We address the question in the title in a heterogeneous-agent incomplete-market model
featuring exogenous idiosyncratic risk, endogenous skill investment, and flexible labor …

We analyze how intergenerational mobility and inequality would change relative to the
status quo if dynasties had access to optimal insurance against low ability of future …

We study the implications of ambiguity for optimal fiscal policy in macro public finance
environments with heterogeneous agents and private idiosyncratic shocks. We describe …

This dissertation studies two questions in dynamic public finance using microeconometric
life-cycle models. The first chapter explores the optimal design of the tax and transfer system …

We consider a small set of axioms for income averaging–recursivity, continuity, and the
boundary condition for the present. These properties yield a unique averaging function that …

This paper studies how labor income taxation interacts with the organization of knowledge
and production, and ultimately the distribution of wages in the economy. A more progressive …

In this paper, we study the optimal design of pension systems that aim at reducing old-age
poverty risk. We argue that a pension scheme that grants subsidies to the earnings poor …

Abstract Notional Defined Contributions (NDC) systems mimic the incentive structure of fully
funded social security while preserving the Pay-as-you-go nature of most current systems …

Do higher wages lead to more labor-saving innovations? And if so, by how much? At a time
of fast technological progress in automation technologies such as robotics and AI and of …

Notional Defined Contributions (NDC) systems mimic the incentive structure of fully funded
social security while preserving the Pay-as-you-go nature of most current systems. We study …