We study aggregate, distributional, and welfare effects of a permanent reduction in the capital tax rate in a dynamic equilibrium model with capital-skill complementarity. Such a tax reform leads to expansionary long-run aggregate effects, but is coupled with an increase in the skill premium....

We assume that central banks can control inflation so that inflation rates reflect the preferences of the central bank council.The hypothesis to be tested is that these preferences depend on the central bankers' educational and/or professional background. In a panel data analysis for the euro...

This paper studies the effect of monetary policy shocks on different demographic groups in the U.S. labor market. I look at the effect of a contractionary monetary policy shock on unemployment rates of high and low-skill workers, finding that the low-skill group is more sensitive to these shocks...