Archive
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Working Paper
Working PaperTilting at Windmills: Bernanke and Blanchard’s Obsession with the Wage-Price Spiral
Apr 2024
How convincing is the model analysis by Bernanke and Blanchard? How empirically relevant are their mechanisms causing inflation – and how robust and plausible are their econometric findings?
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Working Paper
Working PaperThe Art of Paradigm Maintenance: How the ‘Science of Monetary Policy’ tries to deal with the inflation of 2021-2023
Oct 2023
The re-emergence of inflation threw the ‘science of monetary policy’ off the rails. Do the new tweaks to the theory work?
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Working Paper
Working PaperBetting on Black Gold: Oil Speculation and U.S. Inflation (2020-2022)
Jun 2023
Were the sharp increases in prices during 2020-2022 due to fundamental shifts in supply and demand or are they attributable to excessive market speculation?
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Working Paper
Working PaperMyth and Reality in the Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy
Jan 2023
A critical reappraisal of the case in favor of monetary tightening pressed by inflation hawks is overdue.
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Working Paper
Working PaperInflation in the Time of Corona and War: The Plight of the Developing Economies
Nov 2022
Fears of ‘stagflation’ have come back to haunt macroeconomic policy makers all over the globe
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Working Paper
Working PaperInflation in the Time of Corona and War
Jun 2022
Are there alternative, less socially costly, ways to bring inflation down?
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Working Paper
Working PaperAsset Prices Under Knightian Uncertainty
Dec 2021
A tractable formalization of the Knightian uncertainty faced by an economist and market participants in an intertemporal asset-price model.
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Working Paper
Working Paper SeriesThe Knightian Uncertainty Hypothesis: Unforeseeable Change and Muth’s Consistency Constraint in Modeling Aggregate Outcomes
Mar 2019
This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory.
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Working Paper
Grantee paperMacroeconomic Policy in DSGE and Agent-Based Models
Jun 2012
The Great Recession seems to be a natural experiment for macroeconomics showing the inadequacy of the predominant theoretical framework — the New Neoclassical Synthesis — grounded on the DSGE model.
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Working Paper
Grantee paperThe Making of America’s Imbalances
Jun 2012
This paper tracks the development of sectoral saving and borrowing in the US economy over the past 50 years.