inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three …

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 …

policies on output is much stronger than the effect on inflation. In addition, our results provide evidence that unconventional …