Objective "My proposal deals with the estimation of Dynamic Stochastic General Equilibrium models with important heterogeneity at the level of firms and households and frictions in the labor market. In the estimation I will exploit mixed frequency data (monthly, quarterly and annual) available in different countries. I will also efficiently take care of possible missing values in the data. This might require developing new estimation techniques. The contribution of the project will be in dealing with important empirically relevant questions. I will address issues that lie at the boundaries between labour economics, business cycle analysis, monetary economics, finance, and growth. In particular I will answer the following questions:1. How are business cycle costs distributed across different individuals? How costly is involuntary unemployment?2. Which view best characterizes the process of technology adoption at business cycle frequencies? In particular does Schumpeterian creative destruction play a role in characterizing the adoption of new technologies over the business cycle?3. What are the welfare costs of the search inefficiencies present in the process of worker reallocation over the business cycle?4. What are the sources of business cycle fluctuations? And in particular are technology shocks an important driving force?5. What are the contribution of the job separation rate and the importance of the intensive margin relative to the extensive margin in characterizing aggregate labor market fluctuations?6. What are the main differences in the cyclical properties of the labor market across the OECD? And which institutions explain these differences?7. What are the effects of financial sector shocks? And why has the Beveridge curve shifted during the last world wide recession?8. How policy should respond to the large variation in unemployment risk that individual workers face over their life cycle?" Fields of science social scienceseconomics and businesseconomicssocial scienceseconomics and businessbusiness and managementemploymentsocial sciencessociologysocial issuesunemployment Programme(s) FP7-IDEAS-ERC - Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013) Topic(s) ERC-AG-SH1 - ERC Advanced Grant - Individuals, institutions and markets Call for proposal ERC-2011-ADG_20110406 See other projects for this call Funding Scheme ERC-AG - ERC Advanced Grant Host institution Istituto Einaudi per l'Economia e la Finanza EU contribution € 1 033 771,70 Address via sallustiana 62 00187 ROMA Italy See on map Region Centro (IT) Lazio Roma Activity type Research Organisations Principal investigator Claudio Michelacci (Prof.) Administrative Contact Marco Pagano (Mr.) Links Contact the organisation Opens in new window Website Opens in new window Total cost No data Beneficiaries (2) Sort alphabetically Sort by EU Contribution Expand all Collapse all Istituto Einaudi per l'Economia e la Finanza Italy EU contribution € 1 033 771,70 Address via sallustiana 62 00187 ROMA See on map Region Centro (IT) Lazio Roma Activity type Research Organisations Principal investigator Claudio Michelacci (Prof.) Administrative Contact Marco Pagano (Mr.) Links Contact the organisation Opens in new window Website Opens in new window Total cost No data FUNDACION CENTRO DE ESTUDIOS MONETARIOS Y FINANCIEROS Participation ended Spain EU contribution € 625 397,30 Address CASADO DEL ALISAL 5 28014 Madrid See on map Region Comunidad de Madrid Comunidad de Madrid Madrid Activity type Research Organisations Administrative Contact Gema Salazar (Ms.) Links Contact the organisation Opens in new window Website Opens in new window Total cost No data
