ERC Advanced Grant · 2019
Heterogeneity, Monetary Policy and Economic Fluctuations
The proposed research aims at assessing the role of heterogeneity in economic fluctuations and its implications for monetary policy, with a focus on recent HANK (for Heterogeneous Agents New Keynesian) models. A first objective is the development of an “organizing framework” which focuses on the distinction between two types of agents of households (or firms) at any point in time: those who satisfy an intertemporal optimality condition (labeled as “unconstrained”) and those who do not (labeled as “constrained”). A heterogeneity wedge can be defined that accounts for the differential behavior of aggregate consumption (or investment) relative to an economy with a representative household (or…
From the public funding record at EU CORDIS. Describes the funded project, not the reviews below.
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