The views expressed on this website are mine and do not reflect the position of the Federal Reserve Bank of Richmond or the Federal Reserve System
Publications in Academic Journals
[Colored by topics: Climate Change | Bubbles | Debt | Other]
12. Bubbly Recessions, with Sid Biswas and Andrew Hanson, American Economic Journal: Macroeconomics, 12(4), 2020, pp. 33-70 [slides] [pdf] [policy brief]
11. Temperature and Growth: a Panel Analysis of the United States, with Ric Colacito and Bridget Hoffmann, Journal of Money, Credit and Banking 51 (2-3), 2019, 313-368 [slides] [pdf] [policy brief] [replication files]
Reprinted as “The Impact of Rising Temperature on U.S. Economic Growth,” Chapter 19, World Scientific Encyclopedia of Climate Change, World Scientific, 2021. Mention in policy discussions: US Congress Joint Economic Committee's report to the President, Congressional testimony. Mention in media: WSJ 2018, 2019 April & July; Bloomberg 2018 & 2019; CNN; CBS; Guardian; Business Insider; ThinkProgress; Governors' wind and solar coalition; EEA video; VoxEU; FRB-SF Economic Letter, Bank of Japan ...
Reprinted as “The Impact of Rising Temperature on U.S. Economic Growth,” Chapter 19, World Scientific Encyclopedia of Climate Change, World Scientific, 2021. Mention in policy discussions: US Congress Joint Economic Committee's report to the President, Congressional testimony. Mention in media: WSJ 2018, 2019 April & July; Bloomberg 2018 & 2019; CNN; CBS; Guardian; Business Insider; ThinkProgress; Governors' wind and solar coalition; EEA video; VoxEU; FRB-SF Economic Letter, Bank of Japan ...
10. Asset Bubbles and Global Imbalances, with Daisuke Ikeda, American Economic Journal: Macroeconomics, 11(3), 2019, pp. 209-251 [slides] [pdf] [policy briefs]
9. Regressive Welfare Effects of Housing Bubbles, with Andrew Graczyk, Macroeconomic Dynamics, 2019, pp. 1-26, doi:10.1017/S1365100519000981 [pdf]
8. Time-Varying Skewness and Real Business Cycles, with Lance Kent, Economic Quarterly, The Federal Reserve Bank of Richmond, 105(2), 2019, pp. 59-103
7. Asset Pledgeability and Endogenously Leveraged Bubbles, with Julien Bengui, Journal of Economic Theory, 177, 2018, pp. 280-314 [pdf]
6. Sovereign Debt Signals, Journal of International Economics, 2017, 104, pp. 157-165 [pdf]
5. Nominal Sovereign Debt, International Economic Review, 58 (4), 2017, pp. 1303-1316 [pdf]
4. A Model of Sovereign Debt with Private Information, Journal of Economic Dynamics and Control, 83, 2017, pp. 1-17 [pdf]
3. Bubbles, Wage Rigidity, and Persistent Recessions, with Andrew Hanson, Economic Letters, 151(2), 2017, pp. 66-70 [pdf]
2. Information, Insurance and the Sustainability of Sovereign Debt, Review of Economic Dynamics, 2016, 22, pp. 93-108 [pdf]
1. Toxic Asset Bubbles with Daisuke Ikeda, Economic Theory, 2016, 61(2), pp. 241-271 [pdf]
0. Roots of the Derivative of the Riemann-Zeta Function and of Characteristic Polynomials, with Eduardo Dueñez, David W Farmer, Sara Froehlich, C P Hughes, Francesco Mezzadri, Nonlinearity, 2010, 23(10) [pdf]
Working Papers
1. Climate Defaults and Financial Adaptation, with Felipe Schwartzman [slides]
Presentation at IMF Climate-Related Natural Disasters: Macroeconomic Effects and Policy Responses, UCLA Climate Adaptation Symposium, Cambridge University Mini-conference on Climate Change, FRB Richmond Climate Change Economics workshop, FRB Richmond Sovereign Debt Week workshop, FRB System brown bag, FRB Richmond brown bag, Osaka University ISER, FRB Board CRES
2. Extreme Weather and the Macroeconomy, with Hee Soo Kim and Christian Matthes [slides] [video] [Bank of Japan discussion (気候変動の経済学)]
Presentation at FRB Richmond, Econometric Models of Climate Change (EMCC) conference, Econometrics of Climate Energy and Resources ((EC)2) at Aarhus, King's College (Qatar Centre for Global Banking Virtual Seminar Series), IWH-CIREQ-GW Macroeconometric Workshop, Riksbank
Presentation at FRB Richmond, Econometric Models of Climate Change (EMCC) conference, Econometrics of Climate Energy and Resources ((EC)2) at Aarhus, King's College (Qatar Centre for Global Banking Virtual Seminar Series), IWH-CIREQ-GW Macroeconometric Workshop, Riksbank
3. Race and Environmental Worries, with Ranie Lin and Lala Ma [slides]
Presentation at FRB Richmond, FRB NY, AERE / CFARE
Presentation at FRB Richmond, FRB NY, AERE / CFARE
4. The Transmission of Quasi-Sovereign Default Risk: Evidence from Puerto Rico, with Ryan Leary and Anusha Chari, previously distributed as NBER Working Paper 24108 [slides]
Presentation at GIC Drexel sovereign debt conference, IMF OAP-PRI 2020, SED 2019, NBER IFM fall 2018, DebtCon 2017, FRB BOG, FRB Richmond, Georgetown University, Sao Paolo School of Economics
Presentation at GIC Drexel sovereign debt conference, IMF OAP-PRI 2020, SED 2019, NBER IFM fall 2018, DebtCon 2017, FRB BOG, FRB Richmond, Georgetown University, Sao Paolo School of Economics
5. Self-enforcing Debt Limits and Costly Default in General Equilibrium, with V. Filipe Martins-da-Rocha and Yiannis Vailakis
Presentation at FRB Richmond, Virginia Tech, Duke University Triangle Dynamic Macro workshop, University of Tokyo, University of California Santa Cruz, Santa Clara University, University of Virginia, Economics School of Louvain, Sao Paulo School of Economics, and the Canon Institute for Global Studies Macroeconomic conference
Presentation at FRB Richmond, Virginia Tech, Duke University Triangle Dynamic Macro workshop, University of Tokyo, University of California Santa Cruz, Santa Clara University, University of Virginia, Economics School of Louvain, Sao Paulo School of Economics, and the Canon Institute for Global Studies Macroeconomic conference
Ongoing Projects
1. Leveraging the Disagreement on Climate Change: Evidence and Theory, with Laura Bakkensen and Russell Tsz-Nga Wong [slides] [draft available soon]
Presentation at FRB Richmond
Presentation at FRB Richmond
2. Hurricanes and Mortality: Evidence from Microdata (tentative title), with Laura Bakkensen, Lala Ma, and Logan Blair
3. Imperfect Information and Climate Migration: Evidence from a National Field Experiment in Vietnam (tentative title), with Laura Bakkensen, Quynh Nguyen and Paul Schuler
4. Causal Effects of Historical Redlining on Exposure to Climate Risks (tentative title), with Claire Conzelmann, Jeremy Hoffman and Arianna Salazar Miranda
5. A Climate Macro Model with Financial Friction (tentative title), with Daisuke Ikeda
6. Second-Best Climate Policies (tentative title), with Nora Traum
"Science is not only a disciple of reason but also one of romance and passion" -- Stephen Hawking