01857cas a2200277 a 4500 AALejournalIMF012088 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475505498 1018-5941 BD-DhAAL BD-DhAAL Silvia, John. Innocent Bystanders? : Monetary Policy and Inequality in the U.S. / John Silvia, Lorenz Kueng, Olivier Coibion, Yuriy Gorodnichenko. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (57 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy. Mode of access: Internet Coibion, Olivier. Gorodnichenko, Yuriy. Kueng, Lorenz. IMF Working Papers; Working Paper ; No. 2012/199 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/199/001.2012.issue-199-en.xml IMF e-Library