000			01471nab a2200253 c 4500
999			_c150208 _d150208
003			ES-MaIEF
005			20250205102345.0
007			ta
008			250205t2024 xxu||||| |||| 00| 0eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100	1		_972257 _aBayer, Christian
245	1	0	_aShocks, frictions, and inequality in US business cycles _c Christian Bayer, Benjamin Born and Ralph Luetticke
504			_aBibliografía.
520			_aWe show how a heterogeneous agent New Keynesian (HANK) model with incomplete markets and portfolio choice can be estimated in state space using a Bayesian approach. To render estimation feasible, the structure of the economy can be exploited and the dimensionality of the model automatically reduced based on the Bayesian priors. We apply this approach to analyze how much inequality matters for the business cycle and vice versa. Even when the model is estimated on aggregate data alone and with a set of shocks and frictions designed to match aggregate data, it broadly reproduces observed US inequality dynamics.
650		4	_943015 _aECONOMIA KEYNESIANA
650		4	_948062 _aPOLITICA MONETARIA
650		4	_948067 _aPOLITICA FISCAL
650		4	_934579 _aCICLOS ECONOMICOS
650		4	_950200 _aRENTA
700	1		_972258 _aBorn, Benjamin
700	1		_972259 _aLuetticke, Ralph
773	0		_9172163 _oOP 234/2024/5 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _g v. 114, n. 5, May 2024, p. 1211-1247.
942			_cART