Speech

\"Classic Policy Benchmarks for Heterogeneous Agent Economies,\" Monetary Policy and Heterogeneity Conference, Hong Kong Monetary Authority and Federal Reserve Bank of New York, Hong Kong, China.


Abstract: There has been increasing interest in large-scale heterogeneous agent DSGE models. These models have realistic degrees of heterogeneity?approaching observed Gini coefficients in U.S. data. They more directly address issues around income, financial wealth and consumption inequality. What is the role of monetary policy?

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Speech

Publication Date: 2019-05-23

Number: 340

Note: Related presentation, titled "Classic Policy Benchmarks for Heterogeneous-Agent Economies."