This paper reviews recent research on the relationship between central bank policies and
inequality. A new paradigm which integrates sticky‐prices, incomplete markets, and …

The study examines empirical relationships between income inequality and three features of
finance: depth (financial sector size relative to the economy), inclusion (access to and use of …

Macroeconomics in Context lays out the principles of macroeconomics in a manner that is
thorough, up to date, and relevant to students. Like its counterpart, Microeconomics in …

We provide a new channel through which monetary policy has distributional consequences
at business cycle frequencies. We show that an unexpected monetary easing increases …

Abstract Since the Great Financial Crisis, central banks have been facing a triple challenge:
economic, intellectual and institutional. The institutional challenge is that central bank …

The study of economics should not be highly abstract, but closely related to real-world
events. Principles of Economics in Context addresses this challenge, laying out the …

Purpose This study uses the autoregressive distributed lag model (ARDL) econometric
approach to investigate empirically the effects of cryptocurrencies, the gold standard and …

Asia has made significant progress in financial inclusion, but both its across-country and
intra-country disparities are among the highest in the world. The gaps between the rich and …

This paper studies how quantitative easing (QE) affects household welfare across the wealth
distribution. I build a Heterogeneous Agent New Keynesian (HANK) model with household …

This article analyses the relationships between inequality, political pressure, populism and
central bank independence (CBI). If there is financial inequality across citizens, monetary …