Central bank policies and income and wealth inequality

A new survey paper “takes stock of the literature on the relationship between central bank policies and
inequality.” It also notes the findings in my paper with Davide Furceri and Aleksandra Zdzienicka:

“Furceri et al. (2018) find that the effect of monetary policy shocks on income inequality is larger in countries with higher labour income shares in total income.”

“The impact of monetary policy shocks on inequality may vary over the business cycle. Furceri et al. (2018) find that contractionary monetary policy has stronger effects on income inequality during booms, while expansionary shocks have larger dis-equalizing effects during recessions.”

My paper is available here. For those who do not have access, the working paper version is available here.

Posted by at 8:37 AM

Labels: Inclusive Growth


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