Details about Klaus Adam

Access statistics for papers by Klaus Adam.

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Working Papers

2023

1. Inflation Distorts Relative Prices: Theory and Evidence
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2023) View citations (1)

2022

2. Expectations Data in Asset Pricing
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   Also in CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2022) View citations (4)
3. Subjective Housing Price Expectations, Falling Natural Rates and the Optimal Inflation Target
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2021

4. The Case for a Positive Euro Area Inflation Target: Evidence From France, Germany and Italy
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany View citations (4)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
   Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2021) View citations (4)
   Working papers, Banque de France (2021) View citations (4)
   Working Paper Series, European Central Bank (2021) View citations (4)
   Discussion Papers, Deutsche Bundesbank (2021) View citations (4)
   See also Journal Article in Journal of Monetary Economics (2022)

2020

5. Estimating the Optimal Inflation Target From Trends in Relative Prices
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany View citations (8)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (8)
   Working Paper Series, European Central Bank (2020) View citations (8)
   See also Journal Article in American Economic Journal: Macroeconomics (2023)
6. Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany View citations (14)
7. Monetary Policy Challenges From Falling Natural Interest Rates
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany View citations (3)
8. Robustly Optimal Monetary Policy in a New Keynesian Model With Housing
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany View citations (1)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (1)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (1)
   CESifo Working Paper Series, CESifo (2020) View citations (1)
   See also Journal Article in Journal of Economic Theory (2021)
9. Zur Reform der Einlagensicherung: Elemente einer anreizkompatiblen Europäischen Rückversicherung
   SAFE White Paper Series, Leibniz Institute for Financial Research SAFE

2019

10. Do Survey Expectations of Stock Returns Reflect Risk Adjustments?
    Staff Working Papers, Bank of Canada View citations (4)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2018) View citations (6)
    2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (2)
    CESifo Working Paper Series, CESifo (2018) View citations (6)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (6)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (10)
    See also Journal Article in Journal of Monetary Economics (2021)
11. Price Trends Over the Product Life Cycle and the Optimal Inflation Target
    CESifo Working Paper Series, CESifo View citations (1)
    Also in 2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (1)
    Discussion Papers, Deutsche Bundesbank (2019) View citations (1)
12. Stock Price Cycles and Business Cycles
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (15)
    Also in Working Paper Series, European Central Bank (2019) View citations (14)
    CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2019) View citations (15)

2018

13. Leaning Against Housing Prices as Robustly Optimal Monetary Policy
    CESifo Working Paper Series, CESifo View citations (10)
    Also in CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2018) View citations (9)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (10)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2018) View citations (10)
14. Optimal Trend Inflation
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (4)
    Also in 2018 Meeting Papers, Society for Economic Dynamics (2018) View citations (4)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2017) View citations (8)
    CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2018) View citations (16)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (9)
    CESifo Working Paper Series, CESifo (2018) View citations (5)
    Discussion Papers, Deutsche Bundesbank (2017) View citations (15)
    See also Journal Article in American Economic Review (2019)

2015

15. Can a Financial Transaction Tax Prevent Stock Price Booms?
    Working Papers, Barcelona School of Economics View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (7)
    Working Papers, University of Mannheim, Department of Economics (2015) View citations (7)
    See also Journal Article in Journal of Monetary Economics (2015)
16. Distributional Consequences of Asset Price Inflation in the Euro Area
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    Also in Discussion Papers, Deutsche Bundesbank (2015) View citations (9)
    Working Papers, University of Mannheim, Department of Economics (2015) View citations (13)
    See also Journal Article in European Economic Review (2016)
17. Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
    Working Papers, Council on Economic Policies View citations (20)
    Also in Working Paper Series, European Central Bank (2015) View citations (19)
    Working Papers, University of Mannheim, Department of Economics (2014) View citations (12)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (9)
    EconStor Preprints, ZBW - Leibniz Information Centre for Economics (2014) View citations (9)
    See also Journal Article in Journal of the European Economic Association (2016)
18. Stock Market Volatility and Learning
    Working Papers, Federal Reserve Bank of Minneapolis View citations (13)
    Also in UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) (2008) View citations (35)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (16)
    Working Paper Series, European Central Bank (2008) View citations (34)
    Working Papers, University of Mannheim, Department of Economics (2012) View citations (15)
    CEP Discussion Papers, Centre for Economic Performance, LSE (2011) View citations (2)
    Working Papers, Barcelona School of Economics (2014) View citations (9)
    See also Journal Article in Journal of Finance (2016)
19. Stock Price Booms and Expected Capital Gains
    Working Papers, Barcelona School of Economics View citations (11)
    Also in UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) (2014) View citations (14)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (46)
    Working Papers, University of Mannheim, Department of Economics (2014) View citations (13)
    See also Journal Article in American Economic Review (2017)

2013

20. Distortionary Fiscal Policy and Monetary Policy Goals
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (5)
    Research Working Paper, Federal Reserve Bank of Kansas City (2010) View citations (8)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (5)
    See also Journal Article in Economics Letters (2014)
21. Optimal sovereign default
    Discussion Papers, Deutsche Bundesbank View citations (10)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (11)
    Working Papers, University of Mannheim, Department of Economics (2012) View citations (11)
    See also Journal Article in American Economic Journal: Macroeconomics (2017)

2012

22. Optimal Sovereign Debt Default
    2012 Meeting Papers, Society for Economic Dynamics View citations (3)
23. Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (45)
    Also in Working Papers, University of Mannheim, Department of Economics (2012) View citations (45)
    See also Journal Article in Journal of Monetary Economics (2012)

2011

24. Booms and Busts in Asset Prices
    CEP Discussion Papers, Centre for Economic Performance, LSE View citations (10)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2010) View citations (25)
25. House Price Booms and the Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (98)
    Also in CEP Discussion Papers, Centre for Economic Performance, LSE (2011) View citations (105)
    See also Chapter (2011)
    Journal Article in NBER Macroeconomics Annual (2012)
26. Internal Rationality, Imperfect Market Knowledge and Asset Prices
    CEP Discussion Papers, Centre for Economic Performance, LSE View citations (103)
    See also Journal Article in Journal of Economic Theory (2011)

2010

27. Government Debt and Optimal Monetary and Fiscal Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    See also Journal Article in European Economic Review (2011)
28. Optimal Monetary and Fiscal Stabilisation Policies
    OECD Economics Department Working Papers, OECD Publishing View citations (1)

2009

29. Inflation Dynamics and Subjective Expectations in the United States
    CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy View citations (6)
    See also Journal Article in Economic Inquiry (2011)
30. Internal Rationality and Asset Prices
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)

2007

31. Monetary conservatism and fiscal policy
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (5)
    Also in Working Paper Series, European Central Bank (2006) View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (4)
    Computing in Economics and Finance 2005, Society for Computational Economics (2005) View citations (3)
    See also Journal Article in Journal of Monetary Economics (2008)

2006

32. Demand Shocks and Monetary Policy
    Computing in Economics and Finance 2006, Society for Computational Economics View citations (3)
33. Learning and Stock Market Volatility
    Computing in Economics and Finance 2006, Society for Computational Economics View citations (15)

2005

34. Are Hyperinflationary Paths Learnable?
    University of Oregon Economics Department Working Papers, University of Oregon Economics Department
35. Discretionary monetary policy and the zero lower bound on nominal interest rates
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (20)
    Working Paper Series, European Central Bank (2004) View citations (22)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2005) View citations (4)
    See also Journal Article in Journal of Monetary Economics (2007)
36. Experimental Evidence on the Persistence of Output and Inflation
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    Also in Working Paper Series, European Central Bank (2005) View citations (12)
    See also Journal Article in Economic Journal (2007)
37. Optimal monetary policy under commitment with a zero bound on nominal interest rates
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (7)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2004) View citations (20)
    Computing in Economics and Finance 2004, Society for Computational Economics (2004) View citations (30)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (11)
    Working Paper Series, European Central Bank (2004) View citations (21)
    See also Journal Article in Journal of Money, Credit and Banking (2006)

2004

38. Optimal Monetary Policy with Imperfect Common Knowledge
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (14)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (8)
    Econometric Society 2004 North American Winter Meetings, Econometric Society (2004) View citations (16)
    Computing in Economics and Finance 2003, Society for Computational Economics (2003) View citations (23)
    See also Journal Article in Journal of Monetary Economics (2007)
39. Should macroeconomists consider restricted perception equilibria? Evidence from the experimental laboratory
    Computing in Economics and Finance 2004, Society for Computational Economics

2003

40. Are Stationary Hyperinflation Paths Learnable?
    CESifo Working Paper Series, CESifo
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (4)
41. Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (35)
    See also Journal Article in Review of Economic Studies (2003)
42. Learning to Forecast and Cyclical Behavior of Output and Inflation
    Computing in Economics and Finance 2003, Society for Computational Economics
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2003)
    See also Journal Article in Macroeconomic Dynamics (2005)
43. On the Relation between Robust and Bayesian Decision Making
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (1)
    Also in CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy (2001) View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2004)

2002

44. Adaptive Learning and Cyclical Behavior of Output and Inflation
    Macroeconomics, University Library of Munich, Germany View citations (2)
    Also in Economics Working Papers, European University Institute (2000)
45. Learning and Equilibrium Selection in a Monetary Overlapping Generations Economy with Sticky Prices
    Macroeconomics, University Library of Munich, Germany

2001

46. Competitive Prices in Markets with Search and Information Frictions
    CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy
47. Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky
    CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy View citations (2)

1999

48. Learning While Searching for the Beat Alternative
    Economics Working Papers, European University Institute
    See also Journal Article in Journal of Economic Theory (2001)

Journal Articles

2023

1. Estimating the Optimal Inflation Target from Trends in Relative Prices
   American Economic Journal: Macroeconomics, 2023, 15, (3), 1-42 View citations (1)
   See also Working Paper (2020)

2022

2. The case for a positive euro area inflation target: Evidence from france, germany and italy
   Journal of Monetary Economics, 2022, 132, (C), 140-153 View citations (4)
   See also Working Paper (2021)

2021

3. Do survey expectations of stock returns reflect risk adjustments?
   Journal of Monetary Economics, 2021, 117, (C), 723-740 View citations (5)
   See also Working Paper (2019)
4. Robustly optimal monetary policy in a new Keynesian model with housing
   Journal of Economic Theory, 2021, 198, (C) View citations (7)
   See also Working Paper (2020)

2019

5. Optimal Trend Inflation
   American Economic Review, 2019, 109, (2), 702-37 View citations (36)
   See also Working Paper (2018)

2017

6. Optimal Sovereign Default
   American Economic Journal: Macroeconomics, 2017, 9, (1), 128-64 View citations (11)
   See also Working Paper (2013)
7. Stock Price Booms and Expected Capital Gains
   American Economic Review, 2017, 107, (8), 2352-2408 View citations (98)
   See also Working Paper (2015)

2016

8. Distributional consequences of asset price inflation in the Euro Area
   European Economic Review, 2016, 89, (C), 172-192 View citations (66)
   See also Working Paper (2015)
9. PRICE-LEVEL CHANGES AND THE REDISTRIBUTION OF NOMINAL WEALTH ACROSS THE EURO AREA
   Journal of the European Economic Association, 2016, 14, (4), 871-906 View citations (60)
   See also Working Paper (2015)
10. Stock Market Volatility and Learning
    Journal of Finance, 2016, 71, (1), 33-82 View citations (93)
    See also Working Paper (2015)

2015

11. Can a financial transaction tax prevent stock price booms?
    Journal of Monetary Economics, 2015, 76, (S), S90-S109 View citations (7)
    See also Working Paper (2015)

2014

12. Distortionary fiscal policy and monetary policy goals
    Economics Letters, 2014, 122, (1), 1-6 View citations (17)
    See also Working Paper (2013)

2012

13. House Price Booms and the Current Account
    NBER Macroeconomics Annual, 2012, 26, (1), 77 - 122 View citations (80)
    See also Working Paper (2011)
    Chapter (2011)
14. Robustly optimal monetary policy in a microfounded New Keynesian model
    Journal of Monetary Economics, 2012, 59, (5), 468-487 View citations (45)
    See also Working Paper (2012)

2011

15. Government debt and optimal monetary and fiscal policy
    European Economic Review, 2011, 55, (1), 57-74 View citations (47)
    See also Working Paper (2010)
16. INFLATION DYNAMICS AND SUBJECTIVE EXPECTATIONS IN THE UNITED STATES
    Economic Inquiry, 2011, 49, (1), 13-25 View citations (107)
    See also Working Paper (2009)
17. Internal rationality, imperfect market knowledge and asset prices
    Journal of Economic Theory, 2011, 146, (3), 1224-1252 View citations (110)
    See also Working Paper (2011)

2009

18. Monetary policy and aggregate volatility
    Journal of Monetary Economics, 2009, 56, (S), S1-S18 View citations (18)

2008

19. Monetary conservatism and fiscal policy
    Journal of Monetary Economics, 2008, 55, (8), 1376-1388 View citations (75)
    See also Working Paper (2007)

2007

20. Discretionary monetary policy and the zero lower bound on nominal interest rates
    Journal of Monetary Economics, 2007, 54, (3), 728-752 View citations (344)
    See also Working Paper (2005)
21. Experimental Evidence on the Persistence of Output and Inflation
    Economic Journal, 2007, 117, (520), 603-636 View citations (148)
    See also Working Paper (2005)
22. Explaining financial market puzzles with learning
    Research Bulletin, 2007, 6, 2-5
23. Optimal monetary policy with imperfect common knowledge
    Journal of Monetary Economics, 2007, 54, (2), 267-301 View citations (131)
    See also Working Paper (2004)

2006

24. Are hyperinflation paths learnable?
    Journal of Economic Dynamics and Control, 2006, 30, (12), 2725-2748 View citations (37)
25. Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates
    Journal of Money, Credit and Banking, 2006, 38, (7), 1877-1905 View citations (383)
    See also Working Paper (2005)

2005

26. LEARNING TO FORECAST AND CYCLICAL BEHAVIOR OF OUTPUT AND INFLATION
    Macroeconomic Dynamics, 2005, 9, (1), 1-27 View citations (53)
    See also Working Paper (2003)

2004

27. Monetary Policy in a Low Inflation Environment
    Research Bulletin, 2004, 1, 6-7
28. On the relation between robust and Bayesian decision making
    Journal of Economic Dynamics and Control, 2004, 28, (10), 2105-2117 View citations (20)
    See also Working Paper (2003)

2003

29. Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices
    Review of Economic Studies, 2003, 70, (4), 887-907 View citations (35)
    See also Working Paper (2003)

2001

30. Learning While Searching for the Best Alternative
    Journal of Economic Theory, 2001, 101, (1), 252-280 View citations (25)
    See also Working Paper (1999)

Chapters

2011

1. House Price Booms and the Current Account
   A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 77-122 View citations (95)
   See also Working Paper (2011)
   Journal Article in NBER Macroeconomics Annual (2012)