Redistributive effects: The overlooked factors in monetary policy analysis

We will use the example of the euro zone and the case of expansionary monetary policies. The redistributive effects of these policies, which have not been sufficiently studied, can be divided into: "Flow" effects: interest payment flows from lenders to borrowers are reduced, which is obviously negative for lenders and positive for borrowers; "Stock" effects: an increase in the value of financial and real estate assets is positive for asset holders (generally, high-income, older people) and negative for those who have to buy assets (young people). Is it possible to be a winner both in terms of flows and stocks? One has to be a borrower and an asset holder (this is the case, for example, with all investment funds using debt leverage, companies that have used borrowing to make acquisitions, etc.).