Research

Forward Guidance

Forward Guidance and the Dynamics of Bank Credit

Slides

Government Debt

Government Debt and the Transmission of Monetary Policy to Credit

Fiscal Theory

Fiscal Theory of Monetary Policy with Financial Frictions and Long-Term Debt

Slides

A Model of Risk Shocks and Treasury Convenience Yield

(Model Setup): Global Flights to Safety: An Analysis of the Dollar Liquidity Premium and Cross-border Capital Flows