Category Archives: Uncategorized

Aggregate Demand, Idle Time, and Unemployment

From Pascal Michaillat and Emmanuel Saez: This paper develops a model of unemployment fluctuations. The model keeps the architecture of the Barro and Grossman (1971) general disequilibrium model but replaces the disequilibrium framework on the labor and product markets by a … Continue reading

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Is Macroeconomics Hard? Brad DeLong

Is Macroeconomics Hard? Brad DeLongs Grasping Reality….

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How big cities that restrict new housing harm the economy

Here’s an interesting article/interview with Enrico Moretti by Emily Badger.

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Optimal Income Transfer Programs: Intensive versus Extensive Labor Supply Responses

From Emmanuel Saez: This paper analyzes optimal income transfers for low incomes. Labor supply responses are modeled along the intensive margin (intensity of work on the job) and along the extensive margin (participation into the labor force). When behavioral responses … Continue reading

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Is the EITC as Good as an NIT? Conditional Cash Transfers and Tax Incidence

From Jesse Rothstein: The EITC is intended to encourage work. But EITC-induced increases in labor supply may drive wages down. I simulate the economic incidence of the EITC. In each scenario that I consider, a large portion of low-income single … Continue reading

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Sources of Geographic Variation in Health Care: Evidence from Patient Migration

From Amy Finkelstein, Matthew Gentzkow, and Heidi Williams: We study the drivers of geographic variation in US healthcare utilization, using an empirical strategy that exploits migration of Medicare patients to separate the role of demand and supply factors. Our approach allows … Continue reading

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The Regional Evolution of Prices and Wages During the Great Recession

From Martin Beraja, Erik Hurst and Juan Ospina:  In this paper, we examine the evolution of prices, wages, employment and output across U.S. states during the Great Recession. To do so, we use over 76 billion price observations from the Nielsen … Continue reading

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Growth in Cities and Countries

From Chang-Tai Hsieh and Enrico Moretti: A large micro literature has documented the local forces leading to growth and decline of cities. This paper measures the consequences of these local forces on aggregate output and welfare. We use a Rosen-Roback model of … Continue reading

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What does the Future Hold for Our Economy?

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Optimal Wealth Taxation: Redistribution and Political Economy

Here are a few interesting links from Ivan Werning on capital taxation, Piketty, and political economy. 1. Optimal Wealth Taxation: Redistribution and Political Economy – slides from his plenary at SED 2014 2. A Reappraisal of Chamley-Judd Zero Capital Taxation … Continue reading

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