, this redistribution improves aggregate welfare. First, this paper shows that inflation acts not only a regressive …This paper undertakes a quantitative investigation of the effects of anticipated inflation on the distribution of … household wealth and welfare. Consumer Finance Data on household financial wealth suggests that about a third of the US …

persistent earning losses, we find that the welfare gains from the insurance against job displacement afforded by severance pay …

the absence of persistent earning losses, we find that the welfare gains from the insurance against job displacement …