Central Banking, Monetary Policy and Income Distribution PDF Download

Author: Sylvio Kappes
Publisher: Edward Elgar Publishing
ISBN: 1800371934
Category : Business & Economics
Languages : en
Pages : 302

View

Book Description
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and income distribution. The usual central bank mandate – that of exclusively fighting inflation – is being increasingly questioned by policymakers and academics. Many countries are finding that there is a need for broader mandates that will have an impact on economic activity, unemployment and other economic issues.

Author: Valentina Bonifacio
Publisher: International Monetary Fund
ISBN: 1513588850
Category : Business & Economics
Languages : en
Pages : 47

View

Book Description
As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels through which monetary policy easing affect income and wealth distribution, and presents some quantitative findings about their importance. Key takeaways are: (i) central banks should remain focused on macro stability while continuing to improve public communications about distributional effects of monetary policy, and (ii) supportive fiscal policies and structural reforms can improve macroeconomic and distributional outcomes.

Author: Kappes, Sylvio
Publisher: Edward Elgar Publishing
ISBN: 1839100931
Category : Business & Economics
Languages : en
Pages : 415

View

Book Description
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores challenges surrounding central banking today. It goes beyond the immediate concerns with monetary policy and focuses instead on the concept of central banking more generally.

Author: Vallet, Guillaume
Publisher: Edward Elgar Publishing
ISBN: 180037223X
Category : Business & Economics
Languages : en
Pages : 243

View

Book Description
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large. It focuses on the specific relationship between central banking, monetary policy and social responsibility as central banks wake up to new realities

Author: Davide Furceri
Publisher: International Monetary Fund
ISBN: 1475568355
Category : Business & Economics
Languages : en
Pages : 43

View

Book Description
This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a panel of 32 advanced and emerging market countries over the period 1990-2013, the paper finds that contractionary (expansionary) monetary actions increase (reduce) income inequality. The effect, however, varies over time, depending on the type of the shocks (tightening versus expansionary monetary policy) and the state of the business cycle, and across countries depending on the share of labor income and redistribution policies. In particular, we find that the effect is larger for positive monetary policy shocks, especially during expansions. Looking across countries, we find that the effect is larger in countries with higher labor share of income and smaller redistribution policies. Finally, while an unexpected increase in policy rates increases inequality, changes in policy rates driven by an increase in growth are associated with lower inequality.

Author: Mr.Olivier Coibion
Publisher: International Monetary Fund
ISBN: 1475505493
Category : Business & Economics
Languages : en
Pages : 57

View

Book Description
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.

Author: Gerald Epstein
Publisher: Edward Elgar Publishing
ISBN: 1788978412
Category : Business & Economics
Languages : en
Pages : 576

View

Book Description
Central banks are among the most powerful government economic institutions in the world. This volume explores the economic and political contours of the struggle for influence over the policies of central banks such as the Federal Reserve, and the implications of this struggle for economic performance and the distribution of wealth and power in society.

Author: Vallet, Guillaume
Publisher: Edward Elgar Publishing
ISBN: 1800376405
Category : Business & Economics
Languages : en
Pages : 325

View

Book Description
Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large, focusing on the specific relationship between central banking, monetary policy and the future of money.

Author: Niels-Jakob Harbo Hansen
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

View

Book Description

Author: Nathaniel O. Agola
Publisher: Springer Science & Business Media
ISBN: 3642397336
Category : Technology & Engineering
Languages : en
Pages : 381

View

Book Description
This book reviews the key conceptions and economic theories of poverty, explains poverty-environment nexus, and finally offers innovative socio-economic and scientific geospatial solutions for the 21st Century. The book makes it possible for our readers to understand poverty thorough a concise review of the major theoretical economic frameworks, measures of poverty, and points out the need to understand rural-urban dichotomy of poverty. We find the theories and measures to be less-than perfect and therefore point out the need to treat these measures and theories as convenient tools lacking perfect accuracy and utmost scientific reliability. It follows then that the supposedly knowledgeably crafted poverty reduction and environmental preservation solutions are inherently imperfect. The economic solutions proposed in this book transcend extant humdrum macroeconomic and policy measures targeting poverty and environmental issues. We point to a new paradigm in which private sector and other stakeholders can create new and inclusive markets where value is co-created and shared. Above all, this book offers timely state-of-the-art geospatial solutions targeting the most pressing global problems of water, e.g., the use of the Gravity Recovery and Climate Experiment (GRACE) missions to estimate changes in stored water in the water-poverty-environment nexus, pollution, agriculture and disaster management, where geospatial techniques are applied under strong environmental impact assessment regulatory regimes. This book provides a good summary of economic theories of poverty as well as a vivid depiction of the state of environmental degradation in the world. People often work separately on different issues that are, in fact, closely intertwined. The principle of holism is that the whole is greater than the sum of its parts, and I believe that this joint-venture of two experts on poverty and environment has produced something more than a sum of two separate monographs on the issues. Various points raised in this volume are worth heeding when we think of formulation and implementation of a truly effective post-MDGs development agenda. Yoichi Mine, Professor of Human Security and African Area Study, Graduate School of Global Studies, Doshisha University, Japan