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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The Distributional Implications of the Crisis and Policy Responses
William White | 8 December 2015
Monetary,
Blog | Tags:
Inequality,
QE
The conduct of monetary policy over the last few years is totally unprecedented. Efforts have been made to influence all parts of the term structure of interest rates and credit spreads as well. Policy rates have been reduced essentially to zero. Forward guidance has also
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Looking for a Way out the Subsidies Labyrinth in Argentina
Lucio Castro | 16 October 2015
Fiscal,
Monetary,
Blog | Tags:
Energy,
Inflation,
Subsidies
In the midst of a heated electoral campaign, subsidies are at the centre of the political debate in Argentina. Shock or gradual approaches to reform those transfers have emerged as the buzzwords of the moment as the presidential race heats up.
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