probability using 1960–2015 cross-country data, focusing on the roles of income distribution or inequality and aging. It is found … that: (1) both the level of, and the change in, inequality are important drivers of MIT, with surprisingly large impacts …

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 …