Jacob Marott Sundram defends his PhD thesis at the Department of Economics

Candidate:

Jacob Villeza Marott Sundram, Department of Economics, University of Copenhagen

Title:

International Macroeconomic Policies With Heterogeneity

Supervisors:

  • Søren Hove Ravn, Associate Professor, Department of Economics, University of Copenhagen
  • Jeppe Druedahl, Associate Professor, Department of Economics, University of Copenhagen

Assessment Committee:

  • Morten Graugaard Olsen, Associate Professor, Department of Economics, University of Copenhagen
  • Axelle Ferriere, Associate Professor, Department of Economics, Sciences Po 
  • Benjamin Born, Professor, Department of Economics, University of Bonn

Summary:

In our globalized world, an economic shift on the other side of the planet often matters just as much for us as what happens in our own country. Despite this, many policymakers and economists are most focused on what happens at home. In my PhD thesis, I study how the global macroeconomy affects the domestic economy. This involves answering questions such as: What happens if our biggest trade partner experiences a recession? And what happens if the global financial hegemon increases interest rates? My research addresses these questions from a macroeconomic perspective, reflecting what happens on average in the domestic economy. But averages may hide nuance. Perhaps the answer to the questions depends on whether you work in manufacturing, which sells a significant amount abroad, or if you hold stocks in firms in the financial hegemon. For this reason, my thesis puts a special emphasis on how different people are affected. This reveals that while some international development might be “good” on average, a significant number of people would prefer that it did not happen. Thus, my thesis studies some of the most traditional questions in macroeconomics but emphasizes the importance of taking seriously aspects that economics, as a field, has historically understated.

An electronic copy of the dissertation can be requested here: lema@econ.ku.dk