Program Meeting Summer 2021

Economic Fluctuations and Growth

Members of the NBER’s Economic Fluctuations and Growth Program met online on July 17. Faculty Research Fellow Jennifer La’O of Columbia University and Research Associate Giovanni L. Violante of Princeton University organized the meeting. These researchers’ papers were presented and discussed:

• Cecilia R. Caglio and Matthew Darst, Federal Reserve Board, and Şebnem Kalemli-Özcan, University of Maryland and NBER, “Risk-Taking and Monetary Policy Transmission: Evidence from Loans to SMEs and Large Firms” (NBER Working Paper 28685)
• Daron Acemoglu, Massachusetts Institute of Technology and NBER, and Pascual Restrepo, Boston University and NBER, “Tasks, Automation, and the Rise in US Wage Inequality” (NBER Working Paper 28920)
• Martin S. Eichenbaum, Northwestern University and NBER, and João Guerreiro and Riccardo Bianchi Vimercati, Northwestern University, “Fiscal Policy at the Zero Lower Bound without Rational Expectations”
• Daniel Greenwald, Massachusetts Institute of Technology; Matteo Leombroni, Stanford University; Hanno Lustig, Stanford University and NBER; and Stijn Van Nieuwerburgh, Columbia University and NBER, “Financial and Total Wealth Inequality with Declining Interest Rates” (NBER Working Paper 28613)
• Sergio de Ferra and Federica Romei, University of Oxford, and Kurt Mitman, Institute for International Economic Studies, “Why Does Capital Flow from Equal to Unequal Countries?”
• Francisco J. Buera and Yongseok Shin, Washington University in St. Louis and NBER; Hugo Hopenhayn, University of California, Los Angeles and NBER; and Nicholas Trachter, Federal Reserve Bank of Richmond, “Big Push in Distorted Economies” (NBER Working Paper 28561)

Summaries of these papers are at https://www.nber.org/conferences/economic-fluctuations-and-growth-summer-2021