Cosmin L. Ilut
Associate Professor of Economics
Professor Ilut’s major fields of interest are macroeconomics, international finance, asset pricing, and economics of information. Specifically, he focuses on the role of expectations and how agents incorporate information. He is currently focusing on settings in which agents face model uncertainty. Based on decision theoretical foundations (ambiguity aversion), he studies the role of such uncertainties for understanding macroeconomic issues like business cycle fluctuations, asset pricing and optimal policy.
- Ph.D., Northwestern University 2009
- M.A., Northwestern University 2005
Ilut, C, Kehrig, M, and Schneider, M. "Slow to hire, quick to fire: Employment dynamics with asymmetric responses to news." Journal of Political Economy 126, no. 5 (October 1, 2018): 2011-2071. Full Text Open Access Copy
Ilut, CL, and Benczur, P. "Evidence for Relational Contracts in Sovereign Bank Lending." Journal of the European Economic Association 13, no. 2 (September 29, 2015).
Ilut, CL. "Comment on "Risk and ambiguity in models of business cycles" by David Backus, Axelle Ferriere and Stanley Zin." Journal of Monetary Economics 69 (January 1, 2015): 64-69. Full Text
Bianchi, F, Ilut, CL, and Schneider, M. Uncertainty Shocks, Asset Supply and Pricing Over the Business Cycle. April 2017.
Ilut, CL, and Saijo, H. Learning, Confidence, and Business Cycles. December 2016.
Ilut, CL, Valchev, R, and Vincent, N. Paralyzed by Fear: Rigid and Discrete Pricing Under Demand Uncertainty. August 2016.
Ilut, C. Ambiguity Aversion: Implications for the Uncovered Interest Rate Parity Puzzle.: American Economic Association, July 2012. Full Text
Ilut, CL, Christiano, LJ, Motto, R, and Rostagno, M. Monetary Policy and Stock Market Booms. 2010.
Cognitively Costly Decision Making by Economic Agents: Micro and Macro Implications awarded by National Science Foundation (Principal Investigator). 2018 to 2021
Ambiguity, Business Cycle Dynamics and Optimal Policy awarded by National Science Foundation (Principal Investigator). 2013 to 2015