1st Edition

Monetary Policy and Inequality The Pasinetti Index

Edited By Sylvio Antonio Kappes, Louis-Philippe Rochon Copyright 2026
184 Pages
by Routledge

184 Pages
by Routledge

This book explores the relationship between monetary policy and income (and wealth) distribution, a growing area of research in post-Keynesian and heterodox economics today. The interest actually goes back at least to Keynes, who, in his A Tract on Monetary Reform , discusses the effects of interest rates on income distribution—what has been called a â€˜rentier-first’ monetary policy. This... Read more

Introduction - Monetary Policy and Income Distribution: The Pasinetti Index

Sylvio Kappes and Louis-Philippe Rochon

 

1. Where do the Pasinetti Rule and the Pasinetti Index Come from?

Marc Lavoie and Mario Seccareccia

 

2. Distributional Regimes in the US — The Pasinetti Index and the Monetary Policy Effects on Income Distribution

Pedro Hugo Clavijo Cortes, Sylvio Antonio Kappes and Louis-Philippe Rochon

 

3. Monetary Policy and the Pasinetti Index: A Stock Flow Model for Latin American Economies

Lorenzo Nalin, Leonardo Rojas Rodriguez, Esteban Perez Caldentey and Giuliano Yajima

 

4. Revisiting the Pasinetti Index: Understanding Its Cyclical and Long-Term Features and Its Important Implications for Macroeconomic Policy

Guillermo Matamoros and Mario Seccareccia

 

5. The Distributive Impact of Unconventional Monetary Policies: Old and New

Lucio Gobbi, Carlo D’Ippoliti and Jacopo Temperini

 

6. The Pasinetti Index and the Rise of Inequality in the Age of Unconventional Monetary Policy in Japan

Yuki Tada and Kazuhiro Kurose

 

7. Monetary Policy and Income Distribution: Some Reflections on the Pasinetti Rule

Enrico Sergio Levrero and Antonino Lofaro

 

Biography

Sylvio Antonio Kappes is Assistant Professor of Macroeconomics at the Federal University of Alagoas, Brazil. He is the co-editor of the Elgar Series on Central Banking and Monetary Policy, together with Louis-Philippe Rochon and Guillaume Vallet. He is the co-editor of the Review of Political Economy. He also sits on the editorial boards of the Bulletin of Political Economy and Advances in Economics Education. He is the co-director of the Monetary Policy Institute.


Louis-Philippe Rochon is Full Professor of Economics at Laurentian University, Canada. He is the current editor-in-chief of the Review of Political Economy and the founder (now Editor Emeritus) of the Review of Keynesian Economics. He sits on the editorial board of 14 other journals. He has published widely in several journals on monetary policy and post-Keynesian economics. He has been Visiting Professor in over 10 countries. He is the co-director of the Monetary Policy Institute.