The DOI matches its Crossref record; 87 of the 87 references it cites were found in a registry or an index.
Monetary Policy and the Redistribution Channel
Abstract
This paper evaluates the role of redistribution in the transmission mechanism of monetary policy to consumption. Three channels affect aggregate spending when winners and losers have different marginal propensities to consume: an earnings heterogeneity channel from unequal income gains, a Fisher channel from unexpected inflation, and an interest rate exposure channel from real interest rate changes. Sufficient statistics from Italian and US data suggest that all three channels are likely to amplify the effects of monetary policy. (JEL E21, E31, E43, E52)
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Cites
(2012) · American Economic Review · doi:10.1257/aer.102.7.i · Cited by 6,810
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, L. J., Eichenbaum, M., & Evans, C. L. (2005) · Journal of Political Economy · doi:10.1086/426038 · Cited by 6,238
Optimum consumption and portfolio rules in a continuous-time model
Merton, R. C. (1971) · Journal of Economic Theory · doi:10.1016/0022-0531(71)90038-x · Cited by 5,958
INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY
Woodford, M., & WALSH, C. E. (2005) · Macroeconomic Dynamics · doi:10.1017/s1365100505040253 · Cited by 5,508
Inside the black box: the credit channel of monetary policy transmission
Bernanke, B. S., & Gertler, M. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.27 · Cited by 4,211
Chapter 21 The financial accelerator in a quantitative business cycle framework
(1999) · Handbook of Macroeconomics · doi:10.1016/s1574-0048(99)10034-x · Cited by 3,539
House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle
Iacoviello, M. (2005) · American Economic Review · doi:10.1257/0002828054201477 · Cited by 2,476
The Debt-Deflation Theory of Great Depressions
Fisher, I. (1933) · Econometrica · doi:10.2307/1907327 · Cited by 2,344
Income and Wealth Heterogeneity in the Macroeconomy
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Investment, Capacity Utilization and the Real Business Cycle
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Cited by
Gomes, F., Haliassos, M., & Ramadorai, T. (2021) · Journal of Economic Literature · doi:10.1257/jel.20201461 · Cited by 396
Reporting guidelines for meta-analysis in economics
Havránek, T., Stanley, T. D., Doucouliagos, H., Bom, P., Geyer‐Klingeberg, J., Iwasaki, I., Reed, W. R., Rost, K., & van Aert, R. C. M. (2020) · Journal of Economic Surveys · doi:10.1111/joes.12363 · Cited by 271
Sources of Inaction in Household Finance: Evidence from the Danish Mortgage Market
Andersen, S., Campbell, J. Y., Nielsen, K. M., & Ramadorai, T. (2020) · American Economic Review · doi:10.1257/aer.20180865 · Cited by 262
The Marginal Propensity to Consume in Heterogeneous Agent Models
Kaplan, G., & Violante, G. L. (2022) · Annual Review of Economics · doi:10.1146/annurev-economics-080217-053444 · Cited by 116
A Simple Mapping from MPCs to MPXs
Laibson, D. I., Maxted, P., & Moll, B. (2022) · SSRN Electronic Journal · doi:10.2139/ssrn.4010519 · Cited by 32
Metadata
- Authors
- Auclert, A.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2019-06-01
- Volume
- 109
- Issue
- 6
- Pages
- 2333-2367
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2185580901
- Cited by
- 773
- References
- 87
- FWCI
- 188.37
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
