Aggregate implications of wealth redistribution: The case of inflation
成果类型：
Article; Proceedings Paper
署名作者：
Doepke, Matthias; Schneider, Martin
署名单位：
University of California System; University of California Los Angeles; New York University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/jeea.2006.4.2-3.493
发表日期：
2006
页码：
493-502
关键词：
摘要：
This paper shows that a zero-sum redistribution of wealth within a country can have persistent aggregate effects. Motivated by the case of an unanticipated inflation episode, we consider redistribution shocks that shift resources from old to young households. Aggregate effects arise because there are asymmetries in the reaction of winners and losers to changes in wealth. We focus on two sources of asymmetries: Differences in the average age of winners and losers, and differences in their labor force status.
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