Research
Working papers
The Great Transition: a Revisit under Price Stickiness Heterogeneity and Input-Output Linkages, with Jae Won Lee (coming soon!)
Macroeconomic Effects of Capital Tax Rate Changes, with Saroj Bhattarai, Jae Won Lee and Choongryul Yang
Solving Reduced-form Linear Rational Expectations Models, with Jae Won Lee
The Perils of Tracking r-Star, with Saroj Bhattarai and Jae Won Lee
Evaluation of DSGE Models: With an Application to a Two-Country DSGE Model
Publications
Price Stickiness Heterogeneity and Equilibrium Determinacy, with Jae Won Lee, forthcoming, JMCB
System Reduction of Dynamic Stochastic General Equilibrium Models Solved by gensys, with Jae Won Lee, 2021. Economics Letters, 199.
Effects of the US Quantitative Easing on Emerging Market Economies, with Saroj Bhattarai and Arpita Chatterjee, 2021. Journal of Economic Dynamics and Control, 122.
A previous version released as FRB Dallas Working Paper No. 255 and CAMA Working Paper No. 47/2015
Featured in the Hutchins Roundup at Brookings
Sectoral Price Facts in a Sticky-Price Model, with Carlos Carvalho and Jae Won Lee, 2021. American Economic Journal: Macroeconomics, 13.
Global Spillover Effects of US Uncertainty, with Saroj Bhattarai and Arpita Chatterjee, 2020. Journal of Monetary Economics, 114.
Figures 7-10 have incorrect caption and notes: errata
Policy Regimes, Policy Shifts, and U.S. Business Cycles, with Saroj Bhattarai and Jae Won Lee. 2016. Review of Economics and Statistics, 98(5).
Program codes and datasets are available at the journal repository
An earlier version available as FRB Dallas Working Paper No. 109
Optimal Monetary Policy in a Currency Union with Interest Rate Spreads with Saroj Bhattarai and Jae Won Lee. 2015. Journal of International Economics, 96.
Reprinted in Honohan, P. et al Eds., Currency Unions, The International Library of Critical Writings in Economics Series, Volume I, 2020.
An earlier version released as FRB Dallas Working Paper No. 150
Price Indexation, Habit Formation, and the Generalized Taylor Principle with Saroj Bhattarai and Jae Won Lee. 2014. Journal of Economic Dynamics and Control, 48.
An earlier version released as CAMA Working Paper 52/2013 and FRB Dallas Working Paper No. 152
Inflation Dynamics: The Role of Public Debt and Policy Regimes with Saroj Bhattarai and Jae Won Lee. 2014. Journal of Monetary Economics, 67.
Earlier versions available as CAMA Working Paper 75/2013 and FRB Dallas Working Paper No. 124
Monetary-Fiscal Policy Interactions and Indeterminacy in Postwar U.S. Data with Saroj Bhattarai and Jae Won Lee. 2012. American Economic Review: Papers & Proceedings, 102(3).
Work in Progress
Yield Curve and Monetary Policy Expectations in Small Open Economies with Kwan Soo Bong and Taeyoung Doh