Ben Moll on the Basics of HANK Models and How They Can Be Applied to Policymaking
Macro Musings with David Beckworth
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The Transmission Mechanisms of Monetary Policy
The newcansiun model only has that that last group, the one that's not hand to mouth or the wealthy one. And so they're much moreof what you would call agest of marginal propensity to consume households. All this has very big implications for the transmission mechanisms of monetary policy. So why don't we talk about those? You have severall. Yeve a chart with a bunch of channels that illustrates how these different households respond differently to a shock.
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