Research Discussion Paper – RDP 2025-04 HANK and the Transmission of Shocks to Demand and Supply
June 2025
Contents
- Introduction
- Literature
- Model
- Data and Calibration
- Supply and Demand Shocks
- Results
- Conclusion
- Appendix A: Shock Responses Not Discussed in the Main Text
- References
- Copyright and Disclaimer Notice
The authors would like to acknowledge contributions by Sarah Hunter, Jonathan Hambur, Ekaterina Shabalina, Dennis Wesselbaum, the RBA's Economic Research Department staff and participants at the 2022 VAMS workshop. The views expressed in this paper are those of the authors and should not be attributed to the Reserve Bank of Australia, the Reserve Bank of New Zealand or the e61 Institute. Any errors are the sole responsibility of the authors.