Kjetil Storesletten

Professor - Department of Economics

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Email kjetil.storesletten@econ.uio.no

Phone +47 22844009

Room ES1109

Username

Visiting address Moltke Moes vei 31 EilertSundts hus Block B N-0851 Oslo

Postal address Postboks 1095 Blindern 0317 OSLO

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Academic Interests

Quantitative macro, political economy, labor economics, risk sharing, asset pricing, immigration.

Courses taught

ECON4310 Macroeconomic Theory

ECON5300 - Advanced Macroeconomic Theory

Background

Professor at Department of Economics, University of Oslo 2012-
Visiting Professor at IEW (University of Zurich), 2009-
Professor at Department of Economics, University of Oslo 2003-2009
Institute for International Economic Studies (Stockholm University), 1995-2003
Ph.D. (Economics), GSIA/Tepper School of Business, Carnegie Mellon University, 1991-1995
Siviløkonom, Norwegian School of Economics and Business Administration, Norway, 1987-1991
Mathematics studies (one year), Agder University College, Norway, 1986-1987

Appointments

Editor of the Scandinavian Journal of Economics 2012-
Director and board member of the Review of Economic Studies 2003-
Monetary Advisor at the Federal Reserve Bank of Minneapolis, 2009-2012
Managing Editor of the Review of Economic Studies, 2006-2010
Research Fellow at Center for Economic and Policy Research (CEPR)
Member of Agder Academy of Sciences and Letters
Op-ed columnist in Dagens Næringsliv, 2012-
Op-ed columnist in Aftenposten,2005-2012

Awards

Sun Yefang Award 2012, with Fabrizio Zilibotti and Zheng Song, for the article "Growing Like China" published in the American Economic Review 2011
Advanced Grant from the European Research Council, 2013-2017, .The Macroeconomics of Inequality, Development and the Welfare State.( €2.1 million, 2013-2017)
Co-applicant for Center of Excellence at Department of Economics at University of Oslo, awarded by the Norwegian Science Foundation (50 million NOK, 2007-2011)
Awarded Outstanding Young Investigator grant ("Yngre, fremragende forskere") by the Norwegian Science Foundation (7 million NOK), 2005-2009
Carl Mannerfeldt Fund Grant, January 1996 .December 2002
Doctoral fellowships from Norwegian School of Economics and Business Administration, William Larimer Mellon Foundation, and the North European Management Institute, 1991-1995

Tags: Economics, Money Credit and Finance, Growth and Development, Income Employment and Welfare, Economic Policy, China

Rotten Parents and Disciplined Children: A Politico-Economic Theory of Public Expenditure and Debt, forthcoming in Econometrica, with Song and Zilibotti.
Growing Like China, American Economic Review, 2011, vol. 101(1), pp. 196-233, with Song and Zilibotti.
The Macroeconomic Implications of Rising Wage Inequality in the United States Journal of Political Economy, Vol. 118(4), August 2010, 681-722, with Heathcote and Violante.
Insurance and Opportunities: A Welfare Analysis of Labor Market Risk, Journal of Monetary Economics, vol. 55 (3), 2008, pp.501-525, with Heathcote and Violante
Asset pricing with idiosyncratic risk and overlapping generations, Review of Economic Dynamics, 2007, vol. 10 (4), pp. 519-548, with Telmer and Yaron.
Cyclical Dynamics in Idiosyncratic Labor-Market Risk, Journal of Political Economy, 2004, vol. 112 (3), pp. 695-717, with Telmer and Yaron.
Consumption and Risk Sharing over the Life Cycle, Journal of Monetary Economics, 2004, vol. 51, pp. 609-633, with Telmer and Yaron.
The Survival of the Welfare State, American Economic Review, March 2003, vol. 93 (1), pp. 87-112, with Hassler, Rodriguez-Mora and Zilibotti.
Sustaining Fiscal Policy Through Immigration, Journal of Political Economy, 2000, vol. 108 (2), pp. 300-23.

Heathcote, J; Storesletten, Kjetil & Violante, GL (2020). Optimal Progressivity with Age-Dependent Taxation. Journal of Public Economics. ISSN 0047-2727. . doi: https://doi.org/10.1016/j.jpubeco.2019.104074
Nyborg, Karine; Harstad, Bård Gjul; Holden, Steinar; Nilssen, Tore & Storesletten, Kjetil (2019). Plan S and the Economics of Scientific Journal Publishing. Journal of Peer Production. ISSN 2213-5316. (13) Full text in Research Archive.
Storesletten, Kjetil; Zilibotti, Fabrizio & Müller, Andreas (2019). Sovereign Debt and Structural Reforms. The American Economic Review. ISSN 0002-8282. 109(12), s 4220- 4259 . doi: 10.1257/aer.20161457 Full text in Research Archive.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Giovanni l. (2017). Optimal Tax Progressivity: An Analytical Framework. Quarterly Journal of Economics. ISSN 0033-5533. 132(4), s 1693- 1754 . doi: 10.1093/qje/qjx018 Full text in Research Archive. Show summary
What shapes the optimal degree of progressivity of the tax and transfer system? On the one hand, a progressive tax system can counteract inequality in initial conditions and substitute for imperfect private insurance against idiosyncratic earnings risk. On the other hand, progressivity reduces incentives to work and to invest in skills, distortions that are especially costly when the government must finance public goods. We develop a tractable equilibrium model that features all of these trade-offs. The analytical expressions we derive for social welfare deliver a transparent understanding of how preference, technology, and market structure parameters influence the optimal degree of progressivity. A calibration for the U.S. economy indicates that endogenous skill investment, flexible labor supply, and the desire to finance government purchases play quantitatively similar roles in limiting optimal progressivity. In a version of the model where poverty constrains skill investment, optimal progressivity is close to the U.S. value. An empirical analysis on cross-country data offers support to the theory.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Giovanni l. (2017). The Macroeconomics of the Quiet Revolution : Understanding the implications of the rise in women's participation for economic growth and inequality. Research in Economics. ISSN 1090-9443. 71(3), s 521- 539 . doi: 10.1016/j.rie.2017.03.002 Full text in Research Archive. Show summary
We study the impact of the rise in female labor supply on the economic performance of the United States over the period 1967–2002 through the lens of a calibrated structural model. The model features all the key forces behind the increase in female participation (the “Quiet Revolution”): (1) the decline in marriage rates, (2) the narrowing gender wage gap, (3) the preference (or cultural) shift towards market work, and (4) the change in women’s bargaining power within the household. We find that preference shifts and the rise in relative wages of women were the most important driving forces behind rising women’s participation, while changes in marriage patterns have also had a sizeable effect. We conclude that half of the growth in US earnings per capita over this period can be traced to growth in female labor supply. We also find that the rise in female labor supply has had offsetting effects on income inequality and, therefore, its overall role has been negligible relative to skill-biased demand shifts and rising residual wage volatility.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). The political color of fiscal responsibility. Journal of the European Economic Association. ISSN 1542-4766. 14(1), s 252- 302 . doi: 10.1111/jeea.12154
Song, Zheng; Storesletten, Kjetil; Wang, Yikai & Zilibotti, Fabrizio (2015). Sharing High Growth Across Generations: Pensions and Demographic Transition in China. American Economic Journal: Macroeconomics. ISSN 1945-7707. 7(2), s 1- 39 . doi: 10.1257/mac.20130322 Full text in Research Archive.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Giovanni l. (2014). Consumption and labor supply with partial insurance: An analytical framework. The American Economic Review. ISSN 0002-8282. 104(7), s 2075- 2126 . doi: 10.1257/aer.104.7.2075 Full text in Research Archive.
Song, Zheng; Storesletten, Kjetil & Zilibotti, Fabrizio (2014). Growing (with Capital controls) like China. IMF Economic Review. ISSN 2041-4161. 62(3), s 327- 370 . doi: 10.1057/imfer.2014.18

View all works in Cristin

Asheim, Geir Bjarne; Christiansen, Vidar; Hoel, Michael; Lund, Diderik; Mehlum, Halvor; Nyborg, Karine; Storesletten, Kjetil & Ulltveit-Moe, Karen Helene (2020). Subsidier til oljenæringen gir ikke omstilling. Aftenposten.no.
Harding, Torfinn; Mogstad, Magne; Moxnes, Andreas & Storesletten, Kjetil (2020). Feil å "gjøre alt som trengs" - må finne ut "hva som trengs". Dagens næringsliv. ISSN 0803-9372.
Henriksen, Espen & Storesletten, Kjetil (2020). Selge? Eller kjøpe? Investeringsråd i tider med koronavirus og oljepriskollaps. Dagens næringsliv. ISSN 0803-9372.
Juel, Steinar & Storesletten, Kjetil (2020). Kan en rik person bli sjef for Oljefondet?. VG : Verdens gang. ISSN 0805-5203.
Juel, Steinar & Storesletten, Kjetil (2020). Nicolai Tangen er rett person. Dagens næringsliv. ISSN 0803-9372.
Juel, Steinar & Storesletten, Kjetil (2020). Nicolai Tangen er rett person for Oljefondet. Dagens næringsliv. ISSN 0803-9372.
Storesletten, Kjetil (2020, 11. februar). Paneldebatt: «Kva slags konsekvensar gir ein grunnrenteskatt? Kvifor/kvifor ikkje 40%? Kva alternativ finst?». [TV]. NRK.
Nyborg, Karine; Nilssen, Tore; Holden, Steinar; Storesletten, Kjetil & Harstad, Bård Gjul (2019). Åpen tilgang fjerner ikke forlagenes makt. Aftenposten (morgenutg. : trykt utg.). ISSN 0804-3116.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective.
Storesletten, Kjetil (2019). Dissecting idiosyncratic labor-income risk.
Storesletten, Kjetil (2019). Dissecting idiosyncratic labor-income risk.
Storesletten, Kjetil (2019). How should tax progressivity respond to rising inequality?.
Storesletten, Kjetil (2019). How should tax progressivity respond to rising inequality?.
Storesletten, Kjetil (2019). Optimal Progressivity with Age-Dependent Taxation.
Thoresen, Thor Olav; Ognedal, Tone; Storesletten, Kjetil & Raaum, Oddbjørn (2019). Uformelle diskusjoner om skatt.
Storesletten, Kjetil (2018). How progressive should taxes be?.
Storesletten, Kjetil; Holter, Hans; Halvorsen, Elin & Ozkan, Serdar (2018). Dissecting Idiosyncratic Income Risk.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2017). Sovereign Debt and Structural Reforms.
Storesletten, Kjetil (2017, 01. september). Hva har vært det viktigste for å unngå en enda større ledighetskrise etter oljeprisfallet?. Klassekampen. Show summary
– Kronekursen har vært viktig. Den skifter etterspørselen fra import til innenlandsk produksjon, og styrker eksporten. Men i tillegg til denne klassiske skolebokvirkningen, har kronekursen også virket via en annen mekanisme som er vel så viktig. Arbeidsinnvandrerne kommer til Norge fordi de kan tjene god penger her, og når verdien på kronen har falt med 20 prosent, blir lønnen for dem betydelig mindre verdt. Nettoinnvandringen har derfor falt, og det blir mindre press i arbeidsmarkedet. Oljeprisfallet har redusert både tilbudet og etterspørselen etter arbeidskraft. – Næringslivet har også vist seg mer fleksibelt og bedre til å omstille seg enn mange hadde trodd. Næringslivet på Vestlandet har ikke falt sammen som et korthus med lavere oljepris, og det viser at bedriftene der ikke kun avhenger av oljen. – Moderat lønnsoppgjør har også vært viktig. Skattelettene og finanspolitikken har hatt mindre å si, men det er klart at det ville blitt tyngre om myndighetene hadde kuttet i utgifter og økt skattene.
Storesletten, Kjetil (2017, 15. desember). Kilder til VG: Siv Jensens toppbyråkrat ville endre SSB. [Internett]. VG Nett. Show summary
Professor Kjetil Storesletten var med, og anbefalte at SSB avvikler flere sentrale modeller i byrået. - Det jeg anbefalte for SSB i Bye-utvalget var helt klart inspirert av endringene i Norges Bank, sier han og presiserer at hele utvalget var med. Storesletten vil ikke kommentere Holmsens syn på endringene i SSB, men understreker at han har stor respekt for ham som fagmann.
Storesletten, Kjetil (2017, 30. oktober). Mener Frps antydninger om SSB har konspiratorisk islett. [Tidsskrift]. Minerva.
Storesletten, Kjetil (2017, 29. mars). Nyttig å regne på innvandring. Dagsavisen. Show summary
Norge må vise fram kostnadene av innvandring, mener flere ledende økonomer. Men lederen av finanskomiteen advarer Siv Jensen mot å bruke perspektivmeldingen til å fremme Frp-politikk.
Storesletten, Kjetil (2017, 13. desember). Professor slakter LO og NHOs involvering i SSB-saken. [Internett]. VG Nett.
Storesletten, Kjetil (2017, 11. desember). SSB-forskere støttet Meyer. [Internett]. VG Nett.
Storesletten, Kjetil (2017, 06. juli). Slakter Sivs skattestunt. Klassekampen. Show summary
Regjeringen har innført ny ordning for frivillig skattebetaling og mener tilhengere av økt skatt bør bla opp. – En dum gimmick, sier økonomiprofessor Kjetil Storesletten.
Storesletten, Kjetil (2017). The Distributions of Income and Consumption Risk: Evidence from Norwegian Registry Data.
Storesletten, Kjetil (2017, 10. november). Urettferdig at SSB-sjefen må gå. [Radio]. P4.
Storesletten, Kjetil (2017, 10. november). Urettferdig at SSB-sjefen må gå, mener professor. [Internett]. NRK. Show summary
Professor Kjetil Storesletten, som satt i utvalget som foreslo omorganiseringen i SSB, mener det både er synd og urettferdig at SSB-sjef Christine Meyer nå går av. - Meyer tok fatt i den jobben som andre i SSB burde gjort for 30-40 år siden.
Storesletten, Kjetil; Brandt, Loren & Kambourov, Gueorgui (2017). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Brandt, Loren; Kambourov, Gueorgui & Storesletten, Kjetil (2016). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Brandt, Loren; Kambourov, Gueorgui & Storesletten, Kjetil (2016). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Brandt, Loren; Kambourov, Gueorgui & Storesletten, Kjetil (2016). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Brandt, Loren; Kambourov, Gueorgui & Storesletten, Kjetil (2016). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Brandt, Loren; Kambourov, Gueorgui & Storesletten, Kjetil (2016). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Gianluca (2016). Optimal Progressivity with Age-Dependent Taxation.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Giovanni l. (2016). Optimal Tax Progressivity: An Analytical Framework.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Giovanni l. (2016). Optimal Tax Progressivity: An Analytical Framework.
Heathcote, Jonathan; Storesletten, Kjetil & Violante, Giovanni l. (2016). Optimal Tax Progressivity: An Analytical Framework.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2016). Sovereign debt and structural reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt and Structural Reforms.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). Sovereign Debt, Risk Sharing, and Austerity Programs.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). The Political Color of Fiscal Responsibility.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2015). The Political Color of Fiscal Responsibility.
Song, Zheng; Storesletten, Kjetil; Wang, Yikai & Zilibotti, Fabrizio (2015). Sharing High Growth Across Generations: Pensions and Demographic Transition in China.
Storesletten, Kjetil (2015, 15. oktober). "Dagsnytt 18" om skattesystemet. [Radio]. NRK.
Storesletten, Kjetil (2015). Dyrt og dårlig prinsipp. Dagens næringsliv. ISSN 0803-9372.
Storesletten, Kjetil (2015, 30. september). "Ekko" om vekst og innovasjon. [Radio]. NRK.
Storesletten, Kjetil (2015). Heterogeneity in Macroeconomics.
Storesletten, Kjetil (2015). Kinas Vekst.
Storesletten, Kjetil (2015). Kinas Vekst.
Storesletten, Kjetil (2015, 13. juli). "Nyhetsmorgen" om gjeldskrisen i Hellas. [Radio]. NRK.
Storesletten, Kjetil (2015). Omstilling etter Oljekrisen.
Storesletten, Kjetil; Brandt, Loren & Kambourov, Gueorgui (2015). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Storesletten, Kjetil; Brandt, Loren & Kambourov, Gueorgui (2015). Firm Entry and Regional Growth Disparities: the Effect of SOEs in China.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2014). Sovereign Debt, Risk Sharing, and Austerity Programs.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2014). The Political Color of Fiscal Responsibility.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2014). The Political Color of Fiscal Responsibility.
Müller, Andreas; Storesletten, Kjetil & Zilibotti, Fabrizio (2014). The Political Color of Fiscal Responsibility.
Storesletten, Kjetil (2014, 04. desember). “Debatten” om skattesystemet. [TV]. NRK.

View all works in Cristin

Published Nov. 4, 2010 2:54 PM - Last modified Nov. 5, 2020 1:00 PM

Kjetil Storesletten

Academic Interests

Courses taught

Background

Appointments

Awards

Publications

Projects

Visiting address

Mail address

Phone, fax, e-mail

Kjetil Storesletten

Academic Interests

Courses taught

Background

Appointments

Awards

Publications

Projects

Completed projects