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Innocent bystanders? : monetary policy and inequality in the U.S.
Coibion, Olivier; Gorodnichenko, Yuriy; Küng, 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 income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10009621686
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The Elusive Quest for Inclusive Growth; Growth, Poverty, and Inequality in Asia
Balakrishnan, Ravi; Steinberg, Chad; Syed, Murtaza H. - International Monetary Fund (IMF) - 2013
This paper assesses how pro-poor and inclusive Asia’s recent growth has been, and what factors have been driving these outcomes. It finds that while poverty has fallen across the region over the last two decades, inequality has increased, dampening the impact of growth on poverty reduction. As...
Persistent link: https://www.econbiz.de/10011242249
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Inflation and income inequality : is food inflation different?
Walsh, James P.; Yu, Jiangyan - 2012
There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into food and nonfood inflation and assessing whether...
Persistent link: https://www.econbiz.de/10009618580
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Global Commodity Prices, Monetary Transmission, and Exchange Rate Pass-Through in the Pacific Islands
Peiris, Shanaka J.; Ding, Ding - International Monetary Fund (IMF) - 2012
Pacific Islands countries are vulnerable to commodity price shocks, and this poses challenges to monetary policy. The high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs suggest a greater efficacy of exchange rate changes in...
Persistent link: https://www.econbiz.de/10010790298
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Money As Indicator for the Natural Rate of Interest
Berger, Helge; Weber, Henning - International Monetary Fund (IMF) - 2012
The natural interest rate is of great relevance to central banks, but it is difficult to measure. We show that in a standard microfounded monetary model, the natural interest rate co-moves with a transformation of the money demand that can be computed from actual data. The co-movement is of a...
Persistent link: https://www.econbiz.de/10009650625
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The ECB’s Monetary Analysis Revisited
Berger, Helge; Harjes, Thomas; Stavrev, Emil - International Monetary Fund (IMF) - 2008
Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non-monetary factors alone may leave the ECB with an incomplete...
Persistent link: https://www.econbiz.de/10005599686
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Two Sides of the Same Coin? Rebalancing and Inclusive Growth in China
Lee, Il Houng; Syed, Murtaza H.; Wang, Xin - International Monetary Fund (IMF) - 2013
This paper uses the Shapley Value decomposition technique to assess the factors behind the rise of inequality in China …. It finds that, in many ways, inequality may have been an inevitable by-product of China’s investment and export …. Across China’s provinces, divergences in per capita incomes are driven by the relative level of capital-intensity, public …
Persistent link: https://www.econbiz.de/10010790266
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Framework for Independent Monetary Policy in China.
Goodfriend, Marvin - 2006
. MONETARY AND BANKING INSTITUTIONS IN CHINA -- VI. INDEPENDENT MONETARY POLICY FOR CHINA -- VII. CONCLUDING REMARKS …
Persistent link: https://www.econbiz.de/10012691091
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Infrastructure and Income Distribution in ASEAN-5; What are the Links?
Seneviratne, Dulani; Sun, Yan - International Monetary Fund (IMF) - 2013
Adequate infrastructure has long been viewed as an important factor in economic development. Based on regressions covering 76 advanced and emerging market economies, this paper estimates the impact of infrastructure and investment on income distribution. It finds that better infrastructure, both...
Persistent link: https://www.econbiz.de/10011242245
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Inclusive Growth and the Incidence of Fiscal Policy in Mauritius; Much Progress, But More Could be Done
David, Antonio; Petri, Martin - International Monetary Fund (IMF) - 2013
Using data from three household surveys, we review whether growth in Mauritius was inclusive and discuss the incidence of public expenditures and taxes. Generally, Mauritius enjoys an even income distribution and low rates of poverty. Nevertheless, over the 2000s, despite overall progress, the...
Persistent link: https://www.econbiz.de/10011242301