heterogeneity within the euro area. We show that the main source is the asymmetry of shocks affecting the economies and that the … heterogeneity of behaviors does not seem to be of empirical relevance for the euro area. …

policy becomes binding. Finally, the heterogeneity of policy effects across economies is considerable, thus allowing … heterogeneity is more appropriate for estimating policy effects …

In this preliminary version we consider different types of ex-ante heterogeneity (production cost, preferences, market … access, etc.) in a Lagos-Wright (2003) framework. Such heterogeneity generates equilibrium inequality in nominal wealth, or … money holdings. We have two basic objectives. First, we want to understand under what types of heterogeneity a simple …

We construct a monetary economy with heterogeneity in discounting and consumption risk. Agents can insure against this …

mechanism is based on the assumption of heterogeneity across firms. The resulting model performs better than existing frameworks …

aspects of team composition, such as homogeneity and heterogeneity in terms of resource provision and prior start … putting forward the hypotheses that team homogeneity is positively related to short term outcomes whereas team heterogeneity …