Publications
(18) Accounting for macro-finance trends (with Emmanuel Farhi)
Brookings Papers on Economic Activity, Fall 2018 volume, pp147-223
Online Appendix - Replication file (zip)
(17) The Cross-Section of Labor Leverage and Equity Returns
(with Andres Donangelo, Matthias Kehrig and Miguel Palacios)
Journal of Financial Economics, 2019, 132(2):pp 497-518
(16) The tradeoffs in leaning against the wind
(with Anil Kashyap and Jae Sim)
IMF Economic Review, 66:pp70–115(2018)
(15) Firm entry and macroeconomic dynamics: a State-level analysis
(with Todd Messer and Michael Siemer)
The file above is a slightly longer version of the one published in
American Economic Review Papers and Proceedings, May 2016, 116(5) pp 214-218
Replication file (zip) - erratum: there is a slight difference in one figure published and that produced by these files.
(14) Risk management for monetary policy near the zero lower bound
(with Charles Evans, Jonas Fisher, and Spencer Krane)
Brookings Papers on Economic Activity, Spring 2015 volume, pp. 141-196
Replication code (zip) Appendix 1 Appendix 2
(13) Can intangible capital explain the cyclical movements in the labor wedge?
(with Leena Rudanko)
American Econ. Review Papers and Proceedings, 104(5):183-188, May 2014.
(12) Customer Capital
(with Leena Rudanko)
Review of Economic Studies, 81(3):1102-1136, July 2014.
(11) Size-Dependent Regulations, Firm Size Distribution, and Reallocation
(with Nicolas Roys)
Quantitative Economics, 5(2):377-416, July 2014.
(10) Credit risk and Disaster risk
AEJ: Macroeconomics Best Paper Prize, 2015
American Econ. Journal: Macroeconomics, 5(3):1-34, July 2013.
Online appendix and Replication code (zip).
(with Michael Siemer and Adrien Verdelhan)
Journal of International Economics, 89(2):471-484, 2013.
(8) Disaster Risk and Business Cycles
American Economic Review, 102(6):2734-2766, 2012. Appendix Programs.
NOTE: the programs work in Matlab R2011 but some changes introduced by Mathworks since around 2014 break them
Previous version (simpler model, empirical exercise) and Appendix Programs.
(7) Putty-Clay Technology and Stock Market Volatility
Journal of Monetary Economics, 58(2):117-131, 2011. Appendix.
(6) Transitional Dynamics of Dividend Tax and Capital Gains Tax Cuts
(with Jianjun Miao)
Review of Economic Dynamics, 14(2):368-383, 2011.
Technical Appendix Programs (zip) Programs and Results (zip; 30mb file)
(5) Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform
(with Jianjun Miao)
American Econ. Journal: Macroeconomics, 2(1):131-168, 2010. Programs (zip).
(4) Is there a majority to support a capital tax cut?
Journal of Economic Dynamics and Control, 33(6):1278-1295, 2009.
(3) Time Series Predictability in the Disaster Model.
Finance Research Letters, 5(4): 191-203, 2008. Computational Appendix. Programs (zip)
American Economic Review - Papers and Proceedings, 98(2): 68-73, 2008. Correction
(1) Investment Spikes: New Facts and a General Equilibrium Exploration
(with Anil K Kashyap)
Journal of Monetary Economics, 54:S1-S22, 2007.
Longer version (NBER wp); Appendix;
Programs: Basic; Programs: convex-concave cdf