income shares (search for similar items in EconPapers)
JEL-codes: D63 E50 E52 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2021-01
New Economics Papers: this item is included in nep-cwa and nep-mac
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http://www.ecineq.org/milano/WP/ECINEQ2021-570.pdf First version, 2021 (application/pdf)

Related works:
Working Paper: Inflation and the Income Share of the Rich: Evidence for 14 OECD Countries (2022)
Working Paper: Inflation and the Income Share of the Rich: Evidence for 14 OECD Countries (2022)
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