Monetary Policy

The papers are sorted in reverse chronological order according to the dates of the latest draft for unpublished papers (shown in square brackets) or the date of publication for the published papers. Click on the titles of papers to access various versions of the paper and other material such as codes, data and slides, where available.

Current research is supported by National Science Foundation grants SES 1061725, SES 1425740, and SES 1851093.

Pricing Under Distress (with Andres FernandezErnesto Pasten, and Felipe Saffie) [Draft Coming Soon].

Reconciling Narrative and High-Frequency Identification of Monetary Policy Shocks: A Machine Learning Approach (with Thomas Drechsel) [Draft Coming Soon].

Financial Frictions and Business Cycles (with Pablo Cuba-Borda and Frank Schorfheide) [Draft Coming Soon].

SVARs With Occasionally-Binding Constraints (with Frank Schorfheide, Marko Mlikota, and Sergio Villalvazo), Journal of Econometrics, forthcoming.

Institutions, Tax Evasion and Optimal PolicyJournal of Monetary Economics, 2021, 118, 212-229.

Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries (with Pablo Cuba-Borda and Frank Schorfheide), Review of Economic Studies, 2018, 85, 87-118.

Inflation During and After the Zero Lower Bound (with Frank Schorfheide), 2015 Jackson Hole Symposium Volume, Federal Reserve Bank of Kansas City, 2016, 359-436.

Sticky Prices versus Monetary Frictions: An Estimation of Policy Trade-offs, (with Frank Schorfheide), American Economic Journal: Macroeconomics, January 2011, 3, 60-90.

Money and Capital (with Christopher J. Waller and Randall D. Wright), Journal of Monetary Economics, March 2011, 58, 98-116.

Optimal Fiscal and Monetary Policy when Money is Essential (with Sanjay K. Chugh), Journal of Economic Theory, September 2010, 145(5), 1618-1647.