Monetary Policy and Income Distribution

This book brings together a number of well-known post-Keynesian scholars who discuss the impact of monetary policy on both personal and functional distribution of income and even the gendered effect of monetary policy.

The impact of monetary policy (changes in interest rates) on income distribution is increasingly being recognized as a legitimate channel of monetary policy transmission. The study of this new channel – once the purview of post-Keynesian theory – is an important step in understanding the complicated and myriad effects of central bank policy. The chapters in this book raise a number of other questions about monetary policy that are still underdeveloped in the economic literature. This book is essential reading for students, scholars and policy makers interested in economic policy, monetary theory, income distribution and post-Keynesian economics.

The chapters in this book were originally published in the Review of Political Economy.

Sylvio Kappes is Professor of Macroeconomics at the Federal University of Alagoas, Brazil. His main areas of research are stock-flow consistent models, monetary economics and post-Keynesian Economics. He is co-editor of the Review of Political Economy.

Louis-Philippe Rochon is Full Professor of Economics at Laurentian University, Sudbury, Canada, where he has been teaching since 2004. He is the editor-in-chief of the Review of Political Economy. He is the Founding Editor (now Emeritus) of the Review of Keynesian Economics. He has widely published in post-Keynesian economics, and monetary theory and policy. He has been Visiting Professor in over a dozen universities around the world.

Guillaume Vallet is Full Professor of Economics at the University of Grenoble Alpes, France. His main areas of research are monetary economics (particularly related to the Swiss case), the political economy of gender and the history of economy thought during the Progressive Era.