# Great Barrington Declaration

** Published:**

I have just signed the Great Barrington Declaration.

Associate Professor (Economics)

- San Diego, CA
- University of California San Diego
- ResearchGate
- Github
- Google Scholar
- ORCID

less than 1 minute read

** Published:**

I have just signed the Great Barrington Declaration.

3 minute read

** Published:**

These days I mostly play competitive tennis, so my opponents usually have sufficient understandings of the rules and we do not get into disputes. However, debates and disputes sometimes occur in recreational play, which could be annoying. So in a series of posts, let me talk about some rules that could be overlooked by recreational players. The official rules can be found in the “Friend at Court” here.

1 minute read

** Published:**

My paper “Capital and Labor Income Pareto Exponents across Time and Space” got accepted at Review of Income and Wealth. I have long felt that in the discussion of inequality, people often don’t make the distinction between income and wealth. In this paper we (my coauthor Tjeerd de Vries and I) estimate the Pareto exponents for capital and labor income separately for as many countries/years as possible. Using 475 country-year observations, we find that the median capital and labor income Pareto exponents are 1.46 and 3.35 respectively, so capital income (hence wealth) is more unequal than labor income. This conclusion is not surprising at all, but the point of the paper is to provide a systematic analysis, which was lacking in the earlier literature.

less than 1 minute read

** Published:**

My paper “Asymptotic Linearity of Consumption Functions and Computational Efficiency” with Qingyin Ma got accepted at Journal of Mathematical Economics. The main result is that when the marginal utility function is regularly varying (behave like a power function), the consumption function in optimal savings problem becomes asymptotically linear and we characterize the asymptotic slopes. Initially this paper was part of a bigger project with Ma & Toda (2021), but we split the paper in two to keep them focused and at manageable lengths. The JET paper treats only the case with CRRA (constant relative risk aversion) utility but has an economic application. The JME paper assumes regular variation plus some technical condition and discusses computational efficiency.

1 minute read

** Published:**

I played the San Diego District Championship NTRP 3.5 men’s singles over the last two weekends, and I won the final 6-1, 6-7(5-7), 7-5.