Peter J. Klenow

The papers with Bils (JPE 2004) and with Kryvtsov (QJE 2008) carefully document the frequency and size of price changes for most consumer goods, providing a foundation and challenge for modern macroeconomic models of price rigidities. The papers with Rodriguez-Clare (NBER Macro Annual 1997) and Bils (AER 2000) assess the role of human capital in explaining cross-country differences in income levels, carefully separating cause and effect in the schooling-growth relationship. In work with Hsieh, (AER 2007 and QJE 2009), he looks at savings and investment rates, and at factor misallocation, as determinants of cross-country differences in income levels.