| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24734 |
| 来源ID | Working Paper 24734 |
| Microeconomic Heterogeneity and Macroeconomic Shocks | |
| Greg Kaplan; Giovanni L. Violante | |
| 发表日期 | 2018-06-25 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We analyze the role of household heterogeneity for the response of the macroeconomy to aggregate shocks. After summarizing how macroeconomists have incorporated household heterogeneity and market incompleteness in the study of economic fluctuations so far, we outline an emerging framework that combines Heterogeneous Agents (HA) with nominal rigidities, as in New Keynesian (NK) models, that is much better aligned with the micro evidence on consumption behavior than its Representative Agent (RA) counterpart. By simulating consistently calibrated versions of HANK and RANK models, we convey two broad messages. First, the degree of equivalence between models crucially depends on the shock being analyzed. Second, certain interesting macroeconomic questions concerning economic fluctuations can only be addressed within HA models, and thus the addition of heterogeneity broadens the range of problems that can be studied by economists. We conclude by recognizing that the development of HANK models is still in its infancy and by indicating promising directions for future work. |
| 主题 | Microeconomics ; Households and Firms ; Market Structure and Distribution ; Macroeconomics |
| URL | https://www.nber.org/papers/w24734 |
| 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/582406 |
| 推荐引用方式 GB/T 7714 | Greg Kaplan,Giovanni L. Violante. Microeconomic Heterogeneity and Macroeconomic Shocks. 2018. |
| 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 | ||
| w24734.pdf（1129KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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