Macroeconomics, labor economics, urban economics secondary publications macroprudential taxation in good times, 2019 journal of international economics 121, 103251,withjeanpaullhuillierandfacundopiguillem working papers. Facundo piguillem is an assistant professor at einaudi institute for economics and finance. As life expectancy has increased, so has the need for retirement savings. Find out by reading about cores approach to updating economics. Selection of journal articles and books useful links 16 contents research at the bank of italy directorate general for economics, statistics and research highlights number 55 july 2019. Facundo piguillem einaudi institute for economics and finance. On the distributional effects of controlling a pandemic by andrew glover, jonathan heathcote, dirk krueger, and.
For useful comments and discussions we thank an anonymous referee, alan auerbach, roland benabou, gregory besharov, tim besley, karel mertens, torsten persson, facundo piguillem, thomas sargent, fabrizio zilibotti, and seminar participants at binghamton, cornell, east anglia, the einaudi institute for economics and finance, houston, lse, nber, nyu, the federal reserve bank of. We focus on shocks to future income news shocks, a salient feature of the u. Receive an update when the latest issues in this journal are. The setting is an overlappinggenerations model that incorporates irreversible skill investment, flexible labor supply, ex ante heterogeneity in the disutility of work and the cost of skill acquisition, partially insurable wage risk, and a life cycle productivity profile. No 732, 2018 meeting papers from society for economic dynamics abstract. On the distributional effects of controlling a pandemic by andrew glover, jonathan heathcote, dirk krueger, and josev octor roosrull 14. The world bank development research group macroeconomics and growth team. This paper studies optimal taxation of earnings when the degree of tax progressivity is allowed to vary with age. Lecture notes in economics and mathematical economics springer. Public disclosure authorized public disclosure authorized. Norman and piguillem, facundo, why are developing countries so slow in adopting new technologies. Costly financial intermediation in neoclassical growth theory rajnish mehra, facundo piguillem, and edward c. Evidence from the progressive era costanza biavaschi, giovanni facchini.
Dynamic bargaining over redistribution in legislatures by. Facundo piguillem einaudi institute for economic and finance, eief. This is an important extension as substantial resources are used in intermediating the large amount of borrowing and lending between households. Concentration in macroeconomics, international economics, and econometrics. Working papers federal reserve bank of minneapolis. Many working papers later become more polished staff reports. Juan facundo piguillem in partial fulfillment of the requirements for the degree of doctor of philosophy larry jones august, 2009. Many countries are taking measures stopping productive activities to slow down the spread of covid19. Dynamic bargaining over redistribution in legislatures facundo piguillemy alessandro riboniz december 20 abstract. When they agree to replace the current status quo, the approved policy. Discipline through disagreement facundo piguillemy alessandro riboniz july 20 abstract. How, and how far and fast, will the economic damage spread. Free principles of economics 2e book for download openstax.
Working papers articles software chapters books working papers. E2,e44,e6,g1,g11,g12,g23 abstract the neoclassical growth model is extended to include costly intermediated borrowing and lending between households. Jorge puig cedlas, cefip, department of economics fce unlp the acceptance or rejection of the presentation will be notified before july 1, 2018. The key economic questions addressed in the book are.
In modern democracies public policies are negotiated by elected policymakers. Why are developing countries so slow in adopting new. Facundo piguillem eief and alessandro riboni ecole polytechnique. Moreover, it is reasonable to think that the taxs properties. Subjective ex ante treatment effect of health on retirement. Contractionary monetary easing and the trilemma paolo cavallino, damiano sandri. The optimal covid19 quarantine and testing policies by facundo piguillem and liyan shi 12.
Working papers do not reflect the position of crest but only the views of the authors. Principles of economics covers the scope and sequence for a twosemester principles of economics course. Ecole polytechnique, paris laboratoire deconometrie. Retirement savings and shadow banking vox, cepr policy. Journal of international economics vol 121, november. Facundo piguillem sjo international trade and commercial policies secsp01 8 i semester eng stefano manzocchi rome elective course, held in cooperation with eief in the second semester, eligible by economics students. Facundo piguillem and alessandro riboni no 1804, eief working papers series from einaudi institute for economics and finance eief abstract. Costly financial intermediation in neoclassical growth. Our book and ebook portfolio comprises major reference works, textbooks, and. Facundo piguillem via dei due macelli 73 einaudi institute for economics and finance 00187 rome phone. Fiscal rules as bargaining chips facundo piguillem. Retirement in the shadow banking, with facundo piguillem, 2019.
We show that the possibility of override does not make fiscal rules ineffectual. Dynamic bargaining over redistribution in legislatures. This column shows that shadow banking has played a crucial role in meeting the higher demand for insurance by lowering the financial sectors liquidity costs. He has held visiting positions at the world bank, the federal reserve bank ofminneapolis and the university of montreal. Macro prudential taxation of good news, eief working papers series 1909, einaudi institute for economics. Want to learn about economics outside of a boring textbook. In this paper we make an attempt to understand the optimal response to an infectious disease. The underlying economy is one in which unemployment can arise but can be mitigated by tax cuts and increases in public production. Macro prudential taxation of good news, eief working papers series 1909, einaudi institute for economics and. Facundo piguillem einaudi institute for economics and finance chima simpsonbell pierre werner chair programme, robert schuman centre, european. Einaudi institute for economics and finance eief date written. We publish many of the most prestigious journals in economics, including a. The economics of fintech and digital currencies tuesday, march 5, 2019 the rapid rise and sudden crash in the price of bitcoin over the last two years have been a wakeup call to early optimistic views about the disruptive possibilities of cryptocurrencies and other new financial technologies fintech.
This paper studies politicians who have a presentbias for spending. Articles in press latest issue article collections all issues submit your article. Facundo piguillem is assistant professor of economics at the einaudi institute for economics and finance rome. The aggregate and complementary impact of micro distortions august 1, 2010. Reading list page 1 reading group 1 march 2016 prof. Aea should push for fair disclosure of flyouts to prospective aps. New financial instruments have been important in meeting the increasing demand for safe assets. Research grants jacobs levy equity management center for quantitative financial research grant. Study introduction to economics online free by downloading openstaxs principles of economics 2e textbook and using our accompanying online resources. This paper extends the neoclassical growth model by incorporating. Successive editions of this textbook, which became samuelsonnordhaus. Costly financial intermediation in neoclassical growth theory, quantitative economics, econometric society, vol.
We show that the possibility of overridding does not make fiscal rules ineffectual. Einaudi institute for economics and finance eief alessandro riboni. Retirement in the shadow banking economics job market. Working papers are early drafts of academic research papers written by economists affiliated with the federal reserve bank of minneapolis. Introduction there is a rich class of models that study savings for retirement, but these models abstract from the large costs of. See all articles by facundo piguillem facundo piguillem. Since fiscal rules determine the outside option in case of disagreement, the opposition. Abstract this paper presents a political economy theory of. Associate professor, einaudi institute for economics and finance.
We find that the observed policies are very close to a simple welfare maximization problem of a planner. The authors take a balanced approach to micro and macroeconomics, to both keynesian and classical views, and to the theory and application of economics. We will learn how to show the existence, uniqueness or. Costly financial intermediation in neoclassical growth theory. A political economy theory of fiscal policy and unemployment. At times these measures have been criticized as being excessive and too costly. Thursday, august 24th home department of economics. Facundo piguillem national bureau of economic research. The neoclassical growth model is extended to include costly intermediated borrowing and lending between households. His research focuses on macroeconomics, political economy, economic growth and diversity. Principles of economics open textbook bc open textbooks. We will start studying a canonical recursive problem.