2022
DOI: 10.1057/s41308-022-00175-7
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The Expected, Perceived, and Realized Inflation of US Households Before and During the COVID19 Pandemic

Abstract: Any opinions expressed in this paper are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but IZA takes no institutional policy positions. The IZA research network is committed to the IZA Guiding Principles of Research Integrity. The IZA Institute of Labor Economics is an independent economic research institute that conducts research in labor economics and offers evidence-based policy advice on labor market issues. Supported by the Deutsche Post Founda… Show more

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Cited by 21 publications
(15 citation statements)
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“…The differences in the inflation bias between the income groups is at most 0.1 percentage points, indicating that high-income consumers suffered similar inflation. These results are in contrast with the ones for the US of Cavallo (2020) and Weber et al (2023) , who find that inflation was significantly higher for low-income households in the first months after the beginning of the pandemic. One possible rationalization is that income inequality is lower in the UK and Germany compared to the US, so consumption baskets are more similar across income levels (for the US ( Weber et al, 2023 ) perform a decomposition analysis and conclude that the difference in inflation levels across households is largely explained by the difference in the consumption baskets rather than prices paid.)…”
Section: Inflation Biascontrasting
confidence: 97%
See 3 more Smart Citations
“…The differences in the inflation bias between the income groups is at most 0.1 percentage points, indicating that high-income consumers suffered similar inflation. These results are in contrast with the ones for the US of Cavallo (2020) and Weber et al (2023) , who find that inflation was significantly higher for low-income households in the first months after the beginning of the pandemic. One possible rationalization is that income inequality is lower in the UK and Germany compared to the US, so consumption baskets are more similar across income levels (for the US ( Weber et al, 2023 ) perform a decomposition analysis and conclude that the difference in inflation levels across households is largely explained by the difference in the consumption baskets rather than prices paid.)…”
Section: Inflation Biascontrasting
confidence: 97%
“…These results are in contrast with the ones for the US of Cavallo (2020) and Weber et al (2023) , who find that inflation was significantly higher for low-income households in the first months after the beginning of the pandemic. One possible rationalization is that income inequality is lower in the UK and Germany compared to the US, so consumption baskets are more similar across income levels (for the US ( Weber et al, 2023 ) perform a decomposition analysis and conclude that the difference in inflation levels across households is largely explained by the difference in the consumption baskets rather than prices paid.) Another explanation may be related to the higher urgency that low-income consumers have to shift their consumption to lower inflation CPI categories.…”
Section: Inflation Biascontrasting
confidence: 97%
See 2 more Smart Citations
“…The price data suggests that there has been a general increase in demand for gelling agents, potentially driven by the growing demand for processed foods and changing global economies. However, in current economic conditions of price inflation and economic stagnation (Ha et al 2022 ; Ozili and Arun 2023 ; Weber et al 2023 ) places pressure on both consumers and food manufacturers to seek value-for-money inputs and reduce production costs (Campbell and Hotchkiss 2017 ). Moreover, despite carrageenan's extensive historical usage in the food industry and its compliance with strengthened regulations, it has become the subject of increased regulatory and consumer scrutiny due to concerns regarding its safety (Thomas 1997 ; Bixler 2017 ; EFSA et al 2018 ).…”
Section: The Indonesia-china Nexus Of the Global Seaweed-to-carrageen...mentioning
confidence: 99%