通货膨胀与中国城镇居民收入不平等研究——基于17个省份收入分组数据

Research on Inflation and Income Inequality of Urban Residents in China Based on Grouping Income Data of 17 Provinces in China

为了检验通货膨胀对我国不同收入水平城镇居民影响的结构效应,基于中国1995—2012年17个省份城镇居民收入分组数据,构建了均衡模型论证通货膨胀对不同收入水平居民总收入和分项收入的影响机理,采用动态GMM方法检验了通货膨胀对不同收入水平城镇居民收入份额影响,进而分析其对城镇居民收入不平等的影响。结果表明:除最高收入水平城镇居民外,通货膨胀降低了其他各收入水平组的当期收入份额,从而加剧了城镇居民收入不平等;中低收入组城镇居民工资性收入份额对通货膨胀没有调整应对能力;通货膨胀却极大地提升了低收入组、中等收入组和中等偏上收入组的经营净收入份额,降低了高收入组和最高收入组的经营净收入份额,从而缓解了城镇居民经营净收入的差距;高收入组城镇居民的财产性收入从通货膨胀中受益最多;通货膨胀有利于转移性收入"正向分配"效应的实现。

In order to test the structural effect of inflation on China＇s urban residents at different income levels, based on thegrouping data of income of urban residents in 17 provinces in China during the years from 1995 to 2012, an equilibrium model isconstructed to explain the mechanism of the impact of inflation on the total income and sub-item income of residents at differentincome levels. The impact of inflation on the income share of urban residents at different income levels is examined by using thedynamic Generalized Method of Moments （GMM）. Further, its impact on urban residents＇ income inequality is analyzed. The re-suits show that, except the urban residents with the highest income, inflation lowers the spot income share of all other groups atdifferent income levels, which will in turn exacerbate the income inequality of urban residents ; the salary income part of the groupof urban residents at middle and low income levels has no capability to adjust to inflation. However, inflation greatly improves thenet operating income share of the groups of urban residents at low income level, middle income level and above average incomelevel, and it lowers the net operating income share of groups at high income level as well as the highest income group, which nar-rows the net operating income gap of urban residents. The urban residents in the group at high income level benefit the most fromthe inflation in their property income. Inflation helps to realize the effect of positive distribution of transfer income.