Krzysztof Pytka

Cześć!

I'm a PhD candidate in Economics Image of a Krzysztof Pytka at the European University Institute in Florence, Italy. I specialize in Macroeconomics, in particular in 1. consumption; and 2. search theory. My technical interests also cover computational economics and (applied) statistical learning. For some time, I've focused on incorporating frictions in the purchasing technology into the standard incomplete markets model.

This academic year I am on the Job Market and will be available for interviews at:

Research

Working Papers

1. Shopping Effort in Self-Insurance Economies - Job Market Paper [article] [slides]

Best Paper Prize for Young Economists at the WIEM’16 conference.

How are income fluctuations transmitted to consumption decisions if the law of one price does not hold? I propose a novel and tractable framework to study search for consumption as part of the optimal savings problem. Due to frictions in the retail market, households have to exert some effort to purchase the consumption good. This effort has two components: 1. effort to search for price bargains; 2. effort required to purchase consumption of a given size. These two motives are necessary to replicate two seemingly contradictory shopping patterns observed in the data, namely: higher time spent shopping by the unemployed and retirees and (conditioned on being employed) the positive elasticity of shopping time with respect to labor income. The former is well known in the literature, while the latter is new and I document it using data from the American Time Use Survey. The model allows me to reconcile the traditional savings theory with households' shopping behavior in a quantitatively meaningful way. As I show frictions in the purchasing technology generate important macroeconomic implications for modeling inequality and, in general, household consumption.

2. Lotteries in Equilibrium Price Dispersion

In this paper I propose a framework of search for consumption in which every search intensity can be rationalized as a stable equilibrium. I show that in search economies such as those proposed by Burdett and Judd (1983) the low-search equilibrium is unstable and the high-search equilibrium is stable. I document examples from the literature in which models are calibrated to the unstable one. I demonstrate that the stability of those allocations can be recovered using the framework proposed in the paper. Moreover, in contrast to other models, in my framework the degenerate Diamond (1971)-type equilibrium is shown to be unstable.

Work in progress

1. General Equilibrium Theory of Shopping, Consumption, and Price Dispersion (jointly with Greg Kaplan)

2. Labor Market and Business Cycle: Expansion vs. Contraction

3. Shape-Preserving Chebyshev Approximation of Multivariate Functions

References

People who can say something more about my research agenda (and me):

  1. Árpád Ábrahám (EUI);
  2. Piero Gottardi  (EUI);
  3. Greg Kaplan (UChicago);
  4. Mark Aguiar (Princeton).

Résumé

You can find my CV here.

Teaching

In the course of my Master and PhD studies I was a TA for some courses:

  1. Macroeconomics [PhD course @EUI];
  2. Advanced Statistical Learning in R/S-Plus [MA course @SGH];
  3. Introduction to Econometrics [BA course @SGH];
  4. Operations Research [BA course @SGH].

Here you can find the (old) website with teaching materials.

Contact

Department of Economics
European University Institute
Villa La Fonte,
Via delle Fontanelle 18,
I-50014 San Domenico di Fiesole, Italy
e-mail: ***@EUI.eu

Misc.

In my free time I (used to) write for Hummus Œconomicus, a Polish popular-science blog about economics. Here you can find my posts (sadly only in Polish).

If you're curious about the pronounciation of my given name it goes by [kʂɨʂt̪ɔf] in IPA. But Christoph is totally fine with me.

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