This paper analyzes the relationships between monetary policy and income inequality in Korea. We calculate Gini …-exogeneity VAR representing Korean and US economies to examine the effects of monetary policies on income inequality. The results … (increase) significantly by 0.48% and 0.15%, respectively. The contributions of monetary policy shocks to income inequality are …

This study investigates whether the Federal Reserve (Fed) should care about inequality. We develop a Heterogeneous … labor supply. We consider the income Gini coefficient in a monetary policy rule to see how an inequality-targeting monetary … rule with an explicit inequality target can be welfare improving, even if inequality becomes volatile. Second, there is an …