This paper studies how monetary policy jointly affects asset prices and the real economy in
the United States. I develop an estimator that uses high-frequency surprises as a proxy for …

Extreme weather events are expected to increase with climate change. Such events are
detrimental for local economic activity but could also affect countries that are not directly …

Exogenous shifts in international food commodity prices, which are identified using an SVAR
model with global harvest shocks as an external instrument, explain almost 30% of euro …

This paper investigates the impact of monetary policy shocks on macroeconomic and
financial variables in the United Kingdom using a new series of high-frequency monetary …

I argue that, on theoretical grounds, the discretionary component of taxation should be
allowed to have different effects than the automatic response of tax revenues to …

We develop methods for robust Bayesian inference in structural vector autoregressions
(SVARs) where the parameters of interest are set-identified using external instruments, or …

We examine the macroeconomic effect of large-scale asset purchases (LSAPs) and forward
guidance (FG) using a proxy structural VAR estimated on data through 2015, where the …

We estimate the dynamic causal effects of consumer sentiment shocks in the US. We identify
autonomous changes in survey evidence on consumer confidence using fatalities in mass …

This paper studies how monetary policy jointly affects asset prices and the real economy in
the United States. I develop an estimator that uses high-frequency surprises as a proxy for …

This paper estimates the effects of exogenous changes in income and consumption taxes.
The tax shocks are proxied with a narrative account of tax liability changes in the United …