عنوان

The impact of monetary policy on economic inequality /

(Number (ISBN

3658248351

(Number (ISBN

9783658248352

Erroneous ISBN

3658248343

Erroneous ISBN

9783658248345

Title Proper

The impact of monetary policy on economic inequality /

General Material Designation

[Book]

First Statement of Responsibility

Patricia Dorr.

Place of Publication, Distribution, etc.

Wiesbaden, Germany :

Name of Publisher, Distributor, etc.

SpringerGabler,

Date of Publication, Distribution, etc.

[2018]

Specific Material Designation and Extent of Item

1 online resource

Series Title

BestMasters

Text of Note

Includes bibliographical references.

Text of Note

Intro; Preface; Contents; List of Figures; List of Tables; List of Abbreviations; 1 Introduction; 2 Monetary Policy; 3 General Equilibrium Models; 3.1 New Keynesian Models; 3.2 Classical Monetary Models; 4 Introducing Agent Heterogeneity; 5 Combining General Equilibrium Models and Agent Heterogeneity; 5.1 Model Set-up; 5.2 Equilibrium -- The Balanced Growth Path; 5.3 Stability of the Income Distribution; 5.4 Monetary Policy and Inequality; 5.4.1 The Impact of a Nominal Interest Rate Change; 5.4.2 Stability of the Balanced Growth Path; 5.5 Labor Market Segmentation; 6 Empirical Evidence

Text of Note

6.1 Previous Findings6.2 Own Course of Action; 6.2.1 Methodology and Data; 6.2.2 Results; 7 Conclusion; References; Appendices; A Skill, Interest and Wage Change; B Proof that Ė/E = 0; C Average Education Spending; D Time Series Plots; E Regression Results; F Impulse Response Functions

0

8

Text of Note

The extensive monetary policy of central banks during the Great Recession has re-newed the interest in the relation between (possibly) non-neutral money and wealth and income inequality. In this work, a dynamic general equilibrium model approach is used to study the effects of an inflation rate change on inequality. These effects are found to be temporary and to work through two channels: First, at the consumer level, intertemporal substitution effects differ even under an identical policy rule of all agents due to individual skill and capital endowments. This implies a transitory effect of inflation rate changes on inequality. Second, an indirect effect results from different capital intensities in industrial branches and capital-labour substitution effects. This may be endorsed by varying individual skill levels. The theoretical model's implications are tested empirically in a time series analysis on US data. Contents General Equilibrium Models Introducing Agent Heterogeneity Empirical Evidence Target Groups Scholars and students of economics with a focus on monetary policy, general equilibrium models and/or economic inequality Executives and consultants in the field of monetary policy About the Author Patricia Dörr is currently a PhD student in economics at Trier University. Her focus lies on survey statistics and therein variance estimation.--

Title

Impact of monetary policy on economic inequality.

International Standard Book Number

9783658248345

Income distribution.

Monetary policy.

Income distribution.

Monetary policy.

Number

Edition

Class number

Book number

Doerr, Patricia

Date of Transaction

20200823183026.0

Cataloguing Rules (Descriptive Conventions))

pn

Electronic name

[Book]

Y