Please use this identifier to cite or link to this item: http://hdl.handle.net/2445/98584
Title: The Distributive effects of conventional and unconventional monetary policies
Author: Davtyan, Karen
Keywords: Creixement econòmic
Igualtat
Política fiscal
Política monetària
Economic growth
Equality
Fiscal policy
Monetary policy
Issue Date: 2016
Publisher: Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
Abstract: The paper evaluates the distributional effects of conventional and unconventional monetary policies for the USA. The distributional effects are evaluated for the overall impact on the income distribution, using Gini index. The paper also assesses the effects of conventional and unconventional monetary policies on the different parts of income distribution, employing corresponding percentile ratios. The obtained results show that contractionary conventional monetary policy reduces income inequality while expansionary unconventional monetary policy raises it. In particular, the results indicate that the distributional impact of conventional monetary policy is stronger. Nevertheless, its impact on the lower part of income distribution is not significant while unconventional monetary policy has a significant effect on it. In addition, the variance decomposition analysis reveals that unconventional monetary policy explains the higher share of the variation in Gini index of income inequality.
Note: Reproducció del document publicat a: http://www.ub.edu/irea/working_papers/2016/201606.pdf
It is part of: IREA – Working Papers, 2016, IR16/006
AQR – Working Papers, 2016, AQR 2016/06
URI: http://hdl.handle.net/2445/98584
ISSN: 2014-1254
Appears in Collections:AQR (Grup d’Anàlisi Quantitativa Regional) – Working Papers
Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

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