, 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 …

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 …

by governments concerned with the costs of inflation and unemployment, as well as with redistribution to particular …, or of central bank conservativeness are associated with lower unemployment and inflation. However the forward shifting of …

. 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 …

between lack of government commitment and high inflation, which characterizes representative agent models of optimal fiscal …

, however, zero. With sticky prices, Ricardian equivalence always fails. A Robin-Hood, revenue-neutral redistribution to …