Unconventional Monetary Policy According to HANK
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This paper studies the implications of household heterogeneity for the effectiveness of quantitative easing (QE). We consider a heterogeneous agent New Keynesian (HANK) model with uninsurable household income risk. Financial intermediaries are subject to an endogenous leverage constraint that allows
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美国国家经济研究局创建时间：
2022-08-01
