Email: fatihguvenen “at” gmail “dot” com


Ph.D, Economics, Carnegie Mellon University, 2001.
M.A, Economics, Carnegie Mellon University, 1998.
B.Sc., Electrical and Electronics Engineering, Bilkent University, 1995.


Curtis L. Carlson Professor of Economics, University of Minnesota, 2017 – present.
Founding Director, MEBDI (Minnesota Economics Big Data Institute), 2019 — present.
Research Consultant, Federal Reserve Bank of Minneapolis, 2015 – present.
Research Associate, National Bureau of Economic Research, 2013 – present.


  • Use It or Lose It: Efficiency Gains from Wealth Taxation (with Gueorgui Kambourov, Burhan Kuruscu, Sergio Ocampo, and Daphne Chen), 2019 (R&R QJE)
  • Skewed Business Cycles (with Nick Bloom and Sergio Salgado), 2019 (R&R QJE)
  • Offshore Profit Shifting and Domestic Productivity Measurement, 2018 (with Raymond Mataloni, Dylan Rassier, Kim Ruhl), American Economic Review, accepted)
  • Lifetime Incomes In the United States Over Six Decades (with Greg Kaplan, Jae Song, Justin Weidner), 2021 (AEJ: Applied, forthcoming).
  • Skewed Idiosyncratic Income Risk over the Business Cycle: Sources and Insurance (with Christopher Busch, David Domeij, and Rocio Madera), AEJ: Macro, forthcoming.
  • What Do Data on Millions of U.S. Workers Reveal About Life Cycle Labor Income Risk? (with Fatih Karahan, Serdar Ozkan, and Jae Song), Econometrica, September 2021.
  • Firming Up Inequality (with Jae Song, David Price, Nick Bloom, and Till von Wachter), Quarterly Journal of Economics, February 2019.
  • Multidimensional Skill Mismatch, (with Burhan Kuruscu, Satoshi Tanaka, and David Wiczer), AEJ: Macro, 2020.
  • The Disappearing Large-Firm Premium (with Nick Bloom, Ben Smith, Till von Wachter, Jae Song), AEA P&P, 2018.
  • Worker Betas: Five Facts about Systematic Earnings Risk (with Sam Schulhofer-Wohl, Jae Song, Motohiro Yogo), AER P&P, 2017.
  • Heterogeneous Scarring Effects of Full-Year Non-employment (with Fatih Karahan, Serdar Ozkan, Jae Song), AER P&P, 2017.
  • Top Income Inequality in the 21st Century: Some Cautionary Notes (with Greg Kaplan), FRB Minneapolis Quarterly Review 2017. 
  • Inferring Labor Income Risk and Partial Insurance from Economic Choices (with Anthony A. Smith, Jr.),  Econometrica, November 2014, Vol 82, No 6pp. 2085–2129.
  • Women’s Emancipation Through Education: A Macroeconomic Analysis, (with Michelle Rendall), Review of Economic Dynamics, 2014.
  • The Nature of Countercyclical Income Risk (with S. Ozkan and J. Song),  Journal of Political Economy, 2014, Vol. 122, No. 3, pp 621-660.
  • Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis (with B. Kuruscu and S. Ozkan), Review of Economic Studies, 2014, Vol. 81, pp. 818-850.
  • How Risky Are Recessions for Top Earners? (with Greg Kaplan and Jae Song),  American Economic Review, P&P,  2014, Vol. 104, No 5, pp. 148-153.
  • Joint Search Theory: New Opportunities and New Frictions(with B. Guler and G. Violante),  Journal of Monetary Economics, 2012, Vol. 59, No. 4, pp. 352-369.
  • Understanding the Evolution of the U.S. Wage Distribution: A Theoretical Analysis  (with B. Kuruscu),  Journal of the European Economic Association, 2012, Vol. 10, No. 3, pp. 482-517.
  • Macroeconomics with Heterogeneity: A Practical Guide, Federal Reserve Bank of Richmond’s Economic Quarterly, 2011, Vol. 97, No 3, pp. 255-326.
  • A Parsimonious Macroeconomic Model for Asset Pricing, Econometrica, (lead article), November   2009, Vol. 77, No 6, pp. 1711-1750.
  • A Quantitative Analysis of the Evolution of the U.S. Wage Distribution: 1970-2000 (with B. Kuruscu), NBER Macroeconomics Annual, 2009, Vol. 24, pp. 227-276, University of Chicago Press.
  • An Empirical Investigation of Labor Income Processes, Review of Economic Dynamics, January  2009, Vol. 12, No 1, pp. 58-79.
  • Consumption Based Asset Pricing Models: Theory (with H. Lustig), New Palgrave Dictionary of Economics, 2nd Edition, Eds. Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan, 2008.
  • Consumption Based Asset Pricing Models: Empirical Performance (with H. Lustig ), New Palgrave Dictionary of Economics, 2nd Edition, Eds. Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan, 2008.
  • Learning your Earning: Are Labor Income Shocks Really Very Persistent? American Economic Review, June 2007, Vol. 97, No. 3, pp. 687-712.
  • Do Stockholders Share Risk More Effectively than Non-stockholders?, Review of Economics and Statistics, May 2007, Vol. 89, No. 2, pp. 275-288.
  • Reconciling Conflicting Evidence on the Elasticity of Intertemporal Substitution: A Macroeconomic Perspective, Journal of Monetary Economics, October 2006, Vol. 53, No 7, pp. 1451-1472.
  • Does Market Incompleteness Matter for Asset Prices? (with B. Kuruscu),  Journal of the European Economic Association, P&P, April-May 2006, pp. 484-492.
  • The Glass Ceiling and The Paper Floor: Changing Gender Composition of Top Earners Since the 1980s (with Greg Kaplan and Jae Song), NBER Macroannual, 2020.
  • Lifetime Incomes In the United States: Today, Work in Progress (with Greg Kaplan and Jae Song).
  • A Parsimonious Earnings Process for Business Cycle Analysis (with Alisdair McKay and Conor Ryan)
  • Benchmarking Global Optimizers (with Antoine Arnaud and Tatjana Kleineberg)
  • Top Earnings Dynamics, Work in Progress (with Greg Kaplan and Jae Song).
  • Origins of Wealth Inequality (with Andreas Fagerang, Luigi Guiso, Joachim Hubmer, and Luigi Pistaferri).
  • Higher-Order Wage and Hours Dynamics over the Life Cycle: Evidence from France and Germany (with Christopher Busch and Priscilla Fialho)
  • Consumption Choice Under High-Order Income Risk, Work in Progress (with Neng Wang and Jinqiang Yang)  


  • Book Manuscript
  • Quantitative Economics With Heterogeneity: An A-to-Z Guidebook, under contract with Princeton University Press.



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