New papers & updates
Forward Guidance without Common Knowledge (forthcoming in AER). Lack of CK rationalizes myopia vis-a-vis long horizons and attenuates GE effects; application to forward guidance and fiscal stimuli. [slides]
Frictional Coordination (forthcoming in JEEA). Synthesizes my research on expectations and business cycles.
Optimal Monetary Policy with Informational Frictions (R&R in JPE). Minimizing price distortions requires leaning against the wind. [slides]