<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672022000400098</article-id>
<article-id pub-id-type="doi">10.22201/fe.01851667p.2022.322.83636</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Monetary policy and income distribution in the COVID-19 pandemic crisis: A European perspective]]></article-title>
<article-title xml:lang="es"><![CDATA[Política monetaria y distribución del ingreso en la crisis de la pandemia COVID-19: una perspectiva europea]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rossi]]></surname>
<given-names><![CDATA[Sergio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,University of Fribourg  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Switzerland</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2022</year>
</pub-date>
<volume>81</volume>
<numero>322</numero>
<fpage>98</fpage>
<lpage>109</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672022000400098&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672022000400098&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672022000400098&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper focuses on central banks&#8217; interventions during the COVID-19 pandemic crisis and their impacts on income distribution across Europe, particularly as regards Switzerland and the euro area. The first section offers a survey of the monetary policy tools that have been put into practice to deal with the macroeconomic shock resulting from this pandemic. The second section points out the impact of central banks&#8217; interventions on the whole economic system, before elaborating on the distributive effects of them. The third section suggests an alternative monetary policy stance to reduce the latter effects and to enhance sustainable development for the common good.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El presente artículo analiza las intervenciones de los bancos centrales durante la crisis de la pandemia COVID-19 y sus impactos en la distribución del ingreso en Europa, en particular en lo que concierne a Suiza y el área del euro. Después de la introducción, la segunda parte ofrece una revisión de los instrumentos de política monetaria puestos en práctica para confrontar el choque resultante de esta pandemia. La tercera parte enfatiza el impacto de las intervenciones de los bancos centrales en todo el sistema económico, previo al escrutinio de sus efectos distributivos, y la cuarta sugiere un enfoque alternativo de política monetaria para atenuar estos efectos y para mejorar el desarrollo sustentable de los bienes comunes.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[COVID-19]]></kwd>
<kwd lng="en"><![CDATA[financial stability]]></kwd>
<kwd lng="en"><![CDATA[income distribution]]></kwd>
<kwd lng="en"><![CDATA[monetary policy]]></kwd>
<kwd lng="en"><![CDATA[pandemic crisis]]></kwd>
<kwd lng="en"><![CDATA[E02]]></kwd>
<kwd lng="en"><![CDATA[E21]]></kwd>
<kwd lng="en"><![CDATA[E24]]></kwd>
<kwd lng="en"><![CDATA[E25]]></kwd>
<kwd lng="es"><![CDATA[COVID-19]]></kwd>
<kwd lng="es"><![CDATA[estabilidad financiera]]></kwd>
<kwd lng="es"><![CDATA[distribución del ingreso]]></kwd>
<kwd lng="es"><![CDATA[política monetaria]]></kwd>
<kwd lng="es"><![CDATA[crisis pandémica]]></kwd>
<kwd lng="es"><![CDATA[E02]]></kwd>
<kwd lng="es"><![CDATA[E21]]></kwd>
<kwd lng="es"><![CDATA[E24]]></kwd>
<kwd lng="es"><![CDATA[E25]]></kwd>
</kwd-group>
</article-meta>
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