Tipo di tesi
Tesi di laurea magistrale
Titolo
Aggregate consumption responses to inflation with household heterogeneity
Dipartimento
ECONOMIA E MANAGEMENT
Parole chiave
- heterogeneous agents
- inflation
- monetary policy
- redistribution
Data inizio appello
03/10/2016
Riassunto (Italiano)
Since inflation is redistributive, do we see in the data after an inflationary shock reductions in consumption by net nominal “savers” and increases in consumption by net nominal “borrowers”, as standard consumer theory would suggest?
If yes, is the reduction of savers’ consumption prevailing at the aggregate level, since households have on average a positive net nominal position (Pigou hypothesis), or is the increase in consumption by nominal borrowers more important, since they tend to have an higher MPC (Tobin-Fisher hypothesis)?
