"An inviting tour of modern macroeconomics-culminating in HANK, a modern framework that will transform the way we understand our economy and the policies that shape it. Macroeconomics and macroeconomic policies shape our lives in profound ways, influencing everything from the price of groceries to the likelihood we'll have a job next year. But much of what we hear about macroeconomics-from politicians, pundits, and even professors-bears little resemblance to how economists think about policy or to people's actual experiences. Clearly, economists haven't done a great job explaining their work to us-until now. Macro is an inviting tour through the world of modern macroeconomics, taking readers to the research frontier-HANK, a framework that will change how we see inflation, debt, recessions, and more.? In clear and engaging prose, Chicago economist Greg Kaplan demystifies how our everyday behavior connects to the biggest questions in fiscal and monetary policy. Tracing the evolution of economic thinking from Keynes to today, he guides readers through the models used to explain our economy, uncovers their flaws, and reveals what cutting-edge research tells us about managing the economy in good times and bad. These earlier models are valuable, Kaplan argues, but those that underlie much of conventional wisdom are fundamentally out of touch with the realities of how people spend and save, particularly the millions of Americans living paycheck to paycheck"-- Provided by publisher