Roth, Christopher; Wiederholt, Mirko; Wohlfart, Johannes - 2023
We study the effects of monetary policy on aggregate consumption combining a heterogeneous agent model with measured … March 2021 would have reduced aggregate consumption by 0.14 percent on impact and an interest rate hike of 40 basis points … in March 2022 would have reduced aggregate consumption by 0.30 percent on impact. …