Research

Dirk Krueger’s Publications and Working Papers

Coalition-Proof Risk Sharing Under Frictions  Hal Cole, George Mailath, Yena Park January 2020, Working Paper
Should Germany Have Built a New Wall Macroeconomic Lessons from the 2015-18 Refugee Wave Christopher Busch, Zainab Iftikhar, Alexander Ludwig, Irina Popova  December 2019, Draft Coming Soon
Neoclassical Growth with Long-Term One-Sided Commitment Contracts Harald Uhlig October 2019, Preliminary Draft
Optimal Taxes on Capital in the OLG Model with Idiosyncratic Income Risk Alexander Ludwig December 2019, Submitted
 An Endogenous Growth Model with a Health Sector  Jesus Fernandez-Villaverde, Alex Ludwig, Matthias Schoen  May 2018, Very Preliminary Draft
On the Redistributive Effects of Government Bailouts in the Mortgage Market Kurt Mitman and Richard Fortyn July 2013 Under Revision
How Do Households Respond to Income Shocks Fabrizio Perri June 2011 Under Revision
Inter-generational Redistribution in the Great Recession Andrew Glover, Jonathan Heathcote and Jose-Victor Rios Rull Accepted, Journal of Political Economy, January 2020 
High Marginal Tax Rates on the Top 1%? Lessons from a Life Cycle Model with Idiosyncratic Income Risk Fabian Kindermann NBER WP 20601, CEPR DP 10208, Revise and Resubmit, American Economic Journal: Macroeconomics, June 2018
On the Welfare Costs of Consumption Fluctuations in the Presence of Memorable Goods Rong Hai and Andrew Postlewaite NBER WP 19386, CEPR DP 9623, Revise and Resubmit, Quantitative Economics, December 2019
Consumption Insurance Against Wage Risk: Family Labor Supply and Optimal Progressive Income Taxation Chunzan Wu NBER WP 26466, CEPR DP 12828, Accepted s.t. revisions, American Economic Journal: Macroeconomics, December 2019
How Does Tax Progressivity and Household Heterogeneity Affect Laffer Curves? Hans Holter and Sergei Stepanchuk Quantitative Economics, Vol. 10, 1317–1356, 2019
Analyzing the Effects of Insuring Health Risks: On the Tradeoff between Short Run Insurance Benefits vs. Long Run Incentive Costs Hal Cole and Soojin Kim Review of Economic Studies, Vol 86, 1123-1169, February 2019 
On the Distribution of the Welfare Losses of Large Recessions Kurt Mitman and Fabrizio Perri Advances in Economics and Econometrics: 11th Econometric Society World Congress in Montreal, March 2016
Macroeconomics and Heterogeneity, Including Inequality Kurt Mitman and Fabrizio Perri 2017 Handbook of Macroeconomics (Vol 2B, chapter 11), March 2016
On the Optimal Provision of Social Insurance: Progressive Taxation versus Education Subsidies in General Equilibrum Alexander Ludwig Journal of Monetary Economics Vol. 77, pp. 72-98, January 2016
Housing, Mortgage Bailout Guarantees and the Macro Economy Karsten Jeske and Kurt Mitman Journal of Monetary Economics Vol. 60, pp. 917-935
September 2013
Optimal Progressive Taxation and Education Subsidies in a Model of Endogenous Human Capital Formation Alexander Ludwig American Economic Review P&P, Vol. 103, pp. 496-501.
January 2013
A Dynamic Model of Housing Demand: Estimation and Policy Implications Patrick Bajari, Phoebe Chan, Dan Miller International Economic Review Vol. 54, pp. 409-442
February 2012 

Public versus Private Risk Sharing Risk Sharing

Theoretical Appendix with Extensive Proofs

Fabrizio Perri Journal of Economic Theory Vol 146, pp. 920-956
October 2010 

Solving the Multi-Country Real Business Cycle Model using a Smolyak-Collocation Method

FORTRAN Program to Compute Solution

FORTRAN Program to Evaluate Solution

Felix Kubler, Benjamin Malin Journal of Economic Dynamics and Control Vol 35, pp. 229-239
July 2010 
Consumption and Saving over the Life Cycle: How Important are Consumer Durables? Jesus Fernandez-Villaverde Macroeconomic Dynamics, Vol 15, pp. 725-770
February 2010
Cross-Sectional Facts for Macroeconomists Fabrizio Perri, Luigi Pistaferri, Gianluca Violante Review of Economic Dynamics, Vol 13(1), pp. 1-14
October 2009 

When is Market Incompleteness Irrelevant for the Price of Aggregate Risk?

Separate Online Appendix

Hanno Lustig Journal of Economic Theory, Vol 145, pp. 1-41
September 2009

Inequaliy Trends for Germany in the Last Two Decades: A Tale of Two Countries

Cross-Country Inequality Project

Nicola Fuchs-Schuendeln and Mathias Sommer
Review of Economic Dynamics, Vol 13(1), pp. 103-132
September 2009 

Taxing Capital? Not a Bad Idea After All!

Further Documentation of Some Results in the Paper

Juan Carlos Conesa, Sagiri Kitao American Economic Review, Vol. 99 (1), 25-48
April 2008 
Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data Hanno Lustig, Fabrizio Perri Journal of the European Economic Association, Vol. 6 (2-3), 715-726
November 2007
Origins and Consequences of Child Labor Restrictions: A Macroeconomic Perspective Matthias Doepke P. Rupert (ed.) Frontiers in Family Economics
October 2007
Markov equilibria in macroeconomics Felix Kubler The New Palgrave: A Dictionary of Economics, 2nd Edition, 2008
August 2006
On the Consequences of Demographic Change for Rates of Returns to Capital, and the Distribution of Wealth and Welfare Alexander Ludwig Journal of Monetary Economics, Vol. 54(1), pp. 49-87
August 2006 

Consumption over the Life Cycle: Facts from the Consumer Expenditure Survey

Technical Appendix containing further Details and Results

Jesus Fernandez-Villaverde Review of Economics and Statistics, Vol. 89(3), pp. 552-565
May 2006 
Public Insurance against Idiosyncratic and Aggregate Risk: The Case of Social Security and Progressive Income Taxation CESifo Economic Studies, Vol. 52(4), 587-620.
May 2006

Pareto Improving Social Security when Financial Markets are Incomplete!?

Data Appendix

Felix Kubler American Economic Review, Vol. 96(3), pp. 737-755
September 2005 
Does Income Inequality Lead to Consumption Inequality? Evidence and Theory

Data and Documentation can be found here

Readme File for the Program
Fabrizio Perri Review of Economic Studies, Vol. 73(1), pp. 163-193
August 2005 
A Description of My Research in the SED Newsletter Fabrizio Perri Economic Dynamics Newsletter, Volume 6, Issue 2, April 2005
April 2005
On the Optimal Progressivity of the Income Tax Code Juan Carlos Conesa Journal of Monetary Economics, Vol. 53(7), pp. 1425-1450
March 2005
Competitive Risk Sharing Contracts with One-Sided Commitment

Theoretical Appendix with Extensive Proofs
Harald Uhlig Journal of Monetary Economics, Vol. 53(7), pp. 1661-1691
February 2005 
Understanding Consumption Smoothing: Evidence from US Consumer Expenditure Data? Fabrizio Perri Journal of the European Economic Association, Vol. 3 (2-3), pp. 340-350
November 2004
US-Europe Growth Differences: The Role of Education Conference Volume of 32nd Annual Meeting of the Austrian National Bank
November 2004
The Effects of Demographic Changes on Aggregate Savings: Some Implications from the Life Cycle Model CFS Conference Volume: Capital Markets in the Long Term: Demography, Economic Development and Funded Pension Systems
November 2004
Skill-specific rather than General Education: A Reason for US-Europe Growth Differences? Krishna Kumar Journal of Economic Growth, Vol. 9(2), pp. 167-207
February 2004
Economic Inequality and the Emergence of Child Labor Laws Jessica Tjornhom International Economic Review, Vol. 46(3), pp. 785-815
February 2004

US-Europe Differences in Technology-Driven Growth: Quantifying the Role of Education

Appendix with Detailed Characterization of Balanced Growth Path

Krishna Kumar Journal of Monetary Economics, Vol. 51(1), pp. 161-190
July 2003 
On the Welfare Consequences of the Increase in Inequality in the United States Fabrizio Perri 2003 NBER Macro Annual, pp. 83-121
June 2003
Computing Equilibrium in OLG Models with Stochastic Production Felix Kubler Journal of Economic Dynamics and Control, Vol. 28(7), pp. 1411-1436
February 2003
Intergenerational Risk Sharing via Social Security when Financial Markets are Incomplete Felix Kubler American Economic Review, Vol. 92(2), pp. 407-410
January 2002
Social Security with Heterogeneous Agents Juan Carlos Conesa Review of Economic Dynamics, Vol. 2(4), pp. 757-795
April 1998