Heterogeneous-Agent Macroeconomics Workshop
Organized by Adrien Auclert, Adrien Bilal, Matthew Rognlie, and Ludwig Straub
Supported by the National Science Foundation
June 4-6, 2025
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA 02142
Workshop Repository
Wednesday, June 4
8:00am
Breakfast
8:15am
Welcome and Overview
Methods and the Canonical HANK Model
8:30am
Review of the Standard Incomplete Markets Model
Matthew Rognlie, Northwestern University and NBER
9:45am
Break
10:00am
Intro to HANK Models: Fiscal Policy
Ludwig Straub, Harvard University and NBER
11:15am
Break
11:30am
Intro to the Sequence Space and Jacobians
Matthew Rognlie, Northwestern University and NBER
12:45pm
Lunch
2:15pm
Intro to HANK Models: Monetary Policy
Adrien Auclert, Stanford University and NBER
3:30pm
Break
3:45pm
Tutorial: Basic Fiscal and Monetary Policy
Ludwig Straub, Harvard University and NBER
5:00pm
Adjourn
6:30pm
Dinner, Riverfront Room
Thursday, June 5
8:00am
Breakfast
Monetary and Fiscal Policy in the Sequence Space
8:30am
Tutorial: SSJ Approach and Toolkit
Matthew Rognlie, Northwestern University and NBER
9:45am
Break
10:00am
Fiscal and Monetary Policy Topics
Adrien Auclert, Stanford University and NBER
11:15am
Break
11:30am
Stochastic Economies and Estimation
Adrien Auclert, Stanford University and NBER
12:45pm
Lunch
2:15pm
Open Economy HANK Models
Ludwig Straub, Harvard University and NBER
2:45pm
Break
3:00pm
Determinacy in the Sequence Space
Matthew Rognlie, Northwestern University and NBER
3:30pm
Break
3:45pm
Large-Scale Models
Matthew Rognlie, Northwestern University and NBER
4:15pm
Break
4:30pm
HA Models from FRB Economists and Life-Cycle Jacobians (slides)
Mateo Velásquez-Giraldo, Board of Governors of the Federal Reserve System
5:00pm
Adjourn
6:30pm
Dinner, Riverfront Room
Friday, June 6
8:00am
Breakfast
Advanced Topics
8:30am
HANK in Continuous Time
Adrien Bilal, Stanford University and NBER
9:45am
Break
10:00am
Smooth Methods for Standard Incomplete Markets
Matthew Rognlie, Northwestern University and NBER
10:30am
Break
10:45am
Second Order Solutions in Sequence Space
Adrien Auclert, Stanford University and NBER
11:15am
Break
11:30am
Household Portfolios
Adrien Auclert, Stanford University and NBER
12:00pm
Break
12:15pm
Non Rational Expectations
Ludwig Straub, Harvard University and NBER
12:45pm
Lunch
2:15pm
Price Setting
Ludwig Straub, Harvard University and NBER
2:45pm
Break
3:00pm
Optimal Long-Run Policy
Ludwig Straub, Harvard University and NBER
3:30pm
Adjourn