Should Central Banks Have an Inequality Objective? Should central banks care about inequality? To address this question, we extend a standard model of time inconsistency in monetary policy to allow for heterogeneity. As in the standard analysis, lack of policy commitment .. more NBER (2022-11-21) |
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The Macroeconomic Implications of CBDC: A Review of the Literature This paper provides an overview of the literature examining how the introduction of a CBDC would affect the banking sector, financial stability, and the implementation and transmission of monetary policy in a developed e .. more FRB (2022-11-17) |
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Population aging and bank risk-taking What are the implications of an aging population for financial stability? To examine this question, we exploit geographic variation in aging across U.S. counties. We establish that banks with higher exposure to aging cou .. more BIS (2022-11-15) |