Working papers:

Trading Down and the Business Cycle

(with Sergio Rebelo and Arlene Wong).

The Trend is the Cycle: Job Polarization and Jobless Recoveries

 (with Henry Siu). S
ee the media coverage in the new york times (also appearing in the globe and mailirish independentbelfast telegraph, and reuters), the atlanticbloomberg,businessweek (also appearing in financial post and the boston globe), forbesbusinessweekaustin american-statesman (also appearing in pittsburgh post-gazetteand the vancouver sun), bloombergstandard-examinerthe new york timesus news and world reporthuffington postchicago sun-timesthe atlantic (also appearing in national journal), the associated press (appearing in washington postsan francisco chroniclesalon.comhuffington postabc news, and yahoo news), deseret newsthe globe and mail, and the associated press (appearing in washington postfinancial postboston globeminneapolis star tribunesan jose mercury news, and abc news); see the blog coverage at macromaniamacroblogipprthe economistthe washington postnew statesmaneconomist's viewthe wall street journalthe washington posteconomist's viewmother jonesamerican enterprise institutethe new york timesbrad delongthe economist, and the economistsee the summaries in the st. louis fed's regional economistthe nber digest, the dallas fed's economic letter, and our column at

The Micro and Macro of Disappearing Routine Jobs: A Flows Approach, (with Guido Matias Cortes, Christopher Nekarda, and Henry Siu).  See the media coverage in the new york timesengadgetfivethirtyeightthe washington center for equitable growth, and the globe and mailsee our summary column at

Working papers under revision: 

Really Uncertain Business CyclesR&R, Econometrica(with Nick Bloom, Max Floetotto, Itay Saporta-Eksten, and Stephen J. Terry)

Understanding Movements in Aggregate and Product-Level Real-Exchange RatesR&R, American Economic Review,  (with Ariel Burstein)

Markup Variations and Endogenous Fluctuations in the Price of Investment Goods R&R, Macroeconomic Dynamics, (with Max Floetotto and Seth Pruitt)

What Should I Be When I Grow Up? Occupations and Unemployment over the Life CycleR&R, Journal of Monetary Economics, (with Martin Gervais, Yaniv Yedid-Levi, and Henry Siu). Seee the media coverage in fivethirtyeightthe washington center for equitable growthyahoo! finance, and the Atlantic.

Published papers:

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Non-linear Effects of Taxation on GrowthforthcomingJournal of Political Economy ,(with Sergio Rebelo).

Price Stickiness: Empirical Evidence of the Menu Cost Channel forthcomingReview of Economics and Statistics, (with Eric Anderson and Duncan Simester).

Technological Learning and Labor Market Dynamics, forthcomingInternational Economic Review, (with Martin Gervais, Yaniv Yedid-Levi, and Henry Siu).

How Frequent are Small Price Changesforthcoming American Economic Journal: Macroeconomics, (with Marty Eichenbaum, Sergio Rebelo, Josephine Smith).

The Demand for Youth: Explaining Age Differences in the Volatility of Hours, American Economic Review, December 2013, vol. 103, issue 7, 3022-3044 (with Henry Siu and Seth Pruitt).  

Reference Prices and Nominal Rigidities, American Economic Review, February 2011, vol. 101, issue 1, 234-262, (with Marty Eichenbaum and Sergio Rebelo).

Can News about the Future Drive the Business Cycle?, American Economic Review, September 2009, vol. 99, issue 4, 1097-1118, (lead article), (with Sergio Rebelo).

The Young, the Old, and the Restless: Demographics and Business Cycle VolatilityAmerican Economic Review, June 2009, vol. 99, issue 3, 804-826 (with Henry Siu). See the coverage in the Minneapolis fed's the region, the richmond fed's around the fed, and the american; see the blog coverage at greg mankiw's blognew economisteconomist's view, and newsweek.

News and Business Cycles in Open EconomiesJournal of Money Credit and Banking, December 2008, vol. 40, issue 8, 1699-1711 (with Sergio Rebelo).

Firm Dynamics, Markup Variations and the Business CycleJournal of Monetary Economics, October 2008, vol. 55, issue 7, 1238-1252 (with Max Floetotto).

Income Effects and Indeterminacy in a Calibrated One-Sector Growth ModelJournal of Economic Theory, November 2008, vol. 143, issue 1, 610-623.

Behavioral Theories of the Business Cycle, Journal of the European Economic Association, April-May 2007, Vol. 5, No. 2-3, 361-368 (with Sergio Rebelo).

Firm Dynamics and Markup Variations: Implications for Multiple Equilibria and Endogenous Economic Fluctuations, Journal of Economic Theory, November 2007, vol. 137, issue 1, 300-325.


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