Replication data for: Monetary Policy and the Redistribution Channel
Principal Investigator(s): View help for Principal Investigator(s) Adrien Auclert
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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CE | 10/20/2021 09:26:AM | ||
PSID | 10/20/2021 09:26:AM | ||
SCF | 10/20/2021 09:27:AM | ||
SHIW | 10/20/2021 09:27:AM | ||
Codes.Rproj | text/plain | 205 bytes | 10/12/2019 01:51:AM |
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 01:51:AM |
duration.xlsx | application/vnd.openxmlformats-officedocument.spreadsheetml.sheet | 9.9 KB | 10/12/2019 01:51:AM |
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Project Citation:
Auclert, Adrien. Replication data for: Monetary Policy and the Redistribution Channel. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113120V1
Project Description
Summary:
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This paper evaluates the role of redistribution in the transmission mechanism of monetary policy to consumption. Three channels affect aggregate spending when winners and losers have different marginal propensities to consume: an earnings heterogeneity channel from unequal income gains, a Fisher channel from unexpected inflation, and an interest rate exposure channel from real interest rate changes. Sufficient statistics from Italian and US data suggest that all three channels are likely to amplify the effects of monetary policy.
Scope of Project
Subject Terms:
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Consumption;
MPC;
Monetary Policy
JEL Classification:
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E21 Macroeconomics: Consumption; Saving; Wealth
E31 Price Level; Inflation; Deflation
E43 Interest Rates: Determination, Term Structure, and Effects
E52 Monetary Policy
E21 Macroeconomics: Consumption; Saving; Wealth
E31 Price Level; Inflation; Deflation
E43 Interest Rates: Determination, Term Structure, and Effects
E52 Monetary Policy
Geographic Coverage:
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United States,
Italy
Time Period(s):
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1/1/1999 – 31/12/2013
Universe:
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PSID 1999-2013 samples SHIW 2010 sample CE 2000-2002 samples
Data Type(s):
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survey data
Methodology
Data Source:
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SHIW from Bank of Italy PSID from Survey Research Center, Institute for Social Research, University of Michigan CE from Bureau of Labor Statistics
Unit(s) of Observation:
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Household,
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