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Working
papers
The Drivers of Post-Pandemic Inflation (with Domenico Giannone), July 2024. Inequality and Business Cycles (with Florin Bilbiie and Andrea Tambalotti), May 2022. This version: June 2024. Macroeconomic Forecasting in the Time of COVID-19 (with Andrea Tambalotti), June 2020. Replication codes What's up with the Inflation and the Business Cycle after the COVID-19 Shock? (with Marco Del Negro, Michele Lenza and Andrea Tambalotti), June 2020. Intertemporal Disturbances (with Ernst Schaumburg and Andrea Tambalotti), October 2005. This version: April 2006 Also available as NBER working paper No. 12243 Inequality over the Business Cycle: Estimating Income Risk using Micro-Data on Consumption (with Thijs van Rens), July 2002 Publications How to Estimate a VAR after March 2020 (with Michele Lenza) Journal of Applied Econometrics, 37(4), June/July 2022, pp 688-699. Replication codes The Mortgage Rate Conundrum (with Alejandro Justiniano and Andrea Tambalotti) Journal of Political Economy, 130(1), January 2022, pp. 121-156. Economic Predictions with Big Data: The Illusion of Sparsity (with Domenico Giannone and Michele Lenza) Econometrica, 89(5), September 2021, pp. 2409-2437. Online appendix Main estimation function What's up with the Phillips Curve? (with Marco Del Negro, Michele Lenza and Andrea Tambalotti) Brookings Papers on Economic Activity, Spring 2020, pp. 301-357. Replication codes What's up with the Inflation and the Business Cycle after the COVID-19 Shock? Credit Supply and the Housing Boom (with Alejandro Justiniano and Andrea Tambalotti) Journal of Political Economy, Online appendix Priors for the Long Run (with Domenico Giannone and Michele Lenza) Journal of the American Statistical Association, 114:526, 2019, pp. 565-580. Online appendix Replication codes Comments on "A Unified Approach to Measuring u*" Brookings Papers on Economic Activity, Spring 2019, pp. 223-230. A Simple Model of Subprime Borrowers and Credit Growth (with Alejandro Justiniano and Andrea Tambalotti) American Economic Review Papers and Proceedings, 106(5), May 2016, pp. 543-547. Longer version Also available as NBER working paper No. 21942 and CEPR discussion paper No. 11083 Time Varying Structural Vector Autoregressions and Monetary Policy: A Corrigendum (with Marco Del Negro) The Review of Economic Studies, 82(4), October 2015, pp. 1342-1345. Appendix Prior Selection for Vector Autoregressions (with Domenico Giannone and Michele Lenza) Review of Economics and Statistics, 97(2), May 2015, pp. 412-435. Older versions available as NBER working paper No. 18467 and CEPR discussion paper No. 8755 Estimation codes Household Leveraging and Deleveraging (with Alejandro Justiniano and Andrea Tambalotti) Review of Economic Dynamics, 18(1), January 2015, pp. 3-20. Also available as NBER working paper No. 18941 The Effects of the Saving and Banking Glut on the U.S. Economy (with Alejandro Justiniano and Andrea Tambalotti) Journal of International Economics, 92, Supplement 1, April 2014, pp. S52-S67. Older versions available as CEPR discussion paper No. 9729 or NBER working paper No. 19635 Comment of "Non-Inflationary Demand Driven Business Cycles," by Beaudry and Portier NBER Macroeconomics Annual 2013, pp. 131-143. Is There a Trade-Off Between Inflation and Output Stabilization? (with Alejandro Justiniano and Andrea Tambalotti) American Economic Journal: Macroeconomics, 5(2), April 2013, pp. 1-31. Older versions available as CEPR discussion paper No. 8407 or NBER working paper No. 17071 This paper is a substantially revised and extended version of an earlier paper titled Potential and Natural Output Investment Shocks and the Relative Price of Investment (with Alejandro Justiniano and Andrea Tambalotti) Review of Economic Dynamics, 14(1), January 2011, pp. 101-121. Older version available as CEPR discussion paper No. 7597 Learning the Wealth of Nations (with Paco Buera and Alex Monge) Econometrica, 79(1), January 2011, pp.1-46. Older version available as NBER working paper No. 14595 Investment Shocks and Business Cycles (with Alejandro Justiniano and Andrea Tambalotti) Journal of Monetary Economics, 57(2), March 2010, pp. 132-145 Technical Appendix MATLAB code for the model solution Older versions available as CEPR discussion paper No. 6739 or NBER working paper No. 15570 Measuring the Equilibrium Real Interest Rate (with Alejandro Justiniano) Federal Reserve Bank of Chicago Economic Perspectives, 34(1), 1st quarter 2010, pp. 14-27 Inflation-Gap Persistence in the U.S. (with Timothy Cogley and Thomas J. Sargent) American Economic Journal: Macroeconomics, 2(1), January 2010, pp. 43-69 Technical appendix Longer version available as NBER working paper No. 13749 Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality (with Thijs van Rens) Journal of Monetary Economics, 56(1), January 2009, pp. 20-39 Also available as CEPR discussion paper No. 5881 The Time Varying Volatility of Macroeconomic Fluctuations (with Alejandro Justiniano) The American Economic Review, 98(3), June 2008, pp. 604-641 NBER working paper No. 12022 (January 2006 version) Why Inflation Rose and Fell: Policymakers' Beliefs and US Postwar Stabilization Policy The Quarterly Journal of Economics, 121, August 2006, pp. 867-901 Technical appendix Longer version (February 2005) NBER working paper No. 11147 Comments on “Monetary Policy under Uncertainty,” by Levin, Onatski, Williams and Williams NBER Macroeconomics Annual 2005, pp. 289-296 Time Varying Structural Vector Autoregressions and Monetary Policy The Review of Economic Studies, 72, July 2005, pp. 821-852 Corrigendum (with Marco Del Negro), April 2013. This version: February 2015 Forthcoming, Review of Economic Studies Appendix to the corrigendum Debt Maturity and the Reaction and Performance of Monetary Policy (with Carlo Favero and Alessandro Missale), in Alec Chrystal (ed.) Debt Structure and Monetary Conditions, 103-124, Bank of England and Mac Millan Press, 1999 |
