We show that unexpected price level movements generate sizable wealth redistribution in the Euro Area (EA), using … middle class HHs are net losers of deflation, while older and richer HHs are winners. As a result, wealth inequality in the … EA increases with unexpected deflation, although in some countries (Austria, Germany and Malta) inequality decreases due …

received a wealth transfer and these accounted for 23 percent of their net worth. Over the lifetime, about 30 percent of … transfers to other sources of household wealth has had a sizeable effect on reducing the inequality of wealth. …

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that …

affects income and wealth inequality. We then illustrate quantitatively how various channels of transmission - net interest …

This paper studies the effect of deep recessions on intergenerational inequality by quantifying the welfare effects on …

policy shock transmission channels. I show that monetary policy transmission takes place through a redistribution channel, as … homogeneous MPC rates. Consumption inequality is countercyclical in this setting and a high degree of leverage amplifies the … redistribution channel. These findings have important implications for understanding the effects of both monetary and macroprudential …