Inflation as a Redistribution Shock: Effects on Aggregates and Welfare
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Episodes of unanticipated inflation reduce the real value of nominal claims and thus redistribute wealth from lenders to borrowers. In this study, we consider redistribution as a channel for aggregate and welfare effects of inflation. We model an inflation episode as an unanticipated shock to the
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美国国家经济研究局创建时间：
2006-06-01
