@christian-bayer.bsky.social @bborn.bsky.social @ralphluet.bsky.social @hannokase.bsky.social @dajana-xhani.bsky.social [8/8]

Full model details, calibration and applications in the paper. Standing on the shoulders of many giants beyond those already tagged - feedback welcome! @hyunseungoh.bsky.social @r2rsquared.bsky.social @alisdairmckay.bsky.social @jonsteinsson.bsky.social @sorrytobekurt.bsky.social [7/8]

Builds on SSJ toolkit (@aauclert.bsky.social Bardóczy Rognlie @ludwigstraub.bsky.social ), 2-asset HANK (Kaplan @benmoll.bsky.social Violante), SOE literature (Galí @monacelt.bsky.social), long-term nominal debt (Andreolli), behavioural expectations (Gabaix @pfaeutiecon.bsky.social Seyrich). [6/8]

Calibrated to UK micro & macro data - income risk from ASHE, dynamic parameters via IRF matching. Generates realistic wealth inequality & MPCs, and a transmission decomposition aligned with the evidence. Complements COMPASS in the BoE toolkit and has been used in scenarios. [5/8]

To our knowledge, this is the first HANK model integrating housing with household heterogeneity in a SOE. Secured borrowing against housing generates negative financial wealth positions and a redistributive cash-flow channel largely missing from other HANK frameworks. [4/8]

What makes UK-HANK distinctive? It combines rich household heterogeneity - realistic income risk, endogenous tenure choice (renting/owning), housing ladder, secured borrowing, progressive taxes & benefits - w/ detailed international & fiscal blocks in a small open economy. [3/8]

With @albuquerqdan.bsky.social, Ed Hill, Sean Lavender & @jwcat.bsky.social [2/8]

A UK-HANK model Part of the Macro Technical Paper series designed to document models, analysis and conceptual frameworks for monetary policy preparation – they are written by Bank staff to encourage feedback and fost...

🧵 New
@boeresearch.bsky.social Macro Technical Paper: UK-HANK - a Heterogeneous Agent New Keynesian model built for the UK, for scenario analysis of household sector dynamics and monetary policy counterfactuals. www.bankofengland.co.uk/macro-techni... [1/8]

👇 Exciting conference - submit your paper! #econsky #econevents

Latest paper on comparing intergenerational mobility of the kids of migrants with kids of locals in 15 countries. It has a very long author list so I feel like a real scientist at last. www.iza.org/publications...

1/ 🚨 New paper! 🚨
How do the economic trajectories of children of immigrants vary across 15 high-income countries? We study intergenerational mobility of immigrants, using individual-level linked parent-child data across Europe, North America, and beyond. 🧵👇 #EconSky

Which AI tools do you use for lit reviews? I looked into a few for a class (thanks to @ckronenberg.bsky.social for a neat list). Connectedpapers seemed nice, but addresses a very narrow niche. Scite or elicit did not impress (plus, not free so not great for students). Researchrabbit seemed defunct?