Tag: Income Inequality

Distributional Impact of Unconventional Monetary Policies

| 25 June 2019
Discussion Notes, Monetary | Tags: Income Inequality, Monetary Policy, QE
The sustained application of accommodative monetary policies has led to concerns that they were aggravating inequality. The criticism has come from several quarters, from academics to private sector participants, from politicians to media and civil society organizations. Some argued that by boosting housing and stock ... continue reading

Monetary Policy and the Redistribution Channel

| 28 June 2017
Monetary, Working Papers | Tags: Income Inequality, Inflation, Interest Rates
This paper evaluates the role of redistribution in the transmission mechanism of monetary policy to consumption. Three channels affect aggregate spending when winners and losers have different marginal propensities to consume: an earnings heterogeneity channel from unequal income gains, a Fisher channel from unexpected inflation, ... continue reading