Unbounded Markov Dynamic Programming with Weighted Supremum Norm Perov Contractions
Accepted at Economic Theory Bulletin, 2024 WP version
Publications
Below is the complete publication list. My best papers are indicated with 👍.You can also find my articles on my Google Scholar profile.
Refereed research articles
Bubble Economics
👍Journal of Mathematical Economics, 2024 , with Tomohiro Hirano WP version
Tuning Parameter-Free Nonparametric Density Estimation from Tabulated Summary Data
Journal of Econometrics, 2024 , with Ji Hyung Lee, Yuya Sasaki, and Yulong Wang WP version Code
Robust Comparative Statics for the Elasticity of Intertemporal Substitution
Theoretical Economics, 2023 , with Joel P. Flynn and Lawrence D. W. Schmidt WP version Slides
Pareto Extrapolation: An Analytical Framework for Studying Tail Inequality
Quantitative Economics, 2023 , with Émilien Gouin-Bonenfant WP version Slides Code
Capital and Labor Income Pareto Exponents across Time and Space
Review of Income and Wealth, 2022 , with Tjeerd de Vries WP version Code
Optimal Epidemic Control in Equilibrium with Imperfect Testing and Enforcement
Journal of Economic Theory, 2022 , with Thomas Phelan WP version Slides Code
Tail Behavior of Stopped Lévy Processes with Markov Modulation
Econometric Theory, 2022 , with Brendan K. Beare and Won-Ki Seo WP version Corrigendum
Determination of Pareto Exponents in Economic Models Driven by Markov Multiplicative Processes
Econometrica, 2022 , with Brendan K. Beare WP version Slides
Unbounded Dynamic Programming via the Q-Transform
Journal of Mathematical Economics, 2022 , with Qingyin Ma and John Stachurski WP version
Asymptotic Linearity of Consumption Functions and Computational Efficiency
Journal of Mathematical Economics, 2022 , with Qingyin Ma WP version Code
Perov's Contraction Principle and Dynamic Programming with Stochastic Discounting
Operations Research Letters, 2021 WP version
Necessity of Hyperbolic Absolute Risk Aversion for the Concavity of Consumption Functions
Journal of Mathematical Economics, 2021 WP version
Data-based Automatic Discretization of Nonparametric Distributions
Computational Economics, 2021 WP version Code
A Theory of the Saving Rate of the Rich
Journal of Economic Theory, 2021 , with Qingyin Ma WP version Slides Code
The Effect of Social Distancing on the Reach of an Epidemic in Social Networks
Journal of Economic Interaction and Coordination, 2021 , with Gregory Gutin, Tomohiro Hirano, Sung-Ha Hwang, and Philip R. Neary WP version Code History
Efficient Minimum Distance Estimation of Pareto Exponent from Top Income Shares
Journal of Applied Econometrics, 2021 , with Yulong Wang WP version Code History
👍On the Emergence of a Power Law in the Distribution of COVID-19 Cases
Physica D: Nonlinear Phenomena, 2020 , with Brendan K. Beare WP version Code History
Is Gibrat's 'Economic Inequality' Lognormal?
Empirical Economics, 2020 , with Sherzod Akhundjanov Code History
The Equity Premium and the One Percent
Review of Financial Studies, 2020 , with Kieran James Walsh WP version Slides
The Income Fluctuation Problem and the Evolution of Wealth
Journal of Economic Theory, 2020 , with Qingyin Ma and John Stachurski WP version Code History
An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity
Journal of Economic Theory, 2019 , with John Stachurski WP version Slides Corrigendum
Wealth Distribution with Random Discount Factors
Journal of Monetary Economics, 2019 WP version Code History
Securitized Markets, International Capital Flows, and Global Welfare
Journal of Financial Economics, 2019 , with Gregory Phelan WP version Slides Code History
Growth Effects of Annuities and Government Transfers in Perpetual Youth Models
Journal of Mathematical Economics, 2017 , with Yoshiyuki Miyoshi Code History
A Note on the Size Distribution of Consumption: More Double Pareto than Lognormal
Macroeconomic Dynamics, 2017 WP version Code History
Fat Tails and Spurious Estimation of Consumption-Based Asset Pricing Models
Journal of Applied Econometrics, 2017 , with Kieran James Walsh WP version Code History
👍Discretizing Nonlinear, Non-Gaussian Markov Processes with Exact Conditional Moments
Quantitative Economics, 2017 , with Leland E. Farmer WP version Slides Code History
Edgeworth Box Economies with Multiple Equilibria
Economic Theory Bulletin, 2017 , with Kieran James Walsh WP version Code History
Asset Prices and Efficiency in a Krebs Economy
Review of Economic Dynamics, 2015 WP version History
👍The Double Power Law in Consumption and Implications for Testing Euler Equations
Journal of Political Economy, 2015 , with Kieran James Walsh WP version Slides Code History
Discretizing Distributions with Exact Moments: Error Estimate and Convergence Analysis
SIAM Journal on Numerical Analysis, 2015 , with Ken'ichiro Tanaka WP version Slides History
Incomplete Market Dynamics and Cross-Sectional Distributions
Journal of Economic Theory, 2014 WP version Slides History
Radii of the Inscribed and Escribed Spheres of a Simplex
International Journal of Geometry, 2014 History
Learning Curve for Paramedic Endotracheal Intubation and Complications
International Journal of Emergency Medicine, 2013 , with Junko Toda and Johji Arakawa History
Discrete Approximations of Continuous Distributions by Maximum Entropy
Economics Letters, 2013 , with Ken'ichiro Tanaka History
The Double Power Law in Income Distribution: Explanations and Evidence
Journal of Economic Behavior and Organization, 2012 History
The Impact of Media Reports on the 2008 Outbreak of Hydrogen Sulfide Suicides in Japan
International Journal of Psychiatry in Medicine, 2012 , with Mitsuhiro Nakamura, Hideo Yasunaga, Toru Sugihara, and Tomoaki Imamura History
Income Dynamics with a Stationary Double Pareto Distribution
Physical Review E, 2011 History
Operator Reverse Monotonicity of the Inverse
American Mathematical Monthly, 2011 History
Existence of a Statistical Equilibrium for an Economy with Endogenous Offer Sets
Economic Theory, 2010 History
Working papers
Recent Advances on Uniqueness of Competitive Equilibrium
Conditionally accepted at Journal of Mathematical Economics, Last updated 2024/02 , with Kieran James Walsh
Leverage, Endogenous Unbalanced Growth, and Asset Price Bubbles
Last updated 2024/02 , with Tomohiro Hirano and Ryo Jinnai Slides
On Equilibrium Determinacy in Overlapping Generations Models with Money
R&R Economics Letters, Last updated 2024/01 , with Tomohiro Hirano
Bubble Necessity Theorem
R&R Journal of Political Economy, Last updated 2023/12 , with Tomohiro Hirano Slides
Optimal Taxation and the Domar-Musgrave Effect
Last updated 2023/11 , with Brendan K. Beare
Robust Asset-Liability Management
Last updated 2023/10 , with Tjeerd de Vries
Linearity of Aggregate Production Functions
Last updated 2023/09 , with Christopher P. Chambers
Unbalanced Growth, Elasticity of Substitution, and Land Overvaluation
Last updated 2023/07 , with Tomohiro Hirano Slides
A Theory of Rational Housing Bubbles with Phase Transitions
Last updated 2023/04 , with Tomohiro Hirano
Unique Equilibria in Models of Rational Asset Price Bubbles
Last updated 2023/03 , with Tomohiro Hirano
Fixed-k Tail Regression: New Evidence on Tax and Wealth Inequality from Forbes 400
Last updated 2022/09 , with Ji Hyung Lee, Yuya Sasaki, and Yulong Wang
Incentivizing Hidden Types in Secretary Problem
Last updated 2022/08 , with Longjian Li Slides
Capital and Labor Income Pareto Exponents in the United States, 1916–2019
Last updated 2022/06 , with Ji Hyung Lee, Yuya Sasaki, and Yulong Wang Slides
Zipf's Law: A Microfoundation
Last updated 2017/05 Slides
Securitization and Leverage in General Equilibrium
Last updated 2015/07 Slides
Other publications
Below is a list of other publications including comments, conference proceedings, corrigenda, etc.'Ergodicity Economics' is Pseudoscience
Qeios, 2024
Visualizing the Contraction Mapping Theorem
Qeios, 2024 , with James E. Rauch Slides
Corrigendum to 'Bubbles and Constraints on Debt Accumulation' [J. Econ. Theory 57 (1992) 245–256]
Journal of Economic Theory, 2023 , with Narayana Kocherlakota
Corrigendum to 'An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity' [Journal of Economic Theory 182 (2019) 1–24]
Journal of Economic Theory, 2020 , with John Stachurski
Susceptible-Infected-Recovered (SIR) Dynamics of COVID-19 and Economic Impact
Covid Economics, Vetted and Real-Time Papers, 2020 Slides
Error Estimate and Convergence Analysis of Moment-Preserving Discrete Approximations of Continuous Distributions
Bayesian Inference and Maximum Entropy Methods in Science and Engineering, 2014 , with Ken'ichiro Tanaka Slides
Axiomatization of Maximum Entropy without the Bayes Rule
Bayesian Inference and Maximum Entropy Methods in Science and Engineering, 2012 , with Ken'ichiro Tanaka Slides