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Higher-Order Income Risk over the Business Cycle: A Parametric Approach
(2020-03-24)
We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher- order risk. We estimate our extended income process by ...
The Long-Term Distributional and Welfare Effects of Covid-19 School Closures
(2020-09-21)
Using a structural life-cycle model, we quantify the long-term impact of school closures during the Corona crisis on children affected at different ages and coming from households with different parental characteristics. ...
Evaluating the Effectiveness of Policies Against a Pandemic
(2020-11-12)
We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We ...