During the last three decades government debt has increased in most developed countries.
During the same period we have also observed a significant liberalization of international …

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Income tax in the US has become less progressive since the late 1970s in spite of rising
income inequality. Why? Modeling policy makers as a Ramsey government that may weight …

Countries with greater inequality typically exhibit less support for redistribution and greater
acceptance of inequality (eg, US versus Western Europe). If individual nations evolve along …

Infrequent but turbulent sovereign defaults on domestic creditors were a “forgotten history” in
macroeconomics. We propose a Bewley model in which the government chooses debt and …

The aim of the paper is to investigate the link between public debt and income inequalities.
We use the panel data of OECD countries in 1995–2014, on which we employ random …

We construct a transition analysis based on a general equilibrium life‐cycle model to
investigate the effects of aging, and we evaluate various policy alternatives designed to …

How did the US government preferences over income redistribution across generations and
within generations change during 1980–2010? Using a rich quantitative model in which a …

Infrequent but turbulent episodes of outright sovereign default on domestic creditors are
considered a “forgotten history” in Macroeconomics. We propose a heterogeneous-agents …

An accessible description of modern macroeconomics, and a defense of its policy relevance.
Macroeconomists have been caricatured either as credulous savants in love with the beauty …