Showing results 11 - 16 of 16
Fiscal Devaluations. Emmanuel Farhi, Gita Gopinath, August 29, 2013, Paper. "We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal…
A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy. Emmanuel Farhi, August 22, 2013, Paper. "The global economy has a chronic shortage of safe assets…
Fiscal Unions. Emmanuel Farhi, June 2013, Paper. "We study cross-country insurance for members of a currency union using an open economy model with nominal rigidities and provide…
Crash Risk in Currency Markets. Emmanuel Farhi, April 29, 2013, Paper. "Since the fall of 2008, option smiles have been clearly asymmetric: out-of-the-money currency options point…
Estate Taxation with Altruism Heterogeneity. Emmanuel Farhi, February 2013, Paper. "We develop a theory of optimal estate taxation in a model where bequest inequality is driven by…
Insurance and Taxation over the Life Cycle. Emmanuel Farhi, August 2012, Paper. "We consider a dynamic Mirrlees economy in a life-cycle context and study the optimal insurance…