| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5961 |
| DP5961 Inflation Implications of Rising Government Debt | |
| Andrew Scott; Chryssi Giannitsarou | |
| 发表日期 | 2006-11-26 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | 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 wealth distribution in a quantitative overlapping-generations model of the U.S. economy. While the redistribution shock is zero sum, households react asymmetrically, mostly because borrowers are younger on average than lenders. As a result, inflation generates a decrease in labour supply as well as an increase in savings. Even though inflation-induced redistribution has a persistent negative effect on output, it improves the weighted welfare of domestic households. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Aggregate effects inflation Redistribution Welfare |
| URL | https://cepr.org/publications/dp5961 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534799 |
| 推荐引用方式 GB/T 7714 | Andrew Scott,Chryssi Giannitsarou. DP5961 Inflation Implications of Rising Government Debt. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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