Pablo Ottonello

Pablo Ottonello

Physical capital, like labour, can be "unemployed" — sitting idle while its owner searches for a buyer or tenant — and this paper documents that in the United States such idle capital is large, …

Pablo Ottonello · Thomas Winberry

Combining high-frequency-identified monetary shocks with Compustat data, the paper shows that low-default-risk firms -- those with lower leverage and higher distance to default -- are substantially …

Aimé Bierdel · Andres Drenik · Juan Herreño · Pablo Ottonello

The paper develops a quantitative capital-accumulation model in which capital trades in illiquid markets with asymmetric information — sellers know the quality of their capital but buyers do not. It …

Xing Guo · Pablo Ottonello · Diego J. Perez

This paper builds an open-economy heterogeneous-agent New Keynesian (HANK) model in which households differ not only in income and wealth but in their real integration (tradable vs. nontradable …