[Jun. 2025] Empirically, migration increases housing price dispersion and raises inequality. We explain this with a two-asset heterogeneous-agent general equilibrium model, where real estate acts as the key channel connecting migration and inequality.
[Feb. 2025] In China, low inflation, and high real rates twist policy gears. We find that active fiscal and moderate monetary policies mitigate demand shock effects.
Selected Works
Macroeconomic effects of monetary and fiscal policy in tractable DSGE models: