Publications

On the Societal Benefits of Illiquid Bonds
Forthcoming: Canadian Journal of Economics

Fiscal Multipliers in War and in Peace
Federal Reserve Bank of St. Louis Review, 2010, March/April, 121-128.

Essential Interest-Bearing Money
Journal of Economic Theory, 2010, 145(4): 1495-1507.

The Theory of Money
In Introducing Macroeconomic Analysis: Issues, Questions, and Competing Views, edited by H. Bougrine and M. Seccareccia
Emond Montgomery Publications Limited, 2009: 35-48 DOWNLOAD

Money, Intermediation, and Banking (with Ed Nosal)
Journal of Monetary Economics, 2009, 56: 289-294 DOWNLOAD

Rational Truth-Avoidance and Self-Esteem (with Steeve Mongrain and Gordon Myers)
Canadian Journal of Economics, February 2009, 42: 141-154 DOWNLOAD

Endogenous Debt Constraints in a Life-Cycle Model with an Application to Social Security (with Martin Gervais)
Journal of Economic Dynamics and Control, December 2008, 32(12): 3745-3759 DOWNLOAD

Bank Incentives, Contract Design, and Bank-Runs (with Ed Nosal)
Journal of Economic Theory, September 2008, 142(1): 28-47 DOWNLOAD

Search Models of Unemployment
The New Palgrave Dictionary of Economics (2nd edition) 2008 DOWNLOAD

Are Inflation Expectations Rational? (with Scott Hendry and Kevin Moran)
Journal of Monetary Economics, March 2008, 55(2):406-422 DOWNLOAD

The Role of Independence in the Diamond-Dybvig Green-Lin Model (with Ed Nosal and Neil Wallace)
Journal of Economic Theory, November 2007, 137(1):709-715 DOWNLOAD

Human Capital Investment and Debt Constraints (with Martin Gervais)
Review of Economic Dynamics, January 2006, 9(1):52-67 DOWNLOAD

Labour Markets, Liquidity, and Monetary Policy Regimes (with Scott Hendry and Kevin Moran)
Canadian Journal of Economics, May 2004, 37(2):392-420 DOWNLOAD

Taking Intermediation Seriously: A Comment (Author: Bruce D. Smith)
Journal of Money, Credit, and Banking, December 2003, 35(6-2):1359-1366 DOWNLOAD

Monetary Implications of the Hayashi-Prescott Hypothesis for Japan
Monetary and Economic Studies, December 2003, 21(4):1-20 DOWNLOAD

Monetary Policy Regimes and Beliefs (with Paul Gomme)
International Economic Review, 2003, 44:1-30 DOWNLOAD

A Theory of Inalienable Property Rights
Journal of Political Economy, April 2002, 110(2):382-393  DOWNLOAD

A Simple Model of Money and Banking (with Ed Nosal)
Federal Reserve Bank of Cleveland Economic Review, 2001, 37(3):20-28 DOWNLOAD

Distributional Dynamics Following a Technological Revolution (with Eric Smith)
Canadian Journal of Economics, August 2001, 34(3):739-759 DOWNLOAD

The Expectation Trap Hypothesis: A Comment (Authors: Lawrence J. Christiano and Christopher Gust)
Proceedings of the Bank of Canada Conference on Money, Monetary Policy and Transmission Mechanisms,
October 2000, 394-402  DOWNLOAD

Unemployment and Economic Welfare (with Paul Gomme)
Federal Reserve Bank of Cleveland Economic Review, 1998, 34(3):25-34 DOWNLOAD

Technology Diffusion and Aggregate Dynamics (with Glenn MacDonald)
Review of Economic Dynamics, April 1998, 1(2):338-370 DOWNLOAD

U.S. Labor Market Policy and the Canada-U.S. Unemployment Rate Gap (with Paul Gomme and Paul Storer)
Canadian Public Policy, February 1998, XXIV (Supplement):210-232  DOWNLOAD

Evidence and Theory on the Cyclical Asymmetry in Unemployment Rate Fluctuations
Canadian Journal of Economics, August 1997, XXX(3):709-721 DOWNLOAD

Optimal Team Contracts (with Ed Nosal)
Canadian Journal of Economics, May 1997, XXX(2):385-396 DOWNLOAD

Unemployment Insurance and Labor-Market Activity in Canada (with Paul Gomme)
Carnegie-Rochester Conference on Public Policy,  June 1996, 44:47-82 DOWNLOAD

Business Cycles and Labor-Market Search
American Economic Review, March 1996, 86(1):112-132 DOWNLOAD