24 October 2022 at 4:00PM | online: Anna Stelzer will defend her doctoral thesis “Heterogeneous effects of monetary policy in the euro area” which is supervised by Professor Dr. Florian Huber. You can join the defense on Zoom:  https://us06web.zoom.us/j/81818766903

Title: Heterogeneous effects of monetary policy in the euro area

Abstract: This paper aims to establish the empirical relationship between income, net wealth and their joint distribution in a selected group of euro area countries.
I estimate measures of dependence between income and net wealth using a semiparametric copula approach and calculate a bivariate Gini coefficient. By combining structural inference from vector autoregressions on the macroeconomic level with a simulation using microeconomic data, I investigate how conventional and unconventional monetary policy measures affect the joint distribution.
Results indicate that effects of monetary policy are highly heterogeneous across different countries, both in terms of the dependence of income and net wealth on each other, and in terms of inequality in both income and net wealth.