Using polling data for 31,869 households in thirty-eight countries and allowingg for country effects, we show that the poor are more likely than the rich to mention inflation as a top national concern. This result survives several robustness checks. We also find direct measures of improvements in well-being of the poor - the change in their share in national income, the percent decline in poverty, and the percent change in the real minimum wage - to be negatively correlated with inflation in pooled cross-country samples.
ASJC Scopus subject areas
- Economics and Econometrics