Emmanuel Farhi

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Papers

Working Papers

• "Capital Taxation and Ownership when Markets are Incomplete", October 2009, revise and resubmit, Journal of Political Economy. [PDF]

• "The Political Economy of Non-Linear Capital Taxation", (joint with Ivan Werning), September 2008, revise and resubmit, Review of Economic Studies. [PDF]
  

• "Capital Taxation: Quantitative Explorations of the Inverse Euler Equation", (joint with Ivan Werning), February 2009. [PDF]
  

• "Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts", (joint with Jean Tirole), June 2009. [PDF]
  

• "Bubbly liquidity", (joint with Jean Tirole), October 2009. [PDF]
  

• "Rare Disasters and Exchange Rates", (joint with Xavier Gabaix), January 2008.[PDF]
  

• "Crash Risk in Currency Markets", (joint with Samuel Fraiberger, Xavier Gabaix, Romain Ranciere and Adrien Verdelhan), May 2009.[PDF]

• "Fear of Rejection? Tiered Certification and Transparency", (joint with Josh Lerner and Jean Tirole), October 2008. [PDF]

• "The Real Effects of Stock Market Mispricing at the Aggregate: Theory and Empirical Evidence", (joint with Stavros Panageas), September 2006. [PDF]
  
  

Publications

(Please download and print for personal use only)

• "Progressive Estate Taxation", (joint with Ivan Werning), July 2009, forthcoming, Quarterly Journal of Economics. [PDF]
  

• “­A Theory of Liquidity and Regulation of Financial Intermediation,” (joint with Mike Golosov and Aleh Tsyvinski), Review of Economic Studies, July 2009, Vol. 76(3). [PDF]

• "Leverage and the Central Banker's Put", (joint with Jean Tirole), American Economic Review, Papers and Proceedings, May 2009, Vol.99(2). [PDF]
• “Financial Crash, Commodity Prices, and Global Imbalances,” (joint with Ricardo Caballero and Pierre-Olivier Gourinchas), Brookings Papers on Economic Acticity, Fall 2008.[PDF]

• "Optimal Savings Distortions with Recursive Preferences," (joint with Ivan Werning), Journal of Monetary Economics , Carnegie Rochester Series, January 2008, Vol. 55(1). [PDF]

• "An Equilibrium Model of Global Imbalances and Low Interest Rates," (joint with Ricardo Caballero and Pierre-Olivier Gourinchas), American Economic Review, March 2008, Vol. 98(1)..[PDF]

• "Inequality and Social Discounting," (joint with Ivan Werning), Journal of Political Economy, Lead Article, June 2007, Vol. 115(3). [PDF]

• "Saving and Investing for Early Retirement: A Theoretical Analysis," (joint with Stavros Panageas), Journal of Financial Economics, 2007, Vol. 83(1). Winner of the Geewax, Terker Prize in Investment Research, Rodney L. White Center for Financial Research, 2005. [PDF]

• "Speculative Growth: Hints from the US Economy," (joint with Ricardo Caballero and Mohamad Hammour), American Economic Review, September 2006, Vol. 96(4). [PDF]

• "Certifying New Technologies," (joint with Josh Lerner and Jean Tirole), Journal of the European Economic Association, April-May 2005.

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