Adam, Klaus; Zhu, Junyi - 2015
and Malta being net winners. Governments are net losers of deflation, while the household (HH) sector is a net winner in … middle class HHs are net losers of deflation, while older and richer HHs are winners. As a result, wealth inequality in the … EA increases with unexpected deflation, although in some countries (Austria, Germany and Malta) inequality decreases due …