Impact of Monetary Policy on Economic Inequality

These effects are found to be temporary and to work through two channels: First, at the consumer level, intertemporal substitution effects differ even under an identical policy rule of all agents due to individual skill and capital endowments.

Se constata ca aceste efecte sunt temporare si functioneaza prin doua canale: In primul rand, la nivel de consumator, efectele de substitutie intertemporala difera chiar si sub o regula de politica identica a tuturor agentilor datorita abilitatilor individuale si a dotarilor de capital.