Carlos Garriga Vice President

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1 Generated: December 2017 Carlos Garriga Vice President Joined the Bank Staff August 2007 Education Ph.D. Economics, Universitat de Barcelona, 1999 B.A. Economics, Universitat de Barcelona, 1995 Areas of Interest Macroeconomics, Public Finance, Financial Economics Previous Experience Assistant Professor, Department of Economics, Florida State University Research Member, Centre de Recerca d Economia del Benestar 2006, April Visiting Scholar, Research Department, Federal Reserve Bank of Atlanta Assistant Professor, Department of Economics, Universitat de Barcelona 2001, January Visiting Scholar, Research Department, Federal Reserve Bank of Minneapolis 1999, 2000 Visiting Professor, Research Department, Federal Reserve Bank of Minneapolis 2000, Apr-June Visiting Scholar, Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis Instructor, Department of Economics, Universitat de Barcelona Instructor, Universidad Nacional de Educación a Distancia Instructor, Business School, Universitat de Barcelona 1

2 Articles Published in Peer-Reviewed Journals "Mortgages And Monetary Policy," with Finn E. Kydland and Roman Šustek, Review of Financial Studies, 30, pp , October Publisher DOI: "Intergenerational Policy And The Measurement Of Tax Incidence," with Juan Carlos Conesa, European Economic Review, 83, pp. 1-18, April "Did Housing Policies Cause The Postwar Boom In Homeownership?" with Matthew Chambers and Don Schlagenhauf, Housing and Mortgage Markets in Historical Perspective. Edited by White, Snowden, and Fishback NBER., September "The Tax Treatment of Homeowners and Landlords and the Progressivity of Income Taxation," with Matthew S. Chambers and Don E. Schlagenhauf, Journal of Monetary Economics, November 2009, 56 (8), pp "Indirect Taxation And The Welfare Effects Of Altruism On The Optimal Fiscal Policy," with Fernando Sánchez-Losada, Economic Modelling, 26(6), pp , November "Housing Policy And The Progressivity Of Income Taxation," with Matthew Chambers and Don Schlagenhauf, Journal of Monetary Economics, 56(8), pp , November "Estate Taxation With Warm-Glow Altruism," with Fernando Sánchez-Losada, Portuguese Economic Journal, 8(2), pp , August "Accounting For Changes In The Homeownership Rate," with Matthew Chambers and Don Schlagenhauf, International Economic Review, 50(3), pp , August "Mortgage Contracts And Housing Tenure Decisions," with Matthew Chambers and Don Schlagenhauf, Review of Economic Dynamics, 12, pp , July Publisher DOI: "The Loan Structure And Housing Tenure Decisions In An Equilibrium Model Of Mortgage Choice," with Matthew Chambers and Don Schlagenhauf, Review of Economic Dynamics, 12(3), pp , July "Equilibrium Mortgage Choice And Housing Tenure Decisions With Refinancing," with Matthew Chambers and Don Schlagenhauf, Review of Economic Dynamics, 12(3), pp , July

3 "Optimal Response To A Transitory Demographic Shock In Social Security Financing," with Juan Carlos Conesa, Pension Strategies in Europe and the United States, pp , April "Optimal Fiscal Policy In The Design Of Social Security Reforms," with Juan Carlos Conesa, International Economic Review, 49(1), pp , February "Optimal Taxation With Imperfect Competition And Aggregate Returns To Specialization," with Javier Coto-Martínez and Fernando Sánchez-Losada, Journal of The European Economic Association (JEEA), 5(6), pp , December "Overconsumption, Reference Groups, and Equilibrium Efficiency," Economics Letters, June 2006, 91(3), pp "A general equilibrium analysis of two proposals for social security reform," Investigaciones Económicas, January 2005, 29(1), pp "The Status Quo Problem in Social Security Reforms," with Juan Carlos Conesa, Macroeconomic Dynamics, November 2003, 7(5), pp "Reform of the Social Security System and Skill Acquisition," with Juan Carlos Conesa, Investigaciones Económicas, May 2000, 24(2), pp "A Simple Model of Endogenous Retirement," with Antonio Manresa, Cuadernos Económicos de ICE, 2000, 64, pp "Fiscal System and Reforms of the Social Security System," with Juan Carlos Conesa, Cuadernos Económicos de ICE, 2000, 65, pp "The Financing of the Social Security System in Spain: Dynamic Effects of a Reform," with Juan Carlos Conesa, Hacienda Pública Espanola, 2000, 30(3). Working Papers "Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession," with Aaron Hedlund, Working Paper A, October "Optimal Fiscal Policy in Overlapping Generations Models," Working Paper A, May "Nominal rigidities in debt and product markets," with Finn E. Kydland and Roman Sustek, Working Paper A, August

4 "The Postwar Conquest of the Home Ownership Dream," with Matthew Chambers and Don Schlagenhauf, Working Paper A, April "Rural-Urban Migration, Structural Transformation, and Housing Markets in China," with Yang Tang and Ping Wang, Working Paper C, October 2014, updated April "Reconstructing the Great Recession," with Michele Boldrin, Adrian Peralta-Alva and Juan M. Sánchez, Working Paper C, February 2013, updated January "Mortgages and Monetary Policy," with Finn E. Kydland and Roman Šustek, Working Paper B, December 2013, updated October "Intergenerational Policy and the Measurement of Tax Incidence," with Juan Carlos Conesa, Working Paper A, posted April "A Model of Price Swings in the Housing Market," with Rodolfo E. Manuelli and Adrian Peralta-Alva, Working Paper A, July "Did Housing Policies Cause the Postwar Boom in Homeownership?" with Matthew Chambers and Don Schlagenhauf, Working Paper A, posted April "Generational Policy and the Macroeconomic Measurement of Tax Incidence," with Juan Carlos Conesa, Working Paper A, January Articles in Federal Reserve Bank of St. Louis Publications "Household Debt and the Great Recession," with Bryan J. Noeth and Don Schlagenhauf, Federal Reserve Bank of St. Louis Review, Second Quarter 2017, Vol. 99, No. 2, "The Homeownership Experience of Minorities During the Great Recession," with Lowell R. Ricketts and Don Schlagenhauf, Federal Reserve Bank of St. Louis Review, First Quarter 2017, Vol. 99, No. 1, "Intertemporal Discounting and Policy Selection," with Juan Carlos Conesa, Federal Reserve Bank of St. Louis Review, March/April 2013, Vol. 95, No. 2, "Demographics, Redistribution, and Optimal Inflation," with James Bullard and Christopher J. Waller, Federal Reserve Bank of St. Louis Review, November/December 2012, Vol. 94, No. 6, "Withdrawal History, Private Information, and Bank Runs," with Chao Gu, Federal Reserve Bank of St. Louis Review, July/August 2012, Vol. 94, No. 4,

5 "A Primer on Social Security Systems and Reforms," with Craig P. Aubuchon and Juan Carlos Conesa, Federal Reserve Bank of St. Louis Review, January/February 2011, Vol. 93, No. 1, "Optimal Response to a Transitory Demographic Shock in Social Security Financing," with Juan Carlos Conesa, Federal Reserve Bank of St. Louis Review, January/February 2009, Vol. 91, No. 1, "Mortgage Innovation, Mortgage Choice, and Housing Decisions," with Matthew Chambers and Don Schlagenhauf, Federal Reserve Bank of St. Louis Review, November/December 2008, Vol. 90, No. 6, "Recent Trends in Homeownership," with William T. Gavin and Don Schlagenhauf, Federal Reserve Bank of St. Louis Review, September/October 2006, Vol. 88, No. 5, " Reader Exchange: How does the Fed make money for the Treasury, and are profits audited by Congress or any agency?," Federal Reserve Bank of St. Louis, The Regional Economist, April 2010, p. 23. "Measuring (Most of) the Slack in the Labor Market," Federal Reserve Bank of St. Louis Economic Synopses, 2014, No. 22. "Where Is the Slack in the Labor Market?" Federal Reserve Bank of St. Louis Economic Synopses, 2014, No. 13. "The Recent Boom in House Prices: Why Is This Time Different?" Federal Reserve Bank of St. Louis Economic Synopses, 2013, No. 32. "Mind the Regional Output Gap," Federal Reserve Bank of St. Louis Economic Synopses, 2013, No. 22. "The Macroeconomy of the U.S. States: On the Road to Recovery?" Federal Reserve Bank of St. Louis Economic Synopses, 2013, No. 11. "Measuring the Contribution of Construction to the Slow Recovery," Federal Reserve Bank of St. Louis Economic Synopses, 2013, No. 6. "How Can QE3 Affect the Housing Market?" Federal Reserve Bank of St. Louis Economic Synopses, 2012, No. 31. "Examining the Housing Crisis by Home Price Tier," with Michelle T. Armesto, Federal Reserve Bank of St. Louis Economic Synopses, 2009, No

6 "Lending Standards in Mortgage Markets," Federal Reserve Bank of St. Louis Economic Synopses, 2009, No. 23. "Boom and Gloom in Housing Markets: The Sequel," Federal Reserve Bank of St. Louis Economic Synopses, 2008, No. 12. "A Falling Dollar Raises Inflation in the Gulf," with Michelle T. Armesto, Federal Reserve Bank of St. Louis Economic Synopses, 2008, No. 4. 6

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