2023-09-28 14:46:10 +00:00
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abstract: 'This paper evaluates the monetary policy transmission and income
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inequality in Sub-Saharan Africa (SSA) countries. We find procyclical
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response of income inequality to unanticipated monetary easing in the
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last two decades. Countercyclical monetary measures may have been
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efficient, but they have been dis-equalising as well. Taking cognisance
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of the explanations of the earnings heterogeneity channel, this evidence
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signals high concentration of assets and resources, limited employment
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of labour and limited distributive capacity of the state in SSA
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countries. Economic outturns may have favoured chiefly, the top of the
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distribution-entrepreneurs and their profit margin. Three main channels
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distinguish the transmission of standard and non-standard monetary
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measures: the reaction in the stock market, the response of the exchange
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rate and the fiscal response. The evidence demonstrates that the fiscal
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reaction to monetary policy action is important to the overall
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transmission of monetary policy to macroeconomic aggregates.
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Instructively, we find that the inflation cost of countercyclical
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monetary measures is comparatively less severe for standard monetary
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measures than non-standard monetary actions.'
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affiliation: 'Ahiadorme, JW (Corresponding Author), Univ Verona, Dept Econ, I-37129
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Verona, Italy.
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Ahiadorme, Johnson Worlanyo, Univ Verona, Dept Econ, I-37129 Verona, Italy.'
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author: Ahiadorme, Johnson Worlanyo
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author-email: johnsonworlanyo.ahiadorme@univr.it
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author_list:
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- family: Ahiadorme
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given: Johnson Worlanyo
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da: '2023-09-28'
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doi: 10.1007/s10644-021-09358-0
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earlyaccessdate: OCT 2021
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eissn: 1574-0277
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files: []
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issn: 1573-9414
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journal: ECONOMIC CHANGE AND RESTRUCTURING
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keywords: Monetary policy; Income inequality; Distributive channels
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keywords-plus: REDISTRIBUTION; INFLATION; IDENTIFICATION; HOUSEHOLDS
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language: English
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month: AUG
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number: '3'
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number-of-cited-references: '43'
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orcid-numbers: Ahiadorme, Johnson Worlanyo/0000-0003-4327-8267
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pages: 1555-1585
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papis_id: 8f76bc79a85c63d47f08ba766479e5db
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ref: Ahiadorme2022monetarypolicy
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researcherid-numbers: Ahiadorme, Johnson Worlanyo/L-9239-2017
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times-cited: '1'
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title: Monetary policy transmission and income inequality in Sub-Saharan Africa
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2023-10-01 08:15:07 +00:00
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type: article
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2023-09-28 14:46:10 +00:00
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unique-id: WOS:000712954500001
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usage-count-last-180-days: '0'
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usage-count-since-2013: '5'
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volume: '55'
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web-of-science-categories: Economics
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year: '2022'
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