How Institutions Shape the Distributive Impact of Macroeconomic Shocks: A DSGE Analysis
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This paper examines how the the distributive impact of macroeconomic shocks is shaped by selected institutions. It uses a dynamic stochastic general equilibrium (DSGE) framework with heterogeneous agents and an endogenous collateral constraint. The model is based on the “credit view” of business cycles, where shocks affect the real economy also...
