The Effects of Inflation on the Distribution of Economic Welfare PDF Download
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Author: William D. Nordhaus
Publisher:
ISBN:
Category : Income distribution
Languages : en
Pages : 504
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Book Description
Author: William D. Nordhaus
Publisher:
ISBN:
Category : Income distribution
Languages : en
Pages : 504
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Book Description
Author: William D. Nordhaus
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 142
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Book Description
Author: Peter Gottschalk
Publisher: Cambridge University Press
ISBN: 9780521562621
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
This 1997 book examines the income distributional experience of fifteen developed economies - representing a wide range of social and economic strategies - over the past two decades. Experts from each of the countries have carefully documented the pattern of distributional change in individual earnings and household income in their countries and analysed the driving forces behind these changes. Separate chapters are devoted to the experiences of Australia, Canada, the Czech Republic, Finland, France, West and former East Germany, Greece, Hungary, Ireland, Israel, Japan, the Netherlands, Sweden, the United Kingdom and the United States. The authors examine the effects on the inequality of household income of the development of individual earnings, unemployment, inflation, public sector transfers and taxes, and demographic changes.
Author: Matthias Doepke
Publisher:
ISBN:
Category : Income distribution
Languages : en
Pages : 64
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Book Description
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 labor 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.
Author: Andrés Erosa
Publisher: London : Department of Economics, University of Western Ontario
ISBN: 9780771422300
Category : Inflation (Finance)
Languages : en
Pages : 39
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Book Description
Author: Peter J. N. Sinclair
Publisher: Routledge
ISBN: 1135179778
Category : Business & Economics
Languages : en
Pages : 402
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Book Description
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Author: Paola Boel
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
The welfare cost of anticipated inflation is quantified in a calibrated model of the U.S. economy that exhibits tractable equilibrium dispersion in wealth and earnings. Inflation does not generate large losses in societal welfare, yet its impact varies noticeably across segments of society depending also on the financial sophistication of the economy. If money is the only asset, then inflation hurts mostly the wealthier and more productive agents, while those poorer and less productive may even benefit from inflation. The converse holds in a more sophisticated financial environment where agents can insure against consumption risk with assets other than money.
Author: Harvey Leibenstein
Publisher: Taylor & Francis
ISBN: 1000648745
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
First published in 1980, Inflation, Income Distribution and X-Efficiency Theory presents an exploratory theoretical study of the linkages between income distribution, the degree of X-efficiency, and inflation and the level of employment in the context of developing society. It discusses themes like concept of income distribution; maximization versus non-maximization models; theory of inert areas; microtheory and inflation; monopoly and X-Efficiency theory; contracts, bargaining and inflation; theory of bargaining; survival strategies in the face of inflation; and policy implications of inflation. This book is a must read for students and scholars of macroeconomics and economics in general.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451956029
Category : Business & Economics
Languages : en
Pages : 229
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Book Description
This paper discusses effects of inflation on economic development. A mild inflation may well encourage little, or no, evasion of the “inflation tax.” On the other hand, a strong inflation, and frequently a mild one also, will lead to community reactions which have effects like those of widespread tax evasion. A development policy may have wider aims than the encouragement of a high level of investment. Inflation has two effects on the desire for liquidity, which are related to the two basic reasons why individuals and businesses wish to hold liquid assets—the speculative and precautionary motives. Inflation increases the value of effective liquidity, thereby raising the community's desire for it, but it makes the most generally accepted store of liquidity unacceptable sources of protection. The control of inflation is only one of the problems facing a government wishing to encourage rapid economic development. The fight against illiteracy, the reform of bureaucratic practices, the building of basic sanitary facilities for the eradication of endemic diseases, the substitution of competitive for monopolistic trade practices, the encouragement of a widespread spirit of entrepreneurship, and the creation of an adequate amount of social capital, may be important prerequisites for rapid growth.
Author: Matthias Doepke
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
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Book Description
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 labor 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.
