Research Department
Federal Reserve Bank of Philadelphia
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Philadelphia, PA 19106



Disclaimer: The contents of this page do not necessarily represent the views of the Federal Reserve.


"Labor Market Dynamics under Long-Term Wage Contracting"
Journal of Monetary Economics, 56, 2 (March 2009)
Supplements: Appendix A, B, C

"Aggregate and Idiosyncratic Risk in a Frictional Labor Market"
American Economic Review, 101, 6 (October 2011)
Supplements: Online appendix, Mathematica-file on eigenvalue theorem

"Customer Capital" with Francois Gourio
Review of Economic Studies, 81, 3 (June 2014)

Supplements: Online appendix

"Can Intangible Capital Explain Cyclical Movements in the Labor Wedge?" with Francois Gourio
American Economic Review, 104, 5 (May 2014)

"Unions in a Frictional Labor Market" with Per Krusell
Journal of Monetary Economics, 80 (June 2016)
Supplements: Online appendix

Working Papers

"Relative Price Dispersion: Evidence and Theory" with Greg Kaplan, Guido Menzio and Nico Trachter
(revision requested, AEJ: Micro)
Supplements: Slides

Ongoing Projects

(presented: SED, Barcelona Summer Forum)
Firm growth with customer capital

(presented: FRB Phila, Wharton/UPenn)
Firm wage policies in a frictional labor market

Older Unpublished Paper

"On the Implications of a Balanced Budget Rule - An Adaptive Learning Perspective" Licentiate Thesis, University of Helsinki, 2002 (email me for paper)