The New Keynesian Transmission Mechanism: A Heterogenous-Agent Perspective
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We argue that a 2-agent version of the standard New Keynesian modelwhere a worker receives only labor income and a capitalist only profit income offers insights about how income inequality affects the monetary transmission mechanism. Under rigid prices, monetary policy affects the distribution of
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美国国家经济研究局创建时间：
2016-07-01
