Central Banking and Inequality – Taking Off the Blinders
Peter Dietsch,
Clément Fontan and
François Claveau | 16 June 2016
Blog,
Monetary | Tags:
Central Banks,
Ethics,
Inequality Since the financial crisis, the relative importance of monetary policy in the toolbox of macroeconomic policies has increased. In parallel, we have seen a renewed social and political concern with rising inequalities in income and wealth. However, the two trends are rarely connected.[1] Despite studies
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Energy Subsidies – Widespread, Significant, and Largely Not Reaching the Poor
Fernando Navajas | 18 April 2016
Blog,
Fiscal | Tags:
Energy,
Inequality,
Subsidies Energy subsidies are widespread and significant. In 2014, according to the IEA (2015), government support for global fossil fuel consumption amounted to 490 billion US$. An IMF working paper (Coady et al., 2015) reports even higher numbers. Distinguishing between subsidies before (pre) and after (post)
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Finance, Growth and Inequality
Boris Cournède and
Oliver Denk | 31 March 2016
Blog,
Fiscal,
Monetary | 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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