Collaborative Research: Macroeconomics and Inequality
合作研究:宏观经济学和不平等
基本信息
- 批准号:0617900
- 负责人:
- 金额:$ 15.69万
- 依托单位:
- 依托单位国家:美国
- 项目类别:Continuing Grant
- 财政年份:2006
- 资助国家:美国
- 起止时间:2006-07-15 至 2010-06-30
- 项目状态:已结题
- 来源:
- 关键词:
项目摘要
The purpose of the proposal is to continue an ongoing research effort - developing theory and empirical methods - aiming to better understand the interplay between macroeconomics and inequality. Earlier work of the investigators has analyzed macroeconomic models with a cross-section of consumers, with an accompanying nontrivial determination of the wealth distribution and of individual wealth transitions. This endeavor, which this project continues, is motivated both by (i) the need to build more solid microfoundations for existing macroeconomic models"consumer heterogeneity is a fact of arguably first-order importance" and by (ii) an interest per se in inequality, and in how macroeconomic aggregates and macroeconomic policy influence the cross-section of consumers. An overall goal of the present proposal is to extend macroeconomic theory and methods so as to establish a closer, and more solid, connection with the applied microeconomic literatures studying consumption and labor supply decisions; thus, it is closely in line with the goals stated, not from the perspective of macroeconomics, but from the perspective of microeconomics.A key insight in the earlier work of the PIs is approximate aggregation: a feature of theoretical economies with heterogeneous agents that (i) allows these economies to be analyzed at all (otherwise they may be infeasibly complicated) and (ii) at the same time opens up the possibility of exploring new macroeconomic models, with substantial and realistic consumer heterogeneity, that have nontrivial and interesting properties that seem to be able to help us understand the data better. The current proposal contains four main components that are part of the same overall goal. First, the aim is to continue exploring the boundaries of approximate aggregation: systematically looking for economically interesting cases where approximate aggregation may fail. In particular, the project explores new forms of heterogeneity that are a priori interesting and studies nonstationary macroeconomic episodes (involving, say, large policy change or a burst of technological progress). Second, the investigators look specifically at a form of heterogeneity that has had very little presence in macroeconomic analyses but that is arguably key especially in asset markets and for investment decisions: asymmetric information (about fundamentals). This part of the research imports insights from financial economics and adapts them to an otherwise standard, quantitative macroeconomic setting, which presumes that all investors have the same beliefs. Third, the project examines frictions in the labor market. Specifically, it will go underneath the exogenous idiosyncratic income processes used in earlier work by explicitly modeling a labor market with frictions and then incorporating this market into the macroeconomic model. It will also develop richer ways to capture empirically the multiple sources of income risk that households face. Fourth and finally, the project explores the econometrics of bringing the macroeconomic model with heterogeneity to the data; here, the methodological development includes combining model solution and parameter choice. The intellectual merit of the proposed activity is thus the development of advanced tools for improving the analysis both of the macroeconomy and of inequality in the context of the macroeconomy.The broader impacts resulting from the proposed activity are central: they aim to connect macroeconomic analysis, in a substantial way, to other disciplines within economics, primarily applied microeconomics. In addition, the development of tools here"in part for computation" is broadly useful in economic analysis. Finally, and most broadly, much of the public debate about macroeconomic policy focuses on its distributional effects, on who gains and who loses from changes in policy. The proposed research seeks precisely to improve the ability of economists to assess the quantitative effects of policy on different groups the rich and the poor, the skilled and the unskilled, the employed and the unemployed within the macroeconomy. The proposed research, if successful, will ultimately help policymakers to make more informed decisions.
该提案的目的是继续进行正在进行的研究工作-发展理论和实证方法-旨在更好地理解宏观经济学与不平等之间的相互作用。 研究者的早期工作分析了具有消费者横截面的宏观经济模型,伴随着财富分配和个人财富转移的重要决定。本项目继续进行的这一奋进的动机是:(i)需要为现有的宏观经济模型建立更坚实的微观基础“消费者异质性可以说是一个具有头等重要性的事实”;(ii)对不平等本身以及宏观经济总量和宏观经济政策如何影响消费者的兴趣。本提案的总体目标是扩展宏观经济理论和方法,以便与研究消费和劳动力供给决策的应用微观经济学文献建立更紧密、更坚实的联系;因此,它与所述目标密切一致,不是从宏观经济学的角度,而是从微观经济学的角度。PI早期工作的一个关键见解是近似汇总:具有异质代理的理论经济的一个特征,(i)允许对这些经济进行分析(否则它们可能是不可行的复杂),(ii)同时开辟了探索新的宏观经济模型的可能性,具有实质性和现实的消费者异质性,具有重要和有趣的属性,似乎能够帮助我们更好地理解数据。目前的建议包含四个主要组成部分,它们是同一个总体目标的一部分。 首先,目的是继续探索近似汇总的边界:系统地寻找近似汇总可能失败的经济上有趣的案例。特别是,该项目探索了新形式的异质性,这是一个先验的有趣和研究非平稳的宏观经济事件(涉及,比如说,大的政策变化或技术进步的爆发)。 第二,研究人员特别关注一种异质性,这种异质性在宏观经济分析中很少出现,但可以说是关键,特别是在资产市场和投资决策中:(关于基本面的)不对称信息。这部分的研究从金融经济学中引入了一些见解,并将其应用于一个标准的、定量的宏观经济环境,该环境假设所有投资者都有相同的信念。 第三,该项目考察了劳动力市场的摩擦。具体而言,它将通过明确建模具有摩擦的劳动力市场,然后将这个市场纳入宏观经济模型,来深入研究早期工作中使用的外生特质收入过程。它还将开发出更丰富的方法,以实证方式捕捉家庭面临的多种收入风险来源。 第四,也是最后,该项目探讨了将具有异质性的宏观经济模型引入数据的计量经济学;在这里,方法论的发展包括将模型求解和参数选择相结合。 因此,拟议活动的智力价值是开发先进工具,以改进宏观经济分析和宏观经济背景下的不平等分析,拟议活动产生的更广泛影响至关重要:它们旨在将宏观经济分析与经济学中的其他学科,主要是应用微观经济学,实质性地联系起来。此外,“部分用于计算”的工具的开发在经济分析中广泛有用。最后,也是最广泛的一点,关于宏观经济政策的公共辩论主要集中在其分配效应上,即谁从政策变化中获益,谁又从政策变化中受损。拟议的研究正是为了提高经济学家的能力,以评估宏观经济中政策对不同群体富人和穷人、熟练工人和非熟练工人、就业者和失业者的量化影响。拟议的研究如果成功,将最终帮助决策者做出更明智的决定。
项目成果
期刊论文数量(0)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
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Anthony Smith其他文献
mHealth intervention design: creating mHealth interventions for behaviour change
移动医疗干预设计:为行为改变创建移动医疗干预措施
- DOI:
- 发表时间:
2016 - 期刊:
- 影响因子:0
- 作者:
Anthony Smith;K. Salas;B. Schüz;S. G. Ferguson;Ian J. Lewis - 通讯作者:
Ian J. Lewis
Ethanol-Induced Taurine Efflux
乙醇诱导的牛磺酸流出
- DOI:
- 发表时间:
2003 - 期刊:
- 影响因子:0
- 作者:
Anthony Smith;C. J. Watson;R. Kennedy;J. Peris - 通讯作者:
J. Peris
Glutamate decarboxylase‐immunoreactive terminals of Golgi‐impregnated axoaxonic cells and of presumed basket cells in synaptic contact with pyramidal neurons of the cat's visual cortex
高尔基体浸渍的轴突细胞和与猫视皮层锥体神经元突触接触的假定篮细胞的谷氨酸脱羧酶免疫反应末端
- DOI:
- 发表时间:
1983 - 期刊:
- 影响因子:0
- 作者:
T. F. Freund;K. Martin;Anthony Smith;P. Somogyi - 通讯作者:
P. Somogyi
Social learning on uncertainty in risk analysis – an exploratory analysis of the outcomes of an experiential game-based workshop
关于风险分析中的不确定性的社会学习——对基于游戏的体验式研讨会结果的探索性分析
- DOI:
- 发表时间:
2023 - 期刊:
- 影响因子:0
- 作者:
Catherine Leclercq;Laura Martino;Giorgia Nicolò;Anthony Smith;Domagoj Vrbos - 通讯作者:
Domagoj Vrbos
186. Early Life Origins of Risky Sexual Behavior in Adolescence
- DOI:
10.1016/j.jadohealth.2010.11.234 - 发表时间:
2011-02-01 - 期刊:
- 影响因子:
- 作者:
S. Rachel Skinner;Michael Smith;Spring Cooper Robbins;Eugen Mattes;Dorota Doherty;Jeff Cannon;Martha Hickey;Susan Rosenthal;Anthony Smith - 通讯作者:
Anthony Smith
Anthony Smith的其他文献
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{{ truncateString('Anthony Smith', 18)}}的其他基金
Macroeconomics and Global Climate Change
宏观经济与全球气候变化
- 批准号:
0922524 - 财政年份:2009
- 资助金额:
$ 15.69万 - 项目类别:
Continuing Grant
Collaborative Research: Inequality and the Distributional Effects of Macroeconomic Policy
合作研究:不平等与宏观经济政策的分配效应
- 批准号:
0351417 - 财政年份:2004
- 资助金额:
$ 15.69万 - 项目类别:
Continuing Grant
Collaborative Research: Macroeconomics and Inequality
合作研究:宏观经济学和不平等
- 批准号:
9807971 - 财政年份:1998
- 资助金额:
$ 15.69万 - 项目类别:
Continuing Grant
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