Publications

* Heterogeneous Scarring Effects of Full-Year Nonemployment
     (with Fatih Guvenen
Fatih Karahan and Jae Song
    AER P&P, May 2017, Vol. 107(5), Pg. 369-373
     

* The Nature of Countercyclical Income Risk
     (with Fatih Guvenen and Jae Song)
    Journal of Political Economy2014, Vol. 122, No. 3, Pg. 621-660 

   Paper   Working Paper  FEDS Notes  NBER Digest    Bloomberg Article    Business Insider Article

    Web Appendices:  Appendix A: Data   Appendix B: Sensitivity Analysis    Appendix C: Parametric Estimation

    Tables and Data in Appendices in Excel Format


* Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis
      
(with Fatih Guvenen and Burhanettin Kuruscu)

    Review of Economic Studies2014, Vol. 81, Pg. 818-850 

   Paper   Code&Data   Working Paper   Summary in the Region Magazine    Forbes Article


* On the Persistence of Income Shocks over the Life Cycle: Evidence, Theory, and Implications
    (with Fatih Karahan)
    Review of Economic Dynamics, 2013, Vol. 16, Issue 3, Pg. 452-476

  Paper   Code&Data    Working Paper    



Working Papers

* What Do Data on Millions of U.S. Workers Say About Life Cycle Labor Income Risk?  
   (with Fatih Guvenen, Fatih Karahan, and Jae Song 
   Paper REVISED DRAFT (Aug 3, 2016)
    
    Data Appendix: Moments For Men (reported in the manuscript)  Moments For Women (not reported in the manuscript)
    Older Version (based on wage/salary income over 1978-2013): Paper  Data Appendix
    A nontechnical summary blog post: VoxEU
    Media Coverage:

*
Preventive vs. Curative Medicine: A Macroeconomic Analysis of Health Care over the Life Cycle
   
Revision requested by Review of Economic Studies
    (An earlier version of this paper was circulated under the title “Income Differences and Health Care Expenditures over the Life Cycle.”

   Abstract    Paper



Work In Progress

* Sources of Inequality in Earnings Growth Over the Life Cycle
   (with Fatih Karahanand Jae Song
* Monetary Policy, Heterogeneity and Housing Channel
   (with Aaron Hedlund Kurt Mitman  and Fatih Karahan 
* The Distributions of Income and Consumption Risk: Evidence from Norwegian Registry Data
   (with Elin Halvorsen Hans Holter  and Kjetil Storesltetten 
* Rating Credit: The Value of Unsecured Debt
   (with Grey Gordon and Fatih Karahan 
* Implications of Higher-Order Moments in Income Dynamics on Portfolio Choice over the Life Cycle
   (with Fatih Karahan