framework illustrating the numerous channels of the transmission mechanism of surprise inflation to household welfare guides our …

States of Europe. We simulate an optimal EU-wide income tax and calculate the implied cross-country transfers. The comparison … of the implied transfers with the real transfers shows how insufficient the actual transfers are to reduce income …-) groups of member states, we illustrate the winners and losers from an optimal EU-wide income redistribution across the Union …

efficiency with a relevant amount of tax revenues and social expenditures. They obviously obtain very high redistribution, above … 15 points. Most of the countries considered show an intermediate level of redistribution (between 7 and 12 points), but … countries show a very low level of redistribution, below 7 points. Interestingly, they vary in the level of tax burden and of …

revised from the standard model - the redistribution channel with household heterogeneity makes up 14 percent of the total …Monetary policy has implicit redistribution effects for households when households are different. This changes the … obtain a representative euro area dataset with detailed information on household balance sheets and consumption. I use a …

representative household microdata from 11 Eurozone countries to simulate these policy reforms and to study their effects on the …

cars. Moreover, we show that such beliefs also influence household expectations about own income prospects, future access … Ricardian effects in household behaviour. We find that perceptions affect spending also among households that did not receive …

Closely following the seminal contribution of Jappelli and Pistaferri (2014) - based on Italian household survey data … across countries, household-characteristics, and major items of the households' balance sheets such as cash-on-hand, liquid …