WORKING PAPERS

The evolution of income and wealth inequality in China (coming soon), with Yan Wang

Educational Attainment and Timing of Fertility Decisions (2000)

PUBLICATIONS

Preemptive austerity with rollover risk, with Timothy J. Kehoe

Journal of International Economics 150, 103914, 2024

Replication files can be found here: https://data.mendeley.com/datasets/ghj2df5pws/2 

The cost of trade disruptions at different stages of development, with M. Delventhal, P. Pujolas and G. Raveendranathan

International Economic Review, 12690, 2024

Workers' income risk and the evolution of income inequality in China, with Yan Wang

Economics Letters 234, 111478, 2024

A quantitative evaluation of Universal Basic Income, with Bo Li and Qian Li

       Journal of Public Economics 223, 104881, 2023

Las crisis de refinanciación en los mercados de deuda soberana, with Timothy J. Kehoe

       Cuadernos Económicos de ICE 103, 43-67, 2022

The role of demographics and migration for the future of economic growth in China, with Yan Wang

  European Economic Review 144, 104076, 2022

Welfare implications of switching to consumption taxation, with Bo Li and Qian Li

      Journal of Economic Dynamics and Control 120, 103991, 2020

Implications of increasing college attainment for aging in general equilibrium, with T.J. Kehoe, V.M. Nygaard, and G. Raveendranathan

  European Economic Review 122, 103363, 2020

Capital taxes and redistribution: The role of management time and tax deductible investment, with Begoña Dominguez

  Review of Economic Dynamics 37, 156-172, 2020

The timing of optimal capital income tax reforms: The role of intangible capital investment, with Begoña Dominguez

       SERIEs - Journal of the Spanish Economics Association 10, 419-438, 2019

The Canadian productivity stagnation, 2002-2014, with Pau Pujolas

        Canadian Journal of Economics 52, 561-583, 2019

        An appendix explaining the data used, and the Excel file with the data 

An introduction to the Macroeconomics of aging, with T.J. Kehoe

       The Journal of the Economics of Ageing 11, 1-5, 2018

Macroeconomic effects of Medicare, with D. Costa, P. Kamali, T.J. Kehoe, V.M. Nygaard, G. Raveendranathan, and A. Saxena

       The Journal of the Economics of Ageing 11, 27-40, 2018

Gambling for redemption and self-fulfilling debt crises, with Timothy J. Kehoe

       Economic Theory 64, 707-740, 2017

Productivity, Taxes and Hours Worked in Spain: 1970-2015, with Timothy J. Kehoe

       SERIEs - Journal of the Spanish Economics Association 8, 201-223, 2017

       The Excel file with the data and a document explaining the data 

Intergenerational Policy and the Measurement of Tax Incidence, with Carlos Garriga

      European Economic Review 83, 1-18, 2016.

Is it too late to bail out the troubled countries in the Eurozone?, with Timothy J. Kehoe

       American Economic Review: Papers and Proceedings 104, 88-93, 2014.

Intangible Investment and Ramsey Capital Taxation, with Begoña Domínguez

       Journal of Monetary Economics 60, 983-995, 2013

      Click here for an Appendix with further discussion of the results in this paper

Intertemporal Discounting and Policy Selection, with Carlos Garriga

       Federal Reserve Bank of St Louis Review 95(2), 165-180, 2013.

Chronic Sovereign Debt Crises in the Eurozone, 2010-2012, with Cristina Arellano and Timothy J. Kehoe

       Federal Reserve Bank of Minneapolis Economic Policy Paper, 12-4, 2012.

       The data, and the description of the data

A Primer on Social Security Systems and Reforms, with Craig P. Aubuchon and Carlos Garriga

      Federal Reserve Bank of St Louis Review 93, 19-36, 2011.

Taxing Capital? Not a Bad Idea After All!, with Sagiri Kitao and Dirk Krueger

        American Economic Review 99, 25-48, 2009.

        Click here for an Appendix with further discussion of the results in this paper

Optimal Response to a Transitory Demographic Shock in Social Security Financing, with Carlos Garriga        

       Federal Reserve Bank of St Louis Review 91, 33-48, 2009.    

Optimal Fiscal Policy in the Design of Social Security Reforms, with Carlos Garriga

       International Economic Review 49, 291-318, 2008.

Optimal Response to a Transitory Demographic Shock, with Carlos Garriga

      De Menil, G., R. Fenge and P. Pestieau eds., Pension Strategies in Europe and the United States, CESifo - MIT Press, 87-113, 2008.

Modelling Great Depressions: The Depression in Finland in the 1990’s, with Timothy J. Kehoe and Kim J. Ruhl

      Federal Reserve Bank of Minneapolis Quarterly Review 31, 16-44, 2007.

      Also in Kehoe T.J. and E.C. Prescott eds, Great Depressions of the Twentieth Century, Federal Reserve Bank of Minneapolis, 2007.

      The data of the paper, and the description of the data

On the Optimal Progressivity of the Income Tax Code, with Dirk Krueger

      Journal of Monetary Economics 53, 1425-1450, 2006.

The Status Quo Problem in Social Security Reform, with Carlos Garriga

      Macroeconomic Dynamics 7, 691-710, 2003.

Explaining Cross-Country Differences in Participation Rates and Aggregate Fluctuations, with Carlos Díaz Moreno and José Galdón Sánchez

      Journal of Economic Dynamics and Control 26, 333-345, 2002.

Underground Economy and Aggregate Fluctuations, with Carlos Díaz Moreno and José Galdón Sánchez

      Spanish Economic Review 3, 41-53, 2001.

Reforma del Sistema de Seguridad Social y Adquisición de Formación, with Carlos Garriga

      Investigaciones Económicas 24, 271-295, 2000.

La financiación del sistema de Seguridad Social en España: efectos dinámicos de una posible reforma, with Carlos Garriga

      Hacienda Pública Española XXX, 113-126, 2000.

Sistema Fiscal y Reforma de la Seguridad Social, with Carlos Garriga

      Cuadernos Económicos de ICE 65, 117-132, 1999.

Social Security Reform with Heterogeneous Agents, with Dirk Krueger

     Review of Economic Dynamics 2, 757-795, 1999.