abstract: 'This paper evaluates the monetary policy transmission and income

  inequality in Sub-Saharan Africa (SSA) countries. We find procyclical

  response of income inequality to unanticipated monetary easing in the

  last two decades. Countercyclical monetary measures may have been

  efficient, but they have been dis-equalising as well. Taking cognisance

  of the explanations of the earnings heterogeneity channel, this evidence

  signals high concentration of assets and resources, limited employment

  of labour and limited distributive capacity of the state in SSA

  countries. Economic outturns may have favoured chiefly, the top of the

  distribution-entrepreneurs and their profit margin. Three main channels

  distinguish the transmission of standard and non-standard monetary

  measures: the reaction in the stock market, the response of the exchange

  rate and the fiscal response. The evidence demonstrates that the fiscal

  reaction to monetary policy action is important to the overall

  transmission of monetary policy to macroeconomic aggregates.

  Instructively, we find that the inflation cost of countercyclical

  monetary measures is comparatively less severe for standard monetary

  measures than non-standard monetary actions.'
affiliation: 'Ahiadorme, JW (Corresponding Author), Univ Verona, Dept Econ, I-37129
  Verona, Italy.

  Ahiadorme, Johnson Worlanyo, Univ Verona, Dept Econ, I-37129 Verona, Italy.'
author: Ahiadorme, Johnson Worlanyo
author-email: johnsonworlanyo.ahiadorme@univr.it
author_list:
- family: Ahiadorme
  given: Johnson Worlanyo
da: '2023-09-28'
doi: 10.1007/s10644-021-09358-0
earlyaccessdate: OCT 2021
eissn: 1574-0277
files: []
issn: 1573-9414
journal: ECONOMIC CHANGE AND RESTRUCTURING
keywords: Monetary policy; Income inequality; Distributive channels
keywords-plus: REDISTRIBUTION; INFLATION; IDENTIFICATION; HOUSEHOLDS
language: English
month: AUG
number: '3'
number-of-cited-references: '43'
orcid-numbers: Ahiadorme, Johnson Worlanyo/0000-0003-4327-8267
pages: 1555-1585
papis_id: 8f76bc79a85c63d47f08ba766479e5db
ref: Ahiadorme2022monetarypolicy
researcherid-numbers: Ahiadorme, Johnson Worlanyo/L-9239-2017
times-cited: '1'
title: Monetary policy transmission and income inequality in Sub-Saharan Africa
type: Article
unique-id: WOS:000712954500001
usage-count-last-180-days: '0'
usage-count-since-2013: '5'
volume: '55'
web-of-science-categories: Economics
year: '2022'