@TechReport{Ferlaino2025,
  author={Francesco Ferlaino},
  title={{Effects of different financial frictions on households}},
  year=2025,
  month=May,
  institution={Department of Economics and Law, Sapienza University of Roma},
  type={Working Papers in Public Economics},
  url={https://ideas.repec.org/p/sap/wpaper/wp263.html},
  number={263},
  abstract={This study examines how different types of financial frictions influence household wealth and consumption inequality in response to a contractionary monetary policy shock. The analysis considers two key frictions: those affecting production firms and those related to household borrowing, both incorporated into a HANK model. The results suggest that frictions in the productive sector have a stronger impact on wealth inequality, whereas frictions in household borrowing lead to greater consumption dispersion relative to the counterfactual scenario. This divergence primarily arises from dynamics around the zero-wealth threshold, particularly the behavior of the household borrowing spread.},
  keywords={Heterogeneous agents; financial frictions; monetary policy; New Keynesian models; inequalities},
  doi={},
}