Guido Menzio
University of Pennsylvania and NBER
Contact Information
and Vitae
Contact Information:
Email:
“gmenzio” at “econ.upenn.edu”
Phone:
773-865-6337
Fax:
215-573-2057
Mail:
467 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297
Personal Information:
Date of birth: November 22, 1975.
Marital status: Married to Tal Correm.
Citizenship: Italian, US Permanent
Resident.
Current Positions:
Professor: Dept. of Economics, University of
Pennsylvania, PA, 2016-.
Research Associate: National Bureau of Economic
Research, MA, 2013-.
International Fellow: Dale T. Mortensen Center, Aarhus
University, DK, 2017-.
Previous Positions:
Consultant: Federal Reserve Bank of Minneapolis, MN,
2016-2017.
Associate Professor: Dept of
Economics, University of Pennsylvania, PA, 2011-2015.
Visiting Associate Professor: Dept
of Economics, Princeton University, NJ, 2012-2013.
National Fellow: Hoover Institution, Stanford
University, CA, 2007-2008.
Assistant Professor: Dept of Economics, University of
Pennsylvania, PA, 2005-2010.
Short-Term Visiting Positions:
Grainger Visitor: University of Wisconsin Madison, WI,
May 2017.
Visiting Scholar: University of Western Ontario, ON,
April 2017.
IGM Fellow: University of Chicago, IL, May 2015.
Visiting Scholar: EIEF Rome, June 2012, June 2013,
June 2014, June 2015, June 2016.
Visiting Scholar: UC Los Angeles, CA, May 2013.
Visiting Scholar: FRB Saint Louis, MO, October 2012.
Visiting Scholar: FRB Philadelphia, PA, May 2009, May
2011, October 2012, December 2013.
Visiting Scholar: Cowles Foundation, Yale University,
CT, October 2010.
Visiting Scholar: University of Western Ontario, ON,
April 2010.
PER Visitor: Columbia University, NY, November 2009.
Visiting Scholar: FRB Minneapolis, MN, December 2008.
Editorial Positions:
Editorial Board: International Economic
Review, 2011-.
Editor: Review of Economic Dynamics,
Special Issue in honor of Dale Mortensen, 2015.
Education:
Ph.D.: Economics, Northwestern
University, Evanston, IL, 2005
Dissertation: The Wage Policy of the Firm:
Micro-foundations and Macro Implications
Committee Chairperson: Professor Dale T. Mortensen
M.A.: Economics, Northwestern University,
Evanston, IL, 2002.
B.A.: Economics, University of Torino,
Italy, 1994-1999, Summa cum Laude.
Honors, Scholarships and Grants:
Carlo Alberto Medal for Best Italian Economist Under
40, 2015.
National Bureau of Economic Research: Research
Associate, 2013-.
National Bureau of Economic Research: Faculty Research
Fellow, 2009-2013.
Duke University: Young Macroeconomists Jamboree, 2008.
Hoover Institution: W. Glenn Campbell and Rita
Ricardo-Campbell Fellowship, 2007-08.
University of Pennsylvania: Kravis Award for
Undergraduate Teaching, 2007.
Northwestern University: Graduate School Dissertation
Year Fellowship, 2004-05.
Northwestern University: Graduate Fellow, 2003-04.
Northwestern University: Teaching Assistant Award,
2003.
Northwestern University: Distinction on Preliminary
Examinations, 2001.
Medio Credito Centrale:
Scholarship Marco Fanno, 2000-02.
Alleanza Assicurazioni: Best Thesis
Award, 2000.
Publications:
“Intra Firm Bargaining and Shapley Values,” with
Bjoern Brugemann (Free University of Amsterdam) and
Pieter Gautier (Free University of Amsterdam), Review of Economic Studies, Forthcoming.
“The (Q,S,s) Pricing Rule,”
with Ken Burdett (University of Pennsylvania), Review of Economic Studies, 2018, 85 (2), 892-928..
“Equilibrium Price Dispersion Across and Within
Stores,” with Nicholas Trachter (Federal Reserve Bank of Richmond), Review of Economic Dynamics, 2018, 28 (2),
205-220.
“Evidence on the Relationship between Recruiting and
Starting Wage,” with Jason Faberman (Federal Reserve Bank of Chicago), Labour Economics, 2018, 50 (1), 67-79.
“The (Q,S,s) Pricing Rule: A
Quantitative Analysis,” with Ken Burdett (University of Pennsylvania), Research in Economics, 2017, 71 (4),
784-797.
“Shopping Externalities and Self-Fulfilling
Unemployment Fluctuations,” with Greg Kaplan (Princeton University), Journal of Political Economy, 2016, 124
(3), 771-825.
“Directed Search over the Life Cycle,” with Irina
Telyukova (University of California at San Diego) and Ludo Visschers
(University of Edinburgh), Review of
Economic Dynamics, 2016, 19 (1), 38-62.
“Equilibrium Price Dispersion with Sequential Search,”
with Nicholas Trachter (Federal Reserve Bank of Richmond), Journal of Economic Theory, 160 (6), 188-215.
“The Morphology of Price Dispersion,” with Greg Kaplan
(Princeton University), International
Economic Review, 2015, 56 (4), 1165-1206.
“Taxation and Redistribution of Residual Income
Inequality,” with Mikhail Golosov (Princeton University) and Pricila Maziero (University of
Pennsylvania), Journal of Political
Economy, 2013, 121 (6), 1160-1204.
“Monetary Theory with Non-Degenerate Distributions,”
with Shouyong Shi (University of Toronto) and Hongfei
Sun (Queen’s University), Journal of
Economic Theory, 2013, 148 (6), 2266-2312.
“Sticky Prices: A New Monetarist Approach,” with Allen
Head (Queen’s University), Lucy Qian Liu (IMF) and Randall Wright (University
of Wisconsin-Madison), Journal of the European
Economic Association, 2012, 10 (5), 939-973. Lead article.
“Efficient Search on the Job and the Business Cycle,”
with Shouyong Shi (University of Toronto), Journal
of Political Economy, 2011, 119 (3), 468-510.
“Job Search with Bidder Memories,” with Carlos Carillo-Tudela (University of Essex) and Eric Smith
(University of Essex), International
Economic Review, 2011, 52 (3), 639-655.
“Inflation and Unemployment in the Long Run,” with Aleksander Berentsen (University
of Basel) and Randall Wright (University of Wisconsin-Madison), American Economic Review, 2011, 101 (1),
371-398.
“Worker Replacement,” with Espen Moen (Norwegian School of Management), Journal
of Monetary Economics, 2010, 57 (6), 623-636. Lead article.
“Directed Search on the Job, Heterogeneity and
Aggregate Fluctuations,” with Shouyong Shi (University of Toronto), American Economic Review, 2010, 100 (2), 327-332.
“Block Recursive Equilibria for Stochastic Models of
Search on the Job,” with Shouyong Shi (University of Toronto), Journal of Economic Theory, 2010, 145
(4), 1453-1494.
“A Theory of Partially Directed Search,” Journal of Political Economy, 2007, 115
(5), 748-769.
Working Papers:
“Agency Business Cycles,” with Mikhail Golosov
(Princeton University), NBER Working Paper 21743, Reject and Revise at Econometrica,
January 2018.
“Relative Price Dispersion: Evidence and Theory,” with
Greg Kaplan (University of Chicago), Leena Rudanko (Federal Reserve Bank of
Philadelphia), Nicholas Trachter (Federal Reserve Bank of Richmond), NBER
Working Paper 21931, Revise and Resubmit at American
Economic Journal: Microeconomics, September 2017.
“Declining Search Frictions, Unemployment and Growth,”
with Paolo Martellini (University of Pennsylvania), NBER Working Paper, April
2018.
“Intermediation as Rent Extraction,” with Maryam
Farboodi (Princeton University) and Gregor Jarosch (Princeton University), NBER
Working Paper 24171, December 2017.
“Rolodex Game in Networks,” with Bjoern Brugemann (Free University of Amsterdam) and Pieter Gautier
(Free University of Amsterdam), Manuscript, August 2017.
“A Search Theory of Rigid Prices,” PIER Working Paper
07-031, September 2007.
“High-Frequency Wage Rigidity,” Job Market Paper,
March 2005.
Work in Progress:
“Workers Transitions and the Diffusion of Knowledge,”
with Kyle Herkenhoff (University of Minneapolis) and Jeremy Lise (University of
Minneapolis).
“Exploitation of Labor,” with Claudio Michelacci
(EIEF).
“The Strategic Origin of Search Frictions,” with
Pieter Gautier (Free University of Amsterdam).
Keynote Lectures:
2015 Carlo Alberto Lecture, University of Turin.
2014: Search and Matching European Conference,
Conference in Honor of Christopher Pissarides at Sciences Po.
2013: Shanghai Macroeconomic Workshop, Nordic Summer
Symposium in Macroeconomics.
Invited Seminars:
2017: Tel Aviv University, MIT, Pennsylvania State
University, Brown University (scheduled).
2016: Ohio State University, Columbia University, New
York University (theory), Carnegie Mellon University, FRB Minneapolis,
University of Western Ontario, Bank of Canada, UC San Diego, UW Madison.
2015: University of Michigan, University College of
London, UC Berkeley, Simon Fraser University, University of British Columbia,
CREI, London School of Economics, Universita’
Bocconi, Einaudi Institute of Economics and Finance.
2014: Federal Reserve Board, FRB Richmond, UW Madison,
New York University, FRB New York, University of Chicago Booth.
2013: University of Toronto, University of Waterloo,
UC Los Angeles, University of Cologne, Free University of Amsterdam, University
of Chicago Booth, Stanford University, University of Turin, Einaudi
Institute of Economics and Finance.
2012: Georgetown University, FRB Saint Louis, UC Davis,
Essex University, Vanderbilt University, Northwestern University, Pennsylvania
State University, Princeton University Macro Lunch, UC Los Angeles, Einaudi Institute of Economics and Finance.
2011: Sciences Po, Washington University in Saint
Louis, FRB Kansas City, UW Madison, University of British Columbia, Einaudi Institute of Economics and Finance.
2010: Yale University, Duke University, FRB Richmond,
Boston University, University of Rochester, Universitat
Autonoma de Barcelona, European University Institute,
University of Southampton.
2009: Aarhus University, Free University of Amsterdam,
Columbia University, FRB Atlanta, New York University, University of Western
Ontario.
2008: Duke University, UW Madison, FRB Minneapolis,
FRB Chicago, Pennsylvania State University, FRB Philadelphia, Georgetown
University.
2007: University of Michigan, Stanford University,
Hoover Institution.
2006: University of Maryland, FRB Cleveland,
University of Pennsylvania, University of Toronto.
2005: University of Turin, University of Oslo,
Stanford University, University of Pennsylvania, UC Los Angeles, FRB Saint
Louis.
2004: Princeton University, Carnegie-Mellon, UT
Austin, University of Pennsylvania, University of Chicago, IIES, London School
of Economics, University of Minnesota, UC San Diego, University of Chicago GSB,
Northwestern University.
Conference Presentations:
2017: Markets with Frictions at Aarhus University,
Search and Matching Workshop at the University of Chile, Macro Conference at
the University of Toronto, Northwestern Macro Alumni Conference.
2016: NYU Search and Matching Workshop.
2015: NBER Winter Meeting (EFG), Northwestern Macro
Alumni Conference, Frontiers of Macroeconomics at Queen’s University,
Conference on Liquidity, Market Frictions and the Economy at the Banque de France, SED Toulouse, NBER Summer Institute
(EFMPL).
2014: Search and Matching Workshop at the Philadelphia
FRB, Wharton Conference on Liquidity and Financial Crises, Macro Dynamics
Conference at EIEF, Cornell-PSU Macro Conference, ENSAI Economic Day “On Labor
Market Instability,” NBER Summer Institute (EFGHJ), NBER Summer Institute
(IO).
2013: Search and Matching Workshop at the Philadelphia
FRB, Conference on Goods Markets, the Macroeconomy
and Policy at Sciences Po, SED Toronto, NBER Summer Institute (RSW).
2012: ASSA San Diego, NBER Winter Meeting (EFG),
Northwestern Alumni Macro Conference at the Chicago FRB, Penn/Philly FED Macro
Conference, NBER Summer Institute (EFGHJ).
2011: Conference on Unemployment and the Life Cycle at
CEPREMAP, NBER Winter Meeting (EFG), Conference on Policy and Frictions at
Tinbergen Institute, ASSA Chicago, Search and Matching Workshop at the
Philadelphia FRB, NBER Summer Institute (EFG), NBER Summer Institute (RSW).
2010: Saint Louis FRB Economic Policy Conference,
Conference in honor of Dale Mortensen at Northwestern University, NBER Summer
Institute (RSW).
2009: Texas Monetary Conference at UT Austin, ASSA
Atlanta, NBER Summer Institute (EFGHJ), NBER Summer Institute (RSW), Minnesota
Macro Conference.
2008: Research on Money and Markets Workshop at the
University of Toronto, NBER Small Group Meeting (RSW), Search and Matching
Conference at the University of Pennsylvania, SED Istanbul, Tsinghua University
Conference on Macroeconomics.
2007: ASSA New Orleans, Philadelphia FED Conference on
Monetary and Macro Economics, SED Cambridge, NBER Summer Institute (RSW).
2006: Philadelphia FED Conference on Monetary and
Macro Economics, NBER Small Group Meeting (RSW), SED Prague, NBER Summer
Institute (RSW), NBER Summer Institute (EFG), NBER Summer Institute (EFCE),
Minnesota Macro Conference.
2005: Search and Matching
Workshop at the University of Pennsylvania, SED Vancouver, NBER Summer
Institute (RSW).
2004: Labor Market Models at Aarhus University, ESWC
2005 at UCL, NBER Summer Institute (RSW).
Conference Organization:
2017: Co-organizer, Minnesota Macro Workshop.
2016: Co-organizer, National Bureau of Economic
Research, EFG Fall Meeting.
2014-: Co-organizer, National Bureau of Economic
Research, Labor Market Perspectives Group.
2009-: Co-organizer, University of Pennsylvania,
Search and Matching Workshop.
2005-: Co-organizer, University of Pennsylvania, Money
and Macroeconomic Seminar.
2015: Program Committee, Econometric Society, North American
Meeting.
2014: Program Committee, Econometric Society, World
Congress.
2007-2012: Scientific Committee, Society for Economic
Dynamics.
Teaching Experience:
Lecturer: University of Pennsylvania, Macroeconomics
(graduate), 2015-2017.
Lecturer: University of Pennsylvania, Labor Economics
(graduate), 2010, 2013-2017.
Lecturer: University of Pennsylvania, Markets with
Frictions (undergraduate), 2010, 2011, 2013, 2015.
Lecturer: UCLA, Mini Course on Search Theory
(graduate), 2013.
Lecturer: Princeton University, Advanced Macro Theory
I (graduate), 2012.
Lecturer: EIEF, Random and Directed Search (summer
school), 2012.
Lecturer: University of Pennsylvania, Topics in
Macroeconomics (graduate), 2006, 2011, 2014.
Lecturer: University of Pennsylvania, Intermediate Macro (undergraduate), 2006, 2007, 2009, 2014.
Advising:
Jan Tilly (2017, Private Sector), Chunzan Wu (2016,
University of Miami), Jean Flemming (2016, Oxford University), Yasser Boualam
(2015, University of North Carolina, Chapel Hill), Garth Baughman (2015,
Federal Reserve Board), Serena Rhee (2014, University of Hawaii), Naijia Guo (2014, Chinese University of Hong Kong), Fei Li (2013, University of North Carolina, Chapel Hill),
Andrew Clausen (2013, University of Edinburgh), Aaron Hedlund (2012, University
of Missouri), Fatih Karahan (2012, Federal Reserve Bank of New York), Liang
Wang (2011, University of Hawaii), Ludo Visschers
(2009, University of Edinburgh), Rafael Silveira
(2007, Bank of America).
Refereeing:
American Economic Review, American Economic Journal:
Macroeconomics, B.E. Journal of Macroeconomics, Canadian Journal of Economics, Econometrica, Economic Journal, Economic Theory, European
Economic Review, Israeli National Science Foundation, Journal of Economic
Dynamics and Control, Journal of Economic Literature, Journal of Economic
Theory, Journal of the European Economic Association, Journal of Labor
Economics, Journal of Monetary Economics, Journal of Political Economy, Journal
of Public Economics, International Economic Review, Labor Economics, National
Science Foundation, Review of Economic Dynamics, Review of Economic Studies.