, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …, while HHs in Finland and Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH … sector: relatively young middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result …

The inflation measure used by the European Central Bank excludes housing costs that are borne by home owners even … repayments. The user cost measure is combined with the HICP to derive a “broad” inflation estimate. For the sake of comparison … costs have an impact. Another important conclusion is that the effect of owner-occupied housing costs on inflation varies …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is …

Inflation indices – such as the national Consumer Price Indices (CPI) and the EU Harmonised Indices of Consumer Prices … (HICP) – measure price changes for the overall economy, which may not reflect the inflation experience of an individual … household or group of households. This paper contributes to previous studies of the distributive impact of recent high inflation …

. Motivated by the case of an unanticipated inflation episode, we consider redistribution shocks that shift resources from old to …This paper shows that a zero-sum redistribution of wealth within a country can have persistent aggregate effects …

to borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We … increase in savings. Even though inflation-induced redistribution has a persistent negative effect on output, it improves the …Episodes of unanticipated inflation reduce the real value of nominal claims and thus redistribute wealth from lenders …

redistribution brought about by a moderate inflation episode. Redistribution takes the form of 'ends-against-the-middle': the middle … rules. We show that inflation-induced redistribution has a persistent negative effect on output, but improves the weighted …This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal …