Research
Published Papers
- “Inflation and Unemployment in the Long Run Revisited” (2026), joint with Michael Choi, Sebastien Lotz, and Guillaume Rocheteau. accepted at the Economic Journal
- “Unemployment and the Distribution of Liquidity” (2023), joint with Guillaume Rocheteau. Journal of Political Economy: Macroeconomics
[Working paper version] [Published version] [Supplementary Appendix]
- “An Information-based Theory of Financial Intermediation” (2022), joint with Bruno Sultanum and Nicholas Trachter. Review of Economic Studies
- “Lending Relationships and Optimal Monetary Policy” (2022), joint with Guillaume Rocheteau, Tsz-Nga (Russell) Wong, and Cathy Zhang. Review of Economic Studies
- “Frictional Goods Markets: Theory and Applications” (2020), joint with Michael Choi and Randall Wright. Review of Economic Studies
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“COVID-19 Infection Externalities: Trading Off Lives versus Livelihoods” (2020), joint with Anton Korinek. COVID Economics [NBER WP] [Published Version] [VoxEU Non-technical]
- “Asset Issuance in Over-the-Counter Markets” (2019), joint with Bruno Sultanum and Nicholas Trachter. Review of Economic Dynamics
- “Indeterminacy in Credit Economies” (2018), joint with Guillaume Rocheteau and Tai-Wei Hu. Journal of Economic Theory
- “Optimal Credit Fluctuations” (2018), joint with Guillaume Rocheteau and Tai-Wei Hu. Review of Economic Dynamics
[Working paper version] [Published version] [Supplementary Appendix]
- “Aggregate Unemployment and Household Unsecured Debt” (2015), joint with Guillaume Rocheteau and Peter Rupert. Review of Economic Dynamics
Working Papers
- “Consumer Credit Regulation and Lender Market Power”, joint with Joaquin Saldain and Eric Young.
R&R at the Journal of Political Economy: Macroeconomics [PDF]
- “Consumer Search, Market Power, and the Distributional Effects of Inflation”, joint with Shihan Shen.
[PDF]
Work in Progress
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“Optimal Central Bank Balance Sheets with Incomplete Markets”
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“A Theory of Money and Banking”, joint with Thomas Brzustowski and Bruno Sultanum
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“Monetary Policy Implementation and Treasury Market Liquidity”, joint with Nicole Fleskes
Other Work or Dormant Papers
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“Inefficiency in a Simple Model of Production and Bilateral Trade” (2018), joint with Bruno Sultanum and Nicholas Trachter. Federal Reserve Bank of Richmond Economic Quarterly
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“Private Information in Over-the-Counter Markets” (2016), joint with Bruno Sultanum and Nicholas Trachter.
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“Consumer Credit, Unemployment, and Aggregate Labor Market Dynamics” (2015). [PDF]
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“Dynamic Indeterminacy and Welfare in Credit Economies” (2014), joint with Guillaume Rocheteau and Tai-Wei Hu. Older working paper that was split into “Optimal Credit Fluctuations” and “Indeterminacy in Credit Economies”