Show simple item record Adão, Bernardino Correia, Isabel 2018-09-27T09:21:59Z 2018-09-27T09:21:59Z 2018-05
dc.description.abstract Typically inequality is not taken into account to assess the effects of policy changes over aggregate variables. We study the decline of expected inflation in a closed economy, and show that the efficiency effect of the decline is larger than what is usually reported even when inequality is considered. Here, the exogenous joint distribution of the households’ characteristics is an important factor behind the magnitude of the change of the aggregates in the economy. In addition, we show that the decline of inflation improves equality of welfare across households for any calibration that is consistent with the actual joint distribution of the households’ characteristics in a developed economy.
dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries ADEMU Working Paper Series;121
dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.
dc.title Changes in the inflation regime
dc.type info:eu-repo/semantics/workingPaper
dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
dc.rights.accessRights info:eu-repo/semantics/openAccess


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