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Serdar Ozkan

Federal Reserve Banks - Federal Reserve Bank of St. Louis

411 Locust St

Saint Louis, MO 63011

United States

University of Toronto

105 St George Street

Toronto, Ontario M5S 3G8

Canada

  • Federal Reserve Banks - Federal Reserve Bank of St. Louis

  • University of Toronto

SCHOLARLY PAPERS

14

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5,413

TOTAL CITATIONS

175

Scholarly Papers (14)

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1.

Why Are the Wealthiest So Wealthy? New Longitudinal Empirical Evidence and Implications for Theories of Wealth Inequality 

Downloads 3,353 ( 9,040)

Why Are the Wealthiest So Wealthy? New Longitudinal Empirical Evidence and Implications for Theories of Wealth Inequality 

Number of pages: 70 Posted: 23 Feb 2023 Last Revised: 23 Dec 2025
Joachim Hubmer, Elin Halvorsen, Sergio Salgado and Serdar Ozkan
University of Pennsylvania - Department of Economics, Statistics Norway - Research Department, The Wharton School, University of Pennsylvania and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 3,011 (10,454)

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Wealth inequality, lifecycle wealth dynamics, rate of return heterogeneity, bequests, saving rate heterogeneity JEL codes: D14, D15, E21

Why are the Wealthiest so Wealthy? A Longitudinal Empirical Investigation

CESifo Working Paper No. 10324
Number of pages: 114 Posted: 21 Mar 2023
Serdar Ozkan, Joachim Hubmer, Sergio Salgado and Elin Halvorsen
Federal Reserve Banks - Federal Reserve Bank of St. Louis, University of Pennsylvania - Department of Economics, The Wharton School, University of Pennsylvania and Statistics Norway - Research Department
Downloads 342 (228,163)

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wealth inequality, lifecycle wealth dynamics, rate of return heterogeneity, bequests, saving rate heterogeneity

2.

Anatomy of Lifetime Earnings Inequality: Heterogeneity in Job Ladder Risk vs. Human Capital

Downloads 445 (162,082)
Citation 27

Anatomy of Lifetime Earnings Inequality: Heterogeneity in Job Ladder Risk vs. Human Capital

FRB St. Louis Working Paper No. 2022-2
Number of pages: 74 Posted: 12 Jan 2022 Last Revised: 17 Nov 2022
Fatih Karahan, Serdar Ozkan and Jae Song
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of St. Louis and U.S. Social Security Administration
Downloads 282 (266,893)
Citation 21

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Job ladder, human capital, search frictions, life-cycle earnings risk, lifetime income inequality, Pareto tails, heterogeneity

Anatomy of Lifetime Earnings Inequality: Heterogeneity in Job Ladder Risk vs. Human Capital

FRB of New York Staff Report No. 908, December 2019
Number of pages: 71 Posted: 02 Jan 2020
Fatih Karahan, Serdar Ozkan and Jae Song
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Government of the United States of America - Social Security Administration
Downloads 163 (461,307)
Citation 6

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job ladder, inequality, Pareto tails

3.

Scalable versus Productive Technologies

The Wharton School Research Paper
Number of pages: 75 Posted: 26 Aug 2024 Last Revised: 06 May 2025
Joachim Hubmer, Mons Chan, Serdar Ozkan, Sergio Salgado and Guangbin Hong
University of Pennsylvania - Department of Economics, Queen's University, Federal Reserve Banks - Federal Reserve Bank of St. Louis, The Wharton School, University of Pennsylvania and Michigan State University - Department of Economics
Downloads 319 (250,461)

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Production function heterogeneity, returns to scale, misallocation

4.

What Do Data on Millions of U.S. Workers Reveal About Life-Cycle Earnings Dynamics?

Downloads 287 (273,212)
Citation 35

What Do Data on Millions of U.S. Workers Reveal About Life-Cycle Earnings Dynamics?

FRB of New York Staff Report No. 710
Number of pages: 89 Posted: 11 Feb 2015 Last Revised: 03 Oct 2019
Fatih Guvenen, Fatih Karahan, Serdar Ozkan and Jae Song
University of Minnesota - Department of Economics, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of St. Louis and U.S. Social Security Administration
Downloads 188 (418,789)
Citation 11

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earnings dynamics, higher-order earnings risk, kurtosis, skewness, non-Gaussian shocks, normal mixture

What Do Data on Millions of U.S. Workers Reveal About Life-Cycle Earnings Risk?

FRB of New York Staff Report No. 710
Number of pages: 72 Posted: 18 Aug 2015
Fatih Guvenen, Fatih Karahan, Serdar Ozkan and Jae Song
University of Minnesota - Department of Economics, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of St. Louis and U.S. Social Security Administration
Downloads 61 (976,517)
Citation 15

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earnings dynamics, life-cycle earnings risk, nonparametric estimation, kurtosis, skewness, non-Gaussian shocks, normal mixture

What Do Data on Millions of U.S. Workers Reveal about Life-Cycle Earnings Risk?

NBER Working Paper No. w20913
Number of pages: 71 Posted: 02 Feb 2015 Last Revised: 22 Feb 2023
Fatih Guvenen, Fatih Karahan, Jae Song, Serdar Ozkan and Fatih Karahan
University of Minnesota - Department of Economics, Amazon.com, Inc., U.S. Social Security Administration, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Bank of New York
Downloads 38 (1,238,337)
Citation 9

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5.

Dissecting Idiosyncratic Earnings Risk

Downloads 224 (343,660)
Citation 3

Dissecting Idiosyncratic Earnings Risk

FRB St. Louis Working Paper No. 2022-24
Number of pages: 86 Posted: 22 Sep 2022
Elin Halvorsen, Hans Holter, Serdar Ozkan and Kjetil Storesletten
Statistics Norway - Research Department, University of Delaware, Federal Reserve Banks - Federal Reserve Bank of St. Louis and University of Minnesota - Minneapolis
Downloads 142 (521,756)

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earnings dynamics, income shocks, insurance, wages, hours, higher-order earnings risk, skewness, kurtosis, machine learning

Dissecting Idiosyncratic Earnings Risk

Number of pages: 87 Posted: 22 Sep 2020 Last Revised: 04 Apr 2023
Elin Halvorsen, Hans Aasnes Holter, Serdar Ozkan and Kjetil Storesletten
Statistics Norway - Research Department, University of Delaware - Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and University of Oslo - Department of Economics
Downloads 78 (833,655)
Citation 2

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Earnings dynamics, Income shocks, Insurance, Wages, Hours, Higher-order earnings risk, Skewness, Kurtosis, Machine learning

Dissecting Idiosyncratic Earnings Risk

CEPR Discussion Paper No. DP15395
Number of pages: 72 Posted: 03 Nov 2020
Elin Halvorsen, Hans Holter, Serdar Ozkan and Kjetil Storesletten
Statistics Norway - Research Department, University of Oslo, Federal Reserve Banks - Federal Reserve Bank of St. Louis and University of Oslo - Department of Economics
Downloads 4 (1,646,315)
Citation 1
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Earnings Dynamics, Higher-order earnings risk, Hours, Income Shocks, Insurance, Kurtosis, Skewness, wages

6.

Earnings Dynamics and Its Intergenerational Transmission: Evidence from Norway

Downloads 154 (482,968)
Citation 8

Earnings Dynamics and Its Intergenerational Transmission: Evidence from Norway

Number of pages: 115 Posted: 22 Mar 2021 Last Revised: 17 Dec 2021
Elin Halvorsen, Serdar Ozkan and Sergio Salgado
Statistics Norway - Research Department, Federal Reserve Banks - Federal Reserve Bank of St. Louis and The Wharton School, University of Pennsylvania
Downloads 93 (732,131)

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Earnings dynamics, income inequality, Pareto tails, heterogeneity, intergenerational mobility

Earnings Dynamics and its Intergenerational Transmission: Evidence from Norway

FRB St. Louis Working Paper No. 2021-15
Number of pages: 100 Posted: 22 Dec 2021 Last Revised: 22 Sep 2022
Elin Halvorsen, Serdar Ozkan and Sergio Salgado
Statistics Norway - Research Department, Federal Reserve Banks - Federal Reserve Bank of St. Louis and The Wharton School, University of Pennsylvania
Downloads 61 (966,800)
Citation 8

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earnings dynamics, top income inequality, heterogeneity, intergenerational mobility

7.

On the Persistence of Income Shocks Over the Life Cycle: Evidence, Theory, and Implications Second Version

PIER Working Paper No. 11-030
Number of pages: 65 Posted: 21 Sep 2011
Fatih Karahan and Serdar Ozkan
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 134 (547,695)
Citation 23

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Idiosyncratic income risk, Incomplete markets models, Earnings persistence, Consumption insurance

8.

On the Persistence of Income Shocks Over the Life Cycle: Evidence and Implications

PIER Working Paper No. 09-045
Number of pages: 45 Posted: 14 Dec 2009 Last Revised: 24 Dec 2009
Fatih Karahan and Serdar Ozkan
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 110 (645,052)
Citation 1

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Idiosyncratic income risk, Incomplete markets models, Earnings persistence, Consumption insurance

9.

The Nature of Countercyclical Income Risk

Downloads 98 (725,554)
Citation 53

The Nature of Countercyclical Income Risk

FEDS Working Paper No. 2013-25
Number of pages: 63 Posted: 11 May 2013
Fatih Guvenen, Serdar Ozkan and Jae Song
University of Minnesota - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and U.S. Social Security Administration
Downloads 58 (1,038,620)

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Countercyclical income risk, idiosyncratic labor income

The Nature of Countercyclical Income Risk

NBER Working Paper No. w18035
Number of pages: 59 Posted: 04 May 2012 Last Revised: 13 Apr 2023
Fatih Guvenen, Serdar Ozkan and Jae Song
University of Minnesota - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and U.S. Social Security Administration
Downloads 40 (1,224,220)
Citation 53

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10.

On the Persistence of Income Shocks Over the Life Cycle: Evidence and Implications, Second Version

PIER Working Paper No. 10-012
Number of pages: 55 Posted: 07 Apr 2010 Last Revised: 09 Apr 2010
Fatih Karahan and Serdar Ozkan
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 93 (730,864)
Citation 1

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Idiosyncratic Income Risk, Incomplete Markets Models, Earnings Persistence, Consumption Insurance

11.

Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis

Downloads 92 (742,061)
Citation 21

Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis

FEDS Working Paper No. 2013-20
Number of pages: 57 Posted: 30 May 2017
Fatih Guvenen, Burhanettin Kuruscu and Serdar Ozkan
University of Minnesota - Department of Economics, University of Toronto - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 47 (1,119,531)
Citation 7

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Taxation of Human Capital and Wage Inequality: A Cross-Country Analysis

NBER Working Paper No. w15526
Number of pages: 56 Posted: 24 Nov 2009 Last Revised: 05 Jun 2022
Fatih Guvenen, Burhanettin Kuruscu and Serdar Ozkan
University of Minnesota - Department of Economics, University of Toronto - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 45 (1,170,161)
Citation 14

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12.

Consumption Dynamics and Welfare Under Non-Gaussian Earnings Risk

Downloads 65 (933,592)
Citation 3

Consumption Dynamics and Welfare Under Non-Gaussian Earnings Risk

CESifo Working Paper No. 11135
Number of pages: 55 Posted: 10 Jun 2024
Fatih Guvenen, Serdar Ozkan and Rocio Madera
University of Minnesota - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Southern Methodist University (SMU) - Department of Economics
Downloads 41 (1,224,220)
Citation 3

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idiosyncratic earnings risk, higher-order earnings risk, non-Gaussian shocks, incomplete markets models, consumption insurance

Consumption Dynamics and Welfare Under Non-Gaussian Earnings Risk

NBER Working Paper No. w32298
Number of pages: 54 Posted: 08 Apr 2024
Fatih Guvenen, Serdar Ozkan and Rocio Madera
University of Minnesota - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Southern Methodist University (SMU) - Department of Economics
Downloads 24 (1,445,011)

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13.

Mortgage Market Structure and the Transmission of Monetary Policy During the Great Inflation

IZA Discussion Paper No. 17971
Number of pages: 64 Posted: 30 Jun 2025
Aaron Hedlund, Kieran Larkin, Kurt Mitman and Serdar Ozkan
Purdue University, University College London, Stockholm University and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 39 (1,209,354)

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heterogeneous agents, monetary policy, mortgages, housing, inflation

14.

How Does Earnings Risk for Americans Change during Recessions?

FEDS Notes No. 2014-01-31-2 https://doi.org/10.17016/2380-7172.0008
Posted: 16 Dec 2014
Serdar Ozkan
Federal Reserve Banks - Federal Reserve Bank of St. Louis

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