Publications
The Precautionary Saving Effect of Government Consumption (30/10/2018)
PAVONI NICOLA (joint with Valerio Ercolani)
BE Journal of Macroeconomics (Frontiers)
We study a largely neglected channel through which government expenditures can boost private consumption. We set up a dynamic model in which households are subject to health shocks. We take the model to the data and estimate a negative impact of public health care on household consumption dispersion, wealth and saving. According to our model, this result is explained by a change in the level of precautionary saving, with public health care acting as a form of consumption insurance. We compute the implied consumption multipliers by simulating the typical government consumption shock within a calibrated general equilibrium version of our model, with flexible prices. The impact consumption multiplier generated by the decrease in the level of precautionary saving is positive and sizable. When we include the effect of taxation, the sign of the impact multiplier depends on a few features of the model, such as the persistence of the health shocks. The long-run cumulative multiplier is negative across all calibrations.
Last change 15/11/2018
The Dual Approach to Recursive Optimization: Theory and Examples (2018)
PAVONI NICOLA (Joint with C. Sleet and M. Messner)
Econometrica
Last change 15/11/2018
The Evolution of Belief Ambiguity During the Process of High School Choice (2017)
PAVONI NICOLA (joint with Pamela Giustinelli)
Review of Economic Dynamics
Last change 15/11/2018
Intergenerational Disagreement and Optimal Taxation of Parental Transfers (2016)
PAVONI NICOLA (joint with Hakki Yazici)
Review of Economic Studies
Last change 15/11/2018
The Design of `Soft' Welfare Programs (20/03/2016)
PAVONI NICOLA (joint with O. Setty and G. Violante)
Review of Economic Dynamics
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Last change 15/11/2018
Optimal Income Taxation when Asset Taxation is Limited (05/03/2016)
PAVONI NICOLA (joint with A. Ábráham and S. Koehne)
Journal of Public Economics,
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Last change 15/11/2018
Optimal Life-cycle Capital Taxation under Self-Control Problems (forthcoming)
Recursive Methods for Incentive Problems (10/2012)
PAVONI NICOLA with M. Messner & C. Sleet
Review of Economic Dynamics 15(4), October: 501-525
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Last change 15/11/2018
Risk Sharing in Private Information Models with Asset Accumulation: Explaining the Excess Smoothness of Consumption (07/2011)
PAVONI NICOLA with O. Attanasio
Econometrica 79(4), July: 1027-1068
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Last change 28/11/2012
On the First-order Approach in Principal-Agent Models with Hidden Borrowing and Lending (07/2011)
PAVONI NICOLA with A. Abraham and S. Koehne
Journal of Economic Theory 146(4), July: 1331-1361
Last change 15/11/2018
Optimal Unemplyment Insurance with Human Capital Depreciation and Duration Dependence (05/2009)
Efficient Allocation with Moral Hazard and Hidden Borrowing and Lending (10/2008)
PAVONI NICOLA with A. Abraham
the Review for Economic Dynamics, 11, October:781-803
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Last change 21/11/2011
Social Preferences, Skill Segregation and Wage Dynamics (01/2008)
PAVONI NICOLA with A. Cabrales and A. Calvo-Armengol
Review of Economic Studies, 75, January: 65-98
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Last change 15/11/2018
Optimal Welfare-to-Work Programs (01/2007)
PAVONI NICOLA with G. Violante
Review of Economic Studies, 74, january: 238-318
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Last change 15/11/2018
On Optimal Unemployment Compensation (2007)
The Efficient Allocation of Consumption under Moral Hazard and Hidden Access to the Credit Market (2005)
PAVONI NICOLA with A. Abraham
Journal of the European Economic Association
Last change 15/11/2018
Optimal Income Taxation and Hidden Borrowing and Lending: The First-Order Approach in Two Periods (2008)
PAVONI NICOLA with A. Abraham
Carlo Alberto Notebooks, No. 102
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Last change 21/11/2011
On the recursive Saddle Point Method (2004)
PAVONI NICOLA with Matthias Messner
IGIER-Bocconi University Workig Paper no. 255
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Last change 21/11/2011
Innefficiencies in Dynamic Family Decisions: An incomplete Contracts Approach to Labor Supply (1998)
PAVONI NICOLA
Center of Household, Income, Labor ad Demographic Economics
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Last change 21/11/2011
Last change 08/09/2011