Chang, Minsu <br/><br/>
Heterogeneity and Aggregate Fluctuations 

 -  Journal of Political Economy  2024 
 - 4021 - 4067 
<br/><br/> We develop a state-space model with a transition equation that takes the form of a functional vector autoregression (VAR) and stacks macroeconomic aggregates and a cross-sectional density. The measurement equation captures the error in estimating log dens 
<br/><br/><label>Subjects--Topical Terms: </label><br/> GDP<br/> Heterogeneity<br/> Vector Autoregression (VAR)<br/>Macroeconomics