abstract: 'This paper examines how the ECB''s expansionary monetary policy affects

  income inequality in 10 euro area countries over the period 1999-2014.

  We distinguish two channels-labor-market and financial-through which

  monetary policy can have distributional effects. The labor-market

  channel is captured by wages and employment and the financial channel by

  asset prices and returns. We find that expansionary monetary policy in

  the euro area reduces income inequality, especially in the periphery

  countries. The labor-market channel enhances the equalizing effect:

  monetary expansion reduces income inequality stronger by raising wages

  and employment. There is limited evidence for the financial channel.'
affiliation: 'Samarina, A (Corresponding Author), De Nederlandsche Bank, Amsterdam,
  Netherlands.

  Samarina, Anna, De Nederlandsche Bank, Amsterdam, Netherlands.

  Nguyen, Anh D. M., Int Monetary Fund, Fiscal Affairs Dept, Washington, DC USA.'
author: Samarina, Anna and Nguyen, Anh D. M.
author-email: 'a.samarina@dnb.nl

  anguyen3@imf.org'
author_list:
- family: Samarina
  given: Anna
- family: Nguyen
  given: Anh D. M.
da: '2023-09-28'
doi: 10.1111/jmcb.13017
earlyaccessdate: FEB 2023
eissn: 1538-4616
files: []
issn: 0022-2879
journal: JOURNAL OF MONEY CREDIT AND BANKING
keywords: income inequality; monetary policy; euro area
keywords-plus: 'CREDIT SPREADS; HOUSE PRICES; TRANSMISSION; IDENTIFICATION; SHOCKS;

  REDISTRIBUTION; MACROECONOMICS; SURPRISES; INFLATION; INFERENCE'
language: English
month: 2023 FEB 8
number-of-cited-references: '103'
papis_id: c8173b1e450ab1df075dee425e5c299c
ref: Samarina2023doesmonetary
times-cited: '0'
title: Does Monetary Policy Affect Income Inequality in the Euro Area?
type: Article; Early Access
unique-id: WOS:000928947600001
usage-count-last-180-days: '8'
usage-count-since-2013: '12'
web-of-science-categories: Business, Finance; Economics
year: '2023'