Working papers

Credit Supply and the Housing Boom
     (with Alejandro Justiniano and Andrea Tambalotti), March 2014. This version: June 2014

Household Leveraging and Deleveraging
     (with Alejandro Justiniano and Andrea Tambalotti), October 2012. This version: June 2014
     Also available as NBER working paper No. 18941

Time Varying Structural Vector Autoregressions and Monetary Policy: A Corrigendum
     (with Marco Del Negro), April 2013. This version: October 2014
     Appendix

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

Prior Selection for Vector Autoregressions
      (with Domenico Giannone and Michele Lenza)
      Forthcoming, Review of Economics and Statistics
      Older versions available as NBER working paper No. 18467 and CEPR discussion paper No. 8755
      Estimation codes

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: October 2014
     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