Thanks a lot for the invitation @lisbonmacro.bsky.social! Great conference, great people, great location.

A big thank you to all presenters and discussants for the insightful and productive discussions at this year’s workshop. Looking forward to seeing you all again next year!

Seho Kim shows that lowering the economic cost of unemployment encourages workers to join riskier startups, increasing experimentation & productivity growth. In a firm dynamics model with labor frictions, lower vacancy creation costs further raise aggregate productivity.

‪@lpvisschers.bsky.social‬ documents that year-to-year earnings growth is cyclically skewed: flows & their returns shift over the cycle, especially in the tails. Occupational moves matter most and upward mobility is much higher in expansions.

Jenny Ding maps households consumption into goods skill-intensity, showing that consumption has shifted toward skill intensive goods over time. A multi-industry GE model with K-skill complementarity decomposes rising wage inequality: 82% due to K accumulation.

@valeriop.bsky.social adds mental accounting to a HANK model to match wealth & MPCs. Wealthy households with high MPCs amplify consumption response to transfers but dampen response to rate cuts, implying lower gains from targeting low-liquid-wealth households.

Harun Alp presents a novel model of innovation and firm dynamics with occupational choice: transformative entrepreneurs who hire ≥1 R&D worker differ sharply from those who don’t. The framework helps evaluate how education, startup, & R&D policies affect talent allocation.

@rafaguntin.bsky.social uncovers new facts on how firms reach the top 1% and set up a new macro model accounting for these firm dynamics. These dynamics shape macro outcomes: finance, tech frontier, r changes, taxation.

Tom Schmitz shows that ICT & AI spark a life cycle in downstream industries: early surge in entry & product innovation, later shift to process innovation & shakeout. Diffusion isn’t optimal: welfare improves by taxing process and subsidizing product innovation.

‪@luciacasal.bsky.social‬ documents that firms increasingly pursue lock-in innovations with high private but low social value, rising markups. Taxing such innovations may boost productivity but is hard to implement; taxing markups is feasible and productivity enhancing, but raises markup dispersion.

‪@francescomaura.bsky.social‬ shows that subjective life expectancy and financial literacy shape financial market entry and risk-taking. Eliciting survival expectations boosts wealth accumulation, while #FinancialLiteracy most effectively drives market participation.

Fabrice Tourre kicks off the workshop showing how #mortgage contract design shapes monetary transmission: in Denmark, buy-back options prevent the lock-in effects seen in the US.

Ready to start!!!

📢 Excited to announce the program for the Lisbon Macro Workshop 2025, taking place August 29–30 at Nova School of Business and Economics 📍 Lisbon 
📅 Aug 29–30
 🔗 nw.ax/l2U @martacota.bsky.social @jeanne-c.bsky.social

The deadline is approaching! Send your paper by Sunday this week!

📢 Calling all macroeconomists! 📢 The 4th Lisbon Macro Workshop is happening on August 29-30! 🇵🇹 ✨ Submit your paper by April 13 & join us in Lisbon 🔗 Submit here: hq.ax/l2L Spread the word! Org: @jeanne-c.bsky.social @martacota.bsky.social Nic Kozeniauskas, Laszlo Tetenyi @chiaralac.bsky.social

👋 Welcome to the official account of the Lisbon Macro Workshop at Católica Lisbon School of Business and Economics! Webpage: nicjkoz.com/LisbonMacro/