标题： 货币政策与收入和财富的联合分布：欧元区的异质性案例 显示英文标题

标题： Monetary policy and the joint distribution of income and wealth: The heterogeneous case of the euro area

摘要： 本文旨在建立选定欧元区国家收入、净财富及其联合分布之间的经验关系。 我使用半参数Copula方法估计收入与净财富之间的依赖性，并计算二元Gini系数。 通过将宏观经济层面的向量自回归结构推断与微观经济数据模拟相结合，我研究了传统和非传统货币政策措施如何影响联合分布。 结果表明，货币政策的影响在不同国家之间高度异质，既体现在收入与净财富相互依赖的程度上，也体现在收入和净财富不平等程度上。 显示英文摘要

摘要： This papers 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.