تحلیل اثر غیرخطی نااطمینانی تورم بر نابرابری درآمد در ایران

نوع مقاله : علمی

نویسندگان

1 عضو هیأت علمی گروه اقتصاد دانشگاه مازندران

2 دانشگاه مازندران

3 دانش‌آموخته مقطع کارشناسی ارشد اقتصاد، دانشگاه مازندران

چکیده

پیش از این، مطالعات متعددی رابطه بین تورم و نابرابری درآمد را مورد بررسی قرار داده‌اند. اما هدف اصلی این مقاله نشان دادن این مهم است که پیش‌بینی‌ناپذیر بودن تورم یا به اصطلاح نااطمینانی تورم نیز می‌تواند موجب نابرابری درآمد شود چرا که اقشار ضعیف جامعه به‌دلیل در اختیار نداشتن ابزارهای بازار سرمایه در شرایطی که وضعیت اقتصادی متلاطم باشد تصمیمات اقتصادی غلطی می‌گیرند. در پژوهش حاضر اثر نااطمینانی تورم بر نابرابری درآمد در دوره زمانی 1400-1350 بررسی گردید. ابتدا نااطمینانی تورم به وسیله مدل گارچ و داده‌های تورم محاسبه و سپس اثر نااطمینانی تورم بر نابرابری درآمد در قالب الگوی خودرگرسیونی با وقفه‌های توزیعی خطی و غیرخطی برآورد گردید. نتایج حاکی از آن است که با توجه به الگوی خودرگرسیونی با وقفه‌های توزیعی خطی در بلندمدت، نااطمینانی تورم بر نابرابری درآمد اثر معناداری ندارد، اما در الگوی غیرخطی در بلندمدت، نااطمینانی تورم بر نابرابری درآمد تأثیر مثبت و معناداری دارد. وقتی نااطمینانی یا نوسانات تورم کم می‌شود، نابرابری درآمد در ایران کمتر می‌شود. این نکته یافته اصلی این مطالعه است. در سوی مقابل، افزایش نااطمینانی اثر معناداری بر نابرابری درآمد نداشته است.

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

Analyzing the Nonlinear Effect of Inflation Uncertainty on Income Inequality in Iran

نویسندگان [English]

  • Mohammad Abdi Seyyedkolaee 1
  • Mani Motameni 2
  • Solmaz Babazadeh 3
1 Assistant Professor of Economics, University of Mazandaran
2 University of Mazandaran, Faculty of Economics and Administrative Science
3 M.A. in Economics, University of Mazandaran,
چکیده [English]

Previously, several studies have investigated the relationship between inflation and income inequality. But the main purpose of this article is to show that the unpredictability of inflation or the so-called uncertainty of inflation can also cause income inequality, because the weak sections of the society make wrong economic decisions due to not having capital market tools at their disposal when the economic situation is turbulent. In this study, the effect of inflation uncertainty on income inequality in Iran in the period of 1971-2021 was investigated. First, inflation uncertainty was calculated using the GARCH model and inflation data, and then the effect of inflation uncertainty on income inequality was estimated in the form of Autoregressive Distributed Lag (ARDL) and Nonlinear Autoregressive Distributed Lag (NARDL). The results indicate that in linear ARDL, inflation uncertainty does not have a significant effect on income inequality in the long run, but in NARDL, in the long term, inflation uncertainty has a positive and significant effect on income inequality. When uncertainty or inflation fluctuations decrease, income inequality in Iran decreases. This point is the main finding of this study. On the other hand, the increase in uncertainty has not had a significant effect on income inequality.

کلیدواژه‌ها [English]

  • Inflation Uncertainty
  • Income Inequality
  • Gini Coefficient
  • Autoregressive Distributed Lag (ARDL)
  • Iran
 
Aboonoori, A., Mufateh, S., & Parhizi Gashti, H. (2019). Analysis of the effect of inflation on income distribution in Iran (Comparative analysis of urban and rural areas of Iran). Journal of Financial Economics (Quarterly Journal of Economic Sciences), 5(13), 77-96 (In Persian). https://www.sid.ir/paper/229251/fa#downloadbottom
Ahmadi Shadmehri, M., Ebrahimi Salari, T., Shabani Koshalshahi, Z., & Ajori Ayask, A. (2023). Consumer behavior response to Macroeconomic Uncertainty (Case study: OPEC Countries). Quarterly Journal of Quantitative Economics, 20(1), 74-98 (In Persian). https://doi.org/10.22055/jqe.2021.36248.2324
Ali, A. (2016). Issue of  Income Inequality under the Perceptive of Macroeconmic Instability: An Empirical Analysis of Pakistan. Munich Personal RePEc Archive (MPRA) Paper, 74963, Retrieved from http://mpra.ub.uni-muenchen.de/74963/
Arabmazar, A., & Nazari Govar, S. (2012). The effect of inflation uncertainty on private investment in Iran. Journal of Iran' s Economic Essays; an Islamic Approach, 9(18), 59-76 (In Persian). https://iee.rihu.ac.ir/article_96.html
Ashraf Ganjoee, R., Akbari Fard, H., Jalaee Esfandabadi, S. A. M., & Mashinchi, M. (2021). Estimating the Impact of Uncertainty of Macroeconomic and Foreign Trade Variables on Income Distribution among Income Deciles. Journal of Quantitative Economics, (), - (In Persian). https://doi.org/10.22055/jqe.2021.36781.2350
Bollerslev, T. (1986). Generalized autoregressive conditional heteroskedasticity. Journal of Econometrics, 31(3), 307-327. https://doi.org/10.1016/0304-4076(86)90063-1
Dahmardeh, N., Safdari, M., & Pourshahabi, F. (2009). Modeling of Iran Economy Inflation Uncertainty. Quarterly Journal of Economic Research and Policies, 17(50), 77- 92 (In Persian). https://qjerp.ir/browse.php?a_id=260&sid=1&slc_lang=fa
Ditta, A., & Hayat, M. A. (2017). Macroeconomic Instability and its Role on Income Inequality in Developing Countries: A Panel Data Analysis. Pakistan Economic and Social Review, 55(2), 613-636. https://www.jstor.org/stable/26616728
Duro, J. A. (2004). Regional Income Inequalities in Europe: An Updated Measurement and Some Decomposition Results. Working Papers from Department of Applied Economics at Universitat Autonoma of Barcelona, 04.11, Retrieved from https://ecap.uab.cat/repec/doc/wpdea0411.pdf
Engle, R. F. (1982). Autoregressive Conditional Heteroscedasticity with Estimates of Variance of United Kingdom Inflation. Economtrica, 50(4), 987-1007. https://doi.org/10.2307/1912773
Fawaz, F., Rahnamamoghadam, M. & Valcarcel, V. (2012). Fluctuations, Uncertainty and Income Inequality in Developing Countries. Eastern Economic Journal, 38, 495–511. https://link.springer.com/article/10.1057/eej.2011.32
Feizi, M., Beiranvand, M., & Malekosadati, S. (2020). Effect of Unemployment, Inflation and Minimum Wage on Income Inequality in Rural Areas of Iranian Provinces. A Quarterly Journal of The Macro and Strategic Policies, 8(Special Issue), 30-45 (In Persian). https://www.jmsp.ir/article_102779.html
Galli, R., & Van der Hoeven, R. (2001). Is inflation bad for income inequality: The importance of the initial rate of inflation. Employment Paper, Retrieved from https://www.ilo.org/publications/inflation-bad-income-inequality-importance-initial-rate-inflation
Golob, J. E. (1994). Does Inflation Uncertainty Increase with Inflation? Economic Review, 79(3), 27-38. https://www.kansascityfed.org/documents/1011/1994-Does%20Inflation%20Uncertainty%20Increase%20with%20Inflation%3F.pdf
Gonzales, R., & Rojas-Hosse, A. (2019). Inflation shocks and income inequality: An analysis with genetic algorithms and Bayesian quantile regression. African Journal of Economic and Management Studies, 10(2), 226-240. https://uia.brage.unit.no/uia-xmlui/bitstream/handle/11250/2600475/AJEMS-10-2018-0299.pdf?isAllowed=y&sequence=1
Grier, K. B., & Perry, M. J. (1998). On inflation and inflation uncertainty in the G7 countries. Journal of International Money and Finance, 17(4), 671-689. https://doi.org/10.1016/S0261-5606(98)00023-0
Hubbard, D. W. (2007). How to Measure Anything: Finding the Value of Intangibles in Business. John Wiley and Sons.
Iheanacho, E. (2017). Empirical Review on the Relationship between Real Wages, Inflation and Labour Productivity in Nigeria: ARDL bounds testing approach. International Issues in Economics and Business, 3(1), 9-29. https://www.macrothink.org/journal/index.php/ieb/article/view/11463/9135
Jeperson, J. (2009). Post-Keynesian economics: uncertainty, effective demand & (un)sustainable development. Paper presented at the AEH-conference, London, 9-12 July 2009, Retrieved from file:///C:/Users/Mohammad%20Abdi/Downloads/Post-Keynesianeconomicsuncertaintyeffectivedemandunsustainabledevelopment.pdf
Kim, D. H., & Lin, S. C. (2023). Income inequality, inflation and financial development. Journal of Empirical Finance, 72, 468- 487. https://doi.org/10.1016/j.jempfin.2023.04.008
Law, C. H. & Soon, S. V. (2020). The impact of inflation on income inequality: the role of institutional quality. Applied Economics Letter, 27(21), 1735-1738. https://doi.org/10.1080/13504851.2020.1717425
Levy, F. (1995). Incomes and income Inequality. State of the Union: America in the 1990s, 1, 1-58. https://www.jstor.org/stable/10.7758/9781610441964.6
Miles, W., Vijverberg, C. P. (2011). Formal targets, central bank independence and inflation dynamics in the UK: A Markov-Switching approach. Journal of Macroeconomics, 33(4), 644-655. https://doi.org/10.1016/j.jmacro.2011.04.003
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16(3), 289-326. https://www.jstor.org/stable/2678547
Piraee, K., & Dadvar, B. (2011). The Effect of Inflation on Economic Growth in Iran with Special Emphasis on Uncertainty. The Economic Research (Sustainable Growth and Development), 11(1), 67-80 (In Persian). https://ecor.modares.ac.ir/article-18-91-fa.html
Pyatt, G., Chen, C. N., & Fei, J. (1980). The Distribution of Income by Factor Components. The Quarterly Journal of Economics, 95(3), 451-473. https://www.jstor.org/stable/1885088
Raghfar, H., Khoshdast, F., & Yazdanpanah, M. (2012). Measurement of Income Inequality in Iran, 1984-2010. Social Welfare Quarterly, 12(45), 275-305 (In Persian). https://refahj.uswr.ac.ir/article-1-1013-fa.html
Sadeghi, H., Basakha, M., & Shaghaghi Shahri, V. (2009). Relation of Economic Growth with Poverty and Inequality in Developing Countries. Social Welfare Quarterly, 8(33), 27-44 (In Persian). https://refahj.uswr.ac.ir/article-1-1856-fa.html
Shahabadi, A., Salmani, Y., & Valinia, A. (2016). The Relationship between Inflation and Inflation Uncertainty with an Retional Expectation in Iran. Monetary & Financial Economics, 23(12), 45-63 (In Persian). https://doi.org/10.22067/pm.v23i12.22017
Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2013). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. Festschrift in Honor of Peter Schmidt, W.C. Horrace and R.C. Sickles, eds., Forthcoming, Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1807745
Thalassinos, E., Ugurlu, E. & Muratoglu, Y. (2012). Income Inequality and Inflation in the EU. European Research Studies, 15(1), 127-140. https://www.ersj.eu/repec/ers/papers/12_1_p7.pdf
Theophilopoulou, A. (2022). The impact of macroeconomic uncertainty on inequality: An empirical study for the United Kingdom. Journal of Money, Credit and Banking, 54(4), 859-884. https://doi.org/10.1111/jmcb.12852
 
Ybrayev, Z. (2022). Distributional Consequences of Monetary Policy in Emerging Economies: Dollarization, Domestic Inflation, and Income Divergence. Comparative Economic Studies, 64, 186-210. https://link.springer.com/article/10.1057/s41294-021-00163-2
www.cbi.ir
Zaroki, S., Abdi Seyyedkolaee, M., & Yousefi Barfurush, A. (2021). Analyzing the Role of Macroeconomic Instability on Income Inequality in Iran. The Economic Research (Sustainable Growth and Development), 21(4), 37-63 (In Persian). https://ecor.modares.ac.ir/article-18-48402-fa.html
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
References
Aboonoori, A., Mufateh, S., & Parhizi Gashti, H. (2019). Analysis of the effect of inflation on income distribution in Iran (Comparative analysis of urban and rural areas of Iran). Journal of Financial Economics (Quarterly Journal of Economic Sciences), 5(13), 77-96 (In Persian). https://www.sid.ir/paper/229251/fa#downloadbottom
Ahmadi Shadmehri, M., Ebrahimi Salari, T., Shabani Koshalshahi, Z., & Ajori Ayask, A. (2023). Consumer behavior response to Macroeconomic Uncertainty (Case study: OPEC Countries). Quarterly Journal of Quantitative Economics, 20(1), 74-98 (In Persian). https://doi.org/10.22055/jqe.2021.36248.2324
Ali, A. (2016). Issue of  Income Inequality under the Perceptive of Macroeconmic Instability: An Empirical Analysis of Pakistan. Munich Personal RePEc Archive (MPRA) Paper, 74963, Retrieved from http://mpra.ub.uni-muenchen.de/74963/
Arabmazar, A., & Nazari Govar, S. (2012). The effect of inflation uncertainty on private investment in Iran. Journal of Iran' s Economic Essays; an Islamic Approach, 9(18), 59-76 (In Persian). https://iee.rihu.ac.ir/article_96.html
Ashraf Ganjoee, R., Akbari Fard, H., Jalaee Esfandabadi, S. A. M., & Mashinchi, M. (2021). Estimating the Impact of Uncertainty of Macroeconomic and Foreign Trade Variables on Income Distribution among Income Deciles. Journal of Quantitative Economics, (), - (In Persian). https://doi.org/10.22055/jqe.2021.36781.2350
Bollerslev, T. (1986). Generalized autoregressive conditional heteroskedasticity. Journal of Econometrics, 31(3), 307-327. https://doi.org/10.1016/0304-4076(86)90063-1
Dahmardeh, N., Safdari, M., & Pourshahabi, F. (2009). Modeling of Iran Economy Inflation Uncertainty. Quarterly Journal of Economic Research and Policies, 17(50), 77- 92 (In Persian). https://qjerp.ir/browse.php?a_id=260&sid=1&slc_lang=fa
Ditta, A., & Hayat, M. A. (2017). Macroeconomic Instability and its Role on Income Inequality in Developing Countries: A Panel Data Analysis. Pakistan Economic and Social Review, 55(2), 613-636. https://www.jstor.org/stable/26616728
Duro, J. A. (2004). Regional Income Inequalities in Europe: An Updated Measurement and Some Decomposition Results. Working Papers from Department of Applied Economics at Universitat Autonoma of Barcelona, 04.11, Retrieved from https://ecap.uab.cat/repec/doc/wpdea0411.pdf
Engle, R. F. (1982). Autoregressive Conditional Heteroscedasticity with Estimates of Variance of United Kingdom Inflation. Economtrica, 50(4), 987-1007. https://doi.org/10.2307/1912773
Fawaz, F., Rahnamamoghadam, M. & Valcarcel, V. (2012). Fluctuations, Uncertainty and Income Inequality in Developing Countries. Eastern Economic Journal, 38, 495–511. https://link.springer.com/article/10.1057/eej.2011.32
Feizi, M., Beiranvand, M., & Malekosadati, S. (2020). Effect of Unemployment, Inflation and Minimum Wage on Income Inequality in Rural Areas of Iranian Provinces. A Quarterly Journal of The Macro and Strategic Policies, 8(Special Issue), 30-45 (In Persian). https://www.jmsp.ir/article_102779.html
Galli, R., & Van der Hoeven, R. (2001). Is inflation bad for income inequality: The importance of the initial rate of inflation. Employment Paper, Retrieved from https://www.ilo.org/publications/inflation-bad-income-inequality-importance-initial-rate-inflation
Golob, J. E. (1994). Does Inflation Uncertainty Increase with Inflation? Economic Review, 79(3), 27-38. https://www.kansascityfed.org/documents/1011/1994-Does%20Inflation%20Uncertainty%20Increase%20with%20Inflation%3F.pdf
Gonzales, R., & Rojas-Hosse, A. (2019). Inflation shocks and income inequality: An analysis with genetic algorithms and Bayesian quantile regression. African Journal of Economic and Management Studies, 10(2), 226-240. https://uia.brage.unit.no/uia-xmlui/bitstream/handle/11250/2600475/AJEMS-10-2018-0299.pdf?isAllowed=y&sequence=1
Grier, K. B., & Perry, M. J. (1998). On inflation and inflation uncertainty in the G7 countries. Journal of International Money and Finance, 17(4), 671-689. https://doi.org/10.1016/S0261-5606(98)00023-0
Hubbard, D. W. (2007). How to Measure Anything: Finding the Value of Intangibles in Business. John Wiley and Sons.
Iheanacho, E. (2017). Empirical Review on the Relationship between Real Wages, Inflation and Labour Productivity in Nigeria: ARDL bounds testing approach. International Issues in Economics and Business, 3(1), 9-29. https://www.macrothink.org/journal/index.php/ieb/article/view/11463/9135
Jeperson, J. (2009). Post-Keynesian economics: uncertainty, effective demand & (un)sustainable development. Paper presented at the AEH-conference, London, 9-12 July 2009, Retrieved from file:///C:/Users/Mohammad%20Abdi/Downloads/Post-Keynesianeconomicsuncertaintyeffectivedemandunsustainabledevelopment.pdf
Kim, D. H., & Lin, S. C. (2023). Income inequality, inflation and financial development. Journal of Empirical Finance, 72, 468- 487. https://doi.org/10.1016/j.jempfin.2023.04.008
Law, C. H. & Soon, S. V. (2020). The impact of inflation on income inequality: the role of institutional quality. Applied Economics Letter, 27(21), 1735-1738. https://doi.org/10.1080/13504851.2020.1717425
Levy, F. (1995). Incomes and income Inequality. State of the Union: America in the 1990s, 1, 1-58. https://www.jstor.org/stable/10.7758/9781610441964.6
Miles, W., Vijverberg, C. P. (2011). Formal targets, central bank independence and inflation dynamics in the UK: A Markov-Switching approach. Journal of Macroeconomics, 33(4), 644-655. https://doi.org/10.1016/j.jmacro.2011.04.003
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16(3), 289-326. https://www.jstor.org/stable/2678547
Piraee, K., & Dadvar, B. (2011). The Effect of Inflation on Economic Growth in Iran with Special Emphasis on Uncertainty. The Economic Research (Sustainable Growth and Development), 11(1), 67-80 (In Persian). https://ecor.modares.ac.ir/article-18-91-fa.html
Pyatt, G., Chen, C. N., & Fei, J. (1980). The Distribution of Income by Factor Components. The Quarterly Journal of Economics, 95(3), 451-473. https://www.jstor.org/stable/1885088
Raghfar, H., Khoshdast, F., & Yazdanpanah, M. (2012). Measurement of Income Inequality in Iran, 1984-2010. Social Welfare Quarterly, 12(45), 275-305 (In Persian). https://refahj.uswr.ac.ir/article-1-1013-fa.html
Sadeghi, H., Basakha, M., & Shaghaghi Shahri, V. (2009). Relation of Economic Growth with Poverty and Inequality in Developing Countries. Social Welfare Quarterly, 8(33), 27-44 (In Persian). https://refahj.uswr.ac.ir/article-1-1856-fa.html
Shahabadi, A., Salmani, Y., & Valinia, A. (2016). The Relationship between Inflation and Inflation Uncertainty with an Retional Expectation in Iran. Monetary & Financial Economics, 23(12), 45-63 (In Persian). https://doi.org/10.22067/pm.v23i12.22017
Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2013). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. Festschrift in Honor of Peter Schmidt, W.C. Horrace and R.C. Sickles, eds., Forthcoming, Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1807745
Thalassinos, E., Ugurlu, E. & Muratoglu, Y. (2012). Income Inequality and Inflation in the EU. European Research Studies, 15(1), 127-140. https://www.ersj.eu/repec/ers/papers/12_1_p7.pdf
Theophilopoulou, A. (2022). The impact of macroeconomic uncertainty on inequality: An empirical study for the United Kingdom. Journal of Money, Credit and Banking, 54(4), 859-884. https://doi.org/10.1111/jmcb.12852
 
Ybrayev, Z. (2022). Distributional Consequences of Monetary Policy in Emerging Economies: Dollarization, Domestic Inflation, and Income Divergence. Comparative Economic Studies, 64, 186-210. https://link.springer.com/article/10.1057/s41294-021-00163-2
www.cbi.ir
Zaroki, S., Abdi Seyyedkolaee, M., & Yousefi Barfurush, A. (2021). Analyzing the Role of Macroeconomic Instability on Income Inequality in Iran. The Economic Research (Sustainable Growth and Development), 21(4), 37-63 (In Persian). https://ecor.modares.ac.ir/article-18-48402-fa.html
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
References
Aboonoori, A., Mufateh, S., & Parhizi Gashti, H. (2019). Analysis of the effect of inflation on income distribution in Iran (Comparative analysis of urban and rural areas of Iran). Journal of Financial Economics (Quarterly Journal of Economic Sciences), 5(13), 77-96 (In Persian). https://www.sid.ir/paper/229251/fa#downloadbottom
Ahmadi Shadmehri, M., Ebrahimi Salari, T., Shabani Koshalshahi, Z., & Ajori Ayask, A. (2023). Consumer behavior response to Macroeconomic Uncertainty (Case study: OPEC Countries). Quarterly Journal of Quantitative Economics, 20(1), 74-98 (In Persian). https://doi.org/10.22055/jqe.2021.36248.2324
Ali, A. (2016). Issue of  Income Inequality under the Perceptive of Macroeconmic Instability: An Empirical Analysis of Pakistan. Munich Personal RePEc Archive (MPRA) Paper, 74963, Retrieved from http://mpra.ub.uni-muenchen.de/74963/
Arabmazar, A., & Nazari Govar, S. (2012). The effect of inflation uncertainty on private investment in Iran. Journal of Iran' s Economic Essays; an Islamic Approach, 9(18), 59-76 (In Persian). https://iee.rihu.ac.ir/article_96.html
Ashraf Ganjoee, R., Akbari Fard, H., Jalaee Esfandabadi, S. A. M., & Mashinchi, M. (2021). Estimating the Impact of Uncertainty of Macroeconomic and Foreign Trade Variables on Income Distribution among Income Deciles. Journal of Quantitative Economics, (), - (In Persian). https://doi.org/10.22055/jqe.2021.36781.2350
Bollerslev, T. (1986). Generalized autoregressive conditional heteroskedasticity. Journal of Econometrics, 31(3), 307-327. https://doi.org/10.1016/0304-4076(86)90063-1
Dahmardeh, N., Safdari, M., & Pourshahabi, F. (2009). Modeling of Iran Economy Inflation Uncertainty. Quarterly Journal of Economic Research and Policies, 17(50), 77- 92 (In Persian). https://qjerp.ir/browse.php?a_id=260&sid=1&slc_lang=fa
Ditta, A., & Hayat, M. A. (2017). Macroeconomic Instability and its Role on Income Inequality in Developing Countries: A Panel Data Analysis. Pakistan Economic and Social Review, 55(2), 613-636. https://www.jstor.org/stable/26616728
Duro, J. A. (2004). Regional Income Inequalities in Europe: An Updated Measurement and Some Decomposition Results. Working Papers from Department of Applied Economics at Universitat Autonoma of Barcelona, 04.11, Retrieved from https://ecap.uab.cat/repec/doc/wpdea0411.pdf
Engle, R. F. (1982). Autoregressive Conditional Heteroscedasticity with Estimates of Variance of United Kingdom Inflation. Economtrica, 50(4), 987-1007. https://doi.org/10.2307/1912773
Fawaz, F., Rahnamamoghadam, M. & Valcarcel, V. (2012). Fluctuations, Uncertainty and Income Inequality in Developing Countries. Eastern Economic Journal, 38, 495–511. https://link.springer.com/article/10.1057/eej.2011.32
Feizi, M., Beiranvand, M., & Malekosadati, S. (2020). Effect of Unemployment, Inflation and Minimum Wage on Income Inequality in Rural Areas of Iranian Provinces. A Quarterly Journal of The Macro and Strategic Policies, 8(Special Issue), 30-45 (In Persian). https://www.jmsp.ir/article_102779.html
Galli, R., & Van der Hoeven, R. (2001). Is inflation bad for income inequality: The importance of the initial rate of inflation. Employment Paper, Retrieved from https://www.ilo.org/publications/inflation-bad-income-inequality-importance-initial-rate-inflation
Golob, J. E. (1994). Does Inflation Uncertainty Increase with Inflation? Economic Review, 79(3), 27-38. https://www.kansascityfed.org/documents/1011/1994-Does%20Inflation%20Uncertainty%20Increase%20with%20Inflation%3F.pdf
Gonzales, R., & Rojas-Hosse, A. (2019). Inflation shocks and income inequality: An analysis with genetic algorithms and Bayesian quantile regression. African Journal of Economic and Management Studies, 10(2), 226-240. https://uia.brage.unit.no/uia-xmlui/bitstream/handle/11250/2600475/AJEMS-10-2018-0299.pdf?isAllowed=y&sequence=1
Grier, K. B., & Perry, M. J. (1998). On inflation and inflation uncertainty in the G7 countries. Journal of International Money and Finance, 17(4), 671-689. https://doi.org/10.1016/S0261-5606(98)00023-0
Hubbard, D. W. (2007). How to Measure Anything: Finding the Value of Intangibles in Business. John Wiley and Sons.
Iheanacho, E. (2017). Empirical Review on the Relationship between Real Wages, Inflation and Labour Productivity in Nigeria: ARDL bounds testing approach. International Issues in Economics and Business, 3(1), 9-29. https://www.macrothink.org/journal/index.php/ieb/article/view/11463/9135
Jeperson, J. (2009). Post-Keynesian economics: uncertainty, effective demand & (un)sustainable development. Paper presented at the AEH-conference, London, 9-12 July 2009, Retrieved from file:///C:/Users/Mohammad%20Abdi/Downloads/Post-Keynesianeconomicsuncertaintyeffectivedemandunsustainabledevelopment.pdf
Kim, D. H., & Lin, S. C. (2023). Income inequality, inflation and financial development. Journal of Empirical Finance, 72, 468- 487. https://doi.org/10.1016/j.jempfin.2023.04.008
Law, C. H. & Soon, S. V. (2020). The impact of inflation on income inequality: the role of institutional quality. Applied Economics Letter, 27(21), 1735-1738. https://doi.org/10.1080/13504851.2020.1717425
Levy, F. (1995). Incomes and income Inequality. State of the Union: America in the 1990s, 1, 1-58. https://www.jstor.org/stable/10.7758/9781610441964.6
Miles, W., Vijverberg, C. P. (2011). Formal targets, central bank independence and inflation dynamics in the UK: A Markov-Switching approach. Journal of Macroeconomics, 33(4), 644-655. https://doi.org/10.1016/j.jmacro.2011.04.003
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16(3), 289-326. https://www.jstor.org/stable/2678547
Piraee, K., & Dadvar, B. (2011). The Effect of Inflation on Economic Growth in Iran with Special Emphasis on Uncertainty. The Economic Research (Sustainable Growth and Development), 11(1), 67-80 (In Persian). https://ecor.modares.ac.ir/article-18-91-fa.html
Pyatt, G., Chen, C. N., & Fei, J. (1980). The Distribution of Income by Factor Components. The Quarterly Journal of Economics, 95(3), 451-473. https://www.jstor.org/stable/1885088
Raghfar, H., Khoshdast, F., & Yazdanpanah, M. (2012). Measurement of Income Inequality in Iran, 1984-2010. Social Welfare Quarterly, 12(45), 275-305 (In Persian). https://refahj.uswr.ac.ir/article-1-1013-fa.html
Sadeghi, H., Basakha, M., & Shaghaghi Shahri, V. (2009). Relation of Economic Growth with Poverty and Inequality in Developing Countries. Social Welfare Quarterly, 8(33), 27-44 (In Persian). https://refahj.uswr.ac.ir/article-1-1856-fa.html
Shahabadi, A., Salmani, Y., & Valinia, A. (2016). The Relationship between Inflation and Inflation Uncertainty with an Retional Expectation in Iran. Monetary & Financial Economics, 23(12), 45-63 (In Persian). https://doi.org/10.22067/pm.v23i12.22017
Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2013). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. Festschrift in Honor of Peter Schmidt, W.C. Horrace and R.C. Sickles, eds., Forthcoming, Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1807745
Thalassinos, E., Ugurlu, E. & Muratoglu, Y. (2012). Income Inequality and Inflation in the EU. European Research Studies, 15(1), 127-140. https://www.ersj.eu/repec/ers/papers/12_1_p7.pdf
Theophilopoulou, A. (2022). The impact of macroeconomic uncertainty on inequality: An empirical study for the United Kingdom. Journal of Money, Credit and Banking, 54(4), 859-884. https://doi.org/10.1111/jmcb.12852
 
Ybrayev, Z. (2022). Distributional Consequences of Monetary Policy in Emerging Economies: Dollarization, Domestic Inflation, and Income Divergence. Comparative Economic Studies, 64, 186-210. https://link.springer.com/article/10.1057/s41294-021-00163-2
www.cbi.ir
Zaroki, S., Abdi Seyyedkolaee, M., & Yousefi Barfurush, A. (2021). Analyzing the Role of Macroeconomic Instability on Income Inequality in Iran. The Economic Research (Sustainable Growth and Development), 21(4), 37-63 (In Persian). https://ecor.modares.ac.ir/article-18-48402-fa.html
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
References
Aboonoori, A., Mufateh, S., & Parhizi Gashti, H. (2019). Analysis of the effect of inflation on income distribution in Iran (Comparative analysis of urban and rural areas of Iran). Journal of Financial Economics (Quarterly Journal of Economic Sciences), 5(13), 77-96 (In Persian). https://www.sid.ir/paper/229251/fa#downloadbottom
Ahmadi Shadmehri, M., Ebrahimi Salari, T., Shabani Koshalshahi, Z., & Ajori Ayask, A. (2023). Consumer behavior response to Macroeconomic Uncertainty (Case study: OPEC Countries). Quarterly Journal of Quantitative Economics, 20(1), 74-98 (In Persian). https://doi.org/10.22055/jqe.2021.36248.2324
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Arabmazar, A., & Nazari Govar, S. (2012). The effect of inflation uncertainty on private investment in Iran. Journal of Iran' s Economic Essays; an Islamic Approach, 9(18), 59-76 (In Persian). https://iee.rihu.ac.ir/article_96.html
Ashraf Ganjoee, R., Akbari Fard, H., Jalaee Esfandabadi, S. A. M., & Mashinchi, M. (2021). Estimating the Impact of Uncertainty of Macroeconomic and Foreign Trade Variables on Income Distribution among Income Deciles. Journal of Quantitative Economics, (), - (In Persian). https://doi.org/10.22055/jqe.2021.36781.2350
Bollerslev, T. (1986). Generalized autoregressive conditional heteroskedasticity. Journal of Econometrics, 31(3), 307-327. https://doi.org/10.1016/0304-4076(86)90063-1
Dahmardeh, N., Safdari, M., & Pourshahabi, F. (2009). Modeling of Iran Economy Inflation Uncertainty. Quarterly Journal of Economic Research and Policies, 17(50), 77- 92 (In Persian). https://qjerp.ir/browse.php?a_id=260&sid=1&slc_lang=fa
Ditta, A., & Hayat, M. A. (2017). Macroeconomic Instability and its Role on Income Inequality in Developing Countries: A Panel Data Analysis. Pakistan Economic and Social Review, 55(2), 613-636. https://www.jstor.org/stable/26616728
Duro, J. A. (2004). Regional Income Inequalities in Europe: An Updated Measurement and Some Decomposition Results. Working Papers from Department of Applied Economics at Universitat Autonoma of Barcelona, 04.11, Retrieved from https://ecap.uab.cat/repec/doc/wpdea0411.pdf
Engle, R. F. (1982). Autoregressive Conditional Heteroscedasticity with Estimates of Variance of United Kingdom Inflation. Economtrica, 50(4), 987-1007. https://doi.org/10.2307/1912773
Fawaz, F., Rahnamamoghadam, M. & Valcarcel, V. (2012). Fluctuations, Uncertainty and Income Inequality in Developing Countries. Eastern Economic Journal, 38, 495–511. https://link.springer.com/article/10.1057/eej.2011.32
Feizi, M., Beiranvand, M., & Malekosadati, S. (2020). Effect of Unemployment, Inflation and Minimum Wage on Income Inequality in Rural Areas of Iranian Provinces. A Quarterly Journal of The Macro and Strategic Policies, 8(Special Issue), 30-45 (In Persian). https://www.jmsp.ir/article_102779.html
Galli, R., & Van der Hoeven, R. (2001). Is inflation bad for income inequality: The importance of the initial rate of inflation. Employment Paper, Retrieved from https://www.ilo.org/publications/inflation-bad-income-inequality-importance-initial-rate-inflation
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Gonzales, R., & Rojas-Hosse, A. (2019). Inflation shocks and income inequality: An analysis with genetic algorithms and Bayesian quantile regression. African Journal of Economic and Management Studies, 10(2), 226-240. https://uia.brage.unit.no/uia-xmlui/bitstream/handle/11250/2600475/AJEMS-10-2018-0299.pdf?isAllowed=y&sequence=1
Grier, K. B., & Perry, M. J. (1998). On inflation and inflation uncertainty in the G7 countries. Journal of International Money and Finance, 17(4), 671-689. https://doi.org/10.1016/S0261-5606(98)00023-0
Hubbard, D. W. (2007). How to Measure Anything: Finding the Value of Intangibles in Business. John Wiley and Sons.
Iheanacho, E. (2017). Empirical Review on the Relationship between Real Wages, Inflation and Labour Productivity in Nigeria: ARDL bounds testing approach. International Issues in Economics and Business, 3(1), 9-29. https://www.macrothink.org/journal/index.php/ieb/article/view/11463/9135
Jeperson, J. (2009). Post-Keynesian economics: uncertainty, effective demand & (un)sustainable development. Paper presented at the AEH-conference, London, 9-12 July 2009, Retrieved from file:///C:/Users/Mohammad%20Abdi/Downloads/Post-Keynesianeconomicsuncertaintyeffectivedemandunsustainabledevelopment.pdf
Kim, D. H., & Lin, S. C. (2023). Income inequality, inflation and financial development. Journal of Empirical Finance, 72, 468- 487. https://doi.org/10.1016/j.jempfin.2023.04.008
Law, C. H. & Soon, S. V. (2020). The impact of inflation on income inequality: the role of institutional quality. Applied Economics Letter, 27(21), 1735-1738. https://doi.org/10.1080/13504851.2020.1717425
Levy, F. (1995). Incomes and income Inequality. State of the Union: America in the 1990s, 1, 1-58. https://www.jstor.org/stable/10.7758/9781610441964.6
Miles, W., Vijverberg, C. P. (2011). Formal targets, central bank independence and inflation dynamics in the UK: A Markov-Switching approach. Journal of Macroeconomics, 33(4), 644-655. https://doi.org/10.1016/j.jmacro.2011.04.003
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics, 16(3), 289-326. https://www.jstor.org/stable/2678547
Piraee, K., & Dadvar, B. (2011). The Effect of Inflation on Economic Growth in Iran with Special Emphasis on Uncertainty. The Economic Research (Sustainable Growth and Development), 11(1), 67-80 (In Persian). https://ecor.modares.ac.ir/article-18-91-fa.html
Pyatt, G., Chen, C. N., & Fei, J. (1980). The Distribution of Income by Factor Components. The Quarterly Journal of Economics, 95(3), 451-473. https://www.jstor.org/stable/1885088
Raghfar, H., Khoshdast, F., & Yazdanpanah, M. (2012). Measurement of Income Inequality in Iran, 1984-2010. Social Welfare Quarterly, 12(45), 275-305 (In Persian). https://refahj.uswr.ac.ir/article-1-1013-fa.html
Sadeghi, H., Basakha, M., & Shaghaghi Shahri, V. (2009). Relation of Economic Growth with Poverty and Inequality in Developing Countries. Social Welfare Quarterly, 8(33), 27-44 (In Persian). https://refahj.uswr.ac.ir/article-1-1856-fa.html
Shahabadi, A., Salmani, Y., & Valinia, A. (2016). The Relationship between Inflation and Inflation Uncertainty with an Retional Expectation in Iran. Monetary & Financial Economics, 23(12), 45-63 (In Persian). https://doi.org/10.22067/pm.v23i12.22017
Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2013). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. Festschrift in Honor of Peter Schmidt, W.C. Horrace and R.C. Sickles, eds., Forthcoming, Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1807745
Thalassinos, E., Ugurlu, E. & Muratoglu, Y. (2012). Income Inequality and Inflation in the EU. European Research Studies, 15(1), 127-140. https://www.ersj.eu/repec/ers/papers/12_1_p7.pdf
Theophilopoulou, A. (2022). The impact of macroeconomic uncertainty on inequality: An empirical study for the United Kingdom. Journal of Money, Credit and Banking, 54(4), 859-884. https://doi.org/10.1111/jmcb.12852
 
Ybrayev, Z. (2022). Distributional Consequences of Monetary Policy in Emerging Economies: Dollarization, Domestic Inflation, and Income Divergence. Comparative Economic Studies, 64, 186-210. https://link.springer.com/article/10.1057/s41294-021-00163-2
www.cbi.ir
Zaroki, S., Abdi Seyyedkolaee, M., & Yousefi Barfurush, A. (2021). Analyzing the Role of Macroeconomic Instability on Income Inequality in Iran. The Economic Research (Sustainable Growth and Development), 21(4), 37-63 (In Persian). https://ecor.modares.ac.ir/article-18-48402-fa.html