We are pleased to invite you to the jubilee 40th Brown Bag Seminar, which will be held on Thursday, March 10, 2022, at the Faculty of Economics & Business in Zagreb in Hall 51, starting at 2 p.m. The Brown Bag Seminar cycle will be continued by Ms. Marina Tkalec (Institute of Economics Zagreb), who will present an emerging paper entitled "Inflation Inequalities in Croatia", co-authored with Mr. Ivica Rubil (IEZG) and Mr. Ivan Žilić (IEZG).
About the presenter:
Ms. Marina Tkalec, Ph.D., is a senior scientific advisor employed at the Institute of Economics in Zagreb and an external associate of the Department of Economic Theory at the Faculty of Economics & Business in Zagreb.
On behalf of the organizers,
Velibor Mačkić, Ph.D.
Associate Professor
Department of Economic Theory
Faculty of Economics & Business, University of Zagreb
Trg J. F. Kennedyja 6, 10000 Zagreb, Croatia
Summary of the presentation:
Analyzing household-level data from the 2017 Household Budget Survey, the authors calculate inflation for five different types of households: 10 percent of the poorest households, 10 percent of the richest households, only retired households, single households - single-member households, and families with two parents and two children up to 19 years of age. The survey was conducted for the period from 2001 to 2021, with 2001 taken as the base year. The basic idea of the research is to take into account the distributive effects of inflation because each household enters the calculation with its consumption structure, regardless of the total consumption which is limited by the amount of income.
The results of the survey, as a rule, show that poorer citizens had higher inflation rates than the reference ones for a longer period because they spend most of their expenditures on goods and services that had above-average price increases. In particular, in the observed period, 10 percent of the poorest households had 10.8 percentage points higher inflation than the 10 percent of the richest.
The implications of the presented analysis are multilayered. First, calculated inflation rates of different types of households can be used to index and deflate different categories of income or benefits. But secondly, more conceptually, it turned out that aggregate indicators, in this case monetary, have their distribution and heterogeneity, and how, at the time of expanding databases, we may need to consider indicators that will better represent the experiences of citizens.
About the presenter:
Ms. Marina Tkalec, Ph.D., is a senior scientific advisor employed at the Institute of Economics in Zagreb and an external associate of the Department of Economic Theory at the Faculty of Economics & Business in Zagreb.
Description of the Brown Bag Seminar concept:
The Brown Bag Seminar (BBS) is an informal one-hour workshop with aim of presenting research in different stages of development (ideas, rounded theoretical framework, conducted empirical research, etc.), promoting discussion and creating a stimulating environment focused on the constructive discussion between presenters and the rest of participants of the seminar. The basic idea of the BBS is to create a platform on which, at least once a month, FEBZG employees will have the opportunity to present the ideas and articles they are working on as part of their research work. We invite you to respond and help with your constructive comments to the presenters, and to present the topics you are currently working on, unpublished papers, or present research ideas that you are thinking about.
The idea is that presentations (in English or Croatian - depending on the presenter's preference) last for 30-40 minutes, and is followed by a discussion.
The idea is that presentations (in English or Croatian - depending on the presenter's preference) last for 30-40 minutes, and is followed by a discussion.
On behalf of the organizers,
Velibor Mačkić, Ph.D.
Associate Professor
Department of Economic Theory
Faculty of Economics & Business, University of Zagreb
Trg J. F. Kennedyja 6, 10000 Zagreb, Croatia