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Greg Kaplan

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This is an old revision of this page, as edited by 15 (talk | contribs) at 19:10, 17 May 2021 (→‎Selected works: finish references). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

  • Comment: Academicss arre notable a/c the criteria at WP:PROF, which in his case probably means the number of citations to his published papers. Find his 5 mpst citedf papers, l;ist them, and give the citations. Forh is bio, everything must have a specific source. DGG ( talk ) 05:23, 30 November 2020 (UTC)
  • Comment: the current ed. has declared absence of coi DGG ( talk ) 05:18, 30 November 2020 (UTC)
  • Comment: as there continues to be no declaration about coi, I shall not review this work, and I believe many other reviewers feel similarly DGG ( talk ) 18:58, 19 October 2020 (UTC)
  • Comment: Article reads more like a press release than an encyclopedia article Nightenbelle (talk) 21:27, 15 September 2020 (UTC)
  • Comment: Since this is your only contribution, and since it is written in the format of a press release, it is reasonable to ask whether you are a connected contributor, in which case you must declare the connection. Please see our rules on Conflict of Interest If you are writing this for pay or as a staff member of the organization, see also WP:PAID for the necessary disclosures. I will review it as soon as you infrom me that you have provided the necessary information DGG ( talk ) 10:38, 3 September 2020 (UTC)
  • Comment: I'm not an AfC reviewer but he should be notable per WP:NACADEMIC (3) by being a fellow of the Econometric Society. Bottom of the article, sourced. Caius G. (talk) 21:43, 26 March 2021 (UTC)
Greg Kaplan
Academic career
FieldMacroeconomics
InstitutionUniversity of Chicago
Alma materNYU (Ph.D., 2009)
LSE (Msc., 2002)
Doctoral
advisor		Tom Sargent; Richard Blundell; Gianluca Violante
ContributionsHANK; Wealthy hand-to-mouth
AwardsAlfred P. Sloan Research Fellowship (2015); Economics in Central Banking Award (2019)

Greg Kaplan is professor of economics at the University of Chicago. His research encompasses macroeconomics, labor economics and applied microeconomics, with a focus on distributional issues.

Education and Career

Greg Kaplan graduated with a BCom from Macquarie University in 2000. He went on to further study at the London School of Economics and received an an Msc in economics in 2002. He got a PhD from New York University in 2009.[1] Following his graduation with a PhD from New York University in 2009, worked at the Federal Reserve Bank of Minneapolis for a year. He he then became assistant professor at the University of Pennsylvania. He left Philadelphia for an assistant professorship at Princeton University in 2012 and was promoted to full professor in 2015. The University of Chicago appointed him professor in economics in 2016.[1]

Research

Household finance

In a 2014 paper with Gianluca Violante and Justin Weidner, Kaplan shows that a sizable share of households own little liquid wealth despite holding significant illiquid wealth. The authors call such households "wealthy hand-to-mouth". Because the wealthy hand-to-mouth have little liquid wealth they react strongly to transitory income shocks and therefore have high MPCs. This has important implications for fiscal and monetary policy (see HANK models). Kaplan further shows with Gianluca Violante that models featuring wealthy hand-to-mouth (i.e. with one liquid asset and one illiquid asset) yield aggregate responses to fiscal shocks one order of magnitude higher than standard one-asset models, consistent with empirical evidence.[2]

Heterogeneous Agent New Keynesian models

In 2018, Kaplan together with Benjamin Moll and Gianluca Violante introduce the term HANK (Heterogeneous Agent New Keynesian) model to describe the rising literature incorporating household heterogeneity into New-Keynesian models[3][4]. They argue that monetary policy operates mostly via general equilibrium effects on the labor market, instead of the standard intertemporal substitution channel. This is due to a sizable share of households exhibiting high MPCs, whose spending behavior reacts strongly to changes in disposable income. As Ricardian equivalence fails in HANK models, the reaction of the fiscal authority to a monetary shock is key to determine the overall macroeconomic response.[5][6][7]

Other activities

Kaplan is an editor of the Journal of Political Economy, a Research Associate at the National Bureau of Economic Research and a Research Fellow at the Institute for Fiscal Studies.[8][9][10] He is also an economic consultant at the Federal Reserve Bank of Chicago.[11]

In 2015 he received a Sloan Foundation fellowship.[12] The Econometric Society elected him fellow in 2020.[13]

Selected works

  • Kaplan, Greg (2012). "Moving Back Home: Insurance against Labor Market Risk". Journal of Political Economy. 120 (3): 446–512. doi:10.1086/666588.
  • Kaplan, Greg; Violante, Giovanni; Weidner, Justin (2014). "The Wealthy Hand-to-Mouth" (Document). doi:10.3386/w20073. {{cite document}}: Cite document requires |publisher= (help); Unknown parameter |journal= ignored (help); Unknown parameter |url= ignored (help); Unknown parameter |volume= ignored (help)
  • Kaplan, Greg; Violante, Giovanni L. (2014). "A Model of the Consumption Response to Fiscal Stimulus Payments". Econometrica. 82 (4): 1199–1239. doi:10.3982/ECTA10528.{{cite journal}}: CS1 maint: date and year (link)
  • Kaplan, Greg; Moll, Benjamin; Violante, Giovanni L. (2018). "Monetary Policy According to HANK". American Economic Review. 108 (3): 697–743. doi:10.1257/aer.20160042.
  • Kaplan, Greg; Mitman, Kurt; Violante, Giovanni L. (2020). "The Housing Boom and Bust: Model Meets Evidence". Journal of Political Economy. 128 (9): 3285–3345. doi:10.1086/708816.

References

  1. ^ a b "Greg Kaplan CV" (PDF).{{cite web}}: CS1 maint: url-status (link)
  2. ^ Kaplan, Greg; Violante, Giovanni L. (2014). "A Model of the Consumption Response to Fiscal Stimulus Payments". Econometrica. 82 (4): 1199–1239. doi:10.3982/ECTA10528. ISSN 1468-0262. S2CID 15993790.
  3. ^ "Economics in central banking: Greg Kaplan, Benjamin Moll and Gianluca Violante". Central Banking. 2019-01-28. Retrieved 2021-02-16.
  4. ^ Global Perspectives Podcast with guest Professor Greg Kaplan, retrieved 2021-02-16
  5. ^ Kaplan, Greg; Moll, Benjamin; Violante, Giovanni L. (March 2018). "Monetary Policy According to HANK". American Economic Review. 108 (3): 697–743. doi:10.1257/aer.20160042. ISSN 0002-8282. S2CID 31927674.
  6. ^ "The winners of the 2019 Central Banking Awards". Central Banking. 2019-02-12. Retrieved 2020-06-29.
  7. ^ "Podcast: Greg Kaplan on heterogeneous-agent models". Central Banking. 2019-03-22. Retrieved 2021-02-16.
  8. ^ "Journal of Political Economy: Editorial Board". www.journals.uchicago.edu. Retrieved 2021-01-19.
  9. ^ "Greg Kaplan". NBER. Retrieved 2021-01-19.
  10. ^ "Greg Kaplan -". www.ifs.org.uk. Retrieved 2021-01-19.
  11. ^ "Greg Kaplan". Equitable Growth. Retrieved 2021-01-19.
  12. ^ "Past Fellows". sloan.org. Retrieved 2021-01-19.
  13. ^ "Fellows | The Econometric Society". www.econometricsociety.org. Retrieved 2021-01-19.
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