Jess Benhabib

Department of Economics
New York University
19 West 4th Street, 6th Floor
New York, NY 10012
Tel: 212/998-8971
Fax: 212/995-4186

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: EFG
NBER Affiliation: Research Associate

NBER Working Papers and Publications

October 2017Sentiments and Economic Activity: Evidence from U.S. States
with Mark M. Spiegel: w23899
February 2017The Anatomy of Sentiment-Driven Fluctuations
with Sushant Acharya, Zhen Huo: w23136
January 2017Reconciling Models of Diffusion and Innovation: A Theory of the Productivity Distribution and Technology Frontier
with Jesse Perla, Christopher Tonetti: w23095
January 2016Skewed Wealth Distributions: Theory and Empirics
with Alberto Bisin: w21924
November 2015Wealth Distribution and Social Mobility in the US: A Quantitative Approach
with Alberto Bisin, Mi Luo: w21721
June 2015Sentiments, Financial Markets, and Macroeconomic Fluctuations
with Xuewen Liu, Pengfei Wang: w21294

Published: Benhabib, Jess & Liu, Xuewen & Wang, Pengfei, 2016. "Sentiments, financial markets, and macroeconomic fluctuations," Journal of Financial Economics, Elsevier, vol. 120(2), pages 420-443. citation courtesy of

October 2014Adverse Selection and Self-fulfilling Business Cycles
with Feng Dong, Pengfei Wang: w20642
May 2014The Wealth Distribution in Bewley Models with Investment Risk
with Alberto Bisin, Shenghao Zhu: w20157
April 2014Private Information and Sunspots in Sequential Asset Markets
with Pengfei Wang: w20044

Published: Benhabib, Jess & Wang, Pengfei, 2015. "Private information and sunspots in sequential asset markets," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 558-584. citation courtesy of

March 2013Uncertainty and Sentiment-Driven Equilibria
with Pengfei Wang, Yi Wen: w18878
September 2012Sentiments and Aggregate Demand Fluctuations
with Pengfei Wang, Yi Wen: w18413

Published: Jess Benhabib & Pengfei Wang & Yi Wen, 2015. "Sentiments and Aggregate Demand Fluctuations," Econometrica, Econometric Society, vol. 83, pages 549-585, 03. citation courtesy of

May 2012Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?
with George W. Evans, Seppo Honkapohja: w18114

Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal Austerity?,” (with George Evans and Seppo Honkapohja), forthcoming, Journal of Economic Dynamics and Control, 2015. citation courtesy of

Catch-up and Fall-back through Innovation and Imitation
with Jesse Perla, Christopher Tonetti: w18091

Published: Jess Benhabib & Jesse Perla & Christopher Tonetti, 2014. "Catch-up and fall-back through innovation and imitation," Journal of Economic Growth, Springer, vol. 19(1), pages 1-35, March. citation courtesy of

Financial Constraints, Endogenous Markups, and Self-fulfilling Equilibria
with Pengfei Wang: w18074

Published: Benhabib, Jess & Wang, Pengfei, 2013. "Financial constraints, endogenous markups, and self-fulfilling equilibria," Journal of Monetary Economics, Elsevier, vol. 60(7), pages 789-805. citation courtesy of

February 2011Learning, Large Deviations and Rare Events
with Chetan Dave: w16816

Published: Jess Benhabib & Chetan Dave, 2014. "Learning, Large Deviations and Rare Events," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(3), July. citation courtesy of

Reestablishing the Income-Democracy Nexus
with Alejandro Corvalan, Mark M. Spiegel: w16832
March 2009A Note on Regime Switching, Monetary Policy, and Multiple Equilibria
February 2009The distribution of wealth and fiscal policy in economies with finitely lived agents
with Alberto Bisin: w14730

Published: Jess Benhabib & Alberto Bisin & Shenghao Zhu, 2011. "The Distribution of Wealth and Fiscal Policy in Economies With Finitely Lived Agents," Econometrica, Econometric Society, vol. 79(1), pages 123-157, 01. citation courtesy of

June 2008Age, Luck, and Inheritance
with Shenghao Zhu: w14128
January 2007Optimal Migration: A World Perspective
with Boyan Jovanovic: w12871

Published: Jess Benhabib & Boyan Jovanovic, 2012. "Optimal Migration: A World Perspective," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(2), pages 321-348, 05. citation courtesy of

February 2004Chaotic Interest Rate Rules: Expanded Version
with Stephanie Schmitt-Grohe, Martin Uribe: w10272
March 2003Backward-Looking Interest-Rate Rules, Interest-Rate Smoothing, and Macroeconomic Instability
with Stephanie Schmitt-Grohe, Martin Uribe: w9558


April 1990Homework in Macoreconomics I: Basic Theory (Part I of II)
with Randall Wright, Richard Rogerson: w3344

Published: Benhabib, Jess, R. Rogerson and R. Wright. "Homework in Macroeconomics." Journal of Political Economy 99 (1991): 1166-1185.

December 1989Externalities and Growth Accounting
with Boyan Jovanovic: w3190

Published: The American Economic Review, Vol. 81, No. 1, pp. 82-113, (March 1991). citation courtesy of

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