International Bewley Banks
(forthcoming)
Memory Decay and Determinacy
(forthcoming)
Unconventional Policy in a Low Interest Rate Environment
(forthcoming)
Commodity Currency Crashes and Risk Premia
(forthcoming)
It is Taxing to be Coherent
Without relaxing the assumptions of full information and rational expectations, we show that appropriate fiscal targeting rules ensure that New Keynesian models subject to the ZLB possess a unique solution.
CBDCs, Financial Inclusion, and Optimal Monetary Policy
We use a New Keynesian DSGE model to explore the financial inclusion tradeoffs of extending a retail-indirect CBDC to the unbanked, as well as optimal monetary considerations.
Cryptocurrencies in Emerging Markets: A Stablecoin Solution?
We study the macroeconomic effects of introducing cryptocurrencies in a workhorse small open economy model. Cryptocurrency adoption attenuates both domestic and foreign monetary policy transmission, and flexible exchange rates provide an effective buffer against cryptocurrency price shocks. Our findings motivate the increasing use of stablecoins in emerging markets as a hedge against macroeconomic uncertainty.
Gone with the Wind: Monetary Policy and the Global Financial Cycle
Using a SOE NK model with an international banking sector, I explore the validity of the trilemma-dilemma debate and global financial cycles. I then use data from South Korea to estimate the model with Bayesian methods.
Japanese Real Interest Rates over the Life-Cycle
We use an OTANK model to explore the relationship between productivity, demographic shifts, and interest rates in Japan for the post-bubble era.