Essays In Heterogeneous Effects Of Monetary Policy2022

My dissertation within monetary macroeconomics focuses on uncovering the impact of micro level heterogeneity in household wealth portfolios and firm size on aggregate macroeconomic variables. Using household- and firm-level datasets, I study these outcomes in the context of exploring the effects of monetary policy shocks. Most macroeconomic models use a representative agent framework to study the effects of monetary policy. In such models all consumers are assumed to be similar, therefore, it is only required to know the size of the monetary policy shock and its average impact to estimate the overall effect. But recent literature has emphasized the importance of agent heterogeneity for explaining observed aggregate dynamics and optimal policy design. Here, it matters which consumers get...