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Trend-cycle decomposition in the presence of large shocks
Published 2025We introduce some refinements of the Beveridge-Nelson filter to help address possible distortions from large shocks. We then compare how the Beveridge-Nelson filter and other popular univariate trend-cycle decomposition ...Article -
Zero Interest Policy & the New Abnormal: A Critique, by Michael Beenstock (Oxford University Press, Oxford, UK, 2022)
Published 2024Book review of Zero Interest Policy & the New Abnormal: A Critique, by Michael Beenstock (Oxford University Press, Oxford, UK, 2022)Article -
Promotion and demotion contests
Published 2024With a fixed prize budget, to increase total effort, we design a two-stage lottery contest where heterogeneous agents face the prospect of promotion and the threat of demotion from one stage to the next. We develop two ...EmbargoedArticle -
It’s not you (well, it is a bit you), it’s me: Self- versus social image in warm-glow giving
Published 2024Attempts by charities to motivate giving tend to focus on potential donors’ altruistic tendencies. However, prior research suggests that approximately 50% of individuals are to some extent motivated by warm glow, the ...Open AccessArticle -
Did marginal propensities to consume change with the housing boom and bust?
Published 2024We extend a widely used semi-structural model to identify and estimate dynamic consumption elasticities with respect to transitory income shocks. Applying our model to household survey data, we find a structural break in ...Article