We provide quantitative guidance on whether and to what extent different elements of Heterogeneous Agent New Keynesian (HANK) models amplify or dampen the response of agg[...]

This paper analyzes the effects of differential tax treatment of corporate and non-corporate income in the U.S. on capital accumulation, the allocation of resources acros[...]

This paper quantifies the redistributional effects of inflation in Canada that arise through the revaluation of nominal assets and liabilities. We find that the effects a[...]

This paper investigates the importance of entrepreneurship when quantifying the aggregate and distributional effects of switching from a progressive to a proportional inc[...]

We use novel datasets from multiple sources to quantify US and Canadian consumers’ net pecuniary costs of making payments across income cohorts. The net costs include mer[...]

This paper examines the relationship between house prices and consumption, through the use of debt. Using unique Canadian household-level data that reports the uses of de[...]

Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth – between households and the gove[...]

There is currently a policy debate on potential refinements to monetary policy regimes in countries with low and stable inflation such as the U.S. and Canada. For example[...]

In this paper we develop a quantitative model of entrepreneurial activity (risk-taking) and consumer bankruptcy choices and use the model to study the effects of bankrupt[...]

The author quantitatively studies the interaction between education and occupation choices and its implication for the relationship between the changes in earnings inequa[...]