Deficits and Inflation: HANK meets FTPL [slides]
with Chen Lian and Christian Wolf
Can Deficits Finance Themselves? [slides] [online appendix]
Econometrica, forthcoming, with Chen Lian and Christian Wolf
Inattentive Economies [slides] [online appendix]
Journal of Political Economy, forthcoming, with Karthik Sastry
Deaterminacy without the Taylor Principle [slides]
Journal of Political Economy 131:8 (2023), with Chen Lian
Public Debt as Private Liquidity: Optimal Policy [paper + appendix]
Journal of Political Economy 131:11 (2023), with Fabrice Collard and Harris Dellas
Wall Street and Silicon Valley: a Delicate Interaction
Review of Economic Studies 90:3 (2023), with Guido Lorenzoni and Alessandro Pavan
Dampening General Equilibrium: Incomplete Information and Bounded Rationality
Handbook of Economic Expectations, ch. 20 (2022), with Chen Lian
Confidence and the Propagation of Demand Shocks [slides]
Review of Economic Studies 89:3 (2022), with Chen Lian
Managing Expectations: Instruments vs Targets [slides] [online appendix]
Quarterly Journal of Economics 136:4 (2021), with Karthik Sastry
Myopia and Anchoring [slides] [online appendix] [replication files]
American Economic Review 111:4 (2021), with Zhen Huo
Imperfect Macroeconomic Expectations: Evidence and Theory [slides] [replication files]
NBER Macroeconomics Annual vol. 35 (2020), with Zhen Huo and Karthik Sastry
Business Cycle Anatomy [slides] [online appendices] [replication files] [shocks]
American Economic Review 110:10 (2020), with Fabrice Collard and Harris Dellas
Learning over the Business Cycle: Policy Implications
Journal of Economic Theory 190 (2020); with Luigi Iovino and Jennifer La’O
Discussion of “Communication and the Beliefs of Economic Agents” by Candia, Coibion and Gorodnichenko
Proceedings of the 2020 Jackson Hole Symposium on Economic Policy
Optimal Monetary Policy with Informational Frictions [slides] [online appendix]
Journal of Political Economy, 128:3 (2020), with Jennifer La’O
Quantifying Confidence
Econometrica 86:5 (2018), with Fabrice Collard and Harris Dellas
Forward Guidance without Common Knowledge [slides] [online appendix]
American Economic Review 108:9 (2018), with Chen Lian
Frictional Coordination
Journal of the European Economic Association 16:3 (2018)
Incomplete Information in Macroeconomics: Accomodating Frictions in Coordination
Handbook of Macroeconomics, Vol. 2 (2016), with Chen Lian
Real Rigidity, Nominal Rigidity, and the Social Value of Information
American Economic Review 106:1 (2016), with Luigi Iovino and Jennifer La’O
Sentiments
Econometrica 81:2 (2013), with Jennifer La’O
Selection-Free Predictions in Global Games with Endogenous Information and Multiple Equilibria
Theoretical Economics 8 (2013), with Alessandro Pavan
Fairness and Redistribution: Reply
American Economic Review 103:1 (2013), with Alberto Alesina and Guido Cozzi
Financial Integration, Entrepreneurial Risk and Global Dynamics
Journal of Economic Theory 146:3 (2011), with Vasia Panousi
Volatility and Growth: Credit Constraints and the Composition of Investment
Journal of Monetary Economics 57:3 (2010), with Philippe Aghion, Abhijit Banerjee and Kalina Manova
Noisy Business Cycles
NBER Macroeconomics Annual vol. 24 (2009), with Jennifer La’O
Incomplete Information, Higher-Order Beliefs, and Price Inertia
Journal of Monetary Economics 56:S1 (2009), with Jennifer La’O
Policy with Dispersed Information
Journal of the European Economic Association 7:1 (2009), with Alessandro Pavan
Revisiting the Supply-Side Effects of Government Spending
Journal of Monetary Economics 56:2 (2009), with Vasia Panousi
Efficient Use of Information and Social Value of Information
Econometrica 75:4 (2007), with Alessandro Pavan
Supplementary Material
Dynamic Global Games of Regime Change: Learning, Multiplicity and Timing of Attacks
Econometrica 75:3 (2007), with Christian Hellwig and Alessandro Pavan
Supplementary Material
Socially Optimal Coordination: Characterization and Policy Implications
Journal of the European Economic Association 5:2-3 (2007), with Alessandro Pavan
Uninsured Idiosyncratic Investment Risk and Aggregate Saving
Review of Economic Dynamics 10:1 (2007)
Signaling in a Global Game: Coordination and Policy Traps
Journal of Political Economy 114:3 (2006), with Christian Hellwig and Alessandro Pavan
Supplementary Material
Crises and Prices: Information Aggregation, Multiplicity, and Volatility
American Economic Review 96:5 (2006), with Ivan Werning
Idiosyncratic Production Risk, Growth and the Business Cycle
Journal of Monetary Economics 53:6 (2006), with Laurent Calvet
Commitment vs Flexibility
Econometrica 74:2 (2006), Manuel Amador and Ivan Werning
Corruption, Inequality and Fairness
Journal of Monetary Economics 52:7 (2005), with Alberto Alesina
Fairness and Redistribution
American Economic Review 95:4 (2005), with Alberto Alesina
Incomplete Market Dynamics in a Neoclassical Production Economy
Journal of Mathematical Economics 41:4 (2005), with Laurent Calvet
Transparency of Information and Coordination in Economies with Investment Complementarities
American Economic Review 94:2 (2004, AEA P&P), with Alessandro Pavan
Comment on “Optimal Fiscal and Monetary Policy” by Benigno and Woodford
NBER Macroeconomics Annual 2003 (2003)
Fiscal Policy with Non-Contingent Debt and the Optimal Maturity Structure
Quarterly Journal of Economics 117:2 (2002)
The Hyperbolic Consumption Model: Calibration, Simulation, and Empirical Evaluation
Journal of Economic Perspectives 15:3 (2001), with D. Laibson, J. Tobacman, A. Repetto and S. Weinberg