关键字：

宏观经济学研讨会

ECON201208（总第113期）

【时间】2012年4月24日（周二）12：15－13：45

【地点】明主0304教室

【主讲】郑文平

【主题】Income and Wealth Heterogeneity in the Macroeconomy（written by Krusell and Smith, JPE,1998）

【摘要】How do movements in the distribution of income and wealth affect the macroeconomy? We analyze this question using a calibrated version of the stochastic growth model with partially uninsurable idiosyncratic risk and movements in aggregate productivity. Our main finding is that, in the stationary stochastic equilibrium, the behavior of the macroeconomic aggregates can be almost perfectly described using only the mean of the wealth distribution. This result is robust to substantial changes in both parameter values and model specification. Our benchmark model, whose only difference from the representative-agent framework is the existence of uninsurable idiosyncratic risk, displays far less cross-sectional dispersion.

【主持】陈彦斌教授