Ralph Lütticke

389 posts

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Ralph Lütticke

Ralph Lütticke

@RalphLuet

Professor of Economics at University of Tübingen

Tübingen, Deutschland Katılım Mart 2020
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
Check out the new home of our toolbox for the estimation of HANK models. Now with more examples and estimation options. We hope to feature your work with our toolbox under this account.
BASEforHANK@BASEforHank

We, @christianbaye13 @bornecon @RalphLuet, have just released an update of our paper “Shocks, Frictions, and Inequality in US business cycle” with a substantially improved toolbox to estimate HANK models, now called BASE for HANK. Follow this account for updates about BASE.

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Ralph Lütticke
Ralph Lütticke@RalphLuet·
Main result: Aggregate responses look similar for conventional and unconventional monetary policy, but wealth inequality does not. Expansionary unconventional shocks raise stock prices more than house prices, redistributing to the top 10% of U.S. households.
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
We combine Romer-Romer's identification with Wu-Xia's shadow rate. Using the same identification across conventional and unconventional episodes, we can test differences in MP holding identification constant. Code with automatic shock updates here: github.com/ralphluet/unif…
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
🧑‍🔧Paper update (with David Bügel and Albert Hidalgo): Unconventional but Different After All? A Unified Series of Narrative Monetary Policy Shocks We construct the longest available narrative monetary policy shock series for the U.S. Paper + Codes 👇 ralphluetticke.com/files/BHL_2026…
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
This project started @the_IDB when we discussed whether optimal tax policies ala HSV (@Jonheathcote @KStoresletten @glviolante) apply to Latin America. There have been many papers applying this to the US. Turns out Aiyagari+Informality is very a interesting setup with new results.
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
Does higher inequality call for more progressivity? Not necessarily. Greater income risk strengthens both the inclusion AND evasion margins: welfare gains are front-loaded but dissipate sooner. The welfare profile becomes steeper and more sharply hump-shaped, but the optimum barely shifts. This contrasts with standard models without informality.
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
🏂WP-ALERT⛷️ Inequality, Informality, and Optimal Progressivity with Oscar Becerra, @luigimbriglia, John Leon-Diaz, Oscar Valencia. Should developing countries use negative income taxes to draw workers into the formal sector? We study optimal progressive labor taxation when workers can shift into untaxed informal work. ralphluetticke.com/files/Inequali…
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Ralph Lütticke retweetledi
Kiel Institut
Kiel Institut@kielinstitute·
We’re excited to introduce the 1st cohort of Next-Geo — our new research & training program for the next generation of geoeconomists. Funded by the Stiftung Mercator and implemented in cooperation with @cepr_org, @OxfordEconDept & IEP@Bocconi After kicking off in February, we’re looking forward to a year of exchange, research, and collaboration with this great group of young scholars. @julian_mrcx @KNikalexi @gatonievas @Ch_Trebesch
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Morten O. Ravn
Morten O. Ravn@MortenORavn·
"𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐅𝐫𝐢𝐜𝐭𝐢𝐨𝐧𝐬: 𝐌𝐢𝐜𝐫𝐨 𝐯𝐬. 𝐌𝐚𝐜𝐫𝐨 𝐕𝐨𝐥𝐚𝐭𝐢𝐥𝐢𝐭𝐲," co-authored with Renato Faccini, Seungcheol Lee, Ralph Luetticke and Tobias Renkin, is just out in the February 2026 issue of the 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐑𝐞𝐯𝐢𝐞𝐰. 1/7
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
BASEforHANK Winter School @DIW_Berlin is a great success. Week 1 online done, Week 2 on-site in Berlin in full swing. Hands-on HANK methods in Julia (BASEtoolbox.jl) with @christianbaye13 & @bornecon. A big thank-you to everyone who joined, and DIW for hosting us & taking a pic!
Ralph Lütticke tweet media
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
Big picture: wars compress income inequality largely by crushing profits and not just by destroying wealth, which is held more equally. We bring in new cross-country data on firm profits around wars and consistent with the HANK model: war is bad for business!
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Ralph Lütticke
Ralph Lütticke@RalphLuet·
Can destruction alone explain the aggregate fall in top income shares? We build a Meade-style accounting framework: let the capital–labor ratio fall as in the data and ask what happens to top shares. It explains at most 1/3 of the observed fall in the top 1% income share!
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Keşfet

@the_IDB @Jonheathcote @KStoresletten @glviolante @luigimbriglia @cepr_org @OxfordEconDept @julian_mrcx