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Research and Education in Quantitative Macroeconomics with Focus on Inequality (INTPART MACRO)
The project with primary objective to formalize, strengthen and develop the cooperation in research and education between the economics departments at the University of Oslo, the University of Pennsylvania, the University of Minnesota, and the University of Toronto, within the field of quantitative macroeconomics and with a particular focus on inequality.
About the project
In line with our department strategy of belonging to the European elite in macroeconomics, and the University of Oslo's strategy to strengthen its international position as a leading research-intensive university through a close interaction between research and education, we are now aiming to formalize, strengthen and build out our collaboration with three world leading research groups, the University of Pennsylvania, USA, the University of Minnesota, USA, and the University of Toronto, Canada. They all have particular strengths in quantitative macroeconomics. Our goal is a long term collaboration which includes student mobility, exchange of research and teaching staff, joint articles and publications between researchers and/or students in the partnerships, development of teaching material, and a jointly organized conference.
PhD courses
Financing
The project is funded by The research Council of Norway under the Coordination and Support Activity call with NOK 2,2 million over a three year period, from 2020 to 2023.
Publications
Working Papers:
H. Holter, D. Krueger and S. Stepanchuk (2023). "Till the IRS Do US Part: Optimal Taxation of Households."
L. Brandt, G. Kambourov, S. Storesletten (2023). "Barriers to Entry and Regional Economic Growth in China."
L. Brandt, R. Dai, G. Kambourov, S. Storesletten, X. Chang (2022). "Serial Entrepreneurship in China."
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Halvorsen, Elin; Holter, Hans Åsnes; Ozkan, Serdar & Storesletten, Kjetil
(2023).
Dissecting Idiosyncratic Earnings Risk.
Journal of the European Economic Association.
ISSN 1542-4766.
22(2),
p. 617–668.
doi:
10.1093/jeea/jvad047.
Full text in Research Archive
Show summary
This paper examines whether nonlinear and non-Gaussian features of earnings dynamics are caused by hours or hourly wages. Our findings from the Norwegian administrative and survey data are as follows: (i) Nonlinear mean reversion in earnings is driven by the dynamics of hours worked rather than wages since wage dynamics are close to linear, while hours dynamics are nonlinear—negative changes to hours are transitory, while positive changes are persistent. (ii) Large earnings changes are driven equally by hours and wages, whereas small changes are associated mainly with wage shocks. (iii) Both wages and hours contribute to negative skewness and high kurtosis for earnings changes, although hour-wage interactions are quantitatively more important. (iv) When considering household earnings and disposable household income, the deviations from normality are mitigated relative to individual labor earnings: changes in disposable household income are approximately symmetric and less leptokurtic.
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Holter, Hans Åsnes; Krueger, Dirk & Stepanchuk, Serhiy
(2023).
Till the IRS Do Us Part: (Optimal) Taxation of Households.
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Halvorsen, Elin; Holter, Hans; Ozkan, Serdar & Storesletten, Kjetil
(2020).
Dissecting Idiosyncratic Earnings Risk.
Centre for Economic Policy Research. Discussion papers.
ISSN 0265-8003.
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Holter, Hans
(2020).
Dissecting Idiosyncratic Earnings Risk.
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Holter, Hans
(2020).
Dissecting Idiosyncratic Earnings Risk.
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Holter, Hans
(2020).
Dissecting Idiosyncratic Earnings Risk.
-
Holter, Hans
(2020).
Dissecting Idiosyncratic Risk.
View all works in Cristin
Published Nov. 2, 2023 10:53 AM
- Last modified Nov. 2, 2023 11:00 AM