Journal of Monetary Economics最新文献_第7页

People’s understanding of inflation 人们对通货膨胀的理解

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103652

Alberto Binetti , Francesco Nuzzi , Stefanie Stantcheva

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Comments on Alberto Binetti, Francesco Nuzzi, and Stefanie Stantcheva “people's understanding of inflation” 对 Alberto Binetti、Francesco Nuzzi 和 Stefanie Stantcheva "人们对通货膨胀的理解 "的评论

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103674

Robert J. Shiller

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Comments on “Lessons from history for successful disinflation” by Christina D. Romer and David H. Romer 对 Christina D. Romer 和 David H. Romer 所著 "从历史中汲取成功解除通货紧缩的经验教训 "的评论罗默和 David H. Romer

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103646

Donald Kohn

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Inflation: What we have learned and what we need to know 通货膨胀：我们学到了什么和我们需要知道什么

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103656

Jan Hatzius

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Discussion of “Understanding the international rise and fall of inflation since 2020” 讨论 "了解 2020 年以来国际通胀的涨跌"

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103685

Susanto Basu

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The long and variable lags of monetary policy: Evidence from disaggregated price indices 货币政策的长滞后和可变滞后：来自分类价格指数的证据

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103635

S. Borağan Aruoba, Thomas Drechsel

引用次数: 0

Tariff wars, unemployment, and top incomes 关税战、失业和最高收入

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103616

引用次数: 0

Tiers of joy? Reserve tiering and bank behavior in a negative-rate environment 层级之乐？负利率环境下的储备分级和银行行为

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103614

引用次数: 0

How to fund unemployment insurance with informality and false claims: Evidence from Senegal 如何资助非正规和虚假索赔的失业保险：来自塞内加尔的证据

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103699

Abdoulaye Ndiaye , Kyle Herkenhoff , Abdoulaye Cissé , Alessandro Dell’Acqua , Ahmadou A. Mbaye

{"title":"How to fund unemployment insurance with informality and false claims: Evidence from Senegal","authors":"Abdoulaye Ndiaye , Kyle Herkenhoff , Abdoulaye Cissé , Alessandro Dell’Acqua , Ahmadou A. Mbaye","doi":"10.1016/j.jmoneco.2024.103699","DOIUrl":"10.1016/j.jmoneco.2024.103699","url":null,"abstract":"<div><div>This paper studies the welfare effects from the provision of unemployment insurance (UI) benefits in a context where formal workers represent only a small proportion of the labor market and informal workers can submit fraudulent claims for UI benefits. We model these features and allow for varying degrees of enforcement and different funding sources. We then estimate the model’s key parameters by conducting a custom labor force survey in Senegal. Our findings show that the liquidity gains are large and the moral hazard response to the UI benefits among workers is relatively small: an extra dollar of UI benefits yields a consumption-equivalent gain of 60–90 cents, which exceeds comparable estimates from U.S. calibrations by a factor of three to sixteen. We then show that the welfare gains depend on the program design: UI funded through payroll taxes delivers the greatest welfare gains but becomes infeasible when there are few formal workers and high rates of fraudulent claims. On the other hand, UI funded through consumption taxes delivers lower welfare gains but remains feasible with high informality and false claims.</div></div>","PeriodicalId":48407,"journal":{"name":"Journal of Monetary Economics","volume":"150 ","pages":"Article 103699"},"PeriodicalIF":4.3,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143372970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Who bears the costs of inflation? Euro area households and the 2021–2023 shock 谁来承担通货膨胀的成本？欧元区家庭与 2021-2023 年冲击

IF 4.3 2区经济学

Journal of Monetary Economics Pub Date : 2024-11-01 DOI: 10.1016/j.jmoneco.2024.103671

Filippo Pallotti , Gonzalo Paz-Pardo , Jiri Slacalek , Oreste Tristani , Giovanni L. Violante

{"title":"Who bears the costs of inflation? Euro area households and the 2021–2023 shock","authors":"Filippo Pallotti , Gonzalo Paz-Pardo , Jiri Slacalek , Oreste Tristani , Giovanni L. Violante","doi":"10.1016/j.jmoneco.2024.103671","DOIUrl":"10.1016/j.jmoneco.2024.103671","url":null,"abstract":"<div><div>We measure the heterogeneous first-order welfare effects of the recent inflation surge across households in the euro area. A simple framework illustrating the numerous transmission channels of surprise inflation to household welfare guides our empirical exercise. By combining micro data and aggregate time series, we conclude that: (i) country-level average welfare costs – expressed as a share of triennial income – were sizable and heterogeneous: around 3% in France and Spain, 7% in Germany, and 9% in Italy; (ii) this inflation episode resembles an age-dependent tax, with the retirees losing up to 14%, and roughly half of the 25–44 year-old winning; (iii) losses were quite uniform across consumption quantiles because rigid rents served as a hedge for the poor; (iv) nominal net positions were the key driver of heterogeneity across-households; (v) the rise in energy prices generated vast variation in individual-level inflation rates, but unconventional fiscal policies helped shield households. The counterpart of this household-sector loss is a significant gain for the government.</div></div>","PeriodicalId":48407,"journal":{"name":"Journal of Monetary Economics","volume":"148 ","pages":"Article 103671"},"PeriodicalIF":4.3,"publicationDate":"2024-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142177709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0