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dc.contributor.authorHobijn, Barten_US
dc.contributor.authorLagakos, Daviden_US
dc.date.accessioned2012-08-17T14:28:57Z-
dc.date.available2012-08-17T14:28:57Z-
dc.date.issued2003en_US
dc.identifier.urihttp://hdl.handle.net/10419/60692-
dc.description.abstractInflation is often assumed to affect all people in the same way. In practice, differences in spending patterns across households and differences in price increases across goods and services lead to unequal levels of inflation for different households. In this paper, we measure the degree of inequality in inflation across U.S. households for the period 1987-2001. Our results suggest that the inflation experiences of U.S. households vary significantly. Most of the differences can be traced to changes in the relative prices of education, health care, and gasoline. We find that cost of living increases are generally higher for the elderly, in large part because of their health care expenditures, and that the cost of living for poor households is most sensitive to (the historically large) fluctuations in gasoline prices. To our surprise, we also find that those households that experience high inflation in one year do not generally face high inflation in the next year. That is, we do not find much household-specific persistence in inflation disparities.en_US
dc.language.isoengen_US
dc.publisherFederal Reserve Bank of New York New York, NYen_US
dc.relation.ispartofseriesStaff Report, Federal Reserve Bank of New York 173en_US
dc.subject.jelC43en_US
dc.subject.jelD12en_US
dc.subject.jelD39en_US
dc.subject.ddc330en_US
dc.subject.keywordconsumption price inflationen_US
dc.subject.keywordinequalityen_US
dc.subject.keywordhousehold inflation ratesen_US
dc.subject.stwInflationen_US
dc.subject.stwPrivater Haushalten_US
dc.subject.stwInflationsrateen_US
dc.subject.stwUSAen_US
dc.titleInflation inequality in the United Statesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn378797859en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Staff Reports, Federal Reserve Bank of New York

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