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This paper investigated the link between inflation and the top decile income share after the global financial crisis. The analysis was done on a sample of 42 countries. We found that higher inflation has reduced the income going to the top decile. The main explanation is that inflation has...
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monetary policy since the onset of the 2007–08 financial crisis in a number of measures of deflation probability — the Survey …) forecasts. To do so, we use stochastic simulations of the model to generate measures of deflation probability in which the … a lower bound on policy rates. We find that measures of deflation probability are consistent with the perception that …
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This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the...
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