【ECON20171208】  
      宏觀經濟學研討會          （總第223期）      
      【時間】2016年5月17日（周三）12：15－13：45          【地點】明商0302教室          【主講】陳小亮 中國社會科學院經濟研究所          【主題】Doves for the Rich, Hawks for the Poor—Distributional Consequences of Monetary Policy (N. Gornemann et al., Working Paper, 2016)          【摘要】We build a New Keynesian business-cycle model with rich household heterogeneity. A central feature is that matching frictions render labor-market risk countercyclical and endogenous to monetary policy. Our main result is that a majority of households prefer substantial stabilization of unemployment even if this means deviations from price stability. A monetary policy focused on unemployment stabilization helps “Main Street” by providing consumption insurance. It hurts “Wall Street” by reducing precautionary saving and, thus, asset prices. On the aggregate level, household heterogeneity changes the transmission of monetary policy to consumption, but hardly to GDP. Central to this result is allowing for self-insurance and aggregate investment.          【主持】陳彥斌 教授          
         
         人大宏觀經濟學研討會（Macro Workshop）旨在追蹤宏觀經濟學國際最新進展，倡導構建符合國情的動態優化模型，并使用計算機模擬研究經濟增長、收入分配和宏觀政策等中國宏觀經濟重大問題。          聯系人：劉哲希    Email：Macro_Workshop@163.com          資料下載：www.docin.com/mydoc-88265459-1.html          更多講座信息請訪問：www.dehf4y.cn，www.yanjiuyuan.com.cn，通過微信搜索公眾號“大宏觀”或掃描以下二維碼關注“大宏觀”                                                      經濟學院          中國經濟改革與發展研究院