CURRENT WORK

• Use It or Lose It: Efficiency Gains from Wealth Taxation, (with  G. Kambourov,  B. Kuruscu, S. Ocampo, and D. Chen) SLIDES. Draft Coming Soon.

• REVISED DRAFT:  Multidimensional Skill Mismatch
    (with Burhan Kuruscu, Satoshi Tanaka, and David Wiczer).
  • In the media: Bloomberg, Washington Post

• FIRST DRAFT: Firming Up Inequality  (with Jae Song, David Price, Nick Bloom, and Till von Wachter).
  • Slides
  • In the media: Wall Street Journal, Wall Street Journal 2, Wall Street Journal 3, Bloomberg 1, Bloomberg 2, Washington Post, Telegraph, Fortune, Forbes, The Hill

• FIRST DRAFT:  Asymmetric Business Cycle Risk and Government Policy (with Christopher Busch, David Domeij, and Rocio Madera)

• COMPLETED DRAFT: What Do Data on Millions of U.S. Workers Reveal About Life-Cycle Earnings Risk?   (with Serdar Ozkan, Fatih Karahan, and Jae Song).  In revision. Updated draft coming soon.
  • Data Appendix (Excel file)
  • In the Media: Bloomberg, Slate, Washington Post, The Telegraph, Bloomberg/Business, CNBC
  • A nontechnical summary blog post we wrote for VoxEU
  • A very nice paper by three of my students on discretizing stochastic processes with non-zero skewness and excess kurtosis: Click here

•  The Glass Ceiling and The Paper Floor: Gender Differences Among Top Earners, 1981-2012,  (with Greg Kaplan and Jae Song), IN REVISION.
  • Appendix
  • In the Media:  The New Yorker, Wall Street Journal, Vox, Washington Post 1, Washington Post 2, The Atlantic
  • NBER Digest summary

• Lifetime Incomes in the United States, Work in Progress (with Greg Kaplan and Jae Song). SLIDES COMING SOON.

• Skewed Business Cycles  (with Nick Bloom and Sergio Salgado).

• BOOK: Quantitative Economics With Heterogeneity: An A-to-Z Guidebook,  under contract with Princeton University Press.  Publication in 2016.

PUBLISHED PAPERS

• Women’s Emancipation Through Education: A Macroeconomic Analysis (with Michelle Rendall), 2015, Review of Economic Dynamics, forthcoming.

• Inferring Labor Income Risk and Partial Insurance from Economic Choices*    (with Tony Smith).  2014,Econometrica.
  • Slides
  • Web Appendix

• The Nature of Countercyclical Income Risk  (with Serdar Ozkan and Jae Song), 2014,  Journal of Political Economy.
  • Web Appendices: Appendix A, Appendix B, Appendix C
  • Tables and Data in Appendices in Excel Format
  • Slides
  • Non-technical summaries in: NBER Digest, The Region Magazine

• How Risky Are Recessions for Top Earners?   (with Greg Kaplan and Jae Song), American Economic Review P&P, May 2014.

• Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis,   (with Burhanettin Kuruscu and Serdar Ozkan) Review of Economic Studies, 2014, Vol 81, pp. 818-850.
  • Summary in The Region Magazine 
  • Forbes Article

• Macroeconomics with Heterogeneity: A Practical Guide (Federal Reserve Bank of Richmond Economic Quarterly, 2011).

• Joint Search Theory: New Opportunities and New Frictions* (with Bulent Guler and Gianluca Violante), Journal of Monetary Economics, 2012, Vol. 59, No. 4, pp. 352-369.

• Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis*  (with Burhanettin Kuruscu), Journal of European Economic Association, 2012, Vol. 10, No. 3, pp. 482-517.

• A Parsimonious Macroeconomic Model for Asset Pricing*    Summary in Region Magazine , Econometrica, 2009, Vol. 77, No. 6, pp. 1711-1740.  Online Appendix

• A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000*   (with Burhanettin Kuruscu), NBER Macroeconomics Annual, 2009, Volume 24, pp. 231-276.

• An Empirical Investigation of Labor Income Processes*  Review of Economic Dynamics, 2009, Vol. 12, No 1, pp. 58-79.

• Learning Your Earning: Are Labor Income Shocks Really Very Persistent?*  American Economic Review, June 2007, Vol. 97, No. 3, pp. 687-712.    Online Appendix

• Do Stockholders Share Risk More Effectively than Non-stockholders?    Review of Economics and Statistics, May 2007, Vol. 89, No. 2, pp. 275-288.

• Reconciling Conflicting Evidence on the Elasticity of Intertemporal Substitution: A Macroeconomic Perspective  Appendix  Journal of Monetary Economics, October 2006, Vol. 53, No 7, pp. 1451-72.

• Does Market Incompleteness Matter for Asset Prices?  PAPER  (with Burhanettin Kuruscu) Journal of European Economic Association P&P, April-May 2006, pp. 484-492.

• Consumption-based Asset Pricing Models: Theory  PAPER   (with Hanno Lustig)  New Palgrave Dictionary of Economics, Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008.

• Consumption-based Asset Pricing Models: Empirical Performance  PAPER   (with Hanno Lustig) New Palgrave Dictionary of Economics, Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008.

     *The papers marked with a star are based on research supported by the National Science Foundation under grant number SES-0351001, SES-0649437 or SES-1357874.