Research

Work in Progress

Fairness in Consumer Credit Markets. Joint with Domonkos F. Vamossy and Serena Wang. SLIDES

Credit Standards and Homeownership of Young Households in the Aftermath of the Great Recession . Joint with Jialin Huo.

Delayed American Dream? Student Debt, Family Formation and Homeownership. Joint with Rania Gihleb and Ning Zhang. SLIDES

Working Papers

New Technologies and Jobs in Europe. Joint with Antonio Dias da Silva, Juan F. Jimeno, Ana Lamo and Alena Wabitsch. June 2023. NBER WP 31357, CEPR DP 18220, SSRN. Media: Wired

Boomerang College Kids: Unemployment, Job Mismatch and Coresidence. Joint with Rania Gihleb and Ning Zhang. August 2022. NBER WP 30397 DRAFT SLIDES VoxEU Column

Slowing Women's Labor Force Participation: The Role of Rising Income Inequality. Joint with Maria Prados. January 2022 (first version 2014). DRAFT SLIDES NBER WP 29675 CEPR DP 19620 Media: Reuters, WSJ, Globe and Mail, The Fiscal Times

Predicting Consumer Default: A Deep Learning Approach. Joint with Domonkos F. Vamossy. DRAFT, August 2019 (first draft April 2018). NBER WP 26165 CEPR DP 13914 SLIDES VoxEU podcast HCEO Research Spotlight

Changing Business Cycles: The Role of Women's Employment. UPDATED DRAFT January 2020 (first draft June 2017). SLIDES NBER WP 25655 CEPR DP 13578 VoxEU column Part of the analysis in this paper first appeared here. Also see this related FRBNY LSE piece.

Insolvency after the 2005 Bankruptcy Reform. Joint with Jaromir Nosal. UPDATED DRAFT (June 2020). NBER WP 24934 (July 2018), CEPR DP 10533. SLIDES Media: The Economist, WSJ, ProPublica/Washington Post article largely based on this research

Published and Forthcoming Research

Families, Labor Markets and Policies. Joint with Claudia Olivetti and Barbara Petrongolo. Handbook of the Economics of the Family, Elsevier. Edited by Shelly Lundberg and Alessandra Voena, April 2023. NBER WP 30685 CEP Centerpiece Article

Credit Growth and the Financial Crisis: A New Narrative. Joint with Giacomo De Giorgi and Jaromir Nosal. Journal of Monetary Economics 132 (2022),: 118-139. UPDATED DRAFT (September 2022) SLIDES NBER WP 23740, CEPR DP 12230 Media: NPR All Things Considered, Quartz, BloombergMarkets, Yahoo Finance, LiveMint, Reuters

A New Narrative of Investors, Subprime Lending and the 2008 Crisis. November 2022. In "Leveraged: A New Economics of Debt and Financial Fragility." Edited by Moritz Schularick. Chicago University Press. SLIDES Video presentation from INET Private Debt Initiative Second Annual Conference. Working paper version (August 2019)

Effects of the Covid-19 Recession on the US Labor Markets: Occupation, Family and Gender. Joint with Jiyeon Kim. Journal of Economic Perspectives Vol. 35 No. 3, Summer 2021. Working paper version: CEPR DP15838 NBER WP 28505 Video

The Gender Unemployment Gap. Joint with Aysegul Sahin. Review of Economic Dynamics 30 (2018): 47-67. Replication Materials, Online Appendix SLIDES Working paper version: NBER WP 23743. Media: Pew Research Center

Gender Roles and Medical Progress. Joint with Claudia Olivetti. The Journal of Political Economy, June 2016. Working paper version: NBER WP 14873

Gender And Dynamic Agency: Theory and Evidence on the Compensation of Top Executives. Joint with Claudia Olivetti and Maria Prados. Research in Labor Economics 42:1-60, 2015. Media: NY Times, NY Times, Bloomberg News, Slate, Washington Post, Harvard Business Review, FiveThirtyEight

Maternal Health and the Baby Boom. Joint with Claudia Olivetti. Quantitative Economics 5(2): 225-269. July 2014. Working paper version: NBER WP 16146

Intertemporal Distortions in the Second Best. Joint with Roc Armenter. The Review of Economic Studies 79: 1271-1307, 2012 (lead article). APPENDIX, SLIDES

Home Production, Market Production and the Gender Wage Gap: Incentives and Expectations. Joint with Claudia Olivetti. Review of Economic Dynamics 12: 80–107, January 2009. Working paper version: NBER WP12212, CEPR DP 4984

Inflation and Inequality. Journal of Monetary Economics Volume 54:4, May 2007. APPENDIX Working paper version: CEPR DP 3470

Dynamic Optimal Taxation with Private Information. Joint with Christopher Sleet. The Review of Economic Studies, Vol. 73: 1-30, 2006 (lead article). SUPPLEMENT

Expectation Traps and Monetary Policy. Joint with V.V. Chari and Lawrence Christiano. The Review of Economic Studies, Vol. 70: 715-741. October 2003.

How Severe is the Time Inconsistency Problem in Monetary Policy. Joint with V.V. Chari and Lawrence Christiano. In Advances in Economic Theory and Econometrics, edited by Mathias Dewatripont, Lars P. Hansen and Stephen Turnovsky, 2002. Working paper version: NBER WP 8139

Published Comments

Comment on "Understanding the economic impact of COVID-19 on women," by Claudia Goldin. Forthcoming 2022, Brookings Papers on Economic Activity. ARTICLE, SLIDES Link to BPEA page with all materials and video presentation

Redistribution and Optimal Monetary Policy: Results and Open Questions. Rivista di Politica Economica (Invited Essay), May 2008. ARTICLE

Social Insurance. The New Palgrave Dictionary of Economics and Law (2nd ed.), Steven N. Durlauf and Lawrence Blume (editors), London: Palgrave MacMillan Limited, 2008. ARTICLE

Comment on “Marriage and Divorce since WWII: Analyzing the Role of Technological Progress on the Formation of Households,” by Jeremy Greenwood and Nezih Guner. NBER Macroeconomics Annual 2008, Volume 23, edited by Daron Acemoglu, Kenneth Rogoff and Michael Woodford, MIT Press, forthcoming. ARTICLE, SLIDES

Comment on “Markets Versus Governments,” by Acemoglu, Golosov and Tsyvinski. Journal of Monetary Economics, October 2007. ARTICLE, SLIDES

Comment on “Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach,” by Pierpaolo Benigno and Michael Woodford. NBER Macroeconomics Annual 2003, Volume 18, edited by Mark Gertler and Kenneth Rogoff, MIT Press. ARTICLE

Comment on "The Costs of Losing Monetary Independence: The Case of Mexico" by Thomas Cooley and Vincenzo Quadrini. Joint with Lawrence J. Christiano. Journal of Money, Credit and Banking, May 2001, No.2. ARTICLE

Presentations

Household Insurance and The Macroeconomic Impact of the Novel Corona Virus. Joint with Rania Gihleb, Jiyeon Kim and Jialin Huo. June 2020 SLIDES

Investors and the 2007-2009 Housing Crisis: An Anatomy. September 2018. SLIDES

Older papers

Optimal Taxation of Entrepreneurial Capital with Private Information. January 2011 (first version November 2005). DRAFT Revision requested, Journal of Economic Theory

Maternal Health and Fertility: An International Perspective. October 2012. Manuscript under review. SLIDES Related study in World Development Report Background Paper Series

Understanding Capital Taxation in Ramsey Models. Joint with Roc Armenter. December 2007. MANUSCRIPT

Optimal and Time Consistent Monetary and Fiscal Policy with Heterogeneous Agents. March 2005. MANUSCRIPT Older version: CEPR DP 3713

All files in PDF format.