2023-09-28 14:46:10 +00:00
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abstract: 'This paper examines how the ECB''s expansionary monetary policy affects
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income inequality in 10 euro area countries over the period 1999-2014.
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We distinguish two channels-labor-market and financial-through which
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monetary policy can have distributional effects. The labor-market
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channel is captured by wages and employment and the financial channel by
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asset prices and returns. We find that expansionary monetary policy in
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the euro area reduces income inequality, especially in the periphery
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countries. The labor-market channel enhances the equalizing effect:
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monetary expansion reduces income inequality stronger by raising wages
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and employment. There is limited evidence for the financial channel.'
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affiliation: 'Samarina, A (Corresponding Author), De Nederlandsche Bank, Amsterdam,
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Netherlands.
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Samarina, Anna, De Nederlandsche Bank, Amsterdam, Netherlands.
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Nguyen, Anh D. M., Int Monetary Fund, Fiscal Affairs Dept, Washington, DC USA.'
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author: Samarina, Anna and Nguyen, Anh D. M.
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author-email: 'a.samarina@dnb.nl
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anguyen3@imf.org'
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author_list:
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- family: Samarina
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given: Anna
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- family: Nguyen
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given: Anh D. M.
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da: '2023-09-28'
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doi: 10.1111/jmcb.13017
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earlyaccessdate: FEB 2023
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eissn: 1538-4616
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files: []
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issn: 0022-2879
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journal: JOURNAL OF MONEY CREDIT AND BANKING
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keywords: income inequality; monetary policy; euro area
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keywords-plus: 'CREDIT SPREADS; HOUSE PRICES; TRANSMISSION; IDENTIFICATION; SHOCKS;
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REDISTRIBUTION; MACROECONOMICS; SURPRISES; INFLATION; INFERENCE'
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language: English
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month: 2023 FEB 8
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number-of-cited-references: '103'
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papis_id: c8173b1e450ab1df075dee425e5c299c
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ref: Samarina2023doesmonetary
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times-cited: '0'
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title: Does Monetary Policy Affect Income Inequality in the Euro Area?
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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:000928947600001
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usage-count-last-180-days: '8'
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usage-count-since-2013: '12'
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web-of-science-categories: Business, Finance; Economics
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year: '2023'
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