Bence Bardóczy

Bence Bardóczy


Federal Reserve Board


I am an Economist at the Federal Reserve Board of Governors, where I serve in the Macroeconomic and Quantitative Studies section within the Division of Research and Statistics. My research focuses on how micro heterogeneity interacts with the macroeconomy and affects economic policy.

I am part of the development team for 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.


  • Macroeconomics
  • Monetary Policy
  • Labor Economics
  • Computational Methods


  • PhD in Economics, 2021

    Northwestern University

  • MSc in Economics, 2015

    Institute for Advanced Studies, Vienna

  • BSc in Economic Analysis, 2012

    Corvinus University of Budapest


(2021). Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models. Econometrica 89(5), pp. 2375–2408.

PDF Code

(2021). MPCs, MPEs, and Multipliers: A Trilemma for New Keynesian Models. Forthcoming at the Review of Economics and Statistics.


(2020). Spousal Insurance and the Amplification of Business Cycles. Job Market Paper.



Conference Discussions

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