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Výsledky projektu Heterogenita domácností, banky a distribuční účinky měnové politiky

Výsledky

Typ výsledku Autor celku Název celku (Celkem 1 zázn.)
Maghakyan, Sargis, The results show that imperfect competition in the banking sector leads to a smaller response of HtM households’ consumption to contractionary monetary policy, thus reducing consumption inequality. However, banking sector imperfections generate more wealth inequality for a given monetary shock and smaller income inequality. In addition, financial frictions dampen the impact of the shock on the aggregate output through general equilibrium effects. Furthermore, I find that tighter macroprudential policies and higher market concentration of banks strengthen these effects when banks are imperfectly competitive, while higher precautionary motives relax them. [Jiný výsledek]

Typ výsledku

Autor celku

Název celku

(Celkem 1 zázn.)

Maghakyan, Sargis, The results show that imperfect competition in the banking sector leads to a smaller response of HtM households’ consumption to contractionary monetary policy, thus reducing consumption inequality. However, banking sector imperfections generate more wealth inequality for a given monetary shock and smaller income inequality. In addition, financial frictions dampen the impact of the shock on the aggregate output through general equilibrium effects. Furthermore, I find that tighter macroprudential policies and higher market concentration of banks strengthen these effects when banks are imperfectly competitive, while higher precautionary motives relax them. [Jiný výsledek]

Grantová agentura UK

Výsledky projektu Heterogenita domácností, banky a distribuční účinky měnové politiky

Výsledky