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PRODID:-//AMSE//Event Calendar//FR
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UID:event-9349@www.amse-aixmarseille.fr
DTSTAMP:20260421T165321Z
CREATED:20260421T165321Z
LAST-MODIFIED:20260421T165321Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:Eco-lunch - Francesco Saverio Gaudio
DTSTART:20221215T113000Z
DTEND:20221215T123000Z
DESCRIPTION:We examine the transmission of aggregate supply shocks to the c
 onsumption and income of U.S. households\, documenting substantial redistri
 butive effects between household groups sorted according to their assethold
 ing position. Positive neutral technology shocks redistribute resources in 
 favor of non-assetholders' income and consumption. By contrast\, assetholde
 rs' consumption and income display a relatively stronger upward adjustment 
 in response to positive investment-specific technology shocks and shifts in
  the capital share of income. These facts are consistent with the propagati
 on of supply shocks in models with limited asset market participation\, whe
 re the relative responsiveness of dividend vs. labor income is key to predi
 cting how a given shock redistributes resources between different household
 s. We show how a fundamental disconnect emerges between macroeconomic and a
 sset-pricing drivers\, within this class of models. Shocks to the capital s
 hare of income are key in explaining consumption and income inequality\, as
  well as the equity premium\, while displaying a modest capacity to explain
  macroeconomic fluctuations. On the other hand\, neutral and investment-spe
 cific technology shocks confirm to be major business-cycle drivers\, while 
 playing little or no role for asset pricing\, for they have little traction
  on consumption and income inequality.\\n\\nContact: Nathalie Ferrière : 
 nathalie.ferriere[at]sciencespo-aix.frFederico Trionfetti : federico.trion
 fetti[at]univ-amu.fr\n\nPlus d'informations: https://www.amse-aixmarseille.
 fr/fr/evenements/francesco-saverio-gaudio
LOCATION:Îlot Bernard du Bois - Salle 16\, AMU - AMSE\, 5-9 boulevard Maur
 ice Bourdet\, 13001 Marseille
URL;VALUE=URI:https://www.amse-aixmarseille.fr/fr/evenements/francesco-saverio-gaudio
CONTACT:Nathalie Ferrière :&nbsp\;nathalie.ferriere[at]sciencespo-aix.frFe
 derico Trionfetti :&nbsp\;federico.trionfetti[at]univ-amu.fr
TRANSP:OPAQUE
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