Working Papers Firm Uncertainty Cycles and the Propagation of Nominal Shocks (with Julio A. Blanco) PaperOnline AppendixSlides Heterogenous firm uncertainty is a key determinant of aggregate price flexibility and it amplifies the real effects of monetary shocks. *Previously circulated as Learning to Price.
Turbulence and Unemployment in Matching Models (with Lars Ljungqvist & Thomas Sargent) Paper When workers are exposed to the risk of skill obsolescence after a layoff or a voluntary quit, large unemployment benefits create more and longer unemployment.
Might Uncertainty Encourage International Trade? (with Laura Velkamp & Michael Waugh) PaperSlides If agents are risk averse and prudent, then asymmetric information between countries increases trade. *Previously circulated as Information Globalization, Risk Sharing, and International Trade.
Work in Progress
Global Uncertainty Factors and Bond Markets (with Felix Matthys) Coming soon! Bond yields are affected by global and country level economic uncertainty factors.
Price Duration and Passthrough (with Federico Kochen and Daniel Sámano) Preliminary Draft Exchange rate passthrough is larger for products with young (recently set) prices.