Central Bank Policies and Income and Wealth Inequality:A Survey

This paper reviews recent research on the relationship between central bank policies and inequality. A new paradigm which integrates sticky-prices, incomplete markets, and heterogeneity among households is emerging, which allows for the joint study of how inequality shapes macroeconomic aggregates and how macroeconomic shocks and policies affect inequality. The new paradigm features multiple distributional channels of monetary policy. Most empirical studies, however, analyze each potential channel of redistribution in isolation. Our review suggests that empirical research on the effects of conventional monetary policy on income and wealth inequality yields mixed findings, although there seems to be a consensus that higher inflation, at least above some threshold, increases inequality. In contrast to common wisdom, conclusions concerning the impact of unconventional monetary policies on inequality are also not clear cut. To better understand policy effects on inequality, future research should focus on the estimation of General Equilibrium models with heterogeneous agents

Setting up a Common European Asylum System : Report on the application of existing instruments and proposals for the new system

The study assesses firstly the evaluation process of the first generation of asylum instruments while underlining the possibilities to improve it. It analyses secondly the asylum "acquis" regarding distribution of refugees between Member States, the eligibility for protection, the status of protected persons regarding detention and vulnerability, asylum procedures and the external dimension by formulating short-term recommendations of each area. Its last part is devoted to the long term evolution of the Common European Asylum System regarding the legal context including the accession of the EU to the Geneva Convention, the institutional perspectives including the new European Support Office, the jurisdictional perspective, the substantive perspective, the distributive perspective and the external perspective

can we call it a revolution women the labour market and european policy

In the USA the change in women's role in the economy over the last quarter-century has been likened to 'a quiet revolution'. Can we also talk of a quiet 'revolution' in Europe? The present article addresses this question by reviewing key developments in women's labour market position at EU level over the last 20 years. Full integration of women in the labour market was a focal point of European Employment Strategy, based on the understanding that it is an essential ingredient of gender equality; but it recently lost priority in favour of human rights and anti-discrimination goals. Policy responses to the financial crisis accelerated this change in priorities together with the perception that men are the real losers of the crisis. However, a stock-taking of women's integration into the labour market at EU level shows that two large obstacles stand in the way of full integration: regional imbalances and the secondary earner question. Female employment recently outperformed male employment, but fiscal consolidation policies currently hinder advancement in countries like the so-called GIPSI group, where progress is needed most. Meanwhile differences with respect to men in pension income or total earnings remain high at around forty percent. Reconciliation policy at EU level – leave design and care service provisioning in particular – had not consistently helped rebalance the gender division of labour within households. It needs recasting for a truly revolutionary change in women's role in the economy to materialize

Women's job quality across family life stages: An analysis of female employees across 27 European countries

There is little empirical evidence on how working conditions affect women’s employment and fertility choices, despite a number of studies on the impact of individual-level and institutional factors. The article addresses this gap by examining how family life stages are related to particular aspects of job quality among employed women in 27 European countries. The central argument of the analysis is that high-quality jobs are conducive to both transitions to motherhood and employment after childbirth as women select into these roles. Accordingly, mothers of young children, if employed, are expected to have relatively better quality jobs. Four dimensions of job quality are considered: job security, career progression, working time and intrinsic job quality. The results indicate that mothers with young children are more likely to hold high-quality jobs than women at other life stages with respect to working time quality and job security, but with some variation across countries for job security. The findings highlight the importance of high-quality jobs for women’s fertility decisions and labour market attachment after childbirth, with implications for European employment policy

The Efficiency and Equity of the Tax and Transfer System in France

Taxes and cash transfers reduce income inequality more in France than elsewhere in the OECD, because of the large size of the flows involved. But the system is complex overall. Its effectiveness could be enhanced in many ways, for example so as to achieve the same amount of redistribution at lower cost. This Working Paper relates to the 2013 OECD Economic Review of France (www.oecd.org/eco/surveys/France).http://deepblue.lib.umich.edu/bitstream/2027.42/133065/1/wp1047.pd

Wealth Inequality and Financial Development: Revisiting the Symmetry Breaking Mechanism

Paper No: 05-2015</p