Chen, Siyan; Desiderio, Saul - In: Economics: The Open-Access, Open-Assessment E-Journal 12 (2018) 2018-62, pp. 1-32
Empirical studies have pointed out that monetary policy may significantly affect income and wealth inequality. To investigate the distributive properties of monetary policy the authors resort to an agent-based macroeconomic model where firms, households and one bank interact on the basis of...