to borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We … increase in savings. Even though inflation-induced redistribution has a persistent negative effect on output, it improves the …Episodes of unanticipated inflation reduce the real value of nominal claims and thus redistribute wealth from lenders …

. 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 …

redistribution brought about by a moderate inflation episode. Redistribution takes the form of 'ends-against-the-middle': the middle … rules. We show that inflation-induced redistribution has a persistent negative effect on output, but improves the weighted …This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal …

inflation such as the U.S. and Canada. For example, in Canada, a systematic review of the current inflation targeting framework … effects of inflation. This omission is likely to be important since the welfare costs of inflation depend not only on … assessing the redistributional effects of inflation in Canada that arise through the revaluation of nominal assets and …

inflation such as the U.S. and Canada. For example, in Canada, a systematic review of the current inflation targeting framework … effects of inflation. This omission is likely to be important since the welfare costs of inflation depend not only on … assessing the redistributional effects of inflation in Canada that arise through the revaluation of nominal assets and …

redistribution brought about by a moderate inflation episode. Redistribution takes the form of "ends-against-the-middle" the middle … rules. We show that inflation-induced redistribution has a persistent negative effect on output, but improves the weighted …This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal …

Inflation is often associated with a loss for the poor in the medium and long run. The cyclical effects are basically … and their productivity. We emphasize three channels through which unanticipated inflation affects the income and wealth … distribution: 1) factor prices, 2) the 'bracket creep', and 3) sticky pensions. In our model, unanticipated inflation decreases the …

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 …

form a monetary union, the country with higher initial inflation will deffnitely experience an increase in its inequalities …. In the country with lower initial inflation, however, inequalities might go in either direction since the inflationary … effect of uniting its monetary policy with a high inflation country can dominate the reducing effect of vanished trade …

This paper presents a political economy model of inflation as a result of social conflict. Agents are heterogeneous in … terms of income. Agents' income levels determine their ability to hedge against the effects of inflation. The interaction of … model makes a number of predictions concerning which environments are conducive to the emergence of inflation. Inflation …