Research

Publications:

Thomas Phelan and Keyvan Eslami. Applications of Markov chain approximation methods to optimal control problems in economics. Journal of Economic Dynamics and Control, 143:104437, October 2022. Published version; working paper; replication materials.

Thomas Phelan and Alexis Akira Toda. Optimal epidemic control in equilibrium with imperfect testing and enforcement. Journal of Economic Theory, 206:105570, December 2022. Published version; WP version; replication materials, 

Working papers:

• Time Use and the Efficiency of Heterogeneous Markups (with Brian Albrecht and Nick Pretnar); working paper (November 2023).

• The Art of Temporal Approximation (with Keyvan Eslami); working paper (May 2023); replication materials. 

• On the Optimality of Differential Asset Taxation (Revise and Resubmit, International Economic Review); working paper (September 2022); replication materials.

• The Optimal Taxation of Business Owners; working paper (March 2023); replication materials. 

• NOTE: the implementation with signaling equilibria in the March 2023 version differs from earlier versions which adopted a competitive market structure. As discussed in Appendix E of the updated version, for many parameters competitive equilibria fail to exist.

Federal Reserve Publications:

• Ben R. Craig, Tom Phelan, Jan-Peter Siedlarek, and Jared Steinberg. Improving Epidemic Modeling with Networks. Economic Commentary, (2020-23), September 2020.

• Ben R. Craig, Tom Phelan, Jan-Peter Siedlarek, and Jared Steinberg. Modeling Behavioral Responses to COVID-19. Economic Commentary, (2021-05), March 2021.

• Ben R. Craig, Tom Phelan, Jan-Peter Siedlarek, and Jared Steinberg. Two Approaches to Predicting the Path of the COVID-19 Pandemic: Is One Better? Economic Commentary, (2021-10), April 2021.

• Jordan Manes, Emily Moschini, and Tom Phelan. Student Debt Incidence: Recent Data and Conceptual Issues. Economic Commentary, (2022-16), December 2022. replication materials.