03.06.2024

3 University of Tübingen Professors to present at the NBER Summer Institute

The University of Tübingen is proud to announce that three of our distinguished professors will present their cutting-edge research at the prestigious NBER Summer Institute in Boston, USA.

Professors Gernot Müller and Willi Mutschler will discuss their collaborative work titled "The Price of War," which examines the extensive economic ramifications of warfare within a globally integrated economy. Utilizing a new dataset that spans 150 years and includes data from over 60 countries, their study reveals that wars lead to significant economic declines and inflation spikes, not only in the countries where the conflicts occur but also in geographically proximate nations. This research highlights how output in neighboring countries can fall by more than 10 percent over five years, with inflation rising by an average of five percentage points. 

Professor Ralph Luetticke will present his work on "HANK's Response to Aggregate Uncertainty in an Estimated Business Cycle Model." This paper investigates the effects of aggregate and idiosyncratic uncertainties within a heterogenous agent New Keynesian (HANK) model, showing how these uncertainties influence the US macroeconomic cycle and asset prices significantly. Luetticke's research underscores the profound impact of aggregate uncertainty as a driver of economic fluctuations, especially when compared to models using representative agents.

We invite the university community and the public to join us in supporting our professors by tuning in to the live presentations on YouTube. To follow the event live, please visit www.nber.org/conferences/summer-institute-2024.