Classic Policy Benchmarks for Heterogeneous-Agent Economies

James Bullard and Riccardo DiCecio

No 341, Speech from Federal Reserve Bank of St. Louis

Abstract: Increasing interest in large-scale heterogeneous-agent DSGE models. Realistic degrees of heterogeneity?approaching observed Gini coefficients in U.S. data. What is the role of monetary policy in such a model?

Pages: 47 pages
Date: 2019-06-22
New Economics Papers: this item is included in nep-dge
Note: Related presentation, titled "Classic Policy Benchmarks for Heterogeneous-Agent Economies."
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