@HanbaekLee

Assistant Professor of Economics at UCambridge @CamEcon

hanbaeklee.com
Joined June 2020
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🚨 New working paper: 🕺 Dancing on the Saddles 1/ Solow and Ramsey-Cass-Koopmans gave us phase diagrams to visualize growth dynamics. But we lack a systematic counterpart for stochastic environments. I extend saddle-path analysis by introducing "conditional saddle paths."
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Very happy to see my JMP finally out! With heartfelt gratitude to my advisors, @JesusFerna7026 and Dirk Krueger!
JEEA@JEEA_NewsSep 16
Forthcoming article "Striking While the Iron is Cold: Fragility after a Surge of Lumpy Investments" by @HanbaekLee @EEANews @OUPAcademic Teaching materials available: eeassoc.org/teaching-materia… doi.org/10.1093/jeea/jvag042
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Hanbaek Lee retweeted
Alessandro Di Nola@aledinolaJul 2
The VFI-Toolkit can now solve models with heterogeneous agents and aggregate shocks. Still in beta. It relies on Hanbaek Lee’s Matched-Expectations Path algorithm @vfitoolkit @HanbaekLee 👇 discourse.vfitoolkit.com/t/a…

Aggregate Shocks (beta functionality)

Heterogenous Agent models with Aggregate Shocks have arrived in VFI Toolkit. Beta functionality for now but already quite powerful and may be of interest to some. I expect this to become a full...

discourse.vfitoolkit.com
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What is the stochastic counterpart to the Solow/Ramsey phase diagram? NEW WP by @HanbaekLee @CamEcon : “conditional saddle paths” give a geometric characterization of aggregate fluctuations and explain why K works in Krusell–Smith. ➡️econ.cam.ac.uk/publications/… #econtwitter
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6/ Why does it work? The conditional K-nullcline remains sign-determining in KS1998, just as in a simple RBC. The geometric structure guarantees monotone convergence → K uniquely indexes equilibrium states.
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7/ 📄 hanbaeklee.github.io/Webpage… The framework extends to bonds, endogenous labor (GHH), and more. Would love to hear your thoughts!
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CamEcon@CamEcon12 Dec 2025
The Nobel Laureate Professor Philippe Aghion gave the Alfred Marshall Lectures on the theme of “Rethinking Capitalism: The Power of Creative Destruction” at the Faculty. If you missed it, we now have video of this significant event in Lady Mitchell Hall: econ.cam.ac.uk/news/2025/nob…
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CamEcon@CamEcon3 Dec 2025
In his #JMP, Faculty #JMC Charles Parry develops and estimates an equilibrium model of the VC market to study start-up innovation and survival, the sectoral allocation of funding, and the drivers of cross-country differences in start-up activity. sites.google.com/view/charle…
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CamEcon@CamEcon27 Nov 2025
In her JMP, #JMC Deniz Atalar shows, using a model and Turkish firm data, the welfare costs of trade barriers depend on whether they spur or stifle innovation. In Turkey a 10% rise in trade barriers spurs innovation, cutting welfare losses by a quarter. denizatalar.com
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CamEcon@CamEcon24 Nov 2025
The Faculty of Economics is pleased to announce its 2025 Job Market Candidates. A complete list of the JMCs can be found here: econ.cam.ac.uk/people/job-ma… Over the next few days, we will introduce each of them with a tweet on their JMP, plus details of their career and research.
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Amazing Marshall Lecture by @ProfAghion. Really inspirational and very broad and key topics. And amazing dinner discussion.
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Another wonderful lecture by @ProfAghion! Continuation of the Marshall Lecture. Today it was about whether we should fear AI. And such a vivid mind. Inspirational
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Looking for a university to visit next year? We have two positions for visiting prof in economics at Cambridge to cover teaching in macro and finance. Details here: jobs.cam.ac.uk/job/51797/ and jobs.cam.ac.uk/job/51790/ Last few days to apply! @CamEcon
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Isaac Baley@isaacbaley19 Jun 2025
Macro Fluctuations with Micro Frictions (MFMF) at the @bse_barcelona Summer Forum @jandres_blanco @jan_eeckhout @Simon_Mongey
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Excited and honored to present my work at the @YaleCowles Macroeconomics Conference tomorrow! Grateful for the opportunity and looking forward to learning from an outstanding lineup.
Yale Department of Economics@YaleEconomics2 Jun 2025
Today, we welcome over 300 economists to @Yale for the annual @YaleCowles Summer Conferences! Check out the agendas and 60+ new papers here: cowles.yale.edu/events/confe…
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Hanbaek Lee retweeted
Isaac Baley@isaacbaley30 May 2025
Exciting lineup for the #bsesummerforum workshop "Macro Fluctuations with Micro Frictions" on June 19-20 Co-organized with the best team: @jan_eeckhout @Simon_Mongey @jandres_blanco @bse_barcelona More info on our and other workshops here: bse.eu/summer-forum/
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