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Persistent link: https://www.econbiz.de/10012172901
How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...
Persistent link: https://www.econbiz.de/10012162730
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This paper aims at an improved understanding of the relationship between monetary policy and racial inequality. We investigate the distributional effects of monetary policy in a unified framework, linking monetary policy shocks both to earnings and wealth differentials between black and white...
Persistent link: https://www.econbiz.de/10012423843
This paper aims at an improved understanding of the relationship between monetary policy and racial inequality. We investigate the distributional effects of monetary policy in a unified framework, linking monetary policy shocks both to earnings and wealth differentials between black and white...
Persistent link: https://www.econbiz.de/10012428946
This paper aims at an improved understanding of the relationship between monetary policy and racial inequality. We investigate the distributional effects of monetary policy in a unified framework, linking monetary policy shocks both to earnings and wealth differentials between black and white...
Persistent link: https://www.econbiz.de/10012438366
This paper aims at an improved understanding of the relationship between monetary policy and racial inequality. We investigate the distributional effects of monetary policy in a unified framework, linking monetary policy shocks both to earnings and wealth differentials between black and white...
Persistent link: https://www.econbiz.de/10012668359
Einkommensverteilung, Haushaltsverschuldung, finanzieller Instabilität und der Entstehung von Finanzkrisen. Zwei Papiere beschreiben den … den Aufbau von Ungleichgewichten vor der Großen Rezession für die USA, Deutschland und China beschreibt. Das Hauptergebnis …
Persistent link: https://www.econbiz.de/10012125806
pressure, and excessive credit growth by allocating income to agents featuring low marginal propensity to consume, and if …
Persistent link: https://www.econbiz.de/10011932429
Persistent link: https://www.econbiz.de/10014308075