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The Effects of Monetary Policy Shocks on Inequality
Furceri, Davide - 2017
This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary...
Persistent link: https://www.econbiz.de/10012962145
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The Aggregate and Distributional Effects of Financial Globalization : Evidence from Macro and Sectoral Data
Furceri, Davide - 2018
considerable heterogeneity in effects depending on country characteristics.Liberalization increases output in countries with high … lowfinancial depth and inclusion and where liberalization is followed by a crisis. Difference-indifferenceestimates using sectoral … data suggest that liberalization episodes reduce the shareof labor income, particularly for industries with higher external …
Persistent link: https://www.econbiz.de/10012918557
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The Distributional Effects of Government Spending Shocks in Developing Economies
Furceri, Davide - 2018
We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality....
Persistent link: https://www.econbiz.de/10012922628
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Will COVID-19 have long-lasting effects on inequality? : evidence from past pandemics
Furceri, Davide; Loungani, Prakash; Ostry, Jonathan David; … - 2021
This paper provides evidence on the impact of major epidemics from the past two decades on income distribution. The pandemics in our sample, even though much smaller in scale than COVID-19, have led to increases in the Gini coefficient, raised the income share of higher-income deciles, and...
Persistent link: https://www.econbiz.de/10012613506
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The rise in inequality after pandemics : can fiscal support play a mitigating role?
Furceri, Davide; Loungani, Prakash; Ostry, Jonathan David; … - 2021
Major epidemics of the last two decades (SARS, H1N1, MERS, Ebola and Zika) have been followed by increases in inequality (Furceri, Loungani, Ostry and Pizzuto, 2020). In this paper, we show that the extent of fiscal consolidation in the years following the onset of these pandemics has played an...
Persistent link: https://www.econbiz.de/10012613680
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Distributional effects of monetary policy
Bonifacio, Valentina; Brandao Marques, Luis; Budina, Nina; … - 2021
As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels...
Persistent link: https://www.econbiz.de/10012605530
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The Distributional Effects of Fiscal Consolidation
Ball, Laurence - 2013
This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation has typically had significant distributional effects by raising inequality, decreasing...
Persistent link: https://www.econbiz.de/10013079259
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The effects of monetary policy shocks on inequality
Furceri, Davide; Loungani, Prakash; Zdzienicka, Aleksandra - 2016
This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary...
Persistent link: https://www.econbiz.de/10011716325
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The distributional effects of government spending shocks in developing economies
Furceri, Davide; Ge, Jun; Loungani, Prakash; Melina, … - 2018
We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality....
Persistent link: https://www.econbiz.de/10011848133
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Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics
Furceri, Davide; Loungani, Prakash; Ostry, Jonathan D.; … - 2022
This paper provides evidence on the impact of major epidemics from the past two decades on income distribution. The pandemics in our sample, even though much smaller in scale than COVID-19, have led to increases in the Gini coefficient, raised the income share of higher-income deciles, and...
Persistent link: https://www.econbiz.de/10013305612