IDEAS home Printed from https://ideas.repec.org/a/aea/apandp/v114y2024p550-54.html
   My bibliography  Save this article

Heterogeneous Effects of Monetary Policy on Job Flows across Income, Race, Gender, and Age

Author

Listed:
  • Ester Faia
  • Ekaterina Shabalina
  • David Wiczer

Abstract

We study the heterogenous impact of monetary policy, through high-frequency identified shocks, across demographic and income groups. Our evidence shows significant heterogeneity in the monetary transmission across income groups, while significant differences across demographics emerge only for individuals whose income is below the median. We then build a model with idiosyncratic risk and occupational choices that provides a rationale for the channels we uncover: with uninsurable risk, low earners experience a larger decline in earnings, which reduces their likelihood of participating in the labor market and moving across occupations.

Suggested Citation

  • Ester Faia & Ekaterina Shabalina & David Wiczer, 2024. "Heterogeneous Effects of Monetary Policy on Job Flows across Income, Race, Gender, and Age," AEA Papers and Proceedings, American Economic Association, vol. 114, pages 550-554, May.
    • Handle: RePEc:aea:apandp:v:114:y:2024:p:550-54
    DOI: 10.1257/pandp.20241001
    as

    Download full text from publisher

    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20241001
    Download Restriction: no
    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20241001.ds
    Download Restriction: Access to full text is restricted to AEA members and institutional subscribers.
    File URL: https://libkey.io/10.1257/pandp.20241001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:apandp:v:114:y:2024:p:550-54. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.