Working Papers

The Mortgage Debt Channel of Monetary Policy when Mortgages are Liquid

Matthew Elias, Christian Gillitzer, Greg Kaplan, Gianni la Cava, and Nalini Prasad
February 2026 Version • November 2025 Version • BFI Non-technical Summary

A Note on Equilibrium Uniqueness in New Keynesian Models and Implications for the Fiscal Theory of the Price Level

Greg Kaplan
March 2026 Version • September 2025 Version

Fiscal-Monetary Interactions in the 2020’s: Some Insights from HANK Models

Greg Kaplan
(Prepared for Reserve Bank of Australia and Treasury Joint Conference on Monetary and Fiscal Interactions)
September 2025 Version

Implications of Fiscal-Monetary Interaction from HANK Models

Greg Kaplan
(Econometric Society World Congress semi-plenary lecture)
September 2025 Submitted Version • August 2025 (NBER Working Paper) Version

Evaluating Recent Crackdowns on Disability Benefits: Effects on Income and Health Care Use in Australia

Manasi Deshpande, Greg Kaplan and Tobias Leigh-Wood
July 2025 Version • April 2025 Version • Non-technical Summary

Price Level and Inflation Dynamics in Heterogeneous Agent Economies

Greg Kaplan, Georgios Nikolakoudis and Gianluca Violante
January 2026 Version • Non-technical Summary
August 2023 Version: Main Text • Online Appendix • Not For Publication Supplementary Appendix
June 2023 Version‍ ‍

Markups, Labor Market Inequality and the Nature of Work

Greg Kaplan and Piotr Zoch
Non-technical Summary
April 2026 Version • December 2024 Version • May 2022 Version • February 2020 Version

The Great Lockdown and the Big Stimulus: Tracing the Pandemic Possibility Frontier for the U.S.

Zhiyu Fu, Greg Kaplan, Ben Moll and Gianluca Violante
September 2020 Version • Non-technical Summary
Summary Fact: Occupation Effects
Summary Fact: CARES Act
Summary Fact: Pigouvian Taxes

PROJECTS IN PROGRESS

Lots of interesting stuff going on. I tend to present my work before I write it up and post it online. Send me an email if you are interested to know what I’m working on!