Per Krusell

Philipp Hochmuth · Per Krusell · Kurt Mitman

This paper investigates how the EU's Fit-for-55 climate package will affect aggregate output and distribute its costs across the income distribution. The question matters because energy is a necessity …

Timo Boppart · Per Krusell · Kurt Mitman

This paper proposes computing the aggregate-uncertainty equilibrium of a heterogeneous-agent model by solving, entirely with standard nonlinear methods, the deterministic transition path back to …

Per Krusell · Anthony A. Smith, Jr.

In a calibrated stochastic growth model where a continuum of households face partially uninsurable employment risk and can self-insure only by holding aggregate capital, the macroeconomic aggregates …

Jeremy Greenwood · Zvi Hercowitz · Per Krusell

This paper asks how much of postwar U.S. economic growth came from investment-specific technological change -- cheaper, more efficient new equipment -- as opposed to ordinary (Hicks-neutral) …

Agneta Berge · Ann-Sofie Kolm · Per Krusell

This paper asks whether a labor market with search-and-matching frictions and firms producing under decreasing returns to labor is better characterized by in-house hiring with intra-firm wage …

Tobias Broer · Niels-Jakob H. Hansen · Per Krusell · Erik Öberg

This paper shows that the standard New Keynesian monetary transmission mechanism -- in which a rate cut raises output and employment -- breaks down in the simplest possible heterogeneous-agent version …