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dc.contributor.authorMartín Fuentes, Natalia
dc.contributor.authorPerez-Moreno, Salvador Jesus 
dc.contributor.authorBarcena-Martin, Elena Maria 
dc.date.accessioned2019-06-10T06:56:11Z
dc.date.available2019-06-10T06:56:11Z
dc.date.created2019-06
dc.date.issued2019-06-10
dc.identifier.urihttps://hdl.handle.net/10630/17784
dc.description.abstractThis work provides evidence on the potential effects of monetary policy on the income class structure via stimulating economic activity and employment in the Eurozone countries over the period 2007Q3-2016Q1. Based on European Union Statistics on Income and Living Conditions (EU-SILC) data, we compute the size of income classes (lower, lower-middle, upper-middle, and upper) for the stats that originated the Economic and Monetary Union (EMU-11) and analyse the impact of monetary policy impulses under a Bayesian Vector Autoregressive approach. We focus on the earnings heterogeneity and the income composition channel and find that a monetary easing shock involving a decrease short-term nominal interest rate has diverse effects on the different income classes, which seems to have led to a more equal income distribution. As theoretically argued by these monetary policy transmission mechanisms, our results confirm the GDP growth and the decrease in unemployment caused by the monetary policies implemented by the European Central Bank since the onset of the financial crisis have had a positive effect for those households located at the bottom of the income-class structure as well as for the middle class.en_US
dc.description.sponsorshipCampus de Excelencia Internacional Andalucía Techen_US
dc.language.isoengen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectPolítica monetaria - Paises de la Unión Europea - 21en_US
dc.subjectDesigualdad social - Paises de la Unión Europeaen_US
dc.subject.otherEurozonaen_US
dc.subject.otherPolítica monetariaen_US
dc.subject.otherClase mediaen_US
dc.subject.otherDesigualdad de rentaen_US
dc.subject.otherEstructura de clasesen_US
dc.subject.otherBayesian VARen_US
dc.titleHow does monetary policy affect the income class structure? Evidence from the Eurozone.en_US
dc.typeinfo:eu-repo/semantics/workingPaperen_US
dc.centroFacultad de Ciencias Económicas y Empresarialesen_US
dc.relation.eventtitleXIV Jornadas Internacionales de Política Económicaen_US
dc.relation.eventplaceBarcelona (Málaga)en_US
dc.relation.eventdate05/2019en_US
dc.rights.ccAttribution-NonCommercial-NoDerivatives 4.0 Internacional*


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Attribution-NonCommercial-NoDerivatives 4.0 Internacional
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