Research
Publications
Sovereign Debt and Credit Default Swaps with G. Chaumont and B. Sultanum
Journal of International Economics, 150, 2024, 103921 (special issue on Sovereign Default)
Additional: Reproduction | Slides (Short) | Slides (Long)
On Regional Borrowing, Default, and Migration with P. Guerron
Journal of International Economics, 150, 2024, 103916 (special issue on Sovereign Default)
Additional: Reproduction | Appendices | WP | | MarketWatch | FRBR WP (old version)
Incarceration, Employment and Earnings: Dynamics and Differences with J. B. Jones, U. Neelakantan, and K. Athreya
Review of Economic Dynamics, 51:677-697, 2023
Additional: Bostic via Fox Business | FRBR WP (old name) | EB
Economics Letters, 204:109872, 2021
Additional: Reproduction | Appendices
Accounting for the Rise in College Tuition with A. Hedlund
Education, Skills, and Technical Change: Implications for Future U.S. GDP Growth, Ed. Charles R. Hulten, Ed. Valerie A. Ramey. Chicago: The University of Chicago Press, 2019. 357-394
Additional: Published Version | NBER Volume | NBER WP | Web Appendix | WSJ | MarketWatch | Forbes | Heritage Foundation | Marginal Revolution | Inside Higher Ed | Schiff | Zero Hedge | American Action Forum (Non-technical Summary)
A Practical Approach to Testing Calibration Strategies with Y. Cao
Computational Economics, 53(3):1165-1182, 2019
Additional: Published Version | CAEPR WP 2016-004 | Tools and Reproduction
A Divide and Conquer Algorithm for Exploiting Policy Function Monotonicity with S. Qiu
Quantitative Economics, 9(2):521-540, 2018 (Lead article)
Additional: Appendices | Main Fortran module | Reproduction | Slides (Old Version) | CAEPR WP 2017-006
Dynamics of Investment, Debt, and Default with P. Guerron
Review of Economic Dynamics, 28:71-95, 2018
Additional: Philadelphia Fed WP 13-18 | Reproduction
Asymmetric Business Cycles and Sovereign Default with P. Guerron
Economics Letters, 161: 116-119, 2017
Optimal Bankruptcy Code: A Fresh Start for Some
Journal of Economic Dynamics and Control, 85:123-149, 2017
Additional: Reproduction | Credit Slips
Nonlinear Adventures at the Zero Lower Bound with J. Fernandez-Villaverde, P. Guerron, and J. Rubio-Ramirez
Journal of Economic Dynamics and Control, 57:182-204, 2015
Additional: NBER WP | Reproduction
Evaluating Default Policy: The Business Cycle Matters
Quantitative Economics, 6(3):795-823, 2015
Additional: Appendices | Reproduction
Dealing with Consumer Default: Bankruptcy vs Garnishment with S. Chatterjee.
Journal of Monetary Economics, 59(S):S1-S16, 2012
Additional: Appendices
Working papers
Accounting for the Rise in College Tuition across U.S. Colleges with A. Hedlund
Funded by NSF Grant 1730078
Additional: WSJ
Efficient Computation with Taste Shocks
Works in progress
Tuition Growth Over the Long Run with A. Hedlund
A Quantitative Theory of Hard and Soft Sovereign Defaults with P. Guerron
Additional: Slides
Decomposing the Racial Wealth Gap with K. Athreya, J. B. Jones, and U. Neelakantan
The Roots of Self-Fulfilling Debt Crises with G. Chaumont and B. Sultanum
Additional for related work on GameStop and AMC: WSJ | EB
Fed publications
Economic Quarterlies
Computing Dynamic Heterogeneous-Agent Economies: Tracking the Distribution
Economic Quarterly, 106(2):61-95, 2020
Additional: Matlab Code for Smolyak Interpolation | PIER Working Paper 11-018
Economic Briefs
Mortgage Spreads and the Yield Curve
Economic Brief, August 2023, No. 23-27
Additional: Reproduction
The Effects of Higher Borrowing Costs: Insights from Sovereign Default Models
Economic Brief, July 2023, No. 23-22
How Do Real Exchange Rates Vary in Hard and Soft Sovereign Defaults? with B. Fuller and P. Guerron
Economic Brief, October 2022, No. 22-40
Do Student Loans Drive Up College Tuition? with A. Hedlund
Economic Brief, August 2022, No. 22-32
GameStop, AMC and the Self-Fulfilling Beliefs of Stock Buyers with G. Chaumont and B. Sultanum
Economic Brief, April 2021, No. 21-13
Additional: WSJ
Incarceration's Life-Long Impact on Earnings and Employment with U. Neelakantan
Economic Brief, March 2021, No. 21-07
Additional: Bostic via Fox Business (duplicate of RED link)
Loan-Delinquency Projections for COVID-19 with J. B. Jones and J. Romero
Economic Brief, April 2020, No. 20-05
Additional: Supporting WP with J. B. Jones
Linking Municipal Defaults to Inward Migrations with P. Guerron and and D. A. Price
Economic Brief, November 2019, No. 19-11
Discussions
Decentralization and Overborrowing in a Fiscal Federation by Si Guo, Yun Pei, and Zoe Xie
Sovereign Default Risk and Firm Heterogeneity by Cristina Arellano, Yan Bai, and Luigi Bocola
Financial Frictions, Assets Prices, and the Great Recession by Zhen Huo and Victor Rios-Rull