Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/206653
Authors: 
Israel, Karl-Friedrich
Latsos, Sophia
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 163
Abstract: 
This paper analyzes the impact of conventional and unconventional monetary policy on income inequality in Japan, using hitherto unexplored data from the Japan Household Panel Survey. Empirical evidence shows that expansionary monetary policy in Japan has contributed to diminishing the gender pay gap, but also to increasing the education pay gap. These effects may have materialized via the aggregate demand channel and the labor productivity channel. In contrast, expansionary monetary policy has had no significant impact on the development of the age pay gap.
Subjects: 
income inequality
Japan
monetary policy
low interest rate policy
unconventional monetary policy
monetary easing
JEL: 
D31
D63
E52
E58
Document Type: 
Working Paper

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