The “Female Career Award HEC Lausanne (UNIL)” highlights the outstanding academic career of a female researcher affiliated to an institution outside UNIL. On October 3, Stephanie Schmitt-Grohé, professor at Columbia University, will give a seminar within the frame of the Award Ceremony. She will be rewarded for her brilliant career as a researcher in the field of operations management and her involvement in the education of the next generation of scholars.
Recognized in the academic world as one of the leading female professors in macroeconomics, particularly in the fields of business cycles, macroeconomic policy and international macroeconomics, Stephanie Schmitt-Grohé has made her mark as a researcher and teacher in a predominantly male world.
The results of her research have given rise to new ideas, contributing, for example, to the development of fiscal and monetary stabilization policies in both open and closed economies.
Seminar and award ceremony Program
Open to the public & in English
10h30-12h: Academic Seminar* "Heterogeneous Downward Nominal Wage Rigidity Foundations of Phillips's Phillips Curve"
12h-12h15: Official Ceremony with a speech from the Dean
14h30-16h30: Round Table for HEC PhD students, Postdocs and Msc students
We propose a model with heterogeneous downward nominal wage rigidity for individual labor varieties. The model delivers a nonlinear wage Phillips curve that is relatively steep at low levels of unemployment and flat at high levels of unemployment, implying a low cost of reducing high levels of inflation. The predicted Phillips curve matches well the observed pattern of wage inflation and unemployment in the United States over the past 40 years. Although the equilibrium features occasionally binding constraints for individual labor types, there are no such constraints in the aggregate making the model amenable to perturbation analysis.