Jean-Baptiste Michau

July 2021: Policy brief on Secular Stagnation (also available in French)

Research Interests

💰 Macroeconomics

☂️ Public Finance

🔨 Labor Economics

Working Papers

💰 The Preference for Wealth and Inequality: Towards a Piketty Theory of Wealth Inequality (with Yoshiyasu Ono and Matthias Schlegl) ➡ [Video presentation]

💰 The Trilemma for Low Interest Rate Macroeconomics ➡ [Video presentation]

💰 The Preference for Net Wealth

💰 Open Economy Secular Stagnation and Financial Integration

Publications

💰 Fiscal Policy under Secular Stagnation: An Optimal Pump Priming Strategy, Journal of Economic Dynamics and Control, 2025, 175, 105097.

💰 Helicopter Drops of Money under Secular Stagnation: From Ponzi to Pigou, Journal of Political Economy Macroeconomics, 2024, 2(1), 45-106.

💰 Wealth Preference and Rational Bubbles (with Yoshiyasu Ono and Matthias Schlegl), European Economic Review, 2023, 156, 104496.

🔨 On the Provision of Insurance Against Search-Induced Wage Fluctuations [Appendix], Scandinavian Journal of Economics, 2021, 123(1), 382-414.

💰 Monetary and Fiscal Policy in a Liquidity Trap with Inflation Persistence, Journal of Economic Dynamics and Control, 2019, 100, 1-28.

💰 Secular Stagnation: Theory and Remedies, Journal of Economic Theory, 2018, 176, 552-618.

☂️ Optimal Social Security with Imperfect Tagging (with Oliver Denk) [Appendix], Scandinavian Journal of Economics, 2018, 120(3), 717-762.

🔨 Optimal Labor Market Policy with Search Frictions and Risk-Averse Workers, Labour Economics, 2015, 35, 93-107.

☂️ Optimal Redistribution: A Life-Cycle Perspective, Journal of Public Economics, 2014, 111, 1-16.

🔨 Unemployment Insurance and Cultural Transmission: Theory & Application to European Unemployment [Appendix], Journal of the European Economic Association, 2013, 11(6), 1320-1347.

🔨 Creative Destruction with On-the-Job Search, Review of Economic Dynamics, 2013, 16(4), 691-707.

Books

Introduction aux Sciences Économiques (with Olivier Gossner and Vincent Rollet), Economica, 2024