Research Interests
Multiple equilibria and stabilization policy; dynamic aspects of economic development, notably human capital, poverty traps and credit rationing; dynamics of monetary and fiscal policies.
Interviews
“An Interview with Costas Azariadis“, interviewed by Steve N. Durlauf, Macroeconomic Dynamics, 11, (2007): 249-271.
Working Papers and Slides
“A Forward Projection of the Cross Country Income Distributions” (with John Stachurski), Kyoto University Discussion Paper 570/2003.
“Corruption and Economic Development” (with Yannis M. Ioannides), slides (09/2018).
Recent Publications
“Riddles and Models“, Journal of Economic Literature (2018).
“Self-fulfilling Credit Cycles” (with Leo Kaas and Yi Wen), Review of Economic Studies (2015).
“Capital Misallocation and Aggregate Factor Productivity” (with Leo Kaas), forthcoming in Macroeconomic Dynamics (2016).
“The Optimal Inflation Target in an Economy with Limited Enforcement” (with Gaetano Antinolfi and James Bullard), forthcoming in Macroeconomic Dynamics (2014).
“Credit Policy in Times of Financial Distress”, J.Macroeconomics (2014).
“Credit Crunches as Markov Equilibria” (with Kiyoung Jin Choi), J.Macroeconomics (2013), online 9/27.
“Endogenous Credit Limits with Small default Costs” (with Leo Kaas), Journal of Economic Theory (2013)
“A Two-Sector Model of Endogenous Growth with Leisure Externalities” (with B.-L. Chen, C.-H. Lu and Y.-C. Wang), Journal of Economic Theory (2013).
“Credit and Growth under Limited Commitment” (with Leo Kaas), Macroeconomic Dynamics (April 2008):20-30.
“Asset Price Fluctuations without Aggregate Shocks” (with Leo Kaas), Journal of Economic Theory (2007).
“Credit and Growth Under Limited Commitment” (with Leo Kaas), Macroeconomic Dynamics (2008).
“Is Dynamic General Equilibrium a Theory of Everything?” (with Leo Kaas), Economic Theory 32, (2007): 13-41.
“Monetary Policy and Equilibrium Selection” (with Gaetano Antinolfi and James Bullard), Federal Reserve Bank of St. Louis Review 89(4), (2007): 331-41.
“Unemployment Dynamics and International Capital Mobility” (with Chris Pissarides), European Economic Review 51(1), (2007): 27-48.