IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/19461_4.html
   My bibliography  Save this book chapter

Monetary policy in the United States and its impact on the functional distribution of income: 1970-2015

In: The Future of Central Banking

Author

Listed:
  • Ivan Dario Velasquez

Abstract

This article will overview how monetary policy, defined within the Modern Money Theory (MMT) approach, has impacted the United States' functional income distribution in 1970-2015. Monetary policy is presented as the interaction between the monetary and fiscal authorities to achieve policy goals. The changes along the period of analysis have shaped the economic system and impacted the functional distribution of income via the capital market channel suggested by Hyman Minsky in 1968. Using a long-wage analysis founded in the works of the French régulation theory and Minsky's approach, it is possible to see three stages in the development of regulatory regimes in the economy. A suggested explanation of how monetary policy impacts the functional distribution of income through the capital market transmission channel is presented.

Suggested Citation

  • Ivan Dario Velasquez, 2022. "Monetary policy in the United States and its impact on the functional distribution of income: 1970-2015," Chapters, in: Sylvio Kappes & Louis-Philippe Rochon & Guillaume Vallet (ed.), The Future of Central Banking, chapter 4, pages 84-105, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19461_4
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/edcoll/9781839100932/9781839100932.00013.xml
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Economics and Finance;

    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:elg:eechap:19461_4. 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: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    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.