Zobrazeno 1 - 10
of 22
pro vyhledávání: '"Adrien Auclert"'
Publikováno v:
Review of Economics and Statistics. 105:700-712
We show that New Keynesian models with frictionless labor supply face a challenge: given standard parameters, they cannot simultaneously match plausible estimates of marginal propensities to consume (MPCs), marginal propensities to earn (MPEs), and f
Publikováno v:
AEA Papers and Proceedings. 113:70-75
We provide a simple framework connecting the distribution of excess savings across households to the dynamics of aggregate demand. Deficit-financed fiscal transfers generate excess savings. The poorest households with the highest marginal propensitie
Publikováno v:
Econometrica. 89:2375-2408
We propose a general and highly efficient method for solving and estimating general equilibrium heterogeneous‐agent models with aggregate shocks in discrete time. Our approach relies on the rapid computation ofsequence‐space Jacobians—the deriv
Publikováno v:
SSRN Electronic Journal.
Publikováno v:
SSRN Electronic Journal.
We use a sufficient statistic approach to quantify the general equilibrium effects of population aging on wealth accumulation, expected asset returns, and global imbalances. Combining population forecasts with household survey data from 25 countries,
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6f429361cc558efee1d95cc5d93fdb60
https://doi.org/10.3386/w29161
https://doi.org/10.3386/w29161
Introducing heterogeneous households to a New Keynesian small open economy model amplifies the real income channel of exchange rates: the rise in import prices from a depreciation lowers households' real incomes, and leads them to cut back on spendin
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::8054d9d1ac41af153655cdf5c5796223
https://doi.org/10.3386/w28872
https://doi.org/10.3386/w28872
Autor:
Adrien Auclert
Publikováno v:
American Economic Review. 109:2333-2367
This paper evaluates the role of redistribution in the transmission mechanism of monetary policy to consumption. Using consumer theory, I show that redistribution has aggregate effects whenever marginal propensities to consume (MPCs) covary, across h