News

Looking Beyond Averages: An Interview with Stephanie Ettmeier

15 December, 2025

In the new interview on the CERGE-EI blog, Stephanie Ettmeier reflects on her unconventional path into economics, from anthropology and political science to empirical macroeconomics, and explains what motivated her to join CERGE-EI.

She discusses the core questions shaping her research: when economic shocks or policy changes occur at the aggregate level, who actually bears the consequences? And how can we best measure these effects?

Stephanie Ettmeier states: “A policy that looks neutral in aggregate terms can fall very heavily on specific income groups, regions, or occupations.”

The conversation explores her work on fiscal austerity, tax policy, and the historical evolution of inequality, highlighting why aggregate indicators such as GDP or inflation often mask substantial heterogeneity across households, regions, and occupations. Ettmeier also explains her methodological approach, including the development of a cross-sectional unit VAR (csuVAR), designed to study how entire distributions respond to macroeconomic shocks.

Beyond research, the interview touches on teaching and mentoring at CERGE-EI. Ettmeier explains how her Applied Macroeconomics course integrates theory and empirical tools to equip students with the skills needed to conduct independent research and critically engage with economic policy debates.

“By the end of the course, students should be able to take a question, find the right data, and work through the analysis themselves.”

Read the full interview on the CERGE-EI blog.