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Andrea Lanteri

Associate Professor of Economics
Box 90097, Durham, NC 27708-0097
231 Social Sciences, Box 90097, Durham, NC 27708-0097

Selected Publications

Capital and labor taxes with costly state contingency

Journal Article Review of Economic Dynamics · December 1, 2023 We analyze optimal capital and labor taxes in a model where (i) the government makes noncontingent announcements about future policies and (ii) state-contingent deviations from these announcements are costly. With Full Commitment, optimal announcements coi ... Full text Cite


Journal Article Economic Journal · May 1, 2023 We study the role of new-product quality for the dynamics of durable-good expenditures around the Great Recession. We assemble a rich dataset on US new-car markets during 2004–12, combining data on transaction prices with detailed information about vehicle ... Full text Open Access Cite

Constrained-Efficient Capital Reallocation

Journal Article American Economic Review · February 1, 2023 We characterize efficiency in an equilibrium model of investment and capital reallocation with heterogeneous firms facing collateral constraints. The model features two types of pecuniary externalities: collateral externalities, because the resale price of ... Full text Cite

Capital-Reallocation Frictions and Trade Shocks

Journal Article American Economic Journal: Macroeconomics · January 1, 2023 What are the short-term effects of an import-competition shock on capital reallocation and aggregate productivity? To address this question, we develop a quantitative model with heterogeneous firms and capital-reallocation frictions. We discipline the mode ... Full text Cite

Credit Shocks and Equilibrium Dynamics in Consumer Durable Goods Markets

Journal Article Review of Economic Studies · November 1, 2021 This article studies equilibrium dynamics in consumer durable goods markets after aggregate credit shocks. We introduce two novel features into a general-equilibrium model of durable consumption with heterogeneous households facing idiosyncratic income ris ... Full text Cite

Constrained-Efficient Capital Reallocation

Journal Article · January 2021 Cite

The market for used capital: Endogenous irreversibility and reallocation over the business cycle

Scholarly Edition · September 1, 2018 This paper studies the business- cycle dynamics of secondary markets for physical capital and their effects on the macroeconomy. In the data, both capital reallocation and the price of used capital are procyclical. To rationalize these facts, I propose a m ... Full text Open Access Cite

Fiscal Policy with Limited-Time Commitment

Scholarly Edition · June 1, 2018 Cite

Capital Specificity, the Distribution of Marginal Products and Aggregate Productivity

Scholarly Edition · 2017 This paper studies the role of capital specificity and investment irreversibility on the distribution of marginal products of capital and aggregate TFP. We use a methodology new to the misallocation literature, based on the study of “mobility” across qu ... Cite

Optimal Policy with General Signal Extraction

Scholarly Edition · September 26, 2016 Featured Publication This paper studies optimal policy with partial information in a general setup where observed signals are endogenous to policy. In this case, signal extraction about the state of the economy cannot be separated from the determination of the optimal policy. ... Open Access Cite

The Market for Used Capital: Endogenous Irreversibility and Reallocation Over the Business Cycle

Journal Article Economic Research Initiatives at Duke (ERID) · January 17, 2016 Featured Publication Capital reallocation is procyclical in the data, but countercyclical in standard business-cycle models. To solve this puzzle, I build a model of endogenous partial irreversibility, with heterogeneous firms facing aggregate and idiosyncratic productivity sh ... Cite

Optimal Policy with Endogenous Signal Extraction

Scholarly Edition · 2014 This paper studies optimal policy in models with multidimensional uncertainty and endogenous observables. We first consider a very general setup where the policy-maker does not observe the realisations of the shocks that hit the economy, but only some aggr ... Cite