Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Klaus Adam and
Junyi Zhu | 17 September 2015
Monetary,
Research Papers | Tags:
Inequality,
Inflation
We document the presence of sizable nominal wealth redistribution effects from unexpected price level movements in the Euro Area (EA), using sectoral accounts and newly available data from the Household Finance and Consumption Survey. The EA as a whole is a net loser of unexpected
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Monetary Policy and the Distribution of Income and Wealth
September 11-12, 2015
Monetary,
Workshops | Tags:
Inequality,
Inflation,
QE
There has been intense focus recently on inequality in income and wealth across and within countries. Both developed and developing countries have experienced a marked increase in the gap between high and low income households, as well as an increase in the concentration of income
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Low Interest Rates: An Opportunity for Renewables
Pierre Monnin | 8 July 2015
Monetary,
Blog | Tags:
Energy,
Interest Rates
Putting the economy on an environmentally sustainable path requires a serious shift into green technologies. Such a shift includes substantial investments in technologies that are based on renewable energy to produce electricity – referred to hereinafter as “green energy technologies”. Interest rates directly and significantly
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The Impact of Interest Rates on Electricity Production Costs
Pierre Monnin | 25 June 2015
Monetary,
Discussion Notes | Tags:
Energy,
Interest Rates
Putting the economy on an environmentally sustainable path requires substantial investments in green energy technologies. Long-term interest rates play a crucial role for energy investments. Against this background, we study the impact of interest rates on the costs of producing electricity with different technologies, using
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Monetary Policy and Sustainability. The Case of Bangladesh
Alexander Barkawi and
Pierre Monnin | 31 May 2015
Monetary,
Discussion Notes | Tags:
Employment,
Energy,
Financial Inclusion
Central banks have wide ranging effects on the economy and society as a whole. Their decisions on monetary policy and sustainability are closely intertwined. Nonetheless, the links between the mandates, objectives and instruments of central banks and a broad sustainability agenda are rarely reflected in
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Central Banks, Financial Stability and Inequality
Pierre Monnin | 9 March 2015
Monetary,
Blog | Tags:
Central Banks,
Financial Stability,
Inequality
When you ask a central banker what her job is, she will most probably answer: “keeping inflation under control!” Indeed, securing price stability constitutes the current raison d’être of most, if not all, central banks around the world. In parallel to this objective, however, many
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Should the ECB Helicopter Adjust Its Dropping Zone?
Pierre Monnin | 4 February 2015
Monetary,
Blog | Tags:
Inequality,
QE
“Let us suppose that one day a helicopter flies over this community and drops an additional $1000 in bills from the sky…” This pleasant image conveyed by Milton Friedman’s famous metaphor is taken to new heights by Mario Draghi, who promised to inject €60 billion
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Monetary Policy and Inequality – What Do Central Bankers Say?
Pierre Monnin | 24 November 2014
Monetary,
Blog | Tags:
Central Banks,
Inequality
“Benign neglect” perhaps most aptly characterizes the attitude that central bankers have traditionally displayed toward the topic of economic inequality. Indeed, monetary policy and inequality have long been regarded as having nothing more in common than just the fact that they both coexist. In the
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Does Unconventional Monetary Policy Affect Inequality? Evidence from Japan
Ayako Saiki and
Jon Frost | 17 October 2014
Monetary,
Research Papers | Tags:
Inequality,
QE
Inequality has been largely ignored in the literature and practice of monetary policy, but is gaining more attention recently. Here, we exclusively focus on the impact of unconventional monetary policy (UMP) on inequality. We look at how the recent UMP in Japan affected inequality, using
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Monetary Policy and Sustainability
16-20 June, 2014
Conferences,
Monetary | Tags:
Inequality,
QE,
Resource Security
Monetary policy has wide ranging effects on the economy and society as a whole. The actions taken by central banks with regard to interest rate levels, inflation targets, and exchange rates are key factors in investment decisions and play a significant role in the distribution
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