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In this paper I develop a New Keynesian dynamic stochastic general equilibrium model which features three different types of representative agents (THRANK): the poor hand-to- mouth, the wealthy hand-to-mouth and the non-hand-to mouth households. Compared to a full-scale HANK model, this model is...
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This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher … depending on the level of household debt. The results corroborate other work that households' response to monetary policy shocks …
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household data in a difference-in-differences setting around QE adoption in 2015. We find that QE encourages households with …
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