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On inflation as a regressive consumption tax
Open accessAbstract
Evidence on the portfolio holdings and transaction patterns of households suggests that the burden of inflation is not evenly distributed. We build a monetary growth model consistent with key features of cross- sectional household data and use this framework to study the distributional impact of inflation. At the aggregate level, our model economy behaves similarly to standard monetary growth models within the representative agent abstraction. Inflation has, however, important distributional effects since it is effectively a regressive consumption tax. Thus, neglecting the distributional consequences of inflation may prove misleading in assessing the effects of inflation in our economy.
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Citations
Cited by
Monetary Policy and the Redistribution Channel
Auclert, A. (2019) · American Economic Review · doi:10.1257/aer.20160137 · Cited by 773
Inflation and the Redistribution of Nominal Wealth
Doepke, M., & Schneider, M. (2006) · Journal of Political Economy · doi:10.1086/508379 · Cited by 583
CENTRAL BANK POLICIES AND INCOME AND WEALTH INEQUALITY: A SURVEY
Colciago, A., Samarina, A., & de Haan, J. (2019) · Journal of Economic Surveys · doi:10.1111/joes.12314 · Cited by 284
Nonlinearity in the financial development–income inequality nexus
Kim, D.-H., & Lin, S.-C. (2011) · Journal of Comparative Economics · doi:10.1016/j.jce.2011.07.002 · Cited by 209
Metadata
- Authors
- Erosa, A., & Ventura, G.
- Venue
- Journal of Monetary Economics
- Publisher
- Elsevier BV
- Published
- 2002-05
- Volume
- 49
- Issue
- 4
- Pages
- 761-795
- ISSN
- 0304-3932 (ISSN-L)
- OpenAlex
- W2087692048
- Cited by
- 394
- References
- 0
- FWCI
- 16.60
- Type
- journal article
- Language
- en
- Open access
- green
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