Details about Carlos Garriga

E-mail:
Homepage:	https://sites.google.com/site/garrigacarlos/
Workplace:	Research Division, Federal Reserve Bank of St. Louis, (more information at EDIRC)

Access statistics for papers by Carlos Garriga.

Last updated 2025-01-08. Update your information in the RePEc Author Service.

Short-id: pga130

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Working Papers

2023

1. Amazon HQ2: A Tale of Shocks to Housing Price Expectations
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
2. Compensation Patterns of Overemployed Workers
   On the Economy, Federal Reserve Bank of St. Louis
3. Overemployed Workers? Trends on Multiple Jobholders
   On the Economy, Federal Reserve Bank of St. Louis

2022

4. Optimal Management of an Epidemic: Lockdown, Vaccine and Value of Life
   Working Papers, Federal Reserve Bank of St. Louis View citations (2)
   Also in Working Papers, Human Capital and Economic Opportunity Working Group (2020) View citations (25)
   See also Journal Article Optimal management of an epidemic: Lockdown, vaccine and value of life, Journal of Economic Dynamics and Control, Elsevier (2022) View citations (10) (2022)

2021

5. Raising College Access and Completion: How Much Can Free College Help?
   Borradores de Economia, Banco de la Republica de Colombia
   Also in Policy Research Working Paper Series, The World Bank (2020)
6. The Yield Curve as a Predictor of Future Growth
   On the Economy, Federal Reserve Bank of St. Louis

2020

7. House Hunting in a Period of Social Distancing
   On the Economy, Federal Reserve Bank of St. Louis
8. How Closing Restaurants and Hotels Spills Over to Total Employment
   On the Economy, Federal Reserve Bank of St. Louis
9. Ready for the Pandemic? Household Debt before the COVID-19 Shock
   On the Economy, Federal Reserve Bank of St. Louis
10. Rural-Urban Migration and House Prices in China
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Rural-urban migration and house prices in China, Regional Science and Urban Economics, Elsevier (2021) View citations (5) (2021)

2019

11. Crises in the Housing Market: Causes, Consequences, and Policy Lessons
    Working Papers, Federal Reserve Bank of St. Louis
12. Housing Dynamics without Homeowners. The Role of I
    2019 Meeting Papers, Society for Economic Dynamics
13. MoNK: Mortgages in a New-Keynesian Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    Also in Discussion Papers, Centre for Macroeconomics (CFM) (2019) View citations (5)
    Working Papers, Federal Reserve Bank of St. Louis (2019) View citations (3)
    See also Journal Article MoNK: Mortgages in a New-Keynesian model, Journal of Economic Dynamics and Control, Elsevier (2021) View citations (8) (2021)
14. Rural-Urban Migration, Structural Transformation, and Housing Markets in China
    2019 Meeting Papers, Society for Economic Dynamics
    Also in Working Papers, Federal Reserve Bank of St. Louis (2014) View citations (21)
    NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (31)
    See also Journal Article Rural-Urban Migration, Structural Transformation, and Housing Markets in China, American Economic Journal: Macroeconomics, American Economic Association (2023) View citations (7) (2023)

2018

15. A General Equilibrium Analysis of College Enrollment, Completion, and Labor Market Outcomes
    2018 Meeting Papers, Society for Economic Dynamics View citations (1)
16. Housing Finance, Boom-Bust Episodes, and Macroeconomic Fragility
    2018 Meeting Papers, Society for Economic Dynamics View citations (2)

2017

17. Identifying "Default Thresholds" in Consumer Liabilities Using High Frequency Data
    2017 Meeting Papers, Society for Economic Dynamics
18. Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession
    Working Papers, Federal Reserve Bank of St. Louis View citations (34)
    Also in 2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (9)
    See also Journal Article Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession, American Economic Review, American Economic Association (2020) View citations (66) (2020)
19. Optimal Fiscal Policy in Overlapping Generations Models
    Working Papers, Federal Reserve Bank of St. Louis View citations (10)
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (23)
    Working Papers in Economics, Universitat de Barcelona. Espai de Recerca en Economia (2001) View citations (47)
    See also Journal Article Optimal Fiscal Policy in Overlapping Generations Models, Public Finance Review (2019) View citations (6) (2019)

2016

20. Mortgages and Monetary Policy
    Discussion Papers, Centre for Macroeconomics (CFM) View citations (19)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2015) View citations (4)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2013) View citations (33)
    2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (10)
    Working Papers, Queen Mary University of London, School of Economics and Finance (2015) View citations (9)
    NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (55)
    Working Papers, Federal Reserve Bank of St. Louis (2013) View citations (5)
    See also Journal Article Mortgages and Monetary Policy, The Review of Financial Studies, Society for Financial Studies (2017) View citations (57) (2017)
21. Nominal Rigidities in Debt and Product Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    Also in Working Papers, Queen Mary University of London, School of Economics and Finance (2016) View citations (6)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2016) View citations (8)
    Discussion Papers, Centre for Macroeconomics (CFM) (2016) View citations (8)
    Working Papers, Federal Reserve Bank of St. Louis (2016) View citations (8)
22. The Postwar Conquest of the Home Ownership Dream
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)
    Also in Working Papers, Towson University, Department of Economics (2016) View citations (2)
23. Theory of College, Student Loans, and Education Policy
    2016 Meeting Papers, Society for Economic Dynamics

2015

24. Aggregate and Distributional Dynamics of Consumer Credit in the U. S
    2015 Meeting Papers, Society for Economic Dynamics View citations (1)
25. Generational Policy and the Macroeconomic Measurement of Tax Incidence
    Working Papers, Barcelona School of Economics
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009)

2014

26. Rural-Urban Migration, Structural Change, and Housing Markets in China
    2014 Meeting Papers, Society for Economic Dynamics View citations (5)

2013

27. A General Equilibrium Theory of College with Education Subsidies, In-School Labor Supply, and Borrowing Constraints
    Working Papers, Human Capital and Economic Opportunity Working Group
    Also in Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (15)
    2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (9)
28. Did Housing Policies Cause the Postwar Boom in Homeownership?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2012) View citations (2)
    See also Chapter Did Housing Policies Cause the Postwar Boom in Home Ownership?, NBER Chapters, National Bureau of Economic Research, Inc (2014) View citations (5) (2014)
29. Intergenerational policy and the measurement of tax incidence
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Intergenerational policy and the measurement of tax incidence, European Economic Review, Elsevier (2016) View citations (10) (2016)

2012

30. A model of price swings in the housing market
    Working Papers, Federal Reserve Bank of St. Louis View citations (36)
31. Bubbles or Fundamentals? Understanding Boom and Bust Episodes in the Housing Market
    2012 Meeting Papers, Society for Economic Dynamics View citations (2)
32. Demographics, Redistribution, and Optimal Inflation
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (38)
    Also in Speech, Federal Reserve Bank of St. Louis (2012) View citations (11)
    See also Journal Article Demographics, redistribution, and optimal inflation, Review, Federal Reserve Bank of St. Louis (2012) View citations (11) (2012)
33. Reconstructing the great recession
    Working Papers, Federal Reserve Bank of St. Louis View citations (8)
    See also Journal Article Reconstructing the Great Recession, Review, Federal Reserve Bank of St. Louis (2020) (2020)
34. The New Deal, the GI Bill, and the Post-War Housing
    2012 Meeting Papers, Society for Economic Dynamics View citations (1)

2011

35. Did Housing Policies Cause the Post-War Boom in Homeownership? A General Equilibrium Analysis
    Working Papers, Towson University, Department of Economics View citations (5)
    Also in 2011 Meeting Papers, Society for Economic Dynamics (2011) View citations (4)

2010

36. Housing Boom and Bust Cycles
    2010 Meeting Papers, Society for Economic Dynamics View citations (1)
37. The Role of Construction in the Housing Boom and Bust in Spain
    Working Papers, FEDEA View citations (13)

2009

38. Estate taxation with warm-glow altruism
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)
    See also Journal Article Estate taxation with warm-glow altruism, Portuguese Economic Journal, Springer (2009) View citations (5) (2009)
39. Indirect taxation and the welfare effects of altruism on the optimal fiscal policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Indirect taxation and the welfare effects of altruism on the optimal fiscal policy, Economic Modelling, Elsevier (2009) View citations (1) (2009)
40. The Design of Foreclosure Punishments: You Just Cannot Walk Away!
    2009 Meeting Papers, Society for Economic Dynamics View citations (1)
41. The loan structure and housing tenure decisions in an equilibrium model of mortgage choice
    Working Papers, Federal Reserve Bank of St. Louis View citations (85)
    See also Journal Article The Loan Structure and Housing Tenure Decisions in an Equilibrium Model of Mortgage Choice, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2009) View citations (90) (2009)

2008

42. Foreclosures and House Prices
    2008 Meeting Papers, Society for Economic Dynamics
43. Generational Policy and the Measurement of Tax Incidence
    2008 Meeting Papers, Society for Economic Dynamics
44. The tax treatment of homeowners and landlords and the progressivity of income taxation
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (1)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (6)

2007

45. Accounting for changes in the homeownership rate
    Working Papers, Federal Reserve Bank of St. Louis View citations (9)
    Also in CIRJE F-Series, CIRJE, Faculty of Economics, University of Tokyo (2004) View citations (8)
    Computing in Economics and Finance 2005, Society for Computational Economics (2005) View citations (53)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2007) View citations (3)
    See also Journal Article ACCOUNTING FOR CHANGES IN THE HOMEOWNERSHIP RATE, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2009) View citations (153) (2009)
46. Equilibrium mortgage choice and housing tenure decisions with refinancing
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2007) View citations (3)
47. Mortgage contracts and housing tenure decisions
    Working Papers, Federal Reserve Bank of St. Louis View citations (8)
48. Optimal fiscal policy in the design of Social Security reforms
    Working Papers, Federal Reserve Bank of St. Louis View citations (8)
    See also Journal Article OPTIMAL FISCAL POLICY IN THE DESIGN OF SOCIAL SECURITY REFORMS, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2008) View citations (69) (2008)
49. Optimal response to a transitory demographic shock in Social Security financing
    Working Papers, Federal Reserve Bank of St. Louis View citations (3)
    See also Journal Article Optimal response to a transitory demographic shock in Social Security financing, Review, Federal Reserve Bank of St. Louis (2009) View citations (9) (2009)
50. Optimal taxation with imperfect competition and aggregate returns to specialization
    Working Papers, Federal Reserve Bank of St. Louis View citations (14)
    See also Journal Article Optimal Taxation with Imperfect Competition and Aggregate Returns to Specialization, Journal of the European Economic Association, MIT Press (2007) View citations (23) (2007)

2005

51. Optimal Response to a Demographic Shock
    CESifo Working Paper Series, CESifo
    Also in Working Papers, Barcelona School of Economics (2004) View citations (1)

2004

52. Homeownership and Public Housing Policy
    2004 Meeting Papers, Society for Economic Dynamics View citations (1)
53. Optimal Design of Social Security Reforms
    Working Papers, Barcelona School of Economics View citations (3)
54. Optimal taxation with imperfect competition and increasing returns to specialization
    Working Papers, Department of Economics, City University London

2001

55. Sistema Fiscal y Reforma de la Seguridad Social
    Working Papers in Economics, Universitat de Barcelona. Espai de Recerca en Economia View citations (9)

1999

56. La financiacion del Sistema de Seguridad Social en Espana: Efectos dinamicos de una posible reforma
    Working Papers in Economics, Universitat de Barcelona. Espai de Recerca en Economia View citations (1)

1998

57. Reforma del sistema de seguridad social y adquisicion de formacion
    Working Papers in Economics, Universitat de Barcelona. Espai de Recerca en Economia View citations (1)
    See also Journal Article Reforma del sistema de seguridad social y adquisición de formación, Investigaciones Economicas, Fundación SEPI (2000) View citations (3) (2000)

Journal Articles

2024

1. The limited impact of free college policies
   European Economic Review, 2024, 168, (C)

2023

2. Rural-Urban Migration, Structural Transformation, and Housing Markets in China
   American Economic Journal: Macroeconomics, 2023, 15, (2), 413-40 View citations (7)
   See also Working Paper Rural-Urban Migration, Structural Transformation, and Housing Markets in China, 2019 Meeting Papers (2019) (2019)
3. The economic effects of real estate investors
   Real Estate Economics, 2023, 51, (3), 655-685

2022

4. Inflation, Part 1: What Is it, Exactly?
   Economic Synopses, 2022, (15), 1-3
5. Inflation, Part 2: How Do We Construct and Choose an Index?
   Economic Synopses, 2022, (16), 1-3
6. Inflation, Part 3: What Is the Fed’s Current Goal? Has the Fed Met Its Inflation Mandate?
   Economic Synopses, 2022, (25), 1-3
7. Optimal management of an epidemic: Lockdown, vaccine and value of life
   Journal of Economic Dynamics and Control, 2022, 140, (C) View citations (10)
   See also Working Paper Optimal Management of an Epidemic: Lockdown, Vaccine and Value of Life, Working Papers (2022) View citations (2) (2022)

2021

8. A Simple Evaluation of Two Decades of Inflation Targeting: Lessons for the New Monetary Policy Strategy
   Economic Synopses, 2021, (1), 1-3 View citations (1)
9. MoNK: Mortgages in a New-Keynesian model
   Journal of Economic Dynamics and Control, 2021, 123, (C) View citations (8)
   See also Working Paper MoNK: Mortgages in a New-Keynesian Model, NBER Working Papers (2019) View citations (5) (2019)
10. Putting Recent Inflation in Historical Context
    Economic Synopses, 2021, (12), 1-2
11. Rural-urban migration and house prices in China
    Regional Science and Urban Economics, 2021, 91, (C) View citations (5)
    See also Working Paper Rural-Urban Migration and House Prices in China, NBER Working Papers (2020) View citations (4) (2020)

2020

12. Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession
    American Economic Review, 2020, 110, (6), 1603-34 View citations (66)
    See also Working Paper Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession, Working Papers (2017) View citations (34) (2017)
13. Reconstructing the Great Recession
    Review, 2020, 102, (3), 271-311
    See also Working Paper Reconstructing the great recession, Working Papers (2012) View citations (8) (2012)
14. The Geography of Housing Market Liquidity During the Great Recession
    Review, 2020, 102, (1), 51-77 View citations (1)

2019

15. A Macroeconomic Model of Price Swings in the Housing Market
    American Economic Review, 2019, 109, (6), 2036-72 View citations (47)
16. Are U.S. Housing Markets Hot, Hot, Hot?
    Economic Synopses, 2019, (21)
17. Construction Permits and Future Housing Supply: Implications for 2020
    Economic Synopses, 2019, (27) View citations (1)
18. Optimal Fiscal Policy in Overlapping Generations Models
    Public Finance Review, 2019, 47, (1), 3-31 View citations (6)
    See also Working Paper Optimal Fiscal Policy in Overlapping Generations Models, Working Papers (2017) View citations (10) (2017)
19. Predicting the Yield Curve Inversions that Predict Recessions: Part 1
    Economic Synopses, 2019, (9) View citations (1)
20. Predicting the Yield Curve Inversions that Predict Recessions: Part 2
    Economic Synopses, 2019, (10) View citations (1)

2017

21. Household Debt and the Great Recession
    Review, 2017, 99, (2) View citations (3)
22. Mortgages and Monetary Policy
    The Review of Financial Studies, 2017, 30, (10), 3337-3375 View citations (57)
    See also Working Paper Mortgages and Monetary Policy, Discussion Papers (2016) View citations (19) (2016)
23. The Homeownership Experience of Minorities During the Great Recession
    Review, 2017, 99, (1), 139-167 View citations (3)

2016

24. Intergenerational policy and the measurement of tax incidence
    European Economic Review, 2016, 83, (C), 1-18 View citations (10)
    See also Working Paper Intergenerational policy and the measurement of tax incidence, Working Papers (2013) View citations (1) (2013)

2014

25. Measuring (Most of) the Slack in the Labor Market
    Economic Synopses, 2014, (22)
26. Where is the slack in the labor market?
    Economic Synopses, 2014, (13) View citations (1)

2013

27. Intertemporal discounting and policy selection
    Review, 2013, (Mar), 165-180 View citations (2)
28. Measuring the contribution of construction to the slow recovery
    Economic Synopses, 2013
29. Mind the regional output gap
    Economic Synopses, 2013
30. The macroeconomy of the U.S. states: on the road to recovery?
    Economic Synopses, 2013 View citations (1)

2012

31. Demographics, redistribution, and optimal inflation
    Review, 2012, (Nov), 419-440 View citations (11)
    See also Working Paper Demographics, Redistribution, and Optimal Inflation, IMES Discussion Paper Series (2012) View citations (38) (2012)
32. How can QE3 affect the housing market?
    Economic Synopses, 2012
33. Withdrawal history, private information, and bank runs
    Review, 2012, 94, (July), 305-320

2011

34. A primer on social security systems and reforms
    Review, 2011, 93, (Jan), 19-35 View citations (2)

2009

35. ACCOUNTING FOR CHANGES IN THE HOMEOWNERSHIP RATE
    International Economic Review, 2009, 50, (3), 677-726 View citations (153)
    See also Working Paper Accounting for changes in the homeownership rate, Working Papers (2007) View citations (9) (2007)
36. Estate taxation with warm-glow altruism
    Portuguese Economic Journal, 2009, 8, (2), 99-118 View citations (5)
    See also Working Paper Estate taxation with warm-glow altruism, Working Papers (2009) View citations (4) (2009)
37. Examining the housing crisis by home price tier
    Economic Synopses, 2009 View citations (1)
38. Housing policy and the progressivity of income taxation
    Journal of Monetary Economics, 2009, 56, (8), 1116-1134 View citations (72)
39. Indirect taxation and the welfare effects of altruism on the optimal fiscal policy
    Economic Modelling, 2009, 26, (6), 1365-1374 View citations (1)
    See also Working Paper Indirect taxation and the welfare effects of altruism on the optimal fiscal policy, Working Papers (2009) View citations (1) (2009)
40. Lending standards in mortgage markets
    Economic Synopses, 2009 View citations (2)
41. Optimal response to a transitory demographic shock in Social Security financing
    Review, 2009, 91, (Jan), 33-48 View citations (9)
    See also Working Paper Optimal response to a transitory demographic shock in Social Security financing, Working Papers (2007) View citations (3) (2007)
42. The Loan Structure and Housing Tenure Decisions in an Equilibrium Model of Mortgage Choice
    Review of Economic Dynamics, 2009, 12, (3), 444-468 View citations (90)
    See also Working Paper The loan structure and housing tenure decisions in an equilibrium model of mortgage choice, Working Papers (2009) View citations (85) (2009)
    Software Item Code files for "The Loan Structure and Housing Tenure Decisions in an Equilibrium Model of Mortgage Choice", Computer Codes (2009) (2009)

2008

43. A falling dollar raises inflation in the Gulf
    International Economic Trends, 2008, (Feb)
44. Boom & gloom in housing markets: the sequel
    National Economic Trends, 2008, (May)
45. Mortgage innovation, mortgage choice, and housing decisions
    Review, 2008, 90, (Nov), 585-608 View citations (1)
46. OPTIMAL FISCAL POLICY IN THE DESIGN OF SOCIAL SECURITY REFORMS
    International Economic Review, 2008, 49, (1), 291-318 View citations (69)
    See also Working Paper Optimal fiscal policy in the design of Social Security reforms, Working Papers (2007) View citations (8) (2007)

2007

47. Optimal Taxation with Imperfect Competition and Aggregate Returns to Specialization
    Journal of the European Economic Association, 2007, 5, (6), 1269-1299 View citations (23)
    See also Working Paper Optimal taxation with imperfect competition and aggregate returns to specialization, Working Papers (2007) View citations (14) (2007)

2006

48. Overconsumption, reference groups, and equilibrium efficiency
    Economics Letters, 2006, 91, (3), 420-424 View citations (6)
49. Recent trends in homeownership
    Review, 2006, 88, (Sep), 397-412 View citations (5)

2005

50. Un análisis de equilibrio general de dos propuestas de reforma de la seguridad social
    Investigaciones Economicas, 2005, 29, (1), 117-148

2003

51. STATUS QUO PROBLEM IN SOCIAL SECURITY REFORMS
    Macroeconomic Dynamics, 2003, 7, (5), 691-710 View citations (22)

2000

52. Reforma del sistema de seguridad social y adquisición de formación
    Investigaciones Economicas, 2000, 24, (2), 271-295 View citations (3)
    See also Working Paper Reforma del sistema de seguridad social y adquisicion de formacion, Working Papers in Economics (1998) View citations (1) (1998)

Chapters

2014

1. Did Housing Policies Cause the Postwar Boom in Home Ownership?
   A chapter in Housing and Mortgage Markets in Historical Perspective, 2014, pp 351-385 View citations (5)
   See also Working Paper Did Housing Policies Cause the Postwar Boom in Homeownership?, National Bureau of Economic Research, Inc (2013) View citations (3) (2013)

Software Items

2009

1. Code files for "The Loan Structure and Housing Tenure Decisions in an Equilibrium Model of Mortgage Choice"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article The Loan Structure and Housing Tenure Decisions in an Equilibrium Model of Mortgage Choice, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2009) View citations (90) (2009)

Editor

1. Review
   Federal Reserve Bank of St. Louis