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DTSTART:20070311T020000
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DTSTAMP:20260211T083450
DTSTART;TZID=America/Detroit:20260224T113000
DTEND;TZID=America/Detroit:20260224T125000
SUMMARY:Workshop / Seminar:HANK’s Response to Aggregate Uncertainty in an Estimated Business Cycle Model
DESCRIPTION:This paper studies a HANK model with agents who respond to both idiosyncratic and aggregate uncertainty. Since aggregate uncertainty is modeled as ambiguity\, it affects the steady state and linearized dynamics\, allowing for fast computation and estimation. The interaction of aggregate uncertainty shocks and portfolio frictions generates a high capital premium as well as most cyclical comovement in macroeconomic aggregates. Heterogeneity in portfolios is crucial: when it is shut down\, the model fails to explain investment dynamics and the capital premium disappears. Cautious price and wage setting by firms in anticipation of aggregate uncertainty shapes employment and inflation dynamics.
UID:143293-21892650@events.umich.edu
URL:https://events.umich.edu/event/143293
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,Macroeconomics,seminar
LOCATION:North Quad - 4325
CONTACT:
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BEGIN:VEVENT
DTSTAMP:20260224T112048
DTSTART;TZID=America/Detroit:20260224T120000
DTEND;TZID=America/Detroit:20260224T140000
SUMMARY:Workshop / Seminar:CommuniTEA w/ UCC
DESCRIPTION:Weekly gathering for students\, staff\, and faculty to build community with the Trotter Team and discuss the week’s events. Organizations and units are encouraged to collaborate and offer light refreshments or share tea practices that center their cultural practices. Come join us for good conversation\, food and fun!
UID:143865-21894139@events.umich.edu
URL:https://events.umich.edu/event/143865
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Sessions
LOCATION:
CONTACT:
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