Program: Monetary

Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area

and | 17 September 2015
Monetary, Working 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 ... continue reading

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 ... continue reading

Low Interest Rates: An Opportunity for Renewables

| 8 July 2015
Blog, Monetary | 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 ... continue reading

The Impact of Interest Rates on Electricity Production Costs

| 25 June 2015
Discussion Notes, Monetary | 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 ... continue reading

Monetary Policy and Sustainability. The Case of Bangladesh

and | 31 May 2015
Discussion Notes, Monetary | 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 ... continue reading