Selected Work Prior to 2001
Michele Boldrin

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Books

• General Equilibrium, Growth and Trade II: Essays in Honor of Lionel W. McKenzie , (edited jointly with R. Becker, R. Jones, and W. Thomson), New York, 1993.

• Sistema de Pensiones y Mercado de Trabajo en Espanya (with S. Jimenez and F. Peracchi), Fundacion BBVA, Madrid, June 2000. PDF File

  This book is in spanish. It contains a detailed description of the Spanish pension system, it history and current setup. We also describe the evolution of social security expenditure, its determinants and its relation with the evolution of the Spanish labor market and the underlying demographic tendencies. The analysis is carried out at an aggregate level first and then articulated by cohort and sex. In the second part we use simulation techniques to compute quantitative measures of the impact that pension legislation has on labor supply decisions. Our main conclusion is that the current spanish system greatly distort labor supply decision, especially of elderly and low income people. We show that the utilization of the pension system for redistributive purposes has greatly distorted its design and its effects; it has lead to a situation in great need for drastic reform.

Business Cycle Theory

• A Dynamic Equilibrium Model of Search, Production, and Exchange (with N. Kiyotaki and R.Wright), Journal of Economic Dynamics and Control , 17, (1993), 723-757. PDF File
• Labor Contracts and Business Cycles (with M. Horvath), Journal of Political Economy , 103, (1995), 972-1004. PDF File
• Habit Persistence and Asset Returns in an Exchange Economy (with L. Christiano and J. Fisher), Macroeconomic Dynamics , vol 1, no. 2, (1997). PDF File

Growth Theory

• Cyclic and Chaotic Behavior in Intertemporal Optmization Models (with L. Montrucchio), Mathematical Modeling, 21 (1985).
• On the Indeterminacy of Capital Accumulation Paths (with L. Montrucchio), Journal of Economic Theory, 40 (1986). Reprinted in R. Becker and E. Burmeister (eds.) Growth Theory: a Readings, New York, Edward Elgar Publishing, 1991.
• Acyclicity and Stability for Intertemporal Optimization Models (with L. Montrucchio), International Economic Review, 29 (1988). PDF File
• Paths of Optimal Accumulation in a Two-Sector Model, in W. Barnett et. al. (eds.) Economic Complexity: Chaos, Sunspots, Bubbles and Nonlinearity, Cambridge, Cambridge University Press, (1989).
• Sources of Complex Dynamics in Two-Sector Models (with R. Deneckere), Journal of Economic Dynamics and Control, 14 (1990). Reprinted in J. Benhabib (.ed) Cycles and Chaos in Economic Equilibrium, Princeton, Princeton University Press, 1992. PDF File
• Equilibrium Models Displaying Endogenous Fluctuations and Chaos: A Survey (with M. Woodford), Journal of Monetary Economics, 25, (1990). Reprinted in J. Benhabib (.ed) Cycles and Chaos in Economic Equilibrium, Princeton, Princeton University Press, 1992. PDF File
• Perfectly Competitive Models of Endogenous Business Fluctuations, European Economic Review, 35 (1991).
• Learning by Doing, International Trade and Growth: A Note (with Jose Scheinkman ), in P. Anderson et. al. (eds.) The Economy as an Evolving Complex System, New York, Addison Wesley, 1988. PDF File
• Persistent Oscillations and Chaos in Dynamic Economic Models: Notes for a Survey in P. Anderson et. al. (eds.) The Economy as an Evolving Complex System, New York, Addison Wesley, 1988. PDF File
• Dynamic Externalities, Multiple Equilibria and Growth, Journal of Economic Theory, 58, (1992), 198-218. PDF File
• Growth and Indeterminancy in Dynamic Models with Externalities (with A. Rustichini), Econometrica, 62, (1994), 323-343. PDF File
• Acyclicity and Dynamic Stability: Generalizations and Applications (with L. Montrucchio), Journal of Economic Theory, 65, (1995). PDF File

Welfare State and Public Policy

• La crisi italiana. Ipotesi sul federalismo possibile (with Aldo Rustichini), in Giavazzi, F., Penati, A. and Tabellini, G. (eds.) Frontiere della Politica Economica , Milano, Sole-24 Ore, 1995. PDF File
• Federalismo Competitivo e Federalismo Cooperativo: Esempi Stranieri e Lezioni per l'Italia, I Volti del federalismo I.S.P.I. , Milano, 1996.
• Income Distribution and Economic Development, in Perspectivas teoricas y comparadas de la igualdad , Fundacion Argentaria, Madrid, 1996.
• Interaciones entre la financiacion de la educacion y el proceso de acumulacion de capital, Ekonomiaz   35, (1996), 69-91.
• Trade Liberalization and Private Saving, the Spanish Experience: 1960-1995 ,  (with Juan Manuel Martin Prieto) in Gavin, M. et. al. (eds.) Determinants of Domestic Savings in Latin America , coordinated by the Office of the Chief Economist, InterAmerican Development Bank under the Second Regional Research Network Project, 1997. PDF File
• Educacion Publica, Crecimiento y Desigualdad Social ,  (with Ana Montes), Moneda y Credito , vol. 153, (1997). PDF File
• Social Security and Retirement in Spain, (with F. Peracchi and S. Jimenez), in Jonathan Gruber and David Wise (eds.) Social Security Programs and Retirement Around the World , The University of Chicago Press for the N.B.E.R., 1998. PDF File
• The Future of Pension Systems in Europe. A Reappraisal , (with J. J. Dolado, J. F. Jimeno and F. Peracchi), Economic Policy , vol. 29, October 1999. PDF File
• Regional Economic Convergence: Is European Regional Policy Worth Keeping?  in J. von Hagen (ed), Regionalism In Europe , Kluwer, 2000.
• Political Equilibria with Social Security  (with Aldo Rustichini), Review of Economic Dynamics 3 (2000), 41-78. PDF File

Unpublished Working Papers

• Threshold Externalities and Economic Development: a Note , D.P. 953, CM-SEMS, Northwestern University, April 1991. PDF File
• On the Differentiability of the Policy Function , (with L. Montrucchio), mimeo, UCLA Econ. Dept., April 1988. PDF File
• On the Emergence of Dynamical Complexities in Models of Optimal Growth: the Role of Impatience (with L.Montrucchio), Univ. of Rochester, 1984.
• Applying Bifurcation Theory: Some Simple Results on Keynesian Business Cycles, W.P. 8403, Universita a di Venezia, September 1982.