中国通货膨胀对财产不平等的影响
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| Title | The Effects of China’s Inflation on Wealth Inequality
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| 作者 | 陈彦斌 陈伟泽 陈军 邱哲圣 |
| Author | Chen Yanbin, Chen Weize, Chen Jun and Qiu Zhesheng |
| 作者单位 | 中国人民大学经济学院；波士顿大学经济系；斯德哥尔摩经济学院宾夕法尼亚大学经济系 |
| Organization | Renmin University of China; Boston University;tockholm School of Economics;University of Pennsylvania |
| 作者Email | cyb@ruc.edu.cn；sysu2006vc@126.com；jxchjun@gmail.com；qzs_ruc@163.com |
| 中文关键词 | 通货膨胀 财产不平等 通胀福利成本 恩格尔系数 二元经济 |
| Key Words | Inflation; Wealth Inequality; Inflation Welfare Cost; Engel Index; Dual Economy |
| 内容提要 | 本文基于居民资产与消费结构差异等特征，通过构建一个两部门两产品的Bewley模型来研究中国通货膨胀对财产不平等的影响，而已有文献基本上只从居民资产结构差异的角度进行分析。研究结果表明：如果通货膨胀率从0上升到5%，那么总体财产不平等程度将会被加剧，城镇穷人家庭的净财产减持比例将达到富人家庭的30倍以上，农村家庭将遭受到较城镇家庭更高的福利损失。究其原因，除了穷人家庭因为在资产结构中持有更高比例的货币资产，所以在通胀过程中遭受到财产减持与福利损失之外；更重要的是，带有结构性特征的中国通货膨胀会进一步恶化以穷人（尤其是农村的穷人）为代表的高恩格尔系数居民的消费结构，从而导致财产减持与更高的福利损失。 |
| Abstract | Based on the analysis of asset portfolio and consumption structure while previous literatures merely focus on households’ portfolio structure, this paper builds up a Bewley model with two sectors and two products to study the effects of China’s inflation on wealth inequality. The results show us that as inflation rate rises from 0 to 5%, wealth inequality will be intensified, and the percentage of net wealth loss of poor households could be over 30 times as many as that of rich households, and rural households suffer higher welfare loss than the urban do. The poor due to holding higher proportion of money generally suffer more wealth reduction and welfare loss; more importantly, China’s inflation with structural characteristic would further deteriorate consumption structure of high-Engel-Index households, especially the rural and the poor, causing wealth reduction and higher welfare loss. |
| 文章编号 | WP517 |
| 登载时间 | 2013-09-04 |
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