Research Papers
Working Papers and Work in Progress
“Differences in Euro-Area Household Finances and their Relevance for Monetary-Policy Transmission,” with Thomas Hintermaier, CESifo Working Paper No. 7088, CFS Working Paper No. 637, IZA Discussion Paper No. 12743, University of St.Gallen SEPS Working Paper No. 2018-06. Short video on the broader project “Towards Understanding Differences in European Household Finances.”
“Tax Incentives and Mortgage Amortization,” with Janosch Brenzel-Weiss and Arnau Valladares-Esteban. [Policy brief (also in German)]
Publications
“Opportunity and Inequality across Generations,” with Carlo Zanella, Journal of Public Economics, vol. 208, 104623, 2022. [Replication code]
“On the Transmission of Monetary Policy to the Housing Market,” with Benedikt Lennartz and Marc-Antoine Ramelet, European Economic Review, vol. 145, 104107, 2022. [Policy brief (also in German)]
“Buffer-Stock Saving and Households' Response to Income Shocks,” with Giulio Fella and Serafin Frache, International Economic Review, vol. 61(3), 1359-1382, 2020.
”Household Debt and Crises of Confidence,” with Thomas Hintermaier, Quantitative Economics, vol. 9(3), 1489-1542, 2018. [An accompanying non-technical essay for Vox]
“Human Capital and Optimal Redistribution,” with Julien Prat, Review of Economic Dynamics, vol. 27, 1-26, 2018.
“Debt Portfolios and Homestead Exemptions,” with Thomas Hintermaier, American Economic Journal: Macroeconomics, vol. 8(4), 103-141, 2016.
“Hidden Insurance in a Moral-Hazard Economy,” with Giuseppe Bertola, RAND Journal of Economics, vol. 46(4), 777-790, 2015. [Related previous discussion paper “Public and Private Insurance with Costly Transactions,” CEPR Discussion Paper No. 8062, IZA Discussion Paper No. 5201 and the accompanying non-technical essay for Vox, and for Ökonomenstimme (in German)]
“On the Validity of the First-Order Approach with Moral Hazard and Hidden Assets,” with Giuseppe Bertola, Economics Letters, vol. 124(3), 402-405, 2014.
“On the Evolution of the US Consumer Wealth Distribution,” with Thomas Hintermaier, Review of Economic Dynamics, vol. 14(2), 317-338, 2011.
“The Method of Endogenous Gridpoints with Occasionally Binding Constraints among Endogenous Variables,” with Thomas Hintermaier, Journal of Economic Dynamics & Control, vol. 34(10), 2074-2088, 2010.
“Redistributive Taxation and Personal Bankruptcy in US States,” with Charles Grant, Journal of Law & Economics, vol. 52(3), 445-467, 2009. Web Appendix.
“Consumption Smoothing and Income Redistribution,” with Giuseppe Bertola, European Economic Review, vol. 51(8), 1941-1958, 2007.
“On the Role of Market Insurance in a Dynamic Model,” with Helge Braun, The Geneva Risk and Insurance Review, vol. 32(1), 61-90, 2007.
“Employment Protection, Product Market Regulation and Firm Selection,” with Julien Prat, Economic Journal, vol. 117(521), F302-F332, 2007. [An accompanying non-technical essay on EPL and labor-market turnover for Vox]
“Openness, Wage Floors and Technology Change,” The B.E. Journal of Macroeconomics, Contributions, vol. 7(1), Article 5, 2007.
“Capital Deepening and Wage Differentials: Germany vs. US,” with Marco Leonardi, Economic Policy, vol. 22(49), 71-116, 2007.
“Labor Market Institutions and Wage Inequality,” with Marco Leonardi and Luca Nunziata, Industrial & Labor Relations Review, vol. 60(3), 340-356, 2007.
“On the Use of Substitutability as a Measure of Competition,” with Omar Licandro, The B.E. Journal of Macroeconomics, Topics, vol. 6(1), Article 2, 2006.
“Uncertainty and Debt-Maturity in Emerging Markets,” with Matthieu Bussière and Marcel Fratzscher, The B.E. Journal of Macroeconomics, Topics, vol. 6(1), Article 5, 2006.
“Dismissal Costs and Innovation,” Economics Letters, vol. 88(1), 79-84, 2005.
“Dealer Pricing of Consumer Credit,” with Giuseppe Bertola and Stefan Hochgürtel, International Economic Review, vol. 46(4), 1103-1142, 2005.
“Labor Income Risk and Car Insurance in the UK,” The Geneva Papers on Risk and Insurance Theory, vol. 29(1), 55-74, 2004.