Economists

John Bailey Jones

John Bailey Jones is vice president of microeconomic analysis in the Research Department. Jones joined the Federal Reserve Bank of Richmond as a senior economist and research advisor in September 2016 after serving as a consultant to the Bank and the Federal Reserve Bank of Chicago. Before joining the Richmond Fed, he taught economics at the University of Albany, SUNY. Jones earned his doctorate from the University of Wisconsin-Madison in 1998.

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

Working Papers

January 2023, No. 23-02

Marriage and Work among Prime-Age Men

Adam Blandin, John Bailey Jones and Fang Yang

December 2022, No. 22-12

Savings After Retirement

Eric French, John Bailey Jones and Rory McGee

July 2021, No. 21-11

Incarceration, Earnings, and Race

Grey Gordon, John Bailey Jones, Urvi Neelakantan and Kartik B. Athreya

May 2021, No. 21-09

Why Do Couples and Singles Save During Retirement?

Mariacristina De Nardi, Eric French, John Bailey Jones and Rory McGee

July 2020, No. 20-09

Social Security Reform with Heterogeneous Mortality

John Bailey Jones and Yue Li

April 2020, No. 20-02

Loan Delinquency Projections for COVID-19

Grey Gordon and John Bailey Jones

December 2018, No. 18-18

End-of-Life Medical Expenses

Eric French, John Bailey Jones, Elaine Kelly and Jeremy McCauley

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

Eric French and John Bailey Jones

January 2017, No. 17-02R

The Effects of Collecting Income Taxes on Social Security Benefits (Revised September 2017)

John Bailey Jones and Yue Li
Bank Publications

Economic Brief, December 2022, No. 22-49

How Big Is the Inheritance Gap Between Black and White Families?

This gap seemingly exists even after controlling for education.

John Bailey Jones and Urvi Neelakantan

Economic Brief, May 2022, No. 22-17

A More Comprehensive Measure of the Black-White Wealth Gap

Commonly used summary statistics for measuring the Black-White wealth gap have significant limitations. Here's a measure to help address these limitations.

John Bailey Jones and Urvi Neelakantan

Economic Brief, September 2021, No. 21-32

Why Do People Save During Retirement?

Prepping for medical expenses is more important for singles, while leaving bequests is more important for couples.

Mariacristina De Nardi, Eric French, John Bailey Jones, Rory McGee and Tim Sablik

Economic Brief, July 2021, No. 21-23

Eldernomics: A Richmond Fed Conference

A recent Richmond Fed conference covered housing, Social Security claiming, savings and labor supply related to older households.

John Bailey Jones and David A. Price

Economic Quarterly, Fourth Quarter 2020

Medical Spending, Bequests, and Asset Dynamics around the Time of Death

John Bailey Jones, Mariacristina De Nardi, Eric French, Rory McGee and Rachel Rodgers

Economic Brief, November 2020, No. 20-12

Lifespan Inequality and Social Security Reform

John Bailey Jones and John Mullin

Economic Brief, April 2020, No. 20-05

Loan-Delinquency Projections for COVID-19

Grey Gordon, John Bailey Jones and Jessie Romero

Economic Brief, May 2019, No. 19-05

Lifetime Medical Spending of Retirees

John Bailey Jones and Aaron Steelman

Economic Quarterly, Third Quarter 2018

The Lifetime Medical Spending of Retirees

John Bailey Jones, Mariacristina De Nardi, Eric French, Rory McGee and Justin Kirschner

Economic Brief, November 2017, No. 17-11

Can We Tax Social Security Benefits More Efficiently?

Helen Fessenden and John Bailey Jones

Economic Brief, May 2017, No. 17-05

Medical Spending in Old Age

John Bailey Jones and Jessie Romero
Academic Publications

Social Security Reform With Heterogeneous Mortality

Review of Economic Dynamics, forthcoming

John Bailey Jones and Yue Li

Previous Version: Working Paper, July 2020, No. 20-09

An Estimated Structural Model of Entrepreneurial Behavior

American Economic Review, Vol. 110, September 2020: 2859-2898

John Bailey Jones and Sangeeta Pratap

Previous Version: Working Paper, May 2017, No. 17-07

The Wage Penalty for Married Women of Career Interruptions: Evidence from the 1970s and the 1990s

Oxford Bulletin of Economics and Statistics, Vol. 82, August 2020: 783-807

John Bailey Jones, Minhee Kim and Byoung G. Park

The Effects of Collecting Income Taxes on Social Security Benefits

Journal of Public Economics, Vol. 159, March 2018: 128–145

John Bailey Jones and Yue Li

The Accuracy of Economic Measurement in the Health and Retirement Study

Forum for Health Economics and Policy, Vol. 20, December 2017: 1-16

Eric French, John Bailey Jones and Jeremy McCauley

Transition Accounting for India in a Multi-sector Dynamic General Equilibrium Model

Economic Change and Restructuring, Vol. 50, November 2017: 299-339

John Bailey Jones and Sohini Sahu

Health, Health Insurance and Retirement: A Survey

Annual Review of Economics, Vol. 9, August 2017: 383-409

Eric French and John Bailey Jones

Previous Version: Working Paper, February 2017, No. 17-03

End-Of-Life Medical Spending In Last Twelve Months Of Life Is Lower Than Previously Reported

Health Affairs, Vol. 36, July 2017: 1211-1217

John Bailey Jones and et al.

Medicaid Insurance in Old Age

American Economic Review, Vol. 106, November 2016: 3480-3520

Mariacristina De Nardi, Eric French and John Bailey Jones

Savings After Retirement: A Survey

Annual Review of Economics, Vol. 8, October 2016: 177-204

Mariacristina De Nardi, Eric French and John Bailey Jones

Medical Spending of the U.S. Elderly

Fiscal Studies, Vol. 37, September-December 2016: 717-747

Mariacristina De Nardi, Eric French, John Bailey Jones and Jeremy McCauley

Skill-Biased Technical Change and the Cost of Higher Education

Journal of Labor Economics, Vol. 34, July 2016: 621-662

John Bailey Jones and Fang Yang

Public Pensions and Labor Supply over the Life Cycle

Interntational Tax and Public Finance, Vol. 19, April 2012: 268-287

Eric French and John Bailey Jones

The Effects of Health Insurance and Self-Insurance on Retirement Behavior

Econometrica, Vol. 79, May 2011: 693-732

Eric French and John Bailey Jones

Why do the Elderly Save? The Role of Medical Expenses

Journal of Political Economy, Vol. 118, February 2010: 39-75

Mariacristina De Nardi, Eric French and John Bailey Jones

Life Expectancy and Old Age Savings

American Economic Review: Papers and Proceedings, Vol. 99, May 2009: 110-115

Mariacristina De Nardi, Eric French and John Bailey Jones

Financial Liberalization and Banking Crises in Emerging Economies

Journal of International Economics, Vol. 72, May 2007: 202-221

Betty C. Daniel and John Bailey Jones

Optimal Investment with Lumpy Costs

Journal of Economic Dynamics and Control, Vol. 29, July 2005: 1211-1236

Duc T. Le and John Bailey Jones

On the Distribution and Dynamics of Health Care Costs

Journal of Applied Econometrics, Vol. 19, 2004: 705-721

Eric French and John Bailey Jones

The Dynamic Effects of Firm-Level Borrowing Constraints

Journal of Money, Credit and Banking, Vol. 35, October 2003: 743-762

John Bailey Jones

Finite Mixture Distributions, Sequential Likelihood and the EM Algorithm

Econometrica, Vol. 71, May 2003: 933-946

Peter Arcidiacono and John Bailey Jones

Has Fiscal Policy Helped Stabilize the Postwar U.S. Economy?

Journal of Monetary Economics, Vol. 49, May 2002: 709-746

John Bailey Jones

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John Bailey Jones

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