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.

中文翻译：

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提高利率以提高收入

本文阐述了利率上升改善经济活动并减少收入不平等的情况。这个理论练习涉及一个简单的不平衡模型，其中会计人员的预算约束恒等式。此外，按照之前的模型，通过反映加剧收入不平等的不对称影响来考虑 COVID-19 冲击的影响。一个简单的实证练习证实了之前的一些结果。拟议的解释是，对于欧元区来说，这种冲击影响了更多的中等收入家庭，例如因强制封锁而受到伤害的零售商，他们的债务增加了。