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dc.contributor.authorAscherman, Sarah
dc.date.accessioned2020-08-28T10:30:17Z
dc.date.created2020-05
dc.date.issued2020-06-17
dc.date.submitted2020
dc.identifier.citationAscherman, Sarah. 2020. The Effect of Monetary Policy on Output According to BHANK. Bachelor's thesis, Harvard College.
dc.identifier.urihttps://nrs.harvard.edu/URN-3:HUL.INSTREPOS:37364691*
dc.description.abstractThe goal of this thesis is to study whether, and by how much, economic output is affected by monetary policy when agents are rational or behavioral through a Behavioral Heterogeneous Agent New Keynesian (BHANK) model. First, we present the behavioral new Keynesian (BNK) and traditional Heterogeneous Agent New Keynesian (HANK) models. Second, we introduce a myopia parameter to reflect how agents foresee future change in prices, dividends, and interest rates in BHANK. Third, we investigate the output deviation from its steady state response following a monetary policy shock, and quantify the results to assess how myopia impacts central bank policy effectiveness. Finally, we provide insight on possible policy ramifications.
dc.description.sponsorshipApplied Mathematics
dc.description.sponsorshipApplied Mathematics
dc.format.mimetypeapplication/pdf
dc.language.isoen
dash.licenseLAA
dc.titleThe Effect of Monetary Policy on Output According to BHANK
dc.typeThesis or Dissertation
dash.depositing.authorAscherman, Sarah
dc.date.available2020-08-28T10:30:17Z
thesis.degree.date2020
thesis.degree.grantorHarvard College
thesis.degree.grantorHarvard College
thesis.degree.levelUndergraduate
thesis.degree.levelUndergraduate
thesis.degree.nameAB
thesis.degree.nameAB
dc.type.materialtext
thesis.degree.departmentApplied Mathematics
thesis.degree.departmentApplied Mathematics
dash.identifier.vireo
dash.author.emailaschermans97@gmail.com


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