Christopher Tonetti

Christopher Tonetti
Associate Professor, Economics
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Research Statement

Christopher Tonetti is a macroeconomist with research in the areas of growth and household finance. His growth research focuses on how firms' investments in innovation and technology adoption contribute to aggregate growth. Recently he has studied how changes in trade policy can alter the competitive environment and affect growth rates by altering the technology adoption patterns of firms. His household finance research focuses on the dynamics of household wealth, income, and consumption over time and over the lifecycle. His recent work studies the savings, consumption, and labor supply patterns of the elderly and their desire for annuities, for insurance against late in life health risks, and to leave bequests.

Research Interests

  • Macroeconomics
  • Household Finance
  • International Economics


Christopher Tonetti is an Associate Professor at the Stanford Graduate School of Business, where he teaches Growth and Stabilization in the Global Economy in the MBA program. His research is in the area of macroeconomics, with a focus on growth and household finance. Christopher received a BA in economics-mathematics from Columbia University, and a PhD in economics from New York University.

Academic Degrees

  • PhD, Economics, New York University, 2013
  • BA, Economics-Mathematics, Columbia University, 2005

Awards and Honors

  • Fletcher Jones Faculty Scholar, 2017-2018
  • GSB Trust Faculty Fellow, 2015-2016


Journal Articles

Taisuke Nakata, Christopher Tonetti. Journal of Applied Economics. 2015, Vol. 18, Issue 1, Pages 122-148.
Jesse Perla, Christopher Tonetti. Journal of Political Economy. 2014, Vol. 122, Issue 1.
Jess Benhabib, Jesse Perla, Christopher Tonetti. Journal of Economic Growth. October 18, 2013, Vol. 19, Issue 1, Pages 1-35.
Leonardo Bartolini, Spence Hilton, Suresh Sundaresan, Christopher Tonetti. Review of Financial Studies. 2011, Vol. 24, Issue 1, Pages 248-278.

Working Papers

Older Americans Would Work Longer If Jobs Were Flexible | PDF
John Ameriks, Joseph Briggs, Andrew Caplin, Minjoon Lee, Matthew D. Shapiro, Christopher Tonetti, October 22018
Nonrivalry and the Economics of Data | PDF
Charles I. Jones, Christopher Tonetti, July 312018
Late-in-Life Risks and the Under-Insurance Puzzle
John Ameriks, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, Christopher Tonetti, September 2016
Equilibrium Technology Diffusion, Trade, and Growth | PDF
Jesse Perla, Christopher Tonetti, Michael E. Waugh, December 2015
Long-Term Care Utility and Late in Life Saving
John Ameriks, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, Christopher Tonetti, January 2015


Degree Courses


This course gives students the background they need to understand the broad movements in the global economy. Key topics include long-run economic growth, technological change, wage inequality, international trade, interest rates, inflation,...

The goal of this course is to introduce students to frontier research in quantitative macroeconomics and finance with heterogeneous agents. We study models with imperfect financial markets and/or search frictions. We emphasize theory and...

Insights by Stanford Business

November 19, 2018
New research shows 40% of American retirees would prefer to be working.
September 19, 2018
In an ideal world, consumers would control the rights to their data but would also be able to sell it broadly.
November 15, 2016
Long-term care can be ruinously expensive, and the odds of needing it are high. So why don’t seniors buy insurance to cover it?
December 15, 2014
Learn more about risk and other related topics.
July 23, 2014
Technical innovation makes more sense for some countries and companies than others.