I did not realize that Sydney is on X: Sydney Ludvigson

Mariacristina De Nardi Konrad Burchardi I do like one version of KS namely to use the prices as moments like in Favilukis Sydney Ludvigson Stijn Van Nieuwerbur. But I still it’s worth thinking about this more systematically again.

Looking forward to this conference! Hope to see you in Rome in May

The fall 2023 NBER Asset Pricing meeting is this Friday. Starts at 8:45am. Livestream here:youtube.com/nbervideos

Sydney Ludvigson, Martin Lettau, and I show that secular shifts in monetary policy + learning can generate very persistent movements in the real interest with significant asset pricing effects

The NBER Summer Institute Asset Pricing meeting will be on livestream on Thursday and Friday, July 13 and 14th. Starting at 8:30 am. Program here:
nber.org/conferences/si…

Live stream link here:
m.youtube.com/nbervideos

Thanks to organizers for inviting me to a great conference and to present work with

Francesco Bianchi
and Sai Ma

Rayhan Momin Noah Williams There actually is a version of Krusell-Smith that makes more sense to me, namely to use the prices themselves as the moments like e.g. in this paper by Favilukis Sydney Ludvigson Stijn Van Nieuwerbur

sydneyludvigson.com/s/hwcJPE.pdf

Excited to be teaching in the Macro Finance Society Virtual Summer School. Learn about inflation and monetary policy in New Keynesian models, and what this means for stocks and bonds! I am planning on lots of hands-on exercises.

The bias in the figure below is computed as a genuine ex ante expectational error, and not via a comparison with ex post historical outcome data. The key insight is that systematic expectational errors should be detectable ex-ante, not just ex-post.

Sydney Ludvigson, Sai Ma, and I just launched a Bias Tracker website. The website posts data on a non-distorted/unbiased benchmark for measuring systematic expectational errors in survey forecasts of four-quarter-ahead inflation and GDP growth

sydneyludvigson.com/bias-tracker

Markets do not want to accept the possibility of a structural break in Federal Reserve policy. See work with Sydney Ludvigson for a formal analysis of these learning and signaling dynamics

John Campbell on Mortgage Choice and Monetary Policy youtu.be/c9IY2nZEPq0 via YouTube

Excited to be organizing this conference on Monetary Policy and Asset Pricing with Rohan Kekre. Send us your best papers! bfi.uchicago.edu/event/mfr-mone…

The NBER Spring Asset Pricing meeting is this Friday starting at 8:45am Central time; find livestream here:

youtube.com/channel/UC79EL…

program here:

nber.org/conferences/as…

What makes inflation costly? Who bears these costs?

In my JMP, I explore an understudied mechanism:

Inflation impairs households’ ability to save for precautionary reasons

How? Let’s take a look at households’ liquid assets portfolios

#EconTwitter #Econjobmarket

NYU Economics is proud to announce its 2022 Job Market Candidates.

Please see the complete list at as.nyu.edu/departments/ec…

Threads on each candidate's research will appear here in the coming days.

Fall NBER Asset Pricing meeting this Friday, including panel on Monetary Policy Challenges and Directions for the Future. Find livestream here: youtube.com/channel/UC79EL…

HUGE congrats and super well deserved, Elena Manresa!! I feel very lucky to have such an amazing colleague 💪💪 And not to forget wonderful friend 😊

The recent sharp increase in the gilt yield pushed the U.K. govt yield higher than the U.S. yield. For a global investor, does it mean
(1) GBP is expected to depreciate against USD;
(2) The UK is more likely to default than the US;
or (3) The gilt becomes more 'inconvenient'?