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Pompei, Italy, 2014
Professor: Kyle Herkenhoff
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This course is designed to bring hard-working students to the frontier of the macro labor literature, both theoretically and computationally. The course is built around a small number of workhorse models that we will solve, compute, and estimate. We will then use these tools to study frontier questions: the effect of AI on the labor market, firm competition and wage setting, how credit markets interact with job loss and unemployment insurance, how teams form (sorting) and learn, the minimum wage and merger policy in concentrated labor markets, and the dynamics of income.
AI tools are now part of the macro-labor research workflow, and they will be part of this course. The first lecture is a primer on what large language models are and how to use coding agents to develop theory, write and check code, and estimate models. You are encouraged to use and master these tools through the homeworks.
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