Professor; Director of Graduate Admissions
Boragan Aruoba is an Associate Professor in the Department of Economics at the University of Maryland. He received his PhD from the University of Pennsylvania in 2004 and joined the faculty at Maryland that year. He is a macroeconomist with both theoretical and empirical interests. On the theoretical front, his recent research focuses on the dynamics of an economy when it is at the zero lower bound of nominal interest rates and in general nonlinearities in macroeconomic models. On the empirical front, he worked on understanding statistical properties of data revisions, the yield curve and factor models. His work on an index for tracking business cycles and a new measure of GDP are implemented by the Federal Reserve Bank of Philadelphia.
His research has been published in Journal of Economic Theory, Journal of Monetary Economics, American Economic Journal: Macroeconomics, Journal of Econometrics and Journal of Business and Economic Statistics. He teaches macroeconomics at various levels and computational methods. His work has been supported by National Science Foundation.
- Monetary Economics
- Computational Methods in Economics
- Ph.D. University of Pennsylvania, 2004
|Course Name||Course Title||Semester||Syllabus|
|ECON402||Macroeconomic Models and Forecasting||Fall 2017|
|ECON602||Macroeconomic Analysis II||Spring 2017|
|ECON630||Computational Methods in Macroeconomics||Fall 2016|
|ECON701||Advanced Macroeconomics I||Fall 2016|
|ECON325||Intermediate Macroeconomic Analysis||Fall 2015|
|ECON701||Advanced Macroeconomics I||Fall 2015||Syllabus|
- Improving GDP Measurement: A Measurement Error Perspective , S. Boragan Aruoba, Francis X. Diebold, Jeremy J. Nalewaik, Frank Schorfheide and Dongho Song , Journal of Econometrics 191(2) , 384–397 , April 2016.
- A Comparison of Programming Languages in Macroeconomics , S. Boragan Aruoba and Jesus Fernandez-Villaverde , Journal of Economic Dynamics and Control 58 , 265-273 , September 2015.
- Inflation During and After the Zero Lower Bound , S. Boragan Aruoba, Frank Schorfheide , 2015 Jackson Hole Symposium Volume , August 2015.
- A Structural Model of Electoral Accountability , S. Boragan Aruoba, Allan Drazen and Razvan Vlaicu , NBER Working Paper , April 2015.
- Homework in Monetary Economics: Inflation, Home Production and Production of Homes , S. Boragan Aruoba, Morris A. Davis and Randall Wright , Review of Economic Dynamics , November 2014.
- Term Structures of Inflation Expectations and Real Interest Rates: The Effects of Unconventional Monetary Policy , S. Boragan Aruoba , Federal Reserve Bank of Minneapolis Staff Report , August 2014.
- Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries , S. Boragan Aruoba, Pablo Cuba-Borda and Frank Schorfheide , Working paper , June 2014.
- Assessing DSGE Model Nonlinearities , S. Boragan Aruoba, Luigi Bocola and Frank Schorfheide , Working Paper , February 2014.
- A Real Economic Activity Indicator for Turkey , S. Boragan Aruoba , Central Bank Review 13(1) , 15-29 , January 2013.
- Improving GDP Measurement: A Forecast Combination Perspective , S. Boragan Aruoba, Francis X. Diebold, Jeremy J. Nalewaik, Frank Schorfheide and Dongho Song , Causality, Prediction, and Specification Analysis: Recent Advances and Future Directions: Essays in Honor of Halbert L. White Jr, ed. by X. Chen and N. Swanson, Springer , 1-25 , August 2012.
- Globalization, the Business Cycle, and Macroeconomic Monitoring , S. Boragan Aruoba, Francis X. Diebold, Ayhan Kose and Marco Terrones , NBER International Seminar on Macroeconomics , 245-286 , September 2011.
- Money, Search and Business Cycles , S. Boragan Aruoba , International Economic Review 52(3) , 935-959 , August 2011.
- Money and Capital , S. Boragan Aruoba, Christopher J. Waller and Randall D. Wright , Journal of Monetary Economics 58(2) , 98-116 , March 2011.
- Sticky Prices versus Monetary Frictions: An Estimation of Policy Trade-offs , S. Boragan Aruoba and Frank Schorfheide , American Economic Journal: Macroeconomics 3(1) , 60-90 , January 2011.
- Optimal Fiscal and Monetary Policy when Money is Essential , S. Boragan Aruoba and Sanjay K. Chugh , Journal of Economic Theory 145(5) , 1618-1647 , September 2010.
- Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions , S. Boragan Aruoba and Francis X. Diebold , American Economic Review Papers and Proceedings , May 2010.
- Informal Sector, Government Policy and Institutions , S. Boragan Aruoba , Working paper , April 2010.
- An Estimated Search-Based Monetary DSGE Model with Liquid Capital , S. Boragan Aruoba and Frank Schorfheide , Working Paper , January 2010.
- Real-Time Measurement of Business Conditions , S. Boragan Aruoba, Francis X. Diebold and Chiara Scotti , Journal of Business and Economic Statistics , January 2009.
- Data Revisions are not Well-Behaved , S. Boragan Aruoba , Journal of Money, Credit and Banking 40(2) , 319-340 , March 2008.
- Bargaining and the Value of Money , S. Boragan Aruoba, Guillaume Rocheteau and Christopher J. Waller , Journal of Monetary Economics 54(8) , 2636-2655 , November 2007.
- Comparing Solution Methods for Dynamic Equilibrium Economies , S. Boragan Aruoba, Jesus Fernandez-Villaverde and Juan F. Rubio-Ramirez , Journal of Economic Dynamics and Control 30(12) , 2477-2508 , December 2006.
- The Macroeconomy and the Yield Curve: A Dynamic Latent Factor Approach , S. Boragan Aruoba, Francis X. Diebold and Glenn D. Rudebusch , Journal of Econometrics 131(1-2) , 309-338 , March 2006.
- Moving Holidays and Seasonal Adjustment: The Case of Turkey , S. Boragan Aruoba and Emre Alper , Review of Middle East Economics and Finance 2(3) , 203-209 , December 2004.
- Search, Money and Capital: A Neoclassical Dichotomy , S. Boragan Aruoba and Randall D. Wright , Journal of Money Credit and Banking 35(6) , 1085-1105 , December 2003.
- Deseasonalizing Turkish Macroeconomic Data: A Caveat to Applied Researchers in Turkey , S. Boragan Aruoba and C. Emre Alper , Istanbul Stock Exchange Review 5(18) , 33-52 , April 2001.
Department of Economics