maccalm

Publications

How long does economic injustice last?

By David Miles Published in National Institute Economic Review Abstract This article assesses whether economic injustices that took place in the past still have significant implications for the material welfare of...

Long-Term-Care Utility and Late-in-Life Saving

Long-Term-Care Utility and Late-in-Life Saving By John Ameriks, Joseph Briggs, Andrew Caplin, Matthew D. Shapiro, and Christopher Tonetti. Published in Journal of Political Economy in 2020 Abstract: Older wealth holders...

Portfolio rebalancing in general equilibrium

Portfolio rebalancing in general equilibrium By Miles S. Kimball, Matthew D. Shapiro, Tyler Shumway, and Jing Zhang Published in Journal of Financial Economics Abstract: This paper develops an overlapping generations...

Forward Guidance

Forward Guidance By Iourri Manovski, Marcus Hagedorn, Jinfeng Luo, and Kurt Mitman Published in Journal of Monetary Economics Abstract: We assess the power of forward guidance — promises about future interest rates — as...

Directed and Competitive Search: A Guided Tour

Directed and Competitive Search: A Guided Tour By Philipp Kircher, Ranfall Wright, Benoît Julien and Veronica Guerrieri Published in Journal of Economic Literature Abstract: This essay surveys the literature on directed...

Working Papers

Summaries

Liquidity, Business Cycles, and Monetary Policy

Summary This paper derives a model economy in which money and other assets carry different liquidity. The aim of the model is to investigate how economic activity and asset prices depend on changes in productivity and...

Background Papers