Shocks, frictions, and inequality in US business cycles (Record no. 527116)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01381nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240805b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Bayer, C., Born, B. and Luetticke, R. |
| 245 ## - TITLE STATEMENT | |
| Title | Shocks, frictions, and inequality in US business cycles |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | The American Economic Review |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 114(5), May, 2024: p.1211-1247 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | We show how a heterogeneous agent New Keynesian (HANK) model with incomplete markets and portfolio choice can be estimated in state space using a Bayesian approach. To render estimation feasible, the structure of the economy can be exploited and the dimensionality of the model automatically reduced based on the Bayesian priors. We apply this approach to analyze how much inequality matters for the business cycle and vice versa. Even when the model is estimated on aggregate data alone and with a set of shocks and frictions designed to match aggregate data, it broadly reproduces observed US inequality dynamics.- Reproduced https://www.aeaweb.org/articles?id=10.1257/aer.20201875 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Personal Income, Wealth, and Their Distributions Incomplete Markets, General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory, Business Fluctuations; Cycles, Monetary Policy, Fiscal Policy |
| 9 (RLIN) | 56307 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | The American Economic Review |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | FISCAL POLICY |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-08-05 | 114(5), May, 2024: p.1211-1247 | AR132564 | 2024-08-05 | Articles |