Forthcoming Publications

"Domestic Policies and Sovereign Default"
with  Emilio Espino, Julian Kozlowski, and Juan M. Sánchez
American Economic Journal-Macroeconomics

Journal Publications

"Welfare-enhancing inflation and liquidity premia"
with David Andolfatto
Review of Economic Dynamics, Vol. 51, pp. 1036-1047
Working Paper
https://doi.org/10.1016/j.red.2023.09.007

"Money, Banking and Financial Markets"
with David Andolfatto and Aleksander Berentsen
Review of Economic Studies, October 2020, Vol. 87, No. 5, pp. 2049-86
Working Paper

"Markov-Perfect Risk Sharing, Moral Hazard and Limited Commitment"
with  Alexander K. Karaivanov
Journal of Economic Dynamics & Control, September 2018, Vol. 94, pp. 1-23
Working Paper
https://doi.org/10.1016/j.jedc.2018.06.007

"Monetary Policy and Liquid Government Debt"
with David Andolfatto
Journal of Economic Dynamics & Control, April 2018, Vol. 89, pp. 183-199
Working Paper
https://doi.org/10.1016/j.jedc.2018.01.037

"Rehypothecation and Liquidity"
with David Andolfatto and  Shengxing Zhang
European Economic Review, November 2017, Vol. 100, pp. 488-505
Working Paper
https://doi.org/10.1016/j.euroecorev.2017.09.010

"Policy and Welfare Effects of Within-Period Commitment"
Macroeconomic Dynamics, October 2015, Vol. 19, No. 07, pp. 1401-1426
Working Paper
https://doi.org/10.1017/s1365100513000886

"Debt, Inflation and Central Bank Independence"
European Economic Review, October 2015, Vol. 79, pp. 129-150
Working Paper
https://doi.org/10.1016/j.euroecorev.2015.07.009

"Dynamic Optimal Insurance and Lack of Commitment"
with  Alexander K. Karaivanov
Review of Economic Dynamics, April 2015, Vol. 18, No. 2, pp. 287-305
Working Paper
https://doi.org/10.1016/j.red.2014.05.001

"Information Disclosure and Exchange Media"
with David Andolfatto
Review of Economic Dynamics, July 2013, Vol. 16, No. 3, pp. 527-539
Working Paper

"Government Policy in Monetary Economies"
International Economic Review, February 2013, Vol. 54, No. 1, pp. 185-217
Working Paper
https://doi.org/10.1111/j.1468-2354.2012.00730.x

"Government Policy Response to War-Expenditure Shocks"
B E Journal of Macroeconomics, July 2012, Vol. 12, No. 1, pp. 2011-2028
Working Paper
https://doi.org/10.1515/1935-1690.2151

"On the Joint Determination of Fiscal and Monetary Policy"
Journal of Monetary Economics, 2011, Vol. 58, No. 2, pp. 132-45
https://doi.org/10.1016/j.jmoneco.2011.02.001

"Markov-Perfect Capital and Labor Taxes"
Journal of Economic Dynamics & Control, 2010, Vol. 34, No. 3, pp. 503-521
https://doi.org/10.1016/j.jedc.2009.10.006

"A Positive Theory of Government Debt"
Review of Economic Dynamics, 2009, Vol. 12, No. 4, pp. 608-631
https://doi.org/10.1016/j.red.2009.02.003