IDEAS home Printed from https://ideas.repec.org/p/zbw/vfsc22/264053.html
   My bibliography  Save this paper

Should Central Banks Consider Household Inflation Heterogeneity?

Author

Listed:
  • Stempel, Daniel
  • Neyer, Ulrike

Abstract

No abstract is available for this item.

Suggested Citation

  • Stempel, Daniel & Neyer, Ulrike, 2022. "Should Central Banks Consider Household Inflation Heterogeneity?," VfS Annual Conference 2022 (Basel): Big Data in Economics 264053, Verein für Socialpolitik / German Economic Association.
  • Handle: RePEc:zbw:vfsc22:264053
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/264053/1/vfs-2022-pid-69809.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mary Loxton & Robert Truskett & Brigitte Scarf & Laura Sindone & George Baldry & Yinong Zhao, 2020. "Consumer Behaviour during Crises: Preliminary Research on How Coronavirus Has Manifested Consumer Panic Buying, Herd Mentality, Changing Discretionary Spending and the Role of the Media in Influencing," JRFM, MDPI, vol. 13(8), pages 1-21, July.
    2. Wagner A. Kamakura & Rex Yuxing Du, 2012. "How Economic Contractions and Expansions Affect Expenditure Patterns," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(2), pages 229-247.
    3. Matthew Canzoneri & Robert Cumby & Behzad Diba & Olena Mykhaylova, 2006. "New Keynesian Explanations of Cyclical Movements in Aggregate Inflation and Regional Inflation Differentials," Open Economies Review, Springer, vol. 17(1), pages 27-55, January.
    4. Albanesi, Stefania, 2007. "Inflation and inequality," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1088-1114, May.
    5. Gürer Eren & Weichenrieder Alfons, 2020. "Pro-rich inflation in Europe: Implications for the measurement of inequality," German Economic Review, De Gruyter, vol. 21(1), pages 107-138, April.
    6. Rupert, Peter & Rogerson, Richard & Wright, Randall, 2000. "Homework in labor economics: Household production and intertemporal substitution," Journal of Monetary Economics, Elsevier, vol. 46(3), pages 557-579, December.
    7. Raj Chetty & Adam Guren & Day Manoli & Andrea Weber, 2013. "Does Indivisible Labor Explain the Difference between Micro and Macro Elasticities? A Meta-Analysis of Extensive Margin Elasticities," NBER Macroeconomics Annual, University of Chicago Press, vol. 27(1), pages 1-56.
    8. Greg Kaplan & Giovanni L. Violante, 2018. "Microeconomic Heterogeneity and Macroeconomic Shocks," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 167-194, Summer.
    9. Havranek, Tomas & Horvath, Roman & Irsova, Zuzana & Rusnak, Marek, 2015. "Cross-country heterogeneity in intertemporal substitution," Journal of International Economics, Elsevier, vol. 96(1), pages 100-118.
    10. Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2018. "Monetary Policy According to HANK," American Economic Review, American Economic Association, vol. 108(3), pages 697-743, March.
    11. Gnocchi, Stefano & Hauser, Daniela & Pappa, Evi, 2016. "Housework and fiscal expansions," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 94-108.
    12. Hall, Robert E, 1988. "Intertemporal Substitution in Consumption," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 339-357, April.
    13. Pau Rabanal, 2009. "Inflation Differentials between Spain and the EMU: A DSGE Perspective," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(6), pages 1141-1166, September.
    14. David Argente & Munseob Lee, 2021. "Cost of Living Inequality During the Great Recession," Journal of the European Economic Association, European Economic Association, vol. 19(2), pages 913-952.
    15. Duarte, Margarida & Wolman, Alexander L., 2008. "Fiscal policy and regional inflation in a currency union," Journal of International Economics, Elsevier, vol. 74(2), pages 384-401, March.
    16. Rafael Portillo & Luis-Felipe Zanna & Stephen O’Connell & Richard Peck, 2016. "Implications of food subsistence for monetary policy and inflation," Oxford Economic Papers, Oxford University Press, vol. 68(3), pages 782-810.
    17. Atkeson, Andrew & Ogaki, Masao, 1996. "Wealth-varying intertemporal elasticities of substitution: Evidence from panel and aggregate data," Journal of Monetary Economics, Elsevier, vol. 38(3), pages 507-534, December.
    18. Nils M. Gornemann & Keith Kuester & Makoto Nakajima, 2016. "Doves for the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy," International Finance Discussion Papers 1167, Board of Governors of the Federal Reserve System (U.S.).
    19. Ralph Luetticke, 2021. "Transmission of Monetary Policy with Heterogeneity in Household Portfolios," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(2), pages 1-25, April.
    20. Kaplan, Greg & Schulhofer-Wohl, Sam, 2017. "Inflation at the household level," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 19-38.
    21. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
    22. Angeloni Ignazio & Ehrmann Michael, 2007. "Euro Area Inflation Differentials," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-36, August.
    23. Al-Marhubi, Fahim, 1997. "A note on the link between income inequality and inflation," Economics Letters, Elsevier, vol. 55(3), pages 317-319, September.
    24. Andrés, Javier & Ortega, Eva & Vallés, Javier, 2008. "Competition and inflation differentials in EMU," Journal of Economic Dynamics and Control, Elsevier, vol. 32(3), pages 848-874, March.
    25. Xavier Jaravel, 2019. "The Unequal Gains from Product Innovations: Evidence from the U.S. Retail Sector," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 134(2), pages 715-783.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Neyer, Ulrike & Stempel, Daniel, 2022. "How should central banks react to household inflation heterogeneity?," DICE Discussion Papers 378, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    2. Neyer, Ulrike & Stempel, Daniel, 2021. "Gender discrimination, inflation, and the business cycle," Journal of Macroeconomics, Elsevier, vol. 70(C).
    3. Stempel, Daniel & Neyer, Ulrike, 2019. "The Effects of Gender Discrimination in DSGE Models," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203556, Verein für Socialpolitik / German Economic Association.
    4. Neyer, Ulrike & Stempel, Daniel, 2019. "Macroeconomic effects of gender discrimination," DICE Discussion Papers 324, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    5. Daniel Stempel & Johannes Zahner, 2022. "DSGE Models and Machine Learning: An Application to Monetary Policy in the Euro Area," MAGKS Papers on Economics 202232, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    6. Brede, Maren, 2016. "Budget-neutral fiscal rules targeting inflation differentials," VfS Annual Conference 2016 (Augsburg): Demographic Change 145513, Verein für Socialpolitik / German Economic Association.
    7. Patrizio Tirelli & Maria Ferrara, 2020. "Disinflation, Inequality, And Welfare In A Tank Model," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1297-1313, July.
    8. Miguel Ampudia & Michael Ehrmann & Georg Strasser, 2023. "The effect of monetary policy on inflation heterogeneity along the income distribution," BIS Working Papers 1124, Bank for International Settlements.
    9. Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2020. "Household balance sheet channels of monetary policy: A back of the envelope calculation for the euro area," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    10. Ha,Jongrim & Ivanova,Anna & Ohnsorge,Franziska Lieselotte & Unsal Portillo Ocando,Derya Filiz, 2019. "Inflation : Concepts, Evolution, and Correlates," Policy Research Working Paper Series 8738, The World Bank.
    11. Adrien Auclert, 2019. "Monetary Policy and the Redistribution Channel," American Economic Review, American Economic Association, vol. 109(6), pages 2333-2367, June.
    12. Nikolay Hristov & Oliver Hülsewig & Timo Wollmershäuser, 2014. "Financial Frictions and Inflation Differentials in a Monetary Union," Manchester School, University of Manchester, vol. 82(5), pages 549-595, September.
    13. Albertini, Julien & Auray, Stéphane & Bouakez, Hafedh & Eyquem, Aurélien, 2021. "Taking off into the wind: Unemployment risk and state-Dependent government spending multipliers," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 990-1007.
    14. Filippo Altissimo & Pierpaolo Benigno & Diego Palenzuela, 2011. "Inflation Differentials in a Currency Area: Facts, Explanations and Policy," Open Economies Review, Springer, vol. 22(2), pages 189-233, April.
    15. Andrea Colciago & Anna Samarina & Jakob de Haan, 2019. "Central Bank Policies And Income And Wealth Inequality: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 33(4), pages 1199-1231, September.
    16. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    17. Henrique S. Basso & Omar Rachedi, 2021. "The Young, the Old, and the Government: Demographics and Fiscal Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(4), pages 110-141, October.
    18. Nalban, Valeriu, 2018. "Sectoral intermediate goods and redistributive effects of economic policies," Journal of Macroeconomics, Elsevier, vol. 58(C), pages 292-307.
    19. Areosa, Waldyr Dutra & Areosa, Marta B.M., 2016. "The inequality channel of monetary transmission," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 214-230.
    20. Cravino, Javier & Lan, Ting & Levchenko, Andrei A., 2020. "Price stickiness along the income distribution and the effects of monetary policy," Journal of Monetary Economics, Elsevier, vol. 110(C), pages 19-32.

    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:vfsc22:264053. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/vfsocea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.