Five Facts about the Distributional Income Effects of Monetary Policy

Arbeitspapier

We use Swedish administrative individual-level data to document five facts about the distributional income effects of monetary policy. (i) The effects of monetary policy shocks are U-shaped with respect to the income distribution—i.e., expansionary shocks increase the incomes of high- and low-income individuals relative to middle-income individuals. (ii) The large effects in the bottom are accounted for by the labor-income response and (iii) those in the top by the capital-income response. (iv) The heterogeneity in the labor-income response is due to the earnings heterogeneity channel, whereas (v) that in the capital-income response is due to the income composition channel.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 9062

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Large Data Sets: Modeling and Analysis ; Business Fluctuations; Cycles ; Monetary Policy
• Thema: monetary policy ; income inequality ; heterogeneous agents ; administrative data

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Amberg, Niklas ; Jansson, Thomas ; Klein, Mathias ; Rogantini Picco, Anna
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and Ifo Institute (CESifo)
• (wo): Munich
• (wann): 2021

Weitere Informationen

• Handle: http://hdl.handle.net/10419/235432
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ