Research

My recent research has focused on the relationship between financial markets and macroeconomics. Current versions of my working papers are provided below. If you're looking for reprints, presentation slides, or additional material for my published papers; a complete listing of all my papers by topic; or presentation slides from my discussions of other authors’ work, click on the corresponding tab at right.

Working Papers

My working paper with Glenn Rudebusch, “The Bond Premium in a DSGE Model with Long-Run Real and Nominal Risks,” has just been publisehd in American Economic Journal: Macroeconomics 4, January 2012, pp. 105-43.
(abstract) – (full paper) – (FRBSF working paper version) – (Bank of Italy presentation) – (shorter presentation at AEA Meetings, Atlanta)

“Risk Aversion and the Labor Margin in Dynamic Equilibium Models,” Federal Reserve Bank of San Francisco Working Paper 2009-26, forthcoming in The American Economic Review.
(abstract) – (full paper) – (longer working paper version) – (Università Bocconi presentation) – (shorter presentation at SCE meetings, San Francisco)

“Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates” (with John Williams).
(abstract) – (full paper)

“Risk Aversion and the Labor Margin with Epstein-Zin, Multiplier, and Habit Preferences,”
(abstract)

“Higher-Order Perturbation Solutions to Dynamic, Discrete-Time Rational Expectations Models” (with Gary Anderson and Andrew Levin), revision requested by Journal of Economic Dynamics and Control.
(abstract) – (full paper) – (Perturbation AIM code & examples)

“Optimal Time-Consistent Monetary Policy in the New Keynesian Model with Repeated Simultaneous Play” (with Gauti Eggertsson), working paper, 2008.
(abstract) – (full paper) – (NBER Summer Institute presentation) – (shorter presentation at SCE Meetings, Paris)

“Econometric Estimation when the ‘True’ Model Forecasts or Errors Are Observed,” working paper, 2006.
(abstract) – (full paper)

“Bayesian Optimal Policy in the Presence of Regime Change and Local Parameter Uncertainty,” working paper, 2006.
(abstract) – (full paper)