We quantify the contribution of women's labor force attachment on the declining trend in interstate migration. Using CPS and SIPP data, we first document that families in which both spouses have similar incomes, the propensity to migrate is significantly lower than in families with unequal...

The Great Recession of 2007-09 was preceded by sustained period of house price growth that ended in a large aggregate decline of house prices. Our paper evaluates quantitatively the extent to which changes in house prices can explain the drop in consumption witnessed during the Great Recession....

This paper studies the quantitative implications of wealth taxation (as opposed to capital income taxation) in an incomplete markets model with return rate heterogeneity across individuals. The key source of heterogeneity comes from the fact that some individuals have better entrepreneurial...

The first part of this paper estimates a set of stochastic processes with increasing generality to capture these salient features of earnings dynamics to provide a reliable "user's guide" for applied economists. In the second part, we examine if these documented features can be explained in a...