Publications in Refereed Journals

Time Use During Recessions (with Erik Hurst and Loukas Karabarbounis). American Economic Review, forthcoming. Robustness Appendix. Data and Programs.

Growth in the Shadow of Expropriation (with Manuel Amador), Quarterly Journal of Economics, May 2011, Vol 126, No 2, 651-697. Online Appendix.

Investment Cycles and Sovereign Debt Overhang, (with Manuel Amador and Gita Gopinath) Review of Economic Studies, January 2009, Vol76, No. 1, 1-31.

Lifecycle Prices and Production, (with Erik Hurst). Data and Programs. American Economic Review, December 2007, Vol 97, Number 5, 1533-1559.

Measuring Trends in Leisure, (with Erik Hurst) Data and Programs. Quarterly Journal of Economics, August 2007, Vol. 122, No. 3: 969-1006.

Emerging Market Business Cycles: The Cycle is the Trend (with Gita Gopinath), Journal of Political Economy, February 2007, 115, Number 1, 69-102. Data and Programs.

Defaultable Debt, Interest Rates, and the Current Account, (with Gita Gopinath), Journal of International Economics, June 2006, Vol 69 Number 1, 64-83.Programs.

Determining Underlying Macroeconomic Fundamentals during Emerging Market Crises: Are conditions as bad as they seem? (with Fernando Broner), Journal of Monetary Economics, May 2006, Vol 53, Issue 4, 699-724.

Consumption vs. Expenditure, (with Erik Hurst), Journal of Political Economy, October 2005, Vol 113 Number 5, 919-948

Investment, Devaluation, and Foreign Currency Exposure: The Case of Mexico, Journal of Development Economics, October 2005, Vol 78, Issue 1, 95-113.

Fire-Sale FDI and Liquidity Crises, (with Gita Gopinath), Review of Economics and Statistics, August 2005, Vol 87 Issue 3, 439-452.

Other Publications

Discussion of Rong Qian, Carmen Reinhart, and Kenneth Rogoff "On Graduation from Default, Inflation and Banking Crises: Ellusive or Illusion", NBER Macroannual 2010

Expropriation Dynamics, (with Manuel Amador and Gopinath), American Economic Review Papers & Proceedings 2009. Click here for appendix. Click here for python code.

The Increase in Leisure Inequality, (with Erik Hurst), draft prepared for the American Enterprise InstituteÕs monograph series on economic well-being and inequality, September 2007.

The Permanent Income Hypothesis, New Palgrave Dictionary of Economics, 2nd Edition (with Erik Hurst).

Emerging Market Fluctuations: The Role of Interest Rate and Productivity Shocks, (with Gita Gopoinath), November 2006, Prepared for the Tenth Annual Conference on the Central Bank of Chile, Current Account and External Financingâ December 2006.

Working Papers

Sovereign Debt prepared for Handbook of International Economics, Vol 4 (with Manuel Amador).

Crisis and Commitment:Inflation Credibility and the Vulnerability to Sovereign Debt Crises (with Manuel Amador, Emmanuel Farhi, and Gita Gopinath) [Preliminary Draft].

Fiscal Policy in Debt Constrained Economies (with Manuel Amador).

Deconstructing Lifecycle Expenditure (with Erik Hurst). Data and Programs. Robustness Appendix. (Under revision for the Journal of Political Economy).

Has Consumption Inequality Mirrored Income Inequality (with Mark Bils). Data and Programs.

Efficient Expropriation: Sustainable Fiscal Policy in a Small Open Economy, (with Manuel Amador and Gita Gopinath), January 2006 (Precursor to "Investment Cycles and Sovereign Debt Overhang").