杨雨成：深度学习与宏观经济学：搜寻匹配模型-清华大学中国经济社会数据研究中心

杨雨成：深度学习与宏观经济学：搜寻匹配模型

发布时间：2024-12-13 点击数：

讲座信息

【Speaker】JuanPablo Atal, University of Pennsylvania, AssistantProfessor

【Topic】QualityRegulation and Competition: Evidence from Pharmaceutical Markets

【Time】Wednesday, Oct, 27 20:00-21:30

【Location】Zoom ID: 977 1663 4507

Password: 320565

【Language】English

【Host】Department of Economics, School ofEconomics and Management, Tsinghua University

【主讲】Juan Pablo Atal, 宾夕法尼亚大学, 助理教授

【主题】质量监管与竞争：来自医药市场的证据

【时间】2021年10月27日 20:00-21:30

【地点】Zoom 会议号：977 1663 4507

密码：320565

【语言】英语

【主办】清华大学经管学院经济系

【Speaker】Yucheng Yang, University of Zurich, Assistant Professor

【Topic】Deep Learning for Search and Matching Models

【Time】Thursday, Nov.14 14:00-15:30

【Location】Lihua Building B631

【Language】English

【Host】Department of Economics, Tsinghua China Data Center, School of Economics and Management, Tsinghua University

【主讲】杨雨成，苏黎世大学，助理教授

【主题】深度学习与宏观经济学：搜寻匹配模型

【时间】2024年11月14日 14:00-15:30

【地点】李华楼B631

【语言】英语

【主办】清华大学经管学院经济系、清华大学中国经济社会数据研究中心

讲座摘要

We develop a new method for characterizing global solutions to search and matching models with aggregate shocks and heterogeneous agents. We formulate general equilibrium as a high dimensional partial differential equation (PDE) with the distribution as a state variable. Solving this problem has previously been intractable because the distribution impacts agent decisions through the matching mechanism rather than through aggregate prices. We overcome these challenges by developing a new deep learning algorithm with efficient sampling in a high dimensional state space. This allows us to study search markets that are not "block recursive" and compute variables (e.g. wages and prices) that were previously unattainable. In applications to labor search models, we show that distribution feedback plays a more important role when aggregate shocks have an asymmetric impact across agents. Business cycles have a "cleansing" effect by amplifying positive assortative matching in recessions, and the magnitude of the countercyclicality depends on the bargaining process between workers and firms. In applications to OTC markets, we show how default risk impacts bond prices across different maturities.

嘉宾介绍

Yucheng Yang is Assistant Professor of Finance at the University of Zurich. His main research and teaching interests are macroeconomics, finance, and machine learning. His research has garnered accolades including the CICF Yihong Xia Best Paper Award and the CES Gregory Chow Best Paper Award. Yucheng earned his PhD from Princeton University in 2023 and holds prior degrees from Peking University and the University of Wisconsin-Madison.