Details about Iván Werning

Access statistics for papers by Iván Werning.

Last updated 2025-04-24. Update your information in the RePEc Author Service.

Short-id: pwe141

Working Papers

2025

1. How Tariffs Affect Trade Deficits
   NBER Working Papers, National Bureau of Economic Research, Inc

2023

2. Chronicle of a Dollarization Foretold: Inflation and Exchange Rates Dynamics
   NBER Working Papers, National Bureau of Economic Research, Inc
3. Dollarization Dynamics
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
4. Inflation is Conflict
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)

2022

5. A Minimalist Model for the Ruble During the Russian Invasion of Ukraine
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
6. Expectations and the Rate of Inflation
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
7. Price Theory for Incomplete Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2020

8. Dynamic Oligopoly and Price Stickiness
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
   Also in 2018 Meeting Papers, Society for Economic Dynamics (2018)
9. Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (556)
10. Optimal Targeted Lockdowns in a Multi-Group SIR Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (189)

2018

11. Monetay Policy, Bounded Rationality, and Incomplete Markets
    2018 Meeting Papers, Society for Economic Dynamics View citations (8)
    Also in Working Paper, Harvard University OpenScholar (2017) View citations (64)
    NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (63)
12. Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (40)
13. Saving and Dissaving with Hyperbolic Discounting
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (37)
    Also in 2017 Meeting Papers, Society for Economic Dynamics (2017) View citations (7)
    See also Journal Article Saving and Dissaving With Hyperbolic Discounting, Econometrica, Econometric Society (2018) View citations (36) (2018)

2017

14. Fiscal Unions
    Working Paper, Harvard University OpenScholar View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (28)
    Working Paper, Harvard University OpenScholar (2014) View citations (5)
    See also Journal Article Fiscal Unions, American Economic Review, American Economic Association (2017) View citations (70) (2017)
15. The Lerner Symmetry Theorem: Generalizations and Qualifications
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)

2016

16. Dynamic Savings Choices with Disagreements
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
17. Incomplete Markets and Aggregate Demand
    2016 Meeting Papers, Society for Economic Dynamics View citations (9)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (187)
18. Micro to Macro: Optimal Trade Policy with Firm Heterogeneity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
19. Mirrlees Meets Diamond-Mirrlees
    CESifo Working Paper Series, CESifo View citations (21)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (22)
    NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (21)
20. Take the Short Route: Equilibrium Default and Debt Maturity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Journal Article Take the Short Route: Equilibrium Default and Debt Maturity, Econometrica, Econometric Society (2019) View citations (54) (2019)

2015

21. Efficiency and Information Transmission in Bilateral Trading
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article Efficiency and information transmission in bilateral trading, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2019) View citations (1) (2019)
22. Equilibrium Default
    2015 Meeting Papers, Society for Economic Dynamics View citations (1)
23. Taxing Superstars
    2015 Meeting Papers, Society for Economic Dynamics
24. The Taxation of Superstars
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
    Also in CESifo Working Paper Series, CESifo (2015) View citations (10)
    NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (7)
    See also Journal Article The Taxation of Superstars, The Quarterly Journal of Economics, President and Fellows of Harvard College (2017) View citations (40) (2017)

2014

25. Bequest Taxation and R-G
    Working Paper, Harvard University OpenScholar View citations (2)
26. Labor Mobility Within Currency Unions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    Also in Working Paper, Harvard University OpenScholar (2014) View citations (24)
27. Labor Mobility in Currency Unions
    2014 Meeting Papers, Society for Economic Dynamics View citations (16)
28. Optimal Wealth Taxation: Redistribution and Political Economy
    Annual Meeting Plenary, Society for Economic Dynamics
29. Positive Long Run Capital Taxation: Chamley-Judd Revisited
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (61)
30. Slow Moving Debt Crises
    Levine's Working Paper Archive, David K. Levine View citations (27)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (77)

2013

31. A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (62)
    Also in Working Paper, Harvard University OpenScholar View citations (5)
    See also Journal Article A Theory of Macroprudential Policies in the Presence of Nominal Rigidities, Econometrica, Econometric Society (2016) View citations (228) (2016)
32. Comparative Advantage and Optimal Trade Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (8)
    See also Journal Article Comparative Advantage and Optimal Trade Policy, The Quarterly Journal of Economics, President and Fellows of Harvard College (2015) View citations (51) (2015)
33. Estate Taxation with Altruism Heterogeneity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
    Also in Working Paper, Harvard University OpenScholar
    See also Journal Article Estate Taxation with Altruism Heterogeneity, American Economic Review, American Economic Association (2013) View citations (28) (2013)

2012

34. Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (196)
35. Fiscal Multipliers: Liquidity Traps and Currency Unions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (50)
    Also in Working Paper, Harvard University OpenScholar View citations (142)
36. Government Saving with Limited Commitment
    2012 Meeting Papers, Society for Economic Dynamics

2011

37. A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
38. Insurance and Taxation over the Life Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (14)
39. Managing a Liquidity Trap: Monetary and Fiscal Policy
    2011 Meeting Papers, Society for Economic Dynamics View citations (98)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (97)

2009

40. Capital Taxation: Quantitative Explorations of the Inverse Euler Equation
    2009 Meeting Papers, Society for Economic Dynamics View citations (8)
    See also Journal Article Capital Taxation: Quantitative Explorations of the Inverse Euler Equation, Journal of Political Economy, University of Chicago Press (2012) View citations (43) (2012)

2008

41. A Positive Theory of Capital Taxation
    2008 Meeting Papers, Society for Economic Dynamics
42. Optimal Savings Distortions with Recursive Preferences
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    See also Journal Article Optimal savings distortions with recursive preferences, Journal of Monetary Economics, Elsevier (2008) View citations (12) (2008)

2007

43. Inequality and Social Discounting
    Scholarly Articles, Harvard University Department of Economics View citations (103)
    Also in Working Paper, Harvard University OpenScholar
    See also Journal Article Inequality and Social Discounting, Journal of Political Economy, University of Chicago Press (2007) View citations (107) (2007)

2006

44. Capital Taxation
    2006 Meeting Papers, Society for Economic Dynamics
45. On the Optimal Timing of Benefits with Heterogeneous Workers and Human Capital Depreciation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
46. Progressive Estate Taxation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    See also Journal Article Progressive Estate Taxation, The Quarterly Journal of Economics, President and Fellows of Harvard College (2010) View citations (98) (2010)
47. Reservation Wages and Unemployment Insurance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article Reservation Wages and Unemployment Insurance, The Quarterly Journal of Economics, President and Fellows of Harvard College (2007) View citations (121) (2007)

2005

48. Crises and Prices: Information Aggregation, Multiplicity and Volatility
    2005 Meeting Papers, Society for Economic Dynamics View citations (7)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (22)
    See also Journal Article Crises and Prices: Information Aggregation, Multiplicity, and Volatility, American Economic Review, American Economic Association (2006) View citations (206) (2006)
49. Inequality, Social Discounting and Estate Taxation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    Also in 2005 Meeting Papers, Society for Economic Dynamics (2005) View citations (18)
50. Liquidity and Insurance for the Unemployed
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2005) View citations (39)
    See also Journal Article Liquidity and Insurance for the Unemployed, American Economic Review, American Economic Association (2008) View citations (133) (2008)
51. Tax smoothing with redistribution
    Staff Report, Federal Reserve Bank of Minneapolis View citations (3)

2004

52. Commitment vs. Flexibility
    2004 Meeting Papers, Society for Economic Dynamics View citations (12)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (20)
    See also Journal Article Commitment vs. Flexibility, Econometrica, Econometric Society (2006) View citations (116) (2006)

Undated

53. Dilemma not Trilemma? Capital Controls and Exchange Rates with Volatile Capital Flows
    Working Paper, Harvard University OpenScholar View citations (112)

Journal Articles

2019

1. Efficiency and information transmission in bilateral trading
   Review of Economic Dynamics, 2019, 33, 154-176 View citations (1)
   See also Working Paper Efficiency and Information Transmission in Bilateral Trading, NBER Working Papers (2015) View citations (1) (2015)
2. Lerner Symmetry: A Modern Treatment
   American Economic Review: Insights, 2019, 1, (1), 13-26 View citations (22)
3. Take the Short Route: Equilibrium Default and Debt Maturity
   Econometrica, 2019, 87, (2), 423-462 View citations (54)
   See also Working Paper Take the Short Route: Equilibrium Default and Debt Maturity, NBER Working Papers (2016) View citations (18) (2016)

2018

4. Saving and Dissaving With Hyperbolic Discounting
   Econometrica, 2018, 86, (3), 805-857 View citations (36)
   See also Working Paper Saving and Dissaving with Hyperbolic Discounting, NBER Working Papers (2018) View citations (37) (2018)

2017

5. Comment
   NBER Macroeconomics Annual, 2017, 31, (1), 540 - 552
6. Fiscal Unions
   American Economic Review, 2017, 107, (12), 3788-3834 View citations (70)
   See also Working Paper Fiscal Unions, Working Paper (2017) View citations (3) (2017)
7. The Taxation of Superstars
   The Quarterly Journal of Economics, 2017, 132, (1), 211-270 View citations (40)
   See also Working Paper The Taxation of Superstars, CEPR Discussion Papers (2015) View citations (7) (2015)

2016

8. A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
   Econometrica, 2016, 84, 1645-1704 View citations (228)
   See also Working Paper A Theory of Macroprudential Policies in the Presence of Nominal Rigidities, NBER Working Papers (2013) View citations (62) (2013)

2015

9. Comparative Advantage and Optimal Trade Policy
   The Quarterly Journal of Economics, 2015, 130, (2), 659-702 View citations (51)
   See also Working Paper Comparative Advantage and Optimal Trade Policy, NBER Working Papers (2013) View citations (8) (2013)

2013

10. Estate Taxation with Altruism Heterogeneity
    American Economic Review, 2013, 103, (3), 489-95 View citations (28)
    See also Working Paper Estate Taxation with Altruism Heterogeneity, NBER Working Papers (2013) View citations (27) (2013)

2012

11. Capital Taxation: Quantitative Explorations of the Inverse Euler Equation
    Journal of Political Economy, 2012, 120, (3), 000 - 000 View citations (43)
    See also Working Paper Capital Taxation: Quantitative Explorations of the Inverse Euler Equation, 2009 Meeting Papers (2009) View citations (8) (2009)
12. Non-linear Capital Taxation Without Commitment
    The Review of Economic Studies, 2012, 79, (4), 1469-1493 View citations (66)

2010

13. Progressive Estate Taxation
    The Quarterly Journal of Economics, 2010, 125, (2), 635-673 View citations (98)
    See also Working Paper Progressive Estate Taxation, NBER Working Papers (2006) View citations (15) (2006)

2008

14. Liquidity and Insurance for the Unemployed
    American Economic Review, 2008, 98, (5), 1922-42 View citations (133)
    See also Working Paper Liquidity and Insurance for the Unemployed, NBER Working Papers (2005) View citations (25) (2005)
15. On the Optimality of the Friedman Rule with Heterogeneous Agents and Nonlinear Income Taxation
    Journal of Political Economy, 2008, 116, (1), 82-112 View citations (75)
16. Optimal savings distortions with recursive preferences
    Journal of Monetary Economics, 2008, 55, (1), 21-42 View citations (12)
    See also Working Paper Optimal Savings Distortions with Recursive Preferences, NBER Working Papers (2008) View citations (12) (2008)

2007

17. Inequality and Social Discounting
    Journal of Political Economy, 2007, 115, (3), 365-402 View citations (107)
    See also Working Paper Inequality and Social Discounting, Scholarly Articles (2007) View citations (103) (2007)
18. Optimal Fiscal Policy with Redistribution
    The Quarterly Journal of Economics, 2007, 122, (3), 925-967 View citations (136)
19. Reservation Wages and Unemployment Insurance
    The Quarterly Journal of Economics, 2007, 122, (3), 1145-1185 View citations (121)
    See also Working Paper Reservation Wages and Unemployment Insurance, NBER Working Papers (2006) View citations (16) (2006)

2006

20. Commitment vs. Flexibility
    Econometrica, 2006, 74, (2), 365-396 View citations (116)
    See also Working Paper Commitment vs. Flexibility, 2004 Meeting Papers (2004) View citations (12) (2004)
21. Crises and Prices: Information Aggregation, Multiplicity, and Volatility
    American Economic Review, 2006, 96, (5), 1720-1736 View citations (206)
    See also Working Paper Crises and Prices: Information Aggregation, Multiplicity and Volatility, 2005 Meeting Papers (2005) View citations (7) (2005)

2005

22. The Equilibrium Distribution of Income and the Market for Status
    Journal of Political Economy, 2005, 113, (2), 282-310 View citations (100)

2002

23. Comment on "Rotten Kids, Purity, and Perfection"
    Journal of Political Economy, 2002, 110, (2), 475-504 View citations (12)

Chapters

2016

1. Comment on "Is the Macroeconomy Locally Unstable and Why Should We Care?"
   A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016, pp 540-552
2. Fiscal Multipliers☆☆We thank the editors John Taylor and Harald Uhlig for detailed comments, as well as suggestions and comments by Gabriel Chodorow-Reich, Jon Steinsson, and Michael Weber
   Elsevier

2015

3. Saving Distortions, Undervalued Exchange Rates, and Protectionism
   Chapter 05 in Global Liquidity, Spillovers to Emerging Markets and Policy Responses, 2015, vol. 20, pp 143-158 View citations (1)

2007

4. New Dynamic Public Finance: A User's Guide
   A chapter in NBER Macroeconomics Annual 2006, Volume 21, 2007, pp 317-388 View citations (59)