I am a postdoctoral Research Fellow (Macroeconomics) at the Munich Research Institute for the Economics of Aging and SHARE Analyses (MEA-SHARE) in Munich, Germany.

Curriculum Vitae  

d.koo@mea-share.eu

Linkedin 

Research

Research Interests

• Macroeconomics, Intergenerational transfers, Wealth distribution, inequality, housing, population aging.

 Working Paper

Title: Inherited Access: Early Generational-Skipping Transfers and the Persistence of Top Wealth (This version: Aug, 2026).

Abstract: 

The U.S. taxes bequests with two instruments, an estate and a generation-skipping transfers (GST) tax. I build a life-cycle model to study how these transfers sustain top wealth, and how taxes shape that persistence. The model has two distinctive features: high returns require a financial capability that a large early inheritance switches on, and dynasties may transfer directly to grandchildren, a margin the GST tax regulates. The link raises the probability a wealthy grandchild reaches the top 1 percent to 62 percent, barely moving the Gini. The exemption governs persistence, the rate governs concentration, and every relaxation lowers newborn welfare.

Works in progress

Title: Demographics and Real Interest Rates: The Role of Intergenerational Transfers (This version: April, 2022).

Abstract: This paper attempts to study how demographic changes affect real interest rates. An aging population has been considered as a natural candidate for the downward trend in real interest rates around the world. Survey data indicates that older households have strong bequest motives, and younger households anticipate these bequests. When calibrated to the U.S. data, I find that the decline in real rates since 1990 due to aging has been much weaker than expected. While an aging population does put downward pressure on real rates, the results suggest that this effect is not as severe as previously thought.

Title: Population Aging and House Prices (This version: Jan, 2020).

Teaching

Teaching Assistance at University of Melbourne

• ECON90003 Macroeconomics (PhD/Master Course), 2019 - 2021

• ECON30009 Macroeconomics (Undergraduate Course), 2018 - 2022

• ECON30005 Money and Banking (Undergraduate Course), 2017 - 2024