Working Papers

1. A Quantitative Analysis of Interest on Reserves and Reserve Requirements

2. Optimal Monetary Policy with Behavioral Consumers (with Marco Airaudo and Mikheil Dvalishvili) [Submitted]

3. Nominal GDP Growth Rate Targeting vs. Taylor Rule: Implications for Welfare and Macro-financial Stability (with Thom Thurston and Mikheil Dvalishvili) [Revise and Resubmit]

4. Downward Wage Rigidity, Credit Frictions, and Macroeconomic Dynamics (with Mikheil Dvalishvili).

5. Assessing the Taylor-Type Interest Rate Rules (with Thom Thurston and Mikheil Dvalishvili).

6. On the Desirability of Flexible Exchange Rate Targeting (with Mikheil Dvalishvili)

Works in Progress

1. Model with Collateral Constraint and Persistent Lending Relationships (with María Pía Olivero and Mikheil Dvalishvili)

2. Lending Relationships, Financial Distress, and Macroeconomic Dynamics (with Mikheil Dvalishvili)

3. Heterogeneous Bank Lending Cost and Monetary Policy Transmission (with Mikheil Dvalishvili)