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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... -
In search of an appropriate lower bound. The zero lower bound vs. the positiv...
Using a standard New Keynesian model, we show that moderate side effects of zero lower bound (ZLB) policy suffice for positive lower bound (PLB) policy to pay off in terms of...
