Research

Publications

Shareholders Tax Cuts with Household and Firm Heterogeneity (with O. E. Atesagaoglu), Finance Research Letters, 2023, vol. 57, https://doi.org/10.1016/j.frl.2023.10417. This is a substantially shortened version of our earlier working paper which includes additional details.

Cross-Country Stock Market Comovement: A Macro Perspective (with O. E. Atesagaoglu, E. Faraglia and C. Giannitsarou), Journal of Monetary Economics, 2022, https://doi.org/10.1016/j.jmoneco.2022.05.005. Click here for the online appendix.

Financing Corporate Tax Cuts with Shareholder Taxes (with O. E. Atesagaoglu and Eva Cárceles-Poveda), Quantitative Economics, 2022, vol. 13 (1), pp. 315-354. Previously circulated as "On the Double Taxation of Corporate Profits". Click here for the online appendix. 

Value-Preserving Welfare Weights for Social Optimization Problems (with Eva Cárceles-Poveda and Y. Tauman), International Economic Review, 2021, vol. 62 (4), pp. 1627 - 1653. Click here for online appendix.

External Debt Evolution when Global Financial Markets are Incomplete (with G. Siourounis), in A Financial Crisis Manual: Reflections and the Road Ahead, Palgrave McMillan 2015.

Evaluating Linear Approximations in a Two-Country Model with Occasionally Binding Borrowing Constraints (with Xin Tang), The BE Journal of Macroeconomics, vol. 15 (1), January 2015. A substantially revised version of the older paper "Consumption and Debt Dynamics with Rarely Binding Borrowing Constraints". An appendix providing first and second order perturbation solutions to the model and proving the results in the paper is here.

Skill-Biased Technological Change and Homeownership (with O. E. Atesagaoglu and Eva Cárceles-Poveda), Journal of Economic Dynamics and Control, 2013, vol. 37, pp. 3012-3033.

Indeterminacy and Period Length under Balanced Budget Rules (with C. Giannitsarou), Macroeconomic Dynamics, 2013, vol. 17, issue 04,  pp 898-919.

Consumption Taxes and Precautionary Savings (with Qian Li), Economics Letters, 2013, vol. 119, pp. 238-242.

Dividend and Capital Gains Taxation under Incomplete Markets (with Eva Cárceles-Poveda and D. Lin), Journal of Monetary Economics, vol. 59 (7), November 2012, pp. 599-611. Click here for extended version.

An Evolutionary Theory of Inflation Inertia (with O. Licandro, I. Bove and K. Schlag), Journal of the European Economic Association P&P, April-May 2007, Vol. 5, No. 2-3, pp. 433-443.

Working papers

Technology Capital and the Taxation of Multinational Corporations (with O. E. Atesagaoglu).

Equity Issuance and Dividend Policy under Commitment (with Eva Cárceles-Poveda and A. Marcet).

Potential Welfare Losses from Financial Autarky versus Trade Sanctions.

Work In Progress

Bankruptcy and Housing  (with  Eva Cárceles-Poveda and X. Mateos-Planas).

The Dynamic Firm Under Shareholder Disagreement, with Eva Cárceles-Poveda and Gabriel Mihalache.