Emmanuel Saez is Professor of economics and Director of the Center for Equitable Growth at the University of California, Berkeley. His research focuses on tax policy and inequality both from theoretical and empirical perspectives. Jointly with Thomas Piketty, he has constructed long-run historical series of income inequality in the United States that have been widely discussed in the public debate. He received his Ph.D. in economics from MIT in 1999. He was awarded the John Bates Clark medal of the American Economic Association in 2009 and a MacArthur Fellowship in 2010.
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In recent decades, advanced economies have experienced low and stable inflation and long periods of liquidity trap. We construct an alternative business-cycle model capturing these two features by adding two assumptions to a money-in-the-utility-function model: the labor market is subject to matching frictions, and real wealth enters the utility function. These assumptions modify the two core equations of the standard New Keynesian model
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Institute for New Economic Thinking-backed research into inequality explores how taxes and government policy have contributed to deepening economic inequality
It’s no secret that wealth inequality has grown, both in the US and abroad over the past several decades. What has been particularly notable about the work of Emmanuel Saez is the quantification of that inequality.