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Working Papers

Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models (with Adrien Auclert, Bence Bardóczy, and Ludwig Straub)
[code and notebooks available at GitHub with major update July 2019]
Latest draft June 2019

The Intertemporal Keynesian Cross (with Adrien Auclert and Ludwig Straub)
Latest draft August 2018 (revise and resubmit, Journal of Political Economy)

Comment on ‘Accounting for Factorless Income,’ by Loukas Karabarbounis and Brent Neiman
Forthcoming in the NBER Macroeconomics Annual 2018, Volume 33

Inequality and Aggregate Demand (with Adrien Auclert)
Latest draft January 2018
[Computational Appendix]

A Note on Multipliers in NK Models with GHH Preferences (with Adrien Auclert)
Latest draft August 2017 (revise and resubmit, Review of Economics and Statistics)

What Lower Bound? Monetary Policy with Negative Interest Rates
Latest draft July 2016

Monetary Union Begets Fiscal Union (with Adrien Auclert)
Latest draft August 2014

Work in Progress

Micro Jumps, Macro Humps: Monetary Policy and Business Cycles in an Estimated HANK Model (with Adrien Auclert and Ludwig Straub)

Aggregate Capital-Labor Substitution: Preferences, Not Just Technology

Demographics, Wealth, and Interest Rates in the 21st Century
(with Adrien Auclert, Hannes Malmberg, and Frédéric Martenet)

Research Notes

A Note on Piketty and Diminishing Returns
June 2014


Investment Hangover and the Great Recession (with Andrei Shleifer and Alp Simsek)
American Economic Journal: Macroeconomics 10 (2), pp. 113–153, April 2018
[Published version]

Aggregate Demand and the Top 1 Percent (with Adrien Auclert)
American Economic Review: Papers & Proceedings 107 (5), pp. 588–592, May 2017
[Published version]

Unique Equilibrium in the Eaton-Gersovitz Model of Sovereign Debt (with Adrien Auclert)
Journal of Monetary Economics 84, pp. 134–146, December 2016
[Published version]

Deciphering the Fall and Rise in the Net Capital Share: Accumulation or Scarcity?
Brookings Papers on Economic Activity 46 (1), pp. 1–69, Spring 2015
[Published version with comments and discussion]