Working Papers
How Oil Shocks Propagate: Evidence on the Monetary Policy Channel (with Wataru Miyamoto and Thuy Lan Nguyen)
revise and resubmit at the American Economic Review
The Economics of Financial Stress (with Chen Lian and Yuriy Gorodnichenko)
conditionally accepted at the Review of Economic Studies
Zero Lower Bound on Inflation Expectations (with Yuriy Gorodnichenko)
Optimal Macroprudential and Monetary Policy in a Currency Union
Financial Integration and Financial Instability
Sectoral Shocks, the Beveridge Curve and Monetary Policy (with Neil Mehrotra)
Published and Forthcoming Papers
Central Bank Balance Sheet Policies without Rational Expectations (with Luigi Iovino)
The Review of Economic Studies, 2023
Debt Sustainability in a Low Interest Rate World (with Neil Mehrotra)
Journal of Monetary Economics, 124, November 2021.
Financial Shocks, Firm Credit and the Great Recession (with Neil Mehrotra)
Journal of Monetary Economics, 117, January 2021.
Government Spending Multipliers under Zero Lower Bound: Evidence from Japan (with Wataru Miyamoto and Thuy Lan Nguyen)
American Economic Journal: Macroeconomics, 10(3), 247-77, July 2018.
The older version containing a model (April 2017)
The Effects of Tax Changes at the Zero Lower Bound: Evidence from Japan (with Akihisa Kato, Wataru Miyamoto, and Thuy Lan Nguyen)
AEA Papers and Proceedings, 108, 513-18, May 2018.
Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence (with Emi Nakamura and Jon Steinsson)
American Economic Journal: Macroeconomics, 9(1), 1-39, January 2017.
Web Appendix: Figure A.1 -- Data and Programs