Project description
Study explores how economic changes affect different social groups
Economic changes, such as shifts in inflation or employment, often affect different groups in society in unequal ways. However, traditional economic models tend to overlook these differences. With the support of the Marie Skłodowska-Curie Actions programme, the MacHete project addresses this gap by investigating how these macroeconomic changes affect various social groups and the broader economy. The project will combine detailed individual-level data with macroeconomic trends, offering a better understanding of economic dynamics. Using advanced statistical and machine learning methods, it will examine how people’s expectations about inflation and income evolve in response to economic shocks. Project findings could help policymakers design more effective interventions that account for the diverse needs and vulnerabilities in society.
Objective
MacHete investigates how macroeconomic changes -such as shifts in inflation or employment- affect different groups within society, and how these diverse impacts shape the broader economy. The project aims to provide fresh insights into how the economy functions and how it can better meet the needs of all social segments. Traditional macroeconomic models often overlook key differences in income, wealth, and behavior, but MacHete integrates these variations by combining micro-level data with macroeconomic aggregates, offering a unique perspective on the dynamics of the broader economy.
The fellowship will take place at the Center for Operations Research and Econometrics (CORE) at UCLouvain, in collaboration with Professor Francesca Monti. MacHete blends macroeconomic theory with advanced statistical methods and machine learning, employing techniques such as Functional Structural Vector Autoregressions (FSVARs) to model the interactions between macroeconomic shocks and distributional changes. This approach provides deeper insights into how policies and economic fluctuations impact different social groups.
Results from MacHete will be disseminated at international conferences. A key project outcome will be a series of papers examining how agents' expectations—particularly regarding inflation and income—evolve in response to aggregate shocks. By studying the distribution of these expectations, the project will uncover how varying beliefs shape individual decision-making and broader macroeconomic outcomes. These findings will equip policymakers with the tools to design interventions that are both effective and equitable, ensuring that policies address diverse expectations and vulnerabilities.
Through its innovative methods and focus on heterogeneity, MacHete will produce impactful research that contributes meaningfully to both academic scholarship and policymaking, helping policymakers make informed decisions that promote fairness and efficiency in economic outcomes.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- social sciences economics and business economics econometrics
- social sciences economics and business business and management employment
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.1.2 - Marie Skłodowska-Curie Actions (MSCA)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-TMA-MSCA-PF-EF - HORIZON TMA MSCA Postdoctoral Fellowships - European Fellowships
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-MSCA-2024-PF-01
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
1348 LOUVAIN LA NEUVE
Belgium
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.