Output, prices, and the distribution of consumption in rural India
利用参数化分布模型和GMM估计，分析印度农村农业产出、通胀与消费分布的关系，发现增长并非分配中性，消费平滑不完全，且不同时期增长对不平等的影响不同。
Abstract This article analyzes the relation among agricultural output, inflation, and the distribution of consumption in rural India, using both the Singh–Maddala and Dagum families to model the entire distribution parametrically. Employing a benchmark case in which growth is distributionally neutral and idiosyncratic shocks are completely smoothed, and using a GMM‐estimator to deal with potential simultaneity between output and consumption, we conclude that: (i) growth was not distributionally neutral; (ii) good harvests (relative to trend) yielded improvements according to first‐order stochastic dominance; (iii) slow growth before 1980 went with decreasing inequality; (iv) accelerated growth thereafter tended to increase inequality, though yielding improvements according to first‐order stochastic dominance; (v) consumption smoothing was incomplete.