Scholarly Works - Scholarly editions
Scholarly edition
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January 1, 2021
We argue that information accumulation provides a quantitatively successful propagation mechanism that challenges and empirically improves on the conventional New Keynesian models with many nominal and real rigidities. In particular, we build a tractable h ...
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Scholarly edition
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September 1, 2020
We propose a new theory of price rigidity based on firms' Knightian uncertainty about their competitive environment. This uncertainty has two key implications. First, firms learn about the shape of their demand function from past observations of quantities ...
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Scholarly edition
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April 2017
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Scholarly edition
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July 1, 2012
High interest rate currencies tend to appreciate in the future relative to low interest rate currencies instead of depreciating as uncovered interest parity (UIP) predicts. I construct a model of exchange rate determination in which ambiguity-averse agents ...
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Scholarly edition
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September 24, 2010
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