School of Economics

Past Seminars

Household Income in Tax Data: Using Addresses to Move from Tax Unit to Household Income Distributions.

Abstract Tax return data are increasingly the standard for tracking income statistics in the United States. However, these data have traditionally been limited by their inability to capture non-filers and to identify members of separate tax units living in the same household. We overcome these obstacles and create household records directly in the tax data using mailing address information included on tax forms. We then present the first set of tax-based household income and inequality measures for the entire income distribution. When comparing household income inequality results in the tax data to those using the March CPS, we confirm previous findings that the March CPS understates the inequality of household income. However, we also find that the previous approach of using tax units in the IRS data to proxy for households leads to an overstatement of household income inequality. Finally, using households in the IRS tax records, we illustrate how focusing on tax units rather than households alters the observed distribution of tax programs such as the Earned Income Tax Credit

Dr. Kiyotaki will present A Macroeconomic Model with Financial Panics

This paper incorporates banks and banking panics within a conven-
tional macroeconomic framework to analyze the dynamics of a …nan-
cial crisis of the kind recently experienced. We are particularly inter-
ested in characterizing the sudden and discrete nature of the banking
panics as well as the circumstances that makes an economy vulnerable
to such panics in some instances but not in others. Having a conven-
tional macroeconomic model allows us to study the channels by which
the crisis a¤ects real activity and the e¤ects of policies in containing

Dr. Tymofiy’s research on game theory, contract theory, and institutional design has been published in major international academic journals like the Review of Economic Studies and the Journal of Economic Theory.

Research includes behavioral economics and household finance, with a focus on low-income households.

Research interests in the intersection of finance and macroeconomics, with an emphasis on normative questions. He has recently studied the optimal determination of transaction taxes, the optimal design of bankruptcy policies, the effects of bank size on financial fragility, the ideal design of joint liability arrangements among sovereigns and the welfare losses associated with fire-sale externalities.

His research lies at the intersection of macroeconomics, macro-labor, international macro, and monetary economics. His work focuses on the study of labor market dynamics, financial frictions, and business cycles in developing and emerging economies, the importance of sectoral heterogeneity for the behavior of short-run economic activity, and the role of macro policy in mitigating the impact of adverse shocks to the economy.

Professor Caliendo’s research is focused on understanding and quantifying the economic effects of international trade and migration

Session 1: 10:00am –Noon
Ryan Michaels (FRB Philadelphia) “Vacancy Chains”,

Research in Labor Economics, Economics of Education, Health Economics, Econometrics

Dr. Elena Krasnokutskaya research includes the empirical analysis of imperfectly competitive markets.

Martín Uribe is a professor of Economics at Columbia University and a Research Associate of the National Bureau of Economic Research (NBER).

Dr. Prokhorov’s research interests include theoretical and applied econometrics, with applications in business analytics, finance, risk management, labour and health economics, demography and other fields.

Dr. Swanson’s research primarily focuses on the effects of information and incentives on both the supply side and the demand side of health care markets.

Professor Halaburda’s research uses game theory to study how technology influences network effects and interactions in the marketplace and how these changes affect business models. Much of her work focuses on competition between platforms, e.g. Apple’s iPhone vs. Android or eHarmony vs. Match. Most recently, her research applies platform competition concepts to analyze the development of digital currencies.