This paper constructs a static Applied General Equilibrium Model and analyzes the distributional impact of trade reforms. To calibrate our model, we work with the Household Expenditure Survey to disaggregate household groups by income, age, and skill intensity, and the Input-Output table to...

We analyze the changes in the composition of bilateral trade--and more specifically, inthe new goods margin--following the free trade agreements (FTAs) signed by Koreabetween 2004 and 2008. We find that new goods trade increased disproportionatelyafter the FTAs came into effect, and that...

In this article, we disentangle the relationship between the skill premium, trade liberalization and productivity changes in accounting for the skill premium patterns of transition economies that joined the European Union (EU) in 2004. To conduct our analysis, we construct an applied general...

Several targeted welfare programs across the world have made owner-occupied housing exempt from the means test, such as the Supplementary Social Income (SSI) in the US and the age pension scheme in Australia. Relatively little is known about the impact of such exemption on household portfolio...

This paper constructs a quantitative general equilibrium model with both lifecycle and dynastic features along with uninsurable labor income to assess differences in wealth and intergenerational transfers across countries. The model features both 'pure' and 'impure' forms of altruism and...

In the U.S., mortgage interest deductibility provides a financial incentive for home ownership over renting as well as an incentive to 'over-consume' housing since houses are not fungible. Home-ownership is also often promoted as a safe means of wealth creation. We construct and calibrate a...