erikoberg.bsky.social
Erik Öberg
@erikoberg.bsky.social
1K followers 480 following 75 posts
Macroeconomist at Uppsala University. Webpage: https://sites.google.com/site/erikobergweb/
sites.google.com
Posts Media Videos Starter Packs
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jun 4
In making this course, I've borrowed a lot of material from other teachers. Thanks to all of you who makes your teaching material publicly available!
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jun 4
I also have quite a few exam questions and problem sets to share to anyone who wants to teach similar material. Just email me if you want them.
1 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jun 4
The course covers business-cycle frameworks (RBC and NK), Frictional Labor Markets (McCall, Burdett-Mortensen, DMP) and consumption-savings dynamics with incomplete asset markets (both partial and general equilibrium).
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jun 4
For several years, I've been teaching Ph.D. Macroeconomics II in the first-year Ph.D. course sequence here in Uppsala. I've uploaded all lecture notes in the attached link, in case this is to the interest of someone else.

github.com/erikoberg/te...
GitHub - erikoberg/teaching_material
Contribute to erikoberg/teaching_material development by creating an account on GitHub.
github.com
1 4
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Mar 20
Fair one-slide summary of literature leading up to 3-equation New-Keynesian model?
2
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Mar 14
Skriver i senaste @ekonomiskdebatt.bsky.social om "Nationalekonomi som ingenjörsvetenskap? Ett förslag till ett nytt utbildningsprogram". Samlar upp en del tankar och diskussioner som förts med kollegor och här på sociala medier.

nationalekonomi.se/artikel/nati...
Nationalekonomi som ingenjörsvetenskap? Ett förslag till ett nytt utbildningsprogram – Nationalekonomiska Föreningen
nationalekonomi.se
1 6
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Mar 11
Does anybody know if there exist an updated version of these graphs from Acemoglu (JEL 2002) somewhere?

I'm preparing lectures on search models and wage dispersion, in which I use these graphs to introduce the concept of residual wage dispersion, but they are a bit outdated.
2
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 31
This is very helpful - thx a lot!
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 30
Yes, numerous measurement issues. I was thinking about how to start exploring this. I learnt today that there were some nice efforts in the 90's to clean "Solow residuals" from labor utilization (exploiting some optimality conditions and firm data on other firm inputs). E.g. Basu-Kimball (1997)
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 30
Econ Question: How much of fluctuations in TFP can be accounted for by fluctuations in worker effort? Like in booms, firms use the hours worked available to them more efficiently. Is there any attempt out there to answer this of related questions?
2 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 27
She has several other interesting papers and projects too, e.g., about in-house hiring vs staffing agencies, misallocation across firms and wealth inequality. See her webpage for more.

sites.google.com/view/agnetab...
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 27
Very happy to share that @agnetaberge.bsky.social will join
Uppsala as a post-doc in the fall! Agneta is macroeconomist coming out of IIES with a focus on labor markets and wage setting. In her JMP, she develops a theory of two-tier collective wage bargaining.

drive.google.com/file/d/1x-tV...
1 11
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Table heading missing. The table shows fiscal multipliers and fiscal cost normalized with the counterpart numbers from a pure government spending shock.
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Two closely related papers are Wolf (2024) and Ferriere-Navarro (2024). Be sure to check them out.

economics.mit.edu/sites/defaul...

axelleferriere.github.io/files/FN_IMF...
economics.mit.edu
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
We also identify some key parameters/moments that do make a difference for these conclusions. One of them is the marginal propensity to consume out of profit income, for which we need more evidence. In our view, these findings paint an agenda for future research.
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Importantly, these conclusions are insensitive to changes to a big part of the model parameter space, as per the reasoning above. For details about this, see the paper.
1 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
This feature gives a double dividend: saving a job is cheap relative to creating to new one. Moreover, saving a job avoids vacancy-depletion effects (as in Coles-Kelishomi (2018)), and reduces the unemployment risk that households face a lot.
1 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Retention subsidies are effective relative to other firm transfers b/c the data supports fairly elastic separations, and relatively inelastic vacancy creation.
1 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
UI duration extensions are effective relative to other household transfers b/c the data supports limited insurance with respect to long-term unemployment. At the margin, we can stimulate household consumption a lot by insuring them against this.
1 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Untargeted transfers to households are, in general, quite ineffective, whereas targeted transfers to the unemployed, like UI duration extensions, and job-saving retention subsidies give a lot of bang for the buck.
2 2 2
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
We find that fiscal multipliers vary greatly across different common policy interventions, from 0.3 to 1.6. You cannot compare stimulus packages by just counting dollars spent, you must look under the hood at the actual design!
1 1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Quantitatively, we use a state-of-the-art calibration of the model, building on our previous work and that of Rohan Kekre.

www.dropbox.com/scl/fi/wf5fw...

sites.google.com/site/rohanke...
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
Intermezzo: Special thanks to @[email protected] and Boppart-Krusell-Mitman for teaching us to think about models in sequence space.
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
We exploit these properties to investigate which parameters (and features of the model) are important for determining the relative effectiveness of a variety of different stimulus designs.
1
erikoberg.bsky.social
Erik Öberg @erikoberg.bsky.social · Jan 16
A direct implication is that for comparing the fiscal multipliers of two different policies that achieve the same output effect, in many cases we don’t need to know all the parameters of the model, but only the parameters relating to the policy-specific direct effect.
1