The Janeway Institute, Cambridge

NEW JI WP: F. Bilbiie, F. Hanks & S. Lavender (Cambridge) study how consumption-hours complementarity makes HANK models deliver plausible fiscal multipliers while resolving two puzzles; it also proposes two functional forms for utility that feature arbitrary complementarity
bit.ly/47qTXxx

YouTube video by Faculty of Economics, University of Cambridge Robust Organization Design - Patrick Allmis

📢In this new JI video, Dr Patrick Allmis asks, 'Why do organizational processes differ so drastically, even among close competitors?'

Read his #econjobmarket paper: bit.ly/4o1tefZ
And watch the video here:
www.youtube.com/watch?v=4U37...

📣We're hiring!📣Young researchers: don't miss this amazing opportunity to join Cambridge Economics: apply for a JI Postdoctoral Research Fellowship (in areas of economics related to networks, crowds and markets) by 30th Jan 2026.

Details: www.cam.ac.uk/jobs/janeway...

YouTube video by Firstpost Trump Meets Xi Jinping: Who walked Away Happier? | Firstpost PoV | N18G

Prof. Meredith Crowley @meredith-crowley.bsky.social speaks to Indian broadcaster @firstpost.bsky.social
about Trump and Xi's recent talks in S. Korea with analysis of trade deals, rare earths, tariffs and technology - plus the current direction of US-China relations.
youtu.be/vU7ZRx4gEEg?...

YouTube video by DW News 'No deal yet' - US and China agree to framework for a trade deal ahead of Trump-Xi meeting | DW News

JI Coordinator and Prof. of Economics @meredith-crowley.bsky.social has been interviewed by DW News about upcoming trade negotiations between the US and China: www.youtube.com/watch?v=5hoR...

YouTube video by Faculty of Economics, University of Cambridge Land Acquisition and Industrial Policy in India – Megan Haasbroek

What is the impact of compulsory land acquisition on industrial composition & local employment? In this NEW 2 min JI video, Megan Haasbroek discusses how industrial policy in developing countries is shaped by the use of eminent domain.
#landreform
www.youtube.com/watch?v=sNPt...

Nobel Laureate, Philippe Aghion, has delivered this year's Marshall Lectures @econcam.bsky.social w/ great humour and aplomb to record-breaking audiences!

JI Coordinator @meredith-crowley.bsky.social also hosted a celebratory dinner at St John's College, Cambridge.
www.joh.cam.ac.uk/about-us/new...

The permanent and temporary effects of stock splits on liquidity in a dynamic semiparametric model We develop a dynamic framework to detect the occurrence of permanent and transitory breaks in the illiquidity process. We propose various tests that can be applied separately to individual events a...

NEW PUBLICATION forthcoming at the Journal of Business & Economic Statistics by @LinqiWang07 with @christianhafner and Oliver Linton @econcam.bsky.social
'The Permanent and Temporary Effects of Stock Splits on Liquidity in a Dynamic Semiparametric Model'
➡️ doi.org/10.1080/0735...

Huge congratulations to Janeway Institute
Deputy Director, Constantine Yannelis, who has won a 2025 Leverhulme Prize!
It was awarded for his work on financial economics, human capital investment, corporate finance, applied microeconomics and student loans.
➡️https://leverhulme.ac.uk/news/2025PLP

How do spillovers across interconnected arenas - like markets, constituencies, or research fields - shape competition?

Read the new JI WP by JI Coordinator & Arthur C. Pigou Professor of Economics, Sanjeev Goyal et al:
janeway.econ.cam.ac.uk/publication/...

Next week! The Cambridge Faculty of Economics is thrilled to be welcoming Nobel Laureate Phillippe Aghion to deliver the annual Marshall Lecture on Oct 22 &23 (5pm, Sidgwick Site, Cambridge) entitled “Rethinking Capitalism: The Power of Creative Destruction”. bit.ly/48zzSpN

We're excited to be sponsoring a fantastic line-up of speakers at the Long-Run #Productivity Conf on 20th Nov 2025, organised by Jagjit Chadha (Cambridge) & colleagues.

See the programme & register your interest by 7th Nov here:
janeway.econ.cam.ac.uk/event/long-r...

Can we optimise team allocation by taking into account social values and sources of unequal productivity?
Ana Lleó-Bono @econcam.bsky.social explores this question in a NEW JI WP.
➡️ www.janeway.econ.cam.ac.uk/publication/...
#KeynesFund #EconTwitter
@meredith-crowley.bsky.social

JUST PUBLISHED by Jagjit Chadha et al:
'The Role of Macroprudential Policy in Times of Trouble' which looks at whether macroprudential policies support broader economic stablility, esp the welfare of households.
Read the paper here: bit.ly/48KnG5k

Congrats to JI & Productivity Institute Postdoc Ali Sen who has moved to the Brunel Centre at the University of West England, Bristol as a Research Fellow.

Ali's interests are productivity, structural change, production networks and intangible capital.

sites.google.com/view/aliysen...

🔔Event reminder: Don't forget to register your interest to attend by 15th September!

Congratulations to JI Postdoc Megan Haasbroek who has moved to Oslo this Sept as a postdoctoral researcher at the
BI Norwegian Business School.

Megan is an applied economist w/ interests in international trade, economic geography & development economics.

Find out more:
www.meganhaasbroek.com

🎉Congratulations to Léonard Bocquet, a JI Research Fellow, who is joining the Univ of Amsterdam as an Assistant Prof this Sept.

His interests are macroeconomics, labour economics, trade economics & network economics.

Find out more about his work: sites.google.com/view/leonard...

Congratulations to JI & #KeynesFund (Camb) Postdoctoral Researcher Fellow, Caroline Liqui Lung, who joins City St Georges, Univ of London this Sept as a Lecturer (Ass't Prof).

Caroline mainly works on the intersection of Behavioural Economics & Microeconomic Theory.

Find out more: cwliquilung.com

Raising VAT rates would let Rachel Reeves fill budget black hole and enable growth | Letters Letters: Kristoffer Berg says VAT can be progressive, while Anthony Seaton suggests making use of MOT data to tax cars

I write in @theguardian.com on why a VAT rise in the UK may be quite progressive and may hurt growth less than other taxes would www.theguardian.com/politics/202...

Final Reminder: Deadline for this Call is tonight - Sept 1 - at 23:59!

Attention Cambridge PhD students: apply by 5th Sept 2025 for the Keynes Fund PhD Small Awards Scheme (or later in the year by 15th March 2026).
Discover all the details on how to apply here: www.keynesfund.econ.cam.ac.uk/phd-awards-s...

📢'The New Global Economy: Trade Wars & De-dollarisation' is a JI conference taking place on 27-28 Sept in Cambridge with keynotes by:
🎙️Silvana Tenreyro (LSE)
🎙️Oleg Itskhoki (Harvard)
See the full 2 day programme & register interest by 15th Sept here bit.ly/41przs6

JI Call for Papers deadline fast approaching: 1 Sept 2025! Apply to join the JI-sponsored Long Run Productivity Conference at Clare College, Cambridge on 20 Nov 2025. Follow this link to apply:
cepr.org/events/long-...

Register your interest by 1 Sept to join this JI conf organised by JI Deputy Director C. Yannelis @econcam.bsky.social , Isil Erel (Ohio State) & Zhiguo He (Stanford).
Find out more: www.janeway.econ.cam.ac.uk/event/2025-r...

Why does the standard measure of Economic Policy Uncertainty (EPU) drop during armed conflicts & how can this be adjusted?

Find out more in a NEW JI WP by C. Rauh (Cambridge)@econcam.bsky.social , S. Brochet & H. Mueller.

janeway.econ.cam.ac.uk/publication/...
#econtwitter #keynesfund

In a new JI WP, Edoardo Gallo
@econcam.bsky.social w/ M. Bigoni (Bologna) & G. Camera (Chapman) observes that 'monetary systems outperform social exclusion mechanisms in promoting cooperation in globalized social and economic networks'. Read the paper here: janeway.econ.cam.ac.uk/publication/...

Listen to JI Coordinator @meredith-crowley.bsky.social talking to Chris Horseman @chrishorseman.bsky.social about the 'main principles of Trump's trade policy in his 2nd term' including imposing high tariffs on countries with large trade deficits in relation to the US.

(Starts at 3.00)

The Briefing Room - The Trump hokey cokey is back - what happens to world trade now? - BBC Sounds As President Trump raises tariffs again, what does this mean for world trade?

Today @meredith-crowley.bsky.social was back on Radio 4's The Briefing Room w/ @davidsonofaaron.bsky.social discussing Trump's #tariffs & the legal status of a Trump trade deal.

Does anything stop Trump or a successor from changing it?

➡️ Starts at 8.55
www.bbc.co.uk/sounds/play/...

It's the Faculty's open day today & tomorrow, and a lovely sunny one too: if you are interested in any of the courses in Economics at Cambridge, or just want to find out what we do, please come along to the foyer of the Marshall Library to find out more.