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    题名: 貨幣政策對貧富不均度之影響 : 以臺灣為例
    The effect of monetary policy on income inequality: the case of Taiwan
    作者: 范文俞
    Fan, Wen Yu
    贡献者: 黃俞寧
    范文俞
    Fan, Wen Yu
    关键词: 動態隨機一般均衡模型(DSGE)
    貧富不均
    貨幣政策
    Dynamic stochastic general equilibrium (DSGE)
    Income inequality
    Monetary policy
    日期: 2017
    上传时间: 2017-08-28 11:52:31 (UTC+8)
    摘要: 本篇文章的目的為,在一個含有銀行信用管道以及兩種家計單位設定的動態隨機一般均衡模型的架構之中,探討中央銀行實施貨幣政策以及技術面衝擊對於貧富不均度的影響。本篇文章主要依據Kumhof, Rancière and Winant (2015)對於兩種家計單位之設定,參考Benigo and Eggertsson (2016)加入銀行信用管道,並參考Lansing and Markiewicz (2016)將勞動內生化以及刻劃收入來源之不同,因而建構出一個封閉經濟體系,內含兩種不同的家計單位、商品生產部門、銀行信用管道、政府之課稅政策以及中央銀行之貨幣政策。本文發現,貧富不均度在面對中央銀行實施緊縮性貨幣政策以及技術面正向衝擊時會暫時性地擴大,在長期時會回到初始的靜態均衡值。
    The main purpose of this paper is to discuss the effect of monetary policy on income inequality using a micro-based dynamic stochastic general equilibrium model with credit channel and two groups of households. Following Kumhof, Rancière and Winant (2015), households can be divided into two groups; moreover, we follow Benigo and Eggertsson (2016) to add the credit channel, and follow Lansing and Markiewicz (2016) to make households supply labor endogenously and characterize the difference of income source. Therefore, we build up a closed economy model with two groups of households, goods firms, credit channel, the taxation policy implemented by government and monetary policy implemented by central bank. We find that contractionary monetary policy and positive technology shock will temporarily generate a worse income inequality. In the long term, the economy will be back to the initial steady state.
    參考文獻: 黃俞寧,2013,動態隨機一般均衡架構在臺灣貨幣政策制定上之應用,中央銀行季刊35,3-34

    Adam, K. (2011). “Government debt and optimal monetary and fiscal policy.” European Economic Review, 55(1), 57-74.

    Benigno, P., Eggertsson, G., & Romei, F. (2016). “Dynamic Debt Deleveraging and Optimal Monetary Policy” (No. 11180). CEPR Discussion Papers.

    Chu, C., T. Chow, & S-C. Hu (2015). “Top Income Shares in Taiwan 1977-2013.” WTID Working Paper 2015/2.

    Chu, C. C., & Kang, T. Y. (2015). “SOCIAL INEQUALITIES DURING ECONOMIC TRANSFORMATION.” Taiwan Economic Forecast and Policy, 45(2), 1.

    Galí, J. (2015). “Monetary policy, inflation, and the business cycle: an introduction to the new Keynesian framework and its applications.” Princeton University Press.

    García-Peñalosa, C., & Turnovsky, S. J. (2015). “Income inequality, mobility, and the accumulation of capital.” Macroeconomic Dynamics, 19(06), 1332-1357.

    Kumhof, M., & Rancière, R. G. (2010). “Inequality, leverage and crises.” Working Paper 10/268, IMF November 2010.

    Kumhof, M., Rancière, R., & Winant, P. (2015). “Inequality, leverage, and crises.” The American Economic Review, 105(3), 1217-1245.

    Lansing, K. J., & Markiewicz, A. (2016). “Top incomes, rising inequality, and welfare.” The Economic Journal, 26 April 2017.

    Mayer, E., Moyen, S., Stahler, N. (2010), “Government expenditures and unemployment: a DSGE perspective.” Discussion paper/Deutsche Bundesbank/Series 1, Economic studies 18/2010.


    Motta, G. E., & Tirelli, P. (2013). “Limited asset market participation, income inequality and macroeconomic volatility.” University of Milan Bicocca Department of Economics, Management and Statistics Working Paper No. 261

    Ortega E. and N. Rebei. (2006). “The Welfare Implications of Inflation versus Price-Level Targeting in a Two-Sector, Small Open Economy.” Bank of Canada Working Paper No. 2006–12.

    Rancière, R., Throckmorton, M. N. A., Kumhof, M. M., Lebarz, M. C., & Richter, M. A. W. (2012). “Income inequality and current account imbalances” (No. 12-18). International Monetary Fund.

    Ravenna, F., & Vincent, N. (2014). “Inequality and debt in a model with heterogeneous agents.” Economics Letters, 123(2), 177-182.

    Teo, W. L. (2011). “Inventories and optimal monetary policy in a small open economy.” Journal of International Money and Finance, 30(8), 1719-1748.

    Van den Heuvel, S. J. (2008). “The welfare cost of bank capital requirements.” Journal of Monetary Economics, 55(2), 298-320.
    描述: 碩士
    國立政治大學
    經濟學系
    104258011
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0104258011
    数据类型: thesis
    显示于类别:[經濟學系] 學位論文

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