Working Papers

“Revising the European Fiscal Framework” (with Francesco Giavazzi, Guido Lorenzoni, Charles-Henri Weymuller), December 2021

“The End of the American Dream? Inequality and Segregation in US Cities” (with Alessandra Fogli and Mark Ponder), 2023, mimeo

Publications

“The Art and Science of Patience: Relative Prices and Inflation” (with Michala Marcussen, Lucrezia Reichlin, and Silvana Tenreyro), Geneva Reports on the World Economy 26, CEPR Press, 2023

“The Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?” (with Guido Lorenzoni, Ludwig Straub, and Ivan Werning) , American Economic Review, 2022, 112(5), 1437-74

“Monetary Policy in Times of Structural Reallocation” (with Guido Lorenzoni, Ludwig Straub, and Ivan Werning), September 2021, Proceedings of the 2021 Jackson Hole Symposium

“Households Slow Deleveraging” (with Guido Lorenzoni and Marta Prato), Journal of the European Economic Association, Forthcoming.

“Directed Search and Competitive Search: A Guided Tour” (with Randall Wright, Philipp Kircher, and Benoit Julien), Journal of Economic Literature, Forthcoming

“Markets with Multidimensional Private Information” (with Robert Shimer), American Economic Journal: Microeconomics, 2018, 85 (3), 1502-1542

“House Prices and Consumer Spending” (with David Berger, Guido Lorenzoni, and Joseph Vavra), Review of Economic Studies, 2018, 10 (2), 250-74

“Credit Crises, Precautionary Savings and the Liquidity Trap” (with Guido Lorenzoni), Quarterly Journal of Economics, August 2017, 132(3), 1427-1467
Online Appendix

“Housing and Credit Markets: Booms and Busts” with Harald Uhlig, Handbook of Macroeconomics Vol. 2B, 2016, p. 1427-1496

“Dynamic Adverse Selection: A Theory of Illiquidity, Fire Sales, and Flight to Quality” (with Robert Shimer), American Economic Review, 2014, 104 (7), 1875-1908 (lead article)

“Endogenous Gentrification and Housing Price Dynamics” (with Daniel Hartley and Erik Hurst), Journal of Public Economics, 2013, 100, 45-60
Online Appendix

“Fund Managers, Career Concerns, and Asset Price Volatility” (with Peter Kondor), American Economic Review, 2012, 102 (5), 1986-2017

“Within-city Variation in Urban Decline: The Case of Detroit” (with Daniel Hartley and Erik Hurst), American Economic Review Papers and Proceedings, 2012, 120-126

“Adverse Selection in Competitive Search Equilibrium” (with Robert Shimer and Randall Wright), Econometrica, 2010, 78 (6), 1823-1862

“Liquidity and Trading Dynamics”(with Guido Lorenzoni), Econometrica, 2009, 77 (6), 1751-1790

“Inefficient Unemployment Dynamics under Asymmetric Information”, Journal of Political Economy, 2008, 116 (4), 667-708

“Capital Deepening and Non-Balanced Economic Growth” (with Daron Acemoglu), Journal of Political Economy, 2008, 116 (3), 467-498
Additional Appendix

“Heterogeneity and Unemployment Volatility”, The Scandinavian Journal of Economics, Special Issue on “Macroeconomic Fluctuations and Labor Market”, 2007, 109, No. 4, 667-693

Other Papers

“Liquidity and Trading Dynamics” (with Guido Lorenzoni) OLD VERSION
August 2008 NBER Working Paper No. w13204

“Capital Deepening and Non-Balanced Economic Growth” (with Daron Acemoglu) OLD VERSION
August 2006, NBER Working Paper No. w12475

“Efficiency of Competitive Search under Asymmetric Information” (OLD VERSION of “Inefficient Unemployment Dynamics under Asymmetric Information“)
December 2005

“Note on Efficiency of Competitive Search under Asymmetric Information: a Two-Period Example”
October 2006