Meh, Césaire A.; Terajima, Yaz - In: Canadian Journal of Economics 44 (2011) 4, pp. 1369-1402
This paper quantifies the redistributional effects of inflation in Canada that arise through the revaluation of nominal assets and liabilities. We find that the effects are non-trivial even for low inflation episodes. The main winners are young, middle-class households with mortgage debt. The...