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Details about Carlos Carvalho

Homepage:http://cvianac.googlepages.com/carloscarvalho
Workplace:Departamento de Economia (Department of Economics), Pontifícia Universidade Católica do Rio de Janeiro (Pontifical Catholic University of Rio de Janeiro), (more information at EDIRC)

Access statistics for papers by Carlos Carvalho.

Last updated 2024-11-09. Update your information in the RePEc Author Service.

Short-id: pca106


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Working Papers

2023

  1. Demographics and Real Interest Rates Across Countries and Over Time
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2023) Downloads
  2. Weighted Median Inflation Around the World: A Measure of Core Inflation
    IMF Working Papers, International Monetary Fund Downloads View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2023) Downloads
    NBER Working Papers, National Bureau of Economic Research, Inc (2023) Downloads View citations (1)

    See also Journal Article Weighted Median Inflation Around the World: A Measure of Core Inflation, Journal of International Money and Finance, Elsevier (2024) Downloads (2024)

2021

  1. Taylor Rule Estimation by OLS
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (30)
    See also Journal Article Taylor rule estimation by OLS, Journal of Monetary Economics, Elsevier (2021) Downloads View citations (34) (2021)

2020

  1. Anchored inflation expectations
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University Downloads View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) Downloads View citations (14)

    See also Journal Article Anchored Inflation Expectations, American Economic Journal: Macroeconomics, American Economic Association (2023) Downloads View citations (27) (2023)
  2. Multi-Product Pricing: Theory and Evidence from Large Retailers in Israel
    Staff Working Papers, Bank of Canada Downloads View citations (14)

2019

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

    See also Journal Article Macroeconomic Effects of Credit Deepening in Latin America, Journal of Money, Credit and Banking, Blackwell Publishing (2023) Downloads (2023)
  2. Macroeconomic Macroeconomic Effects of Credit Deepening in Latin America
    Working Papers, Banco Central de Reserva del Perú Downloads

2018

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

2017

  1. Approximating Multisector New Keynesian Models
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (1)
    See also Journal Article Approximating multisector New Keynesian models, Economics Letters, Elsevier (2018) Downloads View citations (2) (2018)
  2. 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) Downloads View citations (5)
    Also in Textos para discussão, Department of Economics PUC-Rio (Brazil) (2016) Downloads View citations (3)

    See also Journal Article ArCo: An artificial counterfactual approach for high-dimensional panel time-series data, Journal of Econometrics, Elsevier (2018) Downloads View citations (34) (2018)
  3. Extensive Margin Adjustment of Multi-Product Firm and Risk Diversification
    IMF Working Papers, International Monetary Fund Downloads View citations (1)
  4. The perils of counterfactual analysis with integrated processes
    Textos para discussão, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil) Downloads
    Also in Textos para discussão, Department of Economics PUC-Rio (Brazil) (2016) Downloads View citations (3)

2016

  1. Demographics and Real Interest Rates: Inspecting the Mechanism
    2016 Meeting Papers, Society for Economic Dynamics Downloads View citations (243)
    Also in Textos para discussão, Department of Economics PUC-Rio (Brazil) (2016) Downloads View citations (257)
    Working Paper Series, Federal Reserve Bank of San Francisco (2016) Downloads View citations (184)

    See also Journal Article Demographics and real interest rates: Inspecting the mechanism, European Economic Review, Elsevier (2016) Downloads View citations (229) (2016)
  2. Measuring the Effect of the Zero Lower Bound on Monetary Policy
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads View citations (19)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2016) Downloads View citations (14)
  3. Online Appendix to "Factor Specificity and Real Rigidities
    Online Appendices, Review of Economic Dynamics Downloads View citations (10)
    See also Journal Article Factor Specificity and Real Rigidities, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016) Downloads View citations (12) (2016)
  4. Price Selection, Monetary Non-neutrality, and Sticky-Price Models
    2016 Meeting Papers, Society for Economic Dynamics View citations (2)

2015

  1. E Se o Brasil Não Tivesse Adotado Câmbio Flutuante em 1999?
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads
  2. Factor Specificity and Real Rigidities
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2013) Downloads View citations (6)

    See also Journal Article Factor Specificity and Real Rigidities, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016) Downloads View citations (12) (2016)
  3. Lift-off Uncertainty: What Can We Infer From the FOMC's Summary of Economic Projections?
    2015 Meeting Papers, Society for Economic Dynamics Downloads View citations (7)
  4. Persistent Monetary Non-neutrality in an Estimated Model with Menu Costs and Partially Costly Information
    2015 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
  5. What drives long-run inflation expectations?
    2015 Meeting Papers, Society for Economic Dynamics Downloads
  6. What if Brazil Hadn't Floated the Real in 1999?
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads
    See also Journal Article What lf Brazil Hadn't Floated the Real in 1999?, Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE (2015) Downloads (2015)

2014

  1. Factor SpecifiÂ…city and Real Rigidities
    2014 Meeting Papers, Society for Economic Dynamics Downloads
  2. Monetary Policy and Real Exchange Rate Dynamics in Sticky-Price Models
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (2)
    Also in Textos para discussão, Department of Economics PUC-Rio (Brazil) (2014) Downloads View citations (1)
  3. 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) Downloads
  4. Selection and Monetary Non-Neutrality in Time-Dependent Pricing Models
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads View citations (15)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) Downloads View citations (2)
    Working Paper, Federal Reserve Bank of Richmond (2012) Downloads View citations (4)

    See also Journal Article Selection and monetary non-neutrality in time-dependent pricing models, Journal of Monetary Economics, Elsevier (2015) Downloads View citations (22) (2015)

2013

  1. Do People Understand Monetary Policy?
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads View citations (2)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2012) Downloads
    2012 Meeting Papers, Society for Economic Dynamics (2012) Downloads View citations (11)

    See also Journal Article Do people understand monetary policy?, Journal of Monetary Economics, Elsevier (2014) Downloads View citations (146) (2014)
  2. Just Words? A Quantitative Analysis of the Communication of the Central Bank of Brazil
    Textos para discussão, Department of Economics PUC-Rio (Brazil) Downloads View citations (14)
    See also Journal Article Just Words? A Quantitative Analysis of the Communication of the Central Bank of Brazil, Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil) (2013) Downloads View citations (11) (2013)
  3. Monetary Policy, External Finance Dependence, and the Cross-section of Stock Returns: A FAVAR Approach
    2013 Meeting Papers, Society for Economic Dynamics Downloads
  4. 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) Downloads
  5. Time- and State-Dependent Pricing: A Unified Framework
    2013 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
  6. What Explains Japan's Persistent Deflation?
    2013 Meeting Papers, Society for Economic Dynamics Downloads

2011

  1. Sectoral Price Facts in a Sticky-Price Model
    Departmental Working Papers, Rutgers University, Department of Economics Downloads View citations (26)
    Also in 2010 Meeting Papers, Society for Economic Dynamics (2010) Downloads View citations (4)
    Staff Reports, Federal Reserve Bank of New York (2011) Downloads View citations (26)

    See also Journal Article Sectoral Price Facts in a Sticky-Price Model, American Economic Journal: Macroeconomics, American Economic Association (2021) Downloads View citations (18) (2021)

2010

  1. Aggregation and the PPP puzzle in a sticky-price model
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (25)
    Also in Staff Reports, Federal Reserve Bank of New York (2008) Downloads View citations (8)

    See also Journal Article Aggregation and the PPP Puzzle in a Sticky-Price Model, American Economic Review, American Economic Association (2011) Downloads View citations (75) (2011)
  2. Loss aversion, asymmetric market comovements, and the home bias
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (18)
    See also Journal Article Loss aversion, asymmetric market comovements, and the home bias, Journal of International Money and Finance, Elsevier (2010) Downloads View citations (14) (2010)
  3. State-dependent pricing under infrequent information: a unified framework
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (11)

2009

  1. Estimating the Cross-sectional Distribution of Price Stickiness from Aggregate Data
    2009 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Staff Reports, Federal Reserve Bank of New York (2009) Downloads View citations (7)
  2. The persistent effects of a false news shock
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (1)
    See also Journal Article The persistent effects of a false news shock, Journal of Empirical Finance, Elsevier (2011) Downloads View citations (25) (2011)

2008

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

    See also Journal Article Imperfectly Credible Disinflation under Endogenous Time-Dependent Pricing, Journal of Money, Credit and Banking, Blackwell Publishing (2010) View citations (11) (2010)

2005

  1. Endogenous Time-Dependent Rules and Inflation Inertia
    Macroeconomics, University Library of Munich, Germany Downloads View citations (6)
    See also Journal Article Endogenous Time-Dependent Rules and Inflation Inertia, Journal of Money, Credit and Banking, Blackwell Publishing (2004) View citations (65) (2004)
  2. Endogenous Time-Dependent Rules and the Costs of Disinflation with Imperfect Credibility
    Macroeconomics, University Library of Munich, Germany Downloads 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) Downloads View citations (1)
    Macroeconomics, University Library of Munich, Germany (2005) Downloads View citations (3)
  3. Heterogeneity in Price Setting and the Real Effects of Monetary Shocks
    Macroeconomics, University Library of Munich, Germany Downloads View citations (72)
  4. The Effects of Heterogeneity in Price Setting on Price and Inflation Inertia
    Macroeconomics, University Library of Munich, Germany Downloads View citations (1)
    Also in Macroeconomics, University Library of Munich, Germany (2005) Downloads View citations (1)
    Econometric Society 2004 Latin American Meetings, Econometric Society (2004) Downloads
    Macroeconomics, University Library of Munich, Germany (2005) Downloads View citations (1)

2004

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

1999

  1. 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) Downloads View citations (9)

Undated

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

Journal Articles

2024

  1. Abrupt monetary policy change and unanchoring of inflation expectations
    Journal of Monetary Economics, 2024, 145, (S) Downloads View citations (1)
  2. Weighted Median Inflation Around the World: A Measure of Core Inflation
    Journal of International Money and Finance, 2024, 142, (C) Downloads
    See also Working Paper Weighted Median Inflation Around the World: A Measure of Core Inflation, IMF Working Papers (2023) Downloads View citations (1) (2023)

2023

  1. Anchored Inflation Expectations
    American Economic Journal: Macroeconomics, 2023, 15, (1), 1-47 Downloads View citations (27)
    See also Working Paper Anchored inflation expectations, CAMA Working Papers (2020) Downloads View citations (9) (2020)
  2. Challenges to Disinflation: The Brazilian Experience
    Brookings Papers on Economic Activity, 2023, 54, (1 (Spring)), 217-241 Downloads View citations (1)
  3. Macroeconomic Effects of Credit Deepening in Latin America
    Journal of Money, Credit and Banking, 2023, 55, (7), 1817-1855 Downloads
    See also Working Paper Macroeconomic Effects of Credit Deepening in Latin America, Working Papers Central Bank of Chile (2019) Downloads View citations (4) (2019)
  4. Multi-Product Pricing: Theory and Evidence from Large Retailers
    The Economic Journal, 2023, 133, (651), 905-927 Downloads View citations (1)
  5. Persistent Monetary Non-neutrality in an Estimated Menu Cost Model with Partially Costly Information
    American Economic Journal: Macroeconomics, 2023, 15, (2), 466-505 Downloads

2021

  1. Price selection
    Journal of Monetary Economics, 2021, 122, (C), 56-75 Downloads
    See also Working Paper Price Selection, Staff Working Papers (2018) Downloads View citations (4) (2018)
  2. Sectoral Price Facts in a Sticky-Price Model
    American Economic Journal: Macroeconomics, 2021, 13, (1), 216-56 Downloads View citations (18)
    See also Working Paper Sectoral Price Facts in a Sticky-Price Model, Departmental Working Papers (2011) Downloads View citations (26) (2011)
  3. Taylor rule estimation by OLS
    Journal of Monetary Economics, 2021, 124, (C), 140-154 Downloads View citations (34)
    See also Working Paper Taylor Rule Estimation by OLS, Working Paper Series (2021) Downloads View citations (30) (2021)

2020

  1. The Cross-Sectional Distribution of Price Stickiness Implied by Aggregate Data
    The Review of Economics and Statistics, 2020, 102, (1), 162-179 Downloads View citations (5)

2018

  1. Approximating multisector New Keynesian models
    Economics Letters, 2018, 163, (C), 193-196 Downloads View citations (2)
    See also Working Paper Approximating Multisector New Keynesian Models, Working Paper Series (2017) Downloads View citations (1) (2017)
  2. ArCo: An artificial counterfactual approach for high-dimensional panel time-series data
    Journal of Econometrics, 2018, 207, (2), 352-380 Downloads View citations (34)
    See also Working Paper Arco: an artificial counterfactual approach for high-dimensional panel time-series data, Textos para discussão (2017) Downloads View citations (5) (2017)

2017

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

2016

  1. Demographics and real interest rates: Inspecting the mechanism
    European Economic Review, 2016, 88, (C), 208-226 Downloads View citations (229)
    See also Working Paper Demographics and Real Interest Rates: Inspecting the Mechanism, 2016 Meeting Papers (2016) Downloads View citations (243) (2016)
  2. Factor Specificity and Real Rigidities
    Review of Economic Dynamics, 2016, 22, 208-222 Downloads View citations (12)
    See also Working Paper Online Appendix to "Factor Specificity and Real Rigidities, Online Appendices (2016) Downloads View citations (10) (2016)
    Working Paper Factor Specificity and Real Rigidities, Textos para discussão (2015) Downloads (2015)
    Software Item Code and data files for "Factor Specificity and Real Rigidities", Computer Codes (2016) Downloads (2016)
  3. Fed communication and the zero lower bound
    FRBSF Economic Letter, 2016 Downloads View citations (1)

2015

  1. Selection and monetary non-neutrality in time-dependent pricing models
    Journal of Monetary Economics, 2015, 76, (C), 141-156 Downloads View citations (22)
    See also Working Paper Selection and Monetary Non-Neutrality in Time-Dependent Pricing Models, Textos para discussão (2014) Downloads View citations (15) (2014)
  2. What lf Brazil Hadn't Floated the Real in 1999?
    Brazilian Review of Econometrics, 2015, 35, (2) Downloads
    See also Working Paper What if Brazil Hadn't Floated the Real in 1999?, Textos para discussão (2015) Downloads (2015)

2014

  1. Do people understand monetary policy?
    Journal of Monetary Economics, 2014, 66, (C), 108-123 Downloads View citations (146)
    See also Working Paper Do People Understand Monetary Policy?, Textos para discussão (2013) Downloads View citations (2) (2013)
  2. Household expectations and monetary policy
    FRBSF Economic Letter, 2014 Downloads

2013

  1. Just Words? A Quantitative Analysis of the Communication of the Central Bank of Brazil
    Revista Brasileira de Economia - RBE, 2013, 67, (4) Downloads View citations (11)
    See also Working Paper Just Words? A Quantitative Analysis of the Communication of the Central Bank of Brazil, Textos para discussão (2013) Downloads View citations (14) (2013)

2012

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

2011

  1. Aggregation and the PPP Puzzle in a Sticky-Price Model
    American Economic Review, 2011, 101, (6), 2391-2424 Downloads View citations (75)
    See also Working Paper Aggregation and the PPP puzzle in a sticky-price model, Working Paper Series (2010) Downloads View citations (25) (2010)
  2. The persistent effects of a false news shock
    Journal of Empirical Finance, 2011, 18, (4), 597-615 Downloads View citations (25)
    See also Working Paper The persistent effects of a false news shock, Staff Reports (2009) Downloads View citations (1) (2009)

2010

  1. 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) Downloads View citations (1)

    See also Working Paper Imperfectly credible disinflation under endogenous time-dependent pricing, Staff Reports (2008) Downloads View citations (1) (2008)
  2. Loss aversion, asymmetric market comovements, and the home bias
    Journal of International Money and Finance, 2010, 29, (7), 1303-1320 Downloads View citations (14)
    See also Working Paper Loss aversion, asymmetric market comovements, and the home bias, Staff Reports (2010) Downloads View citations (18) (2010)

2006

  1. Heterogeneity in Price Stickiness and the Real Effects of Monetary Shocks
    The B.E. Journal of Macroeconomics, 2006, 6, (1), 58 Downloads View citations (251)

2004

  1. Endogenous Time-Dependent Rules and Inflation Inertia
    Journal of Money, Credit and Banking, 2004, 36, (6), 1015-41 View citations (65)
    See also Working Paper Endogenous Time-Dependent Rules and Inflation Inertia, Macroeconomics (2005) Downloads View citations (6) (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 Downloads
    See also Journal Article Factor Specificity and Real Rigidities, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2016) Downloads View citations (12) (2016)
 
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