We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly … regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under …

We show that the effectiveness of redistribution policy is tied to how much inflation it generates, and thereby to … effects of the CARES Act in a COVID recession. We find that transfer multipliers are larger, and that moreover, redistribution …

This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of … finds that contractionary (expansionary) monetary actions increase (reduce) income inequality. The effect, however, varies … business cycle, and across countries depending on the share of labor income and redistribution policies. In particular, we find …