Research Statement [Word Document, 2023] [PDF, 2023]

Research Interests: Macroeconomics, International Finance, Productivity Growth

Recent Media

Jordà, Singh, & Taylor “The Long-Run Effects of Monetary Policy” frbsf working paper

• Covered by Bloomberg, Financial Times [1],  Financial Times [2]

• Summary at FRBSF Economic Letters 

Jordà, Singh, & Taylor “Longer-run Economic Consequences of Pandemics” w26934.pdf

• Covered by Barron's, Bloomberg,  The Economist[1], The Economist [2],  Reuters, The Telegraph

• Summary at VoxEU and IMF Finance and Development

Eggertsson, Mehrotra, Singh, & Summers "A Contagious Malady? Open Economy Dimensions of Secular Stagnation"  published draft

• Covered by Washington Post, Paul Krugman's Blog at NY Times, Economist's View

​​Working Papers​

1. Understanding Persistent ZLB: Theory and Assessment

Revise and Resubmit, American Economic Journal: Macroeconomics

(with Pablo Cuba-Borda) 

December 2021

2. The Long-run Effects of Monetary Policy

(with Òscar Jordà and Alan M. Taylor)

May 2023

Won the Dr. Subir V Gokarn Best Paper Award at 19th Macroeconomics and Finance Conference

3. The Financial Origins of Non-Fundamental Risk

(with Sushant Acharya and Keshav Dogra)

May 2023

Publications

1. Incorporating Diagnostic Expectations into the New Keynesian Framework 

Review of Economic Studies, forthcoming.

(with Jean-Paul L'Huillier and Donghoon Yoo)

2. Bond Premium Cyclicality and Liquidity Traps

Review of Economic Studies, forthcoming.

(with Nicolas Caramp)

Won the Best Paper Award at the Delhi Winter School 2020

3. Supply or Demand? Policymakers' Confusion in the Presence of Hysteresis

Accepted with minor revisions at European Economic Review

(with Antonio Fatás)

4. Currency Areas, Labor Markets, and Regional Cyclical Sensitivity 

IMF Economic Review, forthcoming.

(with Katheryn N Russ and Jay C Shambaugh)

5. Tariffs and the Macroeconomy (publisher's link)

Oxford Research Encyclopedia in Economics and Finance, July 2023.

(with Xiangtao Meng and Katheryn N Russ)

6. Longer-run economic consequences of pandemics

Review of Economics and Statistics, Vol. 104 (1), pp 166–175, January 2022

(with Òscar Jordà and Alan M. Taylor)

7. Output Hysteresis and Optimal Monetary Policy

Journal of Monetary Economics, Vol 117, pp. 871–886, January 2021​

(with Vaishali Garga)

Online Appendix with proofs, additional results on fiscal policy, empirics, and quantitative

8. Log-linear Approximation versus an Exact Solution at the ZLB in the New Keynesian Model

Journal of Economic Dynamics and Control, Vol 105, pp. 21–43, August 2019

(with Gauti Eggertsson)

9. The Effect of Foreign Shocks on the Indian Economy

India Policy Forum 2019, Vol 16: 1–47

(with Aeimit Lakdawala)

10. A Contagious Malady? Open Economy Dimensions of Secular Stagnation

IMF Economic Review, Vol. 64(4), pp. 581–634, December 2016

(with Gauti Eggertsson, Neil Mehrotra and Larry Summers)

Discussions​

1. Golden Fetters and the Causal Effects of Countercyclical Monetary Policy, KJ Mitchener and G Pina, West Coast Workshop in International Finance, 2018 [discussion slides]

2. Multinational Firms, Trade and the Trade-Comovement Puzzle, G Udupa, CAFRAL conference on Financial system and Macroeconomy in Emerging Economies, 2018 [discussion slides]

3. Taking away the Punch Bowl: Monetary Policy and Financial Instability, KD Sheedy, XXI Annual Inflation Targeting Conference, 2019 [discussion slides]

4. Zombie Firm Dynamics and China's Monetary Policy, W Guo, D Jia and TW Li, 11th Tsinghua Workshop in Macroeconomics, 2019 [discussion slides]

5. Zombie Credit and (Dis-)inflation: Evidence from Europe. V Acharya, M Crosignani, T Eisert and C Eufinger, Bank of Finland and CEPR Joint Conference on Monetary Economics and Reality, 2019 [discussion slides]

6. Foreign-currency exposures and the financial channel of exchange rates: Eroding monetary policy autonomy? G Georgiadis and F Zhu, CEBRA-IFM Annual Conference, 2019 [discussion slides]

7. Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment. A Krishnamurthy and W Li, CESifo Macro, Money and International Finance, 2021 [discussion slides]

8. Diagnostic Business Cycles. F Bianchi, C Ilut and H Saijo, NBER Monetary Economics Spring 2022 [discussion slides]

9. Assessing Central Bank Commitment to Inflation Targeting: Evidence From Financial Market Expectations in India. V. Garga, A. Lakdawala and R. Sengupta, CAFRAL conference on Financial system and Macroeconomy in Emerging Economies, 2022 [discussion slides]

10. Market Power and Monetary Policy Transmission. R. Duval, D. Furceri, R. Lee and M. Tavares, ASSA 2023 [discussion slides]