E3 - Prices, Business Fluctuations, and Cycles

• More Money for Some: The Redistributive Effects of Open Market Operations

  Staff Working Paper 2021-46 Christian Bustamante

  I use a search-theoretic model of money to study how open market operations affect the conduct of monetary policy and what this means for households along the wealth distribution. In the model, households vary in the size and composition of their portfolios, which in turn implies that they may be unevenly affected by open market operations.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Monetary policy, Monetary policy implementation, Monetary policy transmission JEL Code(s): E, E2, E21, E3, E32, E5, E52

• From He-Cession to She-Stimulus? The Labor Market Impact of Fiscal Policy Across Gender

  Staff Working Paper 2021-42 Alica Ida Bonk, Laure Simon

  The effects of fiscal policy shocks on labour market outcomes across gender depend on the type of public expenditure. Women benefit most from increases in the government wage bill, while men are the main beneficiaries of higher investment spending.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Fiscal policy, Labour markets JEL Code(s): E, E3, E32, E6, E62, J, J1, J16, J2, J21