Julien Pascal

I am really thrilled to see this article finally in press! 👉onlinelibrary.wiley.com/doi/10.1111/jo… The paper is a survey on Heterogeneous Agent (New Keynesian) models [HA(NK)]. It reviews (i) selected key mechanisms in HA(NK)s models and why we should (or not?) care and ... 1/5

🚀 Big News: Dynare 7.0 is out! Introducing powerful new toolkits for HANK, samplers, perfect foresight and massive performance improvements. Packages are available for download NOW: 👉 dynare.org/download/ A quick summary below 👇 (1/5)

📢 AI Summer School/conference 2026 is open for applications! 3 intensive days for PhD students in economics & finance covering: Deep Equilibrium Nets, PINNs & heterogeneous agent models, LLMs, RAG, agentic AI & NLP Link: sites.google.com/carloalberto.o… @YuchengYang1993 @HECLausanneEcon

Here is a blog post discussing and illustrating the paper with Python code/ 📋Blog post: julienpascal.github.io/post/bc_mc_pea/ n/n

[Practical payoff] The bc-MC-PEA lets you trade off: * exploring more states (M) * integrating shocks more accurately (N) Optimal values for (M*, N*) are derived in the paper. Easy to implement. 5/n

🚨I just wrote a short paper on a generalization of the Parameterized Expectations Algorithm (PEA), recently published in Economics Letters 🙏 📄 Paper: doi.org/10.1016/j.econ… 💻 Replication code: github.com/JulienPascal/b… 🧵⬇️ 1/n

"This was not Keynes's intent, nor is it the view of all of his most eminent followers. Yet if one does not view the revolution in this way, it is impossible to account for some of its most important features." 5/5

Why combine results *and* methods in the same paper? To quote Lucas & Sargent (After Keynesian Macroeconomics, 1978): "The Keynesian Revolution was, in the form in which it succeeded in the United States, a revolution in method." 4/5

I am really thrilled to see this article finally in press! 👉onlinelibrary.wiley.com/doi/10.1111/jo… The paper is a survey on Heterogeneous Agent (New Keynesian) models [HA(NK)]. It reviews (i) selected key mechanisms in HA(NK)s models and why we should (or not?) care and ... 1/5

Many more seminars available here 👏: sites.google.com/view/amleds/pa…

Really cool presentation on LLMs, Transformers and Reinforcement Learning, with an audience of economists in mind 👇 VIDEO: us02web.zoom.us/rec/play/gJNmN… SLIDES: dropbox.com/scl/fi/xjsbl6k…

A personal assessment of the evolution of macroeconomic research over the last 40 years (informed by the opinions of many of the main researchers in the field). shorturl.at/V7vkJ Conclusion: Strong convergence, mostly for the better. Not everything is perfect but, then, nothing ever is. I even venture (and I can already see the scathing comments; please refrain if you are in insulting mode) that macroeconomics has become a mature science.

Still a few weeks left to apply 👇

There is a *job opening* for an economist where I work, with a focus on *monetary policy*. Apply here (05/ER2/2025)👉 bcl.lu/en/About/carri… Expect a healthy mix of policy/applied work and research. #EconTwitter #EconomicsJobs

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Important read on inheritance by The Economist: 👇 economist.com/finance-and-ec…