We study the distributional consequences of monetary policy-induced credit supply in the labor market. To this end, we construct a novel dataset that links worker employment histories to firm financials and banking relationships in Germany. Firms in relationships with banks that are more exposed...

We present a model in which temporary shocks can permanently scar the economy's productive capacity. Unemployed workers lose skill and are expensive to retrain, generating multiple steady state unemployment rates. Large temporary shocks push the economy into a liquidity trap, generating...

This paper studies the effect of monetary policy shocks on different demographic groups in the U.S. labor market. I look at the effect of a contractionary monetary policy shock on unemployment rates of high and low-skill workers, finding that the low-skill group is more sensitive to these shocks...

The causes and consequences of the cyclical fluctuations in the top compensation share (TCS) and top capital income share (TKIS) are studied through the lens of an estimated two-agent New Keynesian model, featuring top and middle-class earners, capital-skill complementarity, and differences in...

In this dissertation, I examine the effect of the minimum wage and monetary policy on inequality and the aggregate economy. The first chapter develops a theoretical model to simulate the impact of policy experiments on labor income inequality and the aggregate economy. The second chapter...