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Staff Economists

John Bailey Jones

headshot of John Jones

My principal research areas are applied macroeconomics and structural econometrics. My research interests include life-cycle consumption and labor supply, health economics, dynamic investment decisions, and fiscal policy.

Professional Experience

John Bailey Jones joined the Research Department as a senior economist and research advisor in September 2016. Jones has served as a consultant to the Federal Reserve Bank of Richmond and the Federal Reserve Bank of Chicago. Before joining the Richmond Fed, he taught economics at the University of Albany, SUNY.


Ph.D., University of Wisconsin-Madison, 1998
M.A., University of Wisconsin-Madison, 1995
B.A., College of William and Mary, 1987

Curriculum vitae
Personal website

May 2017, No. 17-07

An Estimated Structural Model of Entrepreneurial Behavior

John Bailey Jones and Sangeeta Pratap

February 2017, No. 17-03

Health, Health Insurance, and Retirement: A Survey

John Bailey Jones and Eric French

November 2017, No. 17-11

Can We Tax Social Security Benefits More Efficiently?

John Bailey Jones and Helen Fessenden

May 2017, No. 17-05

Medical Spending in Old Age

John Bailey Jones and Jessie Romero

"The Accuracy of Economic Measurement in the Health and Retirement Study" (with Eric French and Jeremy McCauley). Forum for Health Economics and Policy (forthcoming).

"Transition Accounting for India in a Multi-sector Dynamic General Equilibrium Model" (with Sohini Sahu). Economic Change and Restructuring 50, no. 4 (November 2017): 299-339.

"Health, Health Insurance and Retirement: A Survey" (with Eric French). Annual Review of Economics 9, no. 1 (August 2017): 383-409.

"End-Of-Life Medical Spending In Last Twelve Months Of Life Is Lower Than Previously Reported" (with Eric French, et al.). Health Affairs 36, no. 7 (July 2017): 1211-1217.

"Medicaid Insurance in Old Age" (joint with Mariacristina De Nardi and Eric French). American Economic Review 106, no. 11 (November 2016): 3480-3520.

"Savings After Retirement: A Survey" (joint with Mariacristina De Nardi and Eric French). Annual Review of Economics 8 (October 2016): 177-204.

"Medical Spending of the U.S. Elderly" (joint with Mariacristina De Nardi, Eric French and Jeremy McCauley). Fiscal Studies 37, no. 3-4 (September-December 2016): 717-747.

"Skill-biased Technical Change and the Cost of Higher Education" (joint with Fang Yang). Journal of Labor Economics 34, no. 3 (July 2016).

"Public Pensions and Labor Supply over the Life Cycle" (with Eric French). International Tax and Public Finance 19, no. 2 (April 2012): 268-287.

"The Effects of Health Insurance and Self-Insurance on Retirement Behavior" (with Eric French), Econometrica 79, no. 3 (May 2011): 693-732.

"Why do the Elderly Save? The Role of Medical Expenses" (with Mariacristina De Nardi and Eric French). Journal of Political Economy 118, no. 1 (February 2010): 39-75.

"Life Expectancy and Old Age Savings" (joint with Mariacristina De Nardi and Eric French). American Economic Review: Papers and Proceedings 99, no. 2 (May 2009): 110-115.

"Financial Liberalization and Banking Crises in Emerging Economies" (with Betty C. Daniel). Journal of International Economics 72, no. 1 (May 2007): 202-221.

"Optimal Investment with Lumpy Costs" (with Duc T. Le). Journal of Economic Dynamics and Control 29, no. 7 (July 2005): 1211-1236.

"On the Distribution and Dynamics of Health Care Costs" (with Eric French). Journal of Applied Econometrics 19, no. 6 (2004): 705-721.

"The Dynamic Effects of Firm-Level Borrowing Constraints.Journal of Money, Credit and Banking 35, no. 5 (October 2003): 743-762.

"Finite Mixture Distributions, Sequential Likelihood and the EM Algorithm" (with Peter Arcidiacono). Econometrica 71, no. 3 (May 2003): 933-946.

"Has Fiscal Policy Helped Stabilize the Postwar U.S. Economy?Journal of Monetary Economics 49, no. 4 (May 2002): 709-746.

Contact Us

John Bailey Jones
(804) 663-8206