Inequality is increasingly a concern. Fiscal and structural policies are well-understood mitigators. However, less is … known about the potential role of monetary policy. This paper investigates how inequality matters for monetary policy within … a tractable Two-Agent New Keynesian model that captures important dimensions of inequality. We find some support for …

, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary …

low and stable inflation could at the same time reduce consumption inequality over a 12-18 month horizon, commonly … currency by keeping inflation low and steady. This paper provides evidence that monetary policy tightening aimed at maintaining … benefit mainly from lower inflation. By contrast, the real consumption of individuals at higher ends of the consumption …

This paper develops and estimates a game-theoretical model of inflation targeting where the central banker …''s preference parameters for Canada, Sweden, and the United Kingdom are statistically different from the one implied by the commonly …

Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical … assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of … inflation expectations' anchoring using survey-based inflation forecasts for 45 economies starting in 1989. We then study the …

This paper develops a small model of the output-inflation process in the United States in order to examine the … interest rates respond contemporaneously to output and inflation and a forward-looking policy rule that exploits information … model of inflation where positive deviations of aggregate demand from potential are more inflationary than negative …

This paper studies the role of central bank communication of its economic assessment in shaping inflation dynamics … agents'' understanding of policy reasoning, could bring about less volatile inflation and interest rate dynamics, and afford …