- Staff Report 592 (Revised January 2026)Cristina Arellano, Yan Bai, and Gabriel Mihalache
Forthcoming in: Quarterly Journal of Economics, https://doi.org/10.1093/qje/qjag012.
- Staff Report 678 (December 2025)Cristina Arellano and Leonardo Barreto
- Staff Report 547 (Revised February 2024)Cristina Arellano, Yan Bai, and Luigi Bocola
Forthcoming in: Journal of the European Economic Association, https://doi.org/10.1093/jeea/jvaf067.
- Staff Report 625 (Revised February 2024)Mark Aguiar, Manuel Amador, and Cristina Arellano
Published in: American Economic Review (Vol. 114, No. 11, November 2024, pp. 3669-3713), https://doi.org/10.1257/aer.20230128.
This paper previously circulated with the title Micro Risks and Pareto Improving Policies with Low Interest Rates.
This paper previously circulated with the title Micro Risks and Pareto Improving Policies.
- Staff Report 646 (June 2023)Mark Aguiar, Manuel Amador, and Cristina Arellano
- Staff Report 603 (Revised October 2022)Cristina Arellano, Yan Bai, and Gabriel Mihalache
Published in: Review of Economic Studies (Vol. 91, Iss. 3, May 2024, pp. 1243-1290), https://doi.org/10.1093/restud/rdad058.
- Staff Report 589 (Revised July 2022)Cristina Arellano, Xavier Mateos-Planas, and José-Víctor Ríos-Rull
Published in: Journal of Political Economy (Vol. 131, No. 6, June 2023, pp. 1385-1439), https://doi.org/10.1086/722934.
- Staff Report 632 (Revised June 2022)Cristina Arellano, Yan Bai, and Gabriel Mihalache
Published in: IMF Economic Review (Vol. 71, pp. 216-242), https://doi.org/10.1057/s41308-022-00186-4.
- Staff Report 466 (November 2018)Cristina Arellano, Yan Bai, and Patrick J. Kehoe
Published in: Journal of Political Economy (Vol. 127, No. 5, October 2019, pp. 2049-2103), https://doi.org/10.1086/701792.
[Staff Report 538: Appendix for Financial Frictions and Fluctuations in Volatility](http://researchdatabase.minneapolisfed.org/concern/publications/3x816m70c?locale=en) - Staff Report 538 (November 2018)Cristina Arellano, Yan Bai, and Patrick J. Kehoe
[Staff Report 466: Financial Frictions and Fluctuations in Volatility](http://researchdatabase.minneapolisfed.org/concern/publications/05741r77z?locale=en)