Working Papers

• "Household Debt and the Effects of Fiscal Policy," with Sami Alpanda and Melissa Hyunji Song, September 2021

• "Business Cycle Implications of Firm Market Power in Labor and Product Markets," with Sami Alpanda, April 2021

• "State Dependent Government Spending Multipliers: Downward Nominal Wage Rigidity and Sources of Business Cycle Fluctuations," with Yoon J. Jo, updated August 2021

• "Public Pension Reforms and Fiscal Foresight: Narrative Evidence and Aggregate Implications," with Huixin Bi, updated December 2020 (R&R at American Economic Journal: Economic Policy )

• "Explaining the Effects of Government Spending Shocks," August 2009

Publications

• "State Dependence of Monetary Policy Across Business, Credit and Interest Rate Cycles," with Sami Alpanda and Eleonora Granziera, European Economic Review, forthcoming.

• "Homeownership and Housing Transitions: Explaining the Demographic Composition," with Eunseong Ma. International Economic Review, May 2021, 62(2). (Pre-publication version)

• "Household Debt Overhang and Transmission of Monetary Policy" with Sami Alpanda. Journal of Money, Credit and Banking, August 2019, 51(5). (Not for Publication Appendix) (Pre-publication version)

• "Propagation Mechanisms for Government Spending Shocks: A Bayesian Comparison," with Anna Kormilitsina. Journal of Money, Credit and Banking, October 2018, 50(7). (Pre-publication version)

• "Debt and Stabilization Policy: Evidence from a Euro Area FAVAR" with Laura Jackson and Michael T. Owyang. Journal of Economic Dynamics and Control, August 2018, 93. (Pre-publication version)

• "Government Spending Multipliers in Good Times and in Bad: Evidence from U.S. Historical Data." with Valerie A. Ramey Journal of Political Economy, April 2018, 126(2). (VoxEU column) (Supplementary Appendix) (Data and Programs) (Pre-publication version)

• "Addressing Household Indebtedness: Monetary, Fiscal or Macroprudential Policy?" with Sami Alpanda. European Economic Review, February 2017, 92. (Pre-publication version)

• "Housing and Tax Policy," with Sami Alpanda. Journal of Money, Credit and Banking, March-April 2016, 48(2-3). (Not for Publication Appendix) (Pre-publication version) (Corrigendum, October 2018)

• "On Fiscal Multipliers: Estimates from a Medium Scale DSGE Model." International Economic Review, February 2014, 55(1). (Not For Publication Appendix) (Pre-publication version)

• "Interest Rate Rules and Equilibrium Stability under Deep Habits," Macroeconomic Dynamics, January 2014, 18(1). (Not for Publication Appendix) (Pre-publication version)

• "Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data." with Michael T. Owyang and Valerie A. Ramey. American Economic Review, Papers and Proceedings, May 2013, 103(3).

• "Who Benefits from Increased Government Spending? A State-Level Analysis," with Michael T. Owyang. Regional Science and Urban Economics, May 2013, 43(3). (Pre-publication version)

• "What is the Importance of Monetary and Fiscal Shocks in Explaining US Macroeconomic Fluctuations?" with Barbara Rossi. Journal of Money, Credit and Banking, September 2011, 43(6). (Data) (Not for Publication Appendix)

• "A Primer on the Empirical Identification of Government Spending Shocks," with Kristie M. Engemann and Michael T. Owyang. Federal Reserve Bank of St. Louis Review, March/April 2008, 90(2), pp. 117-32.

Other Publications

• "Implementation Delays in Pension Retrenchment Reforms," with Huixin Bi and Kevin Hunt, Federal Reserve Bank of Kansas City Economic Review, Second Quarter 2019.

• "L-functions and Higher Order Modular Functions," with D. Farmer, American Institute of Mathematics Preprint Series, 9 (2006).

• "Characters and q-series in Q(\sqrt(2))," with D. Corson, D. Favero and K. Liesinger, Journal of Number Theory, 107 (2004).