 The 2010’s saw the development of models incorporating household heterogeneity into the standard New Keynesian framework, commonly referred as `HANK' models (Heterogeneous Agent New Keynesian).In addition to sticky prices, a typical HANK model features uninsurable idiosyncratic labor income risk which gives rise to a non-degenerate wealth distribution.The earliest models with these two features include Oh and Reis (2012), McKay and Reis (2016) and Guerrieri and Lorenzoni (2017).