June 8-10, 2026 in Frankfurt, Germany
Location: Goethe Universität Casino Gebäude, Norbert-Wollheim-Platz, 60323 Frankfurt am Main
Class plan
before Monday
online
Warm-up
Standard incomplete markets model, part I:
– Slides / Notebook
[Note: need to download & run locally]
– Introduction (11 min)
– Discretizing Assets and Income (21 min)
– Backward Iterations and Policy Functions (40 min)
– Forward Iterations and Distributions (21 min)
– Aggregation, Applications, Expectations (41 min)
Recap for part I
[Note: need to download & run locally]
Monday, June 8
8:15 – 8:50
8:50
9:00 – 10:00
10:00 – 10:15
10:15 – 11:15
11:15 – 11:30
11:30 – 12:30
12:30 – 14:00
14:00 – 15:00
15:00 – 15:15
15:15 – 16:15
18:00
Methods and fiscal policy
Registration & light breakfast
Welcome & Overview
Review of Standard incomplete markets model
— Break —
Intro to HANK models: Fiscal policy
— Break —
Intro to the sequence space and Jacobians
— Lunch Break —
Intro to HANK models: Monetary policy
— Break —
SSJ approach and toolkit
Meet at Römer square followed by walk to Beer garden for dinner (19:00, self-paid)
Tuesday, June 9
8:15 – 9:00
9:00 – 10:00
10:00 – 10:15
10:15 – 11:00
11:00 – 11:15
11:15 – 11:45
11:45 – 12:00
12:00 – 12:30
12:30 – 14:00
14:00 – 14:30
14:30 – 14:45
14:45 – 15:15
15:15 – 15:30
15:30 – 16:00
16:15
19:00
Monetary policy, estimation, and portfolios
Light Breakfast
Fiscal and monetary policy topics
— Break —
Tutorial: fiscal and monetary policy in SSJ
— Break —
Stochastic economies and estimation
— Break —
Household portfolios
— Lunch Break —
Determinacy in the sequence space
— Break —
Large-scale models
— Break —
Heterogeneous firms
Informal get-together at the University’s “Sommergarten” (self-paid) Optional afterwards: Frankfurt Citybeach
Workshop Dinner (by invitation only)
Wednesday, June 10
8:15 – 9:00
9:00 – 9:30
9:30 – 9:45
9:45 – 10:15
10:15 – 10:30
10:30 – 11:00
11:00 – 11:15
11:15 – 11:45
11:45 – 12:00
12:00 – 12:30
12:30 – 14:00
14:00 – 14:30
14:30 – 15:00
15:00 – 15:30
15:30
Advanced topics
— Light Breakfast —
A HANK model for the Euro area
— Break —
Smooth methods for standard incomplete markets
— Break —
Second order solutions in sequence space
— Break —
Open economy HANK models
— Break —
Non rational expectations
— Lunch Break —
Price setting
— Break —
Optimal long-run policy
— Adjourn —