SANJAY K. CHUGH
CHUGH.14@OSU.EDU ▪ SKCHUGH@ALUM.MIT.EDU ▪ WWW.SKCHUGH.COM
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Macroeconomics, macro-labor, fiscal policy, quantitative macro theory
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University of Pennsylvania, Department of Economics
Ph.D., August 2004
Dissertation: “Habit Persistence and Optimal Interest-Rate Smoothing”
Dissertation Committee: Jesus Fernández-Villaverde, Dirk Krueger, Bill Dupor
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Philadelphia, PA
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Massachusetts Institute of Technology
S.B. in Economics, S.B. in Biology, June 1997
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Cambridge, MA
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The Ohio State University
August 2016 -- present
Associate Professor (with tenure), Department of Economics
Boston College
January 2012 – present
Assistant Professor, Department of Economics
University of Maryland
August 2007 – December 2011
Assistant Professor, Department of Economics
Kiel Institute for the World Economy (Institut für Weltwirtschaft)
January 2011 – October 2016
Visiting Scholar
Federal Reserve Bank of Boston
February 2010 – December 2010
Visiting Scholar
Federal Reserve Board
June 2004 – August 2007
Economist, Division of International Finance (Advanced Foreign Economies)
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Columbus, OH
Chestnut Hill, MA
College Park, MD
Kiel, Germany
Boston, MA
Washington, DC
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Journal of Money, Credit, and Banking
August 2016 – present
Editor
Journal of Money, Credit, and Banking
September 2012 – July 2016
Associate Editor
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PUBLICATIONS
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Efficiency and Labor Market Dynamics in a Model of Labor Selection (with Christian Merkl). International Economic Review, 2016. Vol. 57, p. 1371-1404
Firm Risk and Leverage-Based Business Cycles. 2016. Review of Economic Dynamics, Vol. 20, p. 111-131.
Optimal Fiscal and Monetary Policy in Customer Markets (with David M. Arseneau, Ryan Chahrour, and Alan Finkelstein Shapiro). 2015. Journal of Money, Credit, and Banking, Vol. 47, p. 617-672.
Costly External Finance and Labor Market Dynamics. 2013. Journal of Economic Dynamics and Control, Vol. 37, p. 2882-2912.
Tax Smoothing in Frictional Labor Markets (with David M. Arseneau). 2012. Journal of Political Economy, Vol. 120, p. 926-985.
Optimal Fiscal and Monetary Policy when Money is Essential (with S. Boragan Aruoba). 2010. Journal of Economic Theory, Vol. 145, p. 1618-1647.
Does the Timing of the Cash-in-Advance Constraint Matter for Optimal Fiscal and Monetary Policy? 2009. Macroeconomic Dynamics, Vol 13, p. 133-150.
Optimal Fiscal and Monetary Policy with Costly Wage Bargaining (with David M. Arseneau). 2008. Journal of Monetary Economics, Vol. 55, p. 1401-1414.
Relative Consumption Benchmarks. 2008. Economics Letters. Vol. 100, p. 204-207.
Optimal Inflation Persistence: Ramsey Taxation with Capital and Habits. 2007. Journal of Monetary Economics, Vol. 54, p. 1809-1836.
Optimal Fiscal and Monetary Policy with Sticky Wages and Sticky Prices. 2006. Review of Economic Dynamics, Vol. 9, p. 683-714.
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WORKING PAPERS
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Optimal Fiscal Policy with Endogenous Product Variety (with Fabio Ghironi) (submitted)
Searching for Wages in an Estimated Labor Matching Model (with Ryan Chahrour and Tristan Potter) (submitted)
Optimal Fiscal Policy with Labor Selection (with Wolfgang Lechthaler and Christian Merkl) (submitted)
Labor Force Participation and General Equilibrium Efficiency in Search and Matching Models (with David M. Arseneau)
Optimal Capital Taxation in an Economy with Capital Allocation Frictions (with David M. Arseneau and Andre Kurmann)
Money and Optimal Capital Taxation (with S. Boragan Aruoba)
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REFEREE
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American Economic Review, Econometrica, Review of Economic Studies (2), Journal of Monetary Economics (13), AEJ: Macroeconomics (2), Journal of Money, Credit, and Banking (19, 11 as AE), Journal of Economic Theory, European Economic Review (3), Review of Economic Dynamics (4), Journal of the European Economic Assocation (2), Journal of International Economics(3), International Economic Review (4), Journal of Economic Theory, Journal of Economic Dynamics and Control (6), Macroeconomic Dynamics (6), Journal of Macroeconomics (2), B.E. Journals in Macroeconomics (4), Canadian Journal of Economics, Oxford Economic Papers, International Economic Journal, International Tax and Public Finance, Swedish Journal of Economics, Journal of Public Economic Theory
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INTERESTS
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Macroeconomics, labor economics, monetary economics
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TEXTBOOKS AND TEACHING MANUSCRIPTS
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Modern Macroeconomics (published by MIT Press, October 2015): An introduction to modern dynamic macroeconomic theory for an intermediate- to advanced-intermediate undergraduate level course; advanced topics suitable for a MA- or MS-level course.
https://mitpress.mit.edu/books/modern-macroeconomics
A Short Course in Introductory Macroeconomics (125 pages): A supplement for an introductory or intermediate course in macroeconomics
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TEACHING EXPERIENCE
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Courses taught at Boston College
Fall 2015, Fall 2014, Fall 2013, Spring 2013, Spring 2012: Macroeconomics II (second-year Ph.D. course)
Fall 2015, Spring 2015, Fall 2014, Fall 2013: Macroeconomic Theory (undergraduate)
Courses taught at University of Maryland
Macroeconomic Analysis I (first-year Ph.D. course):
Fall 2011, Fall 2010
Advanced Macroeconomic Theory I (second-year Ph.D. course):
Fall 2011, Fall 2010, Fall 2009, Fall 2008, Fall 2007
Intermediate Macroeconomics (undergraduate):
Fall 2011, Spring 2011, Fall 2010, Spring/Fall 2009, Spring/Fall 2008
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Chestnut Hill, MA
College Park, MD
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Courses taught at Georgetown University
Monetary Economics (upper-level undergraduate): Fall 2006
International Finance (undergraduate): Fall 2006, Fall 2005, Spring 2005
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Washington, DC
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Courses taught at Johns Hopkins University
Topics in Macroeconomics (M.A.): Spring 2010, Summer 2008
Macroeconomic Theory and Policy (M.A.): 14 semesters total, 2005-2012
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Washington, DC
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University and Other Invited Seminars
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Academic Year 2015-2016
Ohio State University
Academic Year 2014-2015
Federal Reserve Bank of Chicago
Academic Year 2013-2014
Federal Reserve Bank of New York; Federal Reserve Board; University of Connecticut
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Academic Year 2012-2013
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Notre Dame; HEC Montreal; Federal Reserve Bank of Cleveland; CES/Ifo Institute (Munich); Kiel Institute for the World Economy
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Academic Year 2010-2011
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Johns Hopkins University; Boston College; University of Virginia; Emory University; Federal Reserve Bank of Philadelphia; Drexel University College of Business
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Academic Year 2009-2010
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IZA Institute (Bonn, Germany); Kiel Institute (Kiel, Germany); Boston College; Federal Reserve Bank of Boston; Federal Reserve Bank of Dallas; Boston University; London Business School; Federal Reserve Bank of Cleveland; Georgetown University
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Academic Year 2008-2009
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European Central Bank; Goethe University (Frankfurt); London Business School; Federal Reserve Bank of Boston; Federal Reserve Bank of Richmond; Federal Reserve Bank of San Francisco; Federal Reserve Bank of Atlanta; University of Maryland
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Academic Year 2007-2008
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Georgetown University; Duke University; Federal Reserve Bank of Philadelphia; HEC Montreal; University of Delaware; University of Maryland
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Academic Year 2006-2007
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University of Maryland
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Academic Year 2004-2005
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University of Maryland
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Conference Presentations and Discussions
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2016
- Federal Reserve Bank of New York/Kiel Institute conference, Optimal Fiscal Policy with Labor Selection
2015
- Boston Area Macro Juniors Conference (Federal Reserve of Boston)
2014
- Paris Conference on Goods Markets, the Macroeconomy, and Policy (Sciences Po, Paris)
- Green Line Macroeconomics Meetings (Boston University) (Discussion of Hasanhodzic, “Increasing Borrowing Costs and the Equity Premium”)
2013
- Green Line Macroeconomics Meetings (Boston University) (Discussion of Clementi and Palazzo, “Entry, Exit, Firm Dynamics, and Aggregate Fluctuations”)
2012
- Green Line Macroeconomics Meetings (Boston College) (Discussion of Siemer, “Firm Entry and Employment Dynamics in the Great Recession”)
2011
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- Labor Markets and the Macroeconomy (Nuremberg, Germany) (Discussion of Landais, Michaillat, and Saez, “Optimal Unemployment Insurance over the Business Cycle”)
- SED Annual Meetings (Ghent, Belgium)
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2010
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- Federal Reserve Bank of Philadelphia/Kiel Institute conference, Labor Markets After the Great Recession (Discussion of Cahuc and Challe, “Produce or Speculate? Asset Bubbles, Occupational Choice, and Efficiency”)
- Green Line Macroeconomics Meetings (Boston University) (Discussion of McKay and Papp, “Accounting for the Cyclical Volatility of Wages”)
- NBER Fall Workshop, Dynamic Equilibrium Models group (Atlanta)
- SED Annual Meetings (Montreal)
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2009
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- Federal Reserve Bank of Cleveland Conference on “Models and Policies for Economies with Credit and Financial Instability” (Discussion of Carlstrom, Fuerst, and Paustian)
- SED Annual Meetings (Istanbul)
- Wage Dynamics Network (WDN) Conference, European Central Bank (Frankfurt)
- Econometric Society Summer Meetings (Boston)
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2008
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- Chicago Fed Workshop on Money, Banking, and Payments
- SED Annual Meetings (Boston)
- International Research Forum on Monetary Policy (European Central Bank, Frankfurt)
- Washington University/St. Louis Fed Conference on Money, Credit, and Policy
- Midwest Macro Meetings (Philadelphia)
2008 AEA Annual Meetings (New Orleans)
- Session Organizer: “Optimal Policy in New DSGE Environments”
- Discussant: “Ramsey Monetary Policy with Labor Market Frictions” by Ester Faia
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2007
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- Cleveland Fed Workshop on Money, Banking, and Payments
- SED Annual Meetings (Prague)
- Econometric Society Summer Meetings (Duke University)
- SCE Meetings (Montreal)
- Midwest Macro Meetings (Cleveland)
- Econometric Society Winter Meetings (Chicago)
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2006
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- Cleveland Fed Workshop on Money, Banking, and Payments
- SED Annual Meetings (Vancouver)
- SCE Meetings (Limassol, Cyprus)
- Midwest Macro Meetings (St. Louis)
- Federal Reserve System Macroeconomics Meetings (Baltimore)
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2005
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- Econometric Society World Congress (London)
- SCE Meetings (Washington, DC)
- Midwest Macro Meetings (University of Iowa)
- Federal Reserve System Macroeconomics Meetings (New Orleans)
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Completed Boston Athletic Association 10K (Boston, MA): June 2014, June 2013, June 2012
Completed Marine Corps Marathon (Washington, DC): October 2008, October 2007, October 2006, October 2005
Completed Philadelphia Marathon: November 2004, November 2003, November 2002
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