Sacrifice ratios and the income distribution: Stylized facts for OECD countries

Publicado en

  • Economics Letters


  • This paper examines the distributional consequences of disinflation by estimating sacrifice ratios (percentage output losses relative to the change in inflation) for different income quintiles and the top 1% of the income distribution. We find that at the tails of the distribution the average percentage output losses are considerably higher than at the center: 1.7 times greater at the left tail, 2.7 times greater at the top 1%.

fecha de publicación

  • 2023

Líneas de investigación

  • Central banks
  • Disinflation
  • Income distribution
  • Inflation
  • Monetary policy
  • Sacrifice ratios


  • 232