This dissertation consists of two essays in international macroeconomics. Thefirst essay shows that optimal fiscal and monetary policy is time consistent in astandard small open economy. Further, there exist many maturity structuresof public debt capable of rendering the optimal policy time...

This dissertation is motivated by the fact that while the literature has had a great deal of success in developing empirical models for monetary policy analysis, the same can not be said for fiscal policy. This work advances our understanding of various issues in identification and modeling of...

This dissertation is comprised of two chapters. In the first chapter, I investigate the role of systematic U.S. monetary policy in the presence of oil price shocks. The second chapter is devoted to studying different approaches to modeling energy demand. In an influential paper, Bernanke,...

This dissertation is the collection of three essays aimed to evaluate the empirical performance of dynamic stochastic general equilibrium (DSGE) models in explaining the behavior of macroeconomic dynamics in emerging countries. Chapter 1, which is joint work with M. Uribe and R. Pancrazzi,...