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The UK has experienced a dramatic increase in earnings and income inequality over the past four decades. We use … detailed micro level information to construct quarterly historical measures of inequality from 1969 to 2012. We investigate … whether monetary policy shocks played a role in explaining this increase in inequality. We find that contractionary monetary …
Persistent link: https://www.econbiz.de/10011431334
inequality from 2005 to 2016 at the monthly frequency. We investigate the dynamic relationship between monetary policy and the … evolution of wealth inequality measures. Our findings suggest that expansionary monetary policy shocks lead to an increase in … wealth inequality and contributed significantly to its fluctuations. This effect is heterogenous across the wealth …
Persistent link: https://www.econbiz.de/10012120339
The UK has experienced a dramatic increase in earnings and income inequality over the past four decades. We use … detailed micro level information to construct historical measures of inequality from 1968 to 2008. We study whether monetary … monetary policy shocks lead to a deterioration in earnings and income inequality and contribute to its fluctuation. Our …
Persistent link: https://www.econbiz.de/10010480347
Persistent link: https://www.econbiz.de/10002048975
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, effective revenue ceilings induce an increase in deficit, debt and inflation. Under many scenarios, including recurrent adverse …
Persistent link: https://www.econbiz.de/10012137093
Who prevails when fiscal and monetary authorities disagree about the value of public expenditure and how much to discount the future? When the fiscal authority sets debt as its main policy instrument it achieves fiscal dominance, rendering the preferences of the central bank, and thus its...
Persistent link: https://www.econbiz.de/10012308453
Persistent link: https://www.econbiz.de/10014249266
responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …
Persistent link: https://www.econbiz.de/10014538995
. The macroeconomy we study has considerable income inequality, which gives rise to a large private sector credit market …
Persistent link: https://www.econbiz.de/10011998041