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Income inequality and monetary policy regimes

Author

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  • Miller, Stephen M.
  • Teryoshin, Yevgeniy

Abstract

This paper reconsiders the possible effects of monetary policy on income inequality. Accounting for potential structural breaks in the relationship, we find that this relationship varies across time and reverses following the Volcker disinflation during the Great Moderation.

Suggested Citation

  • Miller, Stephen M. & Teryoshin, Yevgeniy, 2024. "Income inequality and monetary policy regimes," Economics Letters, Elsevier, vol. 243(C).
    • Handle: RePEc:eee:ecolet:v:243:y:2024:i:c:s0165176524003744
    DOI: 10.1016/j.econlet.2024.111890
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    References listed on IDEAS

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    1. Mehmet Balcilar & Shinhye Chang & Rangan Gupta & Stephen M. Miller, 2018. "The relationship between the inflation rate and inequality across U.S. states: a semiparametric approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(5), pages 2413-2425, September.
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    3. Easterly, William & Fischer, Stanley, 2001. "Inflation and the Poor," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 160-178, May.
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    Keywords

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    JEL classification:

    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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