This paper provides new evidence of the effect of monetary policy shocks on income inequality. Using a measure of unanticipated changes in policy rates for a pa

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary

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 gr

We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary

The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 bot