Our primary faculty research groups are focused in our five core areas: applied microeconomics, econometrics, economic theory, finance, and macroeconomics. Our joint faculty includes experts from the Carey Business School and the School of Advanced International Studies.
Macroeconomics Group
Coverage includes: domestic macroeconomics, international finance, international macroeconomics, macro-financial linkages, monetary theory and policy, and time-series econometrics
- Faculty: Laurence Ball, Francesco Bianchi, Christopher Carroll, Stelios Fourakis, Olivier Jeanne, Jonathan Wright
- Joint Appointed Faculty: Carlos Vegh (School of Advanced International Studies)
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Misclassification Errors In Labor Force Statuses and the Early Identification of Economic Recessions
Accurate identification of economic recessions in a timely fashion is a major macroeconomic challenge. The so-called Sahm recession indicator (Sahm, 2019), one of the most reliable early detectors of the U.S. recessions, relies on changes in unemployment rates, and is thus subject to misclassification errors in labor force statuses based on survey data. We propose…
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Missing Events in Event Studies: Identifying the Effects of Partially Measured News Surprises
Macroeconomic news announcements are elaborate and multi-dimensional. We consider a framework in which jumps in asset prices around announcements reflect both the response to observed surprises in headline numbers and to latent factors, reflecting other news in the release. Non-headline news, for which there are no expectations surveys, is unobservable to the econometrician but nonetheless…
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The Supplemental Expenditure Poverty Measure: A New Method for Measuring Poverty
A new method of measuring poverty in the United States—based on families’ spending and easily accessible resources—finds that about eight million more people lived in poverty in 2019 than reported by the government’s conventional income-based approach, according to a paper discussed at the Brookings Papers on Economic Activity (BPEA) conference on March 25, 2022.