Working Papers

The Heller-Hurwicz Economic Institute fosters research on a variety of topics, including select major socioeconomic problems like climate change, financial regulation, and social insurance. We've collected the working papers by University of Minnesota faculty and affiliated scholars below to encourage commentary and dialogue.

Please contact us if you are interested in sharing your own work.

Latest Update Title Author
December 2022 The Importance of Modeling Income Taxes over Time: U.S. Reforms and Outcomes Mariacristina De Nardi
November 2022 A Theory of Business Transfers Anmol Bhandari, Ellen McGrattan
November 2022 Identification and Estimation of Discrete Choice Demand Models when Observed and Unobserved Characteristics are Correlated Amil Petrin
September 2022 The Missing Middle Managers: Labor Costs, Firm Structure, and Development Hannes Malmberg
September 2022 On the Nature of Entrepreneurship Anmol Bhandari, Ellen McGrattan
September 2022 Managing Public Portfolios Anmol Bhandari
June 2022 Designing Cash Transfers in the Presence of Children's Human Capital Formation Joseph Mullins
May 2022 Minimum Wages, Efficiency and Welfare Kyle Herkenhoff
March 2022 The Lifetime Costs of Bad Health Mariacristina De Nardi
June 2021 On the Coexistence of Cryptocurrency and Fiat Money Zhixiu Yu
May 2021 Trends in Labor Supply of Older Men and the Role of Social Security Zhixiu Yu
April 2021 Entry Timing in the Face of Switching Costs and its Welfare Effects: Evidence from Same-Day Grocery Delivery Platforms Vitoria R. de Castro
March 2021 How Does Insurance Competition Affect Medical Consumption? Conor Ryan
February 2021 The US-China Trade War and Global Value Chains Yang Zhou
February 2021 Reparations and Persistent Racial Wealth Gaps Job Boerma, Loukas Karabarbounis
May 2020 A structural meta-analysis of welfare reform experiments and their impacts on children Joseph Mullins
April 2020 A comparison of living standards across the states of America Elena Falcettoni, Vegard M. Nygaard
July 2019 The Macroeconomics of Intensive Agriculture Hannes Malmberg
October 2018 Multidimensional Skills, Sorting, and Human Capital Accumulation Jeremy Lise, Fabien Postel-Vinay
July 2017 Public Debt in Economies with Heterogeneous Agents Anmol Bhandari, Mikhail Golosov, David Evans, Thomas J. Sargent
June 2017 Inequality, Business Cycles and Fiscal-Monetary Policy Anmol Bhandari, David Evans, Mikhail Golosov, Thomas J. Sargent
April 2017 The Envelope Theorem, Euler and Bellman Equation, without Differentiability Jan Werner, Ramon Marimon
April 2017 Lifetime Incomes in the United States over Six Decades Fatih Guvenen, Greg Kaplan, Jae Song, Justin Weidner
April 2017 Top Income Inequality in the 21st Century: Some Cautionary Notes Fatih Guvenen, Greg Kaplan
March 2017 Exchange Rate Policies at the Zero Lower Bound Manuel Amador, Javier Bianchi, Luigi Bocola, Fabrizio Perri
March 2017 Speculative Trade under Ambiguity Jan Werner
March 2017 Offshore Profit Shifting and Domestic Productivity Measurement Fatih Guvenen, Raymond J. Mataloni Jr., Dylan G. Rassier, Kim J. Ruhl
February 2017 Asset Pricing with Endogenously Uninsurable Tail Risks Anmol Bhandari, Hengjie Ai
February 2017 Capital Allocation and Productivity Gita Gopinath, Sebnem Kalemli-Özcan, Loukas Karabarbounis, Carolina Villegas-Sanchez
November 2016 The Impact of Consumer Credit Access on Employment, Earnings, and Entrepreneurship Kyle Herkenhoff, Gordon Phillips, Ethan Cohen-Cole
November 2016 Money Burning in the Theory of Delegation Manuel Amador, Kyle Bagwell
November 2016 Take the Short Route: Equillibrium Default and Debt Maturity Mark Aguiar, Manuel Amador, Hugo Hopenhayn, Iván Werning
October 2016 Firming Up Inequality Jae Song, David J. Price, Fatih Guvenen, Nicholas Bloom, Till von Wachter
August 2016 What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Dynamics? Fatih Guvenen, Fatih Karahan, Serdar Ozkan, Jae Song
July 2016 Skewed Business Cycles Sergio Salgado, Fatih Guvenen, Nicholas Bloom
June 2016 Intangible Capital and Measured Productivity Ellen McGrattan
May 2016 How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output Kyle Herkenhoff, Gordon Phillips, Ethan Cohen-Cole
May 2016 How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output Naoki Aizawa
April 2016 Identifying Ambiguity Shocks in Business Cycle Models Using Survey Data Anmol Bhandari, Jaroslav Borovička, Paul Ho
December 2015 Asymmetric Business Cycle Risk and Government Insurance Christopher Busch, David Domeij, Fatih Guvenen, Rocio Madera
December 2015 Multidimensional Skill Mismatch Fatih Guvenen, Burhan Kuruscu, Satoshi Tanaka, David Wiczer
November 2015 Advertising and Risk Selection in Health Insurance Markets Naoki Aizawa, You Suk Kim
October 2015 Equilibrium Labor Market Search and Health Insurance Reform Naoki Aizawa, Hanming Fang
September 2015 Doubts, Asymmetries, and Insurance Anmol Bhandari
September 2015 The Impact of Foreclosure Delay on U.S. Employment Kyle Herkenhoff, Lee Ohanian
August 2015 The Impact of Consumer Credit Access on Unemployment Kyle Herkenhoff
May 2015 Household Sharing and Commitment: Evidence from Panel Data on Individual Expenditures and Time Use Jeremy Lise, Ken Yamada
March 2015 An Assignment Model of Knowledge Diffusion and Income Inequality Erzo Luttmer
November 2014 Risk Sharing with Model Misspecification in Economies Without Aggregate Fluctuations Anmol Bhandari
October 2014 Regulating a Monopolist with Uncertain Costs Without Transfers Manuel Amador, Kyle Bagwell
October 2014 The Glass Ceiling and The Paper Floor: Gender Differences Among Top Earners, 1981-2012 Fatih Guvenen, Greg Kaplan, Jae Song
August 2014 Participation in Risk Sharing Under Ambiguity  Jan Werner
August 2014 Cooperative Institutions Piotr Evdokimov, David Rahman
May 2014 The Dilemma of The Cypress and The Oak Tree David Rahman
March 2014 Personality and Bargaining Power Piotr Evdokimov, David Rahman
October 2013 Crisis and Commitment: Inflation Credibility and the Vulnerability to Soverign Debt Crises Mark Aguiar, Mark Amador, Emmanuel Farhi, Gita Gopinath
July 2013 Unemployment, Negative Equity, and Strategic Default Kristopher Gerardi, Kyle Herkenhoff, Lee Ohanian, Paul Willen
June 2013 Information Delay in Games with Frequent Actions David Rahman
February 2013 The Stolper-Samuelson Effects of a Decline in Aggregate Consumption Erzo Luttmer
November 2012 Informal Unemployment Insurance and Labor Market Dynamics Kyle Herkenhoff
October 2012 Sovereign Debt and the Tragedy of the Commons Manuel Amador
August 2012 Eventually, Noise and Imitation Implies Balanced Growth Erzo Luttmer
March 2012 Slow Convergence in Economies with Firm Heterogeneity Erzo Luttmer
January 2012 Growth with a Fixed Factor Erzo Luttmer