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. 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 …
Persistent link: https://www.econbiz.de/10012734374
Numerous studies document a positive correlation between inflation and income inequality. I show that this correlation … period and sample of countries. In the literature on the political economy of inflation, monetary financing and income taxes … are substitutes. Correspondingly, as the correlation between inequality and inflation has become more negative, the …
Persistent link: https://www.econbiz.de/10012900270
Inflation is often assumed to affect all people in the same way. However, differences in spending patterns across … households and differences in price changes across goods and services lead to a different inflation rate for each household. In … this paper, we estimate inflation rates for various population groups in Greece during the period 1999-2004 as well as the …
Persistent link: https://www.econbiz.de/10013404635
We analyse the impact of the marked and unexpected increase in inflation recorded since the second half of 2021 on … inflationary shock. According to our estimates, in 2022 the measures attenuated inflation on average by slightly less than 2 …
Persistent link: https://www.econbiz.de/10014348499
by the liability progression of personal income tax in the pre-inflation period. Second, the impact of fiscal drag on the …
Persistent link: https://www.econbiz.de/10012665381
changes. This paper explores the impact of inflation and uses compensating variations and equivalized incomes to measure … shifts in welfare in a cross-country comparative context. The effects of inflation are closely related to specific price … originally thought. Nevertheless, there are notable differences across countries in the level of inflation, its composition, and …
Persistent link: https://www.econbiz.de/10014431781
We analyse the distributional effects of increased oil excises in Belgium by combining a Computable General Equilibrium (CGE) model with the EUROMOD microsimulation framework that exploits the rich detail of household-level data. The link between the CGE model and the micro level is top-down,...
Persistent link: https://www.econbiz.de/10009772546
We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is not a life-cycle model. A competitive firm produces a...
Persistent link: https://www.econbiz.de/10010515458
We analyse the distributional effects of increased oil excises in Belgium by combining a regional Computable General Equilibrium (CGE) model with a microsimulation framework that exploits the rich detail of household-level data. The results suggest that policymakers face an equity-efficiency...
Persistent link: https://www.econbiz.de/10011534699
A persistent and very high-income inequality is a well known feature of the Brazilian economy. However, from 2001 to 2005 the Gini index presented an unprecedented fall of 4.6 percent combined with significant poverty reduction. Previous studies using partial equilibrium analysis have pointed...
Persistent link: https://www.econbiz.de/10012940543