Sushant Acharya

Economist, FRB New York

Working Papers


  1. Costly Information, Planning Complementarities and the Phillips Curve
    Journal of Money, Credit and Banking 49(4) 2017 [Link]
    Also available as NY Fed Working Paper 698

  2. Liquidity Traps, Capital Flows (with Julien Bengui )
    Journal of International Economics (Forthcoming)
    Latest Version
    Also available as NY Fed Working Paper 765 and CIREQ Working Paper 14-2015

Working Papers

  1. Understanding HANK: Insights from a PRANK (with Keshav Dogra)
    Available as NY Fed Working Paper 835
    [Latest Version]

  2. Replacement Hiring and the Productivity-Wage Gap (with Shu Lin Wee)
    Available as NY Fed Working Paper 860
    [Latest Version]

  3. The Side Effects of Safe Asset Creation (with Keshav Dogra)
    Available as NY Fed Working Paper 842
    [Latest Version]

  4. The Anatomy of Sentiment-Driven Fluctuations (with Jess Benhabib and Zhen Huo )
    Available as NBER Working Paper 23136
    [Latest Version]

  5. Rational Inattention in Hiring Decisions (with Shu Lin Wee)
    [Latest Version]

  6. Escaping Unemployment Traps (with Julien Bengui, Keshav Dogra and Shu Lin Wee )
    Available as NY Fed Working Paper 831
    [Latest Version]

  7. Dispersed Beliefs and Aggregate Demand Management (under Revision)

Work in Progress

  1. Changing Sentiments and Exchange Rate Predictability

  2. Macroprudential Arrangements for Currency Unions (with Julien Bengui )

Old Papers

  1. Asset Price Effects of Peer Benchmarking: Evidence from a Natural Experiment (with Alvaro Pedraza)


  1. Why Are Exchange Rates So Smooth? A Segmented Asset Markets Explanation by Chien, Lustig and Naknoi Slides

  2. The Demise of the Treaty of Detroit and (Dis)inflation Dynamics by CairĂ³ and Sim Slides

  3. A Model of Safe Asset Determination by He, Krishnamurthy and Milbradt Slides

  4. Limited Records and Credit Cycles by Kovbasyuk, Larinsky and Spagnolo Slides

  5. Market Structure and Monetary Non-Neutrality by Mongey Slides

  6. The Intertemporal Keynesian Cross by Auclert, Rognlie and Straub Slides


33 Liberty Street 
New York, NY 10045    
Email: sushant.acharya 'at' ny 'dot' frb 'dot' org

Disclaimer: The views expressed on this website are entirely those of the author(s). They do not necessarily represent the views of the Federal Reserve Bank of New York or the Federal Reserve System.