Monday 25 November 2024, 04:30am - 06:00pm
How Does Monetary and Fiscal Policy Shape Macroeconomic Dynamics in the Face of Large Shocks?(Joint with Ken Miyahara)
Abstract:
We develop a HANK model with state-dependent pricing to study the impact that alternative monetary and fiscal responses to the large shock of 2020 would have have had on output inflation, and the price level.