Working papers
Published papers
Computation
Book
CV
Alisdair McKay
Monetary Advisor
Federal Reserve Bank of Minneapolis
Email: alisdair.mckay@gmail.com
Working papers
How Should Monetary Policy Respond to Housing Inflation?
With
Javier Bianchi
and
Neil Mehrotra
.
Evaluating Policy Counterfactuals: A VAR-Plus Approach
With
Tomas Caravello
and
Christian Wolf
.
Replication files (GitHub).
Optimal Policy Rules in HANK
With
Christian Wolf
.
A Tractable Income Process for Business Cycle Analysis
With
Fatih Guvenen
and
Conor Ryan
.
Published papers
What Can Time-Series Regressions Tell Us About Policy Counterfactuals?
With
Christian Wolf
.
Econometrica
2023
Replication material.
|
Online appendix.
Monetary Policy and Inequality
With
Christian Wolf
.
Journal of Economic Perspectives
2023
Replication files.
Forward Guidance and Durable Goods Demand
With
Johannes Wieland
.
American Economic Review: Insights
2022
Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy
With
Johannes Wieland
.
Econometrica
2021
Replication codes.
|
Online appendix.
Optimal Automatic Stabilizers
With
Ricardo Reis.
Review of Economic Studies
2021
Replication material at GitHub.
Housing Wealth Effects: The Long View
With
Adam Guren
,
Emi Nakamura
, and
Jon Steinsson
.
Review of Economic Studies
2021
House price sensitivities.
|
Replication files.
What do we Learn from Cross-Regional Empirical Estimates in Macroeconomics?
With
Adam Guren
,
Emi Nakamura
, and
Jon Steinsson
.
NBER Macroeconomics Annual
2020
Python replication codes.
The Discounted Euler Equation: A Note
With
Emi Nakamura
and
Jon Steinsson
.
Economica
2017
Published version.
Time-Varying Idiosyncratic Risk and Aggregate Consumption Dynamics
Journal of Monetary Economics
2017
Published version
|
Time series for idiosyncratic risk factor
|
Matlab replication codes
The Power of Forward Guidance Revisited
With
Emi Nakamura
and
Jon Steinsson
.
American Economic Review
2016
Matlab replication codes.
|
Note about Table 2.
The Role of Automatic Stabilizers in the U.S. Business Cycle
With
Ricardo Reis.
Econometrica
2016
Matlab codes for simplified version of the model.
|
Matlab replication codes.
Rational Inattention to Discrete Choices: A New Foundation for the Multinomial Logit Model
With
Filip Matejka
.
American Economic Review
2015
Published version.
|
Additional appendices.
Search for Financial Returns and Social Security Privatization
Review of Economic Dynamics
2013
Published version
|
Appendix
|
Programs and data
Simple Market Equilibria with Rationally Inattentive Consumers
With
Filip Matejka
.
American Economic Review (Papers and Proceedings)
2012
Published version
News Shocks and Business Cycles
With
Per Krusell
.
Federal Reserve Bank of Richmond Economic Quarterly
2010
The Brevity and Violence of Contractions and Expansions
With
Ricardo Reis
.
Journal of Monetary Economics
2008
Published version
|
Appendix
|
Programs and data
Notes on computation
Short course on basic numerical methods.
Short course on computation for heterogeneous-agent macro.
Endogenous grid method, solving the Aiyagari model using non-stochastic simulation, perfect foresight transitions, sequence space Jacobians, a simple HANK model.