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
Macro/International Seminar - Tommaso Monacelli (Bocconi)
Title: HBANK: Monetary Policy with Heterogeneous Banks
Abstract: We study monetary, liquidity, and macroprudential policy transmission in a Heterogeneous Bank New Keynesian (HBANK) model that is solved in sequence space. Using a sufficient-statistic approach, we show that the combination of incomplete markets and costly bank insolvency breaks the “as-if” result, generating substantial amplification of policy shocks relative to the representative-bank benchmark. There is a trade-off between macroeconomic and financial stabilization: contractionary monetary policy worsens financial stability by raising the likelihood of bank insolvency in the lower tail of the bank size distribution. We enrich our baseline framework with departures from perfect deposit and credit market competition and apply it to the study of monetary, forward guidance, macroprudential, and reserve requirement policies. We validate our model empirically with novel cross-sectional and time-series facts on U.S. commercial banks.