Coibion, Olivier; Gorodnichenko, Yuriy; Küng, Lorenz; … - 2016 - This draft: February 17th, 2016
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the … United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total … historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we …