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Professor Dr. Mathias Trabandt

Professor Dr. Mathias Trabandt
Aktuelle Position

seit 4/17

Research Fellow der Abteilung Makroökonomik

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 4/21

Professor für Makroökonomie

Goethe-Universität Frankfurt

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Forschungsschwerpunkte
  • Makroökonomik
  • monetäre Ökonomik
  • Epidemien

Mathias Trabandt ist seit April 2017 Research Fellow am IWH. Seine Forschungsschwerpunkte umfassen Makroökonomik, monetäre Ökonomik, Finanzwissenschaft, Arbeitsmarkttheorie, Internationale Makroökonomik, Friktionen im Finanzmarkt, angewandte Ökonometrie und Epidemien.

Bevor Mathias Trabandt der Goethe-Universität Frankfurt beitrat, war er Professor an der Freien Universität Berlin. Zuvor war er Leiter der “Global Modeling Studies Section” der International Finance Division des Federal Reserve Board of Governors in Washington D.C. Frühere Stationen seiner beruflichen Laufbahn waren die Europäische Zentralbank und die Deutsche Bundesbank in Frankfurt sowie die Sveriges Riksbank in Stockholm.

Ihr Kontakt

Professor Dr. Mathias Trabandt
Professor Dr. Mathias Trabandt
- Abteilung Makroökonomik
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Publikationen

Zitationen
8573

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Sticky Prices or Sticky Wages? An Equivalence Result

Florin Bilbiie Mathias Trabandt

in: Review of Economics and Statistics, im Erscheinen

Abstract

<p>We show an equivalence result in the standard representative agent New Keynesian model after demand, wage markup and correlated price markup and TFP shocks: assuming sticky prices and flexible wages yields identical allocations for GDP, consumption, labor, inflation and interest rates to the opposite case- flexible prices and sticky wages. This equivalence result arises if the price and wage Phillips curves' slopes are identical and generalizes to any pair of price and wage Phillips curve slopes such that their sum and product are identical. Nevertheless, the cyclical implications for profits and wages are substantially different. We discuss how the equivalence breaks when these factor-distributional implications matter for aggregate allocations, e.g. in New Keynesian models with heterogeneous agents, endogenous firm entry, and non-constant returns to scale in production. Lastly, we point to an econometric identification problem raised by our equivalence result and discuss possible solutions thereof.</p>

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Expectations, Infections, and Economic Activity

Martin S. Eichenbaum Miguel Godinho de Matos Francisco Lima Sergio Rebelo Mathias Trabandt

in: Journal of Political Economy, Nr. 8, 2024

Abstract

<p>This paper develops a quantitative theory of how people weigh the risks of infections against the benefits of engaging in social interactions that contribute to the spread of infectious diseases. Our framework takes into account the effects of public policies and private behavior on the spread of the disease. We evaluate the model using a novel micro panel dataset on consumption expenditures of young and older people across the first three waves of COVID-19 in Portugal. Our model highlights the critical role of expectations in shaping how human behavior influences the dynamics of epidemics.</p>

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Understanding Post-Covid Inflation Dynamics

Martín Harding Jesper Lindé Mathias Trabandt

in: Journal of Monetary Economics, November 2023

Abstract

<p>We propose a macroeconomic model with a nonlinear Phillips curve that has a flat slope when inflationary pressures are subdued and steepens when inflationary pressures are elevated. The nonlinear Phillips curve in our model arises due to a quasi-kinked demand schedule for goods produced by firms. Our model can jointly account for the modest decline in inflation during the Great Recession and the surge in inflation during the post-COVID period. Because our model implies a stronger transmission of shocks when inflation is high, it generates conditional heteroskedasticity in inflation and inflation risk. Hence, our model can generate more sizeable inflation surges due to cost-push and demand shocks than a standard linearized model. Finally, our model implies that the central bank faces a more severe trade-off between inflation and output stabilization when inflation is elevated.</p>

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