Malaysia HANK Model Interactive Dashboard

Model Overview

Model Type: Heterogeneous Agent New Keynesian (HANK)

Country: Malaysia

Data Vintage: HIES 2022, BNM 2024

Key Features: B40/M40/T20 income groups, heterogeneous MPCs, OPR transmission

Counterfactual Policy Selector

Key Parameters

Parameter	Value	Description
Discount Factor (β)	0.96	Annual discount factor
Risk Aversion (σ)	2.0	CRRA coefficient
Income Persistence (ρ)	0.95	AR(1) coefficient
Wealth Gini	0.38	Target from HIES data
Aggregate MPC	0.30	Target from BSH studies
Hand-to-Mouth Share	0.38	Target from HIES

Impulse Response Functions

Distributional Effects

Model Fit: Data vs Model Moments

Documentation

This dashboard presents results from a Heterogeneous Agent New Keynesian (HANK) model calibrated for Malaysia.

Key Insights:

Fiscal transfers to B40 have higher MPCs (0.75) than monetary policy
Monetary policy has more persistent effects but benefits wealthy more
Model matches Malaysian data on wealth distribution and MPCs