지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2013.4
- 수록면
- 1 - 29 (29page)
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초록· 키워드
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Monetary policy affects heterogeneously the individual welfare even though its main goals such as income growth and economic stability are well accomplished. This is because macroeconomic policy has different impact on individuals according to their income and other characteristics. Accordingly, monetary policy changes the status of income distribution and poverty. By using Panel System GMM estimation for household and province-level data of Korea from 1997 to 2007, this study investigates short and long-term effects of monetary policy on income distribution as well as poverty. The estimation results are as follows. First, real interest rate and poverty are positively correlated while real interest rate does not have significant effects on income distribution. Second, income growth reduces poverty and improves income distribution. Third, inflation reduces poverty while inflation improves income distribution in the short-term but has no significant effects on income distribution in the long-term. Fourth, long-term effects of monetary policy on poverty gap are greater than short-term effects by 60%. And long-term effects of monetary policy on poverty severity are larger than short-term effects by 53%. But for the Gini coefficient, effects of monetary policy do not last long because the coefficient’s auto-correlation term is not significant.
목차
1. INTRODUCTION
2. LITERATURE REVIEW
3. DATA
4. MODEL SPECIFICATION
5. ESTIMATION RESULTS
6. CONCLUSION
REFERENCES
참고문헌 (20)
참고문헌 신청
1. [학술지(정기간행물)] - Agénor, P.-R. / 2004 / Macroeconomic Adjustment and the Poor: Analytical Issues and Cross-Country Evidence / Journal of Economic Surveys 18 (3) : 351 ~ 408
2. [학술지(정기간행물)] - Albanesi, S. / 2007 / Inflation and Inequality / Journal of Monetary Economics 54 (4) : 1088 ~ 1114
3. [학술지(정기간행물)] - Arellano, M. / 1991 / Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations / The Review of Economic Studies 58 (2) : 277 ~ 297
4. [단행본] - Baltagi, B. H. / 2008 / Econometric Analysis of Panel Data / John Wiley & Sons
5. [학술지(정기간행물)] - Blundell, R. / 1998 / Initial Conditions and Moment Restrictions in Dynamic Panel Data Models / Journal of Econometrics 87 (1) : 115 ~ 143
2. [학술지(정기간행물)] - Albanesi, S. / 2007 / Inflation and Inequality / Journal of Monetary Economics 54 (4) : 1088 ~ 1114
3. [학술지(정기간행물)] - Arellano, M. / 1991 / Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations / The Review of Economic Studies 58 (2) : 277 ~ 297
4. [단행본] - Baltagi, B. H. / 2008 / Econometric Analysis of Panel Data / John Wiley & Sons
5. [학술지(정기간행물)] - Blundell, R. / 1998 / Initial Conditions and Moment Restrictions in Dynamic Panel Data Models / Journal of Econometrics 87 (1) : 115 ~ 143
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UCI(KEPA) : I410-ECN-0101-2014-300-003565506