Innocent Bystanders? Monetary policy and inequality

By Olivier Coibion, Y. Gorodnichenko, Lorenz Kueng, John E. Silvia. 2017

568 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/bd3d3eb705e31aa95c637dacdd780b97d2bab1a1

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In Economics and Econometrics

Citations in the corpus

Bias in Local Projections (2020, unknown): “We close our analysis with an empirical illustration of our bias correction using a setup similar to Gorodnichenko and Lee (2019). Using LPs, we estimate the effects of Romer and Romer (2004) monetary policy shocks on output and inflation.”
Forecast Error Variance Decompositions with Local Projections (2019, unknown): “The first shock is the monetary policy (MP) innovation identified as in Romer and Romer (2004) and extended in Coibion et al. (2017). The second shock is the total factor productivity (TFP) change identified as in Fernald (2014).11 The sample autocorrelations and the sample partial autocorrelations ”
CENTRAL BANK POLICIES AND INCOME AND WEALTH INEQUALITY: A SURVEY (2019, unknown): “By raising ﬁnancial asset prices, a fall in the interest rate affects balance sheets of households through differences in the composition of their portfolio of assets (Coibion et al. , 2017; Inui et al. , 2017).”
How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area (2018, methodology): “Instead, directly including the inequality measures in the empirical models (for example, in macro VARs as in Coibion et al., 2017) allows only an indirect and rough assessment of the transmission mechanism of the policy shock to inequality, via the impulse response of variables which are supposed…”
Transmission of Monetary Policy with Heterogeneity in Household Portfolios (2018, background): “Households can be workers (hit > 0) or entrepreneurs 6See Guerrieri and Lorenzoni (2017), Oh and Reis (2012), Gornemann et al.”
Monetary Policy and the Redistribution Channel (2017, unknown): “Coibion et al. (2017) propose an empirical evaluation of the earnings heterogeneity channel by measuring how identified monetary policy shocks affect income inequality in the Consumer Expenditure Survey. The Fisher channel has received a great deal of attention in the literature following the work o”
Microeconomic Heterogeneity and Macroeconomic Shocks (2018, unknown): “The empirical analysis in Coibion et al. (2017) finds some support to the conclusion that contractionary monetary policy has a positive, but small, effect on inequality.”
A Financial Macro-Network Approach to Climate Policy Evaluation (2018, background): “…features (Monasterolo and Raberto, 2018) that allow the representation of real business cycles, the analysis of unconventional monetary policies (Coibion et al., 2017; Saiki and Frost, 2014), a stylized description of a modern money system and endogenous money creation (Jakab and Kumhof, 2014),…”
The effects of quasi-random monetary experiments (2020, background): “Continuing in this vein, Romer and Romer (2004), Cloyne and Hürgten (2016) and Coibion et al. (2017) measure policy surprises by assuming that policymakers rely only on their staff’s forecasts to choose policy. Taking a different approach, Kuttner (2001), Faust, Wright, and Swanson (2004), Gertler a”