Gualtiero Azzalini successfully defends his thesis
On 14 June Gualtiero successfully defended his thesis "Essays on Income Risk, Portfolio Choices and the Macroeconomy".
Alexander Michaelides at Imperial College London acted as opponent.
About the thesis
This thesis consists of three self-contained essays. All of them combine the usage of micro and macro data and quantitative models to study how agents balance their exposure to income risk when facing idiosyncratic and aggregate shocks.
The first chapter analyzes how endogenous income risk emerges from the optimal risk-sharing allocation between workers and firms. Chapter two shows that endogenous income risk coming from agents’ portfolio choices reveals their true labor income process. The third chapter illustrates that endogenous income risk ensuing from preference heterogeneity across individuals helps explain wealth inequality.
Read more about Gualtiero's thesis
In August 2023, Gualtiero will take up a position as Assistant Professor in Finance at Stockholm School of Economics and Research Fellow at Swedish House of Finance.
Last updated: June 14, 2023
Source: Institute for International Economic Studies (IIES)