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The redistributive consequences of monetary policy

Author

Listed:
  • Nakajima, Makoto

    (Federal Reserve Bank of Philadelphia)

Abstract

Monetary policy is not intended to benefit one segment of the population at the expense of another by redistributing income and wealth. But as Makoto Nakajima explains, it is probably impossible to avoid such redistributive consequences.

Suggested Citation

  • Nakajima, Makoto, 2015. "The redistributive consequences of monetary policy," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 9-16.
  • Handle: RePEc:fip:fedpbr:00021
    as

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    File URL: http://www.philadelphiafed.org/research-and-data/publications/business-review/2015/q2/brQ215_the_redistributive_consequences_of_monetary_policy.pdf
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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Bancos Centrales y Distribución de Ingreso
      by Marc Hofstetter Gascon in Foco Económico on 2019-11-26 21:00:14

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Areosa, Waldyr Dutra & Areosa, Marta B.M., 2016. "The inequality channel of monetary transmission," Journal of Macroeconomics, Elsevier, vol. 48(C), pages 214-230.
    2. Marta B. M. Areosa & Waldyr D. Areosa & Pierre Monnin, 2016. "How Would Monetary Policy Look Like if John Rawls Had Been Hired as a Chairman of the Fed?," Working Papers Series 447, Central Bank of Brazil, Research Department.
    3. Goodness C. Aye & Matthew W. Clance & Rangan Gupta, 2019. "The effectiveness of monetary and fiscal policy shocks on U.S. inequality: the role of uncertainty," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(1), pages 283-295, January.
    4. Bernd Hayo & Florian Neumeier, 2017. "Explaining Central Bank Trust in an Inflation Targeting Country: The Case of the Reserve Bank of New Zealand," ifo Working Paper Series 236, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    5. repec:eee:ecmode:v:65:y:2017:i:c:p:106-118 is not listed on IDEAS
    6. repec:zbw:ifweej:201862 is not listed on IDEAS
    7. Farhad Taghizadeh-Hesary & Naoyuki Yoshino & Sayoko Shimizu, 2018. "The Impact of Monetary and Tax Policy on Income Inequality in Japan," Working Papers id:12820, eSocialSciences.
    8. Karen Davtyan, 2016. "“The Distributive effects of conventional and unconventional monetary policies”," AQR Working Papers 201606, University of Barcelona, Regional Quantitative Analysis Group, revised Apr 2016.
    9. Chen, Siyan & Desiderio, Saul, 2018. "Computational evidence on the distributive properties of monetary policy," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 12, pages 1-32.
    10. Amaral, Pedro S., 2017. "Monetary Policy and Inequality," Economic Commentary, Federal Reserve Bank of Cleveland, issue January.

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