The views expressed here do not reflect those of the Federal Reserve Board or the Federal Reserve System.
Publications
with Boyan Jovanovic (NYU) and Peter L. Rousseau (Vanderbilt)
Journal of Economic Growth, Vol 27 (3), September 2022, pp. 315–363
Biases Distortions and Macroeconomic Fluctuations
with Francesco Bianchi (Johns Hopkins) and Sydney C. Ludvigson (NYU)
American Economic Review, Vol 112, No.7, July 2022, pp. 2269-2315
What is Certain about Uncertainty (A survey on uncertainty measures)
Journal of Economic Literature, Forthcoming
Co-author list (All from FRB): Danilo Cascaldi-Garcia, Cisil Sarisoy, Juan M. Londono, John H. Rogers, Bo Sun, Deepa Datta, Thiago R.T. Ferreira, Olesya V. Grishchenko, Mohammad R. Jahan-Parvar, Francesca Loria, Marius Rodriguez, Ilknur Zer
Uncertainty and Growth Disasters
Review of Economic Dynamics, Volume 44, April 2022, Pages 33-64
Uncertainty and Business Cycles: Exogenous Impulse or Endogenous Response?
with Sydney C. Ludvigson (NYU) and Serena Ng (Columbia)
AEJ: Macro 13 (4), October 2021, pp. 369-410.
Macro and Financial Uncertainty Index (Updated every February and August) Last Update: 2023 February
COVID19 and The Costs of Deadly Disasters
with Sydney C. Ludvigson (NYU) and Serena Ng (Columbia)
AEA Papers and Proceedings 111, May 2021, pp 366-370
The version published in CEPR COVID Economics Issue 9. NBER Working Paper No. 26987
Capital Share Risk in U.S. Asset Pricing (Appendix)
with Martin Lettau (Berkeley Hass) and Sydney C. Ludvigson (NYU)
Journal of Finance 74(4), August 2019, pp. 1753-1792.
Fed Policy Papers/Notes
Global Real Economic Uncertainty and COVID-19 (Ranie Lin and Juan M. Londono), FEDS Notes, February 2022
Quantifying the Impact of Foreign Economic Uncertainty on the U.S. Economy (Juan M. Londono and Beth Anne Wilson), FEDS Notes, October 2019
Working Papers
Monetary-Based Asset Pricing: A Mixed-Frequency Structural Approach (March 2023)
with Francesco Bianchi (Johns Hopkins) and Sydney C. Ludvigson (NYU)
Heterogeneous Intermediaries and Asset Prices: A Semiparametric Approach (February 2023)
An updated and streamlined version of my JMP (2018)
Housing Cycles and Exchange Rates (Appendix) (January 2023), Under R&R at Management Science
with Shaojun Zhang (OSU Fisher)
The Global Transmission of Real Economic Uncertainty (January 2023), Under R&R at JMCB
with Juan M. Londono (FRB) and Beth Anne Wilson (FRB)
Growth through Learning (November 2022), Under R&R at Review of Economic Dynamics (Special Issue)
The Causal Effect of the Dollar on Trade Price (October 2022)
with Tim Schmidt-Eisenlohr (FRB) and Shaojun Zhang (OSU Fisher)
CESifo Working Paper No. 8727
Housing Risk and the Cross-Section of Returns Across Many Asset Classes (April 2021)
with Shaojun Zhang (OSU Fisher)
Shock Restricted Structural Vector-Autoregressions (Jan. 2020, Slides for AEA2020)
with Sydney C. Ludvigson (NYU) and Serena Ng (Columbia)
NBER Working Paper No. 23225
Selected Work in Progress/Major Revisions
Momentum Undervalue Puzzle (with Sydney Ludvigson and Martin Lettau)
Competition and Implementation Cycles
Asset Prices and Dynamic Intermediation Chains in OTC Markets
Sai Ma 