Embedding a costly-state-verification debt contract -- in which a borrower's external finance premium depends inversely on net worth -- into an otherwise standard New Keynesian model, this chapter …
This 2016 Handbook of Macroeconomics chapter by Valerie Ramey surveys how macroeconomists identify structural shocks to monetary policy, fiscal policy, and technology, and how those shocks propagate …
Using PSID panel data and a calibrated heterogeneous-household business-cycle model, this chapter shows that a sufficiently large mass of low-wealth, non-hand-to-mouth households who sharply raise …
This chapter in the 1999 Handbook of Macroeconomics (Volume 1) by Lawrence Christiano, Martin Eichenbaum, and Charles Evans surveys and unifies the VAR-based literature on identifying monetary policy …