Tag: Inequality

The Dark Side of the Moon. Responding to the COVID-19 Crisis in Developing Economies

| 25 March 2020
Blog, Fiscal | Tags: Covid-19, Development, Inequality, Informality
Besides China and Iran, the impact of the coronavirus has until now been most severe in advanced economies including France, Germany, Italy, South Korea, Spain and the US. This is unlikely to remain so. As the virus continues its spread around the world it will ... continue reading

Fiscal Policy Responses to the Coronavirus Outbreak

| 20 March 2020
Blog, Fiscal | Tags: Covid-19, Inequality, Informality, Tax Expenditures, VAT
The global crisis we are facing is one of the worst in history. The priority, obviously, is to reduce the number of coronavirus victims. At the same time, mitigating the economic impacts is vital. Both the real economy and financial markets worldwide have already been hard ... continue reading

Should Monetary Policy Take Inequality and Climate Change into Account?

| 24 January 2020
Discussion Notes, Monetary | Tags: Climate Change, Governing Finance, Inequality
Should central banks take more account of ethical issues, notably the impact of monetary policy actions on the distribution of income and wealth and on efforts to combat climate change, in the design and implementation of the wider monetary policy toolkit they have been using ... continue reading

Unconventional Monetary Policy and Inequality – Is Japan Unique?

and | 20 September 2019
Monetary, Working Papers | Tags: Inequality, Japan, Quantitative Easing
For over a decade, but especially since the start of Abenomics in 2013, the Bank of Japan (BoJ) has been increasing the monetary base rapidly by implementing an unconventional monetary policy (UMP). In a 2014 study, we found that Japan’s UMP had increased income inequality. ... continue reading

What the Tax Cuts and Jobs Act Means for Tax Expenditures

| 20 June 2019
Blog, Fiscal | Tags: Income Tax, Inequality, Tax Expenditures
In a new paper, my former Tax Policy Center colleague Daniel Berger and I calculate that the 2017 Tax Cuts and Jobs Act (TCJA) modestly reduced the cost of tax expenditures in the individual income tax and made them slightly less regressive. We estimate that ... continue reading