Inequality and Aggregate Demand
---- Acknowledgments ----
We thank Mark Aguiar, Romain Baeriswyl, Eduardo Dávila, Gauti Eggertsson, Emmanuel Farhi, Andrea Ferrero, Greg Kaplan, Ralph Luetticke, Alisdair McKay, Neil Mehrotra, Ben Moll, Ezra Oberfield, Stavros Panageas, Pontus Rendahl, David Romer, Kathrin Schlafmann, Paolo Surico and Iván Werning for detailed comments and discussions, and participants at many conferences and seminars for their feedback. Yoko Shibuya and Andrés Yany provided valuable research assistance. Adrien Auclert and Matthew Rognlie thank the Washington Center for Equitable Growth and the Institute for New Economic Thinking, respectively, for financial support. The authors also thank Princeton University for its hospitality during part of this research. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.