News
Karen Davtyan successfully defended his doctoral thesis
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Date: 19/05/2016
On April 29, 2016, Karen Davtyan successfully defended his doctoral thesis, entitled “Essays on Macroeconomic Policies and Redistribution,” supervised by Dr. Josep Lluís Carrión-i-Silvestre and Dr. Raúl Ramos Lobo, in the Sala de Graus of the Faculty of Economics and Business of the Universitat de Barcelona. The doctoral committee was composed of Dr. Cecilio Tamarit Escalona (Universitat de València), Dr. Javier Pérez García (Banco de España), and Dr. Marek Jarocinski (European Central Bank), who decided to grade the PhD thesis with an “Excellent” mark.
Karen´s dissertation consists of three essays, which evaluate the distributive effects of macroeconomic policies. The first essay examines the interrelations among economic growth, income inequality, and fiscal performance, taking also into account transmission channels among them. All variables are considered as endogenous and the interrelations are explored jointly in a system, using the longest possible consistently measured comparable data on income inequality. The impact of monetary policy on income inequality is assessed in the second essay. To identify a monetary policy shock, different approaches, including cointegration methodology, are employed. The third essay evaluates the distributive effect of unconventional monetary policy in comparison with the distributional impact of conventional monetary policy. The impact of conventional and unconventional shocks on different measures of income inequality is assessed and the relative importance of these shocks in the variation of Gini index is evaluated.