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  1. The effect of monetary policy on inflation heterogeneity along the income distribution
    Published: [2023]
    Publisher:  European Central Bank, Frankfurt am Main, Germany

    This paper studies the effect of monetary policy on inflation along the income distribution in several euro area countries. It shows that monetary policy has differential effects and identifies two channels which point in opposite directions. On the... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 534
    No inter-library loan

     

    This paper studies the effect of monetary policy on inflation along the income distribution in several euro area countries. It shows that monetary policy has differential effects and identifies two channels which point in opposite directions. On the one hand, different consumption shares imply that inflation by high-income households responds less to monetary policy. On the other hand, the paper provides novel evidence that there are substantial differences in shopping behaviour and its reaction to monetary policy, which imply that inflation by high-income households responds more to monetary policy.

     

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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789289962230
    Other identifier:
    hdl: 10419/297298
    Series: Working paper series / European Central Bank ; no 2858
    Subjects: inflation; distributional effects; monetary policy; shopping behaviour; substitution
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen