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(Journal article / Tidsskriftartikkel / PublishedVersion; Peer reviewed, 2019)
We construct a dynamic theory of sovereign debt and structural reforms with limited enforcement and moral hazard. A sovereign country in recession wishes to smooth consumption. It can also undertake costly reforms to speed ...
(Journal article / Tidsskriftartikkel / AcceptedVersion; Peer reviewed, 2017)
We study the impact of the rise in female labor supply on the economic performance of the United States over the period 1967–2002 through the lens of a calibrated structural model. The model features all the key forces ...
(Journal article / Tidsskriftartikkel / PublishedVersion; Peer reviewed, 2019)
Securing open access to research will not remove the fundamental problem that commercial publishers have substantial market power. Thus, even if Plan S is successful, large commercial publishers are likely to put financial ...
(Journal article / Tidsskriftartikkel / PublishedVersion; Peer reviewed, 2020)
We address the question in the title in a heterogeneous-agent incomplete-market model featuring exogenous idiosyncratic risk, endogenous skill investment, and flexible labor supply. The tax and transfer schedule is restricted ...
(Journal article / Tidsskriftartikkel / AcceptedVersion; Peer reviewed, 2015)
We analyze intergenerational redistribution in emerging economies with the aid of an overlapping generations model with endogenous labor supply. Growth is initially high but declines over time. A version of the model ...
(Journal article / Tidsskriftartikkel / AcceptedVersion; Peer reviewed, 2017)
What shapes the optimal degree of progressivity of the tax and transfer system? On the one hand, a progressive tax system can counteract inequality in initial conditions and substitute for imperfect private insurance against ...
(Journal article / Tidsskriftartikkel / AcceptedVersion; Peer reviewed, 2014)
We develop a model with partial insurance against idiosyncratic wage shocks to quantify risk sharing. Closed-form solutions are obtained for equilibrium allocations and for moments of the joint distribution of consumption, ...
(Journal article / Tidsskriftartikkel / AcceptedVersion; Peer reviewed, 2023)
This paper examines whether nonlinear and non-Gaussian features of earnings dynamics are caused by hours or hourly wages. Our findings from the Norwegian administrative and survey data are as follows: (i) Nonlinear mean ...