This paper aims at an improved understanding of the relationship between monetary policy and racial inequality. We … investigate the distributional effects of monetary policy in a unified framework, linking monetary policy shocks both to earnings … monetary policy increases employment of black households more than white households, the overall effects are small. At the same …

Rent seeking leads to a misallocation of resources that worsens economic outcomes and reduces aggregate welfare. We … conduct a quantitative examination of the distributional effects of rent extraction via the financial sector. Rent seeking … lacking in means of self insurance. However, it also creates a wedge that discourages savings, thus reducing self insurance …

treatment group receives information about the shape of the German wealth distribution, while another treatment group receives … for redistribution after learning about the shape of the wealth distribution. In contrast, older participants decrease …

levels compare to that of others in the current period. Our results suggest that present-biased envy affects both the level … of inequality and the income level in an economy. First, present-biased envy generates the Matthew effect (the relatively … rich get richer while the relatively poor get poorer), leading to a highly unequal long-run distribution of wealth. After …

A new line of theoretical and empirical literature emphasizes the pivotal role of fair institutions for growth. We … an unequal distribution of property rights, in which individuals can free-ride or cooperate. Experimentally we observe a … adverse growth effect of the interaction between the degree and the genesis of inequality. We conclude that economies giving …

measures for cumulative and current net nutrition. However, as the ratio of weight to height, BMI is the ratio of current to …

We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a … not a life-cycle model. A competitive firm produces a single good from labor and capital; the rate of return to capital … reduce the tax rate on capital income. The third model introduces differential rates of return to capitals of different sizes …

We study the impact of heterogeneous saving behavior on the distributional effects of public investment. A capital tax … is levied to finance productive public capital in an economy with two types of households: high income households who …

We study the impact of a government spending shock on the distribution of income and wealth between cohorts in a … dynamic stochastic Overlapping Generations model with two types of households, Ricardian households and rule-of … inequality. In contrast to the conventional wisdom that the financing of additional expenditures by debt rather than taxes …

This paper provides a household-level perspective on the rise of global saving and wealth since the 1980s. We calculate … China. In the past four decades, global saving inequality has risen sharply. The share of household saving flows coming from … the richest 10% of household increased by 60% while saving of middle-class households has fallen sharply. The most …