We study the optimal design of means-tested transfers and progressive income taxes. In a
simple analytical model, we show that adding a transfer to a log-linear tax induces welfare …

What is the optimal shape of non-linear income and wealth taxes? We answer this question
using a dynamic general equilibrium model with uninsurable idiosyncratic risk. Our analysis …

Universal basic income (UBI) is an increasingly popular policy proposal, but there is no
evidence regarding its longer-term consequences. We find that UBI generates large welfare …

What are the macroeconomic effects of transfers to households with children? How do
alternative policies fare in welfare terms? We answer these questions in an equilibrium life …

How should the government respond to automation? We study this question in a
heterogeneous agent model that takes worker displacement seriously. We recognize that …

We study optimal fiscal policy in a standard incomplete-markets model with uninsurable
idiosyncratic income risk, where a Ramsey planner chooses time-varying paths of …

Universal basic income (UBI) is an increasingly popular policy proposal but there is no
evidence regarding its longer-term consequences. We find that UBI generates large welfare …

I develop a heterogeneous agents overlapping generations model to assess the welfare
effects of substituting the US income security system with a UBI policy. I study two …

We provide a quantitative evaluation of the impact of Universal Basic Income (UBI) as an
alternative to the existing system of means-tested transfers. We explore varying levels of UBI …

How should the US confront the growing revenue needs driven by higher spending
requirements? We investigate the mix of potential tax increases that generate a given …