13  For a discussion of mobility in income distribution, see Raj Chetty, Nathaniel Hendren, Patrick Kline, Emmanuel Saez, and Nicholas Turner (2014), “Is the United States Still a Land of Opportunity? Recent Trends in Intergenerational Mobility,” NBER Working Paper Series 19844 (Cambridge, Mass. : National Bureau of Economic Research, January).
14  For more information on intergenerational mobility, see Markus Jäntti, Bernt Bratsberg, Knut Røed, Oddbjørn Raaum, Robin Naylor, Eva Österbacka, Anders Björklund, and Tor Eriksson (2006), “American Exceptionalism in a New Light: A Comparison of Intergenerational Earnings Mobility in the Nordic Countries, the United  BIS central bankers’ speeches  5  The role of monetary policy As must be apparent, the challenges I have discussed are not susceptible to easy or rapid solution.