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Thomas Drechsel @tdecon.bsky.social · 23/04/2025

What a nice surprise - I received the AEJ-Macro Best Paper Award for my paper “Earnings-Based Borrowing Constraints and Macroeconomic Fluctuations” The full paper can be found here: www.aeaweb.org/articles?id=... Thank you to everyone who helped me write it back in the day 😊

aeaweb.org

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Thomas Drechsel @tdecon.bsky.social · 16/04/2025

Come and see Amy Handlan present her research on 'text shocks and monetary surprises' this Friday I am looking forward to moderating the event

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Thomas Drechsel @tdecon.bsky.social · 31/03/2025

We just completed a first, preliminary draft of a new paper: 𝐓𝐡𝐞 𝐌𝐚𝐜𝐫𝐨𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐄𝐟𝐟𝐞𝐜𝐭𝐬 𝐨𝐟 𝐁𝐚𝐧𝐤 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧: 𝐍𝐞𝐰 𝐄𝐯𝐢𝐝𝐞𝐧𝐜𝐞 𝐟𝐫𝐨𝐦 𝐚 𝐇𝐢𝐠𝐡-𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐜𝐲 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡 Joint with Ko Miura econweb.umd.edu/~drechsel/pa...

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Thomas Drechsel @tdecon.bsky.social · 24/02/2025

Our paper “Identifying Monetary Policy Shocks: A Natural Language Approach” with Boragan Aruoba was just conditionally accepted at AEJ:Macro! Latest version: econweb.umd.edu/~drechsel/pa... Our estimated shocks, Fed sentiments & more are available here: econweb.umd.edu/~drechsel/fi...

econweb.umd.edu

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Thomas Drechsel @tdecon.bsky.social · 20/02/2025

Looking forward to this online seminar! I will present my research on the economic consequences of political pressure on the Federal Reserve: econweb.umd.edu/~drechsel/pa...

econweb.umd.edu

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Thomas Drechsel @tdecon.bsky.social · 23/01/2025

Donald Trump during Davos speech: “I'll demand that interest rates drop immediately— and likewise, they should be dropping all over the world” t.co/TqxNo1lUjZ

t.co

https://www.axios.com/2025/01/23/trump-davos-world-economic-forum

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Thomas Drechsel @tdecon.bsky.social · 04/01/2025

Link to full paper: econweb.umd.edu/~drechsel/pa...

econweb.umd.edu

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Thomas Drechsel @tdecon.bsky.social · 04/01/2025

Key figure from my #ASSA2025 talk below How often did US Presidents meet with Federal Reserve officials? Figure shows large variation, e.g. Clinton: 6x Nixon: 160x In the paper, I combine this new data with a narrative approach to gauge the economic effects of political pressure on the Fed

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Thomas Drechsel @tdecon.bsky.social · 02/01/2025

At the AEA meetings in San Francisco? Check out this nice session on Friday morning: "Identifying Monetary Policy" With presentations by Amy Handlan @michaeldbauer.bsky.social @kronerniklas.bsky.social myself and Philippe Andrade Thank you Philippe for organizing! #ASSA2025

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Reposted by Thomas Drechsel

AEA Journals @aeajournals.bsky.social · 23/12/2024

From the academic consequences of remote learning, to pricing carbon, to the cost of species extinction: here are the 10 most-read Featured Charts of 2024. #econsky www.aeaweb.org/research/cha...

aeaweb.org

2024 in Featured Charts

Economists addressed issues related to remote learning, carbon pricing, species extinction, and more.

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Thomas Drechsel @tdecon.bsky.social · 26/11/2024

We recently posted a new version of our paper "Identifying Monetary Policy Shocks: A Natural Language Approach" - with Boragan Aruoba We use natural language processing techniques to identify monetary policy shocks! Paper available here: econweb.umd.edu/~drechsel/pa...

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Thomas Drechsel @tdecon.bsky.social · 19/11/2024

Happy to see my work mentioned in the Financial Times In the paper, I estimate the effects of political pressure on the Fed through time, using new data Link to the full paper here: econweb.umd.edu/~drechsel/pa...

econweb.umd.edu

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Thomas Drechsel @tdecon.bsky.social · 18/11/2024

New NBER working paper, joint with Sebastian Doerr and Donggyu Lee We show that higher income inequality tightens financing conditions for bank-dependent firms compared to those accessing stock/bond markets The reason is that high income households tend to save in stocks/bonds instead of deposits

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Thomas Drechsel @tdecon.bsky.social · 14/11/2024

Hi everyone, I just recently signed up to Bluesky. I am mostly interested in macroeconomics and monetary economics, but also politics and history. Let’s connect! 🙂

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