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Persistent link: https://www.econbiz.de/10011844245
variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and …
Persistent link: https://www.econbiz.de/10011123847
variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and … investment, and fiscal balances, from an empirical perspective. Based on empirical findings―particularly regarding inflation …
Persistent link: https://www.econbiz.de/10012920786
variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and … investment, and fiscal balances, from an empirical perspective. Based on empirical findings - particularly regarding inflation …
Persistent link: https://www.econbiz.de/10013031167
English Abstract: This paper explores the heterogeneous effects of monetary policy on consumption between workers and retirees. Using household-level data from the U.S., Italy, Japan and Korea, we first show that the consumption of retirees responds less sensitively to monetary policy shocks...
Persistent link: https://www.econbiz.de/10012607046
consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead … inflation expectations and spending today. We find households' inflation expectations and readiness to spend react substantially …
Persistent link: https://www.econbiz.de/10012057290
This paper focuses on the empirically observed relationship between demographic change and inflation and explores the … demographic change and inflation dynamics. We are the first to formally disentangle the two components of demographic change …: population size and structure, and determine how they separately affect inflation. We find that changes in population size are a …
Persistent link: https://www.econbiz.de/10012265487
This paper focuses on the empirically observed relationship between demographic change and inflation and explores the … demographic change and inflation dynamics. We are the first to formally disentangle the two components of demographic change …: population size and structure, and determine how they separately affect inflation. We find that changes in population size are a …
Persistent link: https://www.econbiz.de/10012099076
Many explanations for the decline in real interest rates over the last 30 years point to the role that population aging or rising income inequality plays in increasing the long-run aggregate demand for assets. Notwithstanding the importance of such factors, the starting point of this paper is to...
Persistent link: https://www.econbiz.de/10013482643
This paper assesses the macroeconomic consequences of a prolonged period of low and falling inflation when monetary … would reduce inflation and stimulate output have contractionary effects on economic activity, once the ZLB interacts with …
Persistent link: https://www.econbiz.de/10012999058