I construct a novel measure of household uncertainty based on survey data for European countries. I show that household … uncertainty shocks are not universally like negative demand shocks. Notably, household uncertainty shocks are largely inflationary … role in the transmission of household uncertainty to inflation. I develop an Overlapping Generations New Keynesian model …

average household’s weekly retail consumption by 1%. Further, the estimated effect is 2-4 times larger for low-income urban … households than for other population groups. We explore explanations for these findings and show that unlike an average household …

, growth in total household consumption and income is comparable to that of the U.S. However, unlike the U.S., Indian …