Publications

We estimate how firms’ productivity shocks pass through to hourly wages, finding an average passthrough of 0.08 that is twice as large for negative shocks, consistent with labor market power.

We decompose the excess wealth of the top 0.1% into saving rates, inheritances, returns, and labor income using Norwegian administrative data, revealing distinct “New Money” and “Old Money” dynamics.

We characterize Norwegian earnings dynamics and their intergenerational transmission, showing that children of high-income fathers face more volatile but positively skewed income paths, while children of poorer fathers face higher downside risk.