ERC Proof of Concept Grant für Ökonom der Uni Bonn

Christian Bayer - from the Institute for Macroeconomics and Econometrics at the University of Bonn has been awarded an ERC Proof of Concept Grant. Volker Lannert / University of Bonn all images in original size . The economist Professor Christian Bayer from the Institute for Macroeconomics and Econometrics at the University of Bonn has been awarded a Proof of Concept (PoC) Grant by the European Research Council (ERC). This program hands researchers €150,000 in funding for up to 18 months to help them commercialize their ideas from previous ERC projects through excellent basic research. The project that has now secured funding, entitled "BAyesian Estimation for Heterogeneous Agent New Keynesian Models" (BASEforHANK), is geared toward developing a software tool for political decision-makers that will show them how planned measures will affect the economy as a whole as well as income levels and wealth distribution. This will make it easier for them to understand the consequences of their policies. The tool is based on existing dynamic stochastic general equilibrium (DSGE) models, which can be found at virtually every political institution nowadays.