Bence Bardóczy

Economist

Federal Reserve Board

Welcome!

I am a macroeconomist in the Macroeconomic and Quantitative Studies section of the Federal Reserve Board of Governors. My research focuses on how micro heterogeneity interacts with the macroeconomy and affects economic policy.

I am a developer of Sequence-Space Jacobian. A Python toolkit for analyzing dynamic macroeconomic models with (or without) rich microeconomic heterogeneity.

This is a personal website. The views expressed on this website are my own and do not necessarily reflect those of the Board of Governors or the Federal Reserve System.

Interests

Macroeconomics
Monetary Policy
Labor Economics
Computational Methods

Education

PhD in Economics, 2021
Northwestern University
MSc in Economics, 2015
Institute for Advanced Studies, Vienna
BSc in Economic Analysis, 2012
Corvinus University of Budapest

Research

Bence Bardóczy, João Guerreiro (2023). Unemployment Insurance in Macroeconomic Stabilization with Imperfect Expectations. First draft.

PDF

Bence Bardóczy (2022). Spousal Insurance and the Amplification of Business Cycles. New draft.

PDF

Adrien Auclert, Bence Bardóczy, Matthew Rognlie (2021). MPCs, MPEs, and Multipliers: A Trilemma for New Keynesian Models. The Review of Economics and Statistics 105(3), pp. 700-712.

PDF

Adrien Auclert, Bence Bardóczy, Matthew Rognlie, Ludwig Straub (2021). Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models. Econometrica 89(5), pp. 2375–2408.

PDF Code

Discussions

Conference Discussions

Jiequn Han, Yucheng Yang, Weinan E: DeepHAM: A Global Solution Method for Heterogeneous Agent Models with Aggregate Shocks
Paper, Discussion at the 5th Conference on Nontraditional Data, Machine Learning, and Natural Language Processing in Macroeconomics, November 2023

Beatriz González, Galo Nuño, Dominik Thaler, Silvia Albrizio: Firm Heterogeneity, Capital Misallocation, and Optimal Monetary Policy
Paper, Discussion at the International Research Forum on Monetary Policy, May 2022

Munseob Lee, Claudia Macaluso, Felipe Schwartzman: Minority Unemployment, Inflation, and Monetary Policy
Paper, Discussion at the Federal Reserve System Macro Meeting, November 2021