Erik Hurst
University of Chicago
Booth School of Business

(Updated April 2016)

Summary of Research

1.    Publications:  Journal Articles

Regional Redistribution through the U.S. Mortgage Market (with Ben Keys, Amit Seru, and Joe Vavra), American Economic Review, forthcoming, PDF

The Masking of the Decline in Manufacturing Employment by the Housing Bubble (with Kerwin Charles and Matthew Notowidigdo), Journal of Economic Perspectives, forthcoming, PDF

Are Household Surveys Like Tax Forms: Evidence from Income Underreporting of the Self Employed (with Geng Li and Ben Pugsley), Review of Economics and Statistics, 2014, 96(1), 19-33. PDF

Online Robustness Appendix for "Are Household Surveys Like Tax Forms: Evidence from Income Underreporting of the Self EThemployed" PDF

Deconstructing Lifecycle Expenditure (with Mark Aguiar), Journal of Political Economy, 2013, 212(1), 437-92.  PDF

Online Robustness Appendix for "Decontructing Lifecycle Expenditure"   PDF

Data page for "Deconstructing Lifecycle Expenditure" (here)

Time Use During the Great Recession (with Mark Aguiar and Loukas Karabarbounis), American Economic Review, 2013, 103(5), 1664-96. PDF

Online Robustness Appendix for "Time Use During the Great Recession" PDF

Data page for "Time Use During the Greate Recession" (here)

Endogenous Gentrification and Housing Price Dynamics (with Veronica Guerrieri and Dan Hartley), Journal of Public Economics, 2013, 103(5):1664-96. PDF

Online Robustness Appendix for "Endogneous Gentrification and Housing Price Dynamics" PDF

Data page for "Endogenous Gentrification and Housing Price Dynamics" can be found here PDF

The Life-Cycle Profile of Time Spent on Job Search (with Mark Aguiar and Loukas Karabarbounis), American Economic Review Papers and Proceedings, 2013, 103(3), 111-16. PDF

Parental Wealth and Marriage (with Kerwin Charles and Alexandra Killewald), Demography, 2013, 50(1), 51-70. PDF

Recent Developments in the Economics of Time Use (with Mark Aguiar and Loukas Karabarbounis), Annual Review of Economics, 2012, Volume 4. PDF

Within City Variation in Urban Decline: The Case of Detroit (with Veronica Guerrieri and Dan Hartley), American Economic Review Papers and Proceedings, 102(3), 120-26 PDF

What Do Small Businesses Do (with Ben Pugsley), Brookings Papers on Economic Activity, 2011 (Fall). PDF

The Importance of Business Owners in Assessing the Size of Precautionary Savings (with Anna Lusardi, Arthur Kennickell, and Francisco Torralba, Review of Economics and Statistics, 2010, 92(1), 61-9. PDF

Online Robustness Appendix PDF

Longer (NBER Working Paper 11731) Version (titled Precautionary Savings and the Importance of Business Owners  PDF 

Conspicuous Consumption and Race (with Kerwin Charles and Nick Roussanov), Quarterly Journal of Economics, 2009 (May), 124(2), 42-67. PDF

Data Page For Conspicuous Consumption and Race

Robustness Appendix for Conspicuous Consumption and Race  PDF

A Summary of Trends in U.S. Time Use:  1965- 2005 (with Mark Aguiar)  Social Indicators Research, 2009, 93(1), 57-64 PDF

Parental Education and Parental Time With Children (with Jon Guryan and Melissa Kearney) Journal of Economic Perspectives, 2008, 22(3), 23-46. PDF

Rates for Vehicle Loans:  Race and Loan Source (with Kerwin Charles and Mel Stephens)  American Economic Review Papers and Proceedings, 2008, 98(2), 315-20. PDF

Lifecycle Prices and Production  (with Mark Aguair)  American Economic Review, December 2007, 97(5), 1533-59   PDF   

Data Page for Lifecycle Prices and Production

Measuring Trends in Leisure:  The Allocation of Time Over Five Decades (with Mark Aguiar) Quarterly Journal of Economics, August 2007, 122(3), 969-1006    PDF

Data Page for Measuring Trends in Leisure

Response to Ramey's Comment on Measuring Trends in Leisure

Social Security and Unsecured Debt (with Paul Willen) Journal of Public Finance, August 2007, 91(7-8), 1273-97   PDF  

Do Welfare Asset Limits Affect Household Saving?  Evidence from Welfare Reform (with Jim Ziliak).  Journal of Human Resource, Winter 2006, 41(1), 46-71. PDF 

Consumption vs. Expenditure (with Mark Aguiar)Journal of Political Economy, October 2005,  113(5), 919-948PDF

Liquidity Constraints, Household Wealth and Entrepreneurship (with Anna Lusardi).   Journal of Political Economy, April 2004, 112(2), 319-347.    PDF

The Correlation of Wealth Across Generations (with Kerwin Charles).  Journal of Political Economy, December 2003, 111(6), 1155-1182.   PDF

Home is Where the Equity Is:  Liquidity Constraints, Refinancing and Consumption (with Frank Stafford). Journal of Money, Credit and Banking,  December 2004, 36(6) 985 - 1014.   PDF

The Consumer Bankruptcy Decision (with Scott Fay and Michelle White).  American Economic Review, June 2002, 92(3), 706-718.  PDF   (data for the bankruptcy paper)

The Transition to Home Ownership and the Black/White Wealth Gap (with Kerwin Charles).  Review of Economics and Statistics, May 2002, 84(2), 281-297.  PDF

Wealth Dynamics of American Families:  1984 - 1994 (with Ming Ching Luoh and Frank Stafford):  Brookings Papers on Economic Activity 1: 1998.    PDF

An Empirical Estimation of SS-Rules (with Christopher Foote and John Leahy).  American Economic Review Papers and Proceedings, May 2000, 90(2), 116-119.

2.   Publications:    Book Entries and Conference Volumes

Wealth, Tastes, and Entrepreneurial Choice (with Ben Pugsley) in Measuring Entrepreneurial Businesses: Current Knowledge and Challenges (eds. John Haltiwanger, Erik Hurst, Javier Miranda, and Antoinette Schoar), forthcoming, PDF

The Evolution of Income, Consumption, and Leisure Inequality in the US, 1980-2010 (with Orazio Attanasio and Luigi Pistaferri) in Improving Measurement of Consumer Expenditures (eds. Chris Carroll, Thomas Crossley, and John Sabelhaus) (version: April 2012) PDF

Discussion of “The Increase in Income Cyclicality of High-Income Households and its Relation to the Rise in Top Income Shares” by Jonathan Parker and Annette Vissing-Jorgensen in Brooking Papers on Economic Activity, Fall 2010, ed. David Romer and Justin Wolfers, Brookings Institution Press.

Discussion of “The Rug Rat Race” by Garey Ramey and Valerie Ramey in Brooking Papers on Economic Activity, Spring 2010, ed. David Romer and Justin Wolfers, Brookings Institution Press.

The Increase in Leisure Inequality:  1965 - 2005 (with Mark Aguiar), The Amreican Enterprise Institute for Public Policy Research, Washington, DC (2009).   PDF 

Understanding Consumption in Retirement:  Recent Developments, in Recalibrating Retirement Spending and Saving (eds. John Americks and Olivia Mitchell) (2007) PDF 

             Slightly updated NBER version of the paper entitled "The Retirement of a Consumption Puzzle"  PDF

The Permanent Income Hypothesis,  New Palgrave Dictionary of Economics, 2nd Edition (With Mark Aguiar)  (Version:  April 2006)  PDF

Liquidity Constraints and Entrepreneurship, Household Wealth, Parental Wealth, adn the Transition In and Out of Entrepreneurship (with Anna Lusardi), in "Overcoming Barriers to Entrepreneurship in the United States" ed. Diana Furchtogott-Roth, Lexington Books, 2008.  PDF

3.    Working Papers

"Housing Booms, Manufacturing Decline and Labor Market Outcomes" (NBER Working Paper: w18949), (Version March 2016), revision requested Economic Journal, PDF

"The Aggregate Implications of Regional Business Cycles" (with Martin Beraja and Juan Ospina) (Version March 2016), revision requested Econometrica, PDF Online Appendix

"Housing Booms and Busts, Labor Market Opportunities, and College Attendance" (with Kerwin Charles and Matt Notowidigdo) (Version November 2015), revision requested American Economic Review, PDF (online appendix here) (Data Page Data Page)

"The Allocation of Talent and U.S. Economic Growth" (with Chang-Tai Hsieh, Chad Jones, and Pete Klenow) (Version August 2016) PDF (Online Appendix is Here) Data Page, revision requested to Econometrica

"Leisure Luxuries and the Labor Supply of Young Men" (with Mark Aguiar, Mark Bils, and Kewin Charles) coming soon

Grasshoppers, Ants and Pre-Retirement Wealth:  A Test of Permanent Income Consumers.  (Version:  March 2006)   PDF   (NBER Working Paper #10098)   

Executive Education Power Point PDF


**** bartik file for all groups combined *****