Pre-production Papers

Allowing for ambiguity about the behavior of the policymaker in a simple New-Keynesian model gives rise to wedges between long-run ination expectations, trend ination, and the ination target.

This paper studies how material incentives and social norms shape ethnic identity choices in China. Provincial policies give material benets to minorities, which consequently affect the ethnicity choices for children in ethnically mixed marriages.

People in our experiment choose between two information sources with opposing biases in order to inform their guesses about a binary state. By varying the nature of the bias, we vary whether it is optimal to consult information sources biased towards or against prior beliefs.

Recently developed HANK models, which combine Heterogeneous Agents and New Keynesian frictions, have had a considerable impact on macroeconomics. However, due to the complexity of such models, the literature has focused on numerically solved models and therefore little is known about their general properties.

We use a model of precautionary savings with housing and mortgages to study the effects of a deleveraging shock on consumer spending. We focus on deleveraging caused by a contraction in home values, and compute numerically the partial equilibrium effect of the shock.

We propose a novel experiment that prevents social learning, thus allowing us to disentangle the underlying mechanisms of social influence. Subjects observe their peer’s incentives, but not their behavior.

We study the effects of public pension systems on the retirement timing of older workers and, in turn, the health consequences of delaying retirement by those workers.

We develop a general framework to study source-dependent preferences in economic contexts. We behaviorally identify two key features.

We estimate the effects of in-utero exposure to a trade embargo on survival and human capital in an import-dependent developing country.