Unconventional Monetary Policy and Inequality – Is Japan Unique?
Ayako Saiki and
Jon Frost | 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.
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Green Money Without Inflation
Paul De Grauwe | 7 March 2019
Monetary,
Blog | Tags:
Environment,
European Central Bank,
Inflation,
Quantitative Easing To what extent can the money created by the central bank be used to finance investments in the environment? This is a question that is often asked today. The green activists respond with enthusiasm that the central bank, and in particular the European Central Bank
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Central Banks and the Transition to a Low-Carbon Economy
Pierre Monnin | 22 March 2018
Monetary,
Discussion Notes | Tags:
Central Banks,
Environment,
Macroprudential Regulation,
Quantitative Easing Climate change is a fundamental challenge for our societies. Containing it will require a profound and radical transformation of our economic system, including a substantial reorientation of investments toward low-carbon technologies. The question to what extent central banks can and should contribute to this effort
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Inequality Should Matter for Central Banks
Liviu Voinea and
Pierre Monnin | 16 February 2017
Monetary,
Blog | Tags:
Central Banks,
Inequality,
Quantitative Easing Central bankers have long been discreet about the links between monetary policy and inequality. They justify this reserve by the fact that their mandates do not charge them with addressing inequality and they generally argue that by providing price stability, central banks maintain the existing
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