How Does Monetary and Fiscal Policy Affect the Economy in the Face of Large Shocks?
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We build a model that combines (i) heterogeneous households with incomplete markets, and (ii) state-dependent pricing with strategic complementarities by firms, to analyze the effects of large macroeconomic shocks and policy interventions. Both features significantly influence the transmission of
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美国国家经济研究局创建时间：
2026-07-01
