This paper reviews recent research on the relationship between central bank policies and
inequality. A new paradigm which integrates sticky‐prices, incomplete markets, and …

Macroeconomics is evolving from the study of aggregate dynamics to the study of the
dynamics of the entire equilibrium distribution of allocations across individual economic …

This study examines the role of energy security in poverty reduction in the 12 poorest Asian
economies from 2000 to 2019. We postulated an energy security index using principal …

This paper evaluates the role of redistribution in the transmission mechanism of monetary
policy to consumption. Three channels affect aggregate spending when winners and losers …

We study the effects of monetary policy shocks on—and their historical contribution to—
consumption and income inequality in the United States since 1980 as measured by the …

Many central banks are contemplating whether to issue a central bank digital currency
(CBDC). A CBDC has certain potential benefits, including the possibility that it can bear …

A wide body of empirical evidence finds that approximately 25 percent of fiscal stimulus
payments (eg, tax rebates) are spent on nondurable household consumption in the quarter …

This study quantitatively assesses the effects of inflation through changes in the value of
nominal assets. It documents nominal asset positions in the United States across sectors …

Abstract We build a New Keynesian business-cycle model with rich household
heterogeneity. A central feature is that matching frictions render labor-market risk …

Cross-country evidence on inflation and income inequality suggests that they are positively
related. This article explores the hypothesis that this correlation is the outcome of a …