What are the implications for the aggregate economy of monetary policies ensuring business cycle expansions benefit all segments of the labor markets? We provide a normative assessment, and show that while making monetary policy more inclusive is beneficial for the overall economy, making monetary policy much more inclusive results in sizeable deviations from the first best allocation.
Inclusive Monetary Policy in a Model with Heterogeneous Workers
Federico Ravenna
Membro del Collaboration Group
;
2025-01-01
Abstract
What are the implications for the aggregate economy of monetary policies ensuring business cycle expansions benefit all segments of the labor markets? We provide a normative assessment, and show that while making monetary policy more inclusive is beneficial for the overall economy, making monetary policy much more inclusive results in sizeable deviations from the first best allocation.
File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
CEPR_DP19922.pdf
Accesso aperto
Dimensione
496.51 kB
Formato
Adobe PDF
|
496.51 kB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
