Research Papers

 

Bank Liabilities Channel
(Preliminary Version)

 

Risky Investments with Limited Commitment
(with Tom Cooley and Ramon Marimon)

 

Credit and Hiring
(with Qi Sun)

 

The Macroeconomic Effects of Asset Price Shocks in a Globalized Financial Market

 

Capital Mobility and International Sharing of Cyclical Risk
(with Julien Bengui and Enrique Mendoza)

 

Financial Globalization and the Rising of Public Debt
(with Marina Azzimonti and Eva de Francisco)

 

Financial Frictions in Macroeconomic Fluctuations

 

International Recessions
(with Fabrizio Perri)

 

Financial Markets and Unemployment
(with Tommaso Monacelli and Antonella Trigari)

 

Macroeconomic Effects of Financial Shocks
(with Urban Jermann)

 

Limited Nominal Indexation of Optimal Financial Contracts

(with Cesaire Meh and Yaz Terajima)


Understanding the International Great Moderation

(with Fabrizio Perri)


Entrepreneurship in Macroeconomics

 

Financial Integration, Financial Development and Global Imbalances
(with Enrique Mendoza and Victor Rios-Rull)

 

On the Welfare Implications of Financial Globalization without
Financial Development
(with Enrique Mendoza and Victor Rios-Rull)

 

Public Employment and Business Cycle
(with Antonella Trigari)

 

Financial Innovations and Macroeconomic Volatility
(with Urban Jermann)


Competition, Human Capital and Income Inequality
with Limited Commitment
(with Ramon Marimon)


Financial Markets and Wages
(with Claudio Michelacci)


Uninsurable Investment Risks
(with Cesaire Meh)

 

Stock Market Boom and The Productivity Gains of The 1990s
(with Urban Jermann)

 

Investment and liquidation in renegotiation-proof contracts
with moral hazard

 

Optimal financial contracts and the dynamics of insider ownership
(with Charles Himmelberg)

 

Optimal Time-Consistent Taxation with International Mobility of Capital
(with Paul Klain and Victor Rios-Rull)

 

Policy Commitment and the Welfare Gains from Capital Market Liberalization

 

Aggregate Consequences of Limited Contract Enforceability
(with Thomas Cooley and Ramon Marimon)

 

Understanding the Great Depression:
What can we learn from the Italian Experience?
(with Fabrizio Perri)

 

Common Currencies vs. Monetary Independence
(with Thomas Cooley)

 

The Costs of Losing Monetary Independence: The Case of Mexico
(with Thomas Cooley)

 

Optimal Monetary Policy in a Phillips Curve World
(with Thomas Cooley)

 

A Neoclassical Model of The Phillips Curve Relation
(with Thomas Cooley)

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Financial Markets and Firm Dynamics
(with Thomas Cooley)

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Monetary Policy and The Financial Decisions of Firms
(with Thomas Cooley)

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Growth, Learning and Redistributive Policies

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The Importance of Entrepreneurship for Wealth Concentration and Mobility

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Entrepreneurship, Saving and Social Mobility

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Dimensions of Inequality: Facts on the U.S. Distributions of Earnings, Income, and Wealth
(with Javier Diaz-Gimenez and Jose-Victor Rios-Rull)

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Understanding the U.S. Distribution of Wealth
(with Jose-Victor Rios-Rull)

 

Are Consumption Taxes Really Better Than Income Taxes?
(with Per Krusell and Jose-Victor Rios-Rull)

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Politico-Economic Equilibrium and Economic Growth
(with Per Krusell and Jose-Victor Rios-Rull)

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