My macroeconomic research is primarily in the macro-labor field and has led to a prominent theory of structural unemployment, a contribution to a new aggregation theory of labor supply, and the discovery of a unifying channel of unemployment dynamics in matching models of the labor market.

I teach macroeconomics at the undergraduate and PhD level. My textbook with Thomas J. Sargent, Recursive Macroeconomic Theory (MIT Press), currently in its fourth edition, is widely used in PhD programs around the world.

I have served as an Associate Editor at the European Economic Review, the Journal of the European Economic Association, and the Review of Economic Dynamics.

My present other affiliations are Global Distinguished Professor of Economics at New York University (since 2006) and Research Fellow at CEPR (since 1999).

Selected publications

“The Fundamental Surplus Strikes Again,” with Thomas J. Sargent, Review of Economic Dynamics, vol. 41, 2021, pp. 38-51.

“Public Sector Employment and the Skill Premium: Sweden versus the United States 1970-2012,” with David Domeij, Scandinavian Journal of Economics, vol. 121, no. 1, 2019, pp. 3-31. [SJE Prize for the Best Paper of 2019]

“The Fundamental Surplus,” with Thomas J. Sargent, American Economic Review, vol. 107(9), 2017, pp. 2630-2665.

“Comment on the Campbell-Cochrane Habit Model,” with Harald Uhlig, Journal of Political Economy, vol. 123, no. 5, 2015, pp. 1201-1213.

“Career length: Effects of curvature of earnings profiles, earnings shocks, taxes, and social security,” with Thomas J. Sargent, Review of Economic Dynamics, vol. 17(1), 2014, pp. 1-20.

“A Labor Supply Elasticity Accord?” with Thomas J. Sargent, American Economic Review, vol. 101(3), 2011, pp. 487-491.

“Two Questions about European Unemployment,” with Thomas J. Sargent, Econometrica, vol. 76, 2008, pp. 1-29.

“Do Taxes Explain European Employment? Indivisible Labor, Human Capital, Lotteries, and Savings” with Thomas J. Sargent, NBER Macroeconomics Annual, eds. D. Acemoglu, K. Rogoff and M. Woodford, Cambridge, Massachusetts, MIT Press, 2006.

“How Do Layoff Costs Affect Employment?” Economic Journal, vol. 112, 2002, pp. 829-853.

“Tax Policy and Aggregate Demand Management Under Catching Up with the Joneses,” with Harald Uhlig, American Economic Review, vol. 90, 2000, pp. 356-366.

“The European Unemployment Dilemma,” with Thomas J. Sargent, Journal of Political Economy, vol. 106, 1998, pp. 514-550.

”Welfare States and Unemployment,” with Thomas J. Sargent, Economic Theory, vol 6, 1995, pp 143-160.

”The Swedish Unemployment Experience,” with Thomas J. Sargent, European Economic Review, vol 39, 1995, pp 1043-1070.

“A Unified Approach to Measures of Privacy in Randomized Response Models: A Utilitarian Perspective,” Journal of the American Statistical Association, vol. 88, 1993, pp. 97-103.

“Economic Underdevelopment: The Case of a Missing Market for Human Capital,” Journal of Development Economics, vol. 40, 1993, pp. 219-239. [Reprinted in Readings in Development Economics - Volume 1, eds. Pranab Bardhan and Christopher Udry, Cambridge, MA: MIT Press, 2000.]