BoJ has increased income inequality, says Dutch paper
‘Aggressive’ monetary policy carries ‘unwanted side effects’
The Bank of Japan's (BoJ) unconventional monetary policy has contributed to widening income inequality in the country, according to a working paper published by The Netherlands Bank today.
In How Does Unconventional Monetary Policy Affect Inequality? Evidence from Japan, Ayako Saiki and Jon Frost say the BoJ has increased the monetary base and pushed up asset prices through its comprehensive monetary easing and quantitative and qualitative easing programmes, which "primarily" benefits people
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