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
  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
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readme.pdf application/pdf 157.2 KB 10/12/2019 01:51:AM

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:  View help for Summary 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:  View help for Subject Terms Consumption; MPC; Monetary Policy
JEL Classification:  View help for JEL Classification
      E21 Macroeconomics: Consumption; Saving; Wealth
      E31 Price Level; Inflation; Deflation
      E43 Interest Rates: Determination, Term Structure, and Effects
      E52 Monetary Policy
Geographic Coverage:  View help for Geographic Coverage United States, Italy
Time Period(s):  View help for Time Period(s) 1/1/1999 – 31/12/2013
Universe:  View help for Universe PSID 1999-2013 samples SHIW 2010 sample CE 2000-2002 samples
Data Type(s):  View help for Data Type(s) survey data

Methodology

Data Source:  View help for Data Source 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:  View help for Unit(s) of Observation Household,

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V1 [2019-10-12]

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