Recent Publications
Old, Sick and Uninsured: Accounting for Features of the U.S. Long-term Care Insurance Market.
with Karen Kopecky and Tatyana Koreshkova.
Econometrica, 87 (2019), pp. 981-1019
Why prices don't respond sooner to a prospective sovereign debt crisis.
with Tomoyuki Nakajima.
Review of Economic Dynamics 29 (2018), pp. 235-255
Old, Sick, Alone and Poor: A Welfare Analysis of Old-Age Social Insurance Programmes.
with Karen Kopecky and Tatyana Koreskova.
Review of Economic Studies 84 (2017), pp. 580-612.
Some Unpleasant Properties of Log-linearized solutions when the Nominal Rate is Zero
with Lena Boneva and Yuichiro Waki.
Journal of Monetary Economics, 84 (2016) p. 216-232.
The Implications of a Graying Japan for Government Policy.
with Douglas Joines
Journal of Economic Dynamics and Control 57 (2015) pp. 1-23.
Generalized Look-Ahead Methods for Computing Stationary Densities.
with Huiyu Li and John Stachurski
Mathematics of Operations Research 37 (2015) pp. 399-558.
Uninsured Countercyclical Risk: An Aggregation Result and Application to Optimal Monetary Policy.
with Tomoyuki Nakajima
Journal of the European Economic Association 10 (2012) pp. 1450-1470.
New Keynesian Dynamics in a Low Interest Rate Environment
with Lena Boneva
Journal of Economic Dynamics and Control, 35 (2011) pp. 2213-2227.
Work In Progress
Monetary Policy Over the Lifecycle
with Daisuke Ikeda
Here is a FRB Atlanta Macro Blog that provides a nontechnical summary of some of the paper's results:
How does a households Exposure to Monetary Policy Vary over the Life Cycle?
Here is an even shorter summary in FRB Atlanta Economy Matters.
Why Aging Induces, Deflation and Secular Stagnation
with Daisuke Ikeda
Here is a FRB Atlanta Policy Hub paper that provides a nontechnical summary of some of the paper's results:
Aging, Deflation and Secular Stagnation
Here is a link to a FRB Atlanta Podcast on the same subject.