Articles
Insurance and Opportunities: The Welfare Implications of Rising Wage Dispersion (with Kjetil Storesletten and Giovanni L. Violante), Journal of Monetary Economics (2008)
Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against...
The Price and Quantity of Residential Land in the United States (with Morris A. Davis), Journal of Monetary Economics (2007)
One can conceptualize a house as a bundle comprising a reproducible tangible structure and a...
Housing and the Business Cycle (with Morris A. Davis), International Economic Review (2005)
In the United States, the percentage standard deviation of residential investment is more than twice...
Two Views of Inequality over the Life-Cycle (with Kjetil Storesletten and Giovanni L. Violante), Journal of the European Economic Association (2005)
Data on the life-cycle profiles of inequality in wages, earnings, hours worked and consumption contains...
Fiscal Policy with Heterogeneous Agents and Incomplete Markets, Review of Economic Studies (2005)
I undertake a quantitative investigation into the short run effects of changes in the timing...
Financial Globalization and Real Regionalization (with Fabrizio Perri), Journal of Economic Theory (2004)
Over the period 1972-1986, the correlations of GDP, employment and investment between the United States...
On the Distributional Effects of Reducing Capital Taxes (with David Domeij), International Economic Review (2004)
We investigate the welfare implications of changing the mix between capital and labor taxes for...
Why Has the US Economy become Less Correlated with the Rest of the World? (with Fabrizio Perri), American Economic Review (2003)
This paper is a companion piece to Financial Globalization and Real Regionalization. We ask whether...
Financial Autarky and International Real Business Cycles (with Fabrizio Perri), Journal of Monetary Economics (2002)
We describe a two-country, two-good model in which there do not exist any markets for...
Unpublished Papers
The International Diversification Puzzle is Not as Bad as You Think (with Fabrizio Perri) (2008)
In simple one-good international macro models, the presence of non-diversifiable labor income risk means that...
The Macroeconomic Implications of Rising Wage Inequality in the United States (with Kjetil Storesletten and Giovanni L. Violante) (2008)
In recent decades, the US wage structure has been transformed by a rising college premium,...
Dollarization and Financial Integration (with Cristina Arellano) (2008)
How does a country’s choice of exchange rate regime impact its ability to borrow from...
Consumption and Labor Supply with Partial Insurance: An Analytical Framework (with Kjetil Storesletten and Giovanni L. Violante) (2007)
This paper develops an analytical framework to study consumption and labor supply in a rich...
Interest Rates in a General Equilibrium Baumol-Tobin Model (1998)
This paper is a version of Romer’s general equilibrium interpretation of the Baumol-Tobin model. It...