Researcher Profiles Tommy Iao

Economic Research Department

Current research interests: macroeconomics, heterogeneous agent models, monetary-fiscal interactions, stabilisation policy design, consumption

Contact: iaot@rba.gov.au

• Google Scholar

Tommy is a macroeconomist whose work explores the aggregate implications of household and firm heterogeneity using micro data. His research focuses on monetary-fiscal interactions, policy transmission mechanisms, and consumption behaviour. He holds a PhD in Economics from New York University.

Research Papers

• Iao M (2025) ‘Fiscal Dominance Risk According to HANK’ Working Paper.
• Iao M (2025) ‘Why Does Unemployment Risk Reduce the MPC over the Business Cycle?’ Working Paper.
• Iao M and Y Selvakumar (2025) ‘Estimating Heterogeneous Economies with Micro Data’ Working Paper.