Currentworks

A Temporary VAT Cut as Unconventional Fiscal Policy
We exploit the unexpected announcement of an immediate, temporary VAT cut in Germany in the second half of 2020 as a natural experiment …
Rüdiger Bachmann, Benjamin Born, Olga Goldfayn-Frank, Georgi Kocharkov, Ralph Luetticke, Michael Weber
Posted Nov 10, 2022
Cite NBER-WP29442 Ungated Feature @ BFI VoxEU
Financial Frictions: Macro vs Micro Volatility
We introduce frictional financial intermediation into a HANK model. Households are subject to idiosyncratic and aggregate risk and …
Seungcheol Lee, Ralph Luetticke, Morten Ravn
Posted Aug 12, 2021
Cite CEPR DP15133 Ungated