Category: Macro

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Macro

Heterogeneous agents and policy

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

Macro

On macroeconomic uncertainty

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?

Macro

On government debt sustainability

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

Macro

Macro uncertainty, households and firms

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

Macro

On corporate taxes and investments

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

Macro

On sovereign debt

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?

Macro

Evaluating macro policies

Recent research on how to construct policy counterfactuals.

Macro

Housing prices and inflation

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

Macro

Heterogeneous beliefs, new pricing models and the Phillips curve

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.

Macro

The return of the Beveridge curve

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.

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