Professor of Economics at University of Tübingen
Tübingen, Deutschland
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We combine Romer-Romer's identification with Wu-Xia's shadow rate. Using the same identification across conventional and unconventional episodes, we can test differences in MP holding identification constant.
Code with automatic shock updates here: github.com/ralphluet/unified…
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Ralph Lütticke retweeted
🏫 BASEforHANK Spring School 2027 in Berlin!
Learn to use HANK models with @christianbaye13, @bornecon, & @RalphLuet!
Last cohort: ⭐ 4.6/5 · 100% would recommend · 9 of 11 said “better than expected”
📅 1–10 March 2027
⏳ Apply by 15 Nov
diw.de/de/diw_01.c.1020133.d…
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📣 Level up in HANK modeling: BASEforHANK is back!
Following our Winter School, @christianbaye13, @bornecon and I are running the BASEforHANK Spring School, March 1–10, 2027, at @DIW_Berlin.
Want to solve and estimate HANK models for your own research? Join us for hands-on training in Julia with BASEtoolbox.jl; from household problems and equilibrium computation to solving and estimating heterogeneous-agent business-cycle models.
Already working with HANK? We’ll also cover:
Two-country HANK models
Aggregate uncertainty with ambiguity-averse agents
Higher-order perturbation using the DEGM approach
💻 March 1–5: foundations, online
📍 March 8–10: advanced HANK methods, in person at DIW Berlin.
Morning lectures, afternoon hands-on sessions in small groups.
For PhD students, postdocs and professionals—whether you’re getting started or extending your HANK toolkit.
⏰ Apply by November 15, 2026. An early-bird academic discount is available for eligible PhD students and postdocs, with enrollment by December 6. Enrollment runs until mid January 2027.
Details & applications: diw.de/en/diw_01.c.1020133.e…
Please share with interested students and colleagues. See you online and in Berlin!
#HANK #Macroeconomics #JuliaLang
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New CEPR Discussion Paper - DP21913
Local Methods for Large Transfers
@christianbaye13 @UniBonn, Luigi-Maria Briglia, @RalphLuet, Maximilian Weiß, Yannik Winkelmann @uni_tue
ow.ly/4VtY50ZKnJi
#CEPR_MEF #EconTwitter
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Update to this thread from the NBER SI: our paper is now out as CEPR DP21913. And it has grown: the paper now combines a method, a measurement, and a “new” model of household debt. ralphluetticke.com/files/BBL…
Today @nberpubs there is great stuff on the solution of HANK models by @GregWKaplan @JavierBianchi7 and @a_auclert @ludwigstraub Rognlie Rigato in the session of @ChristianKWolf @JesusFerna7026 @luigi_bocola.
This is exactly one of the questions of my ERC project: how far can we push perturbation HANK?
So let me share some thoughts and a simple new method that is as fast as a linear solution, but almost as accurate as the fully nonlinear transition.
Paper: ralphluetticke.com/files/Loc…
Code:
github.com/mweiss-econ/large…
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Bottom line: transfer-size nonlinearity remains substantial, but it is less extreme than a model with a zero debt limit implies. The distribution of household debt around zero matters for the macro effects of large transfers.
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Joint with @christianbaye13, @luigimbriglia, Maximilian Weiß, and Yannik Winkelmann.
CEPR DP21913: cepr.org/publications/dp2191…
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Ralph Lütticke retweeted
I’m very happy that our paper “A Temporary VAT Cut as Unconventional Fiscal Policy,” with @bornecon, @OGoldfayn, @GeorgiKocharkov, @RalphLuet, and Michael Weber, is out in the Review of Economic Studies (@RevEconStudies).
doi.org/10.1093/restud/rdag0…
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Ralph Lütticke retweeted
🚨 I just started a new job as assistant professor at @uni_tue joining a great macro group with Gernot Müller and @RalphLuet.
I am very grateful to everyone who made this possible!
Watch out for many great macro papers coming from the southwest of Germany in the future!
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Ralph Lütticke retweeted
Super excited for Inequality and Macro at the NBER SI next week. We have a great line up of papers and discussants. Please see the talks in person if you are there, or remotely via the YouTube link if you aren't. nber.org/conferences/si-2026…
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Today @nberpubs there is great stuff on the solution of HANK models by @GregWKaplan @JavierBianchi7 and @a_auclert @ludwigstraub Rognlie Rigato in the session of @ChristianKWolf @JesusFerna7026 @luigi_bocola.
This is exactly one of the questions of my ERC project: how far can we push perturbation HANK?
So let me share some thoughts and a simple new method that is as fast as a linear solution, but almost as accurate as the fully nonlinear transition.
Paper: ralphluetticke.com/files/Loc…
Code:
github.com/mweiss-econ/large…
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We call this the Nonlinear DEGM Update, NDU. NDU(1) updates the impact period. NDU(K) applies the same exact DEGM update over a short window. We also add second-round income effects through a scalar goods-market fixed point.
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So watch the session on YouTube today. Lots of exciting work is happening on bringing aggregate risk and large shocks properly into HANK models. And this matters, as recent papers, including my work with @CosminIlut and Martin Schneider, have shown.
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