Employee Profile

Karl Harmenberg

Postdoctoral Fellow - Department of Economics

Biography

Karl Harmenberg is a macroeconomist. See karlharmenberg.com for more info!

Publications

Harmenberg, Karl & Öberg, Erik (2021)

Consumption dynamics under time-varying unemployment risk

Journal of Monetary Economics Doi: 10.1016/j.jmoneco.2020.10.004

Harbo Hansen, Niels-Jakob; Harmenberg, Karl, Öberg, Erik & Sievertsen, Hans (2021)

Gender Disparities in Top Earnings: Measurement and Facts for Denmark 1980-2013

Journal of Economic Inequality Doi: 10.1007/s10888-020-09476-1

Harmenberg, Karl (2021)

Aggregating Heterogeneous-Agent Models with Permanent Income Shocks

Journal of Economic Dynamics and Control, 129 Doi: 10.1016/j.jedc.2021.104185

I introduce a method for simulating aggregate dynamics of heterogeneous-agent models where log permanent income follows a random walk. The idea is to simulate the model using a counterfactual permanent-income-neutral measure which incorporates the effect that permanent income shocks have on macroeconomic aggregates. With the permanent-income-neutral measure, one does not need to keep track of the permanent-income distribution. The permanent-income-neutral measure is both useful for the analytical characterization of aggregate consumption-savings behavior and for simulating numerical models. Furthermore, it is trivial to implement with a few lines of code.

Academic Degrees
Year Academic Department Degree
2018 Institute for International Economic Studies, Stockholm University PhD