Economists

Marios Karabarbounis

Marios Karabarbounis is an economist in the Research Department. He joined the Federal Reserve Bank of Richmond in 2012 after earning his doctorate from the University of Rochester.

Karabarbounis' research interests are in macroeconomics and labor economics.

Academic Publications

Income Volatility and Portfolio Choices

Review of Economic Dynamics, forthcoming

Yongsung Chang, Jay H. Hong, Marios Karabarbounis and Yicheng Wang

Previous Version: Working Paper, March 2020, No. 20-01R

Misallocation and Financial Frictions: The Role of Long-Term Financing

Review of Economic Dynamics, Vol. 40, April 2021: Pages 44-63

Marios Karabarbounis and Patrick Macnamara

Previous Version: Working Paper, January 2019, No. 19-01R

Labor Market Uncertainty and Portfolio Choice Puzzles

American Economic Journal: Macroeconomics, April 2018, Vol. 10: 222-262

Yongsung Chang, Jay H. Hong and Marios Karabarbounis

Previous Version: Working Paper, June 2014, No. 14-13R

A Road Map for Efficiently Taxing Heterogeneous Agents

American Economic Journal: Macroeconomics, Vol. 8, April 2016: 182-214

Marios Karabarbounis

Previous Version: Working Paper, September 2013, No. 13-13R
Bank Publications

Economic Brief, November 2022, No. 22-44

How Did Pandemic UI Benefits Affect Employment Recovery in Local Industry Markets?

Pandemic-era unemployment insurance affected recoveries of low-wage job markets and high-wage job markets differently.

Andreas Hornstein, Marios Karabarbounis, André Kurmann and Etienne Lale

Economic Brief, February 2022, No. 22-04

Does Infrastructure Spending Boost the Economy?

Studies suggest that short-term effects of such spending are small and long-term effects depend on an economy's sensitivity to such investment.

Marios Karabarbounis

Economic Brief, August 2021, No. 21-26

Unemployment Insurance: Economic Lessons from the Last Two Recessions

Unemployment insurance seems to help smooth consumer spending after a job loss, but there's disagreement on how much it discourages people from finding new jobs.

Marios Karabarbounis

Economic Quarterly, Fourth Quarter 2020

A Life-Cycle Model with Individual Volatility Dynamics

Marios Karabarbounis

Special Reports, November 12, 2020

The Employment Recovery of Small and Large Employers

Policymakers, national pundits, and researchers often point to the importance of small firms in job creation. Did small firms play a special role in the recovery of aggregate employment during the COVID-19 pandemic?

Marios Karabarbounis, Matthew Murphy and Nicholas Trachter

Special Reports, September 4, 2020

The Effect of Lockdown Measures on Unemployment

Do the timing and length of lockdowns explain state-level differences in unemployment?

Marios Karabarbounis, Reiko Laski, James Lee and Nicholas Trachter

Special Reports, July 9, 2020

Does Social Distancing Explain Variation in COVID-19 Infection Rates? A Cross-Regional Analysis

Part 4: Financial Distress and the Second Wave of COVID-19 Infections

Marios Karabarbounis, Matthew Murphy and Nicholas Trachter

Special Reports, May 26, 2020

The Effects of Expiring Stay-at-Home Orders and the Shape of the Recovery

Marios Karabarbounis and Nicholas Trachter

Special Reports, May 15, 2020

Some Observations about Social Distancing across Space and Time

Marios Karabarbounis and Nicholas Trachter

Special Reports, April 17, 2020

How COVID-19 is Affecting Main Street

Marios Karabarbounis and Nicholas Trachter

Economic Quarterly, First Quarter 2020

Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries

Yongsung Chang, Andreas Hornstein and Marios Karabarbounis

Economic Quarterly, Fourth Quarter 2018

What Can We Learn from Online Wage Postings? Evidence from Glassdoor

Marios Karabarbounis and Santiago Pinto

Economic Brief, May 2018, No. 18-05

Estimating Aggregate Fiscal Multipliers from Local Data

Bill Dupor, Marios Karabarbounis, Marianna Kudlyak, M. Saif Mehkari and David A. Price

Economic Quarterly, Fourth Quarter 2015

Does Bank Lending Matter for Large Firms' Investment?

Marios Karabarbounis

Economic Quarterly, First Quarter 2014

A Business Cycle Analysis of Debt and Equity Financing

Marios Karabarbounis, Patrick Macnamara and Roisin McCord
Working Papers

March 2020, No. 20-01R

Income Volatility and Portfolio Choices (Revised September 2020)

Yongsung Chang, Jay H. Hong, Marios Karabarbounis, Yicheng Wang and Tao Zhang

January 2019, No. 19-01R

Misallocation and Financial Frictions: The Role of Long-Term Financing* (Revised August 2020)

Marios Karabarbounis and Patrick Macnamara

July 2018, No. 18-13

Labor-Market Wedge under Engel Curve Utility: Cyclical Substitution between Necessities and Luxuries

Yongsung Chang, Andreas Hornstein and Marios Karabarbounis

February 2018, No. 18-04

Regional Consumption Responses and the Aggregate Fiscal Multiplier (Revised April 2021)

Bill Dupor, Marios Karabarbounis, Marianna Kudlyak and M. Saif Mehkari

June 2014, No. 14-13R

Labor-Market Uncertainty and Portfolio Choice Puzzles (Revised July 2017)

Yongsung Chang, Jay H. Hong and Marios Karabarbounis

September 2013, No. 13-13R

A Road Map for Efficiently Taxing Heterogeneous Agents (Revised June 2015)

Marios Karabarbounis

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Marios Karabarbounis (804) 697-8923

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Economists

Marios Karabarbounis

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