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Session 7: Macroeconomics and Inequality

August 27 - 29, 2018

Organized by:

  • Adrien Auclert, Stanford University
  • Kurt Mitman, Institute for International Economic Studies, Stockholm
  • Martin Schneider, Stanford University
  • Chris Tonetti, Stanford Graduate School of Business

Macroeconomics increasingly emphasizes inequality. When heterogeneous agents interact in frictional markets, macro aggregates depend on the distribution of wealth and cannot be characterized by a representative agent.  At the same time, macro shocks and policies have redistributive effects. This session aims to bring together researchers working on macro and inequality. We welcome theoretical work on heterogeneous agent models, empirical studies with micro data and combinations thereof. We expect to attract both macroeconomists as well as applied micro economists working on labor economics, firm dynamics, international economics, urban economics and household finance.

In this Session

Aug 27 | 9:00 am to 10:00 am

State Dependency and the Efficacy of Monetary Policy: The Refinancing Channel

Presented by: Arlene Wong, Princeton University
Co-Author(s): Martin Eichenbaum, Northwestern University; Sergio Rebelo, Northwestern University, Kellogg School of Management
Aug 27 | 10:30 am to 11:30 am

Forward Guidance

Presented by: Kurt Mitman, Institute for International Economic Studies, Stockholm
Co-Author(s): Marcus Hagedorn, University of Oslo; Jinfeng Luo, University of Pennsylvania; Iourii Manovskii, University of Pennsylvania,
Aug 27 | 1:00 pm to 2:00 pm


Presented by: Corina Boar, New York University
Co-Author(s): Mark Aguiar, Princeton University; Mark Bils, University of Rochester
Aug 27 | 2:30 pm to 3:30 pm

Saving Behavior Across the Wealth Distribution

Presented by: Gisle Natvik, BI Norwegian Business School
Co-Author(s): Andreas Fagereng, Statistics Norway; Martin Holm, Statistics Norway; Ben Moll, Princeton University
Aug 27 | 4:00 pm to 5:00 pm

Houses and Families Across Countries

Presented by: Martin Schneider, Stanford University
Co-Author(s): Alessandra Peter, Stanford University; Monika Piazzesi, Stanford University
Aug 28 | 9:00 am to 10:00 am

Sweat Equity in U.S. Private Business

Presented by: Ellen McGrattan, University of Minnesota
Co-Author(s): Anmol Bhandari, University of Minnesota
Aug 28 | 10:30 am to 11:30 am

Neoclassical Growth with Long-Term One-Sided Commitment Contracts

Presented by: Dirk Krueger, University of Pennsylvania
Co-Author(s): Harald Uhlig, University of Chicago
Aug 28 | 1:00 pm to 2:00 pm

Insurance, Efficiency and the Design of Public Pensions

Presented by: Cormac O’Dea, Yale University
Aug 28 | 2:30 pm to 3:30 pm

Social Insurance and Occupational Mobility

Presented by: German Cubas, University of Houston
Co-Author(s): Pedro Silos, Temple University
Aug 28 | 4:00 pm to 5:00 pm

Demographics and Wealth in the 21st Century

Presented by: Adrien Auclert, Stanford University
Co-Author(s): Hannes Malmberg, Stanford University