Scholarly Works - Scholarly editions
Scholarly edition
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September 1, 2018
This paper studies the business- cycle dynamics of secondary markets for physical capital and their effects on the macroeconomy. In the data, both capital reallocation and the price of used capital are procyclical. To rationalize these facts, I propose a m ...
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Scholarly edition
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June 1, 2018
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Scholarly edition
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2017
This paper studies the role of capital specificity and investment
irreversibility on the distribution of marginal products of capital and
aggregate TFP. We use a methodology new to the misallocation literature,
based on the study of “mobility” across qu ...
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Scholarly edition
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September 26, 2016
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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. ...
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Scholarly edition
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2014
This paper studies optimal policy in models with multidimensional
uncertainty and endogenous observables. We first consider a
very general setup where the policy-maker does not observe the realisations of
the shocks that hit the economy, but only some aggr ...
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