Recent Publications
Recent Publications
Monetary Policy Over the Lifecycle
with Daisuke Ikeda
Review of Economic Dynamics (2025, forthcoming).
Here is a FRB Atlanta Macro Blog that provides a nontechnical summary of some of the paper's results:
How Does a Household's Exposure to Monetary Policy Vary Over the Life Cycle?
Here is an even shorter summary in FRB Atlanta Economy Matters.
Here is the replication package.
Reforming the US Long_term Care Insurance Market
with Karen Kopecky
Prepared for: Retirement Savings, Investment, and Spending: New Lessons from Behavioral Research, edited by Olivia Mitchell and Nikolai Roussanov (Oxford University Press), (2024, forthcoming).
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.
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.
"The Winners Turn Out to Be Young, Working-Age Households": A Discussion of Demographic Shifts