Tag: QE

The Distributional Implications of the Crisis and Policy Responses

| 8 December 2015
Blog, Monetary | Tags: Inequality, QE
The conduct of monetary policy over the last few years is totally unprecedented. Efforts have been made to influence all parts of the term structure of interest rates and credit spreads as well. Policy rates have been reduced essentially to zero. Forward guidance has also ... 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

Should the ECB Helicopter Adjust Its Dropping Zone?

| 4 February 2015
Blog, Monetary | Tags: Inequality, QE
“Let us suppose that one day a helicopter flies over this community and drops an additional $1000 in bills from the sky…” This pleasant image conveyed by Milton Friedman’s famous metaphor is taken to new heights by Mario Draghi, who promised to inject €60 billion ... 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