\"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

James Bullard and Riccardo DiCecio

No 340, Speech from Federal Reserve Bank of St. Louis

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?

Pages: 46 pages
Date: 2019-05-23
New Economics Papers: this item is included in nep-dge and nep-mac
Note: Related presentation, titled "Classic Policy Benchmarks for Heterogeneous-Agent Economies."
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