The distributional effects of conventional monetary policy and quantitative easing : evidence from an estimated DSGE model / by Stefan Hohberger, Romanos Priftis and Lukas Vogel.: FB3-5/2019-6E-PDF
"This paper compares the distributional effects of conventional monetary policy and quantitative easing (QE) within an estimated open-economy DSGE model of the euro area. The model includes two groups of households: (i) wealthier households, who own financial assets and can smooth consumption over time, and (ii) poorer households, who only receive labor and transfer income and live "hand to mouth." We compare the impact of policy shocks on constructed measures of income and wealth inequality (net disposable income, net asset position, and relative per-capita income). Except for the short term, expansionary conventional policy and QE shocks tend to mitigate income and wealth inequality between the two population groups"--Abstract, page ii.
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| Department/Agency | Bank of Canada. |
|---|---|
| Title | The distributional effects of conventional monetary policy and quantitative easing : evidence from an estimated DSGE model / by Stefan Hohberger, Romanos Priftis and Lukas Vogel. |
| Series title | Bank of Canada staff working paper, 1701-9397 ; 2019-6 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | "January 2019." Includes bibliographical references (pages 24-27). Includes abstract in French. |
| Publishing information | Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2019. ©2019 |
| Author / Contributor | Hohberger, Stefan, author. Priftis, Romanos, author. Vogel, Lukas, 1976- author. |
| Description | 1 online resource (ii, 30 pages) : colour illustrations. |
| Catalogue number |
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| Subject terms | Monetary policy |