Doepke, Matthias; Schneider, Martin - Institut für Schweizerisches Bankwesen <Zürich> - 2007
borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We model an ….S. economy. While the redistribution shockis zero sum, households react asymmetrically, mostly because borrowers are younger on … though inflation-induced redistribution has a persistent negative effect on output, it improves the weighted welfare of …
