Estimating the impact of monetary policy on inequality in China
No 17/2015, BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition
The paper estimates the impact of monetary policy on income inequality in China. The empirical modelling finds that a battery of monetary indicators, including a monetary overhang measure derived from a money demand equation, and the change in the unemployment rate lead to increases in the Gini coefficient. However, only unemployment is statistically significant. The lack of significance of the monetary indicators is robust to alternative specifications with variability in nominal aggregate demand instead of unemployment.
JEL-codes: E52 D31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-cna, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:bof:bofitp:2015_017
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