Harald Uhlig
Bruce Allen and Barbara Ritzenthaler Professor of
Economics
Curriculum
Vitae
update: July 2020
Personal data:
Full name: Harald
Friedrich Hans Volker Sigmar Uhlig
e-mail: huhlig@uchicago.edu
Home page: http://economics.uchicago.edu/facstaff/uhlig.shtml
Office address:
Department
of Economics
The University of Chicago
Saieh
Hall of Economics #317
5757 South University Avenue
Chicago, IL 60637
USA
Phones:
(+01) (773) 702-3702 (office)
Executive
Assistant:
Sonia
Doyle, sdoyle1@uchicago.edu
(+01) (773) 702-9013
(+01)
(773) 702 8490 (fax)
(+01)
(773) 834 3452 (fax, alternative)
Citizenship : German
Major fields of concentration:
Main: Macroeconomics
Topics of Interest:
Applied quantitative theory and
applied dynamic, stochastic general equilibrium theory:
- Business Cycles
- Growth
- Dynamic Contracts
- Psychological Foundations of
Dynamic Decision Theory
- Economic Policy
The Intersection of Macroeconomics
and Financial Economics:
- Monetary Economics
- Asset Pricing
- Financial Crises
Methods:
- Vector Autoregressions
- (Bayesian) time series
econometrics
- Numerical Methods
Education:
Ph.D. in economics, University of
Minnesota, 1990
Diplom in mathematics, Technische Universität Berlin, 1985
Vordiplom in economics, Technische Universität Berlin, 1983
Vordiplom in mathematics, Technische Universität Berlin, 1982
Abitur (high school diploma), Waldoberschule Berlin, 1979
Positions held
- 2018-07-01:
Bruce Allen and Barbara Ritzenthaler Professor of Economics
- 2013-… :
consultant at the European Central Bank
- 2007-2020
: consultant at the Federal Reserve Bank of Chicago
- 2009-2012:
Chairperson of the Department of Economics at the University of Chicago
- 2007-…:
Professor of Economics at the University of Chicago, Department of
Economics
- 2004-... :
„Forschungsprofessor“ (Guest
Researcher) at the Bundesbank
- 2002 - 2004 :
„Forschungsprofessor“ (Guest Researcher) at DIW Berlin
- 2000 - 2007 : Professor of Economics at
Humboldt University, Berlin.
- 2000 - 2012 : Part-time Professor (“10%”) at
CentER for Economic Research, Tilburg University (the Netherlands).
- 1999 - 2000: Visiting Professor at the
Department of Economics, Stanford
University (sabbatical from Tilburg University)
- 1994 - 2000: Research Professor for
Macroeconomics, CentER for Economic Research, Tilburg University
(the Netherlands).
- 1993, 1994 : Guest Lecturer
("Lehrstuhlvertretung"), University
of Bonn, Germany.
- 1992 - 1993 : Sabbatical from Princeton, visiting CES (Munich), Bonn and Chicago (Visiting Assistant Professor).
- 1990 - 1994 : Assistant Professor, Department
of Economics, Princeton
University.
- 1986 - 1989 : Research Assistant for
Professor Christopher A. Sims at the Federal Reserve Bank of Minneapolis and at the Institute for
Empirical Macroeconomics.
- 1987 : Teaching Assistant, University of Minnesota.
Full responsibility for Econ 3102, "intermediate
macroeconomics," summer school.
- 1982 - 1985 : Student Teaching Assistant
("Tutor") for mathematics at the Technical University of Berlin.
Honors, awards and fellowships:
- 2018-07-01:
Bruce Allen and Barbara Ritzenthaler Professor of Economics
- 2017:
Named Honorary Professor at Henan University, China
- 2013 (stays: February, August): Duisenberg Fellow at the European Central
Bank.
- June 2012:
Nottingham University, Granger Lecture.
- December 2005: Frank P. Ramsey Prize for the best paper in "Macroeconomic
Dynamics" during the second four years of publication, 2001-2004, for
the article "The Sharpe Ratio and Preferences: A Parametric
Approach," MD, vol. 6, no. 2
(April 2002), 202-241, with Martin Lettau.
- December 2003: Elected Fellow
of the Econometric Society
- October 2003: Gossen-Preis
of the Verein für Socialpolitik
- May 1990 : Participant of the Review of
Economic Studies European Meetings of seven recent Ph.Ds in economics
to present their paper in London,
Barcelona
and Tel Aviv.
- 1989 - 1990 : Alfred P. Sloan Doctoral
Dissertation Fellowship, Alfred P. Sloan
Foundation, New York.
- 1989 - 1990 : Dissertation Support Award,
National Bureau of Economic Research's Committee on Dissertation Support
Awards, NBER, Cambridge,
MA.
- 1986 - 1987 : Graduate School
Fellowship, Department of Economics, University of Minnesota.
- 1985 - 1986 : Fulbright
Scholarship.
- 1981 - 1985 : Stipendiat der Studienstiftung des deutschen Volkes
(member of the German Scholarship Foundation).
Grants:
- 1998 - 2003: NASEF (New Approaches to the
Study of Business Fluctuations), a TMR network grant, joint with ECARE,
Carlos III, Humboldt U., IMOP, Modena, EUI, UCL (London), CEPR.
- 2000 - ... : A "Teilprojekt" in
the "Sonderforschungsbereich 373" of the Department of Economics,
Humboldt University
Berlin
- 2001 - ... : Involved in raising the funds
for the Deutsche Bank Visiting Professorship for International Research in
Economics at the Department of Economics, Humboldt University.
- 2002 – 2003:
Coordinator for the Guest Professorship for International Research in
Economics at Humboldt
University, financed by a grant
of Deutsche Bank.
- 2002 - 2006: MAPMU (Macroeconomic Policy
Design for Monetary Unions), a RTN network grant, joint with CREI (Gali,
Barcelona), CEPR (Mihov, London), EPRU (Jensen, Kopenhagen), EUI (Perotti,
Florence), LBS (Ravn, London), GIIS (Wyplosz, Geneva) and UvA (Beetsma,
Amsterdam), see http://www.cepr.org/research/networks/mapmu/
- 2005-2007: Sonderforschungsbereich ("collaborative research
center", a block grant to a number of scientists working together)
SFB 649 "Ökonomisches Risiko".
http://sfb649.wiwi.hu-berlin.de/. Was elected "Sprecher" (coordinator)
in 2005. Resigned in June 2007, due
to job change to the University
of Chicago.
- 2009-2011: NSF grant SES-0922550 on “Aggregate risks and aggregate
allocations”.
- 2011-2014:
INET grant 2866, “Understanding Macroeconomic Fragility”
- 2012-2015: NSF grant SES-1227280 on “Understanding Macro Risks”.
- 2017:
MFM grant (co-PI, with Dirk Krueger, U Penn), “Noeclassical growth with
one-sided commitment contracts”
- 2017:
BFI-MFRI data acquisition grant “Mortgage-Backed Securities and the
Financial Crisis of 2008: a Post Mortem”
- 2018-2021: NSF grant SES-1757084 (co-PI, with Dirk Krueger, U Penn) on
“Neoclassical Growth with Long-Term One-Sided Commitment Contracts.”
- 2020-2021; Banque de France Grant,
“Cryptocurrencies, Currency Competition and Monetary Policy,” joint with
Pierpaolo Benigno and Linda Schilling.
Memberships and Editorships:
- Advisory Board of Journal of
Risk and Financial Management since July 2020.
- Member of the Econometric
Society Nominating Committee 2019
- Member of the ASSA Session
Allocation and Participant Committee, 2015-now.
- Elected Regional Representative
of North America for the Econometric Society, 2015.
- Member of the Advisory Board of
the UBS International Center of Economics in Society at the University of
Zurich, since 2015.
- Expert witness at the German
constitutional court (BVerfG) in June 2013, on the OMT programme of the
ECB
- Head Editor, Journal of
Political Economy, since July 2013.
Suspended June 12, 2020, re-instated June 22, 2020
- Co-Editor, Journal of Political
Economy, since April 2012
- NBER Research Associate (EFG),
since May 2008
- Scientific Board Member,
Mannheim Graduate School in Economics and Social Sciences, since 2008.
- Co-Editor of Econometrica, July
2006-June 2010
- Member
of several nominating committees of the Econometric Society.
- European
member of the council of the Econometric Society, 2006-2008.
- Rotary “Berlin-Brandenburger
Tor”, 2005-2008.
- Chair of the CEPR European
Business Cycle Dating Committee, 2005-2012
- Member of the CEPR European
Business Cycle Dating Committee, 2003-2012
- Regional Consultant (Austria,
Germany) for the European Winter Meetings of the Econometric Society,
2003-2007
- Mitglied des makro-ökonomischen
Ausschusses des Vereins für Socialpolitik, since 2003
- Mitglied des wissenschaftlichen
Beirates des RWI (Essen), 2003
- Member of the scientific
advisory board of CREI (Barcelona),
since 2003
- Vertrauensdozent der Studienstiftung
des deutschen Volkes, 2002-2007
- Mitglied des theoretischen
Ausschusses des Vereins für Socialpolitik
- Mitglied des ökonometrischen
Ausschusses des Vereins für Socialpolitik
- Associate editor for the
Journal of Economic Dynamics and Control, 1995 - 1998
- Associate editor for the Review
of Economic Studies, 1996-2006
- Associate editor for
Macroeconomic Dynamics 1997 - 2002
- Co-Editor of the European
Economic Review, 1997 - 2001.
- Associate editor of
Computational Economics 1998 - ca. 2002
- Associate editor of Econometric
Theory 2000
- Associate editor of the Bepress
Journal of Macroeconomics 2000
- Associate editor of the Journal
of Financial Econometrics 2001 - ca. 2004
- "Monitoring the European
Central Bank" (MECB) group, a CEPR initiative, 1998-2007.
- CEPR Research Fellow (Financial
Economics, International Macroeconomics).
- Econometric Society, American
Economic Association, European Economic Association.
PhD students:
- Erik Canton (Tilburg, ca 1995)
- Francis Kumah (Tilburg, ca
1996)
- Jan Fidrmuc (Tilburg, ca 1997)
- Almuth Scholl (HU Berlin, 2005)
- Emanuel Mönch (HU Berlin, 2006)
- Matthias Trabandt (HU Berlin,
2007)
- Georg Man (HU Berlin, 2008)
- Christian Stoltenberg (HU Berlin,
2008)
- Alexander Kriwoluzky (HU
Berlin, 2008)
- Martin Kliem (HU Berlin, 2008)
- Stefan Ried (HU Berlin, 2008)
- Pooyan Amir Ahmadi (HU Berlin, 2008)
- Alejo Costa (University of
Chicago, 2010)
- Sergio Salas Landeau
(University of Chicago, 2010)
- Gideon Magnus (University of
Chicago, 2011)
- Hiroatsu Tanaka (University of
Chicago, 2011)
- Francisco Roch (University of
Chicago, 2012)
- Thorsten Drautzburg (University
of Chicago, 2013)
- Lorenzo Ernesto Bernal Verdugo
(University of Chicago, 2013)
- Aditya Bhave (University of
Chicago, 2014)
- Bong Geun Choi (University of
Chicago 2016)
- Daniel Xie (University of
Chicago 2017)
Organizing committees:
- EEA 94 (European Economic
Association): member of the programme committee.
- ESEM 94 (Econometric Society
European Meeting): member of the programme committee.
- EEA 96: member of the programme
committee.
- ESEM 96: member of the
programme committee (both for theory and econometrics).
- NAKE day, November 1997.
- ES (Econometric Society)
American Winter Meetings, New
Orleans, 1997: member of the programme committee.
- ESEM 98: member of the
programme committee
- ESEM 99: member of the
programme committee
- Eight World Congress of the
Econometric Society 2000: member of the programme committee
- Winter Meetings of the
Econometric Society 2003-2005: member of the programme committee
- Co-organized the “Phillips
Curve Revisited” Conference, together with Gustav Horn (DIW, Berlin) and Dennis Snower (IZA, Bonn), May 2003.
- Organized the Berlin leg of the Review of Economic
Studies European Meetings May 2004.
- Co-organized the April 2005 Barcelona conference on
"Macroeconomics and Reality: 25 years later", in honour of the
work of Christopher A. Sims.
- Co-organized the Bundesbank
spring conference / first SFB 649 conference on "Macroeconomic risk
and policy responses", May 2005, in Berlin.
- Part of the scientific
organization committee of the first Prague-Budapest Spring Workshop in
Macroeconomic Theory, Prague,
June 2005.
- Scientific organizer (together
with Alan Mountfort) of the joint Bundesbank-Banque-de-France conference
in Paris, June 2009.
- Winter Meetings of the
Econometric Society 2010: member of the programme committee
- NBER Economic Fluctuations and
Growth conference, San Francisco, February 5th: co-organizer
(together with Andrew Atkeson).
- 2010 World Congress,
Econometric Society, Shanghai: member of the programme committee.
- 2012
BFI-INET conference, “Macroeconomic Fragility”, Chicago, May 2012
- 2013
BFI-INET conference, “Macroeconomic Fragility”, Boston, October 2013
- 2014
BFI-INET conference, “Macroeconomic Fragility”, Chicago, May 2014
- “Handbook
of Macroeconomics: presentation of draft chapters”, in Stanford and
Chicago, both April 2015.
Books:
- Handbook of Macroeconomics,
Vol. 2A/B, edited by John Taylor and Harald Uhlig, Elsevier, North Holland
(2016).
Articles in refereed journals:
- "The Eigenfunctions of a
Compact, Weighted Endomorphism," Proceedings American Mathematical
Society, Vol. 98, No. 1, 1986, pp. 89-93.
- "Reasonable Extreme Bounds
Analysis," Journal of Econometrics, Vol. 44, No. 1/2, 1990, pp. 159-
170, with Clive W.J. Granger.
- "Solving Nonlinear
Stochastic Growth Models: A Comparison of Alternative Solution
Methods," Journal of Business and Economic Statistics, Vol. 8, No. 1,
1990, pp. 1-17, with John B. Taylor.
- "Understanding Unit
Rooters: A Helicopter Tour," Econometrica, Vol. 59, No. 6, 1991, pp.
1591- 1599, with Christopher A. Sims.
- "The Timing of Information
in a General Equilibrium Framework," Journal of Economic Theory, Vol.
59, No. 2, 1993, pp. 275-287, with Jonathan Berk.
- "The Impact of Large
Portfolio Insurers on Asset Prices," Journal of Finance, Vol. 48, No.
5, 1993, pp. 1943-1956, with Glenn Donaldson.
- "On Jeffrey's Prior When
Using the Exact Likelihood Function," Econometric Theory, Vol. 10,
Nos. 3/4, 1994, pp. 633-644.
- "What Macroeconomists
Should Know About Unit Roots: A Bayesian Perspective," presented at
the Yale-NSF Conference "Bayes Methods and Unit Roots",
Econometric Theory, Vol. 10, Nos. 3/4, 1994, pp. 645-671.
- "On Singular Wishart and
Singular Multivariate Beta Distributions," Annals of Statistics, Vol.
22, No. 1, 1994, pp. 395-405.
- "A Law of Large Numbers
for a Large Economy," Economic Theory, vol. 8, 1996, pp. 41-50.
- "Increasing the Capital
Income Tax May Lead to Faster Growth," with Noriyuki Yanagawa,
European Economic Review, 40 (1996), 1521-1540.
- "Bayesian Vector
Autoregressions with Stochastic Volatility," Econometrica, vol. 65,
no. 1 (January, 1997), 59-73
- "Rules of Thumb versus
Dynamic Programming,'' with Martin Lettau, American Economic Review, vol.
89, no. 1 (March, 1999), 148-174.
- "Growth and the Cycle:
Creative Destruction versus Entrenchment,'' with Erik Canton, Journal of
Economics, vol. 69 (1999), no. 3, 239-266.
- "Fickle Investors: An
Impediment to Growth?'', with Andrew Scott, European Economic Review 43
(1999), 1345-1370.
- "Can Habit Formation be
Reconciled with Business Cycle Facts?'' with Martin Lettau, Review of
Economic Dynamics, vol. 3, 79-99 (2000).
- "An Analysis of the
Stability Pact,'' with Roel Beetsma, The Economic Journal, October 1999,
546-571.
- "Tax Policy and Aggregate
Demand Management under Catching Up with the Joneses,'' with Lars
Ljungqvist, American Economic Review, June 2000, vol. 90, no. 3, 356-366
- "What is the real story
for interest rate volatility,'' with Andreas Hornstein, German Economic
Review, inaugural issue vol. 1, issue 1, February 2000, 43-67.
- "Should we be Afraid of
Friedman's Rule?", Journal for Japanese and International Economics,
14, 261-303 (2000).
- "The Sharpe Ratio and
Preferences: A Parametric Approach," with Martin Lettau,
Macroeconomic Dynamics, 6(2), April 2002, 242-65.
- "On Adjusting the
HP-Filter for the Frequency of Observations," with Morten Ravn,
Review of Economics and Statistics, 84(2), May 2002, 371-76
- "What are the effects of
monetary policy on output? Results
from an agnostic identification procedure.", Journal of Monetary
Economics 52 (2005), 381-419.
- "Towards a Monthly
Business Cycle Chronology for the Euro Area," with Emanuel Mönch,
Journal of Business Cycle Measurement and Analysis, vol. 2, no. 1 (2005),
43-69.
- "Employment duration and
resistance to wage reductions," with M. Burda, W. Güth and G.
Kirchsteiger, Homo Oeconomicus, 22 (2005), 169-189.
- "Competitive Risk Sharing
Contracts with One-Sided Commitment.", with Dirk Krüger, Journal of
Monetary Economics 53 (2006), 1661-1691.
- "Debt Contracts and
Collapse as Equilibrium Phenomena," with Hans Gersbach, Journal of
Financial Intermediation, 15 (2006), 556-574.
- “Should smart investors buy
funds with high past returns?”, with Frederic Palomino, Review of Finance,
vol. 11, no. 1 (2007), 51-70.
- "On the Coexistence of
Banks and Markets", with Hans Gersbach, Scandinavian Journal of
Economics, 109(2) (2007), 225-243.
- “New Evidence on the Puzzles: Results
from Agnostic Identification on Monetary Policy and Exchange Rates”, with
Almuth Scholl, Journal of International Economics, vol. 76, no. 1,
September 2008, 1-13.
- “The slow decline of East
Germany”, Journal of Comparative Economics, vol 36, issue 4 (December
2008), 517-541.
- "What are the Effects of Fiscal Policy
Shocks?", with Andrew Mountford, Journal of Applied Econometrics,
vol. 24 (April 2009), 960-992
- “A Model of a Systemic Bank
Run”, Journal of Monetary Economics 57 (2010), 78-96.
- “The
Laffer curve revisited,” with Mathias Trabandt, Journal of Monetary
Economics 58 (2011), 305-327.
- "Bank
Finance versus Bond Finance," with Fiorella de Fiore, Journal of Money, Credit and
Banking (2011), Blackwell Publishing, vol. 43(7), pages
1399-1421, October.
- “Transitions
in the German labor market: Structure and crisis,” with Michael U. Krause,
Journal of Monetary Economics 59 (2012), 64-79.
- “Unit
Roots in White Noise”, with Alexei Onatski, Econometric Theory 28, 2012,
485-508.
- “Sovereign
Default Risk and Banks in a Monetary Union,” German Economic Review
(2013), vol. 15(1), 23-41.
- “Fiscal Stimulus and Distortionary
Taxation”, with Thorsten Drautzburg, Review of Economic Dynamics, October
2015, vol. 18, no. 4, 894-920.
- “Comment on the Campbell-Cochrane
Habit Model,” with Lars Ljungqvist, Journal of Political Economy, October
2015, vol. 123, no. 5, 1201-1213.
- "Corporate
Debt Structure and the Financial Crisis," with Fiorella de Fiore, Journal of Money, Credit and
Banking, December 2015, vol. 47, no. 8, 1571-1598.
- “Financial Health Economics”, with Ralph
Koijen and Tomas Philipson, Econometrica, January 2016, vol. 84, no. 1,
195-242.
- “Is Quantity Theory Still Alive?”, with
Pedro Teles and João Valle e Azevedo, The Economic Journal, vol 126, March
2016, 442-464.
- “Bayesian Estimation of a
Dynamic Stochastic General Equilibrium Model with Asset Prices,” with
Martin Kliem, Quantitative Economics, vol. 7, no. 1, March 2016, 257-287.
- “The dynamics of sovereign debt crises and
bailouts”, with Francisco Roch, Journal of International Economics, vol.
114, September 2018, 1-13.
- “A theory of pruning,” with Giovanni
Lombardo, International Economic Review, vol. 59, no. 4, November 2018,
1825-1836.
- “Some Simple Bitcoin Economics,” joint
with Linda Schilling, Journal of Monetary Economics, vol. 106, 2019,
16-26.
Published articles and other publications (not refereed:)
- "Erratum: Reasonable
Extreme-Bounds Analysis," Journal of Econometrics, Vol. 51, Nos. 1/2
1992, pp. 285-286, with Clive W.J. Granger.
- "Increasing the Capital
Income Tax Leads to Faster Growth," extended abstract, Conference
Volume, GMÖOR (Gesellschaft für Mathematik, Ökonomie und Operations
Research), September 1992, published 1993.
- "Comments on 'Bayesian
Analysis of Stochastic Volatility', by E. Jacquier, Polson and P.
Rossi", Journal of Business and Economic Statistics, Vol. 12, No. 4,
1994, pp. 410-412.
- "Effort and the Cycle: A
Short Summary," with Yexiao Xu, in P. Kleinschmidt, A. Bachem, U.
Derigs, D. Fisher, U. Leopold-Wildburger, R. Moehring (eds.), Operations
Research Proceedings 1995, Conference Volume, Springer Verlag, Berlin
(1996), 235-240.
- "Comment on 'Uncertainty,
instrument choice, and the uniqueness of Nash equilibrium: microeconomic
and macroeconomic examples' " by Dale W. Henderson and Ning S. Zhu,
in: Sylvester C.W. Eijffinger and Harry P. Huizinga (Eds.), Positive
Political Economy: Theory and Evidence, Cambridge University Press, Cambridge, 1998, pp. 154-161.
- ``Capital Income Taxation and
the Sustainability of Permanent Primary Deficits,'' in Steven Brakman,
Hans van Ees and Simon K. Kuipers, eds., Market Behaviour and
Macroeconomic Modelling, Macmillan Press LTD, 1998, 309-337.
- The ECB: Safe at Any Speed?
Monitoring the European Central Bank 1. A CEPR report. Authors: David Begg, Paul de Grauwe,
Francesco Giavazzi, Harald Uhlig, Charles Wyplosz. CEPR, 1998.
- "The robustness of identified
VAR conclusions about money: A Comment", Carnegie-Rochester
conference series, vol. 49, December 1998, pp. 245-263.
- "A toolkit for analysing
nonlinear dynamic stochastic models easily," in Ramon Marimon and
Andrew Scott, eds, Computational Methods for the Study of Dynamic
Economies, Oxford
University Press, Oxford (1999), 30-61.
- MECB Update. A CEPR report,
authors: David Begg, Paul de Grauwe, Francesco Giavazzi, Harald Uhlig,
Charles Wyplosz, 1999.
- "Discussion" of a
paper by McCallum, conference volume, Bundesbank, forthcoming.
- "The Role of National
Central Banks and of Different Policy Cultures", in Charles Wyplosz,
ed., The Impact of EMU on Europe and the Developing Countries, WIDER
Studies in Development Economics, Oxford University Press, 2001, pp.
76-110.
- “A review of Kenneth L. Judd’s
‘Numerical Methods in Economics’, Cambridge, MA: MIT Press 1998”, book
review, Journal of Economic Methodology (2001), vol. 8., no. 3, 434-443.
- Definining a Macroeconomic
Framework for the Euro Area. Monitoring the European Central Bank 3. A CEPR report. Authors: Alberto
F. Alesina, Olivier J. Blanchard, Jordi Gali, Francesco Giavazzi Harald
Uhlig. CEPR, March
2001.
- "How well do we understand
business cycles and growth? Examining the data with a real
business cycle model", in Franz, Wolfgang: Ramser, H.-J.; Stadler, M.
(eds), Empirische Wirtschaftsforschung: Methoden und Anwendungen, vol 32,
Wirtschaftswissenschaftliches Seminar Ottobeuren 2002, Ottobeuren, 09.2002.
Mohr Siebeck, Tübingen, 2003, pp. 295-319.
- “One money, but many fiscal
policies in Europe: what are the
consequences?”, in M. Buti, Monetary and Fiscal Policies in EMU, Cambridge
Univ. Press, 2003, pp. 29-56.
- The Monetary Policy Strategy of
the ECB Reconsidered. Monitoring the European Central Bank 5. A CEPR
report, Authors: Jordi Galí, Stefan Gerlach, Julio Rotemberg, Harald
Uhlig, Michael Woodford. CEPR,
2004.
- “Discussion - Comments on
‘Optimal fiscal and monetary policy under imperfect competition' “, Journal
of Macroeconomics 26 (2004), 211-217.
- "Do Technology Shocks Lead
to a Fall in Total Hours Worked?", Journal of the European Economic
Association, April-May 2004, 2(2-3): 361-371.
- "Comment" on
"The Macroeconomic Effects of Inflation Targeting" by Andrew T.
Levin, Fabio M. Natalucci, and Jeremy Piger, in The Federal Reserve Bank
of St. Louis Review, July/August 2004, vol. 86, no. 4
- "Kydland und Prescott: Die
dynamische Makro", WISU - Das Wirtschaftsstudium, December 2004,
1455-1457.
- "Comment" on
"Monetary Policy in Real Time" by Domenico Giannone, Lucrezia
Reichlin and Luca Sala, in NBER Macroeconomics Annual 2004, MIT Press,
Cambridge MA, 2005, pp. 201-215.
- “Regional Labor Markets,
Network Externalities and Migration: The Case of German Reunification”,
American Economic Review, Papers and Proceedings, vol. 96 (2006), no 2
(May), 383-387
- “Explaining Asset Prices with
External Habits and Wage Rigidities in a DSGE Model”, American Economic
Review, Papers and Proceedings, vol. 97 (2007), no 2 (May), 239-243
- “Approximate Solutions to
Dynamic Models (Linear Methods)”, entry in the New Palgrave Dictionary of
Economics, Steven N. Durlauf and Lawrence E. Blume eds., Palgrave
Macmillan (2008).
- "Pension Systems and the
Allocation of Macroeconomic Risk", with Lans Bovenberg, in ‘NBER
International Seminar on Macroeconomics 2006’, L. Reichlin and K. West,
eds., NBER, University of Chicago Press (2008), 241-323.
- “Monetary policy in Europe vs
the US: what explains the difference?” in Jordi Gali and Mark J. Gertler,
International Dimensions of Monetary Policy, NBER Books, NBER, May 2010,
489-533.
- "Comment" on
"How has the Euro Changed the Monetary Transmission" by Jean
Boivin, Marc P. Giannoni, Benoît Mojon, in NBER Macroeconomics Annual
2008, vol. 23, MIT Press, Cambridge MA, 2009, pp. 141-152.’
- “Some Fiscal Calculus,”
American Economic Review, Papers and Proceedings 2010, vol. 100(2), pp.
30-34.
- “Economics and Reality”, Journal
of Macroeconomics 34 (2012), 29-41.
- "How Do
Laffer Curves Differ Across Countries?," with Mathias
Trabandt, NBER
Chapters, in: Fiscal Policy after the Financial Crisis National
Bureau of Economic Research, Inc. (2012).
- "Agents
as Empirical Macroeconomists: Thomas J. Sargent’s Contribution to
Economics," Scandinavian Journal of
Economics, Wiley Blackwell, vol. 114(4), pages 1055-1081,
December (2012).
- "Interview
with Harald Uhlig,", with István Kónya and Katalin
Szilágyi, MNB
Bulletin, Magyar Nemzeti Bank (the central bank of Hungary),
vol. 8(1), pages 62-67, January (2013).
- “Outright Monetary Transactions
und Target2”, Wirtschaftsdienst 2013, vol. 7, 443-444.
- “Remarks on the OMT Program of
the ECB”, in ‘The ECB’s Outright Monetary Transactions in the Courts,’ H.
Siekmann, V. Vig and V. Wieland, eds., IMFS Interdisciplinary Studies in
Monetary and Financial Stability, 1/2015,Frankfurt.
- “Four types of ignorance:
Discussion,’’ Journal of Monetary Economics, 2015, vol. 69, 114-120.
- ``Comment’’, in NBER
Macroeconomics Annual 2015, Martin Eichenbaum and Jonathan Parker,
eds., The University of Chicago
Press 2016, pp. 257-267.
- “Housing and Credit Markets: Booms
and Busts,” with Veronica Guerrieri, in Handbook of Macroeconomics, vol.
2B, Taylor-Uhlig, eds., Elsevier (2016), 1427-1496.
- “Shocks, Sign Restrictions and
Identification”, chapter 4 in Honoré, B., Pakes, A., Piazzesi, M., & Samuelson, L. (eds.), Advances
in Economics and Econometrics: Eleventh World Congress (Econometric
Society Monographs), Cambridge
University Press (2017), 95-127.
- “The Past, Present, and Future of
Economics: A Celebration of the 125-Year Anniversary of the JPE and of
Chicago Economics: Introduction”, with John List, Journal of Political
Economy 2017, vol. 126, no. 6, 1723-1727.
- “Business Cycles and
International Trade”, Journal of Political Economy 2017, vol. 126, no. 6,
1761-1766.
- “Some simple Bitcoin
economics,” with Linda Schilling, chapter 4 in ‘The Economics of Fintech
and Digital Currencies,’ Antonio Fatás, ed., CEPR Press 2019, CEPR,
London, 31-38.
- “Currency Substitution under Transaction
Costs,” with Linda Schilling, AEA Papers and Proceedings (2019), volume
109, pp. 83-87.
- “Global (Crypto-)Currencies and Currency
Competition,” with Pierpaolo Benigno and Linda Schilling, Crypto Review,
September 2019, vol., 1, pp. 01-03.
- “Macroeconomic Dynamics and Reallocation
in an Epidemic”, joint with Dirk Krüger and Taojun Xie, in Covid Economics
vol. 5, April 2020, CEPR, advertised there as “A Theory of the `Swedish
Solution’ “.
Dissertation:
"Costly Information
Acquisition, Stock Prices and Neoclassical Growth,"; supervisor: C.A.
Sims, University of Minnesota, Department of Economics, 1990.
A partial list of activities:
- 1989 : Invited participant in the
International Symposium on Evolutionary Dynamics and Nonlinear Economics,
April 16-19, Austin,
TX. Presented "Chaos and Linear
Autoregressions."
- 1990 : Invited participant of the Review
of Economic Studies Tour of seven recent Ph.Ds in economics to present
their paper in London,
Barcelona
and Tel Aviv, May.
- 1990 : Invited participant in the Bonn
Workshop in Mathematical Economics, July 1-14, Bonn.
- 1990 : Annual Allied Social Science
Association Meetings, Washington,
D.C., December 28-30.
- 1991: NBER Universities Research
Conference on "The Macroeconomic Effects of Fiscal Policy,", May
10-11.
- 1991 : NBER Summer Institute,
"Financial Markets and Monetary Economics," July 15-18.
- 1991: Northwestern University Summer
Workshop in Economics on "Economic Dynamics," July 23-27.
- 1991 : Econometric Society European
Meeting, Cambridge
(U.K.),
September 2-6. Presented "Can a Government Run a Deficit
Forever?"
- 1992: Annual Allied Social Science
Association Meetings, New Orleans,
January 3-4. Chaired a session on Bayesian Econometrics.
- 1992 : NBER Review Conference for
NBER-NSF Dissertation Support. Presented thesis.
- 1992 : NBER Macroeconomics Annual
Conference, March 6-7.
- 1992 : Yale-NSF Conference on Bayes
Methods and Unit Roots, April 24-25. Presented "What Macroeconomists
Should Know About Unit Roots as Well: The Bayesian Perspective."
- 1992 : Society for Economic Dynamics
and Control Meetings, Montreal,
June 10-12. Presented "Increasing the Capital Income Tax Leads to
Faster Growth."
- 1992 : GMÖOR Meetings (Gesellschaft für Mathematik,
Ökonomie und Operations Research), Hamburg, August 25-28. Presented "Increasing the
Capital Income Tax Leads to Faster Growth" as invited speaker.
- 1992 - 1993 : Sabbatical from Princeton, visiting CES (Munich), Bonn and Chicago.
- 1994 : Northwestern University Summer
Workshop, July 24-31.
- 1994 : Econometric Society European
Meeting and European Economic Association Meeting in Maastricht (The Netherlands), August
29-September 5: member of both programme committees. Presented
"Transition and Financial Collapse" as well as "Rules of
Thumb and Dynamic Programming."
- 1995: Gave NAKE course on business
cycles.
- 1995 : CEPR meetings in Bonn, Jerusalem, Perugia (Italy) and Gerzensee (Switzerland).
Presented "Transition and Financial Collapse," "Can Habit
Formation be Reconciled with Business Cycle Facts," and "Rules
of Thumb and Dynamic Programming."
- 1995 : SEDC meeting in Barcelona. Presented "Effort and the
Cycle: Cyclical Implications of Efficiency Wages," chairing the
session.
- 1995 : Visitor to the Institute for
Empirical Macroeconomics at the Federal Reserve Bank of Minneapolis in June.
- 1995 : Invited speaker at the GMÖOR
(Gesellschaft für Mathematik, Ökonomie und Operations Research) meetings
in Passau,
September 13-15. Presentation of "Effort and the Cycle: What is the
Story?"
- 1996: AEA meetings in San Francisco. Presented "Can Habit
Formation be Reconciled with Business Cycle Facts?"
- 1996 : CEPR meeting in Gerzensee on
Finance and Macroeconomics, January. Discussant.
- 1996: Hydra meeting on
Macroeconomics. Discussant.
- 1996: Visitor to Koc University, Turkey. May.
- 1996: NBER meeting on Public Finance
in Amsterdam,
June. Discussant.
- 1996: Conference on macroeconomics in
Groningen,
June. Presented: "Capital Income Taxation and the Sustainability of
Permanent Primary Deficits."
- 1996: Aarhus meeting, June. Presented:
"The Welfare Effects of a Wasted Capital Income Tax Increase in the
Presence of Uninsurable Idiosynchratic Risk".
- 1996: CEPR Economic Theory Summer
Workshop, Gerzensee, July. Presented "Long Term Debt and the
Political Support for a Monetary Union."
- 1996: Northwestern University Summer Workshop,
July 22nd - 28th.
- 1996: ESEM 96 in Istanbul, August. Presented: "Effort
and the Cycle: Cyclical Implications of Efficiency Wages." Discussant
for Danny Quah.
- 1996: Lecturer in the EEA Summer
School on Computational Economics in Florence,
September.
- 1996: Conference of the "Verein
für Socialpolitik," Kassel,
September. Presented "The Welfare Effects of a Wasted Capital Income
Tax Increase in the Presence of Uninsurable Idiosynchratic Risk".
Discussant.
- 1996: Conference on Financial Markets
in London,
November. Presented "The Welfare Effects of a Wasted Capital Income
Tax Increase in the Presence of Uninsurable Idiosynchratic Risk".
Discussant.
- 1996: CEPR meeting, Barcelona, November. Presented:
"Long Term Debt and the Political Support for a Monetary Union."
- 1996: CEPR meeting, Florence, December. Presented: "Long
Term Debt and the Political Support for a Monetary Union."
- 1997: CEPR meeting Perugia. Discussant.
- 1997: Gave NAKE course on business
cycles.
- 1997: NBER "Money"
meeting, April, Boston.
Presented: "Long Term Debt and the Political Support for a Monetary Union."
- 1997:Visitor to the Stockholm
Institute of International Economics, April.
- 1997: Geneva-Venice Theory workshop,
June, Venice.
Presented: "Rules of Thumb versus Dynamic Programming".
- 1997: CEPR meeting Santiago, June. Co-Author Martin Lettau
presented paper "Volatility Bounds and Preferences: An Analytical
Approach" (new title).
- 1997: NBER summer workshop, July, Boston. Presented: "What are the
effects of monetary policy? Results from an agnostic identification
procedure."
- 1997: Visiting professor at the University of Rochester,
October 1997. Taught six lectures of three hours in the graduate
first-year course in macroeconomics.
- 1997: Carnegie-Rochester Conference
on Public Policy, November (Pittsburgh).
Discussant of Faust.
- 1998: Visit to UCLA, January. Gave
four lectures in a graduate course on ``Monetary Policy: A VAR approach.''
- 1998: CEPR meeting Madrid, January. Presented: "What
are the effects of monetary policy? Results from an agnostic
identification procedure."
- 1998: CEPR meeting York, March. Presented: ``An Analysis of
the Stability Pact.''
- 1998: Verein fur Socialpolitik, ökonometrischer
Ausschuß, March. Presented
"What are the effects of monetary policy? Results from an agnostic
identification procedure."
- 1998: CEPR meeting, London, May. Discussant.
- 1998: ISOM meeting, Portugal,
June. Presented: ``Fickle International Investors: An Impediment to
Growth?'' (with Andrew Scott, LBS).
- 1998:Evaluator of three departments
for the Zentrale Evaluationsagentur Niedersachsen.
- 1998:CEPR-Gerzensee summer workshop
in finance, July. Presented: ``Fickle International Investors: An
Impediment to Growth?'' (with Andrew Scott, LBS).
- 1998:EEA Summer School on Business
Cycles, Paris,
September: gave lecture on ``Modelling Business Cycles''.
- 1999: Bundesbank Conference, March.
Discussant of McCallum.
- 1999: Visitor to the Stockholm
Institute of International Economics, April.
- 1999: Organizer of a CEPR-TMR
conference on "New Approaches to the Study of Economic
Fluctuations" on Hydra,
Greece.
- 1999: Verein fur Socialpolitik, theoretischer
Ausschuß, April. Presented
"Rules of Thumb versus Dynamic Programming" (with Martin Lettau,
Federal Reserve Bank of New York).
- 1999: ISOM 1999, June. Discussant of
Orphanides-Wieland.
- August 1999 - June 2000: Sabbatical, visiting the economics
department at Stanford
University and teaching Econ 103,
Econ 101.
- 1999: WIDER conference on EMU: The
Impact on Europe and the Developing
Countries, November. Presented "The Role of National Central Banks
and of Different Policy Cultures".
- 1999: Conference on Fiscal and
Monetary Policy, UCLA, December. Discussant of Chari.
- 1999: ``Trio'' Conference in Japan.
Presented "Should we be Afraid of Friedman's rule?"
- 2000: Conference at the Bank of Portugal.
Presented "What are the effects of monetary policy? Results from an
agnostic identification procedure."
- 2000: SED conference in Costa Rica. Presented "Should we be
Afraid of Friedman's rule?"
- 2000: Conference on "Monetary
Policy under Incomplete Information", Gerzensee, Switzerland.
Discussant of Bernanke-Boivin.
- 2001: 9th Annual Texas Monetary Conference, Rice University,
Houston, Texas. Presented, "Should we be Afraid of
Friedman's rule?"
- 2001: CEPR Conference on the
Implementation of Monetary Policy Rules at INSEAD, Fontainebleu. Presented, "Should we be Afraid of
Friedman's rule?"
- 2001: CEPR Conference for New
Approaches for the Study of Economic Fluctuations, Hydra. Co-author Andy Mountford presented
"What are the effects of fiscal policy shocks?"
- 2001: Invited Lecture at the
Alicante Meeting , presenting a lecture on my current research on
identifying monetary and fiscal policy shocks.
- 2002: Invited Paper, "One
Money, Many Countries: What are the Consequences?", presented at a
conference of the European Commission in Brussels.
- 2002: CEPR Conference for New
Approaches for the Study of Economic Fluctuations, Hydra. Presented:
"Did the Fed Surprise the Market in 2001? A Case Study for VARs with
Sign Restrictions"
- 2002: CEPR Conference on Fiscal
Policy. Discussant for Roger
Farmer.
- 2002: CEPR ESSIM meeting. Presented: "What moves GNP?"
- 2002: Madeira conference of the Bank of
Portugal. Discussant for Jose Scheinkman.
- 2002: NBER Economic Fluctuation
Summer Meeting. Discussant for Valerie Ramey.
- 2002: ESSET Gerzensee Meeting. Organized a focus session on recursive
contracts. Presented
"Competitive Risk-Sharing Contracts with One-Sided Commitments",
co-author is Dirk Krüger (Stanford
University)
- 2002: Invited Participant to the
Wirtschaftswissenschaftliche Seminar Ottobeuren. Presented: “How well do we understand
business cycles and growth?
Examining the data with a real business cycle model.”
- 2002: Berlin Marathon in 3:44:06.
- 2002: Verein für Socialpolitik, Insbruck. Presented: "What moves GNP?"
- 2003: Konferenz at the Atlanta Federal
Reserve Bank, Discussant for Frank Schorfheide.
- 2003: Bundesbank Konferenz in Eltville. Discussant for Schmitt-Grohe and Uribe.
- 2003: SED Konferenz Paris. Presented „What moves GNP“?
- 2003: Participant in an invited EEA
session. Presented “Do Technology
Shocks lead to a Fall in Total Hours Worked?”
- 2003: Konferenz at the St. Louis
Federal Reserve Bank. Discussant
for Levin, Natalucci and Piger.
- 2003: ECB conference. Presented “What moves GNP?”
- 2003: Berlin Marathon in 3:25:06.
- 2004: Ökonometrischer
Ausschuß. Presented "What
moves GNP?"
- 2004:
NBER Macroeconomics Annual, Boston. Discussant for Giannone-Reichlin-Sala
paper.
- 2004: Portugal Conference, Discussant for
Cogley-Sargent
- 2004:
Invited ESEM lecture, "Macroeconomics and Asset Markets: Some Mutual
Implications."
- 2004: Berlin Marathon in 3:20:58.
- 2004:
CEPR "Bubbles" Conference in Barcelona. Discussant for Caballero-Hammour,
Jermann-Quadrini and Pastor-Veronesi
- 2005: Partipant
in ESRC grant evaluation exercise
- 2005:
Visits to the Hebrew
University Jerusalem, Yale, the International
Institute for Economics in Stockholm,
NYU, MIT. Taught three lectures on
VARs with sign restrictions at Yale.
- 2005:
Discussant of Ravn - Schmitt-Grohé - Uribe, "Deep Habits" at the
Northwestern University and EUI conference on "Inflation, Interest
Rates and Relative Prices" at EUI, June 2005.
- 2005: Prague.
Participant of the first Prague-Budapest. Spring Workshop in
Macroeconomic Theory as a member of the scientific committee.
- 2005: Berlin Marathon
in 3:21:20.
- 2005:
"Policy Relevant Modeling for Central Banks", Zürich, 4th
Conference of the Bank of Canada, Federal Reserve Bank of Cleveland and
the SNB Zürich. Presented
"Bank finance versus bond finance: what explains the differences
between US and Europe," with
Fiorella de Fiore.
- 2005:
Visit of NYU and MIT.
- 2006:
Visit of Stanford and the University of Chicago. ISOM, Estonia, June,
presented "Pension Systems and the Allocation of Macroeconomic
Risk", with Lans Bovenberg. ZEI Summer School 2006, June, on Monetary
Theory and Policy, four lectures. EC Euroa-area Economy Modelling Centre,
conference on “Fiscal Stabilisation Policies in a Monetary Union: What can
we learn from DSGE models?”, October, presented “How far are we from the
slippery slope? The Laffer curve revisited” (with M. Trabandt).
Bundesbank, 2nd Kleistvilla workshop June, presented
“Macroeconomics and asset markets: some mutual implications”. 4th
ECB Central Banking Conference, November, discussant of Michael Woodford
and Lawrence Christiano.
- 2007:
American Economic Association Winter meetings, Econometric Society Winter
Meetings January, Chicago.
Presented “Is Quantity Theory Still Alive” (with Pedro Teles),
“Explaining Asset Prices with Habit Persistence and Wage Rigidities in a
DSGE Model”, “Bank finance vs bond finance: implications for monetary
policy” (with Fiorella de Fiore). “Wirtschaftspoloitik für die rheinlad-pfälzischen Regionen”, Mainz
workshop January 2007, presented “Regionale Arbeitsmärkte, Netzwerkexternalitäten
und Migration: Der Fall Ostdeutschland”. SED meetings in Prague, June, presented
"Explaining Asset Prices with External Habits and Wage Rigidities in
a DSGE Model", and “Measuring the Dynamic Effects of Monetary Policy
Shocks: A Bayesian FAVAR Approach with Sign Restrictions” was presented by
co-author Ahmadi. NBER “International Dimensions of Monetary Policy”, near
Barcelona, June, presented “Monetary policy in Europe vs the US: what
explains the difference?”. Bank of
England, “Great Stability Conference”, September, discussant of “How
Structural are Structural Parameters” by Rubio-Ramirez and
Fernandez-Villaverde. Nemmers Prize Conference for Lars Hansen, discussant
of “Evolution and Intelligent Design”, Sargent.
- 2008:
NBER Macro Annual 2008, April, discussant of Boivin- Giannoni- Mojon,
"How has the Euro Changed the Monetary Transmission". ECB, “International Research Forum on
Monetary Policy”, June, discussant of Arseneau-Chugh, “Frictional Labor
Markets, Bargaining Wedges and Optimal Tax Rate Volatility”, 5th
Banco de Portugal Conference on Monetary Economics in June and Sixth Hydra
Workshop on Dynamic Macroeconomics in October: presented “How far are we
from the slippery slope? The Laffer curve revisited” (with M. Trabandt).
“The ECB and its Watchers”, Frankfurt September and Global Insight, World
Economic Outlook Conference, October Chicago, presented “The subprime
innovation and the moral hazard crisis”.
- 2009:
EFG meeting San Francisco February, Discussant of Leeper-Walker-Yang,
“Fiscal Foresight: Analytics and Econometrics”. March: announcement of the
beginning of a recession (as of Q1 2008/January 2008) in Europe as chair
of the CEPR European business cycle dating committee. Selected participant for the
Carnegie-Rochester conference April 2009.
Presented “A model of a systemic bank run”. Invited key note
speaker for the ARGE meeting in Berlin, April, speaking about “The slow
decline of East Germany” (translation).
Invited key note speaker at the Midwest Macroeconomic Meeting in
Indiana, May: I spoke about “Some fiscal multiplier calculus”. Participant
at the Princeton Conference on “Monetary-Fiscal Policy Interactions, ...”,
May. I presented my paper “Some
fiscal multiplier calculus”.
Scientific organizer (together with Alan Mountfort) of the joint
Bundesbank-Banque-de-France conference in Paris, June 2009. I presented “A model of a systemic bank run”.
Keynote speaker at the Mannheim Konferenz "Heterogeneous-Agent
Models in Macroeconomics": I presented “Some fiscal multiplier
calculus”. Mykonos Conference: I presented “Some
fiscal multiplier calculus”. IMF, Tenth Annual Jacques Polak Research
Conference on “Financial Frictions and Macroeconomic Adjustment”. Presented “A model of a systemic bank
run”. Visit to the IMF, I presented “Some fiscal multiplier
calculus”.
- 2010: AEA/Econometric
Society Winter Meetings: I presented “Some fiscal multiplier calculus”,
“EZ Easy in DSGE” and “Fiscal Stimulus and Distortionary Taxation” (with
Thorsten Drautzburg). Atlanta
Federal Reserve Bank CQER Conference "New Approaches to Fiscal
Policy". I presented “Fiscal
Stimulus and Distortionary Taxation” (with Thorsten Drautzburg). 2010-02-25: Seminar at the European
Central Bank. I presented “How far
are we from the slippery slope?”. Seminar at the University of Chicago. I
presented “Fiscal Stimulus and Distortionary Taxation”. Seminar at NYU. I presented “Fiscal
Stimulus and Distortionary Taxation”.
Seminar at Indiana University. I presented “Fiscal Stimulus and
Distortionary Taxation”. Seminar at
Northwestern University (Kellog). I
presented “Fiscal Stimulus and Distortionary Taxation”. Conference at the Bank of Korea. I presented “Crises in Repo Markets with
Adverse Selection”. SED meetings in
Montreal. I presented 'Easy EZ for DSGE'.
NBER SI in Boston. I
presented 'Fiscal Stimulus and Distortionary Taxation'. Econometric World Congress in Shanghai. I presented 'Fiscal Stimulus and
Distortionary Taxation'. I also
discussed invited papers by Fernandez-Villaverde-Rubio-Ramirez as well as
Schorfheide. Richmond Federal
Reserve Bank. I presented 'Fiscal
Stimulus and Distortionary Taxation'. Stanford University. I presented 'How Far are we from the
Slippery Slope? The Laffer Curve
Revisited'. ``Hydra Conference'' on Cyprus. I presented "Crises in Repo Markets
with Adverse Selection".
London, MONFISPOL conference.
I presented 'Fiscal Stimulus and Distortionary Taxation'. ECB Conference, Frankfurt. I presented 'Fiscal Stimulus and
Distortionary Taxation' and participated in a panel discussion. UCL
London. I presented 'Measuring the
effects of monetary shocks: A Bayesian FAVAR approach with sign
restrictions.' Brussels, CEPR conf
on Lessons from the Financial Crisis.
I presented 'Crises in Repo Markets with Adverse Selection'
- 2011: ASSA
meetings in Denver. I presented
'Crises in Repo Markets with Adverse Selection'. Cairo University. I presented 'Fiscal
Stimulus and Distortionary Taxation'.
Washington IMF. Taught a
mini-course on 'Fiscal Policy in DSGE models'. Miami Liberty Fund Conference. Hamburg, Bundesbank Conference. I
presented 'The dynamics of sovereign debt crises in a monetary
union'. Seoul, South Korea,
Conference in honor of Chris Sims.
I presented 'Fiscal Stimulus and Distortionary Taxation' and 'Bayesian
Estimation of a DSGE model with asset prices' and participated in a panel
discussion. Stockholm Riksbank Conf.: I presented 'The dynamics of sovereign
debt crises in a monetary union'.
Luzern BIS conf, discussant of Perotti. San Francisco SCE conf., plenary
speaker. I presented 'Fiscal
Stimulus and Distortionary Taxation’. SED conf, Gent. I presented 'Crises in Repo Markets with
Adverse Selection'. Cologne Macro conf. I presented 'Crises in Repo
Markets with Adverse Selection'.
NBER SI, Boston. I presented
‘How Do Laffer Curves Differ Across Countries?’. Kiel Institute for World
Economics: mini course on “Macroeconomics and Financial Markets”. Bank of
Canada Conference, Keynote Speaker. I presented 'The dynamics of sovereign
debt crises in a monetary union'. Sardegna (“Hydra”) conference. I presented presented 'The dynamics of
sovereign debt crises and bailouts.’ St. Louis Federal Reserve Bank
conference. I presented and 'Bayesian
Estimation of a DSGE model with asset prices'. Boston, NBER ME. Discussant of Leeper-Traum-Walker. Madison (WI) conf on Money, Banking and
Asset Pricing. I presented 'Crises
in Repo Markets with Adverse Selection'. Rome, Italian Central Bank, CEPR
Regulation and Macro Modelling conf. I presented 'Crises in Repo Markets with
Adverse Selection'. Barcelona
CREI-CEPR conf on Asset Prices and Business Cycles. I presented 'The dynamics of sovereign
debt crises and bailouts.’
- 2012:
Chicago AEA conf: I presented 'Crises in Repo Markets with Adverse
Selection'. Brussels conf.,
European Commission. I presented
'The dynamics of sovereign debt crises and bailouts,’ discussed a paper by
C.A.Sims and participated in a panel discussion. IMF mini course on
“Macroeconomics and Financial Markets”. Brussel EC Conference: I presented
presented 'The dynamics of sovereign debt crises and bailouts’. Frankfurt
ECB-IRFMP conference. I presented
'The dynamics of sovereign debt crises and bailouts,’ and participated in
a panel discussion. Santa Barbara LAEF conference. I presented 'The dynamics of sovereign
debt crises and bailouts’. Philadelphia Federal Reserve Bank conf. I
presented 'The dynamics of sovereign debt crises and bailouts.’ Mini
course in Bergen on “Macroeconomics and Financial Markets”. Discussion on
Fiscal Policy at Morning Star. Nottingham University: Granger Lecture,
presenting a survey of some of my time series work. Keynote presentation at the Hangzhou
(China) 2012 AFR Summer Institute of Economics and Finance. Mini course at
Mannheim University on “Macroeconomics and Financial Markets”. SED Cyprus
conference, presented “Corporate
Debt Structure and the Financial Crisis”. ECB Workshop on
non-standard monetary policy measures.
Keynote speech on 'The dynamics of sovereign debt crises and
bailouts.’ Mini course at the Hungarian Central Bank on “Macroeconomics
and Financial Markets”.
Hydra-Corsica conference, presented “Financial Health
Economics”.Wharton Conference, I presented
‘The dynamics of sovereign debt crises and bailouts.’ Princeton Conference in honor of Chris
Sims, presenting a survey of some of my time series work. EUI Workshop on
Fiscal Policy, I presented ‘The dynamics of sovereign debt crises and
bailouts.’ Participant in a Fiscal Policy Panel at the San Francisco
Federal Reserve Bank. Richmond Federal Reserve Bank Conference on
Sovereign Debt Crisis, I presented ‘The dynamics of sovereign debt crises
and bailouts.’
- 2013:
San Diego AEA conf: I presented ‘Debt Structure and the Financial Crisis’,
participated in a panel discussion on “Stimulus or Stymied? The
Macroeconomics of Recessions’ and discussed ‘Output Sillovers from Fiscal
Policy’ by Auerbach and Gorodnichenko. IMF mini course on “Macroeconomics
and Financial Markets”. “Advantage”
Conference, Milan. Visit to Columbia University. Discussant at the
Banque-de-France-Bundesbank Conference in May. Expert witness at the
German constitutional court (BVerfG) in June 2013 regarding the OMT
programme of the ECB. Mini course
on “Macroeconomics and Financial Markets” at Freie Universität
Berlin. Duisenberg Fellow at the
ECB in February and in August. I gave the Otto Hirschfeld Lectures in
Berlin, October 2013.
- 2014: IMF mini course on “Macroeconomics and
Financial Markets”. Harvard
University, presenting ‘Sovereign Default Risk and Banks in a Monetary
Union’. Gerzensee mini course on “Macroeconomics and Financial
Markets”. UCSD, presented
“Financial Health Economics”. UCLA, presented ‘Sovereign Default Risk and
Banks in a Monetary Union’. Minneapolis Federal Reserve Bank Conference in
honor of Stokey-Lucas-Prescott, presented “Financial Health Economics”,
ESEM Summer meeting in Toulouse, I gave the invited “Laffont Lecture”.
- 2015: IMF mini course on “Macroeconomics and
Financial Markets”. With John
Taylor, I co-organized two conferences (one in Stanford, one in Chicago)
for the presentation of draft chapters for the planned Handbook of
Macroeconomics (North-Holland).
Keynote presentation at the Tsinghua (Beijing) Workshop in
Macroeconomics. Invited to provide
a to-be-published comment at the NBER Macro Annual. Keynote presentation at a CES-Ifo
conference in Venice in July.
Invited talk at the World Congress of the Econometric Society in
Montreal. Mini-course at the
Central Bank of South Korea.
Invited Keynote presentation at the MMF conference in Cardiff.
Invited Keynote presentation at the Dynare Conference in Brussels.
- 2016:
invited after-dinner talk at the “Mad Money” conference in Madison,
Wisconsin, March. Discussion of
Blanchard-Erceg-Lindé at the NBER Macroeconomics Annual Meeting in Boston,
April. Taught a mini-course on
macroeconomics and financial markets at the Central Bank of Chile,
July. Annual NorMac Lecture at the
Nordic Summer Symposium in Macroeconomics in Ebeltoft, Denmark,
August. Keynote Plenary Speaker at
the Midwest Macroeconomics Meeting in Kansas, November. Various visits to
the European Central Bank, the
Bundesbank and the Philadelphia Federal Reserve Bank to discuss research.
- 2017:
Keynote Speaker at the Henan University INFER Workshop and appointment to
Honorary Professor at Henan University, China, March. Various visits to the European Central
Bank and the Bundesbank to discuss research. Invited speaker at the 3rd
Great Minds China Forum, Shanghai, May 2017: I presented a lecture on
“Research Frontiers in Macroeconomics: The Seven Shanghai Themes”.
Participant at the ECB Sintra Meeting, June 2017. Invited Speaker at the Singapore Economic
Review Conference, Aug 2-4, 2017.
Invited Speaker at the ECB Conference on “Credit, Banking and
Monetary Policy”, October: presented
“Mortgage-Backed Securities and the Financial Crisis 2008: a Post
Mortem”. John Kusczak Key Note
Speaker at the Bank of Canada conference, November 2017.
- 2018: Keynote Speaker at the 22nd
International Conference on Macroeconomic Analysis and International
Finance, Crete, May: presented “Neoclassical growth with one-sided
competitive risk sharing” (joint with Dirk Krüger). Invited participant to the Stockholm
Nobel Symposium on Money and Banking (May): presented “Money and Banking:
DSGE Challenges”. DFG panel member
for the Exzellenz-Initiative in Germany, evaluating several
Exzellenz-Clusters in June. Keynote
Speaker at the Econometric Society Australasian Meeting in Auckland, NZL,
in June: presented “Neoclassical growth with one-sided competitive risk
sharing” (joint with Dirk Krüger).
Invited visitor at the National University of Singapore (NUS) in
August as Tan Chin Tuan Professor of Banking and Finance, presenting
several papers and interacting with faculty and students. I presented “Some Simple Bitcoin
Economics” (joint with Linda Schilling) at the 2018 Liquidity and
Financial Fragility Conference at Penn Wharton, October 2018. Invited
participant at the JME-SNB Gerzensee conference in October, presenting
“Some Simple Bitcoin Economics” (joint with Linda Schilling). Keynote Speech on “Money Market
Functioning and Interbank Uncertainty” at the European Central Bank (ECB)
in October. Co-Organizer of the BFI conference on “Cryptocurrencies and
Blockchains” at the University of Chicago in November. Keynote speaker at the 5th
Workshop of the Australasian
Macroeconomics Society (WAMS) in Queenstown, NZL, November, presenting
“Some Simple Bitcoin Economics” (joint with Linda Schilling). Keynote on “The Dynamics of Sovereign
Debt Crises and Bailouts: Theory and Implication for Policy-Making” at the
Workshop on Debt Sustainability Analysis (DSA) at the European Stability
Mechanism (ESM) in Luxembourg, December.
- 2019: Participant in the invited
session on “crypto-currency markets” at the ASSA-AEA meetings in Atlanta,
resulting in the paper “Currency Substitution under Transaction Costs” (joint with Linda Schilling), to
appear in the AEA P&P May volume 2019. I gave the PER Distinguished
Lecture at Columbia University in April on “Some Simple Bitcoin
Economics”. I gave an AMES (Asian Meeting of the Econometric Society)
Keynote in Xiamen, China, June, on “Some Simple Bitcoin Economics”. I gave a keynote at the SERC conference
in Singapore in August on “Some Simple Bitcoin Economics”. Co-Organizer of the 2nd BFI
conference on “Cryptocurrencies and Blockchains” at the University of Chicago
in November.
- 2020: I gave a zoom lecture on
“COVID19 und VWL: was die ökonomische Sicht beiträgt” at the IMFS,
Frankfurt in April 2020.
Other presentations and activities:
- 1989 - 1995: Queen's, University of Chicago,
Norhwestern University, Western Ontario, Yale, NYU (Finance Dept.),
Princeton, University of Pennsylvania, Carnegie-Mellon, UCLA, UC San
Diego, LSE, Autonoma (Barcelona), Tel Aviv Munich, Bonn, Rotterdam,
Oxford, Basel, Bielefeld, Dortmund, Bergen, CORE, Humboldt University
(Berlin), Tilburg University, UPF, Bern, Wisconsin, University of
Minnesota, Federal Reserve Bank of Minneapolis, University of Illinois in
Urbana-Champaign, UBC, Chicago (Bus. School),
- 1995 - 1997: ECARE, Federal Reserve Bank of
Minneapolis, Tinbergen Institute Amsterdam (Finance group), University
College London, Cambridge, Lissabon (Central Bank), Koc University,
Humboldt University Berlin, Alicante, Dortmund, Groningen, Southampton,
Stockholm, CEMFI (Madrid), Cologne, Frankfurt, University of Rochester,
London Business School, CORE.
- 1998: FU Berlin, Antwerp, Bundesbank, IGIER
(Milan), EUI (Florence), Bielefeld, ECARE (Brussels), Bonn, Saarbrücken.
- 1999: Cyprus, INSEAD, Stockholm
Institute of International Economics, Stockholm School of Economics,
Vienna, Humboldt University Berlin, "The ECB and its Watchers in
Frankfurt", Stanford University, UCLA, University of Tokyo, Niagata
- 2000: USC, University of Santa
Barbara, Richmond Fed, Wharton, U. of Chicago (Dept. of Econ.), UC San
Diego, UC Davis, UCLA
- 2001: University of Minnesota, Ente
Einaudi (Rome), Tilburg University, Cambridge, CERGE EI (Prague), SFB
Meeting in Wulkow, "The ECB and its Watchers" in Frankfurt, EEA
Congress in Lausanne
- 2002: Southampton, London Business
School, European Central Bank, Tilburg
University, Milan, Warwick, Cologne
- 2003: Heidelberg, Mannheim, Tilburg
University, Bonn, Alicante, Carlos III (Madrid)
- 2004: Bielefeld, Bundesbank, LSE, Tel Aviv,
Toulouse, Duke
- 2005: Hebrew University
Jerusalem,
St. Andrews, Yale, NYU, MIT, Harvard, EUI, Milan, Kopenhagen, Princeton,
Toulouse.
- 2006: Basel, University of Munich,
Institute für Wirtschaftsforschung Halle (IWH), Oslo, Oxford, Rotary Club
am Gendarmenmarkt (Berlin), Tilburg University, IHS (Vienna), Österreichische
Nationalbank (Austrian Central Bank), University of Chicago, Federal
Reserve Bank of Chicago
- 2007: Brunel, ECARES, Hamburg, LSE,
Mannheim, University of Chicago, Michigan, Wharton (U Penn), Columbia,
- 2008: University of Missouri, New
York Federal Reserve Bank, Federal Reserve Board (Washington), Southern
Methodist University, Arizona State University, UC Davis, UC Berkeley, San
Francisco Federal Reserve Bank.
- 2009: University of Wisconsin,
University of Chicago, ECB, Tilburg University, Notre Dame, KF-UNC North
Carolina.
- 2010: ECB, Northwestern (Kellog),
Richmond Federal Reserve Bank, Stanford (Economics)
- 2011: Duke University (Economics and
Finance). ITAM, Mexico City. University of Chicago SSD Convocation:
Graduation Speech. Getúlio Fargas Foundation, Rio de Janeiro. University
of Maryland.
- 2012: Getúlio Fargas Foundation, Rio
de Janeiro. Wharton (Univ. Pennsylvania), Kansas City Federal Reserve Bank,
Kansas University, Central Bank of Portugal, University of Wisconsin, Ente
Einaudi (Rome), Bilkent University (Turkey), Central Bank of Turkey,
Catholic University of Milan, University of Bonn, Berliner Akademie der
Wissenschaften.
- 2013: UPF, Barcelona. Columbia University. SED conference Seoul. DIW Berlin,
Federal Reserve Bank of Minneapolis, Federal Reserve Bank of Philadelphia,
IFMS conference at the ECB Frankfurt.
- 2014: AEA Winter Meetings, NBER
Monetary Economics Conference (discussant of Del Negro – Sims), Duke Asset
Pricing Conference, Queen’s University,
Carnegie-Rochester conference (discussant of Hansen-Sargent),
Ortigia (Sicily) conference, ECB “MaRs” conference (discussant), Capri
conference, Warsaw Central Bank of
Poland conference, Richmond Federal Reserve Bank, Washington Federal
Reserve Board, NBER SI EFG meeting (discussant), Adelaide (Australia).
- 2015: Boston Winter Meetings, ASU
Phoenix AZ, Chicago Midwest Finance meeting (discussant), NBER Monetary
Economics Conference (discussant of Del Negro – Sims), NY MFM meeting
(discussant), Zurich conference (presented Roch-Uhlig), UBS Center Zurich
advisory board meeting, NBER Summer Institute, Hydra conference
(discussant).
- 2016: MFM Meeting in NY
(participant), NY conference on “Multiple Equilibria” (presented
Guerrieri-Uhlig handbook chapter draft), Mad Money conference in Madison
Wisconsin (presented Guerrieri-Uhlig handbook chapter draft). Discussed paper by Chari-Kehoe in
Stanford, May. Washington U in
Seattle (presented Guerrieri-Uhlig handbook chapter draft). Discussed Violante’s paper at a
conference in Alghero, Italy (July).
Presented “Mortgage-Backed Securities and the Financial Crisis
2008: a Post Mortem” at the NBER SI, Boston, July, at the Workshop on
Dynamic Macroeconomics Hydra Conference in October, in Oxford UK in
October and at the Department of Economics at the University of
Pennsylvania, November. Joint Conference of the Korean Econ. Assoc. and
the Social Science Korea Research Team in Seoul, October (presented Guerrieri-Uhlig
handbook chapter draft).
- 2017: Discussant of Goldberg-Paper
at the “Day Ahead” conference at the Chicago Federal Reserve Bank,
January. Presented “Government Risk
and the Macroeconomics of Health”, joint with Ralph Koijen, at the
“Restoring Prosperity Conference”, Stanford, February. Participant at the
MFM New York meeting, March.
Presented "Neoclassical growth with one-sided
competitive risk sharing" (joint with Dirk Krüger) at the University
of Minnesota and at Princeton University (April). ).
Presented “Mortgage-Backed Securities and the Financial Crisis
2008: a Post Mortem” at the SAFE conference in Frankfurt, Germany, in
May. Paris, Banque de France
(June): presented "Mortgage-Backed Securities and the Financial
Crisis of 2008: a Post Mortem".
Various research visits at the ECB and the Bundesbank (March, June, October). Apulia, Italy conference, “Macroeconomic
Issues after the Crisis”: I presented “Neoclassical growth with long-term
one-sided commitment contracts” (joint with Dirk Krüger). USB Center
Zurich Advisory Board meeting (June).
Yale (November): I presented “Neoclassical growth with long-term
one-sided commitment contracts” (joint with Dirk Krüger). Webinar for CEMLA, the Association of
Central Banks in Latin America, on “The Dynamics of Sovereign Debt Crises
and Bailouts” (based on my work with Francisco Roch). Federal Reserve Bank San Francisco
“Micro Macro Labor Economics Conference” December: Discussant of Glover,
“Aggregate Effects of Minimum Wage Regulation at the Zero Lower Bound”.
- 2018: Participant at the MFM
Meeting, NY (January). EFG Meeting
in San Francisco (February): discussant of a paper by
Maggiori-Neiman-Schreger on “International Currencies and Capital
Allocation”. Research visits to the
Bundesbank (February, May).
Cleveland Federal Reserve Bank (April): presented “Some simple
Bitcoin Economics” (joint with Linda Schilling). “Theoretischer Ausschuß” Bonn (May):
presented “Some Simple Bitcoin Economics” (joint with Linda
Schilling). 3rd
International Conference on Financial Markets and Macroeconomic
Performance, May 2018: presented “Neoclassical growth with one-sided
competitive risk sharing” (joint with Dirk Krüger). Presented “Some Simple Bitcoin
Economics” at the Helsinki CEPR conference “Money in the Digital Age” and
at the MFM summer camp in June.
Several presentations at the NBER Summer Institute in July
2018. Visit to CREST, Polytechnique
(August). Indiana University,
September, presenting "Neoclassical Growth with Long-Term
One-Sided Commitment Contracts" (with
Dirk Krueger). Discussant of Baqaee-Fahri, “Productivity and
Misallocation in General Equilibrium” at the 2018 Hydra Workshop on
Dynamic Macroeconomics, September.
Visit of the Reserve Bank of New Zealand, presenting several papers
and interacting with the economists there.
Visit to CREST, Polytechnique in Paris, presenting “Neoclassical growth with
one-sided competitive risk sharing” (joint with Dirk Krüger).
- 2019: Presented “Money Markets, Collateral and Monetary
Policy” (joint with Fiorella de Fiore and Marie Hoerova) at the
ASSA conference in Atlanta (January).
Presented “Neoclassical growth with one-sided competitive risk
sharing” (joint with Dirk Krüger) at the capstone MFM conference in NY in
February. Visit to the U of
C center in Paris and CREST, Polytechnique in Paris, presenting “Some Simple Bitcoin Economics”
(joint with Linda Schilling) at CREST.
I presented “Some Simple Bitcoin Economics” at the University of
Iowa ( April), the Bank-of-England Finance Forum (May). I participated in an UBS Center Advisory
Board Meeting in Zurich in
June. I participated in the CEPR
Finance workshop in Gerzensee in July. I discussed a paper by Baqaee and
Farhi at the Hydra Conference on Mallorca in September. I gave a lecture on Cryptocurrencies at
Kings College London (October). I presented “Cryptocurrencies, Currency
Competition, and the Impossible Trinity” (joint with Pierpaolo Benigno and
Linda Schilling) at the UC Irvine in October, at the Dallas Federal
Reserve Bank in October, at the DIW in Berlin in October and at the
Hei-Tü-To Workshop in Heidelberg in December. I participated in the
Chicago Federal Reserve Bank Conference, honoring Alejandro Justiniano, in
November. I visited the European Central
Bank and the Bundesbank, on several occasions.
- 2020: I discussed a paper by
Ludvigson-Ma-Ng and a paper by Chiu-Koeppl at the San Diego Winter
Meetings of the American Economic Association in January. I virtually visited the Bundesbank in
March, consulting with them on their research projects. I presented “Macroeconomic Dynamics and
Reallocation in an Epidemic”, joint with Dirk Krüger and Taojun Xie, at
the Department of Economics, University of Chicago, lunch time virtual
workshop in April.
Referee for:
American Economic Review, BePress,
Computational Economics, Econometrica, Econometric Theory, Economic Journal,
Economic Theory, European Economic Review, German Economic Review,
International Economic Review, Journal of Applied Econometrics, Journal of
Econometrics, Journal of Economic Dynamics and Control, Journal of Economics,
Journal of Economic Theory, Journal of Macroeconomics, Journal of Public
Economics, Recherches Economiques de Louvain, Regional Science and Urban
Economics, Review of Economic Dynamics, Review of Economic Studies, Review of
Financial Studies, The Annals of Statistics, Weltwirtschaftliches Archiv,
Zeitschrift für Nationalökonomie, Zeitschrift für Wirtschafts- und
Sozialwissenschaften, Applicationes Mathematicae.