Thrilled to release this working paper, joint with Matt Rognlie and Ludwig Straub, which we prepared for next year’s Annual Review of Economics. In it, we provide an overview of the recent “HANK” literature studying fiscal and monetary policy with heterogeneous agents.

Check out our new paper, joint work with Riccardo M. Masolo Silvia Sarpietro. A short thread follows bankofengland.co.uk/working-paper/…

Why is #wealth #inequality in Switzerland 🇨🇭 not only high (level) but keeps rising (trend) 📈? Since Marius Brülhart asked, here's 🧵 of possible explanations based on my recent work:

New CEPR Discussion Paper - DP19626 Quantitative Tightening Around the Globe: What Have We Learned? Wenxin Du, Kristin J Forbes, Matthew Luzzetti Deutsche Bank ow.ly/kiXA50TVtal #CEPR_IMF #CEPR_MEF #economics

The experiences of the past few years (COVID, war in Ukraine, etc.) are forcing economists to re-evaluate the appropriate responses of monetary policy, especially when inflation is driven by supply-side factors. Here is a short 🧵based on galonuno.com/uploads/1/3/4/… 1/n (n=15)

In a new WP w. Klaus Abberger, Anne Kathrin Funk, Michael Lamla, and Stefanie Siegrist we examine how firms’ #inflation #expectations affect their #prices and #wages sarah-lein.ch/IEPT.pdf. We find that 𝗻𝗲𝗮𝗿-𝘁𝗲𝗿𝗺 𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗲𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀 are relevant:1/4

New paper: benjaminmoll.com/challenge/

🚨 New Working Paper Alert! 🚨 Dive into "The Perils of a Dual Mandate" 🧵 📉Nominal fiscal policy meets dual mandate in HANK Details 👉 ora.ox.ac.uk/objects/uuid:8… #EconTwitter #EconX 1/3

New NBER WP!🎊 Our findings link the increased use of the language of Rules (Discretion) in the FOMC debate to tighter (easier) monetary policy. Joint with Michael Bordo and Humberto Martinez Humberto Martínez nber.org/papers/w33262

New Paper! This time with a thread. What determines the output effect of different fiscal stimulus policies? We offer a model, some analytical insights, and some numbers to help answer this. Joint with Tobias Broer, Jeppe Druedahl and Karl Harmenberg. cepr.org/publications/d…

The 2015 CHF appreciation is a key empirical setting for understanding how large exchange rate movements shape macroeconomic outcomes. In a new VoxEU.org w Sarah Lein and Ariel Burstein, we reflect on the learnings 10 years after the shock: cepr.org/voxeu/columns/…

📢📢Happy to share that **Monetary-Fiscal Interaction and the Liquidity of Government Debt** (joint with E. Leonardi) has been published in the EER! 🍾🎉 🔗Open access: doi.org/10.1016/j.euro… 🧵👇 #EconTwitter 1/

🚨 New WP Alert! 🚨 How does *inequality* shape the *optimal carbon tax*? 🌍💰 Our latest paper explores the *efficiency-equity trade-off* in climate policy, showing how household heterogeneity affects both the level and cyclical behavior of carbon taxation. 🧵👇

🚨 We're organizing a one-day workshop on the use of heterogeneous agent models in central banking 🚨 The keynote speaker will be Adrien Auclert 📆 Submit your papers by April 15!! bankofengland.co.uk/events/2025/ma…

We have a new working paper: 𝐀𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐭𝐨 𝐭𝐡𝐞 𝐌𝐚𝐜𝐫𝐨𝐞𝐜𝐨𝐧𝐨𝐦𝐲 with Sebastian Link, Andreas Peichl, Chris Roth and Johannes Wohlfart Short thread below ⬇️ Empirical Macroeconomics Policy Center of Texas ifo Institut Universität zu Köln Economics LMU Munich UT-Austin Economics

Unspeakably excited to share HANKSSON, joint work w/ (lucky me!) Sigurd Galaasen Refet Gürkaynak M. Mæhlum K. Molnar A key question of the HANK literature: Does (household) heterogeneity amplify the aggregate effects of demand policies and shocks? Well ... 1/n tinyurl.com/3n7sx842

Governor Waller on central bank reseaerch federalreserve.gov/newsevents/spe…

A survey of French firm's inflation expectations that predate inflation spikes provides evidence on the anchoring of expectations during an inflation surge and the relevance of expectations for firms' decisions, from Erwan Gautier, Frédérique Savignac, and Olivier Coibion

It took a while, but we finally have a new (heavily revised) version out: nber.org/papers/w32305 Fabian Seyrich

Level up in HANK modeling! BASEforHANK Winter School DIW Berlin, Dec 8–17, 2025. Week 1 online, Week 2 in Berlin. Hands on with BASEtoolbox.jl + Julia. Christian Bayer Benjamin Born Ralph Lütticke. Apply by Sept 21—details in the tweet below. #HANK #Econ