Kieran James Walsh

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CV (December 2024)

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Research

Academic Publications

Jeon, W. and K.J. Walsh (2024): "Heterogeneity and Macroeconomic State Dependence in the Spending Response to Stimulus," Economics Letters.

Toda, A.A. and K.J. Walsh (2024): "Recent Advances on Uniqueness of Competitive Equilibrium," Journal of Mathematical Economics, 113, 103008.

Miranda-Pinto, J., D. Murphy, K.J. Walsh, and E. Young (2023): "Saving Constraints, Inequality, and the Credit Market Response to Fiscal Stimulus," European Economic Review, 151, 104355.

Murphy, D. and K.J. Walsh (2022): "Government Spending and Interest Rates," Journal of International Money and Finance, 123, 102598.

Toda, A.A. and K.J. Walsh (2020): "The Equity Premium and the One Percent," Review of Financial Studies, 33, 3583-3623.

Geanakoplos, J. and K.J. Walsh (2018): "Uniqueness and Stability of Equilibrium in Economies with Two Goods," Journal of Economic Theory, 174, 261-272. Cowles Foundation Discussion Paper 2050.

Geanakoplos, J. and K.J. Walsh (2018): "Inefficient Liquidity Provision," Economic Theory, 66, 213-233. Cowles Foundation Discussion Paper 2077.

Toda, A.A. and K.J. Walsh (2017): "Fat Tails and Spurious Estimation of Consumption-Based Asset Pricing Models," Journal of Applied Econometrics, 32, 6, 1156–1177.

Toda, A.A. and K.J. Walsh (2017): "Edgeworth Box Economies with Multiple Equilibria," Economic Theory Bulletin, 5, 65-80.

Toda, A.A. and K.J. Walsh (2015): "The Double Power Law in Consumption and Implications for Testing Euler Equations," Journal of Political Economy, 123, 5, 1177-1200.

Sbordone, A.M., A. Tambalotti, K. Rao, and K.J. Walsh (2010): "Policy Analysis Using DSGE Models: An Introduction," Federal Reserve Bank of New York Economic Policy Review, vol. 16 (2).

Marco, A.C. and K.J. Walsh (2007): "Credibility and Credulity: How Beliefs about Beliefs Affect Entry Incentives," Economics Bulletin, vol. 11, num. 1.

Policy Articles

Martínez, I., A. Rathke, and K.J. Walsh (2024): "A Parsimonious Model of AHV Expenditures," Bundesamt für Sozialversicherungen (BSV). 

Working Papers

"Pricing Climate Risks: Evidence from Wildfires and Municipal Bonds" with Lint Barrage and Woongchan Jeon. CESifo Working Paper No.11447. Policy Brief (ETH Zurich Centre for Energy Policy and Economics).

"A Model of Expenditure Shocks" (February 2024) with Daniel Murphy, Jorge Miranda-Pinto, and Eric Young, reject & resubmit, Journal of Monetary Economics.

"Equilibrium Multiplicity in Aiyagari and Krusell-Smith" (May 2024) with E. Young.

"A Theory of Portfolio Choice and Partial Default"  (October 2018).

"Portfolio Choice and Partial Default in Emerging Markets: A Quantitative Analysis" (July 2016).

Work in Progress

"Resilience of a Small Open Economy: The Case of Switzerland" with H. Gersbach and P. Maunoir

"Production Networks, Weather Shocks, and the Global Costs of Climate Change," with L. Barrage and H. Gersbach.

"What Does the Market Think?" with Leland Farmer and Daniel Murphy.

"Trade Elasticities and the Sectoral Effects of Credit Booms" with Udara Peiris.

"A Discrete-Time Macroeconomic Model with a Financial Sector" with David Rappoport, slides.

Recent Coauthors and Collaborators

Lint Barrage (my wife)

Leland Farmer

John Geanakoplos

Hans Gersbach

Woongchan Jeon

Alan Marco (my undergraduate advisor who inspired me to enter academia)

Paul Maunoir

Jorge Miranda-Pinto

Daniel Murphy

Udara Peiris

David Rappoport

Alexis Akira Toda

Eric Young