contribution of the various channels through which monetary policy affects inequality, I estimate the model using Bayesian methods … inequality within the lower 90 percent of the wealth distribution, primarily by lowering unemployment. On net, it reduced overall … wealth and income inequality, as measured by the Gini index. Surprisingly, QE has weaker distributional consequences compared …

on aggregate demand is amplified in this setup by inequality between saver and hand-to-mouth households. The …

with restrained fiscal policy. Third, it exacerbates preexisting wealth and income inequality by redistributing wealth …