Central Banking, Monetary Policy and Gender

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Central Banking, Monetary Policy and Gender

9781803927909 Edward Elgar Publishing
Edited by Louis-Philippe Rochon, Full Professor, Laurentian University, Canada, Editor-in-Chief, Review of Political Economy and Founding Editor Emeritus, Review of Keynesian Economics, Sylvio Kappes, Assistant Professor, Federal University of Alagoas, Brazil and Guillaume Vallet, Full Professor, Université Grenoble Alpes and Research Fellow, Centre de Recherche en Economie de Grenoble (CREG), France
Publication Date: May 2024 ISBN: 978 1 80392 790 9 Extent: 252 pp
Central Banking, Monetary Policy and Gender uniquely explores the ways in which monetary policies, changes in interest rates and unconventional monetary strategies such as quantitative easing affect women. This groundbreaking book analyses the inner organisation of central banks, considering for the first time how banking transmission mechanisms operate in relation to gender, investigating issues of power, income, wealth inequality and labour market dynamics.

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Critical Acclaim
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Central Banking, Monetary Policy and Gender uniquely explores the ways in which monetary policies, changes in interest rates and unconventional monetary strategies such as quantitative easing affect women. This groundbreaking book analyses the inner organisation of central banks, considering for the first time how banking transmission mechanisms operate in relation to gender, investigating issues of power, income, wealth inequality and labour market dynamics.

Editors Louis-Philippe Rochon, Sylvio Kappes and Guillaume Vallet bring together internationally renowned scholars to present cutting-edge research. Chapters discuss the role of monetary policy in the gender pension gap; the impact of inflation reduction policies on female and male employment rates; the gender politics of comportment in central banking; the inner organisation of central banks and how financial crises can create systemic discrimination. Contributors advocate for looking beyond the traditional roles of central banks, encouraging scholars and practitioners to assess strategies and frameworks from alternative perspectives such as gender to highlight systemic inequalities and campaign for better, more equitable practices going forward.

Offering a novel approach to central banking and monetary policy, this book will be invaluable to academics, students and researchers in political economy, feminist economics, and public policy. Its practical and timely guidance will also be of interest to professionals working in the banking, economic and financial sectors.
Critical Acclaim
‘This book examines understudied and important questions regarding monetary policy’s distributional impacts and the role of gender representation in central banking. Readers looking for an introduction to these topics will benefit from the impressive range of geographies and methodologies covered by the chapters in this text. The blending of post-Keynesian and feminist approaches is particularly timely given shifts in monetary policy globally and continued disparities in economic outcomes by gender.’
– Melanie Long, The College of Wooster, US

‘Macroeconomists rarely consider gender when analyzing monetary and financial policies, content in the assertion that there is no need since such analysis, by its nature, is gender blind. This important collection of essays proves otherwise, demonstrating that being gender blind does not imply gender neutrality. The book shines a spotlight on the dramatic range of gender biases associated with monetary policy, exchange rates, inflation, financial markets and corporate governance and, in so doing, makes a clear case for changing how we think about macroeconomic policies and outcomes.’
– James Heintz, University of Massachusetts–Amherst, US

‘This interesting book seeks to introduce the reader to very relevant and important topics, such as the role of central banks, monetary policy and gender. The book is not just for economists but for anyone invested in a future where economic policies promote inclusivity, equality, and justice. It''s a call to action for reshaping the financial landscape, ensuring that the benefits of economic policies are felt by all, regardless of gender. The book doesn''t stop at mere observation; it challenges existing paradigms.’
– Veronica Artola, Former Governor, Central Bank of Ecuador, Ecuador
Contributors
Contributors include: Selin Secil Akin, Diksha Arora, Joana David Avritzer, José Pedro Bastos Neves, Elissa Braunstein, Clara Brenck, Marcella Corsi, Patrícia Machado Couto, Luisa De Vita, Sylvio Antonio Kappes, Nathalie Marins, Constance Morley, Débora Nunes, Nikolas Passos, Giulia Porino, Louis-Philippe Rochon, Frutuoso Santana, Guillaume Vallet, Giulia Zacchia
Contents
Contents:

Central Banking, Monetary Policy and Gender: new frontiers 1
Louis-Philippe Rochon, Sylvio Kappes and Guillaume Vallet
1 Intersectional and inclusive diversity in the corporate
elite? The case of the financial sector 11
Giulia Porino, Giulia Zacchia and Luisa De Vita
2 Rise of inflation and the gender pension gap: what role for
monetary policy? 38
Marcella Corsi and Giulia Porino
3 Gendered impacts of real effective exchange rate trends
on job quality in Latin America 60
Débora Nunes, Diksha Arora and Elissa Braunstein
4 The impact of inflation-reduction policies on female and
male employment rates 76
Selin Secil Akin
5 Household debt and gender: the effects of monetary policy
on consumption inequality 103
Joana David Avritzer and Frutuoso Santana
6 Women in central banking: a focus on the controversial
power–authority relation 136
Guillaume Vallet
7 Exchange rate as a monetary policy tool: effects on gender
inequality and development 157
Clara Zanon Brenck, José Pedro Bastos Neves, and Patrícia Machado Couto
8 Women are not doves: the politics of presence and ideas
in central banking 181
Nikolas Passos and Nathalie Marins
9 Gender, economics and human rights: how monetary
policy and financial crises create systemic discrimination 201
Marie Constance Morley
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