Welcome! მოგესალმებით!
I am a Ph.D. candidate at the Graduate School for Economics, Finance and Management at the Goethe University Frankfurt where I additionally work as a research and teaching assistant. I am also a member of the Institute for Monetary and Financial Stability.
I am an applied theorist in the area of macroeconomics. My research focuses on information frictions in general equilibrium models, household heterogeneity and monetary policy.
I hold a Bachelor's and Master's degree in Economics from the University of Bern. During September 2023-March 2024, I was a trainee at the ECB, DG-Economics.
You can find my CV here
I am on the 2024/25 job market!
Research Papers
Job Market Paper | Heterogeneous Attention to Inflation and Monetary Policy
with Ekaterina Shabalina
We study how heterogeneous attention to inflation affects monetary policy transmission. Using household-level surveys for the US and Australia we first show that households’ attention to inflation varies with income level. We find that high-income households pay higher attention to inflation compared to other income groups. To quantify the effects for monetary policy transmission, we build a HANK model with endogenous income inequality obtained through an endogenous occupational choice where level of attention varies along the income distribution. We find that compared to fully rational inflation expectations, monetary policy faces a better inflation-output trade-off when expectations are anchored due to large indirect effects which manifest through a larger perceived fall in labor income after a monetary policy tightening. The better trade-off is achieved amid a larger decrease in welfare among low-earners.
Inattentiveness and the Taylor Principle
with Alexander Meyer-Gohde
Revise & Resubmit, Journal of Economic Theory
We present determinacy bounds on monetary policy in three models of inattentiveness - sticky information, imperfect common knowledge, and arbitrary finite inatten- tiveness. We find that these bounds are identical across these models as they all share a common vertical long run Phillips curve. The resulting bounds are more conservative than in the standard Calvo sticky price New Keynesian model. Specifically, the Taylor principle is now necessary directly - no amount of output targeting can substitute for the monetary authority’s concern for inflation. These determinacy bounds are obtained by appealing to frequency domain and forecasting/prediction innovation techniques that themselves provide novel interpretations of the Phillips curves.
Selected Work in Progress
What drives the NAIRU?
with Guzmán González-Torres Fernandez and Marco Weißler
Estimating Inattention in Models with Information Frictions
Teaching
Advanced Macroeconomic Theory (Ph.D.)
This course introduces students to the solution and analysis of structural real business cycle and of New Keynesian models. We cover the analytics of value function iteration, Howard’s Improvement and the linearization of rational expectations models. The students also learn local nonlinear approximation and perturbation methods.
Monetary Theory and Policy (Master)
This course introduces students to New Keynesian DSGE models. Students learn how to derive, solve and simulate simple DSGE models. In class we also analyze the effects of nominal rigidities, optimal monetary policy and the effects of exogenous shocks.
Business Cycle Theory and Policy (Bachelor)
The course introduces students to Real Business Cycle theory and New Keynesian theory. Students learn to understand, apply and solve real business cycle macroeconomic models using dynamic optimization and loglinearization techniques. This course also gives a light introduction on how to use and apply numerical analysis programs like Matlab and Dynare.
Macroeconomics 2 (Bachelor)
This course provides an introduction to advanced macroeconomics at the undergraduate level. The course covers basic macroeconomic growth models such as the general Solow and endogenoues growth models as well as business cycle models.