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New Papers & Updates
Managing Expectations without Rational Expectations. Optimal forward guidance when agents make mistakes in predicting, or reasoning about, the behavior of others and the GE effects of policy
Myopia and Anchoring. Incomplete information, or RI, and higher-order uncertainty equal myopia and anchoring. Reduce a gap between micro and macro. Applications to NKPC, C, and I. [slides]
Business Cycle Anatomy. A characterization of the data aimed at guiding parsimonious models [slides]
Confidence and the Propagation of Demand Shocks. A Keynesian narrative without sticky prices.
Welfare Theorems for Inattentive Economies. [draft coming soon] [slides]
Public Debt as Private Liquidity: Optimal Policy [R&R in JPE] [slides]
