• Publications
  • Influence
A Model of the Consumption Response to Fiscal Stimulus Payments
A wide body of empirical evidence, based on randomized experiments, finds that 20-40 percent of fiscal stimulus payments (e.g. tax rebates) are spent on non-durable household consumption in theExpand
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Monetary Policy According to HANK
We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions ofExpand
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How Much Consumption Insurance Beyond Self-Insurance?
We assess the degree of consumption smoothing implicit in a calibrated life-cycle version of the standard incomplete-markets model, and we compare it to the empirical estimates of Blundell et al.Expand
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Moving Back Home: Insurance against Labor Market Risk
  • G. Kaplan
  • Economics
  • Journal of Political Economy
  • 1 June 2012
This paper demonstrates that the option to move in and out of the parental home is a valuable insurance channel against labor market risk, which facilitates the pursuit of jobs with the potential forExpand
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Inequality and the life cycle
I structurally estimate an incomplete markets life-cycle model with endogenous labor supply using data on the joint distribution of wages, hours, and consump- tion. The model is successful atExpand
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The Housing Boom and Bust: Model Meets Evidence
We build a model of the U.S. economy with multiple aggregate shocks (income, housing finance conditions, and beliefs about future housing demand) that generate fluctuations in equilibrium houseExpand
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The Morphology of Price Dispersion
This paper is a study of the shape and structure of the distribution of prices at which an identical good is sold in a given market and time period. We find that the typical price distribution isExpand
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Non-Durable Consumption and Housing Net Worth in the Great Recession: Evidence from Easily Accessible Data
In an influential paper, Mian, Rao and Sufi (2013) exploit geographic variation in housing supply elasticities to measure the effect of changes in the housing share of net worth on total householdExpand
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Lifetime Incomes in the United States Over Six Decades
Using panel data on individual labor income histories from 1957 to 2013, we document two empirical facts about the distribution of lifetime income in the United States. First, from the cohort thatExpand
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Interstate Migration Has Fallen Less Than You Think: Consequences of Hot Deck Imputation in the Current Population Survey
We show that much of the recent reported decrease in interstate migration is a statistical artifact. Before 2006, the Census Bureau’s imputation procedure for dealing with missing data in the CurrentExpand
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