Monetary policy and wealth inequality in South Africa: Evidence from tax administrative data

Goodness C. Aye, Laurence Harris and Junior T. Chiweza

No wp-2020-174, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper examines the relationship between monetary policy and wealth inequality in South Africa. We employed a unique database of tax administrative data which allowed us to account for individual heterogeneity. These tax data span from 2011 to 2017 and include over 3 million individual taxpayers in South Africa after data cleaning. Results based on fixed- and random-effects panel model estimates show that monetary policy generally increases wealth Gini inequality while it decreases the wealth 90-10 percentile differential.

Keywords: Monetary policy; Wealth inequality; Tax data; Heterogeneity (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-pub
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Citations: View citations in EconPapers (3)

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