In a data economy, transactions of goods and services generate information, which is stored,
traded and depreciates. How are the economics of this economy different from traditional …

At the outbreak of the recent inflation surge, the public's attention to inflation was low but
increased rapidly once inflation started to rise. In this paper, I develop a general equilibrium …

We develop a method of solving rational expectations models with dispersed information
and dynamic strategic complementarities. In these types of models, the equilibrium outcome …

Abstract We develop a New Keynesian model with household heterogeneity and bounded
rationality in the form of cognitive discounting. The interaction of household heterogeneity …

This paper characterizes the effects of ambiguity aversion under dispersed information. The
equilibrium outcome is observationally equivalent to a Bayesian forecast of the fundamental …

Countercyclical unemployment benefit extensions in the United States act as a propagation
mechanism, contributing to the high persistence of unemployment following recent …

Neither theory nor existing empirical evidence support the notion that wealth taxation
reduces saving. Theoretically, the effect is ambiguous due to opposing income and …

We study how people's beliefs about the economy covary with household-level events,
utilizing a unique link between Danish administrative data and a large-scale survey of …

Idiosyncratic labor risk is a prevalent phenomenon with important implications for individual
choices. In labor market research it is commonly assumed that agents have rational …

Abstract Models of microeconomic consumption (including those used in HA-macro models)
typically calibrate the size of income risk to match panel data on household income …