Category Archives: Uncategorized

Risk and Information in the Municipal Bond Market

NBER Reporter 2014 Number 3: Research Summary.

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Declining Savings Among the Bottom 90%

From Saez and Zucman (2014)

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Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data

From Emmanuel Saez and Gabriel Zucman: This paper combines income tax returns with Flow of Funds data to estimate the distribution of household wealth in the United States since 1913. We estimate wealth by capitalizing the incomes reported by individual … Continue reading

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Capital Depreciation and Labor Shares Around the World: Measurement and Implications

From Loukas Karabarbounis and Brent Neiman: The labor share is typically measured as compensation to labor relative to gross value added (“gross labor share”), in part because gross value added is more directly measured than net value added. Labor compensation relative … Continue reading

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Investment Hangover and the Great Recession

From Alp Simsek, Andrei Sheifer, and Matthew Rognile: We present a model of investment hangover motivated by the Great Recession. In our model, overbuilding of residential capital requires a reallocation of productive resources to nonresidential sectors, which is facilitated by … Continue reading

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New Evidence on the Impact of Financial Crises in Advanced Countries

New (preliminary) work from Christy and David Romer: This paper revisits the aftermath of financial crises in advanced countries in the decades before the Great Recession. We construct a new series on financial distress in 24 OECD countries for the … Continue reading

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Why public investment really is a free lunch – FT.com

Why public investment really is a free lunch – FT.com.

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