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Session 14: Macroeconomics and Inequality

September 11-13, 2019 | Landau Economics Bldg, 579 Serra Mall, Room 134 (A), Stanford

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.

Just like last year, 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 microeconomists working on labor economics, firm dynamics, international economics, urban economics and household finance.

Organizers: Adrien Auclert (Stanford), Kurt Mitman (IIES Stockholm), Martin Schneider (Stanford), Chris Tonetti (Stanford Graduate School of Business) and Arlene Wong (Princeton University)

In this Session

Sep 11 | 8:30 am to 9:00 am

Check-in | Breakfast

Sep 11 | 9:00 am to 10:00 am

Shocks and Frictions in US Business Cycles with Heterogeneous Agents

Presented by: Ralph Luetticke (University of College London)
Co-Author(s): Christian Bayer (University of Bonn) and Benjamin Born (Frankfurt School of Finance & Management)
Sep 11 | 10:00 am to 10:30 am

Break

Sep 11 | 10:30 am to 11:30 am

Redistribution, Risk Premia, and the Macroeconomy

Presented by: Rohan Kekre (University of Chicago Booth School of Business)
Co-Author(s): Moritz Lenel (Princeton University)
Sep 11 | 11:30 am to 12:00 pm

Break

Sep 11 | 12:00 pm to 1:00 pm

Monetary Policy in Incomplete Markets Models: Theory and Evidence

Presented by: Kurt Mitman (IIES Stockholm)
Co-Author(s): Marcus Hagedorn (University of Oslo), Lourii Manovskii (University of Pennsylvania)
Sep 11 | 1:00 pm to 2:00 pm

Lunch

Sep 11 | 2:00 pm to 3:00 pm

Markups and Inequality

Presented by: Corina Boar (NYU)
Co-Author(s): Virgiliu Midrigan (NYU
Sep 11 | 3:00 pm to 3:30 pm

Break

Sep 11 | 3:30 pm to 4:30 pm

Trickle-Down Housing Economics

Presented by: Charlie Nathanson (Northwestern University)
Sep 11 | 4:30 pm to 5:00 pm

Break

Sep 11 | 5:00 pm to 6:00 pm

Learning about Housing Cost

Presented by: Fabian Kindermann (University of Regensburg)
Co-Author(s): Julia Le Blanc (Research Centre of Deutsche Bundesbank), Monika Piazzesi (Stanford University), Martin Schneider (Stanford University)
Sep 11 | 6:30 pm

Dinner

Sep 12 | 8:30 am to 9:00 am

Breakfast

Sep 12 | 9:00 am to 10:00 am

Peer Effects and Markups in Product Markets

Presented by: Arlene Wong (Princeton)
Co-Author(s): Michael Bailey (Facebook), Theresa Kuchler (NYU Stern School of Business), and Johannes Stroebel (NYU Stern School of Business)
Sep 12 | 10:00 am to 10:30 am

Break

Sep 12 | 10:30 am to 11:30 am

The Rise of Niche Consumption

Presented by: Joseph Vavra (University of Chicago)
Co-Author(s): Brent Neiman (University of Chicago Booth School of Business)
Sep 12 | 11:30 am to 12:00 pm

Break

Sep 12 | 12:00 pm to 1:00 pm

Job Search Behavior Among the Employed and Non-employed

Presented by: Aysegul Sahin (The University of Texas at Austin)
Co-Author(s): Jason Faberman (Federal Reserve Bank of Chicago), Andreas Mueller (University of Texas, Austin), and Giorgio Topa (Federal Reserve Bank of New York)
Sep 12 | 1:00 pm to 2:00 pm

Lunch

Sep 12 | 2:00 pm to 3:00 pm

Demand-Driven Labor Market Polarization

Presented by: Marti Mestieri (Northwestern University)
Co-Author(s): Diego Comin (Dartmouth College) and Ana Danieli (Northwestern University)
Sep 12 | 3:00 pm to 3:30 pm

Break

Sep 12 | 3:30 pm to 4:30 pm

Financing Insurance

Presented by: Adriano Rampini (Duke University)
Co-Author(s): S. Viswanathan (Duke University)
Sep 12 | 4:30 pm to 5:00 pm

Break

Sep 12 | 5:00 pm to 6:00 pm

Risky Insurance

Presented by: Joseph Briggs (Federal Reserve Board of Governors)
Co-Author(s): Chris Tonetti (Stanford Graduate School of Business)
Sep 12 | 6:30 pm

Dinner

Sep 13 | 8:30 am to 9:00 am

Breakfast

Sep 13 | 9:00 am to 10:00 am

Pareto Extrapolation: Bridging Theoretical and Quantitative Models of Wealth Inequality

Presented by: Alexis Toda (UC San Diego)
Co-Author(s): Emilien Gouin-Bonenfant (UC San Diego)
Sep 13 | 10:00 am to 10:15 am

Break

Sep 13 | 10:15 am to 11:15 am

A Theory of Human Capital Specialization

Presented by: Titan Alon (UC San Diego)
Sep 13 | 11:15 am to 11:30 am

Break

Sep 13 | 11:30 am to 12:30 pm

Human Frictions to the Transmission of Economic Policy

Presented by: Michael Weber (University of Chicago)
Co-Author(s): Francesco D'Acunto (Boston College), Daniel Hoang (Karlsruhe Institute of Technology) and Maritta Paloviita (Bank of Finland)