Eric T. Swanson Mt Rainier
Welcome Research Curriculum Vitae Perturbation AIM Personal

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; presentation slides from my discussions of other authors’ work; or citations to my work in academic journals, the popular press, or policymaker speeches and testimony, click on the corresponding tab at right.



Working Papers

“A Macroeconomic Model of Equities and Real, Nominal, and Defaultable Debt.”
(abstract)(full paper)(presentation at the NBER Summer Institute)

“Monetary Policy Effectiveness in China: Evidence from a FAVAR Model,” (with John Fernald and Mark Spiegel), forthcoming in the Journal of International Money & Finance.
(abstract)(full paper)

“Implications of Labor Market Frictions for Risk Aversion and Risk Premia.”
(abstract)(full paper)(presentation at SED meetings, Seoul)

“Risk Aversion, Risk Premia, and the Labor Margin with Generalized Recursive Preferences.”
(abstract)(full paper)(presentation at Birkbeck College, London)(shorter presentation at Macro-Finance Society Workshop, Ohio State)

“Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates” (with John Williams), forthcoming in The American Economic Review.
(abstract)(full paper)(presentation at UC Davis)(shorter presentation at AEA Meetings, San Diego)(Econbrowser 2/15/12)(Reuters 2/14/12)

Longer, working-paper version of “Risk Aversion and the Labor Margin in Dynamic Equilibium Models,” The American Economic Review 102, June 2012, pp. 1663-1691. The working paper contains results for habits and early results for generalized recursive preferences.
(abstract)(longer working paper version)

Working-paper version of “The Bond Premium in a DSGE Model with Long-Run Real and Nominal Risks” (with Glenn Rudebusch), American Economic Journal: Macroeconomics 4, January 2012, pp. 105-43. The working paper contains results for a generalized consol and a simpler preference specification that is closer to Woodford's textbook.
(abstract)(working paper version)

“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)

Working Papers
Published Papers
Research Papers by Topic
Conference Discussions
Citations in Academic Journals
Citations in the Popular Press
Citations by Policymakers