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Benjamin Moll
Benjamin Moll (born June 29, 1983) is a German macroeconomist who is Professor of Economics at the London School of Economics. He is the recipient of the 2017 Bernacer Prize for his "path-breaking contributions to incorporate consumer and firm heterogeneity into macroeconomic models and use such models to study rich interactions between inequality and the macroeconomy". Education and career Benjamin Moll earned a BSc in economics from University College London in 2005, followed by a PhD in economics from the University of Chicago in 2010, under the supervision of Robert Townsend, Fernando Alvarez, Francisco Buera and Robert Lucas. After his PhD, he joined Princeton University where he was an Assistant Professor from 2011 to 2017, Associate Professor from 2017 to 2018, and Professor from 2018 to 2019. In 2019, he moved to the London School of Economics. Research Cross-country income differences In his earlier work, Moll showed that an important driving factor in determin ...
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London School Of Economics
, mottoeng = To understand the causes of things , established = , type = Public research university , endowment = £240.8 million (2021) , budget = £391.1 million (2020–21) , chair = Susan Liautaud , chancellor = The Princess Royal(as Chancellor of the University of London) , director = The Baroness Shafik , head_label = Visitor , head = Penny Mordaunt(as Lord President of the Council '' ex officio'') , students = () , undergrad = () , postgrad = () , city = London , country = United Kingdom , coor = , campus = Urban , free_label = Newspaper , free = '' The Beaver'' , free_label2 = Printing house , free2 = LSE Press , co ...
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Yves Achdou
Yves may refer to: * Yves, Charente-Maritime, a commune of the Charente-Maritime department in France * Yves (given name), including a list of people with the name * ''Yves'' (single album), a single album by Loona * ''Yves'' (film), a 2019 French film See also * Yves Tumor, U.S. musician * * Eve (other) * Evette (other) * Yvette (other) * Yvon (other) * Yvonne (other) Yvonne is a female given name. Yvonne may also refer to: * Yvonne (band), a 1993—2002 Swedish group featuring Henric de la Cour * Yvonne (cow) a German cow that escaped and was missing for several weeks in 2011 * ''Yvonne'' (musical), a 1926 We ...
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Leverhulme Prize
The Philip Leverhulme Prize is awarded by the Leverhulme Trust to recognise the achievement of outstanding researchers whose work has already attracted international recognition and whose future career is exceptionally promising. The prize scheme makes up to thirty awards of £100,000 a year, across a range of academic disciplines. History and criteria The award is named after Philip Leverhulme who died in 2000. He was the grandson of William Leverhulme, and was the third Viscount Leverhulme. The prizes are payable, in instalments, over a period of two to three years. Prizes can be used for any purpose which can advance the prize-holder’s research, with the exception of enhancing the prize-holder’s salary. Nominees must hold either a permanent post or a long-term fellowship in a UK institution of higher education or research that would extend beyond the duration of the Philip Leverhulme Prize. Those otherwise without salary are not eligible to be nominated. Nominees shou ...
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Harvard University
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher learning in the United States and one of the most prestigious and highly ranked universities in the world. The university is composed of ten academic faculties plus Harvard Radcliffe Institute. The Faculty of Arts and Sciences offers study in a wide range of undergraduate and graduate academic disciplines, and other faculties offer only graduate degrees, including professional degrees. Harvard has three main campuses: the Cambridge campus centered on Harvard Yard; an adjoining campus immediately across Charles River in the Allston neighborhood of Boston; and the medical campus in Boston's Longwood Medical Area. Harvard's endowment is valued at $50.9 billion, making it the wealthiest academic institution in the world. Endowment inco ...
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Massachusetts Institute Of Technology
The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the most prestigious and highly ranked academic institutions in the world. Founded in response to the increasing industrialization of the United States, MIT adopted a European polytechnic university model and stressed laboratory instruction in applied science and engineering. MIT is one of three private land grant universities in the United States, the others being Cornell University and Tuskegee University. The institute has an urban campus that extends more than a mile (1.6 km) alongside the Charles River, and encompasses a number of major off-campus facilities such as the MIT Lincoln Laboratory, the Bates Center, and the Haystack Observatory, as well as affiliated laboratories such as the Broad and Whitehead Institutes. , 98 ...
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Stanford University
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is considered among the most prestigious universities in the world. Stanford was founded in 1885 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Leland Stanford was a U.S. senator and former governor of California who made his fortune as a railroad tycoon. The school admitted its first students on October 1, 1891, as a coeducational and non-denominational institution. Stanford University struggled financially after the death of Leland Stanford in 1893 and again after much of the campus was damaged by the 1906 San Francisco earthquake. Following World War II, provost of Stanford Frederick Terman inspired and supported faculty and graduates' entrepreneu ...
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New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin. In 1832, the non-denominational all-male institution began its first classes near City Hall based on a curriculum focused on a secular education. The university moved in 1833 and has maintained its main campus in Greenwich Village surrounding Washington Square Park. Since then, the university has added an engineering school in Brooklyn's MetroTech Center and graduate schools throughout Manhattan. NYU has become the largest private university in the United States by enrollment, with a total of 51,848 enrolled students, including 26,733 undergraduate students and 25,115 graduate students, in 2019. NYU also receives the most applications of any private institution in the United States and admission is considered highly selective. NYU is organized int ...
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Finite Difference Method
In numerical analysis, finite-difference methods (FDM) are a class of numerical techniques for solving differential equations by approximating derivatives with finite differences. Both the spatial domain and time interval (if applicable) are discretized, or broken into a finite number of steps, and the value of the solution at these discrete points is approximated by solving algebraic equations containing finite differences and values from nearby points. Finite difference methods convert ordinary differential equations (ODE) or partial differential equations (PDE), which may be nonlinear, into a system of linear equations that can be solved by matrix algebra techniques. Modern computers can perform these linear algebra computations efficiently which, along with their relative ease of implementation, has led to the widespread use of FDM in modern numerical analysis. Today, FDM are one of the most common approaches to the numerical solution of PDE, along with finite element metho ...
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Fokker–Planck Equation
In statistical mechanics, the Fokker–Planck equation is a partial differential equation that describes the time evolution of the probability density function of the velocity of a particle under the influence of drag forces and random forces, as in Brownian motion. The equation can be generalized to other observables as well. It is named after Adriaan Fokker and Max Planck, who described it in 1914 and 1917. It is also known as the Kolmogorov forward equation, after Andrey Kolmogorov, who independently discovered it in 1931. When applied to particle position distributions, it is better known as the Smoluchowski equation (after Marian Smoluchowski), and in this context it is equivalent to the convection–diffusion equation. The case with zero diffusion is the continuity equation. The Fokker–Planck equation is obtained from the master equation through Kramers–Moyal expansion. The first consistent microscopic derivation of the Fokker–Planck equation in the single schem ...
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Hamilton–Jacobi–Bellman Equation
In optimal control theory, the Hamilton-Jacobi-Bellman (HJB) equation gives a necessary and sufficient condition for optimality of a control with respect to a loss function. It is, in general, a nonlinear partial differential equation in the value function, which means its solution the value function itself. Once this solution is known, it can be used to obtain the optimal control by taking the maximizer (or minimizer) of the Hamiltonian involved in the HJB equation. The equation is a result of the theory of dynamic programming which was pioneered in the 1950s by Richard Bellman and coworkers. The connection to the Hamilton–Jacobi equation from classical physics was first drawn by Rudolf Kálmán. In discrete-time problems, the corresponding difference equation is usually referred to as the Bellman equation. While classical variational problems, such as the brachistochrone problem, can be solved using the Hamilton–Jacobi–Bellman equation, the method can be applied to a ...
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Aiyagari Model
Sudhakar Rao Aiyagari (November 9, 1951 – May 20, 1997) was an Indian-born economics professor at the University of Rochester. He had previous been a leading research economist at the Minneapolis Fed, prior to which he had taught, in the 1980s, at New York University, University of Wisconsin, Madison, and Carnegie-Mellon University in Pittsburgh. Aiyagari made significant contributions to the economics literature, primarily in the areas of macroeconomics, monetary theory and intertemporal general equilibrium theory. He died of a heart attack while playing tennis aged 45. Aiyagari held a doctorate in economics (received 1981) from the University of Minnesota and master's degrees in economics and physics from Jawaharlal Nehru University in New Delhi and the Indian Institute of Technology, Delhi The Indian Institute of Technology, Delhi is a public institute of technology located in New Delhi, India. It is one of the 23 IITs created to be Centres of Excellence for traini ...
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Mean-field Game Theory
Mean-field game theory is the study of strategic decision making by small interacting agents in very large populations. It lies at the intersection of game theory with stochastic analysis and control theory. The use of the term "mean field" is inspired by mean-field theory in physics, which considers the behavior of systems of large numbers of particles where individual particles have negligible impacts upon the system. In other words, each agent acts according to his minimization or maximization problem taking into account other agents’ decisions and because their population is large we can assume the number of agents goes to infinity and a representative agent exists. In traditional game theory, the subject of study is usually a game with two players and discrete time space, and extends the results to more complex situations by induction. However, for games in continuous time with continuous states (differential games or stochastic differential games) this strategy cannot be us ...
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