Cosmin L. Ilut, Professor

Professor Ilut’s major fields of interest are macroeconomics, international finance, asset pricing, and economics of information. Specifically, he focuses on the role of expectations and how agents incorporate information. He is currently focusing on settings in which agents face model uncertainty. Based on decision theoretical foundations (ambiguity aversion), he studies the role of such uncertainties for understanding macroeconomic issues like business cycle fluctuations, asset pricing and optimal policy.

Contact Info:

Office Location:	238 Social Sciences, Box 90097, Durham, NC 27708
Email Address:
Web Page:	https://sites.google.com/site/cosminilut/

Teaching (Fall 2025):

• ECON 702D.001, MACROECONOMIC ANALYSIS I Synopsis

  Social Sciences 111, MW 10:05 AM-11:20 AM

• ECON 702D.01D, MACROECONOMIC ANALYSIS I Synopsis

  Social Sciences 113, M 06:30 PM-07:20 PM

Education:

Ph.D.	Northwestern University	2009
M.A.	Northwestern University	2005
MA, Economics	Central European University, Budapest, Hungary	2004
BS, Economics	Babes-Bolyai University, Cluj-Napoca, Romania	2002

Specialties:

Macroeconomics
International Economics and Finance
Financial Economics

Research Interests: Macroeconomics, International Finance, Economics of Information

Professor Ilut’s major fields of interest are macroeconomics, international finance, asset pricing, and economics of information. Specifically, he focuses on the role of expectations and how agents incorporate information. He is currently focusing on settings in which agents face model uncertainty. Based on decision theoretical foundations (ambiguity aversion), he studies the role of such uncertainties for understanding macroeconomic issues like business cycle fluctuations, asset pricing and optimal policy.

Curriculum Vitae  Bio

Recent Publications   (More Publications)

1. Bianchi, F; Ilut, C; Saijo, H, Diagnostic Business Cycles, Review of Economic Studies, vol. 91 no. 1 (January, 2024), pp. 129-162 [doi]  [abs]
2. Ilut, C; Valchev, R, Economic Agents as Imperfect Problem Solvers, Quarterly Journal of Economics, vol. 138 no. 1 (February, 2023), pp. 313-362 [doi]  [abs]
3. Ilut, C; Schneider, M, Ambiguity, in Handbook of Economic Expectations (January, 2022), pp. 749-777, ISBN 9780128234761 [doi]  [abs]
4. Ilut, C; Saijo, H, Learning, confidence, and business cycles (January, Submitted, 2021), pp. 354-376 [doi]  [abs]
5. Ilut, C; Valchev, R; Vincent, N, Paralyzed by Fear: Rigid and Discrete Pricing Under Demand Uncertainty (September, Submitted, 2020), pp. 1899-1938 [doi]  [abs]

News Story: New Faculty Member Cosmin Ilut