دانلود مقاله ISI انگلیسی شماره 92743
کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
92743 2017 13 صفحه PDF سفارش دهید 9480 کلمه
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
The distributive effect of monetary policy: The top one percent makes the difference
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Economic Modelling, Volume 65, September 2017, Pages 106-118

پیش نمایش مقاله
پیش نمایش مقاله

چکیده انگلیسی

The paper evaluates the distributional effect of monetary policy. The empirical analysis is implemented for the USA, where the dynamics in income inequality is mainly driven by the variation in the top one percent of the income distribution. The paper uses the inequality measures that represent the whole income distribution. The distributive effect of monetary policy is evaluated in the cases of different frequency data. To identify a monetary policy shock, the paper applies the contemporaneous and the long run identification methods. In particular, a cointegration relation is determined among the considered variables and the vector error correction methodology is used for the identification. The obtained results indicate that contractionary monetary policy decreases income inequality. These results can have important implications for the design of policies to reduce income inequality by giving more weight to monetary policy.

خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.