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Kjetil Storesletten
December 19, 2014
Department of Economics
University of Oslo
P.O. Box 1095 Blindern
N-0317 Oslo, Norway
e-mail:kjetil.storesletten@econ.uio.no
homepage: http://folk.uio.no/kjstore
Phone: +47-228-44-009
Personal
Date of birth: February 1, 1967
Nationality: Norwegian
Married, two children
Current Positions
• Professor at Department of Economics, University of Oslo (since 2012)
• Member of the Norwegian Executive Monetary Policy Committee (since January 2014)
• Chairman of the Review of Economic Studies (board member since 2003).
• Member of the Thøgersen Commission, a Norwegian government commission reevaluating the fiscal
rule for the take-out from the oil fund (since November 2014).
• Visiting Professor at University of Zurich (part time)
Previous Positions
• Monetary Advisor at the Federal Reserve Bank of Minneapolis, 2009-2012.
• Professor at Department of Economics, University of Oslo 2003-2009.
• Associate professor (with tenure after 2001) at the Institute for International Economic Studies (Stockholm University), 1995-2003.
• Managing Editor of the Review of Economic Studies, 2006-2010.
• Editor of the Scandinavian Journal of Economics, 2012-2014.
• Op-ed columnist in Aftenposten (2005-2012) and Dagens Næringsliv (2012-2013)
Honors
Fellow of Econometric Society, member of Agder Academy of Sciences and Letters, member of the Academia
Europaea, and Research Fellow at CEPR. Received the 2013 Sun Yefang prize awarded by the Chinese
Academy of Social Sciences (with Song and Zilibotti). Holds an Advanced Grant from the European Research
Council, 2013-2017.
Education
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• Ph.D. (Economics), GSIA/Tepper School of Business, Carnegie Mellon University, 1991-1995.
• Siviløkonom, Norwegian School of Economics and Business Administration, Norway, 1987-1991.
• Mathematics studies (one year), Agder University College, Norway, 1986-1987.
Articles in refereed journals
1. Song, Z., K. Storesletten, Y Wang, and F. Zilibotti, 2014. “Sharing High Growth Across Generations: Pensions and Demographic Transition in China.” American Economic Journal: Macroeconomics
(forthcoming).
2. Heathcote, J., K. Storesletten, and G. Violante, 2014. “Consumption and Labor Supply with Partial
Insurance: An Analytical Framework.”American Economic Review, vol. 104(7), pp. 2075-2126.
3. Song, Z., K. Storesletten, and F. Zilibotti, 2014. “Growing (with Capital Controls) Like China.” IMF
Economic Review, vol. 62(3), pp. 327-370.
4. Song, Z., K. Storesletten, and F. Zilibotti, 2012. “Rotten Parents and Disciplined Children: A PoliticoEconomic Theory of Public Expenditure and Debt,” Econometrica, vol. 80 (6), pp. 2785-2804.
5. Song, Z., K. Storesletten, and F. Zilibotti, 2011. “Growing Like China”, American Economic Review,
vol. 101(1), pp. 196-233.
6. Heathcote, J., K. Storesletten, and G. Violante, 2010. “The Macroeconomic Implications of Rising
Wage Inequality in the United States”, Journal of Political Economy, vol. 118 (4), pp. 681-722.
7. Hassler, J., P. Krusell, K. Storesletten, and F. Zilibotti, 2008. “On the Optimal Timing of Capital
Taxation”, Journal of Monetary Economics, 2008, vol. 55 (4), pp. 692-709.
8. Heathcote, J., K. Storesletten, and G. Violante, 2008. “Insurance versus Opportunities: The Welfare
Implications of Rising Wage Dispersion”, Journal of Monetary Economics, vol. 55 (3), pp.501-525.
9. Backus, D., K. Storesletten, and E. Henriksen, 2008. “Taxes and the Global Allocation of Capital”,
Journal of Monetary Economics, vol. 55 (1), pp.48-61.
10. Storesletten, K., C. Telmer, and A. Yaron, 2007. “Asset Pricing with Idiosyncratic Risk and Overlapping Generations,” Review of Economic Dynamics, vol. 10 (4), pp. 519-548.
11. Hassler, J., K. Storesletten, and F. Zilibotti, 2007. “Democratic Public Good Provision”, Journal of
Economic Theory, vol. 133 (1), pp. 127-151.
12. Hassler, J., P. Krusell, K. Storesletten, and F. Zilibotti, 2005. “The Dynamics of Government”, Journal
of Monetary Economics, vol. 52 (7), pp. 1331-1358.
13. Hassler, J., J.V. Rodr´ıguez Mora, K. Storesletten, and F. Zilibotti, 2005. “A Positive Theory of
Geographical Mobility and Social Insurance”, International Economic Review, vol. 46 (1), pp. 263303.
14. Storesletten, K., C. Telmer, and A. Yaron, 2004. “Cyclical Dynamics in Idiosyncratic Labor-Market
Risk,” Journal of Political Economy, vol. 112 (3), pp. 695-717.
15. Storesletten, K., C. Telmer, and A. Yaron, 2004. “Consumption and Risk Sharing over the Life Cycle,”
Journal of Monetary Economics, vol. 51 (3), pp. 609-633.
16. Hassler, J., J.V. Rodr´ıguez Mora, K. Storesletten, and F. Zilibotti, 2003. “The Survival of the Welfare
State,” American Economic Review, vol. 93 (1), pp. 87-112.
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17. Storesletten, K., 2003. “Fiscal Implications of Immigration - a Net Present Value Calculation,” Scandinavian Journal of Economics, vol. 105 (3), pp. 487-506.
18. Storesletten, K., C. Telmer, and A. Yaron, 2001. “The Welfare Costs of Business Cycles Revisited:
Finite Lives and Cyclical Variation in Idiosyncratic Risk”, European Economic Review, vol. 45, pp.
1311-1339.
19. Storesletten, K., 2000. “Sustaining Fiscal Policy Through Immigration,” Journal of Political Economy,
vol. 108 (2), pp. 300-324.
20. Storesletten, K., and F. Zilibotti, 2001. “Education, Educational Policies, and Growth,” Swedish
Economic Policy Review, vol. 7, pp. 39-70.
21. Storesletten, K., C. Telmer, and A. Yaron, 1999. “The Risk Sharing Implications of Alternative Social
Security Arrangements,” Carnegie-Rochester Conference Series on Public Policy, vol. 50, pp. 213-260.
Articles in conference volumes and books
1. Storesletten, K, and F Zilibotti, 2014. “China’s Great Convergence and Beyond,” Annual Review of
Economics, vol. 6: pp. 333–362.
2. Song, Z, K Storesletten, Y Wang, and F Zilibotti, 2014. “The Urban Pension System.” In The Oxford
Companion to the Economics of China pp 243-247, edited by Shenggen Fan, Ravi Kanbur, Shang-Jin
Wei, and Xiaobo Zhang. Oxford University Press: Oxford.
3. Heathcote, J., K. Storesletten, and G. Violante, 2013. “From Wages to Welfare: Decomposing Gains
and Losses from Rising Inequality”, Advances in Economics and Econometrics: Tenth World Congress
Volume 2 (Econometric Society Monographs) edited by Daron Acemoglu, Manuel Arellano, and Professor Eddie Dekel, Cambridge University Press, pp. 235-280.
4. Heathcote, J., K. Storesletten, and G. Violante, 2009. “Quantitative Macroeconomics with Heterogeneous Households”, Annual Review of Economics, vol. 1, pp 319-354.
5. Storesletten, K., C. Telmer, and A. Yaron, 2008. “Asset Prices and Intergenerational Risk Sharing: The
Role of Idiosyncratic Earnings Shocks”, Handbooks in Finance; Handbook of the Equity Risk Premium
ed. by Rajnish Mehra, Elsevier, Amsterdam, pp. 565-590.
6. Heathcote, J., K. Storesletten, and G. Violante, 2005. “Two Views of Inequality over the Life-Cycle”,
Journal of the European Economic Association (Papers and Proceedings), vol. 3 (2-3), pp. 543-52.
7. Hassler, J., K. Storesletten, and F. Zilibotti, 2003. “Dynamic Political Choice in Macroeconomics,”
Journal of the European Economic Association (Papers and Proceedings), vol. 1 (2-3), pp. 543-52
(with J. Hassler and F. Zilibotti)
8. Storesletten, K., C. Telmer, and A. Yaron, 2001. “How Important Are Idiosyncratic Shocks? Evidence
from Labor Supply”, American Economic Review (Papers and Proceedings), vol. 91, pp. 413-417.
9. Hassler, J., J.V. Rodr´ıguez Mora, K. Storesletten, and F. Zilibotti, 2002. “Unemployment, Specialization, and Collective Preferences for Social Insurance,” in The New Economics of Rising Inequalities,
pp 331-50, edited by Daniel Cohen, Thomas Piketty and Gilles Saint-Paul, Oxford University Press.
Other articles and comments
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10. Storesletten, K., 2007. “Comments on: “Hong and Rıos-Rull’s ‘Social security, life insurance and
annuities for families”, Journal of Monetary Economics, vol. 54 (1).
11. Storesletten, K., 2008. “Comments on Heaton and Lucas: Can heterogeneity, undiversified risk, and
trading frictions solve the equity premium puzzle?”, Handbooks in Finance; Handbook of the Equity
Risk Premium edited by Rajnish Mehra, Elsevier, Amsterdam, pp. 555-564.
12. Storesletten, K., 2004. “Comments on Perri and Krueger: Trends in Consumption versus Income
Inequality”, NBER Macroeconomics Annual 2003. Mark Gertler and Kenneth Rogoff, editors. MIT
Press, pp. 132-137.
13. Storesletten, K., 1999. “Education for Growth in Sweden and the World: A Comment”, Swedish
Economic Policy Review, vol. 6 (2), pp. 341-347.
14. Storesletten, K., 2000. “Comments on Dustmann: Temporary Migration and Economic Assimilation”,
Swedish Economic Policy Review, vol. 7 (2), pp. 245-247.
15. Storesletten, K., and Fabrizio Zilibotti, 2000. “Utbildning, utbildningspolitik och tillv¨axt”, in Tillv¨
axt
och ekonomisk politik, L. Calmfors and M. Persson (eds.), Ekonomiska R˚
adet, Studentliteratur, Lund.
16. Storesletten, K., 1996. “Skattem¨
assiga f¨oljder av invandringen till Sverige,” Ekonomisk Debatt, vol. 24
(4), pp. 253-265.
17. Storesletten, K., 1998. “Nettoeffekten av invandringen p˚
a offentliga finanser - en nuv¨ardeber¨akning
f¨
or Sverige,” in Bager, T., and Shahamak, R. (editors): Invandringens økonomiske konsekvenser i
Skandinavien. Sydjysk Universitetsforlag, Esbjerg.
Unpublished work
• J Heathcote, K Storesletten, and G.L. Violante. (previously titled “Redistributive Taxation in a Partial
Insurance Economy”)
• M¨
uller, A, K Storesletten, and F Zilibotti. “The Political Color of Fiscal Responsibility.” with and
Zilibotti; and
• Song, Z, K Storesletten, and F Zilibotti, “Private Affluence and Public Poverty: A Theory of Intergenerational Predation through Debt.”
• Bai, Y, J-V R´ıos-Rull, and K Storesletten. “Demand Shocks as Productivity Shocks.”
Teaching and advising:
• Have taught graduate courses in economics at University of Oslo, University of Minnesota, Stockholm
University, UCLA, University of Aarhus, University of Porto, and Fudan University.
• Graduate student advisees:
1. University of Stockholm: Martin Flod´en (1999), Matthew Lindqvist (2002), Conny Olofsson
(2004), Thomas Eisensee (Co-advisor, 2006), Lars Johansson (2009).
2. University of Oslo: Dag Holen (2007), Ole Christian Bech-Moen (2007), Weizhen Zhu (2009),
Øystein Børsum (2010), Sun Gang (2011), and Bo Zhao (2012).
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3. Thesis committee member for Giovanni Gallipoli (University College London, 2007), Trond Døskeland
(Norges Handeslhøyskole, 2007), Jo Thori Lind (University of Oslo, 2004), Carl Andreas Claussen
(University of Oslo, 2003), Josep Pijuan-Mas (University College London, 2002), Eva C´arceles
Poveda (Universitat Pompeu Fabra, 2001), Ferdinando Regaila (Universitat Pompeu Fabra, 1999),
and Juan A. Rojas-Blaya (European University Institute, 1999).
Awards, Grants and Fellowships
• Advanced Grant from the European Research Council, 2013-2017, “The Macroeconomics of Inequality,
Development and the Welfare State” (e 2.1 million, 2013-2017).
• Co-applicant for Center of Excellence at Department of Economics at University of Oslo, awarded by
the Norwegian Science Foundation (50 million NOK, 2007-2011).
• Awarded Outstanding Young Investigator grant (“Yngre, fremragende forskere”) by the Norwegian
Science Foundation (7 million NOK), 2005-2009.
• Carl Mannerfeldt Fund Grant, January 1996 – December 2002.
• Doctoral fellowships from, Norwegian School of Economics and Business Administration, William
Larimer Mellon Foundation, and the North European Management Institute, 1991-1995.
Other professional activities
• Organized the Review of Economic Studies Tour in Norway, May 2006.
• Organized public policy conferences January 2005 and January 2006, titled “Pensions and reform of the
welfare state” and “Is the Nordic model a role model?”, at University of Oslo, gathering 120 Norwegian
policymakers, bureaucrats and academic economists.
• Member of advisory committee to the Norwegian Ministry of Finance on public report on long-run
fiscal projections (St.prop. 8, 2004).
• Testified at Hearing on Fiscal and Monetary Policy in the Norwegian Parliament (May, 2003).
• Member of advisory committee to the Bank of England, International Finance Division, for their new
research program on the Welfare Cost of Financial Instability (March, 2003).
• Member of the Program Committee for the 2003 and 2004 European Economic Association Summer
Meetings.
• Member of the Organizing Committee for the 2002, Society for Economic Dynamics Summer Meetings.
• Served as an advisor to the Swedish Economic Council in the capacity of seminar speaker as well as
acting as discussant in conferences October 1999 and April 2000.
• Organized the session “Dynamic aspects of political economy” the American Economic Association
Winter Meeting, Atlanta 2002.
• Wrote background report for the 1996 Swedish government committee on immigration (“Sverige, framtiden och m˚
angfalden - slutbetenkande fr˚
an Invandrarpolitiska Kommit´en”, SOU 1996:55)
Longer visits
• October 2005, Yale.
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• April 2002, University of California, Los Angeles.
• March 2001, Norwegian School of Business, Norway.
• April–May 1999, University of Pennsylvania.
• August 1996, Federal Reserve Bank of Minneapolis
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