Program 2026
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Program overview
June 2nd
9:00-10:40
13:30-15:10
June 3rd
9:00-10:40
11:00-12:40
Sessions
Parallel Sessions A
June 2nd · 9:00-10:40 · A · Automation, AI, and Labour Markets Invited
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- From Farm to Factory: Agricultural Mechanization and Occupational Outcomes in Early Twentieth Century America by Henry Siu
- Will AI Adoption Intensify or Weaken Market Competition? by Zheng Liu
- The Demand for Tasks in the Age of AI by Paul Gaggl
- AI in the Office and the Factory: Evidence from Administrative Software Registry Data by Gustavo da Souza
June 2nd · 9:00-10:40 · A · Monetary Policy Communication
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- Building Central Bank Credibility: The Role of Forecast Performance by Michael Mcmahon
- Consumers’ Attention to Monetary Policy: The Importance of Having “Skin in the Game” by Ina Hajdini
- Communicating Policy Under Uncertainty by Thorsten Drautzburg
- Beyond the Actual: The Macroeconomic Implications of the Perceived Taylor Rule by Husang Kim
June 2nd · 9:00-10:40 · A · Firm Dynamics
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- Ownership Changes and Firm Dynamics by Bettina Brueggemann
- Demand-Driven Stagnation: Customer Acquisition and Persistent Firm Growth Slowdowns by Thomas Lazarowicz
- Born Different: Entrepreneurship Through Inventor Mobility, Innovation, and Growth by Ia Vardishvili
- Communication Friction, Managerial Expectation, and Firm Dynamics by Haoran Wang
June 2nd · 9:00-10:40 · A · Innovation, Market Power, and Growth
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- Materials, Technology and Growth: Quantifying the Costs of Circularity by Zachary Mahone
- Endogenous Firm Divergence and Increasing Concentration as a Feature of Long-Run Growth by Oliver Gansfort
- Financial Frictions, Market Power, and Innovation by Pedro Armada
- Experimental and Applied R&D Investment Under Liquidity Constraints by Samson Aklobo
June 2nd · 9:00-10:40 · A · Expectations and Beliefs
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- Signals, Interviews, and Hiring in Labor Market Equilibrium by Ronald Wolthoff
- A Behavioral Foundation for the Investment Wedge by Jean-Paul L'Huillier
- Behavioral Expectations by Miguel Santana
- Kalshi and the Rise of Macro Markets by Anthony Diercks
Parallel Sessions B
June 2nd · 13:30-15:10 · B · Macroeconomic Development Invited
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- The Role of Services as a Driver of Cross-Country Aggregate Productivity Dynamics by Diego Restuccia
- Why AI Reduces Human Capital: Choosing Paychecks Over Diplomas by Santiago Caicedo
- The Macroeconomics of Poverty Across Countries by Duc Nguyen
- Land Property Rights, Financial Frictions, and Resource Allocation in Developing Countries by Kristina Manysheva
June 2nd · 13:30-15:10 · B · Monetary Policy I
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- Structural Changes in Investment and the Waning Power of Monetary Policy by Jacob Weber
- Do Capacity Constraints Affect the Pass-Through of Monetary Policy to Prices? by Edvin Ahlander
- Decomposing the Investment Channel of Monetary Policy by Lennart Niermann
June 2nd · 13:30-15:10 · B · Fiscal Policy and Household Behavior
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- Inflation vs Inclusion: Stabilization Policy in the Wake of the Pandemic by Felipe Alduino Alves
- Welfare and Spending Effects of Consumption Stimulus Policies by Christopher Carroll
- How Ricardian Are We? by Jonathan Adams
- Fiscal Uncertainty in Habit-Forming and Lumpy Economies by Roy Zilberman
June 2nd · 13:30-15:10 · B · Exchange Rates and Open Economy
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- Tariffs, Automation, and Business Dynamism by Michael Devereux
- Insurability and Premia in Foreign Exchange Markets by Suman Basu
- Trade, Specialization, and Inflation by Andreas Westermark
- Monetary and Financial Spillovers: New Historical Evidence from Germany by Patrick Huertgen
June 2nd · 13:30-15:10 · B · Labour Search and Matching
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- The Micro and Macro Implications of Early Career Skills Mismatch by Piero de Dominicis
- The Active Search Premium by Chris Huckfeldt
- Job Search, Job Finding and the Role of Unemployment Insurance History by Similan Rujiwattanapong
- Networks, Sorting, and the Productivity Implications of Immigrant Assimilation by Luke Rawling
Parallel Sessions C
June 2nd · 15:30-17:10 · C · Dynamic Trade Invited
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- Trade Risk and Food Security by Tasso Adamopoulos
- Fiscal Limits to Protectionism: The 2025 US Tariff Laffer Curve by Pau Pujolas
- The Tariff Tax Cut: Tariffs as Revenue by Carter Mix
- Recovering Credible Trade Elasticities from Incredible Trade Reforms by Joseph Steinberg
June 2nd · 15:30-17:10 · C · Financial Frictions and Business Cycles
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- Aggregate Capital and Informality in High Inflation Economies by Gabriel Devoto
- Dry Firms, Deep Recessions: Corporate Payouts and Aggregate Dynamics by Timo Haber
- Asset Purchases in a Monetary Union with Default and Liquidity Risks by Nora Traum
- Firm Cyclicality and Financial Frictions by Filip Rozsypal
June 2nd · 15:30-17:10 · C · Labour Markets
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- When Neighbors Stop Knocking: The Impact of Canada’s 2025 Tourism Decline on U.S. Local Labor Markets by Etienne Lalé
- Furloughs, Employment, and Worker Reallocation in Normal Times by Oskari Vähämaa
- Waiting to Hire and the Business Cycle by Edouard Challe
- Non-Competes, Worker Mobility, and Productivity Growth: Theory and Evidence by Hyejin Park
June 2nd · 15:30-17:10 · C · Housing Markets
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- Mortgage Interest Rate Risk and the Propagation of Shocks by Matías Vieyra
- Matching People to Properties: A Matching Function for the Housing Market by Kevin Sheedy
- Some Apples Fall Far: Skill Premium, Housing Indivisibility, and the Rising Price-to-Rent Ratio by Alexey Khazanov
- United in Booms, Divided in Busts: Regional House Price Cycles and Monetary Policy by Hannes Twieling
June 2nd · 15:30-17:10 · C · Monetary Policy II
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- License to Ease: Competition and Monetary Policy Interaction by Antoine Camous
- Do Monetary Policy Shocks Affect the Neutral Rate of Interest? by Rodrigo Sekkel
- Inventories Matter for the Transmission of Monetary Policy: Uncovering the Cost-of-Carry Channel by Diego de Sousa Rodrigues
Parallel Sessions D
June 3rd · 9:00-10:40 · D · Young Economists Session Invited
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- FX Market Depth and Exchange Rate Volatility by Oliver Vogt
- Private Buffers, Public Fragility: Liquidity Requirements and the Interbank Market by Rafael Berriel
- Strategic Macroeconomic Policymaking: When Does Cooperation Pay Off? by Camilo Granados
June 3rd · 9:00-10:40 · D · Heterogeneous Agents and Household Decisions
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- Aging, Monetary Policy and Wealth Inequality by Christian Bustamante
- On the Effects of Inflation on Real Earnings Risk, Aggregate Demand, and Welfare by Alexander Matusche
- Income Uncertainty, Nonlinear Dynamics, and Consumption: A Subjective Income Expectations Framework by Julio Galvez
- Rationally Inattentive Heterogeneous Agents by Etienne Briand
June 3rd · 9:00-10:40 · D · Taxation and Labour Supply
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- Cohabitation, Marriage, and Tax Policy in the United States by Viola Garstenauer
- Income Taxes and Entrepreneurship by Yuki Yao
- Labor Market Fluidity, Skill Accumulation and the Insurance Effects from Taxes by Pedro Silos
- Tax Design with Transition by Musab Kurnaz
June 3rd · 9:00-10:40 · D · Inflation Dynamics
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- A Decomposition of the Phillips Curve’s Flattening by William Dupor
- The Cost Shocks Pass-Through and the Aggregate Price Volatility by Lucia Veraldi
- State-Dependent Pass-Through with Heterogeneous Exposure to Common Shocks by Julien Martin
- Retail Inventories and Inflation Dynamics: The Price Margin Channel by Julio Ortiz
Parallel Sessions E
June 3rd · 9:00-10:40 · E · Climate, Disasters, and Macroeconomic Stability
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- The New Keynesian Climate Model by Gauthier Vermandel
- Climate Policy, Job Reallocation, and Unemployment Fluctuations in a Multi-Sector Economy by Lilia Karnizova
- Stabilization vs. Growth by Juan M. Sanchez
- Why Is Flood Insurance Take-Up Low? Insights from a Dynamic Model by Daniel Jonas Schmidt
June 3rd · 11:00-12:40 · E · Information and Expectations in Macro Invited
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- Market Signals and the Effects of Nominal Disturbances by Ryan Chahrour
- The News That Moves Inflation Expectations by Jane Ryngaert
- Mirrleesian Carbon Taxation by Alex Kohlhas
- Contagious Business Cycles by Karthik Sastry
June 3rd · 11:00-12:40 · E · Asset Prices and Financial Markets
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- Hysteresis in Asset Liquidity by Lu Wang
- The Effect of Market Power on the Risk-Free Rate and the Equity Premium by Jose Lores
- The Return on Capital in Disaggregated Economies: Theory and Measurement by Andrea Chiavari
- Firm Heterogeneity and Adverse Selection in External Finance: Micro Evidence and Macro Implications by Xing Guo
June 3rd · 11:00-12:40 · E · International Finance and Capital Flows
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- Quantitative Easing in Heterogeneous Monetary Union by Nastasia Henry
- U.S. Stablecoins and the Global Safe Asset Channel: Private Money Meets Public Debt by Daniele Siena
- World Cycles Revisited: Diverging Trends in Prices and Quantities by Antoine Camous
- Short-Run and Long-Run News: Evidence from Giant Commodity Discoveries by Laure Simon
June 3rd · 11:00-12:40 · E · Misallocation and Aggregate Productivity
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- Supply-Side Misallocation Within and Across Farms: Evidence from Italy by Swapnika Rachapalli
- Publicly-Listed Firms, Capital Misallocation, and Aggregate Productivity by Stephen Ayerst
- Bigger and Bigger... But Also Less Connected to Their Hinterland? An Anatomy of the Economic Linkages of Large Cities by Florian Mayneris
- A Quantitative Model for Evaluating Changes in the Duration of Secondary School with an Application to the G8 Reform in Germany by Lara Klein
June 3rd · 11:00-12:40 · E · Inequality and Wealth Dynamics
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- Serial Entrepreneurship: Rethinking Top Wealth Dynamics by Ozgur Karabulut
- Income Inequality and Bank Funding Fragility by Anni Isojaervi
- Disaster Risk and Wealth Inequality by Maximilian Weiß
- The Dynamics of Firm-Level Pay: Theory and Evidence from Portugal by Rui Castro
Parallel Sessions F
June 3rd · 15:30-17:10 · F · Sovereign Debt and Default
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- Sovereign Exposure to the Global Financial Cycle and Unconventional Monetary Policy in Emerging Markets by Anatole Meunier
- Too Much of a Good Thing? Safe Assets, Spillovers, and the Lack of Fiscal Policy Coordination by Matthias Gnewuch
- Irreversibility, Lumpy Investment, and the Dynamics of Public Capital and Sovereign Debt by Alok Johri
- The Role of Market Liquidity in Public Debt Sustainability by Pierre-Edouard Collignon
June 3rd · 15:30-17:10 · F · Optimal Monetary Policy
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- The Third Mandate by Francois Gourio
- On Looking Through Sectoral Shocks: The Role of (De-)Anchored Inflation Expectations by Joost Roettger
- Ramsey Optimal Inflation with Heterogeneous Firms by Henning Weber
- Central Bank Losses and Inflation: 350 Years of Evidence by Martin Kliem
June 3rd · 15:30-17:10 · F · Household Finance and Credit Markets
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- The Changing Value of Employment by Davide Alonzo
- Signaling and Temptation by Joaquin Saldain
- Rethinking Mortgage Design: The Trade-off Between Household Insurance and Financial Stability* by Bulent Guler
- Explaining Contract Heterogeneity in the Credit Card Market by Burcu Eyigungor
June 3rd · 15:30-17:10 · F · Production Networks
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- Tax Rules for Distorted Production Networks by Marek Kapicka
- Markups Accounting by Sergio Ocampo
- Industrial Policy Wars and Inequality: Who Loses and When? by Ziran Ding
- The Transmission of Foreign Shocks in a Networked Economy by José-Elías Gallegos
Participants
Jonathan Adams
Edvin Ahlander
Samson Aklobo
Felipe Alduino Alves
Davide Alonzo
Pedro Armada
Stephen Ayerst
Suman Basu
Rafael Berriel
Etienne Briand
Bettina Brueggemann
Christian Bustamante
Antoine Camous
Rui Castro
Edouard Challe
Andrea Chiavari
Pierre-Edouard Collignon
Piero de Dominicis
Diego de Sousa Rodrigues
Gabriel Devoto
Anthony Diercks
Ziran Ding
Thorsten Drautzburg
William Dupor
Burcu Eyigungor
José-Elías Gallegos
Julio Galvez
Oliver Gansfort
Viola Garstenauer
Francois Gourio
Bulent Guler
Timo Haber
Ina Hajdini
Nastasia Henry
Patrick Huertgen
Anni Isojaervi
Alok Johri
Marek Kapicka
Ozgur Karabulut
Lilia Karnizova
Alexey Khazanov
Husang Kim
Martin Kliem
Musab Kurnaz
Jean-Paul L'Huillier
Etienne Lalé
Thomas Lazarowicz
Zheng Liu
Zachary Mahone
Julien Martin
Alexander Matusche
Florian Mayneris
Michael Mcmahon
Anatole Meunier
Lennart Niermann
Sergio Ocampo
Julio Ortiz
Hyejin Park
Pau Pujolas
Swapnika Rachapalli
Luke Rawling
Joost Roettger
Similan Rujiwattanapong
Jane Ryngaert
Joaquin Saldain
Juan M. Sanchez
Miguel Santana
Karthik Sastry
Daniel Jonas Schmidt
Rodrigo Sekkel
Kevin Sheedy
Daniele Siena
Pedro Silos
Laure Simon
Hannes Twieling
Oskari Vähämaa
Ia Vardishvili
Lucia Veraldi
Gauthier Vermandel
Matías Vieyra
Oliver Vogt
Haoran Wang
Henning Weber
Jacob Weber
Maximilian Weiß
Andreas Westermark
Ronald Wolthoff
Yuki Yao
Roy Zilberman
Camilo Granados
Carter Mix
Filip Rozsypal
Henry Siu
Paul Gaggl
Gustavo da Souza
Diego Restuccia
Santiago Caicedo
Duc Nguyen
Kristina Manysheva
Christopher Carroll
Chris Huckfeldt
Tasso Adamopoulos
Joseph Steinberg
Michael Devereux
Ryan Chahrour
Alex Kohlhas
Jose Lores
Matthias Gnewuch
Nora Traum