Macroeconomics and Household Heterogeneity ∗

  title={Macroeconomics and Household Heterogeneity ∗},
  author={Dirk Krueger and Kurt Mitman and Fabrizio Perri},
The goal of this chapter is study how, and by how much household income, wealth and preference heterogeneity amplifies and propagates a macroeconomic shock. We focus on the U.S. Great Recession of 2007-2009 and proceed in two steps. First, using data from the Panel Study of Income Dynamics, we document the patterns of household income, consumption and wealth inequality before and during the Great Recession. We then investigate how households in different segments of the wealth distribution were… CONTINUE READING
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