JACOB SUNDRAM
(Jacob Villeza Marott Sundram)
Job Market Candidate 2025-26
Department of Economics, University of Copenhagen
I am a PhD student at the Department of Economics at the University of Copenhagen on the 2025-26 job market. I visited the Department of Economics at Princeton University in 2024. My research interests are in heterogeneous agent macroeconomics, business cycles, and international macroeconomics.
JOB MARKET PAPER
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Monetary Policy, Heterogeneous Returns, and Top Inequality
Who are the winners and losers of monetary policy? I build a model where households earn different returns on their wealth to study this. I find that the rich disproportionately gain from easy monetary policy: The top 0.1% gain 11% of the income from monetary policy. This is almost 10 times standard models where all households earn the same return. This has crucial implications for policy.
RESEARCH
- Fiscal Policy in Small Open Economies: The International Intertemporal Keynesian Cross
Revised and resubmitted at Review of Economics and Statistics.
- The Transmission of Foreign Demand Shocks
Revised and resubmitted at Journal of the European Economic Association.
(with Jeppe Druedahl, Søren Hove Ravn, Laura Sunder-Plassmann, and Nicolai Waldstrøm) - Fiscal Multipliers in Small Open Economies with Heterogeneous Households
[Working paper]
[Code]
Forthcoming at IMF Economic Review.
(with Jeppe Druedahl, Søren Hove Ravn, Laura Sunder-Plassmann, and Nicolai Waldstrøm) - International Spillovers of Monetary Policy: The Role of Currency Compositions
ECB Young Economist Prize 2025 finalist.