Recent Unpublished Papers
Why Has the US Economy Recovered So Consistently from Every Recession in the Past 70 Years? (with Marianna Kudlyak), May 15, 2020.
Job-Finding and Job-Losing: A Comprehensive Model of Heterogeneous Individual Labor-Market Dynamics (with Marianna Kudlyak), February 16, 2019.
Using Empirical Marginal Cost to Measure Market Power in the US Economy, November 6, 2018. NBER Working Paper 25251. – Replication File -
Achieving Price Stability by Manipulating the Central Bank’s Payment on Reserves (with Ricardo Reis), May 16, 2017.
The Pervasive Importance of Tightness in Labor-Market Volatility (with Sam Schulhofer-Wohl), April 11, 2017.
The Role of the Growth of Risk-Averse Wealth in the Decline of the Safe Real Interest Rate (replaces ”Understanding the Decline in the Safe Real Interest Rate”), April 8, 2017. – Data and Calculations –
Maintaining Central-Bank Financial Stability under New-Style Central Banking (with Ricardo Reis), July 16, 2015.
What the Cyclical Response of Advertising Reveals about Markups and other Macroeconomic Wedges, April 2014 (replaces NBER Working Paper 18370). – Data and Calculations –