Quantitative Macroeconomics Reading Group (Fall 2021)
First/second year MRes./Ph.D. students in economics

Times
Meetings from 2:30-3:30pm on Fridays
Online format through MS Teams

Rules
- Students to prepare 45 minutes of slides (including questions).
- Students have 15 slide limit.
- Faculty has the option to present slides in the final 15 minutes.
- Faculty and student to meet once during the week lead-up to the seminar.

Paper suggestions
Bradley:
- "The Effect of Asset Holdings on Worker Productivity", Eeckhout & Sepahsalari (2018).
- "Granular Search, Market Structure, and Wages" by Jarosch, Nimczik & Sorkin (2019).

Graziano
- "How Costly are Markups?", Edmond, Midrigan & Xu (2021)

Impullitti
- "A Schumpeterian model of top income inequality", Journal of Political Economy, Jones & Kim (2018)
- "Innovation and top income inequality", Review of Economic Studies, Aghion, Bergeaud, Blundell & Hemous (2019)
- "The rise of market power and macroeconomic implications", Quarterly Journal of Economics, De Loecker, Eeckhout & Unger (2020)
- "What happened to U.S. business dynamism", Akcigit & Ates (2019)
- "Are markups too high? Competition, strategic innovation and industry dynamics, Cavenaile, Celik & Tian (2021)

Licandro
- "Innovation, reallocation, and growth", American Economic Review, Acemoglu et al. (2018).
- "Reconciling models of diffusion and innovation: a theory of the productivity distribution and technology frontier", Econometrica, Benhabib, Perla & Tonetti, Forthcoming.
- "Welfare and Output with Income Effects and Taste Shocks", Baqaee & Burstein (2021)

Mukherjee
- "The sources of capital misallocation", American Economic Review, David & Venkateswaran (2019)
- "A global view of creative destruction", Hsieh, Klenow & Nath (2019)
- "A search-based necoclassical model of capital reallocation", European Economic Review, Dong, Wang & Wen (2020)

Ruggieri
- "Labor market dynamics when ideas are harder to find", Bilal, Engbom, Mongey & Violante (2021)
- "Globalization, trade imbalances and labor market adjustment", Dix-Carneiro, Pessoa, Reyes-Heroles and Traiberman (2021)
- "Unemployment and development", Feng, Lagakos and Rauch (2018)

Spencer
- "Agency conflicts and cash", Journal of Finance, Nikolov & Whited (2014)
- "Equity Market Misvaluation, Financing, and Investment", Review of Financial Studies, Warusawitharana & Whited (2016)

Vizcaino
- "Structural change in labor supply and cross-country differences in hours worked", Blick, Fuchs-Schundeln, Lagakos & Tsujiyama (2021)
- "Demographics, wealth and global imbalances in the twenty first century", Auclert, Malmberg, Martenet & Rognile (2021)
- "Intangibles, markups and the measurement of productivity growth", Crouzet & Eberly (2021)
- "The elusive explanation for the declining labor share", Grossman & Oberfield (2021)

Schedule
Fall:
(1) 15th October 2021: "Innovation, reallocation, and growth" presented by Siachoque & Licandro
(2) 22nd October 2021: "The sources of capital misallocation" presented by Elbardi & Mukherjee
(3) 29th October 2021: "The Effect of Asset Holdings on Worker Productivity" presented by Barnes & Bradley
(4) 5th November 2021: "Structural change in labor supply and cross-country differences in hours worked" presented by Lamarmora & Vizcaino
(5) 12th November 2021: "Globalization, trade imbalances and labor market adjustment" presented by Decker & Ruggieri
(6) 19th November 2021: "Aggregate-demand amplification of supply disruptions: The entry-exit multiplier" presented by Sampaolesi & Impullitti
(7) 3rd December 2021: “How Costly are Markups?" presented by Braga & Graziano
(8) 10th December 2021: "Agency conflicts and cash" presented by Arens & Spencer