Working Papers

Inequality and Aggregate Demand (with Adrien Auclert)
Latest draft November 2016

What Lower Bound? Monetary Policy with Negative Interest Rates
Latest draft July 2016

Monetary Union Begets Fiscal Union (with Adrien Auclert)
Latest draft August 2014

A Note on Piketty and Diminishing Returns
June 2014

Work in Progress

Aggregate Capital-Labor Substitution: Preferences, Not Just Technology

The Intertemporal Keynesian Cross (with Adrien Auclert and Ludwig Straub)


Investment Hangover and the Great Recession (with Andrei Shleifer and Alp Simsek)
American Economic Journal: Macroeconomics, forthcoming

Aggregate Demand and the Top 1 Percent (with Adrien Auclert)
American Economic Review: Papers & Proceedings 107 (5), pp. 588-592, May 2017
[Published version]

Unique Equilibrium in the Eaton-Gersovitz Model of Sovereign Debt (with Adrien Auclert)
Journal of Monetary Economics 84, pp. 134-146, December 2016
[Published version]

Deciphering the Fall and Rise in the Net Capital Share: Accumulation or Scarcity?
Brookings Papers on Economic Activity 46 (1), pp. 1-69, Spring 2015
[Published version with comments and discussion]