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Full Description
This book brings together a number of well-known post-Keynesian scholars who discuss the impact of monetary policy on both personal and functional distribution of income and even the gendered effect of monetary policy.
The impact of monetary policy (changes in interest rates) on income distribution is increasingly being recognized as a legitimate channel of monetary policy transmission. The study of this new channel - once the purview of post-Keynesian theory - is an important step in understanding the complicated and myriad effects of central bank policy. The chapters in this book raise a number of other questions about monetary policy that are still underdeveloped in the economic literature. This book is essential reading for students, scholars and policy makers interested in economic policy, monetary theory, income distribution and post-Keynesian economics.
The chapters in this book were originally published in the Review of Political Economy.
Contents
Introduction: Monetary Policy and Income Distribution 1. Monetary Policy and Income Distribution: The Post-Keynesian and Sraffian Perspectives 2. The Distributive Monetary Analysis of a (Un)sustainable Economy 3. Foreign Price Shocks and Inflation Targeting: Effects on Income and Inflation Inequality 4. Dealing with Rising Inequality: Is the Fed Up for the Task, or Will Everyone Get Fed Up? 5. Monetary Policy and the Gender and Racial Employment Dynamics in Brazil 6. Monetary Policy and Income Distribution in a Multisectoral AB-SFC Model 7. Are Firm Markups Boosting Inflation? A Post-Keynesian Institutionalist Approach to Markup Inflation in Select Industrialized Countries
