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The inheritance tax is often seen as an effective tool to reduce wealth inequality, to raise public budgets if needed … the OECD. The purpose of this paper is therefore to shed light on the question whether the inheritance tax is a promising … tool for fighting wealth inequality without having distorting effects for the economy. For this purpose, the distributional …
Persistent link: https://www.econbiz.de/10012419216
We measure the heterogeneous welfare effects of the recent inflation surge across households in the Euro Area. A simple framework illustrating the numerous channels of the transmission mechanism of surprise inflation to household welfare guides our empirical exercise. By combining micro data and...
Persistent link: https://www.econbiz.de/10014543620
Monetary policy has implicit redistribution effects for households when households are different. This changes the aggregate consumption response to interest rate changes. This paper is the first to estimate the magnitude of redistributionary channels of monetary policy in the euro area. When...
Persistent link: https://www.econbiz.de/10014563982
Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth between households and the government, between nationals and foreigners, and between households within the same country. Two types of monetary policy,...
Persistent link: https://www.econbiz.de/10003773003
In this paper we construct a stochastic overlapping-generations general equilibrium model in which households are subject to aggregate shocks that affect both wages and asset prices. We use a calibrated version of the model to quantify how the welfare costs of severe recessions are distributed...
Persistent link: https://www.econbiz.de/10013025363
We study the effects on inequality of a “Piketty transition” to zero growth. In a model with a worker …-capitalist dichotomy, we show first that the relationship between inequality (measured as a ratio of incomes for the two types) and growth … is complicated; zero growth can raise or lower inequality, depending on parameters. Extending our model to include …
Persistent link: https://www.econbiz.de/10013043142
We incorporate the division of income between capital and labor into analysis on the relationship between inequality …
Persistent link: https://www.econbiz.de/10013239632
Monetary policy has implicit redistribution effects for households when households are different. This changes the aggregate consumption response to interest rate changes. This paper is the first to estimate the magnitude of redistributionary channels of monetary policy in the euro area. When...
Persistent link: https://www.econbiz.de/10014545241
. Evaluated on the basis of both their cost for the public finances and their impact on inequality, the strengthening of the …
Persistent link: https://www.econbiz.de/10014348499
through a battery of robustness checks. Our findings brings forth land-holding inequality as the key mediating factor for …
Persistent link: https://www.econbiz.de/10014349441