Ralph Luetticke

My stuff is not all open source and as nicely structured. But you can book me... ;)

#econsky is anyone keeping track of chatGPT citations? in good company of @ralphluet.bsky.social :-) A student just shared this with me. it refers to this: floswald.github.io/NumericalMet...
here a updated version: floswald.github.io/CompEcon/lec...

German election: a triple crisis looms large at the heart of the economy High energy prices, a weak labour force and low productivity growth are behind the ailing German economy – and voters are feeling the pinch.

As the February 23 election approaches, Germany’s economy is at a crossroads. In this op-ed, Gernot Müller and I explore Germany’s economic stagnation. It is not just about weak demand—it’s a deeper supply-side problem.
theconversation.com/german-elect...

#EconSky #gdp #numbersday

Amazing!

A quantitative HANK model estimated with linear methods where aggregate uncertainty interacts with the illiquidity friction to drive business cycles and asset returns, from Cosmin L. Ilut, Ralph Luetticke, and Martin Schneider https://www.nber.org/papers/w33331

Ambiguity We survey the literature on ambiguity with an emphasis on recent applications in macroeconomics and finance. Like risk, ambiguity leads to cautious be…

Cosmin Ilut and Martin Schneider recently did a handbook chapter about ambiguity in macro and finance: www.sciencedirect.com/science/arti...

We further exploit the tractability of ambiguity to study the importance of precautionary pricing of firms. So much to unpack!

Enjoy the holidays. : )

Our model can also explain averages better: Capital premium is 3.2% ambiguity + 2.3% illiquidity. Average wealth inequality is higher as well and there is a larger fraction of HtM households.

Ambiguity about TFP jointly explains more than 70% of the cyclical variation in key macroeconomic aggregates as well as in the excess return on capital and the real interest rate.

Portfolio substitution by rich capital owners is crucial to fit investment and return dynamics. They worry about low dividends + trading frictions, very different from the rep.agent who mostly earns labor income. This leads to a greater fall in investment and asset prices.

We exploit the tractability of ambiguity to fully estimate the effects of aggregate uncertainty on the ergodic distribution and dynamics of a 2-asset HANK model, while still using first-order perturbation techniques. We find a strong interaction of ambiguity with heterogeneity!

Need a break from the break? We got you covered:

New WP with Cosmin Ilut and Martin Schneider:
HANK's Response to Aggregate Uncertainty in an Estimated Business Cycle Model.

Short thread. #EconSky

ralphluetticke.com/files/ILS_2024.pdf

Deadline on Sunday for a tenure track (W1 to W3) position in Economic History and Empirical Macroeconomics. Still time to apply!

📖A new virtual issue of The Economic Journal, ‘Lessons from Covid-19 and the economics of pandemics’ is out now and can be read online for free for a limited time.

Read👉 bit.ly/3Zo4Uuq

#EconSky #EJ #RESJournals @bborn.bsky.social @christian-bayer.bsky.social @ralphluet.bsky.social

Ana has consistently demonstrated her ability to solve complex models, derive intuitive closed-form expressions, and effectively connect these models with empirical data. That's the perfect skill set for a modern macroeconomist!

Ana has another completed paper on optimal fiscal policy within the New Keynesian network model, co-authored with my colleague Gernot Müller as well as two papers on precautionary household behavior in response to risk and its significance for the business cycle.

Her JMP finds cost-push inflation to be twice as high once she introduces state-dep. pricing into NK network models. State-dep. price adjustments occur in 70% of US sectors and account for a substantial portion of price changes. Sectors with low price avg volatility matter most!

Anastasiia Antonova Welcome! My name is Anastasiia Antonova, I am a Ph.D. candidate at Aix-Marseille School of Economics I am on the academic job market in 2024-2025 My primary research area is monetary economics, focusi...

🎙️JMC: Ana Antonova🎙️
Looking to hire in macro: No way to pass on Ana Antonova, PhD cand. @AMSE, currently @unituebingen.bsky.social.
Ana already has 5 papers to her name advancing New Keynesian network and HANK models as well as their measurement.

sites.google.com/view/anastas...

You can now list your Bluesky account in your RePEc profile, like you already could for Mastodon and Twitter. Log in at the RePEc Author Service, click on "contacts", enter it and save. It will be listed on your profile at IDEAS after the next nightly refresh.

authors.repec.org

#econsky #RePEc

Zen time of the day

Was waiting for this list! Thanks Jonathan. Please add me as well.

Fancy coming to the sunny side of Europe in Tuebingen?

Join us as Tenure-Track Professor for Economic History and Empirical Macroeconomics
econjobmarket.org/positions/11204

Join us as PostDoc in International/Innovation
econjobmarket.org/positions/11071

Happy to chat and explain our trajectory!

ERC Starting Grant "AIRMAC" | Ralph Luetticke I have been awarded an ERC Starting Grant, “Aggregate and Idiosyncratic Risk in Macroeconomics” (101114991 — AIRMAC — ERC-2023-STG), to study the interaction of aggregate and idiosyncratic ris...

Join us as a #PostDoc at @uni_tue to work at the frontier of HANK research. The 3-year position is funded by an ERC STG and comes with a small teaching load. Deadline: November 30, 2023. #HorizonEU #ERC

www.ralphluetticke.com/erc/

econjobmarket.org/positions/10...