Quantitative Macroeconomics with Heterogeneous Households
综述了关注家庭异质性的定量宏观经济学文献,重点介绍“标准”不完全市场模型,围绕个体风险来源、保险渠道以及异质性风险与总体风险的互动三个主题展开,帮助读者理解不平等如何影响宏观经济。
Macroeconomics is evolving from the study of aggregate dynamics to the study of the dynamics of the entire equilibrium distribution of allocations across individual economic actors. This article reviews the quantitative macroeconomic literature that focuses on household heterogeneity, with a special emphasis on the “standard” incomplete markets model. We organize the vast literature according to three themes that are central to understanding how inequality matters for macroeconomics. First, what are the most important sources of individual risk and cross-sectional heterogeneity? Second, what are individuals' key channels of insurance? Third, how does idiosyncratic risk interact with aggregate risk?