Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259492 
Year of Publication: 
2022
Series/Report no.: 
ADB Economics Working Paper Series No. 654
Publisher: 
Asian Development Bank (ADB), Manila
Abstract: 
This paper investigates the effects of monetary policy shocks on income and wealth inequalities in the Republic of Korea. Using the detailed Household Income and Expenditure Survey and Korean Labor and Income Panel Study data, we construct measures of income and wealth inequality for the Korean economy. Empirical results show that both domestic and external monetary policy shocks exert significant countercyclical effects on income inequality. For wealth inequality, however, the effects are very different. Whereas domestic monetary policy shocks are insignificant, external policy shocks proxied by fluctuations in net capital flows seem to have significant effects on net wealth inequality.
Subjects: 
monetary policy
income inequality
wealth inequality
external monetary policy shock
emerging market economies
JEL: 
E52
D31
G51
E44
F42
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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