SI 2026 Macro Public Finance
Organized by Dirk Krueger, Florian Scheuer, Stefanie Stantcheva, and Aleh Tsyvinski
July 23, 2026
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Thursday, July 23
8:30 am
Coffee and Pastries
Session 1: Climate Policy and Carbon Taxation
9:00 am

Mirrleesian Carbon Taxation

Alexandre N. Kohlhas, University of Oxford
Andrea Chiavari, University of Oxford

Discussant:
Ashley C. Craig, The Australian National University
9:45 am

Optimal Climate Policy with Incomplete Markets

Sebastian Dyrda, University of Toronto
Thomas Douenne, University of Amsterdam
Albert Jan Hummel, University of Groningen
Marcelo Pedroni, University of Amsterdam

Discussant:
Alessandra Peter, New York University and NBER
10:30 am
Break
Session 2: Fiscal Stabilization and Macro Adjustment
11:00 am

Inequality, Business Cycles, and Growth: A Unified Theory of Fiscal Stabilization Policies

Philipp Wangner, University of Mannheim
Alexandre Gaillard, Brown University

Discussant:
Thomas Bourany, Columbia University
11:45 am

A Lost Decade of Fiscal Misallocation

Kosuke Aoki, The University of Tokyo
Ippei Fujiwara, Keio University
Zheng Michael Song, The Chinese University of Hong Kong (CUHK)

Discussant:
Varadarajan V. Chari, University of Minnesota and NBER
12:30 pm
Lunch
Session 3: Redistribution and Optimal Taxation
1:30 pm

Carbon Pricing and Redistribution

Lea Fricke, University of St. Gallen
Clemens Fuest, ifo Institute
Dominik Sachs, University of St. Gallen

Discussant:
Andrea Lanteri, Duke University
2:15 pm

Diamond-Mirrlees meets Sims: Optimal Taxation with Rational Inattention

George-Marios Angeletos, Northwestern University and NBER
Matias Bayas-Erazo, University of Zurich

Discussant:
Ben Lockwood, University of Warwick
3:00 pm
Break
3:30 pm
Session 4: Interest Rates, Asset Prices, and Public Finance
3:30 pm

Low Risk-Free Rates and Intertemporal Arbitrage

Marlon Azinovic-Yang, University of North Carolina at Chapel Hill
Harold L. Cole, University of Pennsylvania and NBER
Felix Kubler, University of Zurich

Discussant:
Wendy A. Morrison, Duke University
4:15 pm

Capital Gains Taxation and Asset Price Volatility

Pau Belda, Bank of England

Discussant:
Harold L. Cole, University of Pennsylvania and NBER
5:00 pm
Adjourn