Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to …

This paper adds life-cycle features to a New Keynesian model and shows how this places financial wealth at the center …

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a …. However, the importance of the wealth channel as a part of the monetary policy transmission mechanism in China is still …

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a …. However, the importance of the wealth channel as a part of the monetary policy transmission mechanism in China is still …

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a …. However, the importance of the wealth channel as a part of the monetary policy transmission mechanism in China is still …

This paper studies the wealth channel in China. Although the wealth channel has been found to be functioning in many … households' point of view. Finally, we test the existence of the wealth channel more formally to find out whether those changes … in asset prices that are caused by monetary policy are significant enough to increase consumption. In summary, the wealth …