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Distributional Impacts of Inflation Accounting for Behavioral Effects and Real Assets Kardelen Cicek, Julieth Pico Mejía, Marcos Poplawski-Ribeiro, Alberto Tumino WP/26/22 IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. 2026 FEB © 2026 International Monetary Fund WP/2 ...