Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

Name: Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty
Brand: Springer Nature Switzerland AG
SKU: 9783030198053
Price: 28764 HUF
Availability: InStock

Szerző: Eliphas Ndou

Nyelv:

Kötés: Puha kötésű

Kiadó: Springer Nature Switzerland AG

Elérhetőség: Beszállítói készleten

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This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty i...

Információk a könyvről

Szerző

Eliphas Ndou

Nyelv

Angol

Kötés

Könyv - Puha kötésű

Kiadva

2020

oldal

507

EAN

9783030198053

ISBN

3030198057

Enbook ID

33114545

Kiadó

Springer Nature Switzerland AG

Súly

709

Méretek

148 x 210 x 30

Teljes leírás

This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies' cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies' cash holdings. Increased companies' cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.

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Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

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