Matthias Kredler's Homepage
Papers
Working papers:

"Experience vs. Obsolescence: A Vintage-Human-Capital Model" (revise & re-submit at the Journal of Economic Theory)
This version: Nov. 2010

"Vintage Human Capital and Learning Curves" (under review)
This version: Dec. 2011

"A Dynamic Model of Altruistically-Motivated Transfers" (with Daniel Barczyk, under review)
This version: Nov. 2011 (last version: July 2011)
Slides, supplemental material
Winner of the Best Paper Award in Economics at London Business School's Trans-Atlantic Doctoral Conference (TADC), May 2010

"Altruistically-Motivated Transfers under Uncertainty" (with Daniel Barczyk, under review)
This version: Nov. 2011
Computational online appendix (with an introduction to the Markov-chain approximation method for continuous-time optimization problems),
code toolbox, slides

"Bayesian Estimation of a Dynamic Partial-Equilibrium Model for Investment" (under review)
This version: Sept. 2010


Work in progress:

Long-Term Care: Macroeconomic Implications and Policy (with Daniel Barczyk)
Slides

Abstract: Aging populations and increasing health-care costs will lead to an explosion in costs from long-term care (LTC) for permanently disabled elderly citizens. Governments are considering and implementing different kinds of policy responses, among them government-provided minimal care combined with reliance on private insurance markets (e.g. in the U.S.) and tax-financed insurance schemes that include subsidies for informal care givers (e.g. in Germany). We study the welfare consequences of such policies in a general-equilibrium incomplete-markets setting with heterogeneous agents who have imperfectly altruistic preferences towards other family members. We estimate key parameters, such as the degree of altruism and families' preference for providing informal care themselves (as opposed to sending their relatives to nursing homes) from the National Long Term Care Survey, a representative longitudinal data set from the U.S. When personal care is valued by families, GDP-maximizing policies may not be welfare-optimizing, a point that is often implicitly made in the public debate.

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