“Microeconomic Heterogeneity and Macroeconomic Shocks”
E1016915
“Microeconomic Heterogeneity and Macroeconomic Shocks” is an influential economics paper by Greg Kaplan that analyzes how differences across individual households shape the aggregate effects of macroeconomic disturbances.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Microeconomic Heterogeneity and Macroeconomic Shocks | 0 |
Statements (39)
| Predicate | Object |
|---|---|
| instanceOf |
academic article
ⓘ
economics paper ⓘ |
| analyzes |
aggregate effects of macroeconomic disturbances
ⓘ
differences across individual households ⓘ |
| author | Greg Kaplan NERFINISHED ⓘ |
| contribution |
highlights importance of distributional state for aggregate dynamics
ⓘ
links household-level behavior to macroeconomic policy analysis ⓘ shows how micro-level heterogeneity shapes macroeconomic responses ⓘ |
| discipline | economics ⓘ |
| field |
household finance
ⓘ
macroeconomics ⓘ microeconomics ⓘ |
| focusesOn |
heterogeneity in income and wealth
ⓘ
heterogeneity in marginal propensities to consume ⓘ role of household balance sheets in macroeconomic transmission ⓘ |
| influentialFor |
policy analysis incorporating household heterogeneity
ⓘ
research on distributional macroeconomics ⓘ research on heterogeneous-agent New Keynesian models ⓘ |
| language | English ⓘ |
| mainTopic |
aggregate consumption dynamics
ⓘ
distributional effects of macroeconomic shocks ⓘ heterogeneous-agent models ⓘ macroeconomic shocks ⓘ microeconomic heterogeneity ⓘ |
| relatedConcept |
aggregate demand
ⓘ
consumption insurance ⓘ fiscal policy transmission ⓘ idiosyncratic risk ⓘ income distribution ⓘ incomplete markets ⓘ monetary policy transmission ⓘ wealth distribution ⓘ |
| shows |
aggregate outcomes depend on distribution of household states
ⓘ
representative-agent models can miss key distributional channels ⓘ |
| studies |
aggregate implications of micro-level behavior
ⓘ
household responses to macroeconomic disturbances ⓘ |
| usesMethod |
calibrated structural model of households
ⓘ
heterogeneous-agent general equilibrium framework ⓘ quantitative macroeconomic modeling ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.