127834 20240731103416.0 doi 10.2478/jcbtp-2023-0031 sideral 134928 ART-2023-134928 eng Peña, Guillermo Universidad de Zaragoza (orcid)0000-0002-8816-5816 Raising Interest Rates for Improving Income 2023 Access copy available to the general public Unrestricted This paper illustrates a case where an increase of the interest rates improves the economic activity and reduces income inequality. This theoretical exercise deals with a simple model of disequilibrium with accountant identities of budget constraints. In addition, and following previous models, the effect of the COVID-19 shock is considered, by reflecting asymmetric repercussions that increase income inequality. A simple empirical exercise confirms some of the previous results. The proposed explanation is that, for the euro area, this shock has affected more middle-income households such as the retailers harmed by the compulsory lockdown who have increased their debts. info:eu-repo/grantAgreement/ES/DGA/S23-20R info:eu-repo/grantAgreement/ES/DGA/S39-23R info:eu-repo/grantAgreement/ES/MICINN/PID2020-112773GB-I00 info:eu-repo/grantAgreement/ES/UZ/JIUZ-2022-CSJ-19 info:eu-repo/semantics/openAccess by http://creativecommons.org/licenses/by/3.0/es/ 0.416 2023 Economics, Econometrics and Finance (miscellaneous) 2023 Q2 2.8 2023 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 4000 415 Universidad de Zaragoza Dpto. Análisis Económico Área Fund. Análisis Económico 12, 3 (2023), 199-217 J. Cent. Bank. Theory Pract. (Podgor.) Journal of Central Banking Theory and Practice 1800-9581 2326932 http://zaguan.unizar.es/record/127834/files/texto_completo.pdf Versión publicada 1132793 http://zaguan.unizar.es/record/127834/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:127834 articulos driver 2024-07-31-10:06:47 ARTICLE