Moritz May
I am a Ph.D. candidate in economics at the University of Bonn. My research focuses on the macroeconomics of incomplete and frictional financial markets.
You can find my CV here and contact me at moritz-may [at] uni-bonn.de
Work in progress
Perceived Self-Insurance, with Luca Michels.
A robust finding from survey data is that workers are, on average, overly optimistic about their job prospects. This optimism affects the trade-off policymakers face between insuring consumption and incentivizing reemployment, as optimistic workers set higher reservation wages, exert less search effort, and engage in less self-insurance. In this paper, we analyze the economic incidence of misperceived labor market risk in a macroeconomic model with a frictional labor market and imperfect consumption insurance using data from the Survey of Consumer Expectations.The Macroeconomics of Public Capital Markets, with Martin Kornejew.
Public capital markets intermediate savings without the frictions of traditional banking. This has long inspired European policy initiatives to promote capital markets. Yet, the US financial systems appears to increasingly de-emphasize the role of public corporate financing. Guided by empirical evidence, we design a general equilibrium model with nontrivial financial architecture to investigate the macroeconomic role and determinants of public capital markets.