Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution
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Authors
Cantore, C.
Freund, L. B.
Abstract
We propose a novel two-agent New Keynesian model to study the interaction of fiscal policy and household heterogeneity in a tractable environment. Workers can save in bonds subject to portfolio adjustment costs; firm ownership is concentrated among capita
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Keywords
Fiscal Policy, Heterogeneity, HANK, TANK
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Faculty of Economics & Cambridge-INET Institute, University of Cambridge