Working Paper
International Currency Dominance
WP 25-20 – We propose a model of the international monetary system. Our model allows us to study how macroeconomic fundamentals and government policies can lead to the emergence of a dominant currency.
Featured Work
Speech
Economic Outlook and Final Thoughts
Philadelphia Council for Business Economics | Philadelphia, PA
Report
Monetary Policy Report: Using Rules for Benchmarking, March 2025
This special report highlights ongoing work to benchmark the stance of monetary policy using a range of policy rules that are widely employed in studies of monetary economics.
Article
Lessons Learned from the Gold Standard: Implications for Inflation, Output, and the Money Supply
Research in Focus — To understand the gold standard’s dynamic impact on money, prices, and output, two economists developed a model that lets them contrast it with today’s fiat money.