Hi there this is a Quantitative research Communication class. So the presentation has been completed but it requires 10 Literature reviews. There are 8 of them that have been completed. They will be on slides 4,5 and 6. the 6th slides needs 2 more lit. review. you will have an idea how to do it based on the previous reviews that have been done. I will also attach the assignment instructions. please make sure to find articles that relate to the slides and are official.
Household
Income and
Inflation
COMS3001A Group Presentation
Research Question
To what extent do demographic characteristics shape individuals’ views on inflation and its impact on the cost of living?
Hypothesis
Age and household income are significant variables when it comes to determining individuals’ perspectives on inflation and the cost of living.
Accordingly, we hypothesize that individuals with higher incomes and older age (55+) will be more inclined to perceive the current inflation rate as low.
LITERATURE REVIEW
Source
The Purchasing Power of American households. U.S.
Department of the Treasury. (2023, December 3).
https://home.treasury.gov/news/featuredstories/the-purchasing-power-of-americanhouseholds
Jayashankar, A., & Murphy, A. (2023, January 10). High
inflation disproportionately hurts low-income
households. Federal Reserve Bank of Dallas.
https://www.dallasfed.org/research/economics/2023
/0110
Patri, A. (2023, January 3). The Well?being cost
of inflation inequalities – prati. Wiley online
library.
https://onlinelibrary.wiley.com/doi/full/10.1111/r
oiw.12631
David Jacobs, Dilhan Perera and Thomas Williams.
(2014). Inflation and the cost of living.
https://www.rba.gov.au/publications/bulletin/2014/m
ar/pdf/bu-0314-4.pdf
Variable
Reason For Choosing The Source
Inflation & Household income
This article highlights that inflation has decreased by six
percentage points from its peak in 2022. It quotes, “This means
helping to reduce the cost of goods and services, and even more
importantly, increasing household incomes. When incomes rise
at a faster pace than prices, households can afford more and
have greater purchasing power.”
Household income
This article discusses how different household compositions,
income levels, housing tenure, and other factors can result in
people experiencing varying inflation rates and levels of inflation
stress. Quote: ” Lower-income households are also more likely
to rent, for example. We also present logit model estimates (a
way to consider the probability of an event given the
relationships of explanatory variables).”
Household & Age
This article presents a study investigating the correlation
between price changes and self-reported satisfaction with living
standards. The study assumes that consumers face
homogeneous inflation rates. Quote:” We estimate that their
effect is more significant than a similar change in nominal
income.Quote: ” We estimate their marginal impact to be higher
than equivalent variations in nominal income.”
Inflation
Examines how household income might affect perceived
inflation
Quote: “Although cost-of-living inflation has been moderate
across most households, there are a number of reasons why
Source
Minarik, joseph. (1979, December). Wiley Online
Library | Scientific Research Articles, journals, …
Wiley online library .
https://onlinelibrary.wiley.com/doi/abs/10.1111/j.
1475-4991.1998.tb00269.x
Monnin, P. (2014, June 4). Inflation and income
inequality in developed economies. SSRN.
https://papers.ssrn.com/sol3/papers.cfm?abstract_i
d=2444710
Mcleod, S. (2022, March 9). A look at inflation’s impact
by income and age in the U.S. A Look at Inflation’s
Impact by Income and Age in the U.S.
https://economics.td.com/us-inflation-income-age
Munnell, A. H., Horvath, D., Horvath, A. H. M., &
Blanton, K. (2022, September 27). How much does
inflation vary by income? It depends on how it’s
measured. Center for Retirement Research.
https://crr.bc.edu/how-much-does-inflation-vary-byincome-depends-on-how-its-measured/
Variable
Inflation & Household Income
Inflation
Reason For Choosing The Source
This article studies how inflation affects households
of different income groups. A quote from the article
argues that “while the rich may gain from inflation, a
broader perspective would reverse this effect. The
author suggests that a policy to counteract inflation’s
distributional impact would benefit households in the
upper-income bracket.”
This article delves into the various methods used to
measure inflation across different income groups.
Quotes: ” low-income households spend all their
after-income-tax money virtually on inflationaffected items, while high-income households spend
only 80 percent of their resources on these items.”
Household & Age
This article outlines spending patterns across
different income and age groups. Quote: Younger
generations are more likely to rent (83% of those
under 25), making them more vulnerable to the
recent surge in rental prices compared to older
generations, primarily homeowners (only 20% of
those over 65 are renters).
Household income
The following article analyzes inflation rates for the 12
months culminating in June 2022, based on household
income. The findings are presented clearly and concisely for
the benefit of our esteemed audience. And Quotes that
“low-income households spend virtually all of their income
on affected items, exposing a larger share of their
resources to price increases compared to high-income
Source
Variable
Reason For Choosing The
Source
UNIVARIATE ANALYSIS
INDEPENDENT VARIABLE
1.
Figure 1. Pie chart using the values found in table 1
Concerns for Inflation
Frequency
Valid percent
Very Concerned
931
61.9
Somewhat Concerned
454
30.2
Not Very Concerned
103
6.8
Not Concerned At All
16
1.1
Total
1504
100.0
N: 1504
Measure of Central Tendency: Median – 1.00
Source: Democracy
Bivariate Analysis I : Concern for Inflation and Age
Age
Very
Concerned
Somewhat
Concerned
Not Very
Concerned
Not
concerned
at all
Total
N= 1504
18-24
103 (11.1%)
45 (9.9%)
11 (10.7%)
5 (31.3%)
164 (10.9%)
Chi-Square Value: 35.674
25-34
152 (16.3%)
68 (15%)
16 (15.5%)
4 (25%)
240 (16%)
Chi-Square: p=0.002 (Statistically
Significant)
35-44
161 (17.3%)
73 (16.1%)
16 (15.5%)
4 (25%)
254 (16.9)
45-54
203 (21.8%)
78 (17.2%)
21 (20.4%)
1 (6.3%)
303 (20.1%)
55-64
167 (17.9%)
72 (15.9%)
16 (15.5%)
2 (12.5%)
257 (17.1%)
>65
145 (15.6%)
118 (26%)
23 (22.3%)
0 (0.0%)
286 (19%)
Total
931 (100%)
454 (100%)
103 (100%)
16 (100%)
1504(100%)
Gamma: 0.050 (Moderate strength)
Source: Democracy Dataset
Bivariate Analysis II : Concern for Inflation and Household Income
Inflation concerns
Household Income
N = 1504
Chi-square value: 43.633
Very
concerned
Somewhat
Concerned
Not very
Concerned
Not at all
Concerned
Total
82 (69.5%)
25 (21.2%)
9 (7.6%)
2 (1.7%)
118 (100.0%)
201 (69.6%)
66 (22.8%)
20 (6.9%)
2 (0.7%)
Under $20,000
$20,000 to $50,000
289 (100.0%)
Chi square: p = 0.002
$50,000 to $75,000
Gamma: 0.147
151 (64.0%)
68 (28.8%)
15 (6.4%)
2 (0.8%)
236 (100.0%)
153 (67.1%)
60 (26.3%)
12 (5.3%)
3 (1.3%)
228 (100.0%)
162 (54.7%)
115 (38.9%)
18 (6.1%)
1 (0.3%)
296 (100.0%)
97 (51.1%)
71 (37.4%)
20 (10.5%)
2 (1.1%)
190 (100.0%)
85 (57.8%)
49 (33.3%)
9 (6.1%)
4 (2.7%)
147 (100.0%)
$75,000 to $100,000
Source: Democracy
Dataset
$100,000 to $150,000
$150,000 or Over
Prefer not to say
Control:
(Male)
Very
Concerned
Somewhat
Concerned
Not Very
Concerned
Not concerned
at all
Total
18-24
40 (9.2%.)
19 (8.1%.)
6 (8.3%.)
3 (25%)
68 (9.0%.)
25-34
70 (16.1%)
30 (12.8%.)
13 (18.1%)
3 (25%)
118 (15.5%.)
35-44
8 (18.4%.)
42 (17.9%.)
11 (15.3%.)
4 (33.3%.)
137 (18.2%.)
45-54
91, (21%)
41 (17.5%.)
13 (18.1%.)
1 (8.3%.)
146 (19.4%.)
55-64
83 (19.1%.)
35 (15%)
12 (16.7%.)
1 (8.3%.)
131 (17.4%.)
>65
70 (16.1%.)
67 (28.6%.)
17 (23.6%.)
0 (0%)
154 (20.5%.)
Total
434 (100%)
234 (100%)
72 (100%)
12 (100%)
752 (100%)
Control table 1: Male
Variables: Concern for Inflation &
Age
Control Variable: Gender
Gamma: .178
Chi-Square: 26.064 (p= 0.037)
N: 752
(Female)
Very Concerned
Somewhat
Concerned
Not Very
Concerned
Not concerned
at all
Total
18-24
61 (12.3%.
26 (12%)
5 (16.7%.)
2 (50%)
94 (12.6%.)
25-34
81 (16.4%.
35 (16.2%.)
3 (10%)
1 (25%)
120 (16.1%.)
35-44
81 (16.4%.
30 (13.9%)
5 (16.7%.)
0 (0%)
116 (15.6%.)
45-54
112 (22.7%.
37 (17.1%)
7 (23.3%.)
0 (0%)
156 (21%.)
55-64
84 (17%
37 (17.1%.)
4 (13.3%.)
1 (25%)
126 (16.9%.)
>65
75 (15.2%.
51 (23.6%.)
6 (20%.)
0 (0%)
132 (17.7%.)
Total
494 (100%
216 (100%)
30 (100%.)
4 (100%)
744 (100%.)
(Other)
Very Concerned
Somewhat
Concerned
Not Very
Concerned
Not concerned
at all
Total
18-24
2 (66.7%.)
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
2 (66.7%.)
25-34
1 (33.3%.)
3 (75%.)
0 (0.0%.)
0 (0.0%.)
4 (50.0%.)
35-44
0 (0.0%.)
1 (33.3%.)
0 (0.0%.)
0 (0.0%.)
1 (12.5%.)
45-54
0 (0.0%.)
0 (0.0%.)
1 (33.3%.)
0 (0.0%.)
1 (12.5%.)
55-64
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
>65
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
0 (0.0%.)
Total
3 (75%.)
4 (100%.)
1 (100%.)
0 (100%.)
8 (100%.)
Control: Continued…
table 2: Female
Control: Control
Variables: Concern for Inflation &
Age
Control Variable: Gender
Gamma: .241
Chi-Square: 17.393 (p= 0.296)
N: 744
Control table 3: Other
Variables: Concern for Inflation &
Age
Control Variable: Gender
Gamma:
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