Research Summary   (A brief overview of selected research papers.)

Macroeconomic Transitions

 • Financial Frictions and the Persistence of History, with F. Buera, September 2010. (Also available as NBER Working Paper No. 16400.)

 • Productivity Growth and Capital Flows: The Dynamics of Reforms, with F. Buera, December 2011.

 • Well-Intended Policies, with F. Buera and B. Moll, September 2011.

Aggregate and Distributional Impact of Financial Development

 • Finance and Development: A Tale of Two Sectors, with F. Buera and J. Kaboski, The American Economic Review, August 2011.

 • The Macroeconomics of Microfinance, with F. Buera and J. Kaboski, February 2012. (Also available as NBER Working Paper No. 17905.)

 • Self-Insurance vs. Self-Financing: A Welfare Analysis of the Persistence of Shocks, with F. Buera, Journal of Economic Theory, May 2011.

Human Capital and Labor Supply

 • Lifetime Labor Supply and Human Capital Investment, with R. Manuelli and A. Seshadri, January 2012. (Also available as St. Louis Fed Working Paper No. 2012-004A.)

 • Option Value of Human Capital and the Narrowing Gender Gap in Labor Markets, with D. Lee. (A preliminary version is available upon request.)

Fiscal Policy

 • Managing the Maturity Structure of Government Debt, Journal of Monetary Economics, September 2007.

 • Ramsey Meets Bewley: Optimal Government Financing with Incomplete Markets. (Under major revision. An earlier version is available upon request.)

 • Does Transparency Pay? with R. Glennerster, IMF Staff Papers, April 2008.

Estimation of Dynamic Models

 • Estimation of Dynamic Models with Nonparametric Simulated Maximum Likelihood, with D. Kristensen, Journal of Econometrics, March 2012.

 • Smooth Filtering and Likelihood Inference in Dynamic Latent Variables Models, with C. Brownlees and D. Kristensen. (A preliminary version is available upon request.)