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Monetary Policy and Household Inequality

Ampudia, Miguel - 2018

This paper considers how monetary policy produces heterogeneous effects on euro area households, depending on the composition of their income and on the components of their wealth. We first review the existing evidence on how monetary policy affects income and wealth inequality. We then...

Persistent link: https://www.econbiz.de/10012913667

Monetary Policy, Agent Heterogeneity and Inequality : Insights from a Three-Agent New Keynesian Model

Eskelinen, Maria - 2021

In this paper I develop a New Keynesian dynamic stochastic general equilibrium model which features three different types of representative agents (THRANK): the poor hand-to-mouth, the wealthy hand-to-mouth and the non-hand-to mouth households. Compared to a full-scale HANK model, this model is...

Persistent link: https://www.econbiz.de/10013210586

House Prices and Monetary Policy in the Euro Area : Evidence from Structural VARs

Nocera, Andrea - 2017

We use a Bayesian stochastic search variable selection structural VAR model to investigate the heterogeneous impact of …

Persistent link: https://www.econbiz.de/10012954350

The Impact of Monetary Policy and Exchange Rate Shocks in Poland : Evidence from a Time-Varying VAR

Arratibel, Olga - 2014

This paper follows the Bayesian time-varying VAR approach with stochastic volatility developed by Primiceri (2005), to …

Persistent link: https://www.econbiz.de/10013060040

Immigrants and the Distribution of Income and Wealth in the Euro Area : First Facts and Implications for Monetary Policy

Dossche, Marteen; Kolndrekaj, Aleksandra; Propst, Maximilian - 2022

We use household surveys to describe differences in wages, income, wealth and liquid assets of households born in their country of residence (“natives”) vs. those born in other EU and non-EU countries (“immigrants”). The differences in wealth are more substantial than the differences in...

Persistent link: https://www.econbiz.de/10013491571

How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area

Lenza, Michele; Slacalek, Jirka - 2021

aggregate effects of quantitative easing are estimated in a multi-country VAR model of the four largest euro area countries, in …

Persistent link: https://www.econbiz.de/10013315393

Global Impacts of Us Monetary Policy Uncertainty Shocks

Lastauskas, Povilas; Minh, Anh - 2021

declines in output, inflation, and the interest rate. Moreover, we document strong global impacts, making the world move in a …

Persistent link: https://www.econbiz.de/10013243822

Monetary Policy Shocks in a Two-Sector Open Economy : An Empirical Study

Llaudes, Ricardo - 2007

setting within the context of a VAR frame-work. It considers an economy with two sectors, a tradable sector and a non …

Persistent link: https://www.econbiz.de/10012776366

U.S. Evolving Macroeconomic Dynamics : A Structural Investigation

Benati, Luca; Mumtaz, Haroon - 2021

We fit a Bayesian time-varying parameters structural VAR with stochastic volatility to the Federal Funds rate, GDP …-policy, supply, and money demand-by imposing sign restrictions on the estimated reduced-form VAR on a period-by-period basis. The … evolution of the monetary rule in the structural VAR accords well with narrative accounts of post-WWII U.S. economic history …

Persistent link: https://www.econbiz.de/10013317172

Quantifying Financial Stability Trade-Offs for Monetary Policy : A Quantile VAR Approach

Chavleishvili, Sulkhan; Kremer, Manfred; Lund-Thomsen, … - 2023

We propose a novel empirical approach to inform monetary policymakers about the potential effects of policy action when facing trade-offs between financial and macroeconomic stability. We estimate a quantile vector autoregression (QVAR) for the euro area covering the real economy, monetary...

Persistent link: https://www.econbiz.de/10014352841