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Innocent bystanders? Monetary policy and inequality in the US

Coibion, Olivier; Gorodnichenko, Yuriy; Kueng, Lorenz; … - 2012

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 …

Persistent link: https://www.econbiz.de/10010287628

Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies

Prasad, Eswar - 2013

Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...

Persistent link: https://www.econbiz.de/10010328965

Monetary policy and inequality under labor market frictions and capital-skill complementarity

Dolado, Juan J.; Motyovszki, Gergö; Pappa, Euē - 2018

Persistent link: https://www.econbiz.de/10011885449

Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score

Angrist, Joshua D.; Kuersteiner, Guido M. - 2008

Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...

Persistent link: https://www.econbiz.de/10010270625

Sequential bargaining in a new-Keynesian model with frictional unemployment and staggered wage negotiation

de Walque, Gregory; Pierrard, Olivier; Sneessens, Henri R. - 2009

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers' bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more...

Persistent link: https://www.econbiz.de/10010277123