About

Adrien Auclert is an Associate Professor of Economics at Stanford University, with a focus on inequality, macroeconomics, and international economics. He holds the position of Assistant Professor in the Stanford Economics Department and is actively involved in research as a Research Affiliate at the Center for Economic Policy Research, a Faculty Fellow at the Stanford Institute for Economic Policy Research, and a Faculty Research Fellow at the National Bureau of Economic Research. His research interests include macroeconomics, financial economics, and monetary economics, with specific attention to inequality, consumption, monetary and fiscal policy, and international economics. Auclert has been recognized for his contributions to monetary research, notably as the inaugural recipient of the Janet Yellen Award for Monetary Research, which honors early-career scholars for significant, policy-relevant contributions to monetary economics research.

Research topics

• Computer Science
• Economics
• Econometrics
• Mathematics
• Mathematical analysis
• Applied mathematics
• Mathematical optimization
• Monetary economics
• Algorithm
• Mathematical economics

Selected publications

• New Keynesian Economics with Household and Firm Heterogeneity

  SSRN Electronic Journal · 2026-01-01

  preprintOpen access
  PublisherDOI

• Version 3

  Open MIND · 2026-01-01

  other1st authorCorresponding

  Top-level PSID Stata dataset used for the analysis in A. Auclert, "Monetary Policy in the Redistribution Channel", American Economic Review, June 2019

• Replication Data for: Determinacy and Large-Scale Solutions in the Sequence Space

  Harvard Dataverse · 2026-01-22

  datasetOpen access1st authorCorresponding

  This is the replication package for "Determinacy and Large-Scale Solutions in the Sequence Space," accepted in 2025 by the Journal of Political Economy: Macroeconomics.

  PublisherDOI

• Version 2

  Open MIND · 2026-01-01

  other1st authorCorresponding

  Top-level PSID Stata dataset used for the analysis in A. Auclert, "Monetary Policy in the Redistribution Channel", American Economic Review, June 2019

• Version 1

  Open MIND · 2026-01-01

  other1st authorCorresponding

  Top-level PSID Stata dataset used for the analysis in A. Auclert, "Monetary Policy in the Redistribution Channel", American Economic Review, June 2019

• Archival Version

  Open MIND · 2026-01-01

  other1st authorCorresponding

  Top-level PSID Stata dataset used for the analysis in A. Auclert, "Monetary Policy in the Redistribution Channel", American Economic Review, June 2019

• Comment

  NBER Macroeconomics Annual · 2025-07-01

  article1st authorCorresponding
  PublisherDOI

• The Macroeconomics of Tariff Shocks

  National Bureau of Economic Research · 2025-04-01 · 16 citations

  reportOpen access1st authorCorresponding

  We study the short-run effects of import tariffs on GDP and the trade balance in an open-economy New Keynesian model with intermediate input trade.We find that temporary tariffs cause a recession whenever the import elasticity is below an openness-weighted average of the export elasticity and the intertemporal substitution elasticity.We argue this condition is likely satisfied in practice because durable goods generate great scope for intertemporal substitution, and because it is easier to lose competitiveness on the global market than to substitute between home and foreign goods.Unilateral tariffs do tend to improve the trade balance, but when other countries retaliate the trade balance worsens and the recession deepens.Taking into account the recessionary effect of tariffs dramatically brings down the optimal unilateral tariff level derived in standard trade theory.

  PublisherDOI

• The Race Between Asset Supply and Asset Demand

  National Bureau of Economic Research · 2025-11-01 · 2 citations

  reportOpen access1st authorCorresponding

  We introduce an asset supply-and-demand approach to analyze the trajectory of US aggregate wealth, real interest rates, and fiscal sustainability.Our framework uses micro-founded and easy-toimplement sufficient statistics to quantify how shifts in demographics, inequality, and other forces affect asset market equilibrium.From 1950 to the present, rapid population aging, rising income inequality, increasing foreign demand for US assets, and declining productivity growth all contributed to a surge in asset demand.Asset supply initially fell, then turned around sharply, mainly driven by increases in government debt and the value of capitalized profits.Overall, asset demand won the race, and interest rates fell.Looking ahead to 2100, population aging will continue to strongly push up asset demand, but at current tax and benefit levels, asset supply will win the race, as rising entitlement costs push up government debt even more.While rising asset demand creates space for debt to eventually reach 250% of GDP without higher interest rates, stabilizing debt at any level requires a permanent fiscal adjustment of at least 10% of GDP.

  PublisherDOI

• The Race Between Asset Supply and Asset Demand

  SSRN Electronic Journal · 2025-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

Recent grants

• CAREER: Macroeconomic Implications of Microeconomic Heterogeneity

  NSF · $530k · 2021–2027

• Heterogeneity, Household Behavior, and the Transmission of Aggregate Shocks

  NSF · $496k · 2019–2024

Frequent coauthors

• Matthew Rognlie

  National Bureau of Economic Research

  98 shared

• Ludwig Straub

  67 shared

• Martin Souchier

  Harvard University Press

  27 shared

• Frederic Martenet

  Stanford University

  20 shared

• Hannes Malmberg

  University of Minnesota System

  20 shared

• Bence Bardóczy

  Federal Reserve

  9 shared

• Rodolfo Rigato

  Harvard University Press

  4 shared

• Rishabh Aggarwal

  Dr. D. Y. Patil Medical College, Hospital and Research Centre

  3 shared

Awards & honors

• Janet Yellen Awards for Monetary Research