Giovanni L. Violante

TL;DR: In this article, a version of the neoclassical growth model is used in which the key feature of aggregate technology is capital-skill complementarity: the elasticity of substitution is higher between capital equipment and unskilled workers than between skilled workers and capital equipment.

TL;DR: In this paper, the authors develop a framework that provides a simple, explicit economic mechanism for understanding skill-biased technological change in terms of observable variables and use the framework to evaluate the fraction of variation in the skill premium that can be accounted for by changes in observed factor quantities.

TL;DR: In this article, all data and codes necessary to replicate results of the article were provided, including the data for figures, and all the data and code necessary to verify the results.

TL;DR: In this article, the authors revisited the transmission mechanism from monetary policy to household consumption in a Heterogeneous Agent New Keynesian (HANK) model and found that the indirect effects of an unexpected cut in interest rates, which operate through a general equilibrium increase in labor demand, far outweigh direct effects such as intertemporal substitution.

TL;DR: This article conducted a systematic empirical study of cross-sectional inequality in the United States, integrating data from the Current Population Survey, the Panel Study of Income Dynamics, the Consumer Expenditure Survey, and the Survey of Consumer Finances.