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How does monetary policy affect income and wealth inequality? Evidence from q...
This paper evaluates the impact of quantitative easing on income and wealth of individual euro area households. We first estimate the aggregate effects of a QE shock, identified... -
Did marginal propensities to consume change with the housing boom and bust? (...
To improve estimates of household consumption behavior, we extend a widely-used model by allowing for dynamic consumption elasticities with respect to transitory income shocks....
