Troy Davig

Email: tdavig@gmail.com

CV


Working Papers


Published Papers

  • Discussion of ``Tracking Monetary-Fiscal Interactions Across Time and Space',' International Journal of Central Banking, forthcoming. Working paper.
  • Phillips Curve Instability and Optimal Monetary Policy, Journal of Money, Credit and Banking 48(1), 2016. Working paper.
  • Is Optimal Monetary Policy Always Optimal? (with Refet S. Gurkaynak), International Journal of Central Banking 11(1): 353-384, 2015. Working paper.
  • Monetary Policy Regime Shifts and Inflation Persistence (with Taeyoung Doh), The Review of Economics and Statistics 96(5): 862-875, 2014.
  • Adaptive Learning in Regime-Switching Models (with William Branch and Bruce McGough), Macroeconomic Dynamics 17(5): 998-1022, 2013.
  • Temporarily Unstable Government Debt and Inflation (with Eric Leeper), International Monetary Fund Economic Review 59: 233-270, 2011. Working paper.
  • Decomposing the Declining Volatility of Long-Term Inflation Expectations (with Todd Clark), Journal of Economic Dynamics and Control 35(7): 981-999, 2011.
  • Inflation and the Fiscal Limit (with Eric Leeper and Todd Walker), European Economic Review 55(1): 31-47, 2011.
  • Monetary-Fiscal Interactions and Fiscal Stimulus (with Eric Leeper), European Economic Review 55(2): 211-227, 2011.
  • Unfunded Liabilities and Uncertain Fiscal Financing, (with Eric Leeper and Todd Walker), Journal of Monetary Economics 57(5): 600-619, 2010.
  • Generalizing the Taylor Principle: Reply (with Eric Leeper), American Economic Review 100(1): 618-624, 2010.
  • Monetary-Fiscal Policy Interactions Under Implementable Monetary Policy Rules (with William A. Branch and Bruce McGough), Journal of Money, Credit and Banking 40(5), 2008.
  • Endogenous Monetary Policy Regime Change (with Eric Leeper), NBER International Seminar on Macroeconomics 2006 (Cambridge: MIT Press): 345-377.
  • Generalizing the Taylor Principle (with Eric Leeper), American Economic Review 97(3): 607-635, 2007.
  • Monetary and Fiscal Policy Switching, (with Eric Leeper and Hess Chung), Journal of Money, Credit and Banking 39(4): 809-842, 2007.
  • Change-Points in U.S. Business Cycle Durations, Studies in Nonlinear Dynamics and Econometrics 11(2), 2007.
  • Fluctuating Macro Policies and the Fiscal Theory of the Price Level (with Eric Leeper), NBER Macroeconomics Annual 2006, ed. D. Acemoglu, K. Rogoff, and M. Woodford. Volume 21: 247-298.
  • State-Dependent Stock Market Reactions to Monetary Policy (with Jeff Gerlach), International Journal of Central Banking 2(4): 65-83, 2006.
  • Periodically Expanding Discounted Debt: A Threat to Fiscal Policy Sustainability?, Journal of Applied Econometrics 20(7): 829-840, 2005.
  • Regime-Switching Debt and Taxation, Journal of Monetary Economics 51(4): 837-859, 2004.


Federal Reserve Publications

  • Forecasting the Stance of Monetary Policy Under Balance Sheet Adjustments (with A. Lee Smith), Federal Reserve Bank of Kansas City, The Macro Bulletin, May 2017.
  • Tracking Consumer Credit Trends (with Willem Xu), Federal Reserve Bank of Kansas City, The Macro Bulletin, August 2016.
  • Evaluating a Year of Oil Price Volatility (with Nida Cakir Melek, Jun Nie, A. Lee Smith and Didem Tuzeman), Federal Reserve Bank of Kansas City Economic Review, Third Quarter 2015.
  • Bank Consolidation and Merger Activity Following the Crisis (with Michal Kowalik, Charles S. Morris, Kristen Regehr), Federal Reserve Bank of Kansas City Economic Review, First Quarter 2015.
  • Re-evaluating Labor Market Dynamics - An Introduction to the 2014 Economic Policy Symposium, Federal Reserve Bank of Kansas City, Symposium Proceedings, Jackson Hole, Wyo. August 2014.
  • Connecting ``the Dots": Disagreement in the Federal Open Market Committee (with Richard Crump, Stefano Eusepi, Emanuel Moench), Liberty Street Economics, September 2014.
  • The Wage Cycle and Shadow Labor Supply (with Jos\'e Mustre-del-R\'io), Federal Reserve Bank of Kansas City, The Macro Bulletin, August 2014.
  • Accounting for Changes in the U.S. Budget Deficit (with Michael Redmond), Federal Reserve Bank of Kansas City Economic Review, Fourth Quarter 2014.
  • Consumer Debt Dynamics: An Update (with John Carter Braxton), Federal Reserve Bank of Kansas City The Macro Bulletin, February 2014.
  • Global Dimensions of Unconventional Monetary Policy: An Introduction to the 2013 Economic Policy Symposium, Federal Reserve Bank of Kansas City, Symposium Proceedings, Jackson Hole, Wyo. August 2013.
  • The Shadow Labor Supply and Its Implications for the Unemployment Rate (with Jose Mustre-del-Rio), Federal Reserve Bank of Kansas City Economic Review, Third Quarter 2013.
  • The Changing Policy Landscape - An Introduction to the 2012 Economic Policy Symposium, Federal Reserve Bank of Kansas City, Symposium Proceedings, Jackson Hole, Wyo. August 2012.
  • What is the Effect of Financial Stress on Economic Activity? (with Craig Hakkio), Federal Reserve Bank of Kansas City Economic Review, Second Quarter 2010.
  • Detecting Recessions in the Great Moderation: A Real-Time Analysis, Federal Reserve Bank of Kansas City Economic Review, Fourth Quarter 2008.
  • Middle-Income Tax Rates: Trends and Prospects (with C. Alan Garner), Federal Reserve Bank of Kansas City Economic Review, Fourth Quarter 2006.