Tag Archives: Ivan Werning

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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Labor Mobility within Currency Unions

From Ivan Werning and Emmanuel Fahri: We study the effects of labor mobility within a currency union suffering from nominal rigidities. When the demand shortfall in depressed region is mostly internal, migra- tion may not help regional macroeconomic adjustment. When … Continue reading

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Comparative Advantage and Optimal Trade Policy

From Arnaud Costinot, Dave Donaldson, Jonathan Vogel, Iván Werning: The theory of comparative advantage is at the core of neoclassical trade theory. Yet we know little about its implications for how nations should conduct their trade policy. For example, should import sectors with weaker … Continue reading

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A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

From Emmanuel Farhi and Iván Werning, We provide a unifying foundation for macroprudential policies in financial markets for economies with nominal rigidities in goods and labor markets. Interventions are beneficial because of an aggregate demand externality. Ex post, the distribution of … Continue reading

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