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Innocent bystanders? : monetary policy and inequality in the U.S. /
"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. Furthe...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
[International Monetary Fund],
©2012.
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| Colección: | IMF working paper ;
WP/12/199. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | "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"--Page 1 |
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| Notas: | Title from PDF title page (IMF Web site, viewed August 9, 2012). "Research Department." "August 2012." |
| Descripción Física: | 1 online resource (57 pages) : charts |
| Bibliografía: | Includes bibliographical references (pages 33-35). |
| ISBN: | 1475583842 9781475583847 1475505493 9781475505498 1475563515 9781475563511 |