Published Journal Articles

Last Updated 18-02-08  

  1. “Factor Analysis in a New Keynesian Model.” Joint with Andres Beyer, Jerome Henry and Massimiliano Marcellino. The Econometrics Journal (2008, forthcoming).

  2. “Aggregate Demand and Supply.” International Journal of Economic Theory, 4, 2008, pp 77-93.

  3. “On the Indeterminacy of Determinacy and Indeterminacy: Comments on the paper “Testing for Indeterminacy” by Thomas Lubik and Frank Schorfheide”.  Joint with Andreas Beyer. American Economic Review, 97(1) 2007, pp. 524-529. 

  4. “Animal Spirits”, entry in The New Palgrave Dictionary of Economics, 2nd ed., ed. L. Blume and S. Durlauf, Palgrave Macmillan, (2007 forthcoming).

  5. “What we Don't Know about the Monetary Transmission Mechanism and why we Don't Know it”  joint with Andreas Beyer.  Macroeconomic Dynamics, 12, S1, 2008 pp 60-74 ). The MATLAB™ code for this paper can be found HERE.

  6. “Old World Econometrics and New World Theory” in Post Walrasian Macroeconomics: Beyond the Dynamic Stochastic General Equilibrium Model, David Colander (ed.) Cambridge University Press, Cambridge, 2006.

  7. “Economic Growth in an Interdependent World Economy”,  joint with Amartya Lahiri. Economic Journal, 116, 2006, pp. 969-990..

  8. “Natural Rate Doubts”, joint with Andreas Beyer, Journal of Economic Dynamics and Control, 31, 2007, pp. 797-825.

  9. “Recursive Preferences and Balanced Growth”, joint with Amartya Lahiri, Journal of Economic Theory, 125(1) 2006,  pp. 61-77.
     

  10. “A Two-Country Model of Endogenous Growth”,  joint with Amartya Lahiri, Review of Economic Dynamics, Volume 8, Issue 1, 2005, Pages 68-88.
     

  11. “Why Does Data Reject the Lucas Critique?” Annales d’économie et de statistique special issue on “The Econometrics of Policy Evaluation”, 67-68, 2003. (This paper combines two working papers, “Learning and Macroeconomics” and “Rational Inertia”.)
     

  12. “The Monetary Transmission Mechanism”, joint with Jess Benhabib, Review of Economic Dynamics Vol. 3, 2000, 523–550.
     

  13. “Indeterminacy with Non-Separable Utility”, joint with Rosalind Bennett, Journal of Economic Theory Vol. 93, 2000, 118–143.
     

  14. “Two New Keynesian Theories of Sticky Prices”, Macroeconomic Dynamics, 4, (2000), 1-34.
     

  15. “Reply to: Analyzing Indeterminacies in a Real Business Cycle Model with Money: by Kiril A. Sossounov”, Journal of Money Credit and Banking, Vol. 32, No. 2 (May 2000).
     

  16. “Indeterminacy and Sunspots in Macroeconomics”, joint with Jess Benhabib, in The Handbook of Macroeconomics, John Taylor and Michael Woodford, eds., North Holland, 1999.
     

  17. “Money in a Real Business Cycle Model”, Journal of Money Credit and Banking, November 1997.
     

  18. “Self–Fulfilling Prophecies and the Business Cycle,” co–authored with Michael Woodford. Macroeconomic Dynamics. Vol. 1 no. 4, 1997, 740–769.
     

  19. “A Theory of Business Cycles”, Finnish Economic Papers Vol. 9 no. 2 1996b.
     

  20. “Indeterminacies and Sector Specific Externalities”, co-authored with Jess Benhabib, Journal of Monetary Economics, 37 no. 3 June 1996a, 421– 444.
     

  21. “The Econometrics of Indeterminacy”, joint with Jang Ting Guo, The Carnegie Rochester Conference Series on Public Policy, Vol. 43, June 1995, 225–272.
     

  22. “Real Business Cycles and the Animal Spirits Hypothesis,” co-authored with Jang Ting Guo Journal of Economic Theory, Vol. 63 no. 1, June 1994b, 42–72.
     

  23. “Indeterminacy and Increasing Returns”, co-authored with Jess Benhabib, Journal of Economic Theory, Vol. 63 no. 1, June 1994a, 19–41.
     

  24. “Testing the Lucas Critique: a Review” Comment. Econometric Reviews, 1992, 11(3), 265–306.
     

  25. “Nominal Price Stickiness as a Rational Expectations Equilibrium,” Journal of Economic Dynamics and Control, 16, 1992, pp. 317–337.
     

  26. “Sticky Prices,” Economic Journal, vol. 101, no. 409, November 1991, 1369–1379. 1991.
     

  27.  “The Lucas Critique, Policy Invariance and Multiple Equilibria” Review of Economic Studies, April 1991.
     

  28.  “RINCE Preferences,” Quarterly Journal of Economics, February 1990, pp. 43-60.
     

  29. “AIL Theory and the Ailing Phillips Curve: a Contract Based Approach to Aggregate Supply,” in Asymmetric Information, Corporate Finance and Investment, R. Glenn Hubbard, ed., 1990, University of Chicago Press.
     

  30.  “What is a Liquidity Crisis,” Journal of Economic Theory, vol. 46 # 1, 1988 pp. 1–15.
     

  31. “Money and Contracts,” Review of Economic Studies, vol. 55, 1988 pp. 431–446.
     

  32. “Profecias que se Autorrealizan y el Ciclo Economico,” co–authored with Michael Woodford, Cuadernos Economicos de ICE, vol. 35 # 1, 1987 pp. 129–160. (Spanish Translation of “Self-Fulfilling Prophecies and the Business Cycle,” cited above.)
     

  33. “The Role of Options in the Resolution of Agency Problems,” co–authored with Ralph A. Winter, The Journal of Finance, vol. 41 # 5, 1986 pp. 1157–1170.
     

  34. “Deficits and Cycles,” Journal of Economic Theory, vol. 40 #1, 1986 pp. 77–88.
     

  35. “Implicit Contracts with Asymmetric Information and Bankruptcy; the Effect of Interest Rates on Layoffs,” Review of Economic Studies, vol. 52, 1985, pp. 427–442.
     

  36. “Bursting Bubbles: A Note On the Rationality of Hyperinflation in Optimizing Models,” Journal of Monetary Economics, 14, 1984 pp. 29–35.
     

  37. “A New Theory of Aggregate Supply,” American Economic Review, vol. 74 # 5, 1984 pp. 920–929.
     

  38. "Unemployment, Bankruptcy and Asymmetric Information," The Manchester School of Economic and Social Studies, vol. 52 # 3, 1984 pp. 284–291.