The Effect of Monetary and Fiscal Policy on Inequality

Marco Del Negro, Keshav Dogra and Laura Pilossoph

No 20220106, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: How does accounting for households’ heterogeneity—and in particular inequality in income and wealth—change our approach to macroeconomics? What are the effects of monetary and fiscal policy on inequality, and what did we learn in this regard from the COVID-19 pandemic? What are the implications of inequality for the transmission of monetary policy, and its ability to stabilize the economy? These are some of the questions that were debated at a recent symposium on “Heterogeneity in Macroeconomics: Implications for Policy” organized by the new Applied Macroeconomics and Econometrics Center (AMEC) of the New York Fed on November 12.

Keywords: inequality; monetary policy; fiscal policy (search for similar items in EconPapers)
JEL-codes: E52 H30 (search for similar items in EconPapers)
Date: 2022-01-06
New Economics Papers: this item is included in nep-mac and nep-mon
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