Publications

Refereed Publications

• Household Debt and the Effects of Fiscal Policy, with Hyunji Song and Sarah Zubairy, International Economic Review, forthcoming. (Online Appendix)

•     Regulatory Arbitrage and Economic Stability, with Uluc Aysun, Journal of International Money and Finance, 2022, 129, 102740. 

• State Dependence of Monetary Policy across Business, Credit and Interest Rate Cycles, with Eleonora Granziera and Sarah Zubairy, European Economic Review, 2021, 140, 103936.

• Regime-Switching Productivity Growth and Bayesian Learning in Real Business Cycles, Macroeconomic Dynamics, 2021, 25, 462-488.

• International Spillovers of Large-Scale Asset Purchases, with Serdar Kabaca, Journal of European Economic Association, 2020, 18, 342-391. (Online Appendix) 

• Household Debt Overhang and Transmission of Monetary Policy, with Sarah Zubairy, Journal of Money, Credit and Banking, 2019, 51, 1265-1307. (Online Appendix)

• A Policy Model to Analyze Macroprudential Regulations and Monetary Policy, with Gino Cateau and Cesaire Meh, Canadian Journal of Economics, 2018, 51, 828-863.

• Addressing Household Indebtedness: Monetary, Fiscal and Macroprudential Policy?, with Sarah Zubairy, European Economic Review, 2017, 92, 47-73.

• Housing and Tax Policy, with Sarah Zubairy, Journal of Money, Credit and Banking, 2016, 48, 485-512. (Online Appendix) (Corrigendum)

• International Transmission of Financial Shocks in an Estimated DSGE Model, with Uluc Aysun, Journal of International Money and Finance, 2014, 47, 21-55.

• The Impact of Central Bank Independence on the Performance of Inflation Targeting Regimes, with Adam Honig, Journal of International Money and Finance, 2014, 44, 118-135.

• Identifying the Role of Risk Shocks in the Business Cycle Using Stock Price Data, Economic Inquiry, 2013, 51, 304-335. (Online Appendix)

• Global Banking and the Balance Sheet Channel of Monetary Transmission, with Uluc Aysun, International Journal of Central Banking, 2012, 8, 141-175.

• Taxation, Collateral Use of Land and Japanese Asset Prices, Empirical Economics, 2012, 43, 819-850.

• Forecasting Performance of an Estimated DSGE Model for the South African Economy, with Kevin Kotze and Geoffrey Woglom, South African Journal of Economics, 2011, 79, 50-67.

• Oil Crisis, Energy-Saving Technological Change and the Stock Market Crash of 1973-74, with Adrian Peralta-Alva, Review of Economic Dynamics, 2010, 13, 824-842.

• Political Monetary Cycles and a de facto Ranking of Central Bank Independence, with Adam Honig, Journal of International Money and Finance, 2010, 29, 1003-1023.

• The Role of the Exchange Rate in a New Keynesian DSGE Model for the South African Economy, with Kevin Kotze and Geoffrey Woglom, South African Journal of Economics, 2010, 78, 170-192.

• The Impact of Central Bank Independence on Political Monetary Cycles in Advanced and Developing Nations, with Adam Honig, Journal of Money, Credit and Banking, 2009, 41, 1365-1389.

Other Publications

• Extending the Textbook Dynamic AD-AS Framework with Flexible Inflation Expectations, Optimal Policy Response to Demand Changes, and the Zero-Bound on the Nominal Interest Rate, with Adam Honig and Geoffrey Woglom, Modern Economy, 2013, 4, 145-160. (Excel workbook)