Unconventional monetary policy and economic inequality

Davtyan, Karen

doi:10.1016/j.econmod.2023.106380

Cited by 4 publications

(1 citation statement)

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“…Yet, the channels should behave very significantly under conventional and unconventional monetary policies. To put in another way, according to Davtyan (2018) conventional and unconventional monetary policies can have a serious effect on these channels. In his study, Nakajima (2015) accumulated these five channels into the "Inflation" and "Income" channels, which are the two fundamental distributive channels of monetary policy.…”

Section: Review Of Literature Theoretical Literaturementioning

confidence: 99%

The Effect of Monetary Policy on Income Inequality: Empirical Evidence from Asian and African Developing Economies

Khan,

Khan

2023

Journal of Central Banking Theory and Practice

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Inequality is a challenging issue for all developing countries across the globe. Evaluating the role of monetary policy in mitigating inequality is imperative for researchers and policy makers. The central objective of the present study is to empirically evaluate the impact of monetary policy on income inequality for ten Asian and African developing economies from 1990–2020. The methods of pooled mean group (PMG)/panel autoregressive distributed lag (ARDL), and fully modified least square (FMOLS) are implemented. The empirical results indicate that money supply has negative, and inflation has a positive and significant influence on income inequality. It has also been found that GDP per capita income and inward foreign direct investment (FDI) have a negative impact on inequality. The findings of the present study recommend that money supply, per capita income, and inward FDI should be enhanced, while inflation must be controlled using coordinated fiscal and monetary policies.

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Section: Review Of Literature Theoretical Literaturementioning

confidence: 99%