Now showing items 1-4 of 4

    • A Behavioral New Keynesian Model 

      Gabaix, Xavier (2016)
      This paper presents a framework for analyzing how bounded rationality affects monetary and fiscal policy. The model is a tractable and parsimonious enrichment of the widely-used New Keynesian model – with one main new ...
    • The Dynamics of Inequality 

      Gabaix, Xavier; Lasry, Jean-Michel; Lions, Pierre-Louis; Moll, Benjamin (The Econometric Society, 2016)
      The past forty years have seen a rapid rise in top income inequality in the United States. While there is a large number of existing theories of the Pareto tail of the long-run income distributions, almost none of these ...
    • Executive Compensation: A Modern Primer 

      Edmans, Alex; Gabaix, Xavier (American Economic Association, 2016)
      This article studies traditional and modern theories of executive compensation, bringing them together under a simple unifying framework accessible to the general-interest reader. We analyze assignment models of the level ...
    • Power Laws in Economics: An Introduction 

      Gabaix, Xavier (American Economic Association, 2016)
      Many of the insights of economics seem to be qualitative, with many fewer reliable quantitative laws. However a series of power laws in economics do count as true and nontrivial quantitative laws—and they are not only ...