The Distributional Implications of the Crisis and Policy Responses
William White | 8 December 2015
Monetary,
Blog | Tags:
Inequality,
QE The conduct of monetary policy over the last few years is totally unprecedented. Efforts have been made to influence all parts of the term structure of interest rates and credit spreads as well. Policy rates have been reduced essentially to zero. Forward guidance has also
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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Klaus Adam and
Junyi Zhu | 17 September 2015
Monetary,
Working Papers | Tags:
Inequality,
Inflation We document the presence of sizable nominal wealth redistribution effects from unexpected price level movements in the Euro Area (EA), using sectoral accounts and newly available data from the Household Finance and Consumption Survey. The EA as a whole is a net loser of unexpected
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Monetary Policy and the Distribution of Income and Wealth
September 11-12, 2015 Monetary,
Workshops | Tags:
Inequality,
Inflation,
QE There has been intense focus recently on inequality in income and wealth across and within countries. Both developed and developing countries have experienced a marked increase in the gap between high and low income households, as well as an increase in the concentration of income
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Central Banks, Financial Stability and Inequality
Pierre Monnin | 9 March 2015
Monetary,
Blog | Tags:
Central Banks,
Financial Stability,
Inequality When you ask a central banker what her job is, she will most probably answer: “keeping inflation under control!” Indeed, securing price stability constitutes the current raison d’être of most, if not all, central banks around the world. In parallel to this objective, however, many
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Should the ECB Helicopter Adjust Its Dropping Zone?
Pierre Monnin | 4 February 2015
Monetary,
Blog | Tags:
Inequality,
QE “Let us suppose that one day a helicopter flies over this community and drops an additional $1000 in bills from the sky…” This pleasant image conveyed by Milton Friedman’s famous metaphor is taken to new heights by Mario Draghi, who promised to inject €60 billion
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