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Distributional Effects of Monetary Policy in Emerging Market Economies
Prasad, Eswar S. - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10013016221
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The Redistributive Effects of Monetary Policy
Ledoit, Olivier - 2011
one furthest is worse off . This redistribution channel is independent from the ones previously noted in the literature …
Persistent link: https://www.econbiz.de/10013118566
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Monetary policy and the redistribution channel in the euro area
Pekanov, Atanas - 2024
Monetary policy has implicit redistribution effects for households when households are different. This changes the … unique question in the HFCS to calculate the sufficient statistics necessary to evaluate these redistribution channels. For … the euro area the three redistribution channels enhance monetary policy - the effects of one time expansionary monetary …
Persistent link: https://www.econbiz.de/10014545241
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Moving closer or drifting apart : distributional effects on monetary policy
Hafemann, Lucas; Rudel, Paul; Schmidt, Jörg - 2017
Our paper picks up the current controversial debate about increasing (income) inequality due to recent monetary policy measures in major advanced economies. We use a VAR framework identified with sign restrictions to figure out how income in- equality related measures react to monetary policy...
Persistent link: https://www.econbiz.de/10011647171
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The effect of monetary policy on inflation heterogeneity along the income distribution
Ampudia, Miguel; Ehrmann, Michael; Strasser, Georg - 2023
This paper studies the effect of monetary policy on inflation along the income distribution in several euro area countries. It shows that monetary policy has differential effects and identifies two channels which point in opposite directions. On the one hand, different consumption shares imply...
Persistent link: https://www.econbiz.de/10014478496
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The Distributional Impact of Monetary Policy Easing in the UK between 2008 and 2014
Pugh, Alice - 2018
Monetary policy has the potential to affect income and wealth inequality in the short run. This has always been true, but given the unprecedented period of accommodative policy in a number of advanced economies including the UK over the past decade, it has become more important to understand the...
Persistent link: https://www.econbiz.de/10012922649
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The Distributional Effects of Disinflationary Monetary Policy
Thorbecke, Willem - 2010
Macroeconomists traditionally focus on the aggregate consequences of disinflationary monetary policy, not its distributional effects. This paper considers these distributional effects. The evidence indicates that contractionary monetary policy harms interest rate-sensitive industries by...
Persistent link: https://www.econbiz.de/10014065428
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Microdata for Macro Models : The Distributional Effects of Monetary Policy
Corrado, Luisa - 2020
In this paper we investigate the effect of standard and non-standard monetary policy implemented by the ECB on income inequality in Italy. We use for the first time the survey microdata on Income and Living Conditions (EU-SILC, Istat) in a repeated cross-section experiment to build measures of...
Persistent link: https://www.econbiz.de/10012832220
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Distributional effects of monetary policy in emerging market economies
Prasad, Eswar S.; Zhang, Boyang - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011309046
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Optimal carbon taxation and horizontal equity : a welfare theoretic approach with application to German household data
Hänsel, Martin C.; Franks, Max; Kalkuhl, Matthias; … - 2021
We develop a model of optimal carbon taxation and redistribution taking into account horizontal equity concerns by …-efficient households if and only if social inequality aversion is sufficiently high. We further find that redistribution of carbon tax …
Persistent link: https://www.econbiz.de/10012485343