consumption, income and wealth. We account for the various channels through which inflation affects individual households, and for … the monetary and fiscal policy responses to the inflationary shock. Our results indicate that the effects of inflation … differences in individual consumption patterns. On average, the effect of inflation is regressive, with lower income households …

One hallmark of U.S. monetary policy since the early 1980s has been moderation in inflation (at least, until recently …). How has this affected household well-being? The paper first develops a new model to address this issue. The inflation tax … long as inflation is positive). The inflation gain on household wealth is the revaluation resulting from asset price …

When the price of electricity increases by 1%, households' average expected inflation increases by 1.0 to 1.3 basis … especially in the cross section, from newly-available public data on expected inflation by Euro area households across region … prices on expected inflation increases for 8 to 12 months, but they can only account for a small share of the rise in …

other reaction coefficients, on inflation and output, are sub-optimal. However, an indirect exchange rate response, through … a policy reaction to Consumer Price Index (CPI) inflation rather than to domestic inflation, is welfare enhancing. This … result is independent of whether society values domestic or CPI inflation stabilization. …

The pass-through from exchange rate changes to inflation differs depending on the underlying shock. This paper …