Details about J. David Lopez-Salido

E-mail:
Homepage:	http://www.federalreserve.gov/econresdata/j-david-lopez-salido.htm
Phone:	+ 1 202 452 2566
Postal address:	Board of Governors of the Federal Reserve System Division of Monetary Affairs 20th Street and Constitution Avenue N.W. Washington, D.C. 20551
Workplace:	Centre for Economic Policy Research (CEPR), (more information at EDIRC)

Access statistics for papers by J. David Lopez-Salido.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

Short-id: plo26

---

Jump to Journal Articles Books Chapters

Working Papers

2024

1. Continuity and Change in the Federal Reserve’s Perspective on Price Stability
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
2. Inflation Expectations with Finite Horizon Planning
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
3. Optimal Monetary Policy with Uncertain Private Sector Foresight
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2023

4. Nominal Rigidities and the Term Structures of Equity and Bond Returns
   Working Papers, Federal Reserve Bank of Cleveland
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) View citations (19)

2022

5. Accounting for Risk in a Linearized Solution: How to Approximate the Risky Steady State and Around It
   Working Papers, Federal Reserve Bank of Cleveland View citations (1)
6. Is Trend Inflation at Risk of Becoming Unanchored? The Role of Inflation Expectations
   FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (1)

2020

7. Inflation at Risk
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
8. Measuring the Natural Rate of Interest: The Role of Inflation Expectations
   FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
9. Short-term Planning, Monetary Policy, and Macroeconomic Persistence
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
10. Supply-Side Effects of Pandemic Mortality: Insights from an Overlapping-Generations Model
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)

2018

11. Forward Guidance with Bayesian Learning and Estimation
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (4)
12. From Taylor's Rule to Bernanke's Temporary Price Level Targeting
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (5)
13. Some Implications of Uncertainty and Misperception for Monetary Policy
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
14. The Money View Versus the Credit View
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (7)

2017

15. Hysteresis via Endogenous Rigidity in Wages and Participation
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
16. Money-Financed Fiscal Programs: A Cautionary Tale
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (10)

2016

17. Credit-Market Sentiment and the Business Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) View citations (16)
18. Financial Stability and Optimal Interest-Rate Policy
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (85)
19. Understanding the New Normal: The Role of Demographics
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (120)

2015

20. Macro-Finance Separation by Force of Habit
    2015 Meeting Papers, Society for Economic Dynamics
21. Markups, Gaps, and the Welfare Costs of Business Fluctuations
    Working Papers, Barcelona School of Economics View citations (23)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (99)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (56)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003)
    Working Papers, Banco de España (2002) View citations (52)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2005) View citations (9)
    See also Journal Article Markups, Gaps, and the Welfare Costs of Business Fluctuations, The Review of Economics and Statistics, MIT Press (2007) View citations (262) (2007)
22. Mass Population Displacement and Retail Activities in the Wake of Hurricane Katrina
    FEDS Notes, Board of Governors of the Federal Reserve System (U.S.)
23. Monetary Policy, Incomplete Information, and the Zero Lower Bound
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
24. Patterns of Convergence and Divergence in the Euro Area
    Working Papers, Barcelona School of Economics View citations (62)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (66)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2013) View citations (65)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (46)
    See also Journal Article Patterns of Convergence and Divergence in the Euro Area, IMF Economic Review, Palgrave Macmillan (2013) View citations (38) (2013)
25. Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve
    Working Papers, Barcelona School of Economics View citations (25)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (366)
    Working Papers, Banco de España (2005) View citations (367)
    See also Journal Article Robustness of the estimates of the hybrid New Keynesian Phillips curve, Journal of Monetary Economics, Elsevier (2005) View citations (377) (2005)
26. Rule-of-Thumb Consumers and the Design of Interest Rate Rules
    Working Papers, Barcelona School of Economics View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (149)
    Working Papers, Banco de España (2003) View citations (10)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (188)
27. Small Price Responses to Large Demand Shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (3)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (18)
28. The Cyclicality of Sales, Regular and Effective Prices: Comment
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) View citations (1)
29. Understanding the Effects of Government Spending on Consumption
    Working Papers, Barcelona School of Economics View citations (34)
    Also in Working Papers, Banco de España (2003) View citations (33)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2005) View citations (23)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (26)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (21)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (28)
    See also Journal Article Understanding the Effects of Government Spending on Consumption, Journal of the European Economic Association, MIT Press (2007) View citations (706) (2007)

2014

30. Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (4)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (8)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (12)
    See also Journal Article Monetary Policy and Real Borrowing Costs at the Zero Lower Bound, American Economic Journal: Macroeconomics, American Economic Association (2015) View citations (125) (2015)
    Chapter Monetary Policy and Real Borrowing Costs at the Zero Lower Bound, NBER Chapters, National Bureau of Economic Research, Inc (2013) View citations (3) (2013)

2013

31. The Federal Reserve's framework for monetary policy - recent changes and new questions
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (5)
    See also Journal Article The Federal Reserve’s Framework for Monetary Policy: Recent Changes and New Questions, IMF Economic Review, Palgrave Macmillan (2015) View citations (35) (2015)

2012

32. Individual Price Adjustment along the Extensive Margin
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (16)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (16)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2012) View citations (13)
    See also Chapter Individual Price Adjustment along the Extensive Margin, NBER Chapters, National Bureau of Economic Research, Inc (2012) View citations (22) (2012)
    Journal Article Individual Price Adjustment along the Extensive Margin, NBER Macroeconomics Annual, University of Chicago Press (2013) View citations (21) (2013)
33. The Empirical Implications of the Interest-Rate Lower Bound
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (149)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (59)
34. The Federal Reserve's large-scale asset purchase programs: rationale and effects
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (216)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (217)
    See also Journal Article The Federal Reserve's Large‐scale Asset Purchase Programmes: Rationale and Effects, Economic Journal, Royal Economic Society (2012) View citations (125) (2012)
35. The ins and outs of unemployment: An analysis conditional on technology shocks
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (12)

2010

36. Monetary Policy and the Cyclicality of Risk
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2010) View citations (3)
    See also Journal Article Monetary policy and the cyclicality of risk, Journal of Monetary Economics, Elsevier (2014) View citations (10) (2014)

2009

37. International Competition and Inflation: A New Keynesian Perspective
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2008) View citations (11)
    See also Journal Article International Competition and Inflation: A New Keynesian Perspective, American Economic Journal: Macroeconomics, American Economic Association (2010) View citations (41) (2010)
38. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    See also Journal Article Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound, International Journal of Central Banking, International Journal of Central Banking (2010) View citations (107) (2010)
39. Monetary Policy, Velocity, and the Equity Premium
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
40. Portfolio inertia and the equity premium
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (1)

2008

41. Housing Bubbles
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in 2008 Meeting Papers, Society for Economic Dynamics (2008) View citations (1)
    Working Papers, Banco de España (2008) View citations (1)
    See also Journal Article Housing Bubbles, American Economic Journal: Macroeconomics, American Economic Association (2011) View citations (42) (2011)
42. INFLATION DYNAMICS WITH SEARCH FRCTIONS: A STRUCTURAL ECONOMETRIC ANALYSIS
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (39)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (120)
    Working Paper, Federal Reserve Bank of Richmond (2008) View citations (86)
    See also Journal Article Inflation dynamics with search frictions: A structural econometric analysis, Journal of Monetary Economics, Elsevier (2008) View citations (114) (2008)
43. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (31)
    See also Journal Article Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy, Journal of Monetary Economics, Elsevier (2008) View citations (37) (2008)
44. Monetary Aggregates and Liquidity in a Neo-Wicksellian Framework
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (65)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (66)
45. Monetary and Fiscal Policy Coordination when Bonds Provide Transactions Services
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
46. Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Working Papers, Banco de España (2008) View citations (3)
    Working Papers, Federal Reserve Bank of St. Louis (2007) View citations (3)
    See also Journal Article Money and the natural rate of interest: Structural estimates for the United States and the euro area, Journal of Economic Dynamics and Control, Elsevier (2009) View citations (94) (2009)
47. On the robust effects of technology shocks on hours worked and output
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (9)
48. The Effects of Technology Shocks on Hours and Output: A Robustness Analysis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (17)
    See also Journal Article The effects of technology shocks on hours and output: a robustness analysis, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2010) View citations (65) (2010)
49. The Macroeconomic Implications of a Key Currency
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

2007

50. Do Search Frictions Matter for Inflation Dynamics?
    Kiel Working Papers, Kiel Institute for the World Economy (IfW Kiel) View citations (4)
    See also Journal Article Do search frictions matter for inflation dynamics?, European Economic Review, Elsevier (2008) View citations (13) (2008)
51. Schumpeterian technology shocks
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra View citations (10)
52. Strategic Complementarities and Optimal Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (42)
    Also in Kiel Working Papers, Kiel Institute for the World Economy (IfW Kiel) (2007) View citations (44)
    2007 Meeting Papers, Society for Economic Dynamics (2007) View citations (44)
53. The Labour Market Effects of Technology Shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    Also in Working Papers, Banco de España (2007) View citations (10)
54. The Transmission of Domestic Shocks in Open Economies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (25)
    See also Chapter The Transmission of Domestic Shocks in Open Economies, NBER Chapters, National Bureau of Economic Research, Inc (2007) View citations (24) (2007)
55. The Transmission of Domestic Shocks in the Open Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2007) View citations (15)

2006

56. House Prices, Rents and Interest Rates Under Collateral Constraints
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in Working Papers, Banco de España (2006) View citations (3)

2005

57. Inflation differentials in EMU: the Spanish case
    Working Papers, Banco de España View citations (21)
58. Sectoral mark-up dynamics in Spain
    Working Papers, Banco de España View citations (15)
59. Sticky-Price Models and the Natural Rate Hypothesis
    Working Papers, Banco de España View citations (74)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2005) View citations (65)
    See also Journal Article Sticky-price models and the natural rate hypothesis, Journal of Monetary Economics, Elsevier (2005) View citations (70) (2005)

2004

60. Money and the Natural Rate of Interest: Structural Estimates for the UK, the US and the euro area
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
61. Optimal Monetary Policy with Endogenous Capital Accumulation
    2004 Meeting Papers, Society for Economic Dynamics View citations (35)
62. Technology Shocks and Job Flows
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    Also in Working Papers, Banco de España (2003) View citations (9)
    See also Journal Article Technology Shocks and Job Flows, The Review of Economic Studies, Review of Economic Studies Ltd (2007) View citations (54) (2007)
63. Tobin's Imperfect Asset Substitution in Optimizing General Equilibrium
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (152)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2004) View citations (173)
64. Tobin's imperfect substitution in optimizing general equilibrium
    Working Papers, Banco de España View citations (18)

2003

65. Monetary Policy Implications of Endogenous Capital Accumulation
    Computing in Economics and Finance 2003, Society for Computational Economics
66. The euro area inefficiency gap
    Working Papers, Banco de España View citations (5)

2002

67. Consumption and Habits: Evidence from Panel Data
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    Also in UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2002) View citations (22)
    See also Journal Article Consumption and Habits: Evidence from Panel Data, Economic Journal, Royal Economic Society (2005) View citations (72) (2005)
68. Inflation persistence and optimal monetary policy in the Euro Area
    Working Papers, Banco de España View citations (54)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (43)
    See also Journal Article Inflation Persistence and Optimal Monetary Policy in the Euro Area, Journal of Money, Credit and Banking, Blackwell Publishing (2006) View citations (104) (2006)
69. Technology Shocks and Monetary Policy: Assessing the Fed's Performance
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (20)
    Also in Working Papers, Banco de España (2000) View citations (6)
    NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (56)
    See also Journal Article Technology shocks and monetary policy: assessing the Fed's performance, Journal of Monetary Economics, Elsevier (2003) View citations (170) (2003)
70. Understanding Spanish dual inflation
    Working Papers, Banco de España View citations (4)
    See also Journal Article Understanding Spanish dual inflation, Investigaciones Economicas, Fundación SEPI (2004) View citations (11) (2004)
71. Understanding UK inflation: the role of openness
    Bank of England working papers, Bank of England View citations (37)
72. Unobserved Heterogeneity and Intertemporal Nonseparability: Evidence from Consumption Panel Data
    10th International Conference on Panel Data, Berlin, July 5-6, 2002, International Conferences on Panel Data

2001

73. A New Phillips Curve for Spain
    Working Papers, Banco de España View citations (7)
    See also Chapter A New Phillips curve for Spain, BIS Papers chapters, Bank for International Settlements (2001) View citations (28) (2001)
74. Accounting for Spanish productivity growth using sectoral data: New Evidence
    Working Papers, Banco de España View citations (11)
75. European Inflation Dynamics
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (768)
    Also in Working Papers, Banco de España (2000) View citations (25)
    NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (798)
    See also Journal Article European inflation dynamics, European Economic Review, Elsevier (2001) View citations (767) (2001)
76. Money in an Estimated Business Cycle Model of the Euro Area
    Working Papers, Banco de España View citations (20)
    See also Journal Article Money in an Estimated Business Cycle Model of the Euro Area, Economic Journal, Royal Economic Society (2006) View citations (84) (2006)
77. Sectoral and Aggregate Technology Growth in Spain
    Working Papers, Banco de España View citations (2)
    See also Journal Article Sectoral and aggregate technology growth in Spain, Spanish Economic Review, Springer (2004) View citations (4) (2004)

2000

78. Intertemporal Substitution and the Liquidity Effect in a Sticky Price Model
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (1)
    Also in Working Papers, Banco de España (1999) View citations (6)
    See also Journal Article Intertemporal substitution and the liquidity effect in a sticky price model, European Economic Review, Elsevier (2002) View citations (8) (2002)
79. Measuring the NAIRU in the Spanish Economy
    Working Papers, Banco de España View citations (24)

1999

80. The Liquidity Effect in a Small Open Economy Model
    Working Papers, Banco de España View citations (1)
    Also in Studies on the Spanish Economy, FEDEA
81. The Role of the Financial System in the Growth-Inflation Link: the OECD Experience
    Working Papers, Banco de España View citations (12)
    See also Journal Article The role of the financial system in the growth-inflation link: the OECD experience, European Journal of Political Economy, Elsevier (2004) View citations (19) (2004)
82. The dynamic effects of shocks to labour markets: evidence from OECD countries
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía
    See also Journal Article The Dynamic Effects of Shocks to Labour Markets: Evidence from OECD Countries, Oxford Economic Papers, Oxford University Press (2000) View citations (57) (2000)

1998

83. A Switching-Regime Model for the Spanish Inflation: 1962-1997
    Working Papers, Banco de España
84. Disinflation, Output and Unemployment: The Case of Spain
    Working Papers, Banco de España View citations (2)
85. The Long-Run Effect of Permanent Disinflations
    Working Papers, Banco de España View citations (4)

1997

86. Are Ex-Post Real Interest Rates a Good Proxy for Ex-Ante Real Rates? An International Comparison with a CCAPM Framework
    Working Papers, Banco de España
87. Spanish Unemployment and Inflation Persistence: Are There Phillips Trade-Offs?
    Working Papers, Banco de España View citations (4)
    Also in UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (1997) View citations (1)
88. When May Peseta Depreciations Fuel Inflation?
    Working Papers, Banco de España View citations (1)

1996

89. Hysteresis and Economic Fluctuations (Spain, 1970-94)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
90. Hysteresis and the Sources of Shocks: A Cross-Country Analysis
    Working Papers, Centro de Estudios Monetarios Y Financieros- View citations (2)
91. Short- and Long-run Phillips Trade-offs and the Cost of Disinflationary Policies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
92. What Does Consumption Tell Us about Inflation Expectations and Real Interest Rates?
    Working Papers, Banco de España

1995

93. Consumption Behavior and Signal Extraction from Individual Income
    Working Papers, Centro de Estudios Monetarios Y Financieros-
94. Learning About Intertemporal Susbtitution in Comsumption from Alternative Data and Preference Specifications: The Case of Spain
    Working Papers, Centro de Estudios Monetarios Y Financieros-
95. Time Non-Separabilities in Preferences: A Household Data Analysis
    Working Papers, Centro de Estudios Monetarios Y Financieros- View citations (2)

Undated

96. Inflation regimes and stabilization policies, Spain 1962-1997
    Studies on the Spanish Economy, FEDEA

Journal Articles

2015

1. Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
   American Economic Journal: Macroeconomics, 2015, 7, (1), 77-109 View citations (125)
   See also Working Paper Monetary Policy and Real Borrowing Costs at the Zero Lower Bound, NBER Working Papers (2014) View citations (12) (2014)
   Chapter Monetary Policy and Real Borrowing Costs at the Zero Lower Bound, NBER Chapters, 2013 (2013) View citations (3) (2013)
2. The Federal Reserve’s Framework for Monetary Policy: Recent Changes and New Questions
   IMF Economic Review, 2015, 63, (1), 22-70 View citations (35)
   See also Working Paper The Federal Reserve's framework for monetary policy - recent changes and new questions, Finance and Economics Discussion Series (2013) View citations (5) (2013)

2014

3. Monetary policy and the cyclicality of risk
   Journal of Monetary Economics, 2014, 62, (C), 59-75 View citations (10)
   See also Working Paper Monetary Policy and the Cyclicality of Risk, CEPR Discussion Papers (2010) View citations (6) (2010)

2013

4. Individual Price Adjustment along the Extensive Margin
   NBER Macroeconomics Annual, 2013, 27, (1), 235 - 281 View citations (21)
   See also Chapter Individual Price Adjustment along the Extensive Margin, NBER Chapters, 2012, 235-281 (2012) View citations (22) (2012)
   Working Paper Individual Price Adjustment along the Extensive Margin, CEPR Discussion Papers (2012) View citations (16) (2012)
5. Key currency status: An exorbitant privilege and an extraordinary risk
   Journal of International Money and Finance, 2013, 37, (C), 371-393 View citations (16)
6. Patterns of Convergence and Divergence in the Euro Area
   IMF Economic Review, 2013, 61, (4), 601-630 View citations (38)
   See also Working Paper Patterns of Convergence and Divergence in the Euro Area, Working Papers (2015) View citations (62) (2015)
7. The Ins and Outs of Unemployment: An Analysis Conditional on Technology Shocks-super-
   Economic Journal, 2013, 123, 515-539 View citations (28)

2012

8. The Federal Reserve's Large‐scale Asset Purchase Programmes: Rationale and Effects
   Economic Journal, 2012, 122, (564), F415-F446 View citations (125)
   See also Working Paper The Federal Reserve's large-scale asset purchase programs: rationale and effects, Finance and Economics Discussion Series (2012) View citations (216) (2012)

2011

9. Housing Bubbles
   American Economic Journal: Macroeconomics, 2011, 3, (1), 212-41 View citations (42)
   See also Working Paper Housing Bubbles, CEPR Discussion Papers (2008) View citations (1) (2008)
10. The role of liquid government bonds in the great transformation of American monetary policy
    Journal of Economic Dynamics and Control, 2011, 35, (3), 282-294 View citations (18)

2010

11. International Competition and Inflation: A New Keynesian Perspective
    American Economic Journal: Macroeconomics, 2010, 2, (4), 247-80 View citations (41)
    See also Working Paper International Competition and Inflation: A New Keynesian Perspective, CEPR Discussion Papers (2009) View citations (12) (2009)
12. Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound
    International Journal of Central Banking, 2010, 6, (1), 143-189 View citations (107)
    See also Working Paper Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound, CEPR Discussion Papers (2009) View citations (9) (2009)
13. The effects of technology shocks on hours and output: a robustness analysis
    Journal of Applied Econometrics, 2010, 25, (5), 755-773 View citations (65)
    See also Working Paper The Effects of Technology Shocks on Hours and Output: A Robustness Analysis, CEPR Discussion Papers (2008) View citations (17) (2008)

2009

14. Money and the natural rate of interest: Structural estimates for the United States and the euro area
    Journal of Economic Dynamics and Control, 2009, 33, (3), 758-776 View citations (94)
    See also Working Paper Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area, CEPR Discussion Papers (2008) View citations (1) (2008)

2008

15. Do search frictions matter for inflation dynamics?
    European Economic Review, 2008, 52, (8), 1464-1479 View citations (13)
    See also Working Paper Do Search Frictions Matter for Inflation Dynamics?, Kiel Working Papers (2007) View citations (4) (2007)
16. Inflation dynamics with search frictions: A structural econometric analysis
    Journal of Monetary Economics, 2008, 55, (5), 892-916 View citations (114)
    See also Working Paper INFLATION DYNAMICS WITH SEARCH FRCTIONS: A STRUCTURAL ECONOMETRIC ANALYSIS, CAMA Working Papers (2008) View citations (39) (2008)
17. Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy
    Journal of Monetary Economics, 2008, 55, (Supplement 1), S48-S62 View citations (37)
    See also Working Paper Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy, Working Papers (2008) View citations (31) (2008)

2007

18. Markups, Gaps, and the Welfare Costs of Business Fluctuations
    The Review of Economics and Statistics, 2007, 89, (1), 44-59 View citations (262)
    See also Working Paper Markups, Gaps, and the Welfare Costs of Business Fluctuations, Working Papers (2015) View citations (23) (2015)
19. Technology Shocks and Job Flows
    The Review of Economic Studies, 2007, 74, (4), 1195-1227 View citations (54)
    See also Working Paper Technology Shocks and Job Flows, CEPR Discussion Papers (2004) View citations (9) (2004)
20. Understanding the Effects of Government Spending on Consumption
    Journal of the European Economic Association, 2007, 5, (1), 227-270 View citations (706)
    Also in Proceedings, 2003 (2003) View citations (1)
    See also Working Paper Understanding the Effects of Government Spending on Consumption, Working Papers (2015) View citations (34) (2015)

2006

21. Inflation Persistence and Optimal Monetary Policy in the Euro Area
    Journal of Money, Credit and Banking, 2006, 38, (3), 587-614 View citations (104)
    See also Working Paper Inflation persistence and optimal monetary policy in the Euro Area, Working Papers (2002) View citations (54) (2002)
22. Inflation differentials in the euro area: the case of the Spanish economy
    Economic Bulletin, 2006, (JAN), 95-106
23. Money in an Estimated Business Cycle Model of the Euro Area
    Economic Journal, 2006, 116, (511), 457-477 View citations (84)
    See also Working Paper Money in an Estimated Business Cycle Model of the Euro Area, Working Papers (2001) View citations (20) (2001)
24. Una nota teórica sobre el papel del acceso al crédito en el comportamiento del precio de la vivienda
    Boletín Económico, 2006, (JUN), 67-74

2005

25. Consumption and Habits: Evidence from Panel Data
    Economic Journal, 2005, 115, (500), 144-165 View citations (72)
    See also Working Paper Consumption and Habits: Evidence from Panel Data, CEPR Discussion Papers (2002) View citations (12) (2002)
26. Inflación, productividad y márgenes sectoriales
    Boletín Económico, 2005, (APR), 77-84
27. Los diferenciales de inflación en la UEM: el caso de la economía española
    Boletín Económico, 2005, (NOV), 79-91 View citations (2)
28. Robustness of the estimates of the hybrid New Keynesian Phillips curve
    Journal of Monetary Economics, 2005, 52, (6), 1107-1118 View citations (377)
    See also Working Paper Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve, Working Papers (2015) View citations (25) (2015)
29. Sticky-price models and the natural rate hypothesis
    Journal of Monetary Economics, 2005, 52, (5), 1025-1053 View citations (70)
    See also Working Paper Sticky-Price Models and the Natural Rate Hypothesis, Working Papers (2005) View citations (74) (2005)

2004

30. Endogenous monetary policy and the liquidity effect
    Spanish Economic Review, 2004, 6, (3), 159-178
31. Sectoral and aggregate technology growth in Spain
    Spanish Economic Review, 2004, 6, (1), 3-27 View citations (4)
    See also Working Paper Sectoral and Aggregate Technology Growth in Spain, Working Papers (2001) View citations (2) (2001)
32. The role of the financial system in the growth-inflation link: the OECD experience
    European Journal of Political Economy, 2004, 20, (4), 941-961 View citations (19)
    See also Working Paper The Role of the Financial System in the Growth-Inflation Link: the OECD Experience, Working Papers (1999) View citations (12) (1999)
33. Understanding Spanish dual inflation
    Investigaciones Economicas, 2004, 28, (1), 123-140 View citations (11)
    See also Working Paper Understanding Spanish dual inflation, Working Papers (2002) View citations (4) (2002)

2003

34. Erratum to "European inflation dynamics": [European Economic Review 45 (2001), 1237-1270]
    European Economic Review, 2003, 47, (4), 759-760 View citations (32)
35. Inflation regimes and stabilisation policies: Spain 1962-2001
    Investigaciones Economicas, 2003, 27, (3), 615-631 View citations (1)
36. Inversión, progreso técnico y empleo
    Boletín Económico, 2003, (JUL), 95-98
37. Technology shocks and monetary policy: assessing the Fed's performance
    Journal of Monetary Economics, 2003, 50, (4), 723-743 View citations (170)
    See also Working Paper Technology Shocks and Monetary Policy: Assessing the Fed's Performance, CEPR Discussion Papers (2002) View citations (20) (2002)

2002

38. Intertemporal substitution and the liquidity effect in a sticky price model
    European Economic Review, 2002, 46, (8), 1399-1421 View citations (8)
    See also Working Paper Intertemporal Substitution and the Liquidity Effect in a Sticky Price Model, Econometric Society World Congress 2000 Contributed Papers (2000) View citations (1) (2000)
39. La dinámica de los márgenes en España. Una primera aproximación con datos agregados
    Investigaciones Economicas, 2002, 26, (1), 59-85 View citations (1)

2001

40. European inflation dynamics
    European Economic Review, 2001, 45, (7), 1237-1270 View citations (767)
    See also Working Paper European Inflation Dynamics, CEPR Discussion Papers (2001) View citations (768) (2001)
41. La contribución de los factores productivos al crecimiento económico en España: un análisis desagregado
    Boletín Económico, 2001, (FEB), 47-55 View citations (2)
42. La inflación dual en la economía española: la importancia relativa del progreso tecnológico y de la estructura de mercado
    Boletín Económico, 2001, (MAY), 31-35
43. Unemployment and inflation persistence in Spain: Are there Phillips trade-offs?
    Spanish Economic Review, 2000, 2, (3), 267-291 View citations (4)

2000

44. Crecimiento, inflación y desarrollo del sistema financiero en la OCDE
    Boletín Económico, 2000, (FEB), 69-75
45. La dinámica de la inflación en el área del euro
    Boletín Económico, 2000, (DEC), 43-47
46. The Dynamic Effects of Shocks to Labour Markets: Evidence from OECD Countries
    Oxford Economic Papers, 2000, 52, (1), 3-23 View citations (57)
    See also Working Paper The dynamic effects of shocks to labour markets: evidence from OECD countries, UC3M Working papers. Economics (1999) (1999)
47. When may depreciations fuel inflation? An application to the Spanish case
    Applied Economics, 2000, 32, (8), 1037-1049 View citations (1)

1993

48. Consumo y ciclo vital: resultados para España con datos de panel
    Investigaciones Economicas, 1993, 17, (2), 285-312 View citations (2)

Books

1999

1. Assessing the benefits of price stability: The international experience
   Estudios Económicos, Banco de España

Chapters

2013

1. Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
   A chapter in Lessons from the Financial Crisis for Monetary Policy, 2013 View citations (3)
   See also Journal Article Monetary Policy and Real Borrowing Costs at the Zero Lower Bound, American Economic Association (2015) View citations (125) (2015)
   Working Paper Monetary Policy and Real Borrowing Costs at the Zero Lower Bound, National Bureau of Economic Research, Inc (2014) View citations (12) (2014)

2012

2. Individual Price Adjustment along the Extensive Margin
   A chapter in NBER Macroeconomics Annual 2012, Volume 27, 2012, pp 235-281 View citations (22)
   See also Working Paper Individual Price Adjustment along the Extensive Margin, C.E.P.R. Discussion Papers (2012) View citations (16) (2012)
   Journal Article Individual Price Adjustment along the Extensive Margin, University of Chicago Press (2013) View citations (21) (2013)

2007

3. The Transmission of Domestic Shocks in Open Economies
   A chapter in International Dimensions of Monetary Policy, 2007, pp 89-148 View citations (24)
   See also Working Paper The Transmission of Domestic Shocks in Open Economies, C.E.P.R. Discussion Papers (2007) View citations (25) (2007)

2006

4. Comparative analysis: real convergence, cyclical synchrony and inflation differentials
   Chapter 15 in The analysis of the Spanish Economy, 2006, pp 409-433 View citations (1)
5. Productivity, factor use and potential growth
   Chapter 16 in The analysis of the Spanish Economy, 2006, pp 437-460 View citations (1)

2001

6. A New Phillips curve for Spain
   A chapter in Empirical studies of structural changes and inflation, 2001, vol. 03, pp 174-203 View citations (28)
   See also Working Paper A New Phillips Curve for Spain, Banco de España (2001) View citations (7) (2001)