HANK: A New Class of Monetary Models for Policy Analysis, with Ben Moll (LSE)

We discuss about the new insights generated by so-called Heterogeneous Agent New Keynesian (HANK) models. HANK models allow taking into account household heterogeneity when analyzing monetary policy. Ben Moll is one of the founding fathers of this model classs and Professor of Economics at the London School of Economics. For readers wishing to read up on this topic, here is a non-technical summary of the insights: https://www.imf.org/en/Publications/fandd/issues/2023/03/modern-monetary-policy-kaplan-moll-violante