PUBLICATIONS
“Inflation Expectations and Nonlinearities in the Phillips Curve”, with Alexander Doser, Nikhil Rao, and Viacheslav Sheremirov. Journal of Applied Econometrics (2023) vol. 38, Issue 4, pages 453-471. [Link to Working Paper] [Link to Article]
“The Commitment Benefit of Consols in Government Debt Management”, with Davide Debortoli and Pierre Yared, American Economic Review: Insights. (2022) Vol. 4, Issue 2, pp. 255-70. [Link to Working Paper] [Link to Article]
“Imperfect Credibility, Sticky Wages, and Welfare”, with Donghyun Park and Luca Rondina, Journal of Macroeconomics. (2021) Volume 70, December. [Link to Working Paper] [Link to Article]
“Optimal Fiscal Policy without Commitment: Revisiting Lucas-Stokey”, with Davide Debortoli and Pierre Yared, Journal of Political Economy. (2021), vol. 129 (5), pages 1640-1665. [Link to Working Paper] [Link to Article]
“Designing a Simple Loss Function for Central Banks: Does a Dual Mandate Make Sense?”, The Economic Journal. (2019) vol. 129, issue 621, pp. 2010-2038, with Davide Debortoli, Jinill Kim, and Jesper Linde. [Link to Working Paper] [Link to Article]
“Optimal Time-Consistent Government Debt Maturity”, Quarterly Journal of Economics. (2017) vol. 132, issue 1, pp. 55-102, with Davide Debortoli and Pierre Yared [Link to Working Paper] [Link to Article]
“Monetary Regime Switches and Central Bank Preferences”, Journal of Money, Credit and Banking. (2014) vol. 46, Issue 08, December 2014, pp. 1591-1626, with Davide Debortoli. [Link to Working Paper] [Link to Article]
“Loose Commitment in Medium-Scale Macroeconomic Models: Theory and Applications”, Macroeconomic Dynamics. (2014) vol. 18, Issue 01, January 2014, pp. 175-198, with Davide Debortoli and Junior Maih. [Link to Working Paper] [Link to Article]
“News and Default Risk in Small Open Economies”, Journal of International Economics. (2013) vol. 91, Issue 1, pp 1–17, with Bora Durdu and Horacio Sapriza. [Link to Working Paper] [Link to Article]
“Imperfect Credibility and the Zero Lower Bound on the Nominal Interest Rate”, (2012), Journal of Monetary Economics, vol. 59, Issue 2, pp. 135-149, with Martin Bodenstein and James Hebden. (press coverage from Financial Times, Money Supply Blog, on July 20, 2010) [Link to Working Paper] [Link to Article]
“Lack of Commitment and the Level of Debt”, Journal of the European Economic Association. (2013), vol. 11, Issue 5, pp. 1053–1078, with Davide Debortoli. (see Tom Sargent’s Nobel prize lecture) [Link to Working Paper] [Link to Article]
“Inflation Dynamics: The Role of Expectations”, Journal of Money, Credit and Banking (2010) vol. 42, pp. 1161-1172. [Link to Article]
“Fiscal Policy under Loose Commitment”, Journal of Economic Theory, vol. 145-3, (May 2010), pp. 1005-1032, with Davide Debortoli. [Link to Working Paper] [Link to Article]
“Simple Monetary Rules with Fiscal Dominance”, Journal of Money, Credit and Banking, vol. 42 (February 2010), pp. 63-92, with Michael Kumhof and Irina Yakadina. [Link to Working Paper] [Link to Article]
“On the Epidemiological Microfoundations of Sticky Information”, Oxford Bulletin of Economics and Statistics, vol. 71(5) (2009), pp. 643-657. [Link to Article]
“Learning the Inflation Target”, Macroeconomic Dynamics, vol. 13, 2009, pp. 167-188. [Link to Working Paper] [Link to Article]
COMPLETED WORKING PAPERS
“Interest Rate Surprises: A Tale of Two Shocks” with Ali Ozdagli and Jenny Tang, Paper No CFM-DP2023-20, July 2023. [Link to Working Paper]
“House Price Expectations and Inflation Expectations: Evidence from Survey Data” with Vedanta Dhamija, and Roshni Tara, Paper No CFM-DP2023-18, July 2023. [Link to Working Paper]
“Inflation Expectations, Interest Rates, and Consumption Behavior” with Don Park.
“Optimal Taxation and Debt Management without Commitment” 2018, with Davide Debortoli and Pierre Yared [Link to Working Paper]
"Optimal Macroprudential Policy: Frictions, Redistribution, and Politics," with Andrea Prestipino and Matteo Iacoviello, 2016 Meeting Papers 1602, Society for Economic Dynamics. [Link to Working Paper]
“Do central bank´s forecasts take into account public opinion and public views?”. [Link to Working Paper]
"Political disgreement, lack of commitment and the level of debt", with Davide Debortoli. International Finance Discussion Paper N. 938. (A subset of the results is published in the JEEA “Lack of Commitment and the Level of Debt”) [Link to Working Paper]
OLDER VERSIONS OF WORKING PAPERS
"The Macroeconomic Effects of External Pressures on Monetary Policy”, International Finance Discussion Paper N. 944. [Link to Working Paper]
"On Linear-Quadratic Approximations", with Davide Debortoli. [Link to Working Paper]
"Optimal Monetary Policy in a Heterogeneous Expectations Framework". [Link to Working Paper]