{
  "title": "Should Inequality Factor into Central Banks' Decisions?",
  "publication": "IMF Working Papers, September 25, 2020",
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  "summary": "Inequality is increasingly a concern. Fiscal and structural policies are well-understood mitigators. However, less is known about the potential role of monetary policy.",
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    {
      "heading": "Authors and publication",
      "content": "- By Niels-Jakob H Hansen, Alessandro Lin, Rui Mano  \n- September 25, 2020"
    },
    {
      "heading": "Summary",
      "content": "- Inequality is increasingly a concern. Fiscal and structural policies are well-understood mitigators. However, less is known about the potential role of monetary policy.  \n- This paper investigates how inequality matters for monetary policy within a tractable Two-Agent New Keynesian model that captures important dimensions of inequality.  \n- The authors find some support for making inequality an explicit target for monetary policy, particularly if central banks follow standard Taylor rules."
    },
    {
      "heading": "Methodology",
      "content": "- Model: Two-Agent New Keynesian model designed to capture important dimensions of inequality."
    },
    {
      "heading": "Key findings",
      "content": "- There is some support for incorporating inequality as an explicit target in monetary policy frameworks.  \n- The case for targeting inequality is particularly relevant when central banks operate under standard Taylor rules."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Consideration of inequality in monetary policy design can be justified, especially in settings where central banks follow standard Taylor rules.  \n- Monetary policy could play a complementary role to fiscal and structural policies in addressing inequality."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Consumption, Income, Income inequality, Inflation, Output gap  \n- Keywords: consumption inequality, inequality gap, inflation gap, labor income, optimal monetary policy, WP\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2020/09/25/should-inequality-factor-into-central-banks-decisions-49756"
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    "Authors: Niels-Jakob H Hansen, Alessandro Lin, Rui Mano",
    "Published: September 25, 2020",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513557649.001",
    "By Niels-Jakob H Hansen, Alessandro Lin, Rui Mano",
    "September 25, 2020",
    "Inequality is increasingly a concern. Fiscal and structural policies are well-understood mitigators. However, less is known about the potential role of monetary policy.",
    "This paper investigates how inequality matters for monetary policy within a tractable Two-Agent New Keynesian model that captures important dimensions of inequality.",
    "The authors find some support for making inequality an explicit target for monetary policy, particularly if central banks follow standard Taylor rules.",
    "Model: Two-Agent New Keynesian model designed to capture important dimensions of inequality.",
    "There is some support for incorporating inequality as an explicit target in monetary policy frameworks.",
    "The case for targeting inequality is particularly relevant when central banks operate under standard Taylor rules.",
    "Consideration of inequality in monetary policy design can be justified, especially in settings where central banks follow standard Taylor rules.",
    "Monetary policy could play a complementary role to fiscal and structural policies in addressing inequality.",
    "Subject: Consumption, Income, Income inequality, Inflation, Output gap",
    "Keywords: consumption inequality, inequality gap, inflation gap, labor income, optimal monetary policy, WP",
    "**Working Paper**"
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