Quantitative Easing Is Back – But Will It Help the Real Economy?
Josh Ryan-Collins | 15 August 2016
Monetary,
Blog | Tags:
QE
Last week the Bank of England surprised commentators with the scale of its post-Brexit monetary stimulus package. It included a new £70bn round of quantitative easing (QE), the first since 2012, as well as the more widely predicted 0.25% cut to interest rates. The idea
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Central Banking and Inequality – Taking Off the Blinders
Peter Dietsch,
Clément Fontan and
François Claveau | 16 June 2016
Monetary,
Blog | Tags:
Central Banks,
Ethics,
Inequality
Since the financial crisis, the relative importance of monetary policy in the toolbox of macroeconomic policies has increased. In parallel, we have seen a renewed social and political concern with rising inequalities in income and wealth. However, the two trends are rarely connected.[1] Despite studies
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Finance, Growth and Inequality
Boris Cournède and
Oliver Denk | 31 March 2016
Fiscal,
Monetary,
Blog | Tags:
Financial Markets,
Inequality
Finance is the lifeblood of modern economies, but too much of the wrong type of finance can hamper economic prosperity and social cohesion. We have taken a holistic approach to study the consequences of finance for the inclusiveness of growth, in the spirit of the
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Monetary Policy According to HANK
Greg Kaplan,
Benjamin Moll and
Giovanni L. Violante | 10 March 2016
Monetary,
Working Papers | Tags:
Inequality,
Interest Rates
We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to consume because of two key features: multiple assets with different degrees of liquidity
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