Title: Monetary Policy and Distribution*
نویسنده
چکیده
A segmented markets model of monetary policy is constructed, in which a novel feature is goods market segmentation, and its relationship to conventional asset market segmentation. The implications of the model for the response of prices, interest rates, consumption, labor supply, and output to monetary policy are determined. As well, optimal monetary policy is studied, as are the costs of inflation. The model features persistent nonneutralities of money, relative price effects of increases in the money supply, persistent liquidity effects, and a negative Fisher effect from a money supply increase. A Friedman rule is in general suboptimal. JEL Classification: E4, E5.
منابع مشابه
How Does Monetary Policy Affect Household Income Distribution?
Over the last decades the research on monetary policy has largely concentrated on the impact of monetary authorities’ decisions on inflation and the fine-tuning of the macroeconomic, so that distributional effects of monetary policy which are non-trivial has been ignored. A view that has become increasingly popular since the financial crisis 2008 is that expansionary monetary policy can exacerb...
متن کاملThe Efects of Monetary Policy on Income Distribution
Among the most important tasks of government economic control of income inequality.. The monetary policy of the government on the equitable distribution of income is very effective. Therefore, in this study, the effect of monetary policy on the distribution of income has using quantile regression. The period studied in this research, the years 1353- 1396.The results show that the hypothesis is ...
متن کاملThe Monetary Policy, Credit Constraint and Spatial Distribution of Economic Activity: A Contribution of New Economic Geography
T his paper investigates the effect of monetary policy on the distribution of economic activity and agglomeration economies within a country. The considered channel for this effectiveness is the availability of credit to firms in various regions and the effects on the labor and consumer welfare. For this purpose, data for manufacturing firms located in 30 different provinces in Iran ...
متن کاملChapter Title: an Optimization-based Econometric Framework for the Evaluation of Monetary Policy Optimization-based Econometric Framework F or T He Evaluation O F Monetary Policy
متن کامل
آثار اقتصادی گسترش کاربرد پول الکترونیکی، با تأکید بر سیاستهای پولی
Extended distribution of digicash has commercial, socio-economic as well as political effects. From the economic viewpoint, the most crucial effect of digicash use extension takes place on money supply, monetary policies and central bank. Because digicash is capable of being replaced by bank notes and the coins, it is possible that digicash gradually takes the place of the central bank money an...
متن کامل