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Title
Author(s)
Year
Marc Fleurbaey
2014
The achievements and limitations of the classical theory of optimal labor-income taxation based on social welfare functions are now well known, although utilitarianism still dominates public economics. We review the recent interest that has arisen for ...
Alexandre Mas
2014
This paper asks whether disclosing wages to the public changes wage setting at the top of the public sector income distribution. I evaluate a 2010 California mandate that required cities to submit municipal salaries to the State, to be posted on a public ...
2014
We investigate the role of dynamic production inputs and their associated adjustment costs in shaping the dispersion of static measures of capital misallocation within industries (and countries). Across nine data sets spanning 40 countries, we find that ...
Alexandre Mas
2014
This paper documents that rotation group bias — the tendency for labor force statistics to vary systematically by month in sample in labor force surveys — in the Current Population Survey (CPS) has worsened considerably over time. The estimated ...
2014
The recent financial crisis and the difficulty of using mainstream macroeconomic models to accurately monitor and assess systemic risk have stimulated new analyses of how we measure economic activity and the development of more sophisticated models in ...
2014
Seit der Finanz- und Wirtschaftskrise ist die Staatsverschuldung einiger Euroländer so stark gestiegen wie nie zuvor. Und eine glaubhafte Konsolidierungsstrategie ist nicht in Sicht. Im Gegenteil, vermehrt wird sogar eine Lockerung der Sparpolitik ...
2014
In this article, we introduce an empirical framework to analyze how firm performance is affected by increased globalization. Using this framework, we discuss recent work on measuring the impact of various shocks firms face in the global marketplace, such ...
2014
This paper develops a framework for measuring, allocating and managing systemic risk. SystRisk, our measure of total systemic risk, captures the a priori cost to society for providing tail-risk insurance to the financial system. Our allocation principle ...
Alan Blinder
2014
The U.S. economy has grown faster--and scored higher on many other macroeconomic metrics--when the President of the United States is a Democrat rather than a Republican. For many measures, including real GDP growth (on which we concentrate), the ...
Esteban Rossi-Hansberg
2014
ABSTRACT:  We study the impact of regional and sectoral productivity changes on the U.S. economy. To that  end, we consider an environment that captures the effects of interregional and intersectoral trade in  propagating disaggregated productivity ...
Brandice Canes-Wrone
2014
We consider two classes of explanations for the rise in policy-related economic uncertainty in the United States since 1960. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and ...
2014
In a world with self-generated, endogenous risk and time-varying risk premia, price stability and financial stability are inseparable. A monetary analysis based on the distribution of liquidity mismatch across sectors provides valuable information about ...
2014
Long-term transition rates calculated from the Current Population Survey, the Survey of Income and Program Participation, and Rutgers University’s Work Trends Survey indicate that the long-term unemployed have a 20 to 40 percent lower probability of being ...
Alan Blinder
2014
The worst financial crisis since the 1930s changed academic, financial, regulatory, and political thinking in many ways. One is the realization that we allowed (or maybe even enabled) financial market participants to construct a system that was amazingly ...
Marc Fleurbaey
2014
ABSTRACT: An early death is, undoubtedly, a serious disadvantage. However, the compensation of short-lived individuals has remained so far largely unexplored, probably because it appears infeasible. Indeed, short-lived agents can hardly be identified ex ...
Harold James
2014
There are some striking similarities between the pre 1914 gold standard and EMU today. Both arrangements are based on fixed exchange rates, monetary and fiscal orthodoxy. Each regime gave easy access by financially underdeveloped peripheral countries to ...
2014
This article studies the full equilibrium dynamics of an economy with financial frictions. Due to highly nonlinear amplification effects, the economy is prone to instability and occasionally enters volatile crisis episodes. Endogenous risk, driven by ...
Sir Angus Deaton
2014
Angus Deaton February, 2014 in In 100 Years: Leading Economists Predict the Future, eds. Ignacio Palacios-Huerta (Cambridge: MIT Press, 2014) Development Macroeconomics Economics and Finance Download File External Link ...
2013
The deepest economic collapse in 75 years occurred because of a widespread failure across the financial system rather than a single cause. In order to safeguard the economy in the future, I propose in this paper that strong regulation, implementation and ...
Oleg Itskhoki
Benjamin Moll
2013
We study optimal Ramsey policies in a standard growth model with financial frictions. In the model, heterogeneous entrepreneurs face borrowing constraints which result in a misallocation of capital and reduced labor productivity. In the short-run, the ...

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