Monetary policy and inequality: conceptual framework and preliminary evidence

Sajid Amin Javed and Aqsa Naveed

Chapter 4 in Islamic Finance in the Digital Age, 2024, pp 53-71 from Edward Elgar Publishing

Abstract: The aim of this study is to sensitize central banking, particularly monetary policy, to its social dimensions by generating a debate on the social implications of various monetary policy interventions. This study develops a conceptual framework for analyzing the social footprint of monetary policy, with a particular focus on inequality. Additionally, it provides preliminary evidence using household data from Pakistan to support the argument that monetary policy impacts inequality. The study concludes by making a case for why central banks in the Gulf need to place an increased focus on inequality.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2024
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