September 27, 2014. Presentation. "Discussion of 'Time Consistency and the Duration of Government Debt,' by Bhattarai, Eggertsson, and Gafarov." SNB Research Conference, Zurich.

October 2, 2014. Presentation. "The FOMC: Ahead on Results, Behind on Rates." Tupelo, Miss.

October 9, 2014. Opening Remarks. Given at the 39th Annual Federal Reserve Bank of St. Louis Fall Conference, Federal Reserve Bank of St. Louis.

Welcoming Remarks. Given at the Second Annual Community Banking in the 21st Century, The Federal Reserve System and Conference of State Bank Supervisors (CSBS), St. Louis.

St. Louis Fed President James Bullard discussed factors that are weighing on the decision to begin normalizing U.S. monetary policy and the recent removal of the word “patient” from the FOMC statement, during the 24th Annual Hyman P. Minsky Conference, in Washington, D.C. He said that now...

We study an economy in which intermediaries have incentives to issue circulating liabilities as part of an equilibrium. We show that, with arbitrarily small transactions costs, only the liabilities of intermediaries will circulate, and not those of other private sector agents. Therefore, our...

We study a general equilibrium model where the multiplicity of stationary periodic perfect foresight equilibria is pervasive. We investigate the extent of which agents can learn to coordinate on stationary perfect foresight cycles. The example economy, taken from Grandmont (1985), is an...

We study dynamic economies in which agents may have incentives to hold both privately-issued (a.k.a. inside) and publicly-issued (a.k.a. outside) circulating liabilities as part of an equilibrium. Our analysis emphasizes spatial separation and limited communication as frictions that motivate...