Working Papers

• Is There Hope For The Expectations Hypothesis ? -- new (with Richard Crump and Emanuel Moench)

  • Supplemental Appendix 1

  • Supplemental Appendix 2

• Monetary Policy Trade-offs at the Zero Lower Bound (With Chris Gibbs and Bruce Preston), This version March 2022. New version coming soon. Technical Appendix

• Price Setting When Expectations are Unanchored (with Daniel Abib, Joao Ayres, Marco Bonomo, Carlos Carvalho, Silvia Matos, Marina Perrupato), Draft available soon. Here is a link to recent slides.

• Fundamental Disagreement About Monetary Policy and the Term Structure of Interest Rates (With Shuo Cao, Richard Crump and Emanuel Moench) , July 2020 (new version August 2021)

Older Papers

• The Term Structure of Expectations and Bond Yields (with Richard Crump and Emanuel Moench), 2017 

  • Supplemental Appendix

  • Slides

• The FRBNY DSGE Model (with Marco Del Negro, Marc Giannoni, Argia Sbordone, Andrea Tambalotti, Matthew Cocci, Raiden Hasegawa and Henry Linder), 2013 

• Long-Term Debt Pricing and Monetary Policy Transmission under Imperfect Knowledge (with Marc Giannoni and Bruce Preston), 2012

• Central Bank Transparency and Model Uncertainty, 2005

• Optimal Monetary and Bounded Rationality , 2001