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Details about Jeffrey C. Fuhrer

E-mail:
Phone:617-973-3410
Postal address:Federal Reserve Bank of Boston 600 Atlantic Avenue Boston, MA 02210
Workplace:Economic Research, Federal Reserve Bank of Boston, (more information at EDIRC)

Access statistics for papers by Jeffrey C. Fuhrer.

Last updated 2015-06-29. Update your information in the RePEc Author Service.

Short-id: pfu8


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Working Papers

2015

  1. Expectations as a source of macroeconomic persistence: an exploration of firms' and households' expectation formation
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (1)

2012

  1. Real expectations: replacing rational expectations with survey expectations in dynamic macro models
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (2)

2011

  1. Inflation dynamics when inflation is near zero
    Working Papers, Federal Reserve Bank of Boston Downloads
    See also Journal Article in Journal of Money, Credit and Banking (2012)
  2. The role of expectations in U. S. inflation dynamics
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (1)

2009

  1. Empirical estimates of changing inflation dynamics
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (11)
  2. Inflation persistence
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (15)
    See also Chapter (2010)

2006

  1. Intrinsic and Inherited Inflation Persistence
    MPRA Paper, University Library of Munich, Germany Downloads View citations (56)
    Also in Working Papers, Federal Reserve Bank of Boston (2005) Downloads View citations (11)

    See also Journal Article in International Journal of Central Banking (2006)

2004

  1. Estimating forward looking Euler equations with GMM estimators: an optimal instruments approach
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (15)
    See also Journal Article in Proceedings (2005)
  2. Eyes on the prize: how did the Fed respond to the stock market?
    Public Policy Discussion Paper, Federal Reserve Bank of Boston Downloads View citations (12)
    See also Journal Article in Journal of Monetary Economics (2008)

2002

  1. Estimating the Euler equation for output
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (13)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2002) Downloads View citations (2)

    See also Journal Article in Journal of Monetary Economics (2004)

2001

  1. Optimal monetary policy in a model with habit formation and explicit tax distortions
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (1)

2000

  1. OPTIMAL MONETARY POLICY IN A MODEL WITH HABIT FORMATION
    Computing in Economics and Finance 2000, Society for Computational Economics View citations (21)
    Also in Working Papers, Federal Reserve Bank of Boston (2000) Downloads View citations (21)

1999

  1. Are "deep" parameters stable? the Lucas critique as an empirical hypothesis
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (46)
    Also in Computing in Economics and Finance 1999, Society for Computational Economics (1999) Downloads View citations (14)

1998

  1. An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?
    RBA Research Discussion Papers, Reserve Bank of Australia Downloads View citations (9)
    Also in Working Papers, Federal Reserve Bank of Boston (1998) Downloads View citations (17)
  2. Dynamic inconsistencies: counterfactual implications of a class of rational expectations models
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (43)
    See also Journal Article in American Economic Review (2002)
  3. Risky Habits: On Risk Sharing, Habit Formation, and the Interpretation of International Consumption Correlations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
    See also Journal Article in Review of International Economics (2006)

1996

  1. Computationally efficient solution and maximum likelihood estimation of nonlinear rational expectation models
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (5)
    Also in Computing in Economics and Finance 1997, Society for Computational Economics Downloads View citations (3)
  2. Towards a compact, empirically verified rational expectations model for monetary policy analysis
    Working Papers, Federal Reserve Bank of Boston Downloads
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1997)

1995

  1. Modeling long-term nominal interest rates
    Working Papers, Federal Reserve Bank of Boston Downloads
  2. The [un]importance of forward-looking behavior in price specifications
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (41)
    See also Journal Article in Journal of Money, Credit and Banking (1997)

1994

  1. Monetary policy when interest rates are bounded at zero
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (2)
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1994) View citations (3)

    See also Journal Article in The Review of Economics and Statistics (1997)
  2. Optimal monetary policy in a model of overlapping price contracts
    Working Papers, Federal Reserve Bank of Boston Downloads View citations (3)

1993

  1. Estimating the linear-quadratic inventory model: maximum likelihood versus generalized method of moments
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (3)
    See also Journal Article in Journal of Monetary Economics (1995)
  2. Inflation persistence
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Proceedings (1993)
  3. Monetary policy and the behavior of long-term interest rates
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (3)
  4. Monetary policy and the behavior of long-term real interest rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (5)
    See also Journal Article in New England Economic Review (1995)

1991

  1. Does consumer sentiment affect household spending? If so why?
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
    See also Software Item (1994)
    Journal Article in American Economic Review (1994)

1989

  1. Monetary policy rules and the indicator properties of asset prices
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Journal of Monetary Economics (1992)
  2. The stability of Wicksell's monetary policy rule
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)

1988

  1. "Animal Spirits" in consumer expectations: filtering the information in consumer survey expectations
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
  2. Estimating time-varying parameters in a nonlinear multivariate model: inferring changes in expectation behavior over time
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
  3. Learning about monetary regime shifts in an overlapping wage contract model
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
    See also Journal Article in Journal of Economic Dynamics and Control (1993)

1987

  1. Minimum variance pooling of forecasts at different levels of aggregation
    Special Studies Papers, Board of Governors of the Federal Reserve System (U.S.)

1983

  1. Average Marginal Tax Rates U.S. Household Interest and Dividend Income 1954-80
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)

Journal Articles

2012

  1. Inflation Dynamics When Inflation Is Near Zero
    Journal of Money, Credit and Banking, 2012, 44, 83-122 Downloads View citations (6)
    See also Working Paper (2011)

2011

  1. Inflation expectations and the evolution of U. S. inflation
    Public Policy Brief, 2011 Downloads
  2. The estimated macroeconomic effects of the Federal Reserve's large-scale Treasury purchase program
    Public Policy Brief, 2011 Downloads View citations (3)

2010

  1. The role of expectations and output in the inflation process: an empirical assessment
    Public Policy Brief, 2010 Downloads View citations (5)

2009

  1. A proposal to help distressed homeowners: a government payment-sharing plan
    Public Policy Brief, 2009 Downloads View citations (7)

2008

  1. Eyes on the prize: How did the fed respond to the stock market?
    Journal of Monetary Economics, 2008, 55, (4), 796-805 Downloads View citations (23)
    See also Working Paper (2004)
  2. Special issue comment on optimal price setting and inflation inertia in a rational expectations model
    Journal of Economic Dynamics and Control, 2008, 32, (8), 2536-2542 Downloads View citations (2)

2006

  1. Intrinsic and Inherited Inflation Persistence
    International Journal of Central Banking, 2006, 2, (3) Downloads View citations (54)
    See also Working Paper (2006)
  2. Risky Habits: on Risk Sharing, Habit Formation, and the Interpretation of International Consumption Correlations
    Review of International Economics, 2006, 14, (4), 722-740 Downloads View citations (10)
    See also Working Paper (1998)

2005

  1. Estimating forward-looking Euler equations with GMM estimators: an optimal-instruments approach
    Proceedings, 2005, 87-114 Downloads View citations (7)
    See also Working Paper (2004)

2004

  1. Empirical and policy performance of a forward-looking monetary model, comments
    Proceedings, 2004, (Mar) Downloads
  2. Estimating the Euler equation for output
    Journal of Monetary Economics, 2004, 51, (6), 1133-1153 Downloads View citations (166)
    See also Working Paper (2002)
  3. Issues in economics: what is the cost of deflation?
    Regional Review, 2004, (Q 4 2003 / Q1 2004), 2-5 Downloads View citations (1)

2003

  1. Monetary Policy Shifts and the Stability of Monetary Policy Models
    The Review of Economics and Statistics, 2003, 85, (1), 94-104 Downloads View citations (78)

2002

  1. Dynamic Inconsistencies: Counterfactual Implications of a Class of Rational-Expectations Models
    American Economic Review, 2002, 92, (4), 1013-1028 Downloads View citations (182)
    See also Working Paper (1998)
  2. The domestic economic outlook
    Conference Series ; [Proceedings], 2002, (Jun) Downloads

2000

  1. Conference summary
    Conference Series ; [Proceedings], 2000
  2. Habit Formation in Consumption and Its Implications for Monetary-Policy Models
    American Economic Review, 2000, 90, (3), 367-390 Downloads View citations (584)
  3. Monetary Policy in a Low-Inflation Environment: Conference Summary
    Journal of Money, Credit and Banking, 2000, 32, (4), 845-69 View citations (5)
  4. Monetary policy in a low-inflation environment: a conference sponsored by the Federal Reserve Banks of Boston, New York, Cleveland, Richmond, Atlanta, St. Louis, and Minneapolis, and the Board of Governors of the Federal Reserve System, October 18-20, 1999
    Conference Series ; [Proceedings], 2000 View citations (4)
  5. Near-rationality and inflation in two monetary regimes, comments
    Proceedings, 2000 Downloads View citations (1)

1999

  1. New data on worker flows during business cycles
    New England Economic Review, 1999, (Jul), 49-76 Downloads View citations (47)

1998

  1. Beyond shocks: what causes business cycles?
    Conference Series ; [Proceedings], 1998, 42, (Jun) Downloads View citations (21)
  2. Beyond shocks: what causes business cycles? an overview
    New England Economic Review, 1998, (Nov), 3-24 Downloads View citations (5)
    Also in Conference Series ; [Proceedings], 1998, 42, (Jun), 1-31 (1998) Downloads View citations (4)

1997

  1. Central bank independence and inflation targeting: monetary policy paradigms for the next millenium?
    New England Economic Review, 1997, (Jan), 19-36 Downloads View citations (20)
  2. Inflation/Output Variance Trade-Offs and Optimal Monetary Policy
    Journal of Money, Credit and Banking, 1997, 29, (2), 214-34 View citations (84)
  3. Monetary Policy When Interest Rates Are Bounded At Zero
    The Review of Economics and Statistics, 1997, 79, (4), 573-585 Downloads View citations (101)
    See also Working Paper (1994)
  4. Shifts in the Beveridge Curve, job matching, and labor market dynamics
    New England Economic Review, 1997, (Sep), 3-19 Downloads View citations (32)
  5. The (Un)Importance of Forward-Looking Behavior in Price Specifications
    Journal of Money, Credit and Banking, 1997, 29, (3), 338-50 View citations (234)
    See also Working Paper (1995)
  6. Towards a compact, empirically-verified rational expectations model for monetary policy analysis
    Carnegie-Rochester Conference Series on Public Policy, 1997, 47, (1), 197-230 Downloads View citations (7)
    See also Working Paper (1996)

1996

  1. Teaching economics
    Regional Review, 1996, (Sum), 5 Downloads
  2. Technology and growth: an overview
    New England Economic Review, 1996, (Nov), 3-25 Downloads View citations (1)
    Also in Conference Series ; [Proceedings], 1996, 40, (Jun), 1-32 (1996) Downloads View citations (1)
  3. Technology and growth: conference proceedings
    Conference Series ; [Proceedings], 1996, 40, (Jun) Downloads View citations (3)

1995

  1. Estimating the linear-quadratic inventory model Maximum likelihood versus generalized method of moments
    Journal of Monetary Economics, 1995, 35, (1), 115-157 Downloads View citations (83)
    See also Working Paper (1993)
  2. Forward-Looking Behavior and the Stability of a Conventional Monetary Policy Rule
    Journal of Money, Credit and Banking, 1995, 27, (4), 1060-70 Downloads View citations (28)
  3. Monetary Policy Trade-offs and the Correlation between Nominal Interest Rates and Real Output
    American Economic Review, 1995, 85, (1), 219-39 View citations (200)
  4. Monetary policy and the behavior of long-term real interest rates
    New England Economic Review, 1995, (Sep), 39-52 Downloads View citations (2)
    Also in Proceedings, 1993, (Mar) (1993) View citations (4)

    See also Working Paper (1993)
  5. The Phillips curve is alive and well
    New England Economic Review, 1995, (Mar), 41-56 Downloads View citations (68)
  6. The persistence of inflation and the cost of disinflation
    New England Economic Review, 1995, (Jan), 3-16 Downloads View citations (15)

1994

  1. A semi-classical model of price-level adjustment a comment
    Carnegie-Rochester Conference Series on Public Policy, 1994, 41, (1), 285-294 Downloads
  2. Does Consumer Sentiment Forecast Household Spending? If So, Why?
    American Economic Review, 1994, 84, (5), 1397-1408 Downloads View citations (193)
    See also Software Item (1994)
    Working Paper (1991)
  3. Goals, guidelines and constraints facing monetary policymakers: proceedings of a conference held at North Falmouth, Massachusetts in June 1994
    Conference Series ; [Proceedings], 1994, 38 Downloads
  4. Goals, guidelines, and constraints facing monetary policymakers: an overview
    New England Economic Review, 1994, (Sep), 3-15 Downloads View citations (8)
  5. Optimal monetary policy and the sacrifice ratio
    Conference Series ; [Proceedings], 1994, 38, 43-84 Downloads View citations (15)

1993

  1. Commodity prices, the term structure of interest rates, and exchange rates: useful indicators for monetary policy?
    New England Economic Review, 1993, (Nov), 18-32 Downloads View citations (2)
  2. Inflation persistence
    Proceedings, 1993, (Mar) View citations (2)
    Also in Proceedings, 1993 (1993) Downloads View citations (2)

    See also Working Paper (1993)
  3. Learning about monetary regime shifts in an overlapping wage contract model
    Journal of Economic Dynamics and Control, 1993, 17, (4), 531-553 Downloads View citations (20)
    See also Working Paper (1988)
  4. What role does consumer sentiment play in the U.S. macroeconomy?
    New England Economic Review, 1993, (Jan), 32-44 Downloads View citations (25)

1992

  1. Do consumers behave as the life-cycle/permanent-income theory of consumption predicts?
    New England Economic Review, 1992, (Sep), 3-14 Downloads View citations (2)
  2. Inferring Changes in Expectation Behavior over Time: An Application of Nonlinear Time-Varying-Parameters Estimation
    Journal of Business & Economic Statistics, 1992, 10, (2), 169-77 View citations (1)
  3. Monetary policy rules and the indicator properties of asset prices
    Journal of Monetary Economics, 1992, 29, (2), 303-336 Downloads View citations (52)
    See also Working Paper (1989)

1991

  1. A Multivariate Posterior Odds Approach to Assessing Competing Exchange Rate Models
    The Review of Economics and Statistics, 1991, 73, (1), 113-24 Downloads

1990

  1. The transmission channels of monetary policy: how have they changed?
    Federal Reserve Bulletin, 1990, (Dec), 985-1008 View citations (24)

1988

  1. Estimation of time-varying weights on alternative expectations models: An application of non-linear time-varying parameter estimation
    Journal of Economic Dynamics and Control, 1988, 12, (1), 55-61 Downloads
  2. On the Information Content of Consumer Survey Expectations
    The Review of Economics and Statistics, 1988, 70, (1), 140-44 Downloads View citations (8)

Edited books

2009

  1. Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective, vol 1
    MIT Press Books, The MIT Press View citations (9)

Chapters

2010

  1. Inflation Persistence
    Chapter 09 in Handbook of Monetary Economics, 2010, vol. 3, pp 423-486 Downloads View citations (5)
    See also Working Paper (2009)

Software Items

1994

  1. RATS code for Does Consumer Sentiment Forecast Household Spending? If So, Why?
    QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles Downloads
    See also Journal Article in American Economic Review (1994)
    Working Paper (1991)
 
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