Xavier Gabaix

Harvard University - Department of Economics

Prof. of economics

Littauer Center

Cambridge, MA 02138

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

Centre for Economic Policy Research (CEPR)

London

United Kingdom

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

SCHOLARLY PAPERS

44

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Rank 270

SSRN RANKINGS

Top 270

in Total Papers Downloads

74,875

SSRN CITATIONS
Rank 44

SSRN RANKINGS

Top 44

in Total Papers Citations

3,492

CROSSREF CITATIONS

4,744

Scholarly Papers (44)

In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis

Swiss Finance Institute Research Paper No. 20-91
Number of pages: 120 Posted: 23 Oct 2020 Last Revised: 12 Jun 2021
Xavier Gabaix and Ralph S. J. Koijen
Harvard University - Department of Economics and University of Chicago - Booth School of Business
Downloads 13,949 (330)
Citation 18

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In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis

Number of pages: 54 Posted: 28 Jun 2021 Last Revised: 18 Nov 2021
Xavier Gabaix and Ralph S. J. Koijen
Harvard University - Department of Economics and University of Chicago - Booth School of Business
Downloads 19 (679,738)
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In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis

Number of pages: 124 Posted: 14 Jul 2021
Xavier Gabaix and Ralph S. J. Koijen
Harvard University - Department of Economics and University of Chicago - Booth School of Business
Downloads 2 (825,463)
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2.
Downloads 11,649 ( 487)
Citation 118

Institutional Investors and Stock Market Volatility

MIT Department of Economics Working Paper No. 03-30
Number of pages: 51 Posted: 11 Sep 2003 Last Revised: 01 Jun 2010
Harvard University - Department of Economics, Boston University - Center for Polymer Studies, Boston University - Center for Polymer Studies and Boston University - Center for Polymer Studies
Downloads 11,483 (494)
Citation 65

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stock market crashes, power law, tail behavior, Levy distribution, market microstructure, behavioral finance, scaling, volume, excess volatility, price pressure

Institutional Investors and Stock Market Volatility

Number of pages: 52 Posted: 18 Jan 2006 Last Revised: 14 Jul 2021
Harvard University - Department of Economics, Boston University - Center for Polymer Studies, Boston University - Center for Polymer Studies and Boston University - Center for Polymer Studies
Downloads 166 (228,456)
Citation 23

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The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation

Number of pages: 76 Posted: 29 Mar 2008 Last Revised: 22 Oct 2009
National University of Singapore, Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 5,882 (1,609)
Citation 59

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Household finance, aging, financial sophistication, shrouding, credit cards, fees, mortgages, regulation

The Age of Reason: Financial Decisions Over the Lifecycle

NYU Working Paper No. FIN-07-005
Number of pages: 51 Posted: 03 Nov 2008
National University of Singapore, Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 151 (247,563)

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Household finance, behavioral finance, behavioral industrial organization, aging, shrouding, auto loans, credit cards, fees, home equity, home equity

The Age of Reason: Financial Decisions Over the Lifecycle

Number of pages: 51 Posted: 03 Jul 2007 Last Revised: 19 Jul 2010
National University of Singapore, Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 52 (485,695)
Citation 3

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4.
Downloads 5,265 ( 1,943)
Citation 156

Power Laws in Economics and Finance

Number of pages: 61 Posted: 27 Aug 2008 Last Revised: 03 Apr 2009
Xavier Gabaix
Harvard University - Department of Economics
Downloads 5,165 (1,986)
Citation 145

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scaling, fat tails, superstars, crashes

Power Laws in Economics and Finance

Number of pages: 62 Posted: 08 Sep 2008 Last Revised: 29 Jul 2021
Xavier Gabaix
Harvard University - Department of Economics
Downloads 100 (336,410)
Citation 16

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Power Laws in Economics and Finance

Posted: 04 Jun 2010
Xavier Gabaix
Harvard University - Department of Economics

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Power Laws in Economics and Finance

Posted: 31 Aug 2011
Xavier Gabaix
Harvard University - Department of Economics

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5.
Downloads 3,807 ( 3,466)
Citation 9

Granular Instrumental Variables

Number of pages: 97 Posted: 15 Apr 2019 Last Revised: 08 Jul 2021
Xavier Gabaix and Ralph S. J. Koijen
Harvard University - Department of Economics and University of Chicago - Booth School of Business
Downloads 3,795 (3,410)
Citation 8

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Granular Instrumental Variables

Number of pages: 98 Posted: 21 Dec 2020 Last Revised: 18 Nov 2021
Xavier Gabaix and Ralph S. J. Koijen
Harvard University - Department of Economics and University of Chicago - Booth School of Business
Downloads 12 (737,452)
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Granular Instrumental Variables

Number of pages: 100 Posted: 23 Dec 2020
Xavier Gabaix and Ralph S. J. Koijen
Harvard University - Department of Economics and University of Chicago - Booth School of Business
Downloads 0
Citation 2
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6.
Downloads 3,541 ( 3,912)
Citation 412

Why Has CEO Pay Increased so Much?

MIT Department of Economics Working Paper No. 06-13
Number of pages: 39 Posted: 16 May 2006
Xavier Gabaix and Augustin Landier
Harvard University - Department of Economics and HEC
Downloads 2,702 (6,066)
Citation 8

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Executive compensation, wage distribution, pay performance sensitivity, extreme value, theory, superstars, calibratable corporate finance

Why Has CEO Pay Increased so Much?

MIT Department of Economics Working Paper No. 06-13, AFA 2007 Chicago Meetings Paper
Number of pages: 30 Posted: 17 May 2006
Xavier Gabaix and Augustin Landier
Harvard University - Department of Economics and HEC
Downloads 672 (49,317)
Citation 12

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Executive compensation, wage distribution, Pareto distribution, wage inequality, assignment, incentives, pay performance sensitivity, human capital

Why Has CEO Pay Increased so Much?

NYU Working Paper No. CLB-06-011
Number of pages: 47 Posted: 31 Oct 2008
Xavier Gabaix and Augustin Landier
Harvard University - Department of Economics and HEC
Downloads 127 (283,827)
Citation 1

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Executive compensation, wage distribution, corporate governance, Roberts law, Zipf s law, scaling, extreme value theory, superstars, calibratable corporate finance

Why Has CEO Pay Increased so Much?

Number of pages: 48 Posted: 24 Jul 2006 Last Revised: 16 Oct 2021
Xavier Gabaix and Augustin Landier
Harvard University - Department of Economics and HEC
Downloads 40 (542,006)
Citation 41

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7.
Downloads 3,496 ( 4,010)
Citation 84

Dynamic CEO Compensation

Journal of Finance 67(5), 1603-1647, October 2012
Number of pages: 63 Posted: 18 Mar 2009 Last Revised: 20 Dec 2013
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 3,398 (4,107)
Citation 26

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Contract theory, executive compensation, incentives, principal-agent problem, private saving, manipulation, vesting

Dynamic Incentive Accounts

Number of pages: 43 Posted: 08 Sep 2009 Last Revised: 15 Nov 2021
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 89 (362,783)

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Dynamic Incentive Accounts

Number of pages: 45 Posted: 17 Nov 2009
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 9 (763,180)
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Contract theory, executive compensation, incentives, manipulation, principal-agent problem, private saving, vesting

8.
Downloads 3,128 ( 4,841)
Citation 33

Executive Compensation: A Modern Primer

Journal of Economic Literature 54(4), 1232-1287, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 450/2015
Number of pages: 79 Posted: 13 Mar 2015 Last Revised: 10 Feb 2020
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 3,076 (4,906)
Citation 37

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Executive compensation, contract theory, principal-agent problem, rent extraction, optimal contracting

Executive Compensation: A Modern Primer

Number of pages: 70 Posted: 04 May 2015 Last Revised: 27 Sep 2021
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 51 (489,970)

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Executive Compensation: A Modern Primer

Number of pages: 71 Posted: 05 May 2015
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1 (838,783)
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contract theory, executive compensation, optimal contracting, principal-agent problem, rent extraction

9.
Downloads 3,121 ( 4,867)
Citation 37

Executive Compensation: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 514/2016
Number of pages: 173 Posted: 26 Jun 2017 Last Revised: 30 Jun 2021
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 2,351 (7,601)
Citation 24

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Executive compensation, contracts, principal-agent problem, rent extraction

Executive Compensation: A Survey of Theory and Evidence

Number of pages: 169 Posted: 24 Aug 2017
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 705 (46,252)
Citation 1

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executive compensation, CEO compensation, managerial incentives, pay-for-performance, corporate governance

Executive Compensation: A Survey of Theory and Evidence

Number of pages: 168 Posted: 17 Jul 2017 Last Revised: 23 Jun 2021
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 64 (439,019)

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Executive Compensation: A Survey of Theory and Evidence

Number of pages: 170 Posted: 18 Jul 2017
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 1 (838,783)
Citation 8
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Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets

MIT Department of Economics Working Paper No. 05-18
Number of pages: 37 Posted: 24 May 2005
Xavier Gabaix and David Laibson
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 2,395 (7,380)
Citation 17

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behavioral economics, bounded rationality, consumer protection, information

Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets

Number of pages: 37 Posted: 06 Feb 2006 Last Revised: 14 Feb 2021
Xavier Gabaix and David Laibson
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 68 (425,045)
Citation 94

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11.
Downloads 2,387 ( 7,552)
Citation 7

Crash Risk in Currency Markets

NYU Working Paper No. FIN-09-007
Number of pages: 68 Posted: 07 May 2009 Last Revised: 13 Mar 2015
Harvard University - Department of Economics, Computer Science, Harvard University - Department of Economics, University of Southern California and National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,322 (7,743)
Citation 4

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Exchange Rates, Disaster Risk, Currency Options

Crash Risk in Currency Markets

Number of pages: 94 Posted: 08 Jun 2009 Last Revised: 29 Aug 2021
Harvard University - Department of Economics, Computer Science, Harvard University - Department of Economics, University of Southern California and National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 64 (439,019)
Citation 4

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Crash Risk in Currency Markets

Number of pages: 83 Posted: 15 Jul 2009
Harvard University - Department of Economics, Computer Science, Harvard University - Department of Economics, University of Southern California and National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1 (838,783)
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carry trade, currency crisis, currency options, disaster risk, exchange rate, financial crisis

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

Europen Financial Management, Vol. 15, No. 3, pp. 486-496, June 2009
Number of pages: 13 Posted: 24 Sep 2008 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1,611 (13,940)
Citation 1

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Executive compensation, pay-performance sensitivity, rent extraction, optimal contracting

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

NYU Working Paper No. FIN-08-026
Number of pages: 13 Posted: 09 Mar 2009 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 227 (171,810)

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Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

European Financial Management, Vol. 15, Issue 3, pp. 486-496, June 2009
Number of pages: 11 Posted: 27 May 2009
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1 (838,783)
Citation 5
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13.
Downloads 1,715 ( 12,856)
Citation 12

Learning in the Credit Card Market

Number of pages: 44 Posted: 06 Apr 2008 Last Revised: 26 Apr 2013
National University of Singapore, Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 1,608 (13,979)
Citation 9

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household finance, consumer finance, credit cards, feedback, learning, learning-by-doing, recency

Learning in the Credit Card Market

Number of pages: 37 Posted: 15 Feb 2008 Last Revised: 09 Oct 2021
National University of Singapore, Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 107 (321,377)

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14.

A Unified Theory of Ten Financial Puzzles

9th Annual Texas Finance Festival
Number of pages: 38 Posted: 01 Apr 2007
Xavier Gabaix
Harvard University - Department of Economics
Downloads 1,435 (17,027)

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Rare Disasters, Stochastic Discount Factor, Linearity-generating process, Long term risk, Interest rate processes, Yield curve, Bond pricing, Equity Premium, Value Premium, Risk-free rate puzzle, Excess volatility, Forward premium puzzle, Uncovered interest rate parity puzzle

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

Review of Financial Studies, Vol. 22, No. 12, pp. 4881-4917, December 2009, EFA 2008 Athens Meetings Paper
Number of pages: 42 Posted: 19 Mar 2008 Last Revised: 07 Dec 2011
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 1,253 (20,485)
Citation 43

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Executive compensation, multiplicative preferences, pay-performance sensitivity, incentives, perks, optimal contracting, calibration

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

The Review of Financial Studies, Vol. 22, Issue 12, pp. 4881-4917, 2009
Posted: 24 Nov 2009
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC

Abstract:

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D2, D3, G34, J3

16.

The Allocation of Attention: Theory and Evidence

MIT Department of Economics Working Paper No. 03-31
Number of pages: 45 Posted: 16 Sep 2003
Harvard University - Department of Economics, Harvard University - Department of Economics, University of Chicago - Department of Economics and Harvard University
Downloads 1,114 (24,788)
Citation 28

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attention, satisficing, Mouselab, bounded rationality, behavioral economics, experimental economics, cognitive modeling

17.
Downloads 1,105 ( 25,090)
Citation 54

The Effect of Risk on the CEO Market

Review of Financial Studies 24(8), 2822-2863, August 2011
Number of pages: 44 Posted: 31 Dec 2009 Last Revised: 20 Dec 2013
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1,056 (26,377)
Citation 12

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Executive compensation, incentives, talent, market equilibrium, risk, assignment

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOS?

Number of pages: 43 Posted: 17 May 2010 Last Revised: 08 Sep 2021
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 44 (522,016)

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Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?

Number of pages: 45 Posted: 19 Jul 2010
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 5 (797,409)
Citation 1
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assignment, executive compensation, incentives, market equilibrium, risk, talent

Rank-1/2: A Simple Way to Improve the OLS Estimation of Tail Exponents

Harvard Institute of Economic Research Discussion Paper No. 2106
Number of pages: 34 Posted: 07 Feb 2006 Last Revised: 19 Jun 2009
Xavier Gabaix and Rustam Ibragimov
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 931 (31,608)
Citation 32

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power law, heavy-tailedness, OLS log-log rank-size regression, bias, standard errors, Zipf's law

Rank-1/2: A Simple Way to Improve the Ols Estimation of Tail Exponents

Number of pages: 37 Posted: 14 Sep 2007 Last Revised: 10 Jun 2021
Rustam Ibragimov and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 38 (552,644)
Citation 10

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Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market

EFA 2004 Maastricht Meetings Paper No. 4940, Fifteenth Annual Utah Winter Finance Conference
Number of pages: 44 Posted: 11 Jun 2004
Harvard University - Department of Economics, Northwestern University - Kellogg School of Management and UBM
Downloads 907 (32,786)
Citation 4

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Market segmentation, prepayment risk, liquidity, limited capital, hedge funds, limits to arbitrage.

Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market

Number of pages: 47 Posted: 08 Mar 2006 Last Revised: 20 Nov 2021
Harvard University - Department of Economics, Northwestern University - Kellogg School of Management and UBM
Downloads 60 (453,707)
Citation 25

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20.
Downloads 681 ( 49,121)
Citation 165

International Liquidity and Exchange Rate Dynamics

Number of pages: 67 Posted: 07 Dec 2013 Last Revised: 21 Jul 2015
Xavier Gabaix and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 647 (51,866)
Citation 2

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Exchange Rate Disconnect, Capital Flows, FX Intervention, Limits of Arbitrage

International Liquidity and Exchange Rate Dynamics

Number of pages: 68 Posted: 25 Jan 2014 Last Revised: 07 Oct 2021
Xavier Gabaix and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 33 (580,921)
Citation 51

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International Liquidity and Exchange Rate Dynamics

Number of pages: 66 Posted: 02 Jun 2014
Xavier Gabaix and Matteo Maggiori
Harvard University - Department of Economics and Harvard University
Downloads 1 (838,783)
Citation 80
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Capital Flows, Exchange Rate Disconnect, Foreign Exchange Intervention, Limits of Arbitrage

21.
Downloads 646 ( 52,647)
Citation 180

The Granular Origins of Aggregate Fluctuations

Number of pages: 44 Posted: 23 Mar 2008 Last Revised: 18 Aug 2009
Xavier Gabaix
Harvard University - Department of Economics
Downloads 601 (57,037)
Citation 125

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Business cycle, idiosyncratic shocks, productivity, Solow residual, granular residual, comovement

The Granular Origins of Aggregate Fluctuations

Number of pages: 45 Posted: 25 Aug 2009 Last Revised: 09 Oct 2021
Xavier Gabaix
Harvard University - Department of Economics
Downloads 45 (517,257)
Citation 10

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Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance

AFA 2009 San Francisco Meetings Paper
Number of pages: 44 Posted: 18 Mar 2008
Xavier Gabaix
Harvard University - Department of Economics
Downloads 468 (77,985)
Citation 55

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Rare disasters, Asset Pricing Puzzles, Return predictability, Crash risk, Equilibrium asset pricing

Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance

NYU Working Paper No. 2451/28349
Number of pages: 44 Posted: 08 Dec 2009
Xavier Gabaix
Harvard University - Department of Economics
Downloads 78 (393,291)
Citation 97

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Variable Rare Disasters: An Exactly Solved Framework for Ten Puzzles in Macro-Finance

Number of pages: 45 Posted: 11 Jan 2008 Last Revised: 03 Jul 2010
Xavier Gabaix
Harvard University - Department of Economics
Downloads 51 (489,970)

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Linearity-Generating Processes, Unspanned Stochastic Volatility, and Interest-Rate Option Pricing

Number of pages: 51 Posted: 19 Mar 2011
Peter Carr, Xavier Gabaix and Liuren Wu
New York University Finance and Risk Engineering, Harvard University - Department of Economics and City University of New York, CUNY Baruch College - Zicklin School of Business
Downloads 560 (63,098)
Citation 10

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24.
Downloads 478 ( 66,007)
Citation 104

Rare Disasters and Exchange Rates

Paris December 2007 Finance International Meeting AFFI-EUROFIDAI Paper
Number of pages: 70 Posted: 13 Dec 2007 Last Revised: 15 Oct 2014
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 406 (92,272)
Citation 2

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Disaster risk, forward premium puzzle, uncovered interest rate parity, risk-reversals, international macro-finance puzzles

Rare Disasters and Exchange Rates

Number of pages: 47 Posted: 13 Feb 2008 Last Revised: 22 Sep 2021
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 72 (411,797)
Citation 15

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Rare Disasters and Exchange Rates

Number of pages: 72 Posted: 23 Jan 2015
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 0
Citation 26
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disaster risk, forward premium puzzle, international macro-finance puzzles, risk-reversals, uncovered interest rate parity

The 6d Bias and the Equity Premium Puzzle

Harvard Institute of Economic Research Paper No. 1947; MIT Department of Economics Working Paper No. 02-01
Number of pages: 47 Posted: 17 Jan 2002
Xavier Gabaix and David Laibson
Harvard University - Department of Economics and Harvard University - Department of Economics
Downloads 519 (68,687)
Citation 56

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6D, bounded rationality, decision costs, delayed adjustment, equity premium puzzle

The 6d Bias and the Equity Premium Puzzle

Posted: 08 Feb 2002
Xavier Gabaix and David Laibson
Harvard University - Department of Economics and Harvard University - Department of Economics

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6D, bounded rationality, decision costs, delayed adjustment, equity premium puzzle

26.
Downloads 401 ( 94,363)
Citation 40

Tractability in Incentive Contracting

Review of Financial Studies, Forthcoming
Number of pages: 31 Posted: 22 Jul 2008 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 372 (102,071)
Citation 1

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Contract theory, executive compensation, incentives, principal-agent problem, closed forms, multiperiod contracts, multiperiod games.

Tractability in Incentive Contracting

Number of pages: 67 Posted: 01 Dec 2009 Last Revised: 24 Jun 2021
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 26 (626,396)
Citation 1

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Tractability in Incentive Contracting

Number of pages: 69 Posted: 11 Jan 2010
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 3 (814,779)
Citation 4
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closed forms, contract theory, dispersive order, executive compensation, incentives, principal-agent problem, subderivative

27.
Downloads 282 (138,838)
Citation 171

A Sparsity-Based Model of Bounded Rationality

AFA 2013 San Diego Meetings Paper
Number of pages: 52 Posted: 08 Mar 2011 Last Revised: 18 Mar 2012
Xavier Gabaix
Harvard University - Department of Economics
Downloads 248 (157,625)
Citation 22

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anchoring and adjustment, inattention, boundedly rational dynamic programming, price rigidity, hedging demand, sparse representations, L1 minimization, dictionaries

A Sparsity-Based Model of Bounded Rationality

Number of pages: 41 Posted: 04 Apr 2011 Last Revised: 17 Sep 2021
Xavier Gabaix
Harvard University - Department of Economics
Downloads 34 (575,021)
Citation 64

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28.

A Primer on Tractable Incentive Contracts

Number of pages: 8 Posted: 24 Jun 2011 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 275 (142,602)

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Contract theory, executive compensation, incentives, principal-agent problem, closed forms, multiperiod contracts

29.

Trade Patterns, Trade Balances and Idiosyncratic Shocks

Banco de España Research Paper No. WP-0721, "la Caixa" Working Paper No. 02/2007
Number of pages: 45 Posted: 03 Jul 2007 Last Revised: 30 Apr 2008
La Caixa, Harvard University - Department of Economics, Banco de España and Columbia University - Graduate School of Arts and Sciences - Department of Economics
Downloads 145 (255,196)
Citation 60

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trade balance, trade concentration, firms, empirical

30.

The Tractable 'Quadratic' Class of Growth and Interest Rate Processes

MIT Department of Economics Working Paper No. 06-17
Number of pages: 31 Posted: 13 Jun 2006
Xavier Gabaix
Harvard University - Department of Economics
Downloads 132 (274,691)

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Long term risk, Growth rate risk, Perpetuity, Modified Gordon growth model, Yield curve, Interest rate processes, Stochastic Discount Factor, Quadratic processes

Linearity-Generating Processes: A Modelling Tool Yielding Closed Forms for Asset Prices

NYU Working Paper No. FIN-07-006
Number of pages: 44 Posted: 03 Nov 2008
Xavier Gabaix
Harvard University - Department of Economics
Downloads 70 (418,254)

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Modified Gordon growth model, Stochastic Discount Factor, Long term risk, Interest rate processes, Bond premia, Equity Premium

Linearity-Generating Processes: A Modelling Tool Yielding Closed Forms for Asset Prices

Number of pages: 53 Posted: 26 Sep 2007 Last Revised: 14 Mar 2021
Xavier Gabaix
Harvard University - Department of Economics
Downloads 60 (453,707)

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A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

NYU Working Paper No. FIN-07-022
Number of pages: 50 Posted: 03 Nov 2008
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 83 (378,889)

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A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

Number of pages: 51 Posted: 10 Sep 2007 Last Revised: 17 Jul 2021
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 32 (586,843)

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33.
Downloads 88 (362,272)
Citation 60

Behavioral Inattention

Number of pages: 96 Posted: 16 Dec 2017
Xavier Gabaix
Harvard University - Department of Economics
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Citation 52

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Behavioral Inattention

Number of pages: 98 Posted: 22 Oct 2018
Xavier Gabaix
Harvard University - Department of Economics
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Behavioral Macroeconomics via Sparse Dynamic Programming

Number of pages: 135 Posted: 20 Dec 2015
Xavier Gabaix
Harvard University - Department of Economics
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Bounded rationality, inattention

Behavioral Macroeconomics Via Sparse Dynamic Programming

Number of pages: 55 Posted: 12 Jan 2016 Last Revised: 14 Mar 2021
Xavier Gabaix
Harvard University - Department of Economics
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Citation 1

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Behavioral Macroeconomics Via Sparse Dynamic Programming

Number of pages: 56 Posted: 12 Jan 2016
Xavier Gabaix
Harvard University - Department of Economics
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Bounded rationality, inattention, simplification

35.

Tractability and Detail-Neutrality in Incentive Contracting

NYU Working Paper No. FIN-08-019
Number of pages: 46 Posted: 09 Mar 2009
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 72 (407,082)

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36.

The Great Diversification and its Undoing

Number of pages: 50 Posted: 30 Sep 2010
Vasco M. Carvalho and Xavier Gabaix
Universitat Pompeu Fabra/CREI and Harvard University - Department of Economics
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Citation 4

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shocks, origins of the business cycle, great moderation, structural change, granularity

37.
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Citation 50

A Behavioral New Keynesian Model

Number of pages: 60 Posted: 19 Dec 2016 Last Revised: 20 Sep 2021
Xavier Gabaix
Harvard University - Department of Economics
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Citation 47

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A Behavioral New Keynesian Model

Number of pages: 71 Posted: 03 Jan 2017
Xavier Gabaix
Harvard University - Department of Economics
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behavioral macroeconomics, bounded rationality, forward guidance, price level targetting, zero lower bound

38.
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Citation 64

The Dynamics of Inequality

Number of pages: 46 Posted: 20 Jul 2015 Last Revised: 15 Nov 2021
Harvard University - Department of Economics, BNP Paribas, Université Paris Dauphine - CEREMADE and Princeton University - Department of Economics
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The Dynamics of Inequality

Number of pages: 39 Posted: 12 Jan 2016
Harvard University - Department of Economics, BNP Paribas, Université Paris Dauphine - CEREMADE and Princeton University - Department of Economics
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Citation 41
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inequality, operator methods, Pareto distribution, speed of transition, superstars

39.

Optimal Taxation with Behavioral Agents

Number of pages: 54 Posted: 08 Sep 2015 Last Revised: 25 Apr 2021
Emmanuel Farhi and Xavier Gabaix
Harvard University - Department of Economics and Harvard University - Department of Economics
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Citation 26

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40.

The Area and Population of Cities: New Insights from a Different Perspective on Cities

Number of pages: 28 Posted: 13 Oct 2009 Last Revised: 09 Aug 2021
City College of New York, City College of New York, Harvard University - Department of Economics and City College of New York
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Citation 11

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41.
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Citation 4

Myopia and Discounting

Number of pages: 38 Posted: 20 Mar 2017 Last Revised: 17 Jul 2021
Xavier Gabaix and David Laibson
Harvard University - Department of Economics and Harvard University - Department of Economics
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Citation 2

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Myopia and Discounting

Number of pages: 40 Posted: 20 Mar 2017
Xavier Gabaix and David Laibson
Harvard University - Department of Economics and Harvard University - Department of Economics
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Behavioral economics, discounting, myopia

Boundedly Rational Dynamic Programming: Some Preliminary Results

Number of pages: 12 Posted: 25 Feb 2012 Last Revised: 05 Aug 2021
Xavier Gabaix
Harvard University - Department of Economics
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Boundedly Rational Dynamic Programming: Some Preliminary Results

Posted: 01 Mar 2012
Xavier Gabaix
Harvard University - Department of Economics

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behavioral economics, bounded rationality, inattention, intertemporal elasticity of substitution

43.
Downloads 31 (578,115)
Citation 77

The Great Diversification and its Undoing

Number of pages: 51 Posted: 04 Oct 2010 Last Revised: 18 Nov 2021
Vasco M. Carvalho and Xavier Gabaix
Universitat Pompeu Fabra/CREI and Harvard University - Department of Economics
Downloads 28 (612,495)
Citation 10

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The Great Diversification and its Undoing

Number of pages: 53 Posted: 22 Nov 2010
Vasco M. Carvalho and Xavier Gabaix
Universitat Pompeu Fabra/CREI and Harvard University - Department of Economics
Downloads 3 (814,779)
Citation 24
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granularity, great moderation, origins of the business cycle, shocks, structural change

44.
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Citation 14

CEO Pay and Firm Size: An Update after the Crisis

Number of pages: 38 Posted: 31 May 2013 Last Revised: 19 Aug 2021
Xavier Gabaix, Augustin Landier and Julien Sauvagnat
Harvard University - Department of Economics, HEC and Bocconi University
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Citation 2

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CEO Pay and Firm Size: An Update after the Crisis

Number of pages: 40 Posted: 06 Jun 2013
Xavier Gabaix, Augustin Landier and Julien Sauvagnat
Harvard University - Department of Economics, HEC and Bocconi University
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Citation 3
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assignment models, economics of superstars, Executive pay, inequality, matching.