Further Evidence On The Distributional Effects Of Disinflationary Monetary Policy
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Further Evidence On The Distributional Effects Of Disinflationary Monetary Policy
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Author : Willem Thorbecke
language : en
Publisher:
Release Date : 1999
Further Evidence On The Distributional Effects Of Disinflationary Monetary Policy written by Willem Thorbecke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with United States categories.
Distributional Effects Of Monetary Policy
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Author : Valentina Bonifacio
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-30
Distributional Effects Of Monetary Policy written by Valentina Bonifacio and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-30 with Business & Economics categories.
As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels through which monetary policy easing affect income and wealth distribution, and presents some quantitative findings about their importance. Key takeaways are: (i) central banks should remain focused on macro stability while continuing to improve public communications about distributional effects of monetary policy, and (ii) supportive fiscal policies and structural reforms can improve macroeconomic and distributional outcomes.
Who Pays For Disinflation
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Author : Willem Thorbecke
language : en
Publisher: Levy Economics Institute of Bard College
Release Date : 1997
Who Pays For Disinflation written by Willem Thorbecke and has been published by Levy Economics Institute of Bard College this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Deflation (Finance) categories.
Innocent Bystanders Monetary Policy And Inequality In The U S
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Author : Mr.Olivier Coibion
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01
Innocent Bystanders Monetary Policy And Inequality In The U S written by Mr.Olivier Coibion and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.
Risk And Business Cycles
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Author : Tyler Cowen
language : en
Publisher: Routledge
Release Date : 2002-09-26
Risk And Business Cycles written by Tyler Cowen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-26 with Business & Economics categories.
In this book the author argues the case for the revival of an important role for monetary causes in business cycle theory, which challenges the current trend towards favouring purely real theories.
Black Males Left Behind
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Author : Ronald B. Mincy
language : en
Publisher: The Urban Insitute
Release Date : 2006
Black Males Left Behind written by Ronald B. Mincy and has been published by The Urban Insitute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Despite the overall economic gains in the 1990s, many young black men continue to have the poorest life chances of anyone in our society. Joblessness and low earnings among these less-educated young adults are contributing to reductions in marriage, increases in nonmarital childbearing, and a host of other social problems. In Black Males Left Behind, Ronald Mincy has assembled a distinguished group of experts who examine how less-educated black men fared relative to other less-educated young people during the economic expansion of the 1990s and why. Chapters explore the roles of the macroeconomy, the deconcentration of blue-collar employment, criminal justice policy, and the employment aspirations of young less-educated black men and consider their implications for the design of employment services, welfare-to-work policies, workforce development policy, and child support enforcement. Two chapters comprehensively review policy opportunities to assist less-educated young black fathers and discuss how to overcome political resistance to initiatives serving less-educated black men. This book makes a compelling case for greater public attention to a serious domestic problem.
Inflation Expectations
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Author : Peter J. N. Sinclair
language : en
Publisher: Routledge
Release Date : 2009-12-16
Inflation Expectations written by Peter J. N. Sinclair and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-16 with Business & Economics categories.
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Monetary Policy In An Era Of Capital Market Inflation
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Author : Jan Toporowski
language : en
Publisher:
Release Date : 1999
Monetary Policy In An Era Of Capital Market Inflation written by Jan Toporowski and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Capital market categories.
European Inflation Dynamics
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Author : Jordi Galí
language : en
Publisher:
Release Date : 2001
European Inflation Dynamics written by Jordi Galí and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Economics categories.
We provide evidence on the fit of the New Phillips Curve (NPQ for the Euro area over the period 1970-1998, and use it as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyze the factors underlying inflation inertia by examining the cyclical behavior of marginal costs, as well as that of its two main components, namely, labor productivity and real wages. Some of the findings can be summarized as follows: (a) the NPC fits Euro area data very well, possibly better than U.S. data, (b) the degree of price stickiness implied by the estimates is substantial, but in line with survey evidence and U.S. estimates, (c) inflation dynamics in the Euro area appear to have a stronger forward- looking component (i.e., less inertia) than in the U.S., (d) labor market frictions, as manifested in the behavior of the wage markup, appear to have played a key role in shaping the behavior of marginal costs and, consequently, inflation in Europe.
Negative Interest Rate Policy Nirp
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Author : Andreas Jobst
language : en
Publisher: International Monetary Fund
Release Date : 2016-08-10
Negative Interest Rate Policy Nirp written by Andreas Jobst and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-10 with Business & Economics categories.
More than two years ago the European Central Bank (ECB) adopted a negative interest rate policy (NIRP) to achieve its price stability objective. Negative interest rates have so far supported easier financial conditions and contributed to a modest expansion in credit, demonstrating that the zero lower bound is less binding than previously thought. However, interest rate cuts also weigh on bank profitability. Substantial rate cuts may at some point outweigh the benefits from higher asset values and stronger aggregate demand. Further monetary accommodation may need to rely more on credit easing and an expansion of the ECB’s balance sheet rather than substantial additional reductions in the policy rate.
