【ECON20191204】   

宏观经济学研讨会

（总第259期）      

【时间】2019年4月3日（周三）12：15－13：45          

【地点】明商0202教室          

【主讲】刘哲希 对外经济贸易大学国际经济贸易学院讲师          

【主题】Monetary Policy with Heterogeneous Agents：Insight from TANK Model（Davide Debortoli & Jordi Galí, Working Paper, 2018）          

【点评】周璇 中国人民大学经济学院副教授          

【摘要】How does heterogeneity affect the effectiveness of monetary policy and the properties of economic fluctuations? Using the distinction between constrained and unconstrained households at each point in time, we identify three channels at work in Heterogeneous Agent New Keynesian (HANK) models: (i) changes in the average consumption gap between constrained and unconstrained households, (ii) variations in consumption dispersion within unconstrained households, and (iii) changes in the share of constrained households . We analyze the quantitative importance of each of those factors for output fluctuations in a baseline HANK model. We show that a simple Two-Agent New Keynesian (TANK) model, with a constant share of constrained households and no heterogeneity within either type, approximates reasonably well the implications of a HANK model regarding the effects of aggregate shocks on aggregate output.

人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。          

联系人：王兆瑞    Email：Macro_Workshop@163.com          

资料下载：www.docin.com/mydoc-88265459-1.html          

更多讲座信息请访问：econ.ruc.edu.cn，www.yanjiuyuan.com.cn。                

中国人民大学经济学院

中国经济改革与发展研究院