For the 2017-18 academic year I will be visiting the Federal Reserve Bank of Minneapolis.

Working Papers

Optimal Automatic Stabilizers

With Ricardo Reis.

Accounting for Idiosyncratic Wage Risk Over the Business Cycle

With Tamas Papp

Published Papers

Time-Varying Idiosyncratic Risk and Aggregate Consumption Dynamics

Journal of Monetary Economics, Volume 88, June/July 2017.

Published version | Time series for idiosyncratic risk factor | Matlab replication codes

The Discounted Euler Equation: A Note

With Emi Nakamura and Jon Steinsson. Forthcoming Economica.

The Power of Forward Guidance Revisited

With Emi Nakamura and Jon Steinsson. American Economic Review, Volume 106, Issue 10, October 2016.

Published version. | Matlab replication codes.

The Role of Automatic Stabilizers in the U.S. Business Cycle

With Ricardo Reis. Econometrica, Vol. 84, No. 1, January 2016.

Published version. | Matlab codes for simplified version of the model. | Matlab replication codes.

Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model

With Filip Matejka. American Economic Review, Volume 105, Issue 1, January 2015.

Published version. | Additional appendices.

Search for Financial Returns and Social Security Privatization

Review of Economic Dynamics, Volume 16, Issue 2, April 2013.

Published version | Appendix | Programs and data

Simple Market Equilibria with Rationally Inattentive Consumers

With Filip Matejka. American Economic Review (Papers and Proceedings), Volume 102, Number 3, May 2012.

Published version

News Shocks and Business Cycles

With Per Krusell. Federal Reserve Bank of Richmond Economic Quarterly, Volume 96, Number 4, Fourth Quarter 2010.

The Brevity and Violence of Contractions and Expansions

With Ricardo Reis. Journal of Monetary Economics, Volume 55, Issue 4, May 2008.

Published version | Appendix | Programs and data