Finance, Growth and Inequality
Boris Cournède and
Oliver Denk | 31 March 2016
Fiscal,
Monetary,
Blog | Tags:
Financial Markets,
Inequality
Finance is the lifeblood of modern economies, but too much of the wrong type of finance can hamper economic prosperity and social cohesion. We have taken a holistic approach to study the consequences of finance for the inclusiveness of growth, in the spirit of the
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Monetary Policy According to HANK
Greg Kaplan,
Benjamin Moll and
Giovanni L. Violante | 10 March 2016
Monetary,
Working Papers | Tags:
Inequality,
Interest Rates
We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to consume because of two key features: multiple assets with different degrees of liquidity
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Trade and Employment. An Overview
Johannes Schwarzer | 29 February 2016
Trade,
Discussion Notes | Tags:
Employment
The bulk of economic research on the impacts of trade has for a long time neglected aggregate effects on jobs. While research grants an important role of trade for employment, empirical studies often struggle to attribute employment outcomes to trade policies in the long run.
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Tax Expenditures Deserve Far More Scrutiny
Adam Corlett | 30 December 2015
Fiscal,
Blog | Tags:
Tax Expenditures,
UK
Last month, the UK government presented its Spending Review, setting out departmental budgets for the next four years. There were protections for some departments and large cuts (though smaller than expected) for others. Coming after years of previous cuts, many departmental budgets by 2019 will
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