Rustam Jamilov

I am very excited to share a new working paper: "The Geography of Financial Frictions" (with Alexander Haas, Monash University) We study aggregate implications of the geography of firms' financial frictions in Europe, both empirically and theoretically. Paper link: users.ox.ac.uk/~econ0628/Fina…

New CEPR Discussion Paper - DP21743 The Geography of Financial Frictions Alexander Haas @MonashUni, Rustam Jamilov @RustamJamilov @UniofOxford ow.ly/SvXY50ZnMeO #CEPR_IMF #CEPR_MEF #EconTwitter

Today @nberpubs there is great stuff on the solution of HANK models by @GregWKaplan @JavierBianchi7 and @a_auclert @ludwigstraub Rognlie Rigato in the session of @ChristianKWolf @JesusFerna7026 @luigi_bocola. This is exactly one of the questions of my ERC project: how far can we push perturbation HANK? So let me share some thoughts and a simple new method that is as fast as a linear solution, but almost as accurate as the fully nonlinear transition. Paper: ralphluetticke.com/files/LocalMet… Code: github.com/mweiss-econ/la…

Many more empirical and quantitative results in the paper! This paper uses ECB's SAFE data, so the usual disclaimer applies. This research has been facilitated by the 2024 ECB's Lamfalussy Fellowship @ECB_Research @ecb. Special thanks to Dominik Thaler and Nicola Benatti.

The geography of financial frictions translates into the cross-section of Phillips multipliers and output-inflation trade-offs. The sacrifice ratio is greater in high-friction countries, as the same output gain comes at the cost of higher inflation.

I am very excited to share a new working paper: "The Geography of Financial Frictions" (with Alexander Haas, Monash University) We study aggregate implications of the geography of firms' financial frictions in Europe, both empirically and theoretically. Paper link: users.ox.ac.uk/~econ0628/Fina…

New paper with Marc Melitz (major revision, supersedes our "Aggregate-Demand Amplification of Supply Disruptions"): "Supply Shocks in a Heterogeneous-Firm New Keynesian Model: The Entry Multiplier." Let's think about "supply shocks" and monetary policy's response .... 🧵 1/15

Looking forward to the best macro conference of the year. I will present new work on wholesale funding crises on July 3 12:00 Delta 22. Co-authors will present new or updated work on mental health (July 3 12:00 Delta 24), heterogeneous banks (July 4 10:00 Alpha 31), and dividend taxation (July 4 12:00 Alpha 31).

@sc_cath Congratulations! Very well deserved

As it is now official, I am happy to report that, in a dozen days, I will be a tenured professor. Thank you 🙏to my colleagues and to the anonymous letter writers in the profession who believed I could be entrusted with this privilege.

Passport Inequality.

Preordering mine!

Now explain degrowth to Juan Hernandez.

Europe's has a big divide between fixed-rate and variable rate banking systems. It offers a great opportunity to understand how loan pricing affects monetary policy transmission. Here is a short 🧵 based on: galonuno.com/uploads/1/3/4/… 1/n (n=11)

For those interested, here are my slides from yesterday's Cowles Lecture at the Econometric Society Meetings @YaleCowles @econometricsoc benjaminmoll.com/cowles_lecture/ Thanks so much for listening and for the great discussion and comments!