Applied Microeconomics
Applied Microeconomics
The Applied Microeconomics research group unites researchers working on a broad array of topics within such areas as labour economics, economics of education, health economics, family economics, urban economics, environmental economics, and the economics of science and innovation. The group operates in close collaboration with the CAGE Research Centre.
The group participates in the CAGE seminar on Applied Economics, which runs weekly on Tuesdays at 2:15pm. Students and faculty members of the group present their ongoing work in two brown bag seminars, held weekly on Tuesdays and Wednesdays at 1pm. Students, in collaboration with faculty members, also organise a bi-weekly reading group in applied econometrics on Thursdays at 1pm. The group organises numerous events throughout the year, including the Research Away Day and several thematic workshops.
Our activities
Work in Progress seminars
Tuesdays and Wednesdays 1-2pm
Students and faculty members of the group present their work in progress in two brown bag seminars. See below for a detailed scheduled of speakers.
Applied Econometrics reading group
Thursdays (bi-weekly) 1-2pm
Organised by students in collaboration with faculty members. See the Events calendar below for further details
People
Academics
Academics associated with the Applied Microeconomics Group are:
Research Students
Events
MIMA (Microeconomics Workshop in Macroeconomic Theory) - Oliver Pfauti (Yale)
Title: A Behavioral Heterogeneous Agent New Keynesian Model
Abstract: “We develop a New Keynesian model with household heterogeneity and bounded rationality in the form of cognitive discounting. The resulting behavioral heterogeneous agent New Keynesian model is consistent with recent empirical facts about the effectiveness and the transmission mechanisms of monetary and fiscal policy: monetary policy is amplified through indirect general equilibrium effects, fiscal multipliers on consumption are positive and the model delivers empirically-realistic intertemporal marginal propensities to consume. Simultaneously, and consistent with the data, the model resolves the forward guidance puzzle and remains stable at the effective lower bound as the model features equilibrium determinacy even under an interest-rate peg. The model is analytically tractable and nests a wide range of existing models as special cases, none of which can produce all the listed features within one model. We further show how the main insights from the tractable model extend to a quantitative version of the model, how the model-implied household expectations can be aligned with recent findings from survey data, and how to derive an equivalence result between heterogeneous-household models with bounded rationality and those featuring incomplete information and learning.”
This MIMA session is via Zoom, information below
Time: 31/05/2022, Tuesday 05:00 PM London
Zoom Link: https://us02web.zoom.us/j/81719302554?pwd=TTFMVUhwSjRobERnK0czRXZFeEpXZz09
Meeting ID: 817 1930 2554 Passcode: MIMA