Title

A monetáris politika hatása a jövedelmi egyenlőtlenségekre.

Authors

VIVIEN, CZECZELI

Abstract

The issue of inequalities has gained importance in recent decades. Effects and inequalities of distribution are associated primarily with globalization and fiscal policy developments, but the issue is also affected by many side effects of the exceptionally loose monetary policy of the last decade. Having identifying the mechanisms and channels between monetary policy and inequality, the author focuses on empirical analyses. The research seeks to reveal the direction and extent of the impact of certain monetary-policy variables on inequality as measured by the Gini indicator. Empirically, the paper is based on a panel GMM model. Based on its results, despite the subdued effects, it has been confirmed that low, stable inflation-targeted monetary policy and a growth of GDP per capita reduces inequality, which is deepened by an increase in the unemployment rate.

Subjects

FISCAL policy; MONETARY policy; UNEMPLOYMENT statistics; PER capita; EQUALITY

Publication

Economic Review / Kozgazdasagi Szemle, 2021, Vol 68, p282

ISSN

0023-4346

Publication type

Academic Journal

DOI

10.18414/KSZ.2021.3.282