Davide Debortoli

Davide Debortoli · Mario Forni · Luca Gambetti · Luca Sala

This paper measures how the inflation-unemployment tradeoff associated with monetary policy varies with both the sign of the monetary intervention (easing versus tightening) and the state of the …

Davide Debortoli · Jordi Galí

By building three nested HANK economies and then constructing a deliberately simple two-agent counterpart for each, this paper argues that what household heterogeneity does to aggregate output can be …

Davide Debortoli · Jordi Galí

This paper asks how much of the HANK literature's message about aggregate behaviour survives in a far simpler model, and answers by first identifying exactly what heterogeneity does.