Monetary policy and inequality
We ask three questions about the connection between monetary policy and inequality. First,
does monetary policy affect inequality? While different households respond to changes in …
does monetary policy affect inequality? While different households respond to changes in …
Optimal monetary policy according to HANK
We study optimal monetary policy in an analytically tractable heterogeneous agent New
Keynesian model with rich cross-sectional heterogeneity. Optimal policy differs from a …
Keynesian model with rich cross-sectional heterogeneity. Optimal policy differs from a …
Redistributive inflation and optimal monetary policy
Y Yang - SSRN Working Paper, 2023 - zora.uzh.ch
Inflation has heterogeneous impacts on households, which then affects optimal monetary
policy design. I study optimal monetary policy rules in a quantitative heterogeneous agent …
policy design. I study optimal monetary policy rules in a quantitative heterogeneous agent …
[PDF][PDF] Should monetary policy care about redistribution? Optimal fiscal and monetary policy with heterogeneous agents
F Le Grand, A Martin-Baillon… - Science Po Working …, 2021 - konstanzseminar.org
We derive optimal monetary and fiscal policies in a heterogeneous-agent economy with
nominal frictions and aggregate shocks, and allowing for a rich set of fiscal tools. We first …
nominal frictions and aggregate shocks, and allowing for a rich set of fiscal tools. We first …
Households' response to the wealth effects of inflation
We study the redistributive effects of inflation combining administrative bank data with an
information provision experiment during an episode of historic inflation. On average …
information provision experiment during an episode of historic inflation. On average …
Pareto improving fiscal and monetary policies: samuelson in the new keynesian model
MA Aguiar, M Amador, C Arellano - 2023 - nber.org
This paper explores the positive and normative consequences of government bond
issuances in a New Keynesian model with heterogeneous agents, focusing on how the …
issuances in a New Keynesian model with heterogeneous agents, focusing on how the …
Should inequality factor into central banks' decisions?
Inequality is increasingly a policy concern. It is well known that fiscal and structural policies
can mitigate inequality. However, less is known about the potential role of monetary policy …
can mitigate inequality. However, less is known about the potential role of monetary policy …
Firm heterogeneity, capital misallocation and optimal monetary policy
This paper analyzes the link between monetary policy and capital misallocation in a New
Keynesian model with heterogeneous firms and financial frictions. In the model, firms with a …
Keynesian model with heterogeneous firms and financial frictions. In the model, firms with a …