I am an associate professor in the department of economics at the University of Wisconsin-Madison.
Research Interests: Macroeconomics, Public Finance, International Economics
CV: [pdf]
Email: rishabh.kirpalani@wisc.edu
Published/Accepted Papers:
Exorbitant Privilege and the Sustainability of US Public Debt, with Jason Choi, Duong Dang, and Diego Perez [paper] AEA Papers and Proceedings, forthcoming
The Secular Decrease in UK Safe Asset Market Power, with Jason Choi, Duong Dang, and Diego Perez [paper] AEA Papers and Proceedings, May 2023
Strategic Investment Evaluation, with Erik Madsen [paper] Theoretical Economics, July 2023
Currency Choice in Contracts, with Andres Drenik and Diego Perez [paper] Review of Economic Studies October 2022
Reputation, Bailouts, and Interest Rate Spread Dynamics, with Alessandro Dovis [paper, appendix] AEJ: Macroeconomics, July 2022
Rules without Commitment: Reputation and Incentives, with Alessandro Dovis [paper] Review of Economic Studies, November 2021
The Hammer and the Scalpel, with V. V. Chari and Christopher Phelan [paper] Review of Economic Dynamics, October 2021
Fiscal Rules, Bailouts, and Reputation in Federal Governments, with Alessandro Dovis [paper] American Economic Review, March 2020
Working Papers:
Bond Market Views of the Fed, with Luigi Bocola, Alessandro Dovis, and Kasper Jørgensen [draft, March 2024]
US Public Debt and Safe Asset Market Power, with Jason Choi and Diego Perez [draft, July 2023] R&R, Journal of Political Economy
Unique Implementation with Market-Based Interventions, with Alessandro Dovis [draft, January 2023]
On the Efficiency of Competitive Equilibria with Pandemics, with V. V. Chari and Luis Perez [draft, March 2023]
Data Sharing and Market Power with Two-Sided Platforms, with Thomas Philippon [draft, April 2021]
Efficiency and Policy in Models with Incomplete Markets and Borrowing Constraints [draft, February 2017]
Endogenously Incomplete Markets with Equilibrium Default [draft, August 2016]
Work in Progress:
On the Optimal Delegation of Executive Discretion, with Alessandro Dovis and Guillaume Sublet
On the Design of a Robust Lender of Last Resort, with Alessandro Dovis
Efficiency and Policy in Models with Equilibrium Default
Older Papers:
Sophisticated Policies in Models with Endogenous Debt Constraints [draft, March 2015]
Multiplicity of Equilibria in Environments with Limited Commitment [draft, November 2014]
Heterogeneous Beliefs and State Space Dimensionality [draft]