Alisdair Mckay
Biographic Data
| ID | 3714947 |
|---|---|
| NAME | Alisdair Mckay |
| GIVEN NAMES | Alisdair |
| FAMILY NAME | Mckay |
| SIGNATURE | MCKAY A |
| AFFILIATIONS | Alisdair McKay is a Senior Research Economist, Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota. Cambridge, Massachusetts. |
| VERIFIED | No |
| TOTAL WORKS | 2 |
| TOTAL CITATIONS | 3 |
| AUTHOR COUNT | 2 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2017 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 1 |
Monetary Policy and Inequality
We ask three questions about the connection between monetary policy and inequality. First, does monetary policy affect inequality? While different households respond to changes in monetary policy for different reasons, we argue that the overall consumption effects are relatively evenly distributed across households. Second, does household heterogeneity change our understanding of monetary policy transmission? A more careful account of microeconom…
The Discounted Euler Equation: A Note
We present a simple model with income risk and borrowing constraints that yields a ‘discounted Euler equation’. This feature of the model mutes the extent to which news about far future real interest rates (i.e. forward guidance) affects current outcomes. We show that this simple model approximates the outcomes of a rich model with uninsurable income risk and borrowing constraints in response to a forward guidance shock. The model is simple enoug…
Monetary Policy and Inequality
We ask three questions about the connection between monetary policy and inequality. First, does monetary policy affect inequality? While different households respond to changes in monetary policy for different reasons, we argue that the overall consumption effects are relatively evenly distributed across households. Second, does household heterogeneity change our understanding of monetary policy transmission? A more careful account of microeconom…
The Discounted Euler Equation: A Note
We present a simple model with income risk and borrowing constraints that yields a ‘discounted Euler equation’. This feature of the model mutes the extent to which news about far future real interest rates (i.e. forward guidance) affects current outcomes. We show that this simple model approximates the outcomes of a rich model with uninsurable income risk and borrowing constraints in response to a forward guidance shock. The model is simple enoug…
The Discounted Euler Equation: A Note
We present a simple model with income risk and borrowing constraints that yields a ‘discounted Euler equation’. This feature of the model mutes the extent to which news about far future real interest rates (i.e. forward guidance) affects current outcomes. We show that this simple model approximates the outcomes of a rich model with uninsurable income risk and borrowing constraints in response to a forward guidance shock. The model is simple enoug…
Monetary Policy and Inequality
We ask three questions about the connection between monetary policy and inequality. First, does monetary policy affect inequality? While different households respond to changes in monetary policy for different reasons, we argue that the overall consumption effects are relatively evenly distributed across households. Second, does household heterogeneity change our understanding of monetary policy transmission? A more careful account of microeconom…
Economics (2 works) · Macroeconomics (2 works) · Monetary policy (2 works) · Monetary Policy and Economic Impact (2 works) · Aggregate demand (1 works) · Applied Mathematics (1 works) · Applied Mathematics (1 works) · Econometrics (1 works) · Economic theories and models (1 works) · Economic Theory and Policy (1 works)