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 …

unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and … an upward sloping curve for high inflation rates. The reason is that low inflation rates make saving, as opposed to …, when inflation exceeds a certain threshold, money is too costly to hold, which results in a decrease in output and an …

This paper investigates the international spillovers of government debt and the associated risk of inflation within a … inflation at the cost of the funded country. In response to these conflicting interests about inflation, inflation risk may rise … with the level of debt in the PAYG country. Higher inflation risk harms both countries. Actually, in contrast to the debt …