In Progress:
Heterogeneity and Real Exchange Rates, with Virgiliu Midrigan.
Sticky Wages and the Great Depression, with Ellen R. McGrattan.
Real Exchange Rates With Endogenous Incomplete Markets, with Fabrizio Perri.
Unpublished Research Papers
Temporary Price Changes and the Real Effects of Monetary Policy, with Virgiliu Midrigan.
Facts and Myths about the Financial Crisis of 2008 , with V.V. Chari and Larry Christiano.
Sophisticated Monetary Policies , with Andrew Atkeson and V.V. Chari, revising for resubmission to Quarterly Journal of Economics.
The Poverty of Nations: A Quantitative Investigation, with V. V. Chari and Ellen R. McGrattan, revising for resubmission to American Economic Review. [SR 204]
Paths of Development for Early and Late Bloomers, with Andrew Atkeson, revising for resubmission to Quarterly Journal of Economics. [SR 256]
Journal Articles
The New Keynesian Models: Not Yet Useful for Policy Analysis, with V. V. Chari and Ellen R. McGrattan, forthcoming in American Economic Journal: Macroeconomics .
Time Varying Risk, Interest Rates, and Exchange Rates, joint with Fernando Alvarez and Andrew Atkeson, forthcoming in Review of Economic Studies.
On the Need for a New Approach to Monetary Policy , with Andrew Atkeson,forthcoming, NBER Macroeconomics Annual.
Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory , with V. V. Chari and Ellen R. McGrattan, Journal of Monetary Economics, November 2008.
Time Consistency and Free-Riding in a Monetary Union, with V. V. Chari, forthcoming in the Journal of Money, Credit, and Banking (2nd OSU Macroeconomics Lecture), October 2008.
On the Need for Fiscal Constraints in a Monetary Union, with V. V. Chari, Journal of Monetary Economics, November 2007.
If Exchange Rates are Random Walks Then Almost Everything We Say About Monetary Policy Is Wrong, with Fernando Alvarez and Andrew Atkeson, American Economic Review, May 2007.
Business Cycle Accounting, with V. V. Chari and Ellen McGrattan, Econometrica, May 2007.
Modeling the Transition to a New Economy: Lessons from Two Technological Revolutions, with Andrew Atkeson, American Economic Review, March 2007.
Modern Macroeconomics in Practice: How Theory Is Shaping Policy, with V. V. Chari, Journal of Economic Perspectives, Fall 2006.
Modeling and Measuring Organization Capital, with Andrew Atkeson, Journal of Political Economy, October 2005.
The Optimal Degree of Discretion in Monetary Policy, with Susan Athey and Andrew Atkeson, Econometrica, September 2005.
Sudden Stops and Output Drops, with V. V. Chari and Ellen McGrattan, American Economic Review, May 2005.
Financial Crises as Herds: Overturning the Critiques, with V. V. Chari, Journal of Economic Theory, November 2004.
Competitive Equilibria With Limited Enforcement, with Fabrizio Perri, Journal of Economic Theory, November 2004.
Deflation and Depression: Is There an Empirical Link?, with Andrew Atkeson, American Economic Review, May 2004.
The Time Consistency of Optimal Monetary and Fiscal Policies, with Fernando Alvarez and Pablo Andrés Neumeyer, Econometrica, March 2004.
