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About the Author(s)

Luigi Pistaferri

Luigi Pistaferri is a professor of economics at Stanford University and the Ralph Landau Senior Fellow at the Stanford Institute for Economic and Policy Research. Pistaferri has studied various topics in labor, macro, and public economics, encompassing the measurement of labor market risks (including firm-level risks) and the implications for household consumption and savings, the importance of return heterogeneity for wealth inequality, the welfare implications of screening errors in disability insurance programs, and the link between partial insurance and consumption inequality. He is a research associate in the NBER’s Economic Fluctuations and Growth and Labor Studies programs.

Pistaferri has served as coeditor of the American Economic Review and is a member of the Panel Study of Income Dynamics Board of Overseers and a Fellow of the Econometric Society. In 2018–19 he was the Modigliani Visiting Professor at the University of Naples and in 2011–12 he held the Bajola Parisani Visiting Chair in Economics and Institutions at the Einaudi Institute for Economics and Finance in Rome.

Pistaferri’s research has been funded by the National Science Foundation, the National Institutes of Health, the European Research Council, the Research Council of Norway, and the Washington Center for Equitable Growth. He is the author with Tullio Jappelli of the book The Economics of Consumption.

Pistaferri did his undergraduate studies in Italy (IUN Naples and Bocconi Milan), received a PhD in economics from University College London, and joined the Stanford faculty in 1999.


1. High Wage Workers and High Wage Firms,” Abowd JM, Kramarz F, Margolis DN. NBER Working Paper 4917, November 1994, and Econometrica 67(2), March 1999, pp. 251–333.   Go to ⤴︎
2. Insurance within the Firm,” Guiso L, Pistaferri L, Schivardi F. Journal of Political Economy 113(5), October 2005, pp. 1054–1087.   Go to ⤴︎
3. One example of such a study is “Imperfect Competition, Compensating Differentials and Rent Sharing in the US Labor Market,” Lamadon T, Mogstad M, Setzler B. NBER Working Paper 25954, June 2019.   Go to ⤴︎
4. Who Profits from Patents? Rent-Sharing at Innovative Firms,” Kline P, Petkova N, Williams H, Zidar O. NBER Working Paper 25245, revised March 2019, and Quarterly Journal of Economics 134(3), August 2019, pp. 1343–1404.   Go to ⤴︎
5. Earnings Dynamics and Firm-Level Shocks,” Friedrich B, Laun L, Meghir C, Pistaferri L. NBER Working Paper 25786, April 2019.   Go to ⤴︎
6. Labor Market Fluidity and Economic Performance,” Davis S, Haltiwanger J. NBER Working Paper 20479, September 2014, revised December 2014. Go to ⤴︎
7. “The Great Micro Moderation,” Bloom N, Guvenen F, Pistaferri L, Sabelhaus J, Salgado S, Song J. Unpublished manuscript,   Go to ⤴︎
8. Firm-Related Risk and Precautionary Saving Response,” Fagereng A, Guiso L, Pistaferri L. NBER Working Paper 23182, February 2017, and American Economic Review 107(5), May 2017, pp. 393–397.   Go to ⤴︎
9. Portfolio Choices, Firm Shocks, and Uninsurable Wage Risk,” Fagereng A, Guiso L, Pistaferri L. NBER Working Paper 22883, December 2016, and Review of Economic Studies 85(1), January 2018, pp. 437–474.   Go to ⤴︎
10. Consumption Network Effects,” De Giorgi G, Frederiksen A, Pistaferri L. NBER Working Paper 22357, June 2016, and Review of Economic Studies 87(1), January 2020, pp. 130–163. Go to ⤴︎

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