The effect of monetary policy shocks on inequality in the Eurozone

IF 3.9 3区经济学 Q1 BUSINESS, FINANCE

North American Journal of Economics and Finance Pub Date : 2026-05-01 Epub Date: 2026-03-11 DOI:10.1016/j.najef.2026.102608

Makram El-Shagi

引用次数: 0

Abstract

In this paper, we assess the impact of monetary policy shocks on the income distribution in the Eurozone after the Global Financial Crisis, i.e., a time of unconventional monetary policy. Unlike previous papers that focus on the pre-crisis era, where monetary policy was primarily conducted through interest rates, expansionary policy typically increases inequality. This can be mitigated by highly developed financial markets and sound institutions that limit rent-seeking.

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货币政策冲击对欧元区不平等的影响

本文评估了全球金融危机后，即非常规货币政策时期，货币政策冲击对欧元区收入分配的影响。与以往关注危机前时代（货币政策主要通过利率来实施）的论文不同，扩张性政策通常会加剧不平等。高度发达的金融市场和限制寻租的健全制度可以缓解这种情况。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

North American Journal of Economics and Finance Multiple-

CiteScore

7.30

自引率

8.30%

发文量

168

期刊介绍： The focus of the North-American Journal of Economics and Finance is on the economics of integration of goods, services, financial markets, at both regional and global levels with the role of economic policy in that process playing an important role. Both theoretical and empirical papers are welcome. Empirical and policy-related papers that rely on data and the experiences of countries outside North America are also welcome. Papers should offer concrete lessons about the ongoing process of globalization, or policy implications about how governments, domestic or international institutions, can improve the coordination of their activities. Empirical analysis should be capable of replication. Authors of accepted papers will be encouraged to supply data and computer programs.