Program: Monetary

Monetary Policy and Inequality – What Do Central Bankers Say?

| 24 November 2014
Blog, Monetary | Tags: Central Banks, Inequality, Monetary Policy
“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 ... continue reading

Does Unconventional Monetary Policy Affect Inequality? Evidence from Japan

and | 17 October 2014
Monetary, Working 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 ... continue reading

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 ... continue reading

Does Inflation Really Hurt the Poor More than the Rich?

| 26 May 2014
Blog, Monetary | Tags: Inequality, Inflation
After being neglected for decades, income and wealth inequality are back at the center of economic discussions. Recent work by the IMF, renowned economists like Joseph Stiglitz (e.g. in his book “The Price of Inequality”), as well as the lively debate generated by Thomas Piketty’s ... continue reading

Inflation and Income Inequality in Developed Economies

| 15 May 2014
Monetary, Working Papers | Tags: Inequality, Inflation
This paper explores the empirical link between income inequality and inflation in ten OECD countries over the period 1971 to 2010. In addition to inflation, we include six control variables ... continue reading