The paper asks whether inflationary shocks are regressive, and demonstrates that the answer depends critically on the source of the shock. A single aggregate inflation statistic conceals radically …
This 2006 *American Economic Review* paper (circulated as NBER Working Paper 10592, June 2004) asks a question its own abstract answers in one word -- "Yes" -- are technology improvements …
PublishedClassicQuarterly Journal of EconomicsPublished Aug 2017
This 2017 *Quarterly Journal of Economics* paper (circulated as NBER Working Paper 17583, November 2011) asks how an economy adjusts when households' ability to borrow is suddenly and permanently …
Sorting about 3,700 annual observations from 44 countries over roughly two centuries into four debt-to-GDP buckets, the authors find little relationship between public debt and growth below 90 percent …
Online FirstReview of Economic StudiesOnline 4 Jun 2026
This paper asks whether managers are paid for market power. Bao, De Loecker, and Eeckhout build a general equilibrium model in which firms compete oligopolistically in goods markets (following Atkeson …
Can minimum wages improve welfare through efficiency — by correcting monopsony-driven under-employment — and, if so, by how much? What is the optimal minimum wage, and how much of the welfare gain …
Online FirstJournal of Money, Credit and BankingOnline 28 Jul 2026
This paper asks how population aging changes the distribution of income and wealth, using a continuous-time overlapping-generations model in which persistent growth in per capita income is sustained …
This review organizes the quantitative macroeconomics literature on household heterogeneity around the "standard incomplete markets" model, asking what sources of individual risk matter most, what …