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Monetary policy and the redistribution of net worth in the U.S

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Monetary policy and the redistribution of net worth in the U.S

dc.contributor.author	Gómez Fernández, Nerea
dc.contributor.author	Albert Moreno, Juan Francisco
dc.date.accessioned	2023-05-15T07:58:32Z
dc.date.available	2023-05-16T04:45:05Z
dc.date.issued	2022	es_ES
dc.identifier.citation	Albert, Juan Francisco, Gómez Fernández, Nerea. Monetary policy and the redistribution of net worth in the U.S Journal of Economic Politicy Reform 2022, VOL. 25, NO. 4, 420–434	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/86588
dc.description.abstract	This paper aims to study the distributive effects of monetary policy on wealth inequality in the US. Combining macro and micro data, we find that wealth inequality increases after an expansionary monetary policy shock, especially in the long run. Specifically, we find that an expansionary monetary policy shock substantially increases the net worth of the richest and the poorest households, while the middle class tends to benefit the least. A remarkable policy implication of our work is that, considering the post-pan-demic situation, forthcoming monetary policy should be designed to avoid these unwanted effects on wealth inequality.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Routledge	es_ES
dc.subject	wealth inequality	es_ES
dc.subject	proxy SVAR	es_ES
dc.subject	household surve	es_ES
dc.subject	monetary policy	es_ES
dc.title	Monetary policy and the redistribution of net worth in the U.S	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONOMICAS	es_ES
dc.identifier.doi	10.1080/17487870.2021.1895778	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	AO	es_ES
dc.rights.accessRights	open access	es_ES