Innocent Bystanders? : Monetary Policy and Inequality in the U.S. /

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore,...

Disgrifiad llawn

Manylion Llyfryddiaeth
Prif Awdur: Silvia, John
Awduron Eraill: Coibion, Olivier, Gorodnichenko, Yuriy, Kueng, Lorenz
Fformat: Cylchgrawn
Iaith:English
Cyhoeddwyd: Washington, D.C. : International Monetary Fund, 2012.
Cyfres:IMF Working Papers; Working Paper ; No. 2012/199
Mynediad Ar-lein:Full text available on IMF
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020 |z 9781475505498 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Silvia, John. 
245 1 0 |a Innocent Bystanders? :   |b Monetary Policy and Inequality in the U.S. /  |c John Silvia, Lorenz Kueng, Olivier Coibion, Yuriy Gorodnichenko. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2012. 
300 |a 1 online resource (57 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy. 
538 |a Mode of access: Internet 
700 1 |a Coibion, Olivier. 
700 1 |a Gorodnichenko, Yuriy. 
700 1 |a Kueng, Lorenz. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2012/199 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2012/199/001.2012.issue-199-en.xml  |z IMF e-Library