Publications

“The Cost of Greening Stimulus: A Dynamic Discrete Analysis of Vehicle Scrappage Programs,” (with Shanjun Li and Youming Liu), International Economic Review, November 2022, 63(4), pp 1561-1595.

"Grey Divorce and Labor Supply," (with Sita Slavov), Applied Economic Letters, 2021, DOI: 10.1080/13504851.2021.1975026

"Unemployment or Out of the Labor Force: A Perspective from Time Allocation," (with Chen Song), Labour Economics, 2019, 61, 101768.

"Travel Time Use over Five Decades," (with Chen Song), Transportation Research Part A, 2018, 116, pp. 73-96.

“A Dynamic General Equilibrium Model of Driving, Gasoline Use and Vehicle Fuel Efficiency,” Review of Economic Dynamics, 2013, 16(4), pp. 650-667.

“The Marginal Welfare Cost of Capital Taxation: Discounting Matters,” (with Marika Santoro), Journal of Economic Dynamics and Control, 2013, 37(4), pp. 897-909.

“Taxation, Investment, and Asset Pricing,” (with Marika Santoro), Review of Economic Dynamics, 2011, 14(3), pp. 443-454.

“Inflation Illusion or No Illusion: What Did Pre- and Post-War Data Say?” (with Fred Joutz), Applied Financial Economics, 2011, 21, pp. 1599-1603.

"Inflation and Stock Prices: No Illusion," Journal of Money, Credit and Banking, March-April 2010, 42(2-3), pp. 325-346.

“A Note on the Impact of Progressive Dividend Taxation on Investment Decisions,” (with Marika Santoro), Macroeconomic Dynamics, 2012, 16, pp. 309-319, DOI: 10.1017/S1365100509990964

"Does the Stock Market React to Unexpected Inflation Differently Across Business Cycles?" Applied Financial Economics), December 2009, 19 (24), pp. 1947-1959.

"A Quartet of Asset Pricing Models in Nominal and Real Economies," Journal of Economic Dynamics and Control, 2009, 33, pp. 154-165.

"Energy, the Stock Market and the Putty-Clay Investment Model," American Economic Review, March 2003, 93(1), pp. 311-324.

• "Energy, the Stock Market and the Putty-Clay Investment Model," ( pdf ), an old version, revised March 26th, 2001. This version contains a cross-industry event study that shows that the energy-intensive industries were not the ones which suffered the greatest declines in the market value in 1974. This result was cited by Hobijn and Jovanovic (AER 2001).

" Income Equality and Redistribution in Five Countries ," (with Christina De Nardi and Liqian Ren), Federal Reserve Bank of Chicago Economic Perspectives, Second Quarter, 2000.