Boragan Aruoba is a 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 rate and in general on nonlinearities in macroeconomic models. On the empirical front, he works on understanding statistical properties of data revisions, the yield curve and factor models. His index for tracking business cycles, a new measure of GDP and term structure of inflation expectations are implemented by the Federal Reserve Bank of Philadelphia.
His research has been published in Review of Economic Studies, 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.
Areas of Interest
- Monetary Economics
- Computational Methods in Economics
Degree TypePhDDegree DetailsUniversity 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|
- A Structural Model of Electoral Accountability, , International Economic Review 60(2 ), May .
- Improving GDP Measurement: A Measurement Error Perspective, , Journal of Econometrics 191(2 ), 384–397, April .
- A Comparison of Programming Languages in Macroeconomics, , Journal of Economic Dynamics and Control 58, 265-273, September .
- A Structural Model of Electoral Accountability, , NBER Working Paper, April .
- Inflation During and After the Zero Lower Bound, , 2015 Jackson Hole Symposium Volume, August .
- Assessing DSGE Model Nonlinearities, , Working Paper, February .
- Homework in Monetary Economics: Inflation, Home Production and Production of Homes, , Review of Economic Dynamics, November .
- Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries, , Working paper, June .
- Term Structures of Inflation Expectations and Real Interest Rates: The Effects of Unconventional Monetary Policy, , Federal Reserve Bank of Minneapolis Staff Report, August .
- A Real Economic Activity Indicator for Turkey, , Central Bank Review 13(1 ), 15-29, January .
- Improving GDP Measurement: A Forecast Combination Perspective, , 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 .
- Globalization, the Business Cycle, and Macroeconomic Monitoring, , NBER International Seminar on Macroeconomics, 245-286, September .
- Money and Capital, , Journal of Monetary Economics 58(2 ), 98-116, March .
- Money, Search and Business Cycles, , International Economic Review 52(3 ), 935-959, August .
- Sticky Prices versus Monetary Frictions: An Estimation of Policy Trade-offs, , American Economic Journal: Macroeconomics 3(1 ), 60-90, January .
- An Estimated Search-Based Monetary DSGE Model with Liquid Capital, , Working Paper, January .
- Informal Sector, Government Policy and Institutions , , Working paper, April .
- Optimal Fiscal and Monetary Policy when Money is Essential, , Journal of Economic Theory 145(5 ), 1618-1647, September .
- Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions, , American Economic Review Papers and Proceedings, May .
- Real-Time Measurement of Business Conditions, , Journal of Business and Economic Statistics, January .
- Data Revisions are not Well-Behaved, , Journal of Money, Credit and Banking 40(2 ), 319-340, March .
- Bargaining and the Value of Money, , Journal of Monetary Economics 54(8 ), 2636-2655, November .
- Comparing Solution Methods for Dynamic Equilibrium Economies, , Journal of Economic Dynamics and Control 30(12 ), 2477-2508, December .
- The Macroeconomy and the Yield Curve: A Dynamic Latent Factor Approach, , Journal of Econometrics 131(1-2 ), 309-338, March .
- Moving Holidays and Seasonal Adjustment: The Case of Turkey, , Review of Middle East Economics and Finance 2(3 ), 203-209, December .
- Search, Money and Capital: A Neoclassical Dichotomy, , Journal of Money Credit and Banking 35(6 ), 1085-1105, December .
- Deseasonalizing Turkish Macroeconomic Data: A Caveat to Applied Researchers in Turkey, , Istanbul Stock Exchange Review 5(18 ), 33-52, April .
Pablo Cuba-BordaFederal Reserve Board of Governors