Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Isabel Schnabel 🇪🇺🇺🇦 Profile picture
@Isabel_Schnabel
May 20, 2021 • 9 tweets • 4 min read • Read on X
Scrolly
Today we @ecb issued our new digital publication and interactive tool on inflation. It is one of our attempts to better explain the concept & measurement of inflation, its heterogeneity across goods and countries as well as the difference between perceived & actual inflation. 1/8
Chapter 1 explains the concept of inflation and why it matters. You can look at the inflation rate in a particular country for a particular category of goods and services, which gives an impression of the heterogeneity across countries and goods. 2/8
It also show the evolution over time for different countries, distinguishing the overall price index and certain subcategories, which show very different degrees of volatility: food, energy, non-energy industrial goods and services. 3/8
Chapter 2 is on inflation measurement. It explains how the basket of goods underlying the inflation index is compiled and shows the weights of different consumption categories. It also mentions the open issue of how to consider the costs of houses owned by consumers. 4/8
Chapter 3 deals with the distinction between measured inflation, personal actual inflation and personal perceived inflation. It explains the differences and shows how inflation perceptions differ across demographic groups: household income, education, gender and age. 5/8
It also shows that inflation perceptions tend to be substantially higher than measured inflation, that the gap has diminished somewhat over time and that the variation across households is very large. 6/8
Chapter 4 finally contains a personal inflation calculator, developed by @Lietuvosbankas, which allows euro area citizens to calculate their personal inflation rate and compare it with their own perception and with the measured rate for their country. Try it out! 7/8
The new tool was also briefly presented yesterday in the German TV programme #Plusminus @DasErste (in German). 8/8 ardmediathek.de/video/konsum-s…
P.S.: @fwred just reminded me - the publication is available in 23 languages!

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Isabel Schnabel 🇪🇺🇺🇦

Isabel Schnabel 🇪🇺🇺🇦 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Isabel_Schnabel

Isabel Schnabel 🇪🇺🇺🇦 Profile picture
Feb 16
Last week, I had the honour to hold the #EugenBöhmVonBawerkLecture of the Austrian Academy of Sciences. I argued that the narrative that Europe is in decline is misleading and that Europe should unlock the full potential of the Single Market by introducing a #28thRegime. 1/20 Image
Europe stands out globally for its quality of life. Happiness and life satisfaction in Europe consistently rank among the highest in the world. 2/20 Image
A child born in Spain or Italy can expect to live more than five years longer than a child born in the United States, despite the latter spending a far larger share of GDP on healthcare. 3/20 Image
Read 20 tweets
Isabel Schnabel 🇪🇺🇺🇦 Profile picture
Oct 3, 2024
The euro area economy is stagnating. But some countries are growing much faster than others. What explains this heterogeneity and how can we escape stagnation? This was the topic of my #WalterEuckenLecture @EuckenInstitut. 1/25
Weak growth reflects the exceptional shocks that hit the euro area economy in recent years as well as the tightening of monetary policy. Yet, although the peak impact of monetary tightening is likely to be behind us and real incomes are rising, growth remains shallow. 2/25
Aggregate growth figures mask, however, significant heterogeneity across euro area economies. Since interest rates started to rise, growth has become increasingly uneven. In Malta, Spain and Portugal, for example, output has expanded measurably. 3/25 Image
Read 25 tweets
Isabel Schnabel 🇪🇺🇺🇦 Profile picture
May 29, 2024
In my speech at the BOJ-IMES conference, I reviewed the benefits & costs of asset purchases based on a large body of research. Central banks have used asset purchases for two main purposes: to stabilise financial markets and to ease financing conditions near the lower bound. 1/19
According to the signalling channel, asset purchases signal a commitment to a period of low interest rates, made credible by central banks’ exposures to duration risk. But this has not stopped central banks from raising rates when inflation surged, weakening this channel. 2/19 Image
By contrast, the liquidity channel was powerful in times of stress. In a dash for cash, it is actual purchases that matter. On other occasions, it has been enough to credibly announce the intention to intervene if necessary, even if purchases were zero or small. #OMT #PEPP 3/19 Image
Read 20 tweets
Isabel Schnabel 🇪🇺🇺🇦 Profile picture
Feb 16, 2024
As @paulkrugman once noted, “productivity isn't everything, but, in the long run, it is almost everything.” Yet, the euro area’s productivity trajectory has been dismal. In today’s speech @EUI_EU, I asked how euro area firms could be turned from laggards into leaders. 1/20
At the turn of the millennium, the euro area was operating at the global productivity frontier. But in the following years, it fell behind other economies like the United States and has not been able to recover from this loss of competitiveness. 2/20 Image
One root cause is firms’ failure to reap the efficiency gains from information and communication technologies. Over the past decades, a gap in the IT-related capital stock has emerged between the euro area and the United States, also leading to a gap in productivity growth. 3/20 Image
Read 21 tweets
Isabel Schnabel 🇪🇺🇺🇦 Profile picture
Jan 8, 2024
Today we released our new experimental statistics on #DistributionalWealthAccounts (DWA). These data combine macroeconomic national accounts data from the Quarterly Sector Accounts with granular information from our #HouseholdFinanceAndConsumptionSurvey (HFCS). 1/6
We thereby benefit from the respective advantages of the two data sources: the timely and comprehensive coverage of aggregate wealth in national accounts, and rich distributional information in the HFCS. Linking micro & macro data is a promising step for closing data gaps. 2/6
As confirmed in our 2021 monetary policy strategy, we analyse the interaction between income & wealth distributions and monetary policy as part of the policy process. Distributional effects matter for monetary policy transmission and are part of our proportionality analysis. 3/6
Read 6 tweets
Isabel Schnabel 🇪🇺🇺🇦 Profile picture
Dec 30, 2023
Looking back at 2023, my most interesting (and experimental) communication experience was an interview with @SZ without words. #SagenSieJetztNichts #InterviewWithoutWords 1/14
sz-magazin.sueddeutsche.de/sagen-sie-jetz…
First question: What is inflation? 2/14 Image
What does it look like when you want to convince Christine @Lagarde? 3/14 Image
Read 14 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(