by David Miles Published in The Journal of the Economics of Ageing Volume 24, February 2023, 100425 Abstract This paper analyses economic implications of the different ways in which the population structure of countries...
Publications
Self-Enforcing Wage Contracts Redux
Self-Enforcing Wage Contracts Redux By Tim Worrall and Jonathan Thomas Forthcoming in the Journal of Institutional and Theoretical Economics Abstract This paper provides a personal perspective on self-enforcing wage...
Distortions, Misallocation and the Endogenous Determination of the Size of the Financial Sector
By Sevi Rodriguez Mora and Christian Bauer Published in The Economic Journal Abstract We present a model of heterogeneous firms and misallocation in which financial frictions are partially overcome if more human...
Directed Technical Change as a Response to Natural Resource Scarcity
By John Hassler, Per Krusell and Conny Olovsson Published in the Journal of Political Economy Abstract We develop a quantitative macroeconomic theory of input-saving technical change to analyze how markets economize on...
A Job Ladder Model With Stochastic Employment Opportunities
by Jake Bradley and Axel Gottfries. Published in Quantitative Economics. We set up a model with on‐the‐job search in which firms infrequently post vacancies for which workers occasionally apply. The model nests the...
Long-Term-Care Utility and Late-in-Life Saving
Long-Term-Care Utility and Late-in-Life Saving By John Ameriks, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, and Christopher Tonetti. Published in Journal of Political Economy in 2020 Abstract: Older wealth holders...
Older Americans Would Work Longer If Jobs Were Flexible
Older Americans Would Work Longer If Jobs Were Flexible By John Ameriks, Joseph Briggs, Andrew Caplin, Minjoon Lee, Matthew D. Shapiro, and Christopher Tonetti Published in the American Economic Journal: Macroeconomics...
How Individuals Respond to a Liquidity Shock: Evidence from the 2013 Government Shutdown
How Individuals Respond to a Liquidity Shock: Evidence from the 2013 Government Shutdown By Michael Gelman, Shachar Kariv, Matthew D. Shapiro, Dan Silverman, and Steven Tadelis Published in the Journal of Public...
House Prices and Growth with Fixed Land Supply
House Prices and Growth with Fixed Land Supply By David Miles and James Sefton Published in The Economics Journal Abstract: We analyse housing costs and patterns of residential development over the long term in a...
On the Heterogeneity in Family Earnings and Income Dyamics in the PSID
On the Heterogeneity in Family Earnings and Income Dynamics in the PSID By Iourii Manovski and Dmytro Hryshko Published in the American Review Abstract: A large body of knowledge on income dynamics in the United States...
Banking Panics as Endogenous Disasters and the Welfare Gains from Macroprudential Policy
Banking Panics as Endogenous Disasters and the Welfare Gains from Macroprudential Policy By Nobuhiro Kiyotaki, Mark Gertler, Andrea Prestipino Published in the American Economic Association Abstract: We study the...
New directions in measuring intergenerational mobility: Introduction
New directions in measuring intergenerational mobility: Introduction By Maia Güell, Sevi Rodríguez Mora, Gary Solon Published in the Economic Journal Abstract: We model household choice of schools under the Boston...
Estimating equilibrium effects of job search assistance
Estimating equilibrium effects of job search assistance By Pieter Gautier, Paul Muller, Bas van der Klaauw, Michael Rosholm and Michael Svarer Published in the Journal of Labor Economics Abstract: Identifying policy...
Working Papers
Summaries
Wage Adjustment in the Great Recession and Other Downturns: Evidence from the United States and Great Britain
Summary As of a quarter century ago, the conventional wisdom among macroeconomists was that real wage rates are more or less noncyclical, and many macroeconomic models described wage inflexibility as a key contributor...
Liquidity, Business Cycles, and Monetary Policy
Summary This paper derives a model economy in which money and other assets carry different liquidity. The aim of the model is to investigate how economic activity and asset prices depend on changes in productivity and...
The extent and cyclicality of career changes: Evidence for the U.K.
Summary One of the most important functions of the labour market is to pair the right set of workers with the right set of jobs. This assignment process, however, is slowed down by frictions that impede the reallocation...
