National security is key. That said, using the Ramey/Zubairy data, we find average fiscal multipliers above one ( 1.3 ) and highly significant when controlling for time-variation in systematic monetary policy. Paper: shorturl.at/nkTUD w/ Matthias Meier Klodiana Istrefi

Happy to have spoken at the #ECB Watchers conference in Frankfurt today about the implications of #government #debt #expansion for European Central Bank monetary policy strategy, together with 🇫🇷Governor Villeroy de Galhau, S. Tenreyro & Refet Gürkaynak: My slides here: imfs-frankfurt.de/fileadmin/user…

📢 Call for Papers! Join us in Munich for the 15th ifo Conference on Macroeconomics & Survey Data 🗓️ Oct 17–18, 2025. Keynotes: Olivier Coibion & Sarah Lein Hosted by ifo Institut – see you this fall! 🔗 ifo.de/en/event/2025-… #Macro #SurveyData

US stock market around Smoot Hawley passage and last week's Trump tariffs

This week Yu Zheng will be presenting in the Macro CRC TR 224 EPoS Bonn-Mannheim Seminar at Department of Economics, University of Mannheim "Unequal Transition: The Widening Wealth Gap amidst China's Rapid Growth" Michele Tertilt Matthias Meier Minki Kim Andreas Gulyas Miren Azkarate-Askasua Ana Moreno-Maldonado Klaus Adam

Do the media focus on the negative? If so, why? We study this in the context of stock market reporting and identify and quantify an overlooked bias.

Congratulations to Stefanie Stantcheva (Stefanie Stantcheva s-stantcheva.bsky.social) of Harvard University, winner of the 2025 John Bates Clark Medal! aeaweb.org/about-aea/hono…

Thursday, May 8th, at 12:15 pm, we are thrilled to welcome Julieta Caunedo, Cornell University, Julieta Caunedo, to our Macro-CRC TR 224 Seminar (CRC TR 224 EPoS Bonn-Mannheim Department of Economics, University of Mannheim). She will present: “On the Investment Network and Development.” More info – vwl.uni-mannheim.de/forschung/fors…

Announcing the 4th edition of our workshop, "Firm Heterogeneity and Macro," Dec 11/12, Bonn University. Keynotes by Ellen McGrattan University of Minnesota and Vasco Carvalho Cambridge Economics Submit by July 15th, and please share! More info below #EconTwitter European Research Council (ERC)

ICYMI

⚠️Call for papers for the 4th Macro & firm heterogeneity conference in Dec in Bonn. Keynotes by Ellen McGrattan & Vasco Carvalho. Submit your paper by July 15th. More info here: tinyurl.com/5n8nyy2u #EconTwitter

We are very happy to have Chris Moser this week in our Macro CRC TR 224 EPoS Bonn-Mannheim Seminar Department of Economics, University of Mannheim presenting "The Macroeconomics of Wage Rigidity and Job Separations" Michele Tertilt Klaus Adam Matthias Meier Miren Azkarate-Askasua Ana Moreno-Maldonado Andreas Gulyas Tom Krebs

It's been a blast! Thanks for organizing the workshop Mishel Ghassibe 🇺🇦 Alessandro Ferrari

📢 Only 2 weeks left to submit: 𝗪𝗼𝗿𝗸𝘀𝗵𝗼𝗽 𝗼𝗻 𝗙𝗶𝗿𝗺 𝗛𝗲𝘁𝗲𝗿𝗼𝗴𝗲𝗻𝗲𝗶𝘁𝘆 𝗮𝗻𝗱 𝗠𝗮𝗰𝗿𝗼𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰𝘀 📝Bonn, December 11-12, 2025 🚨Fantastic keynote speakers: Ellen McGrattan University of Minnesota and Vasco Carvalho CamEcon 📅 Application deadline: July 15, 2025

📢Only two days left to apply 📅Application deadline: July 15, 2025

Diese Tage scheinen also uns beiden nicht die günstigsten gewesen zu sein, denn seit ich von Ihnen weg bin hat mich der böse Engel der Empirie anhaltend mit Fäusten geschlagen. Goethe an Schiller 14.7.1798