Men, Booms, Steady Progress

Disinflationary Booms? Disinflationary Booms?

This paper shows that announced credible disinflations under inflation targeting lead to a boom in a standard New Keynesian model (i.e. a disinflationary boom). This finding is robust with respect to various parameterizations and disinflationary experiments. Thus, it differs from previous findings about disinflationary booms under monetary targeting.

Steady progress on Parkinson's disease.

Treatment of Parkinson's disease is expected to lead to $3.56 billion in global sales in 2022. Manufacturers are reformulating medications in addition to creating new ones.

Inclusion body myositis pathogenesis: Steady progress.

Inclusion body myositis (IBM) is a slowly progressive skeletal muscle disease for which no effective pharmacological therapy is available. Since its initial pathological description 50 years ago, substantial progress has been made in our clinical understanding of IBM. We now have extensive understanding of its demographics, pattern of muscle involvement, and diagnostic criteria, and large amoun...

Travellers' diarrhoea: slow but steady progress.

Uncertain Booms and Fragility

I develop a framework of the build-up and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: normal times – periods of modest investment, and booms – periods of expansionary investment. Normal times occur when the intermediary sector realizes moderate investment opportunities. Booms occur when the intermediary sect...