Peer-reviewed publications
Business Equity and Wealth Inequality in Central and Eastern Europe, Comparative Economic Studies, 2024.
Behavioral Responses to Wealth Taxes: Evidence from the Spanish Survey of Household Finances, Economics Letters, 2023, Vol. 223 (with Bernd Süssmuth)
Taxing the Digital Economy: Challenges in the European Union, Sanford Journal of Public Policy, 2017.
Youth Unemployment in Kosovo: Policy and Governance, The Journal of International Policy Solutions, Volume XX, University of San Diego, 2018.
Ongoing projects and working papers
Capital and crises, 1870-2020
An analysis of the relationship between wealth accumulation/inequality and the probability of financial crises and asset price bubbles.
A tale of two rates: Return on capital, economic growth, and wealth concentration in the long run (submitted)
This papers analyzes how the difference between the rate of return on capital r and economic growth g affects wealth concentration. Using historical data from 16 developed countries spanning from 1870 to 2020, we employ first-difference generalized least squares estimators to find that an increase in the gap between r and g leads to a higher private wealth-income ratio and higher concentration of wealth at the top 1%. We also find evidence for the effect of heterogeneous wealth returns with housing and bills being important drivers for the overall private wealth accumulation and equity being the main asset that increases the wealth of the wealthiest. Conversely, we find that an increase in wealth accumulation leads to a decrease in the rate of return on wealth, and that, after accounting for ideology, wealth inequality affects economic growth negatively.
David trades with Goliath: Welfare and trade effects of an FTA between asymmetric countries
This paper analyzes the welfare and trade effects of an FTA between a small (Kosova) and a large (Turkey) country. Using a partial equilibrium model, we simulate ex ante changes in producer and consumer surplus, tariff revenue, and trade balance, at the industry level. Our simulations show that the effect in the small country is expected to be a small loss in producer surplus but a much higher gain in consumer surplus. This is true across all industries, but especially in those that make up the largest share of imports, such as textiles, food, and machinery. However, due to a higher loss in tariff revenue, we estimate an aggregate net welfare loss of 0.1% of GDP. Compared to the actual data from the first three years of the implementation of the FTA, we find that our estimates approximate well changes in exports but underestimate the magnitude of change in the trade deficit and the tariff revenue loss.
Policy papers
Limitations and prospects of economic relations between the Republic of Kosova and Serbia, Friedrich Ebert Stiftung (FES), 2022.
The Big Picture: A progressive economic agenda for Kosovo, Friedrich Ebert Stiftung (FES), 2022 (with Dita Dobranja, Dina Vllasaliu, Lule Bahtiri, and Mimozë Veliu).
Economic effects of COVID19: An analysis of the private sector in Kosovo, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, 2021 (with Dina Vllasaliu, Lule Bahtiri, Iliriana Shala, Sovran Berisha, Tringa Krasniqi, and Blerta Greiçevci).
Taxing the digital economy - It's complicated, The Brookings Institution, 2017.