New York Fed: 'Nonlinear Micro Income Processes With Macro Shocks'
August 21, 2025
August 21, 2025
NEW YORK, Aug. 21 (TNSLrpt) -- The Federal Reserve Bank of New York issued the following staff report (No. 1162) in August 2025 by Martin Almuzara, Manuel Arellano, Richard Blundell, and Stephane Bonhomme entitled "Nonlinear Micro Income Processes with Macro Shocks."
Here are excerpts:
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We propose a nonlinear framework to study the dynamic transmission of aggregate and idiosyncratic shocks to household income that exploits both macro and micr . . .
Here are excerpts:
* * *
We propose a nonlinear framework to study the dynamic transmission of aggregate and idiosyncratic shocks to household income that exploits both macro and micr . . .