This paper uses a novel empirical strategy to present empirical estimates of the effect of an exogenous shock to …

In this paper, I document empirical evidence that an external shock in capital inflows leads to an increase in income … inequality in advanced economies and causes a decline in income inequality in emerging market economies. I estimate a panel VAR …, a capital inflow shock increases primarily the income share of the rich in advanced economies and the poorest half in …

Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the … projections and high dimensional fixed effects, we show that a one standard deviation contractionary monetary policy shock …