{"title":"央行独立性如何影响通货膨胀、收入不平等和贫困之间的关系?","authors":"Bruno Pires Tiberto","doi":"10.1016/j.jimonfin.2025.103423","DOIUrl":null,"url":null,"abstract":"<div><div>This study employs panel data analysis for 46 countries from 1980 to 2022 to investigate the impact of inflation on income inequality and poverty, highlighting the mitigating role of central bank independence. Using a comprehensive index of <em>de jure</em> central bank independence, the study assesses its influence on five measures of income inequality, four measures of poverty, and income deciles. The findings suggest structural factors are the main drivers of income inequality and poverty, rather than central bank independence. However, while inflation worsens these issues, central bank independence can counteract the adverse effects of inflation. Moreover, the evidence indicates greater central bank independence disproportionately benefits low-income households at the expense of high-income households, with these redistributive effects being more pronounced at higher levels of independence. In conclusion, central bank independence is pivotal in alleviating the negative impacts of inflationary shocks on income inequality and poverty, thereby promoting social and economic justice.</div></div>","PeriodicalId":48331,"journal":{"name":"Journal of International Money and Finance","volume":"159 ","pages":"Article 103423"},"PeriodicalIF":3.3000,"publicationDate":"2025-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"How does central bank independence influence the relationship between inflation, income inequality and poverty?\",\"authors\":\"Bruno Pires Tiberto\",\"doi\":\"10.1016/j.jimonfin.2025.103423\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This study employs panel data analysis for 46 countries from 1980 to 2022 to investigate the impact of inflation on income inequality and poverty, highlighting the mitigating role of central bank independence. Using a comprehensive index of <em>de jure</em> central bank independence, the study assesses its influence on five measures of income inequality, four measures of poverty, and income deciles. The findings suggest structural factors are the main drivers of income inequality and poverty, rather than central bank independence. However, while inflation worsens these issues, central bank independence can counteract the adverse effects of inflation. Moreover, the evidence indicates greater central bank independence disproportionately benefits low-income households at the expense of high-income households, with these redistributive effects being more pronounced at higher levels of independence. In conclusion, central bank independence is pivotal in alleviating the negative impacts of inflationary shocks on income inequality and poverty, thereby promoting social and economic justice.</div></div>\",\"PeriodicalId\":48331,\"journal\":{\"name\":\"Journal of International Money and Finance\",\"volume\":\"159 \",\"pages\":\"Article 103423\"},\"PeriodicalIF\":3.3000,\"publicationDate\":\"2025-09-04\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of International Money and Finance\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0261560625001585\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Money and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0261560625001585","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
How does central bank independence influence the relationship between inflation, income inequality and poverty?
This study employs panel data analysis for 46 countries from 1980 to 2022 to investigate the impact of inflation on income inequality and poverty, highlighting the mitigating role of central bank independence. Using a comprehensive index of de jure central bank independence, the study assesses its influence on five measures of income inequality, four measures of poverty, and income deciles. The findings suggest structural factors are the main drivers of income inequality and poverty, rather than central bank independence. However, while inflation worsens these issues, central bank independence can counteract the adverse effects of inflation. Moreover, the evidence indicates greater central bank independence disproportionately benefits low-income households at the expense of high-income households, with these redistributive effects being more pronounced at higher levels of independence. In conclusion, central bank independence is pivotal in alleviating the negative impacts of inflationary shocks on income inequality and poverty, thereby promoting social and economic justice.
期刊介绍:
Since its launch in 1982, Journal of International Money and Finance has built up a solid reputation as a high quality scholarly journal devoted to theoretical and empirical research in the fields of international monetary economics, international finance, and the rapidly developing overlap area between the two. Researchers in these areas, and financial market professionals too, pay attention to the articles that the journal publishes. Authors published in the journal are in the forefront of scholarly research on exchange rate behaviour, foreign exchange options, international capital markets, international monetary and fiscal policy, international transmission and related questions.