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Distributional Effects of Monetary Policy / Valentina Bonifacio, Luis Brandão-Marques, Balazs Csonto, Chiara Fratto, Philipp Engler, Davide Furceri, Deniz Igan, Rui Mano, Machiko Narita, Murad Omoev, Gurnain Kaur Pasricha, Hélène Poirson.
- Format:
- Book
- Government document
- Author/Creator:
- Bonifacio, Valentina.
- Series:
- IMF Working Papers; Working Paper ; No. 2021/201
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (47 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2021.
- Summary:
- As central banks across the globe have responded to the COVID-19 shock by rounds of extensive monetary loosening, concerns about their inequality impact have grown. But rising inequality has multiple causes and its relationship with monetary policy is complex. This paper highlights the channels through which monetary policy easing affect income and wealth distribution, and presents some quantitative findings about their importance. Key takeaways are: (i) central banks should remain focused on macro stability while continuing to improve public communications about distributional effects of monetary policy, and (ii) supportive fiscal policies and structural reforms can improve macroeconomic and distributional outcomes.
- Notes:
- Description based on print version record.
- ISBN:
- 9781513592725
- 1513592726
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