Current Research

 

NEW! Book-Value Wealth Taxation, Capital Income Taxation, and Innovation, JUNE 2024
(with Kambourov, Kuruscu, and Ocampo)
Substantially revised and expanded version of “Taxing Wealth and Capital Income when Returns are Heterogeneous”. 

NEW! Consumption Dynamics and Welfare Under Non-Gaussian Earnings Risk
(randomized author order: Fatih Guvenen, Serdar Ozkan, Rocio Madera), March 2024.

The Lifecycle Origins of Inequality (slides coming soon), 2024
(with Luigi Pistaferri and David Price)

On the Mechanics of Top Wealth Inequality SLIDES (Draft coming soon)
(with Sergio Ocampo and Serdar Ozkan)

REVISED Skewed Business Cycles
(non-alphabetical: Salgado, Guvenen, and Bloom), May 2023.
Slides
Data and Replication Files, VoxEU Article (nontechnical summary)

REVISED: Use It or Lose It:  Efficiency and Redistributional Effects of Wealth Taxation
(with Gueorgui Kambourov, Burhan Kuruscu, Sergio Ocampo, Daphne Chen), 2023, Quarterly Journal of Economics, May 2023.
Slides.
Region Magazine (free access), Financial Times, Bloomberg 1, Bloomberg 2, The Economist

NEW! Global Trends in Income Inequality and Income Dynamics: New Insights from GRID
(with Luigi Pistaferri and Gianluca Violante) Quantitative Economics special issue, November 2022.

REVISED (Nov 2022): Benchmarking Global Optimizers (Comparing TikTak and 5 Global Optimizers from NLopt)
(with Antoine Arnoud and Tatjana Kleineberg), November 2022
Computer Code for TikTak Global Optimizer posted on GitHub: Link

NEW! A Tractable Income Process for Business Cycle Analysis  
(with McKay and Ryan), February 2022. 
Slides

The Great Micro Moderation 
(with Bloom, Pistaferri, Salgado, Sabelhaus, Song), November 2017.
Slides

Some thoughts on wage/job polarization: My published discussion of Foote/Ryan paper at the NBER Macroannual 2014.