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Table of contents (7 chapters)
Keywords
About this book
The extensive monetary policy of central banks during the Great Recession has re-newed the interest in the relation between (possibly) non-neutral money and wealth and income inequality. In this work, a dynamic general equilibrium model approach is used to study the effects of an inflation rate change on inequality. These effects are found to be temporary and to work through two channels: First, at the consumer level, intertemporal substitution effects differ even under an identical policy rule of all agents due to individual skill and capital endowments. This implies a transitory effect of inflation rate changes on inequality. Second, an indirect effect results from different capital intensities in industrial branches and capital-labour substitution effects. This may be endorsed by varying individual skill levels. The theoretical model‘s implications are tested empirically in a time series analysis on US data.
Authors and Affiliations
About the author
Patricia Dörr is currently a PhD student in economics at Trier University. Her focus lies on survey statistics and therein variance estimation.
Bibliographic Information
Book Title: The Impact of Monetary Policy on Economic Inequality
Authors: Patricia Dörr
Series Title: BestMasters
DOI: https://doi.org/10.1007/978-3-658-24835-2
Publisher: Springer Gabler Wiesbaden
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2018
Softcover ISBN: 978-3-658-24834-5Published: 07 January 2019
eBook ISBN: 978-3-658-24835-2Published: 28 December 2018
Series ISSN: 2625-3577
Series E-ISSN: 2625-3615
Edition Number: 1
Number of Pages: XIII, 70
Number of Illustrations: 1 b/w illustrations
Topics: Economic Theory/Quantitative Economics/Mathematical Methods, Macroeconomics/Monetary Economics//Financial Economics, Economic Policy
Industry Sectors: Finance, Business & Banking