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Microeconomic Heterogeneity and Macroeconomic Shocks

Greg Kaplan, Giovanni L. Violante

NBER Working Paper No. 24734
Issued in June 2018

---- Acknowledgments ----

A shorter, non-technical version of this paper with the same title is published in the Journal of Economic Perspectives, as part of a symposium on Macroeconomics after the Great Recession. We are grateful to Felipe Alves for outstanding research assistance and to Mark Gertler, David Lopez-Salido, Virgiliu Midrigan, Ben Moll, Matt Rognlie, Tom Sargent and Christian Wolf for comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Greg Kaplan ----

Disclosure Statement

Greg Kaplan

January 2018

Current primary appointment:

• Professor, Department of Economics and the College, University of Chicago

Current additional appointments

• Advisory Board Member, Opportunity and Inclusive Growth Institute, Federal Reserve Bank of Minneapolis

• Research Council, Becker Freidman Institute

• Advisory Board Member, NBER Macroeconomics Annual

• Consultant, Federal Reserve Bank of Chicago

• Research Associate, National Bureau of Economic Research

• International Research Fellow, Institute for Fiscal Studies

Previous additional appointments in last five years

• Visiting Professor, University of New South Wales

• Economic Advisor, Reserve Bank of Australia

• Editor, Review of Economic Dynamics

• Consultant, Federal Reserve Bank of Philadelphia

Organizations from which I have received cumulative amounts >= USD10,000 in last five years

• University of New South Wales

• Reserve Bank of Australia

• Federal Reserve Bank of Minneapolis

• Center for Monetary and Financial Studies (CEMFI)

• United States Soccer Federation

With reference to the paper “Microeconomic Heterogeneity and Macroeconomic Shocks”:

• I obtained no direct financial support for this research.

• I declare that no other party had the right to review this paper prior to circulation.

---- Disclosure of Financial Relationships for Giovanni L. Violante ----

Disclosure Statement

Giovanni Violante

June 2018

Current primary appointment

• Professor, Department of Economics, Princeton University

Current additional appointments

• Research Associate, National Bureau of Economic Research

• Research Associate, Centre for Economic Policy Research

• Research Associate, IZA-Institute of Labor Economics

• Research Associate, Center for Economic Behavior and Inequality

• International Research Fellow, Institute for Fiscal Studies

• Regular Research Visitor, European Central Bank

• Co-Editor, Econometrica

• Carnegie-Rochester-NYU CSPP Advisory Board Member

• Co-Leader, NBER EFG Group Macro Data Macro Models

Previous additional appointments in last five years

• William R. Berkley Professor of Economics, New York University

• Kumho Visiting Professor, Yale University

• Simpson Visiting Professor, Princeton University

• Managing Editor, Review of Economic Dynamics

• Consultant, Federal Reserve Bank of New York

Organizations (besides my main employers, NYU until 2017 and Princeton since 2017) from which I have received cumulative amounts >= USD 10,000 in last five years

• Econometric Society

• Society for Economic Dynamics

• European Central Bank

• Yale University

• University of Oslo

• Fondazione Rodolfo De Benedetti

• IMF

• Bank of Portugal

• Sloan Foundation

• NSF

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