Monetary policy and inequality under household heterogeneity and incomplete markets
Descripción del Articulo
Motivated by the empirical evidence of the effects of unanticipated nominal interest rate increases on the evolution of household inequality in Mexico, which highlight the importance of insurance mechanisms to deal with idiosyncratic risks, the paper uses a Heterogeneous Agent New Keynesian model to...
| Autor: | |
|---|---|
| Formato: | artículo |
| Fecha de Publicación: | 2022 |
| Institución: | Pontificia Universidad Católica del Perú |
| Repositorio: | Revistas - Pontificia Universidad Católica del Perú |
| Lenguaje: | inglés |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/23929 |
| Enlace del recurso: | http://revistas.pucp.edu.pe/index.php/economia/article/view/23929 |
| Nivel de acceso: | acceso abierto |
| Materia: | Heterogeneous Agents Incomplete Markets Mexico |
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Monetary policy and inequality under household heterogeneity and incomplete marketsVillarreal, Francisco GabrielHeterogeneous AgentsIncomplete MarketsMexicoMotivated by the empirical evidence of the effects of unanticipated nominal interest rate increases on the evolution of household inequality in Mexico, which highlight the importance of insurance mechanisms to deal with idiosyncratic risks, the paper uses a Heterogeneous Agent New Keynesian model to analyze the relationship between monetary policy and household inequality. The model is able to capture the main features that characterise both the business cycle dynamics, as well as the distribution of income and wealth. Results indicate that heterogeneity affects the transmission of monetary policy, and that the design of monetary policy has important distributive effects.Pontificia Universidad Católica del Perú2022-12-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://revistas.pucp.edu.pe/index.php/economia/article/view/23929Economia; Vol. 45 No. 90 (2022): Economic Inequality and Redistributive Policies; 74-110Economía; Vol. 45 Núm. 90 (2022): Economic Inequality and Redistributive Policies; 74-1102304-43060254-4415reponame:Revistas - Pontificia Universidad Católica del Perúinstname:Pontificia Universidad Católica del Perúinstacron:PUCPenghttp://revistas.pucp.edu.pe/index.php/economia/article/view/23929/24864Derechos de autor 2022 Francisco Gabriel Villarrealhttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessoai:ojs.pkp.sfu.ca:article/239292023-01-24T13:36:53Z |
| dc.title.none.fl_str_mv |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| title |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| spellingShingle |
Monetary policy and inequality under household heterogeneity and incomplete markets Villarreal, Francisco Gabriel Heterogeneous Agents Incomplete Markets Mexico |
| title_short |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| title_full |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| title_fullStr |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| title_full_unstemmed |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| title_sort |
Monetary policy and inequality under household heterogeneity and incomplete markets |
| dc.creator.none.fl_str_mv |
Villarreal, Francisco Gabriel |
| author |
Villarreal, Francisco Gabriel |
| author_facet |
Villarreal, Francisco Gabriel |
| author_role |
author |
| dc.subject.none.fl_str_mv |
Heterogeneous Agents Incomplete Markets Mexico |
| topic |
Heterogeneous Agents Incomplete Markets Mexico |
| description |
Motivated by the empirical evidence of the effects of unanticipated nominal interest rate increases on the evolution of household inequality in Mexico, which highlight the importance of insurance mechanisms to deal with idiosyncratic risks, the paper uses a Heterogeneous Agent New Keynesian model to analyze the relationship between monetary policy and household inequality. The model is able to capture the main features that characterise both the business cycle dynamics, as well as the distribution of income and wealth. Results indicate that heterogeneity affects the transmission of monetary policy, and that the design of monetary policy has important distributive effects. |
| publishDate |
2022 |
| dc.date.none.fl_str_mv |
2022-12-30 |
| dc.type.none.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
| format |
article |
| status_str |
publishedVersion |
| dc.identifier.none.fl_str_mv |
http://revistas.pucp.edu.pe/index.php/economia/article/view/23929 |
| url |
http://revistas.pucp.edu.pe/index.php/economia/article/view/23929 |
| dc.language.none.fl_str_mv |
eng |
| language |
eng |
| dc.relation.none.fl_str_mv |
http://revistas.pucp.edu.pe/index.php/economia/article/view/23929/24864 |
| dc.rights.none.fl_str_mv |
Derechos de autor 2022 Francisco Gabriel Villarreal https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
| rights_invalid_str_mv |
Derechos de autor 2022 Francisco Gabriel Villarreal https://creativecommons.org/licenses/by/4.0 |
| eu_rights_str_mv |
openAccess |
| dc.format.none.fl_str_mv |
application/pdf |
| dc.publisher.none.fl_str_mv |
Pontificia Universidad Católica del Perú |
| publisher.none.fl_str_mv |
Pontificia Universidad Católica del Perú |
| dc.source.none.fl_str_mv |
Economia; Vol. 45 No. 90 (2022): Economic Inequality and Redistributive Policies; 74-110 Economía; Vol. 45 Núm. 90 (2022): Economic Inequality and Redistributive Policies; 74-110 2304-4306 0254-4415 reponame:Revistas - Pontificia Universidad Católica del Perú instname:Pontificia Universidad Católica del Perú instacron:PUCP |
| instname_str |
Pontificia Universidad Católica del Perú |
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PUCP |
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PUCP |
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Revistas - Pontificia Universidad Católica del Perú |
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Revistas - Pontificia Universidad Católica del Perú |
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| repository.mail.fl_str_mv |
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| _version_ |
1852317494073622528 |
| score |
13.121117 |
Nota importante:
La información contenida en este registro es de entera responsabilidad de la institución que gestiona el repositorio institucional donde esta contenido este documento o set de datos. El CONCYTEC no se hace responsable por los contenidos (publicaciones y/o datos) accesibles a través del Repositorio Nacional Digital de Ciencia, Tecnología e Innovación de Acceso Abierto (ALICIA).
La información contenida en este registro es de entera responsabilidad de la institución que gestiona el repositorio institucional donde esta contenido este documento o set de datos. El CONCYTEC no se hace responsable por los contenidos (publicaciones y/o datos) accesibles a través del Repositorio Nacional Digital de Ciencia, Tecnología e Innovación de Acceso Abierto (ALICIA).
