Details about Carlos Carvalho

Access statistics for papers by Carlos Carvalho.

Last updated 2023-05-10. Update your information in the RePEc Author Service.

Short-id: pca106

Working Papers

2023

1. Weighted Median Inflation Around the World: A Measure of Core Inflation
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2023)
   IMF Working Papers, International Monetary Fund (2023)

2021

2. Taylor Rule Estimation by OLS
   Working Paper Series, Federal Reserve Bank of San Francisco View citations (7)
   See also Journal Article in Journal of Monetary Economics (2021)

2020

3. Anchored inflation expectations
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (8)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (13)
   See also Journal Article in American Economic Journal: Macroeconomics (2023)
4. Multi-Product Pricing: Theory and Evidence from Large Retailers in Israel
   Staff Working Papers, Bank of Canada View citations (8)

2019

5. Macroeconomic Effects of Credit Deepening in Latin America
   Working Papers Central Bank of Chile, Central Bank of Chile View citations (4)
   Also in IDB Publications (Working Papers), Inter-American Development Bank (2015) View citations (2)
   Textos para discussão, Department of Economics PUC-Rio (Brazil) (2014) View citations (5)
6. Macroeconomic Macroeconomic Effects of Credit Deepening in Latin America
   Working Papers, Banco Central de Reserva del Perú

2018

7. Gambling, Risk Appetite and Asset Pricing
   Textos para discussão, Department of Economics PUC-Rio (Brazil)
8. Price Selection
   Staff Working Papers, Bank of Canada View citations (4)
   See also Journal Article in Journal of Monetary Economics (2021)

2017

9. Approximating Multisector New Keynesian Models
   Working Paper Series, Federal Reserve Bank of San Francisco View citations (1)
   See also Journal Article in Economics Letters (2018)
10. Arco: an artificial counterfactual approach for high-dimensional panel time-series data
    Textos para discussão, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil) View citations (5)
    Also in Textos para discussão, Department of Economics PUC-Rio (Brazil) (2016) View citations (3)
    See also Journal Article in Journal of Econometrics (2018)
11. Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification
    IMF Working Papers, International Monetary Fund View citations (1)
12. The perils of counterfactual analysis with integrated processes
    Textos para discussão, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil)
    Also in Textos para discussão, Department of Economics PUC-Rio (Brazil) (2016) View citations (2)

2016

13. Demographics and Real Interest Rates: Inspecting the Mechanism
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (207)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2016) View citations (176)
    2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (200)
    See also Journal Article in European Economic Review (2016)
14. Measuring the Effect of the Zero Lower Bound on Monetary Policy
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (16)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2016) View citations (14)
15. Online Appendix to "Factor Specificity and Real Rigidities
    Online Appendices, Review of Economic Dynamics View citations (8)
    See also Journal Article in Review of Economic Dynamics (2016)
16. Price Selection, Monetary Non-neutrality, and Sticky-Price Models
    2016 Meeting Papers, Society for Economic Dynamics View citations (2)

2015

17. E Se o Brasil Não Tivesse Adotado Câmbio Flutuante em 1999?
    Textos para discussão, Department of Economics PUC-Rio (Brazil)
18. Factor Specificity and Real Rigidities
    Textos para discussão, Department of Economics PUC-Rio (Brazil)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2013) View citations (6)
    See also Journal Article in Review of Economic Dynamics (2016)
19. Lift-off Uncertainty: What Can We Infer From the FOMC's Summary of Economic Projections?
    2015 Meeting Papers, Society for Economic Dynamics View citations (7)
20. Persistent Monetary Non-neutrality in an Estimated Model with Menu Costs and Partially Costly Information
    2015 Meeting Papers, Society for Economic Dynamics View citations (1)
21. What drives long-run inflation expectations?
    2015 Meeting Papers, Society for Economic Dynamics
22. What if Brazil Hadn't Floated the Real in 1999?
    Textos para discussão, Department of Economics PUC-Rio (Brazil)
    See also Journal Article in Brazilian Review of Econometrics (2015)

2014

23. Factor SpecifiÂ…city and Real Rigidities
    2014 Meeting Papers, Society for Economic Dynamics
24. Monetary Policy and Real Exchange Rate Dynamics in Sticky-Price Models
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (1)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2014) View citations (2)
25. Real Rigidities and the Cross-Sectional Distribution of Price Stickiness: Evidence from Micro and Macro Data Combined
    Textos para discussão, Department of Economics PUC-Rio (Brazil)
26. Selection and Monetary Non-Neutrality in Time-Dependent Pricing Models
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (15)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (2)
    Working Paper, Federal Reserve Bank of Richmond (2012) View citations (4)
    See also Journal Article in Journal of Monetary Economics (2015)

2013

27. Do People Understand Monetary Policy?
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (2)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (11)
    Working Paper Series, Federal Reserve Bank of San Francisco (2012)
    See also Journal Article in Journal of Monetary Economics (2014)
28. Just Words? A Quantitative Analysis of the Communication of the Central Bank of Brazil
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (14)
    See also Journal Article in Revista Brasileira de Economia - RBE (2013)
29. Monetary Policy, External Finance Dependence, and the Cross-section of Stock Returns: A FAVAR Approach
    2013 Meeting Papers, Society for Economic Dynamics
30. Real Exchange Rate Dynamics in Sticky-Price Models with Capital
    2013 Meeting Papers, Society for Economic Dynamics
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2012)
31. Time- and State-Dependent Pricing: A Unified Framework
    2013 Meeting Papers, Society for Economic Dynamics View citations (1)
32. What Explains Japan's Persistent Deflation?
    2013 Meeting Papers, Society for Economic Dynamics

2011

33. Sectoral Price Facts in a Sticky-Price Model
    Departmental Working Papers, Rutgers University, Department of Economics View citations (26)
    Also in Staff Reports, Federal Reserve Bank of New York (2011) View citations (26)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (4)
    See also Journal Article in American Economic Journal: Macroeconomics (2021)

2010

34. Aggregation and the PPP puzzle in a sticky-price model
    Working Paper Series, Federal Reserve Bank of San Francisco View citations (25)
    Also in Staff Reports, Federal Reserve Bank of New York (2008) View citations (8)
    See also Journal Article in American Economic Review (2011)
35. Loss aversion, asymmetric market comovements, and the home bias
    Staff Reports, Federal Reserve Bank of New York View citations (13)
    See also Journal Article in Journal of International Money and Finance (2010)
36. State-dependent pricing under infrequent information: a unified framework
    Staff Reports, Federal Reserve Bank of New York View citations (11)

2009

37. Estimating the Cross-sectional Distribution of Price Stickiness from Aggregate Data
    2009 Meeting Papers, Society for Economic Dynamics
    Also in Staff Reports, Federal Reserve Bank of New York (2009) View citations (7)
38. The persistent effects of a false news shock
    Staff Reports, Federal Reserve Bank of New York View citations (1)
    See also Journal Article in Journal of Empirical Finance (2011)

2008

39. Heterogeneous Price Setting Behavior and Monetary Non-neutrality: Some General Results
    2008 Meeting Papers, Society for Economic Dynamics View citations (15)
40. Imperfectly credible disinflation under endogenous time-dependent pricing
    Staff Reports, Federal Reserve Bank of New York View citations (1)
    Also in FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE), EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil) (2005) View citations (9)
    Macroeconomics, University Library of Munich, Germany (2005) View citations (12)
    See also Journal Article in Journal of Money, Credit and Banking (2010)

2005

41. Endogenous Time-Dependent Rules and Inflation Inertia
    Macroeconomics, University Library of Munich, Germany View citations (6)
    See also Journal Article in Journal of Money, Credit and Banking (2004)
42. Endogenous Time-Dependent Rules and the Costs of Disinflation with Imperfect Credibility
    Macroeconomics, University Library of Munich, Germany View citations (4)
    Also in FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE), EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil) (2003) View citations (1)
    Macroeconomics, University Library of Munich, Germany (2005) View citations (3)
43. Heterogeneity in Price Setting and the Real Effects of Monetary Shocks
    Macroeconomics, University Library of Munich, Germany View citations (72)
44. The Effects of Heterogeneity in Price Setting on Price and Inflation Inertia
    Macroeconomics, University Library of Munich, Germany View citations (1)
    Also in Macroeconomics, University Library of Munich, Germany (2005) View citations (1)
    Macroeconomics, University Library of Munich, Germany (2005) View citations (1)
    Econometric Society 2004 Latin American Meetings, Econometric Society (2004)

2004

45. Myopic Loss Aversion, Asymmetric Correlations, and the Home Bias
    Econometric Society 2004 Latin American Meetings, Econometric Society

1999

46. Endogenous time-dependent rules and inflation inertia: preliminary version
    FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE), EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil) View citations (9)

Undated

47. Sentiment, Electoral Uncertainty and Stock Returns
    Textos para discussão, Department of Economics PUC-Rio (Brazil) View citations (1)
48. Transitions in Central Bank Leadership
    Textos para discussão, Department of Economics PUC-Rio (Brazil)

Journal Articles

2023

1. Anchored Inflation Expectations
   American Economic Journal: Macroeconomics, 2023, 15, (1), 1-47
   See also Working Paper (2020)
2. Persistent Monetary Non-neutrality in an Estimated Menu Cost Model with Partially Costly Information
   American Economic Journal: Macroeconomics, 2023, 15, (2), 466-505

2021

3. Price selection
   Journal of Monetary Economics, 2021, 122, (C), 56-75
   See also Working Paper (2018)
4. Sectoral Price Facts in a Sticky-Price Model
   American Economic Journal: Macroeconomics, 2021, 13, (1), 216-56 View citations (8)
   See also Working Paper (2011)
5. Taylor rule estimation by OLS
   Journal of Monetary Economics, 2021, 124, (C), 140-154 View citations (9)
   See also Working Paper (2021)

2020

6. The Cross-Sectional Distribution of Price Stickiness Implied by Aggregate Data
   The Review of Economics and Statistics, 2020, 102, (1), 162-179 View citations (2)

2018

7. Approximating multisector New Keynesian models
   Economics Letters, 2018, 163, (C), 193-196 View citations (2)
   See also Working Paper (2017)
8. ArCo: An artificial counterfactual approach for high-dimensional panel time-series data
   Journal of Econometrics, 2018, 207, (2), 352-380 View citations (23)
   See also Working Paper (2017)

2017

9. Demographic Transition and Low U.S. Interest Rates
   FRBSF Economic Letter, 2017 View citations (3)
10. Heterogeneous Sticky-Information Economies
    Brazilian Review of Econometrics, 2017, 37, (2)

2016

11. Demographics and real interest rates: Inspecting the mechanism
    European Economic Review, 2016, 88, (C), 208-226 View citations (209)
    See also Working Paper (2016)
12. Factor Specificity and Real Rigidities
    Review of Economic Dynamics, 2016, 22, 208-222 View citations (10)
    See also Working Paper (2015)
    Working Paper (2016)
    Software Item (2016)
13. Fed communication and the zero lower bound
    FRBSF Economic Letter, 2016 View citations (1)

2015

14. Selection and monetary non-neutrality in time-dependent pricing models
    Journal of Monetary Economics, 2015, 76, (C), 141-156 View citations (20)
    See also Working Paper (2014)
15. What lf Brazil Hadn't Floated the Real in 1999?
    Brazilian Review of Econometrics, 2015, 35, (2)
    See also Working Paper (2015)

2014

16. Do people understand monetary policy?
    Journal of Monetary Economics, 2014, 66, (C), 108-123 View citations (118)
    See also Working Paper (2013)
17. Household expectations and monetary policy
    FRBSF Economic Letter, 2014

2013

18. Just Words? A Quantitative Analysis of the Communication of the Central Bank of Brazil
    Revista Brasileira de Economia - RBE, 2013, 67, (4) View citations (11)
    See also Working Paper (2013)

2012

19. Iniciativas de política durante la recesión global. ¿Cuáles eran las expectativas de los analistas?
    Boletín, 2012, LVIII, (2), 78-93
20. Policy initiatives in the global recession: what did forecasters expect?
    Current Issues in Economics and Finance, 2012, 18, (Feb)

2011

21. Aggregation and the PPP Puzzle in a Sticky-Price Model
    American Economic Review, 2011, 101, (6), 2391-2424 View citations (66)
    See also Working Paper (2010)
22. The persistent effects of a false news shock
    Journal of Empirical Finance, 2011, 18, (4), 597-615 View citations (18)
    See also Working Paper (2009)

2010

23. Imperfectly Credible Disinflation under Endogenous Time-Dependent Pricing
    Journal of Money, Credit and Banking, 2010, 42, (5), 799-831 View citations (11)
    Also in Journal of Money, Credit and Banking, 2010, 42, (5), 799-831 (2010) View citations (1)
    See also Working Paper (2008)
24. Loss aversion, asymmetric market comovements, and the home bias
    Journal of International Money and Finance, 2010, 29, (7), 1303-1320 View citations (14)
    See also Working Paper (2010)

2006

25. Heterogeneity in Price Stickiness and the Real Effects of Monetary Shocks
    The B.E. Journal of Macroeconomics, 2006, 6, (3), 1-58 View citations (235)

2004

26. Endogenous Time-Dependent Rules and Inflation Inertia
    Journal of Money, Credit and Banking, 2004, 36, (6), 1015-41 View citations (64)
    See also Working Paper (2005)

Chapters

2015

1. Macroeconomic Effects of the Demographic Transition in Brazil
   Palgrave Macmillan

Software Items

2016

1. Code and data files for "Factor Specificity and Real Rigidities"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article in Review of Economic Dynamics (2016)