Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets

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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...

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Detalles Bibliográficos
Autor: Villarreal, Francisco Gabriel
Formato: artículo
Fecha de Publicación:2022
Institución:Pontificia Universidad Católica del Perú
Repositorio:PUCP-Institucional
Lenguaje:inglés
OAI Identifier:oai:repositorio.pucp.edu.pe:20.500.14657/193396
Enlace del recurso:https://revistas.pucp.edu.pe/index.php/economia/article/view/23929/24864
https://doi.org/10.18800/economia.202202.004
Nivel de acceso:acceso abierto
Materia:Heterogeneous Agents
Incomplete Markets
Mexico
https://purl.org/pe-repo/ocde/ford#5.02.01
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spelling Villarreal, Francisco Gabriel2023-05-11T13:28:59Z2023-05-11T13:50:32Z2023-05-11T13:28:59Z2023-05-11T13:50:32Z2022-12-30https://revistas.pucp.edu.pe/index.php/economia/article/view/23929/24864https://doi.org/10.18800/economia.202202.004Motivated 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.application/pdfengPontificia Universidad Católica del PerúPEurn:issn:2304-4306urn:issn:0254-4415info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by/4.0/Economía; Volume 45 Issue 90 (2022): Economic Inequality and Redistributive Policiesreponame:PUCP-Institucionalinstname:Pontificia Universidad Católica del Perúinstacron:PUCPHeterogeneous AgentsIncomplete MarketsMexicohttps://purl.org/pe-repo/ocde/ford#5.02.01Monetary Policy and Inequality under Household Heterogeneityand Incomplete Marketsinfo:eu-repo/semantics/articleArtículo20.500.14657/193396oai:repositorio.pucp.edu.pe:20.500.14657/1933962025-03-21 15:33:13.904https://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessmetadata.onlyhttps://repositorio.pucp.edu.peRepositorio Institucional de la PUCPrepositorio@pucp.pe
dc.title.en_US.fl_str_mv Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
title Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
spellingShingle Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
Villarreal, Francisco Gabriel
Heterogeneous Agents
Incomplete Markets
Mexico
https://purl.org/pe-repo/ocde/ford#5.02.01
title_short Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
title_full Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
title_fullStr Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
title_full_unstemmed Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
title_sort Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
author Villarreal, Francisco Gabriel
author_facet Villarreal, Francisco Gabriel
author_role author
dc.contributor.author.fl_str_mv Villarreal, Francisco Gabriel
dc.subject.en_US.fl_str_mv Heterogeneous Agents
Incomplete Markets
Mexico
topic Heterogeneous Agents
Incomplete Markets
Mexico
https://purl.org/pe-repo/ocde/ford#5.02.01
dc.subject.ocde.none.fl_str_mv https://purl.org/pe-repo/ocde/ford#5.02.01
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.accessioned.none.fl_str_mv 2023-05-11T13:28:59Z
2023-05-11T13:50:32Z
dc.date.available.none.fl_str_mv 2023-05-11T13:28:59Z
2023-05-11T13:50:32Z
dc.date.issued.fl_str_mv 2022-12-30
dc.type.none.fl_str_mv info:eu-repo/semantics/article
dc.type.other.none.fl_str_mv Artículo
format article
dc.identifier.uri.none.fl_str_mv https://revistas.pucp.edu.pe/index.php/economia/article/view/23929/24864
dc.identifier.doi.none.fl_str_mv https://doi.org/10.18800/economia.202202.004
url https://revistas.pucp.edu.pe/index.php/economia/article/view/23929/24864
https://doi.org/10.18800/economia.202202.004
dc.language.iso.none.fl_str_mv eng
language eng
dc.relation.ispartof.none.fl_str_mv urn:issn:2304-4306
urn:issn:0254-4415
dc.rights.es_ES.fl_str_mv info:eu-repo/semantics/openAccess
dc.rights.uri.*.fl_str_mv https://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by/4.0/
dc.format.none.fl_str_mv application/pdf
dc.publisher.es_ES.fl_str_mv Pontificia Universidad Católica del Perú
dc.publisher.country.none.fl_str_mv PE
dc.source.es_ES.fl_str_mv Economía; Volume 45 Issue 90 (2022): Economic Inequality and Redistributive Policies
dc.source.none.fl_str_mv reponame:PUCP-Institucional
instname:Pontificia Universidad Católica del Perú
instacron:PUCP
instname_str Pontificia Universidad Católica del Perú
instacron_str PUCP
institution PUCP
reponame_str PUCP-Institucional
collection PUCP-Institucional
repository.name.fl_str_mv Repositorio Institucional de la PUCP
repository.mail.fl_str_mv repositorio@pucp.pe
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score 13.97985
Monetary Policy and Inequality under Household Heterogeneityand Incomplete Markets
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