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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.", "occurrence_notes":null, "guid":"143293-21892650@events.umich.edu", "permalink":"http:\/\/events.umich.edu\/event\/143293", "building_id":"1005177", "building_name":"North Quad", "campus_maps_id":"553", "room":"4325", "location_name":"North Quad", "has_livestream":0, "cost":"", "tags":["Economics","Macroeconomics","seminar"], "website":"http:\/\/www.lsa.umich.edu\/econ", "sponsors":[ { "group_name":"Department of Economics", "group_id":"3302", "website":"http:\/\/www.lsa.umich.edu\/econ" }, { "group_name":"Michael Beauregard Seminar in Macroeconomics", "group_id":"3552", "website":"" }, { "group_name":"Department of Economics Seminars", "group_id":"3566", "website":"" } ], "image_url":"https:\/\/events.umich.edu\/media\/attachments\/2026\/01\/event_143293_original-1.png", "styled_images":{ "event_thumb":"https:\/\/events.umich.edu\/media\/cache\/event_thumb\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_large":"https:\/\/events.umich.edu\/media\/cache\/event_large\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_large_2x":"https:\/\/events.umich.edu\/media\/cache\/event_large_2x\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_large_lightbox":"https:\/\/events.umich.edu\/media\/cache\/event_large_lightbox\/media\/attachments\/2026\/01\/event_143293_original-1.png", "group_thumb":"https:\/\/events.umich.edu\/media\/cache\/group_thumb\/media\/attachments\/2026\/01\/event_143293_original-1.png", "group_thumb_square":"https:\/\/events.umich.edu\/media\/cache\/group_thumb_square\/media\/attachments\/2026\/01\/event_143293_original-1.png", "group_large":"https:\/\/events.umich.edu\/media\/cache\/group_large\/media\/attachments\/2026\/01\/event_143293_original-1.png", "group_large_lightbox":"https:\/\/events.umich.edu\/media\/cache\/group_large_lightbox\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_large_crop":"https:\/\/events.umich.edu\/media\/cache\/event_large_crop\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_list":"https:\/\/events.umich.edu\/media\/cache\/event_list\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_list_2x":"https:\/\/events.umich.edu\/media\/cache\/event_list_2x\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_grid":"https:\/\/events.umich.edu\/media\/cache\/event_grid\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_grid_2x":"https:\/\/events.umich.edu\/media\/cache\/event_grid_2x\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_feature_large":"https:\/\/events.umich.edu\/media\/cache\/event_feature_large\/media\/attachments\/2026\/01\/event_143293_original-1.png", "event_feature_thumb":"https:\/\/events.umich.edu\/media\/cache\/event_feature_thumb\/media\/attachments\/2026\/01\/event_143293_original-1.png" }, "occurrence_count":1, "first_occurrence":21892650 } , "143865-21894139": { "datetime_modified":"20260224T112048", "datetime_start":"20260224T120000", "datetime_end":"20260224T140000", "has_end_time":1, "date_start":"2026-02-24", "date_end":"2026-02-24", "time_start":"12:00:00", "time_end":"14:00:00", "time_zone":"America\/Detroit", "event_title":"CommuniTEA w\/ UCC", "occurrence_title":"CommuniTEA w\/ University Career Center (UCC)", "combined_title":"CommuniTEA w\/ UCC: CommuniTEA w\/ University Career Center (UCC)", "event_subtitle":"", "event_type":"Workshop \/ Seminar", "event_type_id":"21", "description":"Weekly gathering for students, staff, and faculty to build community with the Trotter Team and discuss the week\u2019s 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!", "occurrence_notes":null, "guid":"143865-21894139@events.umich.edu", "permalink":"http:\/\/events.umich.edu\/event\/143865", "building_id":"", "building_name":"", "campus_maps_id":"", "room":"", "location_name":"", "has_livestream":0, "cost":"", "tags":["Sessions"], "website":"https:\/\/sessions.studentlife.umich.edu\/p\/track\/16191", "sponsors":[ { "group_name":"Sessions @ Michigan", "group_id":"4791", "website":"https:\/\/sessions.studentlife.umich.edu\/" } ], "image_url":"", "styled_images":{ "event_thumb":"", "event_large":"", "event_large_2x":"", "event_large_lightbox":"", "group_thumb":"", "group_thumb_square":"", "group_large":"", "group_large_lightbox":"", "event_large_crop":"", "event_list":"", "event_list_2x":"", "event_grid":"", "event_grid_2x":"", "event_feature_large":"", "event_feature_thumb":"" }, "occurrence_count":1, "first_occurrence":21894139 } }