Heterogeneous Agent (HA) models yield Marginal Propensities to Consumer that better fit the data. What are the implications  of HA models for stabilization policies?

New research on: How do policymakers react when they feel uncertain about the dynamics of inflation? What is the impact of macro uncertainty on the economy in the long-run?

Two brand new papers on public debt capacity and the importance on debt revenue.

Two new research papers are using Randomized Control Trials to evaluate the effect of macroeconomic uncertainty on household spending and firms’ decisions.

New research using novel methods estimates the effect of both corporate tax hikes and cuts on investments, R&D and productivity.

When is developing country debt odious? What are the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world economy?

Recent research on how to construct policy counterfactuals.

Are housing prices a leading indicator for inflation? Do house prices adjust to monetary surprises with a long lag?

Two new research papers evaluate the impact on the Phillips curve from incorporating a a) distribution of heterogeneous beliefs; and b) price changes that are endogenous and depend both on the state of the economy and the state of the firm.

Brand new research on the importance of the Beveridge curve (the relationship between unemployment and the job vacancy rate) in understanding the true state of the U.S. labor market and implications for monetary policy.