Present Bias Amplifies the Household Balance-Sheet Channels of Macroeconomic Policy
收藏NBER2021-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w29094
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资源简介：
We study the effects of monetary and fiscal policy in a heterogeneous-agent model where households have present-biased time preferences and naive beliefs. The model features a liquid asset and illiquid home equity, which households can use as collateral for borrowing. Because present bias
提供机构：
美国国家经济研究局
创建时间：
2021-08-01
