Staff Economists

Kartik Athreya

headshot of Kartik Athreya

My research interests are in macroeconomics and consumer finance. My current research aims to measure and understand household financial distress and debt repayment decisions, to quantify the links between household investments in human capital and in the stock market, and to assess the importance of risks associated with college enrollment for educational attainment and inequality.

Professional Experience

Kartik Athreya is executive vice president and director of research at the Federal Reserve Bank of Richmond. Athreya's work has been published in the Journal of Monetary Economics, American Economic Journal: Macroeconomics, the International Economic Review, the Review of Economic Dynamics, the Journal of Economic Dynamics and Control, and other academic journals. He is also an associate editor at the Journal of Economic Dynamics and Control. Recently, Athreya taught a doctoral course at the University of Virginia.

Education

Ph.D., University of Iowa, 2000
B.S., Iowa State University, 1993

Curriculum vitae

"Bankruptcy and Delinquency in a Model of Unsecured Debt" (joint with Juan Sánchez, Xuan S. Tam, and Eric R. Young). International Economic Review (forthcoming).

"Does Redistribution Increase Output? The Centrality of Labor Supply" (joint with Andrew Owens and Felipe Schwartzman). Quantitative Economics (forthcoming).

"Labor Market Upheaval, Default Regulations, and Consumer Debt" (with Juan Sánchez, Xuan S. Tam, and Eric R. Young). Review of Economic Dynamics 18, no. 1 (January 2015): 32-52.

"A Quantitative Theory of Information and Unsecured Credit" (with Xuan S. Tam and Eric Young). American Economic Journal: Macroeconomics 4, no. 3 (July 2012): 153-183.

"Credit and Self-Employment" (with Ahmet Akyol). Journal of Economic Dynamics and Control 35, no. 3 (March 2011): 363-385.

"Self-Employment Rates and Business Size: The Roles of Occupational Choice and Credit Market Frictions" (with Ahmet Akyol). Annals of Finance 5, no. 3-4 (June 2009): 495-519.

"Unsecured Credit Markets Are Not Insurance Markets" (with Xuan S. Tam and Eric R. Young). Journal of Monetary Economics 56, no. 1 (January 2009): 83-103.

"Default, Insurance, and Debt over the Life-Cycle." Journal of Monetary Economics 55, no. 4 (May 2008): 752-774.

"Fresh Start or Head Start? Uniform Bankruptcy Exemptions and Welfare." Journal of Economic Dynamics and Control 30, no. 11 (November 2006): 2051-2079.

"Unsecured Debt with Public Insurance: From Bad to Worse" (with Nicole B. Simpson). Journal of Monetary Economics 53, no. 4 (May 2006): 797-825.

"Risky Higher Education and Subsidies" (with Ahmet Akyol). Journal of Economic Dynamics and Control 29, no. 6 (June 2005): 979-1023.

"Welfare Implications of the Bankruptcy Reform Act of 1999." Journal of Monetary Economics 49, no. 8 (November 2002): 1567-1595.

Third Quarter 2015

Understanding Living Wills

Kartik B. Athreya and Arantxa Jarque

Second Quarter 2015

Land of Opportunity: Economic Mobility in the United States

Kartik B. Athreya and Jessie Romero

First Quarter 2015

Systemic Risk and the Pursuit of Efficiency

Kartik B. Athreya

Fourth Quarter 2014

Loan Guarantees for Consumer Credit Markets

Kartik B. Athreya, Xuan S. Tam and Eric R. Young

Fourth Quarter 2012

Debt Default and the Insurance of Labor Income Risk

Kartik B. Athreya, Xuan S. Tam and Eric R. Young

Third Quarter 2010

Earned Income Tax Credit Recipients: Income, Marginal Tax Rates, Wealth, and Credit Constraints

Kartik B. Athreya, Devin Reilly and Nicole B. Simpson

Winter 2009

Consumption Smoothing and the Measured Regressivity of Consumption Taxes

Kartik B. Athreya and Devin Reilly

Winter 2007

Implications of Some Alternatives to Capital Income Taxation

Kartik B. Athreya and Andrea L. Waddle

Winter 2006

Credit Exclusion in Quantitative Models of Bankruptcy: Does It Matter?

Kartik B. Athreya and Hubert P. Janicki

Spring 2003

Unemployment Insurance and Personal Bankruptcy

Kartik B. Athreya

September 2016, No. 16-12

Bankruptcy and Delinquency in a Model of Unsecured Debt

Kartik B. Athreya, Juan M. Sanchez, Xuan S. Tam and Eric R. Young

June 2015, No. 15-07R

Stock Market Participation: The Role of Human Capital (Revised June 2016)

Kartik B. Athreya, Felicia Ionescu and Urvi Neelakantan

April 2014, No. 14-11R

Young Unskilled Women and the Earned Income Tax Credit: Insurance Without Disincentives? (Revised July 2014)

Kartik B. Athreya, Devin Reilly and Nicole B. Simpson

March 2013, No. 13-02R

Risk, the College Premium, and Aggregate Human Capital Investment (Revised November 2016)

Kartik B. Athreya and Janice Eberly

October 2011, No. 11-06

Loan Guarantees for Consumer Credit Markets

Kartik B. Athreya, Xuan S. Tam and Eric R. Young

August 2009, No. 09-11

Are Harsh Penalties for Default Really Better?

Kartik B. Athreya, Xuan S. Tam and Eric R. Young

April 2009, No. 09-5

Credit and Self-Employment

Kartik B. Athreya and Ahmet Akyol

October 2008, No. 08-6R

A Quantitative Theory of Information and Unsecured Credit (Revised July 2011)

Kartik B. Athreya, Xuan S. Tam and Eric R. Young

November 2003, No. 03-14R

Unsecured Debt with Public Insurance: From Bad to Worse (Revised: Nov. 2004)

Kartik B. Athreya and Nicole B. Simpson

August 2003, No. 03-2

Risky Higher Education and Subsidies

Kartik B. Athreya and Ahmet Akyol

January 2017, No. 17-01

Does Redistribution Increase Output?

Kartik B. Athreya, Andrew Owens, Jessie Romero and Felipe F. Schwartzman

May 2014, No. 14-05

Expanding the Scope of Workforce Development

Kartik B. Athreya, Urvi Neelakantan and Jessie Romero

July 2013, No. 13-07

Land of Opportunity? Economic Mobility in the United States

Kartik B. Athreya and Jessie Romero

June 2013, No. 13-06

Implications of Risks and Rewards in College Decisions

Kartik B. Athreya and David A. Price

April 2012, No. 12-04

The Spice of Life: Allowing for Heterogeneity in Macro Models

Kartik B. Athreya and Renee Haltom

March 2011, No. 11-03

The Earned Income Tax Credit: Recipients, Labor Force Participation, and Credit Constraints

Kartik B. Athreya and Aaron Steelman

August 2009, No. 09-08

Recent Fiscal Policy and the Manipulation of Aggregate Economic Activity

Kartik B. Athreya and Renee Haltom

March 2009, No. 09-03

Rationalizing Financial Literacy Policy

Kartik B. Athreya and Anne Stiwell

  Annual Report - 2012
  Land of Opportunity? Economic Mobility in the United States
  Kartik B. Athreya and Jessie Romero


  Annual Report - 2009
  Systemic Risk and the Pursuit of Efficiency
  Kartik B. Athreya

"Record-Keeping in Consumer Credit Markets" (joint with Meta Brown, Eric R. Young, and Xuan S. Tam).

"Investment Opportunities and Inequality" (joint with Felicia F. Ionescu, Urvi Neelakantan, and Ivan Vidangos).

"The Persistence of Household Financial Distress" (joint with José Mustre-del-Río and Juan Sánchez).

"Why is There (still) No Private-Equity Premium?" (joint with Ahmet Akyol, Pierre Sarte, and Eric R. Young).

"Income Floors and Interest-Rate Ceilings."

"The Skill Premium and Household Indebtedness: A Tale of Five Series" (joint with Felicia F. Ionescu and B. Ravikumar).

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