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The EGIs: Analyzing the Economy Through an Equitable Growth Lens

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Abstract

Inflation remains elevated, labor markets are close to the strongest they have been, real consumption is up year-over year, but all of these observations are with respect to averages. Behind these macroeconomic trends can be widely varying experiences across different demographic and socioeconomic groups that make up our society. To provide researchers, practitioners, and the public with timely, regularly updated and comprehensive answers to these questions, we launched the Equitable Growth Indicators (EGIs)—a new tool to help foster the evolving discussion about economic inequality and equitable growth. To illustrate the utility of the EGIs, we provide examples of some striking differences in trends captured in the May release of the EGIs on inflation, real earnings, and real spending. More heterogeneity analysis and data are available at nyfed.org/egi.

Suggested Citation

  • Rajashri Chakrabarti & Dan Garcia & Maxim L. Pinkovskiy, 2023. "The EGIs: Analyzing the Economy Through an Equitable Growth Lens," Liberty Street Economics 20230706a, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:96411
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    File URL: https://libertystreeteconomics.newyorkfed.org/2023/07/the-egis-analyzing-the-economy-through-an-equitable-growth-lens/
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    More about this item

    Keywords

    inequality; equitable growth; inflation; earnings; employment; spending;
    All these keywords.

    JEL classification:

    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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