Macroeconomics

Tax Incentives, Portfolio Choice, and Macroprudential Risks
We use a calibrated life-cycle portfolio choice model of homeowners, exposed to uninsurable income risk, to show that empirically …
Janosch Brenzel-Weiss, Winfried Koeniger, Arnau Valldares-Esteban
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Does the Added Worker Effect Matter?
In the US, the likelihood of a married woman entering the labor force in a given month increases by 60% if her husband loses his job, …
Nezih Guner, Yuliya Kulikova, Arnau Valladares-Esteban
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On the Black-White Gaps in Labor Supply and Earnings over the Lifecycle in the US
In the US economy, Black men, on average, receive lower wages than White men, and the difference increases over the working life. The …
Christopher Rauh, Arnau Valladares-Esteban
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On the Measurement of the Elasticity of Labour
We use a simple theoretical framework, a building block of many macroeconomic models, to study the prominently debated relationship …
Charles Gottlieb, Joern Onken, Arnau Valladares-Esteban
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On Households and Unemployment Insurance
We study unemployment insurance in a framework where the main source of heterogeneity among agents is the type of household they live …
Sekyu Choi, Arnau Valladares-Esteban
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The Marriage Unemployment Gap
In this paper we document that married individuals face a lower unemployment rate than their single counterparts. We refer to this …
Sekyu Choi, Arnau Valladares-Esteban
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The Role of Family Structure in the Evolution of Household Wealth in the US since the 1960s
In the US, married households have more net worth per working-age adult than single households. In the 1960s, the gap was associated …
Alina Bartscher, Winfried Koeniger, Benjamin Larin, Arnau Valladares-Esteban