Dealing with Rising Inequality
Is the Fed Up for the Task, or Will Everyone Get Fed Up
Bibliographic Data
| ID | 12229016 |
|---|---|
| Authors | Steven Pressman (0009-0000-0398-8024, Monmouth University, corresponding author) |
| Year | 2024 |
| Volume | 36 |
| Issue | 3 |
| Pages | 974-993 |
| Publication date | 2024-03-08 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538259.2024.2306523 |
| OpenAlex | W4392598772 |
| Language | EN |
| References cited | 68 |
Recently, considerable research effort has been devoted to studying the impact of monetary policy on inequality. This paper summarizes the literature on the causes of rising inequality and looks at the empirical work on interest rates and inequality. It argues that growing empirical evidence concerning the impact of monetary policy on inequality is mixed and that the conflicting results concerning monetary policy and inequality involve, to a large extent, how one measures inequality. Overall, it seems that loose monetary policy increases incomes of those at the bottom of the distribution but reduces their income relative to those at the top of the distribution. The paper also examines some post-Keynesian monetary policy rules to deal with inequality and finds them wanting in many respects. Going further, the paper argues that monetary policy is too a blunt instrument for reducing inequality and that reducing inequality needs to be the job fiscal policy, which is better suited to dealing with this problem and which has the political authority to deal with distributional problems
Economics · Inequality · Macroeconomics · Management · Task (project management · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Income, Poverty, and Inequality · Mathematics
The general theory of employment, interest, and money
Capital in the Twenty-First Century
Inequality and Instability
Technological Revolutions
Discretion versus policy rules in practice
Economic Inequality in Preindustrial Times
North-South Trade, Employment and Inequality
A Theory of Justice
Anarchy, State and Utopia
How does monetary policy affect income and wealth inequality? Evidence from quantitative easing in the euro area
The Race between Education and Technology
Some Cambridge Controversies in the Theory of Capital
On the Theory of Economic Policy
Globalization and U.S. Wages
Monetary Policy and Personal Income Distribution
Macroeconomic Policy Mix, Employment and Inflation in a Post-Keynesian Alternative to the New Consensus Model
The New Consensus and Post-Keynesian Interest Rate Policy
The New Consensus on Monetary Policy and its Post-Keynesian Critique
A Consensus on Taxing the Rich? Comparing Mainstream Economics, Piketty and Post-Keynesian Economics
Income Distribution, Rentiers, and Their Role in a Capitalist Economy
The Political Economy of Interest-Rate Setting, Inflation, and Income Distribution
Structural Change and Economic Growth
Consumer Debt and the Measurement of Poverty and Inequality in the US∗
American Democracy in an Age of Rising Inequality
Origins and Persistence of Economic Inequality
Determinants of Relative Poverty in Advanced Capitalist Democracies
Income Inequality and Trade
Growing Economic Inequality and Its (Partially) Political Roots
Globalization and the Great U-Turn
| Citation velocity | historical |
|---|---|
| Highly cited | No |