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Working Papers

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International Trade

Neoclassical Growth in an Interdependent World

The authors generalize the closed-economy neoclassical growth model (CNGM) to allow for costly goods trade and capital flows with imperfect substitutability between countries.

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Finance

Exchange Rates, Natural Rates, and the Price of Risk

Rohan KekreMoritz Lenel
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Asset Pricing

Asset Pricing, Participation Constraints, and Inequality

Goutham GopalakrishnaZhouzhou GuJonathan Payne
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Finance

Asset Demand of U.S. Households

Xavier GabaixRalph S. J. KoijenFederico MainardiSangmin OhMotohiro Yogo
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Finance

The High Frequency Effects of Dollar Swap Lines

Rohan KekreMoritz Lenel
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Finance

Tail Risk and Asset Prices in the Short-term

Caio AlmeidaGustavo FreireRené GarciaRodrigo Hizmeri
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Finance

Demand in the Option Market and the Pricing Kernel

Caio AlmeidaGustavo Freire
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Finance

Which (Nonlinear) Factor Models?

Caio AlmeidaGustavo Freire
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Monetary Economics

Monetary Policy, Segmentation, and the Term Structure

Rohan KekreMoritz LenelFederico Mainardi
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Finance

Platforms, Tokens, and Interoperability

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Finance

Strategic Money and Credit Ledgers

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Macroeconomics

Deep Learning Solutions to Master Equations for Continuous Time Heterogeneous Agent Macroeconomic Models

Zhouzhou GuMathieu LaurièreSebastian MerkelJonathan Payne
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Finance

Asset Transfers and Self-Fulfilling Runs

Jonathan PayneJoshua Weiss
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Finance

Asset Embeddings

Xavier GabaixRalph S.J. KoijenMotohiro Yogo
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Finance

Data Sales and Data Dilution

Ernest LiuSong MaLaura Veldkamp
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Innovation

Innovation Networks and R&D Allocation

Ernest LiuSong Ma
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Finance

Estimating Historical Yield Curves With Sparse Data

Jonathan PayneBálint SzőkeGeorge HallThomas J. Sargent
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Spatial Economics

The Linear Algebra of Economic Geography Models

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Finance

Costs of Financing US Federal Debt Under a Gold Standard: 1791-1933

George HallJonathan PayneThomas J. SargentBálint Szőke
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Macroeconomics

Lemon Cycles

Feng DongErnest Liu
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Finance

The Flight to Safety and International Risk Sharing

Rohan KekreMoritz Lenel
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