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Postdoctoral Fellow Yonatan Berman joins the LML Ergodicity Economics research programme

LML is delighted to announce that Yonatan Berman joins the Ergodicity Economics research programme as a Postdoctoral Fellow. Yonatan joins us from Paris School of Economics and has a PhD from Tel Aviv University.

Yonatan’s varied background includes knowledge in statistical physics and nonlinear dynamics, and as a graduate student he started collaborating with LML fellows Ole Peters and Alex Adamou. Together, they addressed the question of ergodicity in the dynamics of wealth distributions. Starting out as a summer school project, this evolved into a paper (https://ssrn.com/abstract=2794830). They found that the “ergodic hypothesis” that rescaled wealth converges rapidly to a stationary distribution, often made in theoretical models of wealth inequality, is invalidated by wealth data.

Yonatan’s current research lies in the intersection of public and labour economics, focusing on quantitative methods. He is specifically interested in the evolution of income and wealth distributions, economic mobility and their inter-relationship. A question often asked in light of the rising income inequality is whether economic growth predominantly benefits the already better-off. If social mobility is very low, this would indeed be the case. Yet, some evidence indicate that social mobility might be large enough to allow mean reversion. This may have important conclusions for the way changes in income inequality are interpreted. This question also has clear relevance for the ergodicity problem in economics and the concept of mixing.

 

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