Przeglądaj według tematu "heterogeneous agents"
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The Aggregate and Distributional Effects of Fiscal Stimuli
(2022-01)This paper compares the aggregate and distributional effects of three fiscal policy instruments: government expenditures, unemployment benefits and transfers. To this end, the Diamond-Mortensen-Pissarides model of frictional ... -
A Theory of The Procyclical Effectiveness of Forward Guidance
(2022-12)I study the dependence of the forward guidance effectiveness on the level of economic slack. I use the model with price rigidities and uninsured unemployment risk and apply both analytical and numerical methods to study ... -
Labor market institutions and the business cycle: The role of unemployment fears
(2023-12)We study the effects of labor market institutions (LMIs) in a general equilibrium model with search and matching frictions, endogenous separations, nominal rigidities, and uninsurable unemployment risk. By contrasting the ...