Mirko Wiederholt November 2016 Goethe University Frankfurt Faculty of Economics and Business Administration 60629 Frankfurt am Main Germany Phone: +49 69 798 33818 Fax: +49 69 798 33923 wiederholt@wiwi.uni-frankfurt.de www.wiwi.uni-frankfurt.de/professoren/wiederholt FIELDS OF INTEREST Macroeconomics; Business Cycles, Monetary Policy, Fiscal Policy, Price Dynamics Information Economics; Rational Inattention, Information Processing, Expectation Formation CURRENT EMPLOYMENT Full Professor (holder of the Chair of Macroeconomics), Goethe University Frankfurt, since Oct 2012 PREVIOUS EMPLOYMENT Assistant Professor, Northwestern University, Department of Economics, 2006 2012 Assistant Professor, Humboldt University Berlin, Department of Economics, 2002 2006 OTHER APPOINTMENTS Head of the Department of Money and Macroeconomics, Goethe University Frankfurt, since Oct 2013 Member of Editorial Board, Review of Economic Studies, since 2013 CEPR Research Fellow, International Macroeconomics Programme CESifo Research Network Affiliate SHORT-TERM VISITING POSITIONS Visiting Scholar, Banque de France Chair at Paris School of Economics, February-April 2016 Visiting Scholar, Federal Reserve Bank of New York, October 2013 Visiting Scholar, Duke University, April 2012 Visiting Scholar, Toulouse School of Economics, December 2011 Visiting Scholar, Federal Reserve Bank of Minneapolis, June 2008 and March-June 2011 Visiting Scholar, CES, Munich, December 2010 Visiting Scholar, EIEF, Rome, September 2003 - August 2004 and July 2010 Visiting Scholar, CREI, Barcelona, April-June 2010 Consultant, European Central Bank, July 2007, August 2008, and August 2010 EDUCATION Ph.D. in Economics, European University Institute, Florence, June 2003 Thesis title: Markets for Information, Allocation of Capital, and Growth in Open Economies Thesis committee: Giuseppe Bertola, Tim Besley, Omar Licandro, Jean-Charles Rochet Visiting Ph.D. Student, London School of Economics, 2000 M.A. in Economics (Diplom in Volkswirtschaftslehre), Humboldt University Berlin, 1998 1
PUBLICATIONS AND WORKING PAPERS [1] Optimal Sticky Prices under Rational Inattention (with Bartosz Maćkowiak) American Economic Review, 2009, Volume 99(3): 769-803. [2] Sectoral Price Data and Models of Price Setting (with Bartosz Maćkowiak, Emanuel Moench) Journal of Monetary Economics, 2009, Volume 56(S): 78-99. [3] Rational Inattention The New Palgrave Dictionary of Economics, Online Edition, 2010, Palgrave Macmillan [4] Information Processing and Limited Liability (with Bartosz Maćkowiak) American Economic Review (Papers & Proceedings), 2012, Volume 102(3): 30-34. [5] Exogenous Information, Endogenous Information, and Optimal Monetary Policy (with Luigi Paciello) Review of Economic Studies, 2014, Volume 81(1): 356-388. [6] Business Cycle Dynamics under Rational Inattention (with Bartosz Maćkowiak) Review of Economic Studies, 2015, Volume 82(4): 1502-1532. [7] Empirical Properties of Inflation Expectations and the Zero Lower Bound revise-and-resubmit, Journal of Political Economy [8] Inattention to Rare Events (with Bartosz Maćkowiak) submitted [9] The Rational Inattention Filter (with Bartosz Maćkowiak and Filip Matejka) submitted OLDER WORKING PAPERS [10] Markets for Information and Allocation of Capital across Countries (Chapter 1 of my Ph.D.) WORK IN PROGRESS [11] Inflation Expectations and Choices of Households: Evidence from Matched Survey and Administrative Data (with Nate Vellekoop) [12] Optimal Central Bank Communication [13] A Wake-up Call Theory of Recessions 2
INVITED SEMINARS 2015: Bank of Spain, Humboldt University Berlin, Stanford University, Universitat Autonoma de Barcelona, University of California Berkeley, University of Oslo 2014: Bank of Italy, Bocconi, CERGE-EI Prague, IHS Vienna, Norges Bank, Paris School of Economics, Schumpeter Seminar Berlin, University College London, University of Amsterdam, University of Mannheim 2013: Bank of England, Banque de France, Bundesbank, Bilkent University, Boston University, CEMFI, EIEF, Federal Reserve Bank of New York, LSE, University of Cambridge, University of Hamburg, University of Minnesota 2012: Duke University, Goethe University Frankfurt, New York University, University College London, University of Oxford, University of Rochester, Washington University in St. Louis 2011: Federal Reserve Bank of Chicago, Federal Reserve Bank of Minneapolis, Penn State University, Toulouse School of Economics, University of Bonn 2010: Cornell University, European Central Bank, HEC Montreal, Institute for International Economic Studies, Universitat Autonoma de Barcelona, Universitat Pompeu Fabra, University of California Los Angeles, University of Mannheim, University of Maryland 2009: New York University, Princeton University, Toulouse School of Economics, University of Bonn, University of Montreal, University of Wisconsin at Madison, Wharton-Finance, Yale 2008: Bank of Canada, Columbia University, DePaul University, Federal Reserve Bank of Chicago, Federal Reserve Bank of Minneapolis, Federal Reserve Bank of Richmond, Harvard University, MIT, Stony Brook University, University of California San Diego, University of Chicago, University of Hong Kong 2007: European University Institute, Federal Reserve Board, Purdue University, University of California Los Angeles 2006: Northwestern University 2005: European Central Bank, Goethe University Frankfurt, Institute for Advanced Studies - Vienna, Northwestern University, University of Iowa 3
CONFERENCE PRESENTATIONS 2015: Annual Meeting of the Society for Economic Dynamics, Warsaw BdF-FRBNY workshop on Forward Guidance and Expectations, New York Bundesbank workshop on Inflation Target and Expectations Anchoring, Frankfurt ECB conference Challenges for Macroeconomic Policy in a Low Inflation Environment Sciences Po workshop in International Finance and Macro Finance Toulouse workshop on Information Frictions in Macroeconomics 2014: Annual Meeting of the Society for Economic Dynamics, Toronto European Summer Symposium in Economic Theory, Gerzensee Conference on Behavioral Aspects in Macroeconomics and Finance, Milan Second conference on Rational Inattention and Related Theories, Oxford 2013: Annual Meeting of the Society for Economic Dynamics, Seoul European Summer Symposium in Economic Theory, Gerzensee Royal Economic Society Conference, London 2012: Annual Meeting of the American Economic Association, Chicago Annual Meeting of the Midwest Economics Association, Evanston Annual Meeting of the Society for Economic Dynamics, Cyprus Conference on Rational Inattention and Related Theories, Prague CREI-CEPR conference on Behavioral Decision Theory, Barcelona Korean Economic Association International Conference, Seoul NBER universities research conference on Insurance Markets and Catastrophe Risk 2011: Annual Meeting of the Society for Economic Dynamics, Ghent CREI-CEPR workshop on Information, Beliefs and Expectations in Macroeconomics Cologne workshop on Macroeconomics European Central Bank conference on Information, Beliefs and Economic Policy, Frankfurt LAEF conference on Information and Macroeconomics, Santa Barbara NBER Monetary Economics Program Meeting, Cambridge MA North American Winter Meeting of the Econometric Society, Denver Riksbank conference on Beliefs and Business Cycles, Stockholm 2010: Annual Meeting of the Society for Economic Dynamics, Montreal 2009: Annual Meeting of the Society for Economic Dynamics, Istanbul Cowles Foundation Conference: Information and Beliefs in Macroeconomics, New Haven Minnesota Workshop in Macroeconomic Theory, Minneapolis NBER EFSF Workshop on Methods and Applications for DSGE Models, Philadelphia 4
NBER Summer Institute, Monetary Economics Workshop, Cambridge MA North American Winter Meeting of the Econometric Society, San Francisco 2008: Annual Meeting of the Society for Economic Dynamics, Cambridge MA North American Winter Meeting of the Econometric Society, New Orleans Research on Money and Markets Workshop, Toronto 2007: BoC-ECB conference on Defining Price Stability, Frankfurt 2005: Annual Meeting of the Society for Economic Dynamics, Budapest Econometric Society World Congress, London 3 rd Conference of the RTN Macroeconomic Policy Design for Monetary Unions, London REFEREE American Economic Review, Econometrica, Journal of Political Economy, Quarterly Journal of Economics, Review of Economic Studies, American Economic Journal: Macroeconomics, B.E. Journal of Macroeconomics, Bulletin of Economic Research, Economic Journal, European Economic Review, International Economic Review, Journal of Economic Dynamics and Control, Journal of Economic Theory, Journal of Economics, Journal of the European Economic Association, Journal of Financial Economics, Journal of International Economics, Journal of Monetary Economics, Journal of Money, Credit and Banking, Macroeconomic Dynamics, Oxford Economic Papers, Review of Economic Dynamics, Scandinavian Journal of Economics. National Science Foundation, Czech Science Foundation, German Research Foundation, Netherlands Organisation for Scientific Research Princeton University Press PROGRAM COMMITTEE MEMBER Society for Economic Dynamics (SED) Annual Meeting, 2008-2014 (except for 2010) Econometric Society European Winter Meeting, 2016 Econometric Society World Congress, 2015 Econometric Society European Meeting, 2013-2014 European Economic Association Annual Congress, 2014 Association of Southern European Economic Theorists Annual Meeting, 2008 5
AWARDS Excellence in Refereeing Award, American Economic Review, 2012 and 2013 Susan Schmidt Bies Award in Economics, 2009-2010 First Prize for outstanding teaching in the Graduate School of Economics, Finance, and Management (GSEFM), summer semester 2015 and summer semester 2016 CONFERENCE DISCUSSIONS Claudio Michelacci and Luigi Paciello, Forward Misguidance DFG-CEPR-SAFE Conference on Banking, Monetary Policy, and Macroeconomic Performance Michael Woodford, What Does the Brain Economize? Frontiers of Macroeconomics, A Conference on Martin Eichenbaum s Contributions to Economics Klaus Adam et al., Can a Financial Transaction Tax Prevent Stock Price Booms? JME-SNB Conference on Asset Price Fluctuations and Economic Policy Jordi Gali and Tommaso Monacelli, Understanding the Gains from Wage Flexibility: The Exchange Rate Connection ECB-CEPR conference on Heterogeneity in Currency Areas Gilles Saint-Paul, A Quantized Approach to Rational Inattention Annual Meeting of the American Economic Association 2012 George-Marios Angeletos and Jennifer La O, Optimal Monetary Policy with Informational Frictions Annual Meeting of the American Economic Association 2012 Sushant Acharya, Costly Information, Planning Complementarities and the Phillips Curve Annual Meeting of the American Economic Association 2011 Roger Farmer, Fiscal Policy Can Reduce Unemployment: But There is a Better Alternative Federal Reserve Bank of Atlanta Conference on New Approaches to Fiscal Policy, 2010 William Branch et al., Adaptive Learning, Endogenous Inattention, and Changes in Monetary Policy Annual Meeting of the American Economic Association 2008 Laura Veldkamp and Justin Wolfers, Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement NBER Monetary Economics Program Meeting, 2006 Christopher A. Sims, Rational Inattention: A Research Agenda Bundesbank and SFB 649 conference, 2005 6
TEACHING Humboldt University Berlin: Northwestern University: Goethe University Frankfurt: Introduction to Macroeconomics (undergraduate) Advanced Macroeconomic Analysis (1 st year Ph.D. course) Introduction to Macroeconomics (undergraduate) International Trade (undergraduate) Advanced Macroeconomics (2 nd year Ph.D. course) Intermediate Macroeconomics (undergraduate) Business Cycle Theory and Policy I and II (undergraduate) Advanced Macroeconomic Theory II (1 st year Ph.D. course) Information and Macroeconomics (2 nd year Ph.D. course) 7