research

a quantitative analysis of unemployment benefit extensions
(version: november 2011, acceptance with major revisions, journal of monetary economics, also available as philadelphia fed working paper no. 11-8/r, coverage by the arizona republic)

reverse mortgage loans: a quantitative analysis
with irina telyukova (version: august 2011, slides for sed 2011.)

home equity in retirement
with irina telyukova (version: july 2011, submitted, previously titled as "home equity withdrawal in retirement," third prize, networks financial institute competition for best paper in financial services regulatory reform, 2011.)

optimal capital income taxation with housing
(version: april 2010, revise and resubmit, review of economic dynamics, slightly different version also available as philadelphia fed working paper no. 10-11)

worker flows and job flows: a quantitative investigation
with shigeru fujita (version: november 2009, revise and resubmit, review of economic dynamics, slightly different version also available as philadelphia fed working paper no. 09-33)

equilibrium default and temptation
(preliminary draft, version: may 2008)

rising earnings instability, portfolio choice, and housing prices
(version: july 2005)

rising indebtedness and temptation: a welfare analysis
(version: december 2011, accepted for publication in quantitative economics, previously titled as "rising indebtedness and hyperbolic discounting: a welfare analysis," also available as philadelphia fed working paper no. 11-39)

business cycles in the equilibrium model of labor market search and self-insurance
(version: august 2010, accepted for publication in international economic review, also available as philadelphia fed working paper no. 10-24)

a quantitative theory of unsecured credit with risk of default
with satyajit chatterjee, dean corbae, and jose-victor rios-rull. published in econometrica, vol. 75, no. 6 (november 2007), pp. 1525-1589. (this version: july 2005)

default and aggregate fluctuations in storage economies
with jose-victor rios-rull. published in frontiers in applied general equilibrium modeling. (this version: march 2005)

understanding house price dynamics
federal reserve bank of philadelphia business review, 2011 second quarter, pp. 20-28.

everything you wanted to know about reverse mortgage loans but were afraid to ask
federal reserve bank of philadelphia business review, forthcoming.