Embedded Files
Research Papers
Research Papers
Optimal Wealth Tax
Opt. Tax. Formula depends on elaasticity of wages and returns to productivityOptimal Wealth Tax
Wealth Distribution
Wealth taxes increase dispersion of returns -> Higher wealth inequality (top+bottom)Wealth Distribution
Robust Measures of Inflation 1960-2020
Robust Measures of Inflation 1960-2020
Sensitivity of Median Inflation
Yearly vs Montly MeasuresSensitivity of Median Inflation
Sensitivity of Trimmed Mean Inflation
Yearly vs Montly MeasuresSensitivity of Trimmed Mean Inflation
Occcupations are Bundles of Tasks
Tasks (y) assigned to workers (x)Tasks and workers characterized by skills Occcupations are Bundles of Tasks
Automation and Task Displacement
Replace workers at tasks along boundaries of occupations (red area) triggering reassignment of tasks shifting boundariesAutomation and Task Displacement
Unassigned Tasks
Taks are left unassigned (gray areas) when workers are not productive enoughPosibility to increase task coverage with automationUnassigned Tasks
Published Papers
Published Papers
Use it or lose it: Efficiency and redistributional effects of wealth taxation [The Quarterly Journal of Economics, 2023]
Use it or lose it: Efficiency and redistributional effects of wealth taxation [The Quarterly Journal of Economics, 2023]
with Fatih Guvenen, Gueorgui Kambourov, Burhan Kuruscu and Daphne Chen (Open access version, NBER working paper version, 🧵)
Coverage: Financial Times (Free Lunch, Article), The Economist (Article), Bloomberg (2016, 2019), St. Louis Fed (interview with Fatih Guvenen), Observatorio Fiscal (Online OpEd)
Share of Self-Employment Across Countries
Self-employment rates decrease along the development pathShare of Self-Employment Across Countries
Share of Self-Employment Across Earnings Distribution
Self-employment rate follows a U-shaped pattern on earnings. Self-employment is higher among the lowest and highest earners.Share of Self-Employment Across Earnings Distribution
Model Matches Joint Dist. of Self-Employment and Earnings
The baseline model with unemployment risk generates U-shaped pattern. Model without unemployment risk does not.Model Matches Joint Dist. of Self-Employment and Earnings
Occupational Choice of the Unemployed
Low-earning self-employed originate in subsistence concerns of unemployed agents. Poor unemployed become self-employed regardless of their productivityOccupational Choice of the Unemployed
Retail Concentration 1992-2012
Retail concentration has increased at the national and local levelNational concentration accelerates in 1997 - Local concentration does notRetail Concentration 1992-2012
Change in Local HHI by Product
Increase in local concentration happens across productsChange in Local HHI by Product
Distribution of Commuting-Zones by change of HHI
69% of local markets (commuting zones) have increased concentration 92-02Distribution of Commuting-Zones by change of HHI
Expected Payoffs under Arbitrary Contracts
Expected Payoffs under Arbitrary Contracts
vs LRS Contracts
vs LRS Contracts
Increase in Guaranteed Payoffs from
Increase in Guaranteed Payoffs from
LRS Contracts
LRS Contracts
Work from before my PhD
Work from before my PhD
Articles
2013 “Output gap and neutral interest measures for Colombia”, With Andrés González, Diego Rodríguez and Julian Pérez, Monetaria, Vol. 1, No. 2, pp. 231-286, Center for Latin American Monetary Studies (CEMLA). http://www.cemla.org/PDF/monetaria/PUB-MON-I-02.pdf
2012 “An Introductory Review of a Structural VAR-X Estimation and Applications”, With Norberto Rodríguez, Colombian Journal of Statistics, Vol 35, No. 3, pp. 479-508, Universidad Nacional de Colombia. http://www.redalyc.org/articulo.oa?id=89925367003
2012 “Asimetrías del empleo y el producto, una aproximación de equilibrio general” (Asymmetries of the employment-output relation, a general equilibrium approach), With Andrés González, Diego Rodríguez and Norberto Rodríguez, Revista Ensayos sobre Política Económica (ESPE), Vol. 30, No. 68, pp. 46-81, Banco de la República. http://www.banrep.gov.co/sites/default/files/publicaciones/archivos/espe_art5_68.pdf
2011 “Choques, instituciones laborales y desempleo en Colombia” (Shocks, institutions and unem- ployment in Colombia), Whit Juan José Echavarría, Enrique López and Norberto Rodríguez, Revista Ensayos sobre Política Económica (ESPE), Vol. 29, No. 66, pp. 128-173, Banco de la República. http://www.banrep.gov.co/docum/ensayos/pdf/espe_art4_66.pdf
Old Working Papers
2013 "Rule of Thumb Consumers, Nominal Rigidities and the Design of Interest Rate Rules", IDB Working Paper Series, No. IDB-WP-400, Inter American Development Bank.
2012 “A model of Rule-of-Thumb consumers with nominal price and wage rigidities”, Borradores de Economía, No. 707, Banco de la República. http://www.banrep.gov.co/docum/ftp/be_707.pdf
2012 “Introducción de fricciones en el mercado laboral en modelos DSGE” (Introducing labor market frictions in DSGE Models), Vniversitas Economicas, No. 010007, Economics Department, Pontificia Universidad Javeriana. http://www.javeriana.edu.co/fcea/coleccion_universitas_Economica/Vol_12/Vol.12_5_2012.pdf
2011 “Agentes no ricardianos y rigideces nominales: su efecto sobre el principio de Taylor” (Rule- of-Thumb consumers and nominal rigidities: their effect over the Taylor principle), Vniversitas Economicas, No. 008302, Economics Department, Pontificia Universidad Javeriana. http://www.javeriana.edu.co/fcea/coleccion_universitas_Economica/Vol_11/Vol.11_3_2011.pdf
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