Scholarly edition · September 26, 2016
Featured Publication
This paper studies optimal policy with partial information in a general setup where observed signals are endogenous to policy. In this case, signal extraction about the state of the economy cannot be separated from the determination of the optimal policy. ...
Open AccessCite
Journal articleEconomic Research Initiatives at Duke (ERID) · January 17, 2016
Featured Publication
Capital reallocation is procyclical in the data, but countercyclical in standard business-cycle models. To solve this puzzle, I build a model of endogenous partial irreversibility, with heterogeneous firms facing aggregate and idiosyncratic productivity sh ...
Cite
