Frank N. Caliendo


Major Fields of Interests: Macroeconomics, Public Economics, Household Finance, Economic Theory.

My current research is focused in two areas:

1. Household Financial Decision Making under Uncertainty

How should households optimally hedge the risk of sudden and permanent job loss? What is the welfare cost of such uncertainty, and how well do existing social insurance programs (OASI, SSDI) help to mitigate these risks? Similarly, how should households prepare for uncertainty about the timing and structure of Social Security reform, and what is the welfare cost of such policy uncertainty? And what are the welfare effects of public and private longevity insurance arrangements when households face ambiguity about their survival risk? I am interested in these and other related questions at the intersection of macroeconomics, public economics, and household finance.

The Welfare Cost of Retirement Uncertainty

Joint with Maria Casanova, Aspen Gorry, and Sita Slavov

The Cost of Uncertainty about the Timing of Social Security Reform

Joint with Aspen Gorry and Sita Slavov

Survival Ambiguity and Welfare (NEW PAPER!)

Joint with Aspen Gorry and Sita Slavov

2. Welfare Analysis under Non-Standard Preferences

One of the most important questions in behavioral economics is: How should economists conduct welfare analysis when individuals make dynamically inconsistent choices? While my coauthor and I do not provide a full answer to this question, we are working toward an understanding that extends traditional, Pareto welfare analysis to settings with dynamically inconsistent preferences.

Commitment, Welfare, and the Frequency of Choice

Joint with Scott Findley


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