Broer, Tobias; Krusell, Per; Ćberg, Erik - In: Quantitative economics : QE ; journal of the ā¦ 14 (2023) 3, pp. 799-816
We use an analytically tractable heterogeneousāagent (HANK) version of the standard New Keynesian model to show how the size of fiscal multipliers depends on (i) the distribution of factor incomes, and (ii) the source of nominal rigidities. With sticky prices but flexible wages, the standard...