Macroeconomics Seminar given by Professor Matthew D. Shapiro Held
- ecos
- Hit137
- 2024-04-30
Professor Matthew D. Shapiro's Macro Seminar Held
On April 25, 2024, the Department of Economics and the BK21 Educational Research Group at Sungkyunkwan University (Director Sunghyun Kim) invited Professor Matthew D. Shapiro(University of Michigan) to give a special lecture at the Thursday Seminar.
Professor Matthew D. Shapiro spoke at a seminar on the topic "Using Machine Learning to Construct Hedonic Price Indices." About 30 faculty members and graduate students from the Department of Economics gathered for this seminar. Professor Shapiro lectured on the methodology of developing price indices that reflect the prices and demand of goods in real-time using machine learning.
By estimating the Hedonic price index using product transactions and characteristics, it was demonstrated that traditional price indices tend to overestimate inflation on average and underestimate productivity and real output growth. This suggests that changes in inflation composition and measurement errors in sales may have influenced inflation in recent cases, such as supply chain issues due to COVID-19.
The Department of Economics and the BK21 Educational Research Group strive to build a global academic networking platform by inviting overseas scholars conducting cutting-edge research in various fields through their weekly Tuesday and Thursday seminar series.
In addition to this effort, to achieve the vision of nurturing global creative talents with interdisciplinary knowledge capable of providing innovative solutions to complex issues in the Korean economy, they invite numerous domestic scholars to conduct seminars. They also facilitate free question and answer sessions after the seminars to foster academic motivation among graduate students.