This dissertation consists of three self-contained chapters on monetary policy and fiscal policy. All three papers concern the effects of monetary and fiscal policy in the presence of financial frictions. In the first paper this friction is a zero lower bound on the nominal interest rate, which...

In this paper, we study choice under uncertainty with belief functions on a set of outcomes as objects of choice. Belief functions describe what is objectively known about the probabilities of outcomes. We assume that decision makers have preferences over belief functions that reflect both their...

This paper surveys the capacity of simple macroeconomic models - 'three easy pieces' - to account for persistent and positive valuations of privately issued assets based on the blockchain. Each of these three models - transactions demand for a means of payment, consumption-based capital asset...