Research by topics

This page lists my research by topics. My best papers are indicated with 👍. (I did not create a category “general equilibrium” or “mathematical economics” because too many papers overlap.)

Power law

  1. 👍”Pareto Extrapolation: An Analytical Framework for Studying Tail Inequality”, with Émilien Gouin-Bonenfant, Quantitative Economics 14(1):201-233 (2023) WP version Code BibTeX
  2. Tail Behavior of Stopped Lévy Processes with Markov Modulation”, with Brendan K. Beare and Won-Ki Seo, Econometric Theory 38(5):986-1013 (2022) WP version BibTeX
  3. 👍”Determination of Pareto Exponents in Economic Models Driven by Markov Multiplicative Processes”, with Brendan K. Beare, Econometrica 90(4):1811-1833 (2022) WP version Slides BibTeX
  4. Capital and Labor Income Pareto Exponents across Time and Space”, with Tjeerd de Vries, Review of Income and Wealth 68(4):1058-1078 (2022) LIS Working Paper 794 arXiv Code BibTeX
  5. Efficient Minimum Distance Estimation of Pareto Exponent from Top Income Shares”, with Yulong Wang, Journal of Applied Econometrics 36(2):228-243 (2021) WP version Code BibTeX
  6. Is Gibrat’s “Economic Inequality” Lognormal?”, with Sherzod Akhundjanov, Empirical Economics 59(5):2071-2091 (2020) Code BibTeX
  7. 👍”On the Emergence of a Power Law in the Distribution of COVID-19 Cases”, with Brendan K. Beare, Physica D: Nonlinear Phenomena 412:132649 (2020) WP version Code BibTeX
  8. The Income Fluctuation Problem and the Evolution of Wealth”, with Qingyin Ma and John Stachurski, Journal of Economic Theory 187:105003 (2020) WP version Code BibTeX
  9. 👍”An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity”, with John Stachurski, Journal of Economic Theory 182:1-24 (2019) WP version Slides BibTeX Corrigendum
  10. Wealth Distribution with Random Discount Factors”, Journal of Monetary Economics 104:101-113 (2019) WP version Code BibTeX
  11. A Note on the Size Distribution of Consumption: More Double Pareto than Lognormal”, Macroeconomic Dynamics 21(6):1508-1518 (2017) WP version Online appendix Code BibTeX
  12. Fat Tails and Spurious Estimation of Consumption-Based Asset Pricing Models”, with Kieran James Walsh, Journal of Applied Econometrics 32(6):1156-1177 (2017) WP version Code BibTeX
  13. 👍”The Double Power Law in Consumption and Implications for Testing Euler Equations”, with Kieran James Walsh, Journal of Political Economy 123(5):1177-1200 (2015) WP version Slides Code BibTeX
  14. Incomplete Market Dynamics and Cross-Sectional Distributions”, Journal of Economic Theory 154:310-348 (2014) WP version BibTeX
  15. The Double Power Law in Income Distribution: Explanations and Evidence”, Journal of Economic Behavior and Organization 84(1):364-381 (2012) BibTeX
  16. Income Dynamics with a Stationary Double Pareto Distribution”, Physical Review E 83(4):046122 (2011) BibTeX

Asset price bubble

  1. “Leverage, Endogenous Unbalanced Growth, and Asset Price Bubbles”, with Tomohiro Hirano and Ryo Jinnai PDF
  2. “Unique Equilibria in Models of Rational Asset Price Bubbles”, with Tomohiro Hirano PDF
  3. “A Theory of Rational Housing Bubbles with Phase Transitions”, with Tomohiro Hirano PDF Slides
  4. “Bubble Necessity Theorem”, with Tomohiro Hirano, revise and resubmit at Journal of Political Economy PDF
  5. “Unbalanced Growth, Elasticity of Substitution, and Land Overvaluation”, with Tomohiro Hirano PDF

Dynamic programming

  1. Unbounded Dynamic Programming via the Q-Transform”, with Qingyin Ma and John Stachurski, Journal of Mathematical Economics 100:102652 (2022) WP version BibTeX
  2. Asymptotic Linearity of Consumption Functions and Computational Efficiency”, with Qingyin Ma, Journal of Mathematical Economics 98:102562 (2022) WP version Code BibTeX
  3. 👍”A Theory of the Saving Rate of the Rich”, with Qingyin Ma, Journal of Economic Theory 192:105193 (2021) WP version Slides Code BibTeX
  4. Perov’s Contraction Principle and Dynamic Programming with Stochastic Discounting”, Operations Research Letters 49(5):815-819 (2021) WP version BibTeX
  5. The Income Fluctuation Problem and the Evolution of Wealth”, with Qingyin Ma and John Stachurski, Journal of Economic Theory 187:105003 (2020) WP version Code BibTeX

Finance

  1. 👍”The Equity Premium and the One Percent”, with Kieran James Walsh, Review of Financial Studies 33(8):3583-3623 (2020) WP version BibTeX
  2. Securitized Markets, International Capital Flows, and Global Welfare”, with Gregory Phelan, Journal of Financial Economics 131(3):571-592 (2019) WP version Code BibTeX

Macroeconomics

  1. 👍”Pareto Extrapolation: An Analytical Framework for Studying Tail Inequality”, with Émilien Gouin-Bonenfant, Quantitative Economics 14(1):201-233 (2023) WP version Code BibTeX
  2. Asymptotic Linearity of Consumption Functions and Computational Efficiency”, with Qingyin Ma, Journal of Mathematical Economics 98:102562 (2022) WP version Code BibTeX
  3. 👍”A Theory of the Saving Rate of the Rich”, with Qingyin Ma, Journal of Economic Theory 192:105193 (2021) WP version Slides Code BibTeX
  4. 👍”An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity”, with John Stachurski, Journal of Economic Theory 182:1-24 (2019) WP version Slides BibTeX Corrigendum
  5. Wealth Distribution with Random Discount Factors”, Journal of Monetary Economics 104:101-113 (2019) WP version Code BibTeX
  6. Growth Effects of Annuities and Government Transfers in Perpetual Youth Models”, with Yoshiyuki Miyoshi, Journal of Mathematical Economics 72:1-6 (2017) Code BibTeX
  7. Huggett Economies with Multiple Stationary Equilibria”, Journal of Economic Dynamics and Control 84:77-90 (2017) WP version Code BibTeX
  8. Asset Prices and Efficiency in a Krebs Economy”, Review of Economic Dynamics 18(4):957-978 (2015) WP version BibTeX

Numerical methods

  1. 👍”Pareto Extrapolation: An Analytical Framework for Studying Tail Inequality”, with Émilien Gouin-Bonenfant, Quantitative Economics 14(1):201-233 (2023) WP version Code BibTeX
  2. Asymptotic Linearity of Consumption Functions and Computational Efficiency”, with Qingyin Ma, Journal of Mathematical Economics 98:102562 (2022) WP version Code BibTeX
  3. Data-based Automatic Discretization of Nonparametric Distributions”, Computational Economics 57:1217-1235 (2021) WP version Code BibTeX
  4. 👍”Discretizing Nonlinear, Non-Gaussian Markov Processes with Exact Conditional Moments”, with Leland E. Farmer, Quantitative Economics 8(2):651-683 (2017) WP version Matlab code Julia code BibTeX
  5. Discretizing Distributions with Exact Moments: Error Estimate and Convergence Analysis”, with Ken’ichiro Tanaka, SIAM Journal on Numerical Analysis 53(5):2158-2177 (2015) WP version BibTeX
  6. Discrete Approximations of Continuous Distributions by Maximum Entropy”, with Ken’ichiro Tanaka, Economics Letters 118(3):445-450 (2013) BibTeX

Maximum entropy

  1. “Tuning Parameter-Free Nonparametric Density Estimation from Tabulated Summary Data”, with Ji Hyung Lee, Yuya Sasaki, and Yulong Wang, revise and resubmit at Journal of Econometrics PDF
  2. 👍”Discretizing Nonlinear, Non-Gaussian Markov Processes with Exact Conditional Moments”, with Leland E. Farmer, Quantitative Economics 8(2):651-683 (2017) WP version Matlab code Julia code BibTeX
  3. Bayesian General Equilibrium”, Economic Theory 58(2):375-411 (2015) BibTeX
  4. Discretizing Distributions with Exact Moments: Error Estimate and Convergence Analysis”, with Ken’ichiro Tanaka, SIAM Journal on Numerical Analysis 53(5):2158-2177 (2015) WP version BibTeX
  5. Discrete Approximations of Continuous Distributions by Maximum Entropy”, with Ken’ichiro Tanaka, Economics Letters 118(3):445-450 (2013) BibTeX
  6. Existence of a Statistical Equilibrium for an Economy with Endogenous Offer Sets”, Economic Theory 45(3):379-415 (2010) BibTeX

Econometrics

  1. “Tuning Parameter-Free Nonparametric Density Estimation from Tabulated Summary Data”, with Ji Hyung Lee, Yuya Sasaki, and Yulong Wang, accepted at Journal of Econometrics WP version
  2. Efficient Minimum Distance Estimation of Pareto Exponent from Top Income Shares”, with Yulong Wang, Journal of Applied Econometrics 36(2):228-243 (2021) WP version Code BibTeX

Miscellaneous

  1. Robust Comparative Statics for the Elasticity of Intertemporal Substitution”, with Joel P. Flynn and Lawrence D. W. Schmidt, Theoretical Economics 18(1):231-265 (2023) WP version BibTeX
  2. 👍”Optimal Epidemic Control in Equilibrium with Imperfect Testing and Enforcement”, with Thomas Phelan, Journal of Economic Theory 206:105570 (2022) WP version Slides Code BibTeX
  3. The Effect of Social Distancing on the Reach of an Epidemic in Social Networks”, with Gregory Gutin, Tomohiro Hirano, Sung-Ha Hwang, and Philip R. Neary, Journal of Economic Interaction and Coordination 16:629-647 (2021) WP version Code BibTeX
  4. 👍”Necessity of Hyperbolic Absolute Risk Aversion for the Concavity of Consumption Functions”, Journal of Mathematical Economics 94:102460 (2021) WP version BibTeX
  5. Publications, Citations, Position, and Compensation of Economics Professors”, with Yifei Lyu, Econ Journal Watch 16(2):239-257 (2019) Code BibTeX
  6. Edgeworth Box Economies with Multiple Equilibria”, with Kieran James Walsh, Economic Theory Bulletin 5(1):65-80 (2017) WP version Code BibTeX
  7. Radii of the Inscribed and Escribed Spheres of a Simplex”, International Journal of Geometry 3(2):5-13 (2014) BibTeX
  8. Learning Curve for Paramedic Endotracheal Intubation and Complications”, with Junko Toda and Johji Arakawa, International Journal of Emergency Medicine 6:38 (2013) BibTeX
  9. The Impact of Media Reports on the 2008 Outbreak of Hydrogen Sulfide Suicides in Japan”, with Mitsuhiro Nakamura, Hideo Yasunaga, Toru Sugihara, and Tomoaki Imamura, International Journal of Psychiatry in Medicine 44(2):133-140 (2012) BibTeX
  10. Operator Reverse Monotonicity of the Inverse”, American Mathematical Monthly 118(1):82-83 (2011) BibTeX