Archive: June 2017

Monetary Policy and the Redistribution Channel

 | 28 June 2017
Monetary, Working Papers | Tags: Income Inequality, Inflation, Interest Rates
This paper evaluates the role of redistribution in the transmission mechanism of monetary policy to consumption. Three channels affect aggregate spending when winners and losers have different marginal propensities to consume: an earnings heterogeneity channel from unequal income gains, a Fisher channel from unexpected inflation, ... continue reading

Foreign Trade Barriers and Jobs in Global Supply Chains

 and | 27 June 2017
Trade, Working Papers | Tags: Employment, Services Trade
This paper studies the impact of foreign barriers to goods and services trade on domestic jobs that are directly or indirectly related to affected trade flows. ... continue reading