| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23494 |
| 来源ID | Working Paper 23494 |
| When Inequality Matters for Macro and Macro Matters for Inequality | |
| SeHyoun Ahn; Greg Kaplan; Benjamin Moll; Thomas Winberry; Christian Wolf | |
| 发表日期 | 2017-06-12 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We develop an efficient and easy-to-use computational method for solving a wide class of general equilibrium heterogeneous agent models with aggregate shocks, together with an open source suite of codes that implement our algorithms in an easy-to-use toolbox. Our method extends standard linearization techniques and is designed to work in cases when inequality matters for the dynamics of macroeconomic aggregates. We present two applications that analyze a two-asset incomplete markets model parameterized to match the distribution of income, wealth, and marginal propensities to consume. First, we show that our model is consistent with two key features of aggregate consumption dynamics that are difficult to match with representative agent models: (i) the sensitivity of aggregate consumption to predictable changes in aggregate income and (ii) the relative smoothness of aggregate consumption. Second, we extend the model to feature capital-skill complementarity and show how factor-specific productivity shocks shape dynamics of income and consumption inequality. |
| 主题 | Other ; General, Teaching ; Econometrics ; Macroeconomics ; International Economics ; Financial Economics ; Labor Economics |
| URL | https://www.nber.org/papers/w23494 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581168 |
| 推荐引用方式 GB/T 7714 | SeHyoun Ahn,Greg Kaplan,Benjamin Moll,et al. When Inequality Matters for Macro and Macro Matters for Inequality. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23494.pdf（1532KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
