“Microeconomic Heterogeneity and Macroeconomic Shocks”
E1016915
“Microeconomic Heterogeneity and Macroeconomic Shocks” is an influential economics paper by Greg Kaplan that analyzes how differences across individual households shape the aggregate effects of macroeconomic disturbances.
All labels observed (1)
| Label | Occurrences |
|---|---|
| “Microeconomic Heterogeneity and Macroeconomic Shocks” canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T13037971 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: “Microeconomic Heterogeneity and Macroeconomic Shocks” Context triple: [Greg Kaplan, notableWork, “Microeconomic Heterogeneity and Macroeconomic Shocks”]
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A.
The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
"The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks" is an influential empirical economics paper that quantifies how exogenous tax policy changes impact output and other key macroeconomic variables.
-
B.
Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?
"Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?" is an influential macroeconomics paper by Jordi Galí that empirically evaluates the ability of real business cycle models driven by technology shocks to explain postwar U.S. economic fluctuations.
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C.
American Economic Review: Macroeconomics
American Economic Review: Macroeconomics is a field journal of the American Economic Association that publishes leading research on macroeconomic theory, policy, and empirical analysis.
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D.
Recursive Macroeconomic Theory by Lars Ljungqvist and Thomas J. Sargent
"Recursive Macroeconomic Theory" by Lars Ljungqvist and Thomas J. Sargent is a graduate-level textbook that develops modern dynamic macroeconomics using recursive methods, with a strong emphasis on rigorous microfoundations and applications to topics such as growth, unemployment, and monetary and fiscal policy.
-
E.
“Models of Business Cycles”
“Models of Business Cycles” is an influential economics book by Robert Lucas Jr. that develops a rigorous, microfounded theory of business cycle fluctuations using rational expectations and real business cycle methodology.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: “Microeconomic Heterogeneity and Macroeconomic Shocks” Target entity description: “Microeconomic Heterogeneity and Macroeconomic Shocks” is an influential economics paper by Greg Kaplan that analyzes how differences across individual households shape the aggregate effects of macroeconomic disturbances.
-
A.
The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
"The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks" is an influential empirical economics paper that quantifies how exogenous tax policy changes impact output and other key macroeconomic variables.
-
B.
Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?
"Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?" is an influential macroeconomics paper by Jordi Galí that empirically evaluates the ability of real business cycle models driven by technology shocks to explain postwar U.S. economic fluctuations.
-
C.
American Economic Review: Macroeconomics
American Economic Review: Macroeconomics is a field journal of the American Economic Association that publishes leading research on macroeconomic theory, policy, and empirical analysis.
-
D.
Recursive Macroeconomic Theory by Lars Ljungqvist and Thomas J. Sargent
"Recursive Macroeconomic Theory" by Lars Ljungqvist and Thomas J. Sargent is a graduate-level textbook that develops modern dynamic macroeconomics using recursive methods, with a strong emphasis on rigorous microfoundations and applications to topics such as growth, unemployment, and monetary and fiscal policy.
-
E.
“Models of Business Cycles”
“Models of Business Cycles” is an influential economics book by Robert Lucas Jr. that develops a rigorous, microfounded theory of business cycle fluctuations using rational expectations and real business cycle methodology.
- F. None of above. chosen
Statements (39)
| Predicate | Object |
|---|---|
| instanceOf |
academic article
ⓘ
economics paper ⓘ |
| analyzes |
aggregate effects of macroeconomic disturbances
ⓘ
differences across individual households ⓘ |
| author | Greg Kaplan ⓘ |
| contribution |
highlights importance of distributional state for aggregate dynamics
ⓘ
links household-level behavior to macroeconomic policy analysis ⓘ shows how micro-level heterogeneity shapes macroeconomic responses ⓘ |
| discipline | economics ⓘ |
| field |
household finance
ⓘ
macroeconomics ⓘ microeconomics ⓘ |
| focusesOn |
heterogeneity in income and wealth
ⓘ
heterogeneity in marginal propensities to consume ⓘ role of household balance sheets in macroeconomic transmission ⓘ |
| influentialFor |
policy analysis incorporating household heterogeneity
ⓘ
research on distributional macroeconomics ⓘ research on heterogeneous-agent New Keynesian models ⓘ |
| language | English ⓘ |
| mainTopic |
aggregate consumption dynamics
ⓘ
distributional effects of macroeconomic shocks ⓘ heterogeneous-agent models ⓘ macroeconomic shocks ⓘ microeconomic heterogeneity ⓘ |
| relatedConcept |
aggregate demand
ⓘ
consumption insurance ⓘ fiscal policy transmission ⓘ idiosyncratic risk ⓘ income distribution ⓘ incomplete markets ⓘ monetary policy transmission ⓘ wealth distribution ⓘ |
| shows |
aggregate outcomes depend on distribution of household states
ⓘ
representative-agent models can miss key distributional channels ⓘ |
| studies |
aggregate implications of micro-level behavior
ⓘ
household responses to macroeconomic disturbances ⓘ |
| usesMethod |
calibrated structural model of households
ⓘ
heterogeneous-agent general equilibrium framework ⓘ quantitative macroeconomic modeling ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: “Microeconomic Heterogeneity and Macroeconomic Shocks” Description of subject: “Microeconomic Heterogeneity and Macroeconomic Shocks” is an influential economics paper by Greg Kaplan that analyzes how differences across individual households shape the aggregate effects of macroeconomic disturbances.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.