部门再分配的通胀影响
Francesco Ferrante1, Sebastian Graves1, Matteo Iacoviello1
1Federal Reserve Board, United States.
概括
随着COVID-19大流行,消费从服务转向商品,从而增加了通货膨胀. 重新分配成本和灵活的商品价格加剧了这些压力,需求转移解释了美国通胀激增的大部分原因.
科学领域:
- 经济学 经济学 经济学
- 宏观经济学 宏观经济学
- 计量经济学 计量经济学
背景情况:
- 由于COVID-19大流行,消费者支出从服务转向商品发生了重大转变.
- 这种重新分配创造了独特的经济挑战和通胀压力.
研究的目的:
- 用多部门经济模型分析需求重新分配对通货膨胀的影响.
- 量化重新分配成本和价格灵活性在推动通胀方面的作用.
主要方法:
- 开发了一个多部门模型,包括粘性价格,输入-输出联系和劳动力重新分配成本.
- 通过对需求重新分配,部门生产率和劳动力供应冲击的数据进行模型估计.
主要成果:
- 再分配成本阻碍了商品的供应反应,导致通货膨胀.
- 与服务价格相比,商品价格的更大的灵活性加剧了通胀压力.
- 美国流行后通胀激增的很大一部分归因于需求再分配冲击.
结论:
- 疫情期间的需求转变是美国通货膨胀的主要驱动因素.
- 经济模型需要考虑重新分配成本和价格动态,以了解通货膨胀.
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