The Impact of Monetary Policy on Income Inequality : Does Inflation Targeting Matter?

We reassess the effects of contractionary monetary policy on income inequality by investigating whether inflation targeting affects this nexus. Using data across the G12 economies from 1974 to 2019, we find that contractionary monetary policy shocks tend to increase disposable income inequality. However, this effect has decreased in countries that adopted inflation targeting in the early 1990s, and in some cases it has disappeared altogether

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Year of publication:	[2023]
Authors:	Tavares Garcia, Francisco ; Cross, Jamie
Publisher:	[S.l.] : SSRN
Subject:	Inflationssteuerung \| Inflation targeting \| Geldpolitik \| Monetary policy \| Einkommensverteilung \| Income distribution \| Wirkungsanalyse \| Impact assessment \| Schätzung \| Estimation \| OECD-Staaten \| OECD countries \| Welt \| World

Extent:	1 Online-Ressource (16 p)
Type of publication:	Book / Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.4455243 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014356557