This paper uses household budget survey microdata to explore the growth in household income inequality in Hungary for the period 1987 to 1995, and compares it with inequality in the UK in 1995/96. Decomposition of inequality according to both household characteristics and income sources shows...

In this paper, in contrast to the standard "Optimising IS-LM" framework, the monetary policy problem arises from within the model. I consider the impact on the monetary policy transmission mechanism, and on the objectives of policy itself, when some consumers are subject to credit constraints,...