| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10319 |
| DP10319 Business Cycle Fluctuations and the Distribution of Consumption | |
| Luca Gambetti; Giacomo DE GIORGI | |
| 发表日期 | 2014-12-21 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper sheds new light on the interactions between business cycles and the consumption distribution. We use CEX consumption data and a factor model to characterize the cyclical dynamics of the consumption distribution. We first establish that our approach is able to closely match business cycle fluctuations of consumption from the National Account. We then study the responses of the consumption distribution to TFP shocks and economic policy uncertainty shocks. Importantly, we find that the responses of the right tail of the consumption distribution, mostly comprising higher educated individuals, to shocks that drive cyclical fluctuations are larger and quicker than in other parts of the distribution. We note that the cost of business cycle fluctuations is larger than the one found using aggregate consumption, and that the shocks we analyze reduce consumption inequality on impact. |
| 主题 | International Macroeconomics |
| 关键词 | Consumption Inequality |
| URL | https://cepr.org/publications/dp10319 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539151 |
| 推荐引用方式 GB/T 7714 | Luca Gambetti,Giacomo DE GIORGI. DP10319 Business Cycle Fluctuations and the Distribution of Consumption. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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