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Details about Lawrence J. Christiano

Workplace:Department of Economics, Northwestern University, (more information at EDIRC)

Access statistics for papers by Lawrence J. Christiano.

Last updated 2024-04-23. Update your information in the RePEc Author Service.

Short-id: pch45


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Working Papers

2024

  1. Slow Learning
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2022

  1. Modeling Bank Panics: Challenges
    CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2022) Downloads

2021

  1. Financial Dollarization in Emerging Markets: Efficient Risk Sharing or Prescription for Disaster?
    CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany Downloads View citations (9)
  2. Financial Dollarization: Efficient Intranational Risk Sharing or Prescription for Disaster?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2020

  1. Online Appendix to "Involuntary Unemployment and the Business Cycle"
    Online Appendices, Review of Economic Dynamics Downloads View citations (4)
    See also Journal Article Involuntary Unemployment and the Business Cycle, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) Downloads View citations (4) (2021)
  2. Why is Unemployment so Countercyclical?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article Why is Unemployment so Countercyclical?, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) Downloads View citations (8) (2021)

2018

  1. Discouraging Deviant Behavior in Monetary Economics
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
  2. Does the New Keynesian Model Have a Uniqueness Problem?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (22)
  3. On DSGE Models
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (52)
    See also Journal Article On DSGE Models, Journal of Economic Perspectives, American Economic Association (2018) Downloads View citations (52) (2018)

2017

  1. Financialization in Commodity Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2017) Downloads View citations (10)
    Staff Report, Federal Reserve Bank of Minneapolis (2017) Downloads View citations (10)
  2. The Great Recession: A Macroeconomic Earthquake
    Economic Policy Paper, Federal Reserve Bank of Minneapolis Downloads View citations (4)

2016

  1. Involuntary Unemployment and the Business Cycle
    2016 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
    Also in Working Paper Series, European Central Bank (2010) Downloads View citations (52)
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2010) Downloads View citations (35)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2012) Downloads View citations (13)
    2010 Meeting Papers, Society for Economic Dynamics (2010) Downloads View citations (55)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (65)

    See also Journal Article Involuntary Unemployment and the Business Cycle, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) Downloads View citations (4) (2021)

2014

  1. Leverage Restrictions in a Business Cycle Model
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (20)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) Downloads View citations (40)

    See also Chapter Leverage Restrictions in a Business Cycle Model, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2014) Downloads View citations (10) (2014)
  2. The Optimal Extraction of Exhaustible Resources
    Economic Policy Paper, Federal Reserve Bank of Minneapolis Downloads View citations (5)
  3. Understanding the Great Recession
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (17)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads View citations (41)
    Annual Meeting Plenary, Society for Economic Dynamics (2014) Downloads View citations (43)

    See also Chapter Understanding the Great Recession, NBER Chapters, National Bureau of Economic Research, Inc (2013) View citations (5) (2013)
    Journal Article Understanding the Great Recession, American Economic Journal: Macroeconomics, American Economic Association (2015) Downloads View citations (269) (2015)

2013

  1. Risk Shocks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (35)
    See also Journal Article Risk Shocks, American Economic Review, American Economic Association (2014) Downloads View citations (546) (2014)
  2. Unemployment and Business Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (43)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2013) Downloads View citations (15)

    See also Journal Article Unemployment and Business Cycles, Econometrica, Econometric Society (2016) Downloads View citations (118) (2016)

2011

  1. Government Policy, Credit Markets and Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (43)
  2. Introducing Financial Frictions and Unemployment into a Small Open Economy Model
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) Downloads View citations (326)
    Also in FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2010) Downloads View citations (5)
    2008 Meeting Papers, Society for Economic Dynamics (2008) Downloads View citations (3)

    See also Journal Article Introducing financial frictions and unemployment into a small open economy model, Journal of Economic Dynamics and Control, Elsevier (2011) Downloads View citations (319) (2011)
  3. Monetary Policy and Stock Market Booms
    Working Papers, Banco Central de Reserva del Perú Downloads View citations (6)
    Also in FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2010) Downloads View citations (111)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (201)
    Working Papers, Duke University, Department of Economics (2010) Downloads View citations (184)

    See also Journal Article Monetary policy and stock market booms, Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City (2010) Downloads View citations (95) (2010)

2010

  1. Comment on Eggertsson, \"What fiscal policy is effective at zero interest rates?\"
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (3)
  2. DSGE Models for Monetary Policy Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (236)
    Also in FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2010) Downloads View citations (85)

    See also Chapter DSGE Models for Monetary Policy Analysis, Handbook of Monetary Economics, Elsevier (2010) Downloads View citations (201) (2010)
  3. Financial Factors in Economic Fluctuations
    2010 Meeting Papers, Society for Economic Dynamics Downloads View citations (428)
    Also in Working Paper Series, European Central Bank (2010) Downloads View citations (435)
  4. Firm-specific capital, nominal rigidities and the business cycle
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (128)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2004) Downloads View citations (39)
    Working Papers (Old Series), Federal Reserve Bank of Cleveland (2004) Downloads View citations (104)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2004) Downloads View citations (111)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) Downloads View citations (196)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) Downloads View citations (244)

    See also Journal Article Firm-Specific Capital, Nominal Rigidities and the Business Cycle, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) Downloads View citations (262) (2011)
  5. When is the government spending multiplier large?
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (15)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (245)

    See also Journal Article When Is the Government Spending Multiplier Large?, Journal of Political Economy, University of Chicago Press (2011) Downloads View citations (1482) (2011)

2008

  1. Facts and myths about the financial crisis of 2008
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (40)
  2. Financial Factors in Business Cycles
    2008 Meeting Papers, Society for Economic Dynamics View citations (14)
  3. Monetary policy and stock market boom-bust cycles
    Working Paper Series, European Central Bank Downloads View citations (219)

2007

  1. Optimal Monetary Policy in a 'Sudden Stop'
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (33)
    Also in Other publications TiSEM, Tilburg University, School of Economics and Management (2007) Downloads View citations (10)

    See also Journal Article Optimal monetary policy in a [`]sudden stop', Journal of Monetary Economics, Elsevier (2009) Downloads View citations (27) (2009)
  2. Shocks, Structures or Monetary Policies? The Euro Area and US After 2001
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (40)
    Also in Working Paper Series, European Central Bank (2007) Downloads View citations (41)

    See also Journal Article Shocks, structures or monetary policies? The Euro Area and US after 2001, Journal of Economic Dynamics and Control, Elsevier (2008) Downloads View citations (127) (2008)
  3. Two Reasons Why Money and Credit May be Useful in Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (82)

2006

  1. Assessing Structural VARs
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (179)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2006) Downloads View citations (77)

    See also Chapter Assessing Structural VARs, NBER Chapters, National Bureau of Economic Research, Inc (2007) Downloads View citations (66) (2007)
  2. Two Flaws In Business Cycle Accounting
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (63)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2006) Downloads View citations (62)
  3. Two flaws in business cycle dating
    Working Papers (Old Series), Federal Reserve Bank of Cleveland Downloads View citations (26)

2005

  1. Alternative procedures for estimating vector autoregressions identified with long-run restrictions
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (4)
    See also Journal Article Alternative Procedures for Estimating Vector Autoregressions Identified with Long-Run Restrictions, Journal of the European Economic Association, MIT Press (2006) Downloads View citations (23) (2006)
  2. Assessing the Usefulness of Structural Vector Autoregressions
    2005 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
  3. Online Appendix to "Firm-Specific Capital, Nominal Rigidities and the Business Cycle"
    Online Appendices, Review of Economic Dynamics Downloads View citations (59)
    See also Journal Article Firm-Specific Capital, Nominal Rigidities and the Business Cycle, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) Downloads View citations (262) (2011)

2004

  1. The Great Depression and the Friedman-Schwartz Hypothesis
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (72)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2004) Downloads View citations (51)
    Computing in Economics and Finance 2004, Society for Computational Economics (2004) Downloads View citations (63)
    Working Paper Series, European Central Bank (2004) Downloads View citations (63)

    See also Journal Article The Great Depression and the Friedman-Schwartz hypothesis, Proceedings, Federal Reserve Bank of Cleveland (2003) View citations (265) (2003)
  2. The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (135)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2003) Downloads View citations (18)

    See also Journal Article The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology, Journal of the European Economic Association, MIT Press (2004) Downloads View citations (128) (2004)
  3. Why Do Firms Hold Inventories?
    2004 Meeting Papers, Society for Economic Dynamics

2003

  1. Expectation traps and monetary policy
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (85)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) Downloads View citations (39)
    Macroeconomics, University Library of Munich, Germany (2002) Downloads View citations (28)
    Working Paper Series, Federal Reserve Bank of Chicago (2002) Downloads View citations (10)
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (103)

    See also Journal Article Expectation Traps and Monetary Policy, The Review of Economic Studies, Review of Economic Studies Ltd (2003) Downloads View citations (102) (2003)
  2. How do Canadian hours worked respond to a technology shock?
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
  3. Stock Market and Investment Goods Prices: Implications for Macroeconomics
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (63)
  4. What Happens After a Technology Shock?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (403)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2003) Downloads View citations (237)

2002

  1. Monetary Policy in a Financial Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (48)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2002) Downloads View citations (29)
    Working Paper Series, Federal Reserve Bank of Chicago (2002) Downloads View citations (29)

    See also Journal Article Monetary policy in a financial crisis, Journal of Economic Theory, Elsevier (2004) Downloads View citations (132) (2004)

2001

  1. How Severe is the Time Inconsistency Problem in Monetary Policy?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (23)
    See also Journal Article How severe is the time-inconsistency problem in monetary policy?, Quarterly Review, Federal Reserve Bank of Minneapolis (2003) Downloads View citations (11) (2003)
  2. Maximum likelihood in the frequency domain: the importance of time-to-plan
    Working Papers (Old Series), Federal Reserve Bank of Cleveland Downloads View citations (4)
    See also Journal Article Maximum likelihood in the frequency domain: the importance of time-to-plan, Journal of Monetary Economics, Elsevier (2003) Downloads View citations (53) (2003)
  3. Money Growth Monitoring and the Taylor Rule
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (107)
  4. Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (504)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2001) Downloads View citations (527)
    Working Paper Series, Federal Reserve Bank of Chicago (2001) Downloads View citations (447)

    See also Journal Article Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy, Journal of Political Economy, University of Chicago Press (2005) Downloads View citations (5311) (2005)

2000

  1. Habit persistence, asset returns and the business cycle
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (164)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (1999) View citations (43)

    See also Journal Article Habit Persistence, Asset Returns, and the Business Cycle, American Economic Review, American Economic Association (2001) Downloads View citations (697) (2001)
  2. Monetary Policy in an International Financial Crisis
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society Downloads View citations (16)
  3. The Conventional Treatment of Seasonality in Business Cycle Analysis: Does it Create Distortions?
    NBER Technical Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    See also Journal Article The conventional treatment of seasonality in business cycle analysis: does it create distortions?, Journal of Monetary Economics, Elsevier (2002) Downloads View citations (15) (2002)
  4. The Expectations Trap Hypothesis
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (66)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2000) Downloads View citations (54)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2000) Downloads View citations (44)

    See also Journal Article The expectations trap hypothesis, Economic Perspectives, Federal Reserve Bank of Chicago (2000) Downloads View citations (40) (2000)
  5. Understanding the Fiscal Theory of the Price Level
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (137)
    See also Journal Article Understanding the fiscal theory of the price level, Economic Review, Federal Reserve Bank of Cleveland (2000) Downloads View citations (131) (2000)

1999

  1. Maximum Likelihood in the Frequency Domain: A Time to Build Example
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (1999) Downloads View citations (6)
    Working Papers, London School of Economics - Centre for Labour Economics (1999) View citations (5)
    Working Papers (Old Series), Federal Reserve Bank of Cleveland (1999) Downloads View citations (4)
  2. Taylor Rules in a Limited Participation Model
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (101)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (1999) View citations (94)
    Working Papers (Old Series), Federal Reserve Bank of Cleveland (1999) Downloads View citations (91)
  3. The Band Pass Filter
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (121)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (1999) Downloads View citations (174)

    See also Journal Article The Band Pass Filter, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2003) View citations (909) (2003)

1998

  1. Modeling Money
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (73)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1997) View citations (7)
  2. Monetary Policy Shocks: What Have We Learned and to What End?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (595)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1997) View citations (39)

    See also Chapter Monetary policy shocks: What have we learned and to what end?, Handbook of Macroeconomics, Elsevier (1999) Downloads View citations (2425) (1999)
  3. Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients
    NBER Technical Working Papers, National Bureau of Economic Research, Inc Downloads View citations (23)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (1998) Downloads View citations (40)

    See also Journal Article Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients, Computational Economics, Springer (2002) Downloads View citations (127) (2002)
  4. Stock market and investment good prices: implications of macroeconomics
    Working Paper Series, Federal Reserve Bank of Chicago Downloads View citations (14)

1997

  1. Algorithms for Solving Dynamic Models with Occasionally Binding Constraints
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1994) Downloads View citations (49)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1994) View citations (50)
    Working Papers (Old Series), Federal Reserve Bank of Cleveland (1997) Downloads View citations (13)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1997) View citations (22)
    University of Western Ontario, Departmental Research Report Series, University of Western Ontario, Department of Economics (1994) Downloads View citations (23)

    See also Journal Article Algorithms for solving dynamic models with occasionally binding constraints, Journal of Economic Dynamics and Control, Elsevier (2000) Downloads View citations (225) (2000)
  2. Habit persistence and asset returns in an exchange economy
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago Downloads View citations (60)
    See also Journal Article HABIT PERSISTENCE AND ASSET RETURNS IN AN EXCHANGE ECONOMY, Macroeconomic Dynamics, Cambridge University Press (1997) Downloads View citations (62) (1997)

1996

  1. Asset Pricing Lessons for Modeling Business Cycles
    Working Papers, Banca Italia - Servizio di Studi View citations (4)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1995) View citations (52)
    NBER Working Papers, National Bureau of Economic Research, Inc (1995) Downloads View citations (49)
    Working Papers, Federal Reserve Bank of Minneapolis (1995) Downloads View citations (39)
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (1995) Downloads View citations (45)
    University of Western Ontario, Departmental Research Report Series, University of Western Ontario, Department of Economics (1995) Downloads View citations (44)
  2. Chaos, Sunspots, and Automatic Stabilizers
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1996) Downloads View citations (7)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (7)

    See also Journal Article Chaos, sunspots and automatic stabilizers, Journal of Monetary Economics, Elsevier (1999) Downloads View citations (124) (1999)
  3. Expectation Traps and Discretion
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (47)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (4)
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1996) View citations (9)

    See also Journal Article Expectation Traps and Discretion, Journal of Economic Theory, Elsevier (1998) Downloads View citations (120) (1998)
  4. Optimal fiscal policy in a business cycle model (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (1)
  5. Sticky Price and Limited Participation Models of Money: A Comparison
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (26)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (11)
    Staff Report, Federal Reserve Bank of Minneapolis (1996) Downloads View citations (68)

    See also Journal Article Sticky price and limited participation models of money: A comparison, European Economic Review, Elsevier (1997) Downloads View citations (369) (1997)

1995

  1. Inside Money, Outside Money and Short Term Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (106)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1995) View citations (67)

    See also Journal Article Inside Money, Outside Money, and Short-Term Interest Rates, Journal of Money, Credit and Banking, Blackwell Publishing (1995) Downloads View citations (104) (1995)
  2. Small Sample Properties of GMM for Business Cycle Analysis
    NBER Technical Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1995) View citations (4)
    Staff Report, Federal Reserve Bank of Minneapolis (1995) Downloads View citations (4)

    See also Journal Article Small-Sample Properties of GMM for Business-Cycle Analysis, Journal of Business & Economic Statistics, American Statistical Association (1996) View citations (36) (1996)
  3. Tobin's Q and asset returns: implications for business cycle analysis
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (11)
    Also in University of Western Ontario, Departmental Research Report Series, University of Western Ontario, Department of Economics (1995) Downloads View citations (2)
    Staff Report, Federal Reserve Bank of Minneapolis (1995) Downloads View citations (9)
    NBER Working Papers, National Bureau of Economic Research, Inc (1995) Downloads View citations (11)

1994

  1. Identification and the effects of monetary policy shocks
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (56)
  2. The Effects of Monetary Policy Shocks: Some Evidence from the Flow of Funds
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (87)
  3. The effects of monetary policy shocks: evidence from the Flow of Funds
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (97)
    See also Journal Article The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds, The Review of Economics and Statistics, MIT Press (1996) Downloads View citations (746) (1996)

1993

  1. Optimal Fiscal Policy in a Business Cycle Model
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (12)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) Downloads View citations (6)

    See also Journal Article Optimal Fiscal Policy in a Business Cycle Model, Journal of Political Economy, University of Chicago Press (1994) Downloads View citations (400) (1994)
  2. Optimality of the Friedman Rule in Economies with Distorting Taxes
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (51)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) Downloads View citations (12)

    See also Journal Article Optimality of the Friedman rule in economies with distorting taxes, Journal of Monetary Economics, Elsevier (1996) Downloads View citations (199) (1996)

1992

  1. Liquidity Effects and the Monetary Transmission Mechanism
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (286)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1992) Downloads View citations (277)

    See also Journal Article Liquidity Effects and the Monetary Transmission Mechanism, American Economic Review, American Economic Association (1992) View citations (311) (1992)
  2. Liquidity Effects, Monetary Policy, and the Business Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (43)
    Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1992) Downloads View citations (39)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1992) View citations (38)

    See also Journal Article Liquidity Effects, Monetary Policy, and the Business Cycle, Journal of Money, Credit and Banking, Blackwell Publishing (1995) Downloads View citations (151) (1995)

1991

  1. Identification and the Liquidity Effect of a Monetary Policy Shock
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (78)
  2. Liquidity effects, monetary policy, and the business cycle (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (4)
  3. Optimal fiscal and monetary policy: some recent results
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (249)
    See also Journal Article Optimal Fiscal and Monetary Policy: Some Recent Results, Journal of Money, Credit and Banking, Blackwell Publishing (1991) Downloads View citations (265) (1991)
  4. Optimal fiscal policy in a stochastic growth model (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (2)

1990

  1. Computational algorithms for solving variants of Fuerst's model
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (4)
  2. Current real business cycle theories and aggregate labor market fluctuations
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (27)
    Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1990) Downloads View citations (182)

    See also Journal Article Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations, American Economic Review, American Economic Association (1992) Downloads View citations (676) (1992)
  3. The Output, Employment, and Interest Rate Effects of Government Consumption
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (28)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (1990) Downloads View citations (21)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1990) Downloads View citations (31)
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1990) View citations (40)

    See also Journal Article The output, employment, and interest rate effects of government consumption, Journal of Monetary Economics, Elsevier (1992) Downloads View citations (172) (1992)
  4. The permanent income hypothesis revisited
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1987) Downloads View citations (5)

    See also Journal Article The Permanent Income Hypothesis Revisited, Econometrica, Econometric Society (1991) Downloads View citations (77) (1991)
  5. Unit roots in real GNP: do we know, and do we care?
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (60)
    Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1989) Downloads View citations (31)
    NBER Working Papers, National Bureau of Economic Research, Inc (1989) Downloads View citations (48)

    See also Journal Article Unit roots in real GNP: Do we know, and do we care?, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1990) Downloads View citations (130) (1990)

1989

  1. Solving a particular growth model by linear quadratic approximation and by value function iteration
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis Downloads View citations (1)
  2. The magnitude of the speculative motive for holding inventories in a real business cycle model
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis Downloads View citations (9)

1988

  1. Is Theory Really Ahead of Measurement? Current Real Business Cycle Theories and Aggregate Labor Market Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (22)
  2. Searching For a Break in GNP
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (11)
    See also Journal Article Searching for a Break in GNP, Journal of Business & Economic Statistics, American Statistical Association (1992) View citations (288) (1992)

1987

  1. Comment on Romer, \"Crazy explanations for the productivity slowdown\"
    Working Papers, Federal Reserve Bank of Minneapolis Downloads
  2. Dynamic properties of two approximate solutions to a particular growth model
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (1)
  3. Estimating continuous time rational expectations models in frequency domain: a case study
    Working Papers, Federal Reserve Bank of Minneapolis Downloads
  4. Intertemporal substitution and smoothness of consumption
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (2)
  5. Is consumption insufficiently sensitive to innovations in income?
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (19)
    See also Journal Article Is Consumption Insufficiently Sensitive to Innovations in Income?, American Economic Review, American Economic Association (1987) Downloads View citations (18) (1987)
  6. Money does Granger-cause output in the bivariate output-money relation
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (16)
  7. Money does Granger-cause output in the bivariate output-money relation (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis Downloads
  8. Temporal aggregation and structural inference in macroeconomics
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (40)
    Also in NBER Technical Working Papers, National Bureau of Economic Research, Inc (1986) Downloads View citations (14)

    See also Journal Article Temporal aggregation and structural inference in macroeconomics, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1987) Downloads View citations (76) (1987)
  9. Temporal aggregation and the stock adjustment model of inventories
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (2)
  10. Why does inventory investment fluctuate so much? Or: does the stock market dance to its own music? (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (1)

1986

  1. A continuous time, general equilibrium, inventory-sales model
    Working Papers, Federal Reserve Bank of Minneapolis Downloads
    Also in Working Papers, Federal Reserve Bank of Minneapolis (1985) Downloads View citations (1)
  2. On the accuracy of linear quadratic approximations: an example
    Working Papers, Federal Reserve Bank of Minneapolis Downloads View citations (2)
  3. Temporal aggregation bias and government policy evaluation
    Working Papers, Federal Reserve Bank of Minneapolis Downloads

1985

  1. A method for estimating the timing interval in a linear econometric model, with an application to Taylor's model of staggered contracts
    Staff Report, Federal Reserve Bank of Minneapolis Downloads View citations (17)
    See also Journal Article A method for estimating the timing interval in a linear econometric model, with an application to Taylor's model of staggered contracts, Journal of Economic Dynamics and Control, Elsevier (1985) Downloads View citations (15) (1985)

1981

  1. Rational expectations, hyperinflation, and the demand for money
    Working Papers, Federal Reserve Bank of Minneapolis Downloads

1980

  1. The term structure of interest rates and the aliasing identification problem
    Working Papers, Federal Reserve Bank of Minneapolis Downloads

Journal Articles

2022

  1. Financial frictions in macroeconomics
    Journal of International Money and Finance, 2022, 122, (C) Downloads
  2. Modelling the Great Recession as a Bank Panic: Challenges
    Economica, 2022, 89, (S1), S200-S238 Downloads

2021

  1. Involuntary Unemployment and the Business Cycle
    Review of Economic Dynamics, 2021, 39, 26-54 Downloads View citations (4)
    See also Software Item Code and data files for "Involuntary Unemployment and the Business Cycle", Computer Codes (2020) Downloads (2020)
    Working Paper Online Appendix to "Involuntary Unemployment and the Business Cycle", Online Appendices (2020) Downloads View citations (4) (2020)
    Working Paper Involuntary Unemployment and the Business Cycle, 2016 Meeting Papers (2016) Downloads View citations (1) (2016)
  2. Why is Unemployment so Countercyclical?
    Review of Economic Dynamics, 2021, 41, 4-37 Downloads View citations (8)
    See also Working Paper Why is Unemployment so Countercyclical?, NBER Working Papers (2020) Downloads View citations (3) (2020)

2018

  1. Comment
    NBER Macroeconomics Annual, 2018, 32, (1), 227 - 245 Downloads
  2. On DSGE Models
    Journal of Economic Perspectives, 2018, 32, (3), 113-40 Downloads View citations (52)
    See also Working Paper On DSGE Models, NBER Working Papers (2018) Downloads View citations (52) (2018)

2016

  1. Bank Leverage and Social Welfare
    American Economic Review, 2016, 106, (5), 560-64 Downloads View citations (15)
  2. Comment
    NBER Macroeconomics Annual, 2016, 30, (1), 346 - 373 Downloads
  3. Unemployment and Business Cycles
    Econometrica, 2016, 84, 1523-1569 Downloads View citations (118)
    Also in Econometrica, 2016, 84, (4), 1523-1569 (2016) Downloads View citations (51)

    See also Working Paper Unemployment and Business Cycles, NBER Working Papers (2013) Downloads View citations (43) (2013)

2015

  1. Comment
    NBER Macroeconomics Annual, 2015, 29, (1), 279 - 284 Downloads
  2. Understanding the Great Recession
    American Economic Journal: Macroeconomics, 2015, 7, (1), 110-67 Downloads View citations (269)
    See also Chapter Understanding the Great Recession, NBER Chapters, 2013 (2013) View citations (5) (2013)
    Working Paper Understanding the Great Recession, International Finance Discussion Papers (2014) Downloads View citations (17) (2014)

2014

  1. Risk Shocks
    American Economic Review, 2014, 104, (1), 27-65 Downloads View citations (546)
    See also Working Paper Risk Shocks, NBER Working Papers (2013) Downloads View citations (35) (2013)

2012

  1. Christopher A. Sims and Vector Autoregressions
    Scandinavian Journal of Economics, 2012, 114, (4), 1082-1104 Downloads View citations (14)
  2. Comment
    NBER Macroeconomics Annual, 2012, 26, (1), 361 - 380 Downloads

2011

  1. Commentary: Remarks on Unconventional Monetary Policy
    International Journal of Central Banking, 2011, 7, (1), 121-130 Downloads View citations (3)
  2. Firm-Specific Capital, Nominal Rigidities and the Business Cycle
    Review of Economic Dynamics, 2011, 14, (2), 225-247 Downloads View citations (262)
    See also Software Item Code files for "Firm-Specific Capital, Nominal Rigidities and the Business Cycle", Computer Codes (2010) Downloads (2010)
    Working Paper Firm-specific capital, nominal rigidities and the business cycle, International Finance Discussion Papers (2010) Downloads View citations (128) (2010)
    Working Paper Online Appendix to "Firm-Specific Capital, Nominal Rigidities and the Business Cycle", Online Appendices (2005) Downloads View citations (59) (2005)
  3. Introducing financial frictions and unemployment into a small open economy model
    Journal of Economic Dynamics and Control, 2011, 35, (12), 1999-2041 Downloads View citations (319)
    See also Working Paper Introducing Financial Frictions and Unemployment into a Small Open Economy Model, Working Paper Series (2011) Downloads View citations (326) (2011)
  4. Política monetaria y auges del mercado bursátil
    Monetaria, 2011, XXXIV, (2), 257-319 Downloads
  5. When Is the Government Spending Multiplier Large?
    Journal of Political Economy, 2011, 119, (1), 78 - 121 Downloads View citations (1482)
    See also Working Paper When is the government spending multiplier large?, FRB Atlanta CQER Working Paper (2010) Downloads View citations (15) (2010)

2010

  1. Monetary policy and stock market booms
    Proceedings - Economic Policy Symposium - Jackson Hole, 2010, 85-145 Downloads View citations (95)
    See also Working Paper Monetary Policy and Stock Market Booms, Working Papers (2011) Downloads View citations (6) (2011)

2009

  1. Optimal monetary policy in a [`]sudden stop'
    Journal of Monetary Economics, 2009, 56, (4), 582-595 Downloads View citations (27)
    See also Working Paper Optimal Monetary Policy in a 'Sudden Stop', NBER Working Papers (2007) Downloads View citations (33) (2007)

2008

  1. Shocks, structures or monetary policies? The Euro Area and US after 2001
    Journal of Economic Dynamics and Control, 2008, 32, (8), 2476-2506 Downloads View citations (127)
    See also Working Paper Shocks, Structures or Monetary Policies? The Euro Area and US After 2001, NBER Working Papers (2007) Downloads View citations (40) (2007)

2007

  1. Comment
    Journal of Business & Economic Statistics, 2007, 25, 143-151 Downloads

2006

  1. Alternative Procedures for Estimating Vector Autoregressions Identified with Long-Run Restrictions
    Journal of the European Economic Association, 2006, 4, (2-3), 475-483 Downloads View citations (23)
    See also Working Paper Alternative procedures for estimating vector autoregressions identified with long-run restrictions, International Finance Discussion Papers (2005) Downloads View citations (4) (2005)

2005

  1. Bubbles, financial shocks, and monetary policy
    Proceedings, 2005 Downloads View citations (1)
  2. Comment on: "Tax distortions and the case for price stability"
    Journal of Monetary Economics, 2005, 52, (1), 275-280 Downloads
  3. Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
    Journal of Political Economy, 2005, 113, (1), 1-45 Downloads View citations (5311)
    Also in Proceedings, 2001, (Jun) (2001) Downloads View citations (313)

    See also Working Paper Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy, NBER Working Papers (2001) Downloads View citations (504) (2001)

2004

  1. Introduction: macroeconomic implications of capital flows in a global economy
    Journal of Economic Theory, 2004, 119, (1), 1-5 Downloads
  2. Monetary policy in a financial crisis
    Journal of Economic Theory, 2004, 119, (1), 64-103 Downloads View citations (132)
    See also Working Paper Monetary Policy in a Financial Crisis, NBER Working Papers (2002) Downloads View citations (48) (2002)
  3. The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology
    Journal of the European Economic Association, 2004, 2, (2-3), 381-395 Downloads View citations (128)
    See also Working Paper The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology, NBER Working Papers (2004) Downloads View citations (135) (2004)

2003

  1. Expectation Traps and Monetary Policy
    The Review of Economic Studies, 2003, 70, (4), 715-741 Downloads View citations (102)
    See also Working Paper Expectation traps and monetary policy, Staff Report (2003) Downloads View citations (85) (2003)
  2. How severe is the time-inconsistency problem in monetary policy?
    Quarterly Review, 2003, 27, (Sum), 17-33 Downloads View citations (11)
    See also Working Paper How Severe is the Time Inconsistency Problem in Monetary Policy?, NBER Working Papers (2001) Downloads View citations (23) (2001)
  3. Inflation and monetary policy in the twentieth century
    Economic Perspectives, 2003, 27, (Q I), 22-45 Downloads View citations (15)
  4. Maximum likelihood in the frequency domain: the importance of time-to-plan
    Journal of Monetary Economics, 2003, 50, (4), 789-815 Downloads View citations (53)
    See also Working Paper Maximum likelihood in the frequency domain: the importance of time-to-plan, Working Papers (Old Series) (2001) Downloads View citations (4) (2001)
  5. The Band Pass Filter
    International Economic Review, 2003, 44, (2), 435-465 View citations (909)
    See also Working Paper The Band Pass Filter, NBER Working Papers (1999) Downloads View citations (121) (1999)
  6. The Great Depression and the Friedman-Schwartz hypothesis
    Proceedings, 2003, 1119-1215 View citations (265)
    See also Working Paper The Great Depression and the Friedman-Schwartz Hypothesis, NBER Working Papers (2004) Downloads View citations (72) (2004)

2002

  1. Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients
    Computational Economics, 2002, 20, (1-2), 21-55 Downloads View citations (127)
    See also Working Paper Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients, NBER Technical Working Papers (1998) Downloads View citations (23) (1998)
  2. The conventional treatment of seasonality in business cycle analysis: does it create distortions?
    Journal of Monetary Economics, 2002, 49, (2), 335-364 Downloads View citations (15)
    See also Working Paper The Conventional Treatment of Seasonality in Business Cycle Analysis: Does it Create Distortions?, NBER Technical Working Papers (2000) Downloads View citations (2) (2000)
  3. What is a good macroeconomic model for a central bank to use? panel discussion
    Proceedings, 2002, (Mar) Downloads View citations (3)
    Also in Proceedings, 2002, (Mar) (2002) Downloads

2001

  1. Comment on The Costs of Losing Monetary Independence: The Case of Mexico
    Journal of Money, Credit and Banking, 2001, 33, (2), 398-403 View citations (2)
  2. Habit Persistence, Asset Returns, and the Business Cycle
    American Economic Review, 2001, 91, (1), 149-166 Downloads View citations (697)
    See also Working Paper Habit persistence, asset returns and the business cycle, Staff Report (2000) Downloads View citations (164) (2000)

2000

  1. Algorithms for solving dynamic models with occasionally binding constraints
    Journal of Economic Dynamics and Control, 2000, 24, (8), 1179-1232 Downloads View citations (225)
    See also Working Paper Algorithms for Solving Dynamic Models with Occasionally Binding Constraints, NBER Technical Working Papers (1997) View citations (13) (1997)
  2. Comment on Theoretical Analysis Regarding a Zero Lower Bound on Nominal Interest Rates
    Journal of Money, Credit and Banking, 2000, 32, (4), 905-30 View citations (17)
  3. Price stability: is a tough central bank enough?
    Economic Commentary, 2000, (Aug) Downloads
  4. The expectations trap hypothesis
    Economic Perspectives, 2000, 25, (Q II), 21-39 Downloads View citations (40)
    See also Working Paper The Expectations Trap Hypothesis, NBER Working Papers (2000) Downloads View citations (66) (2000)
  5. Understanding the fiscal theory of the price level
    Economic Review, 2000, (Q II), 2-38 Downloads View citations (131)
    See also Working Paper Understanding the Fiscal Theory of the Price Level, NBER Working Papers (2000) Downloads View citations (137) (2000)

1999

  1. Chaos, sunspots and automatic stabilizers
    Journal of Monetary Economics, 1999, 44, (1), 3-31 Downloads View citations (124)
    See also Working Paper Chaos, Sunspots, and Automatic Stabilizers, NBER Working Papers (1996) Downloads View citations (17) (1996)
  2. The Research Agenda: Larry Christiano and Martin Eichenbaum write about their current research program on the monetary transmission mechanism
    EconomicDynamics Newsletter, 1999, 1, (1) Downloads View citations (6)

1998

  1. Expectation Traps and Discretion
    Journal of Economic Theory, 1998, 81, (2), 462-492 Downloads View citations (120)
    See also Working Paper Expectation Traps and Discretion, NBER Working Papers (1996) Downloads View citations (47) (1996)
  2. The business cycle: it's still a puzzle
    Economic Perspectives, 1998, 22, (Q IV), 56-83 Downloads View citations (65)

1997

  1. Dynamic effects of monetary policy; a conference sponsored by the Federal Reserve Bank of Cleveland, November 6-8, 1996
    Proceedings, 1997, (Nov)
  2. HABIT PERSISTENCE AND ASSET RETURNS IN AN EXCHANGE ECONOMY
    Macroeconomic Dynamics, 1997, 1, (2), 312-332 Downloads View citations (62)
    See also Working Paper Habit persistence and asset returns in an exchange economy, Working Paper Series, Macroeconomic Issues (1997) Downloads View citations (60) (1997)
  3. Sticky price and limited participation models of money: A comparison
    European Economic Review, 1997, 41, (6), 1201-1249 Downloads View citations (369)
    See also Working Paper Sticky Price and Limited Participation Models of Money: A Comparison, NBER Working Papers (1996) Downloads View citations (26) (1996)

1996

  1. Identification and the liquidity effect: a case study
    Economic Perspectives, 1996, 20, (May), 2-13 Downloads View citations (4)
  2. Optimality of the Friedman rule in economies with distorting taxes
    Journal of Monetary Economics, 1996, 37, (2-3), 203-223 Downloads View citations (199)
    See also Working Paper Optimality of the Friedman Rule in Economies with Distorting Taxes, NBER Working Papers (1993) Downloads View citations (51) (1993)
  3. Small-Sample Properties of GMM for Business-Cycle Analysis
    Journal of Business & Economic Statistics, 1996, 14, (3), 309-27 View citations (36)
    See also Working Paper Small Sample Properties of GMM for Business Cycle Analysis, NBER Technical Working Papers (1995) Downloads View citations (13) (1995)
  4. The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds
    The Review of Economics and Statistics, 1996, 78, (1), 16-34 Downloads View citations (746)
    Also in Proceedings, 1994, (Apr) (1994) View citations (39)

    See also Working Paper The effects of monetary policy shocks: evidence from the Flow of Funds, Working Paper Series, Macroeconomic Issues (1994) View citations (97) (1994)
  5. Time to plan and aggregate fluctuations
    Quarterly Review, 1996, 20, (Win), 14-27 Downloads View citations (67)

1995

  1. Inside Money, Outside Money, and Short-Term Interest Rates
    Journal of Money, Credit and Banking, 1995, 27, (4), 1354-86 Downloads View citations (104)
    Also in Proceedings, 1994, 1354-1401 (1994) View citations (16)

    See also Working Paper Inside Money, Outside Money and Short Term Interest Rates, NBER Working Papers (1995) Downloads View citations (106) (1995)
  2. Liquidity Effects, Monetary Policy, and the Business Cycle
    Journal of Money, Credit and Banking, 1995, 27, (4), 1113-36 Downloads View citations (151)
    See also Working Paper Liquidity Effects, Monetary Policy, and the Business Cycle, NBER Working Papers (1992) Downloads View citations (43) (1992)
  3. Resolving the liquidity effect: commentary
    Review, 1995, (May), 55-62 Downloads View citations (3)
    Also in Proceedings, 1995, (May), 55-62 (1995) Downloads View citations (8)

1994

  1. Optimal Fiscal Policy in a Business Cycle Model
    Journal of Political Economy, 1994, 102, (4), 617-52 Downloads View citations (400)
    See also Working Paper Optimal Fiscal Policy in a Business Cycle Model, NBER Working Papers (1993) Downloads View citations (12) (1993)

1993

  1. Interest rate smoothing in an equilibrium business cycle model
    Proceedings, 1993, (Mar) View citations (4)

1992

  1. Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations
    American Economic Review, 1992, 82, (3), 430-50 Downloads View citations (676)
    See also Working Paper Current real business cycle theories and aggregate labor market fluctuations, Working Paper Series, Macroeconomic Issues (1990) View citations (27) (1990)
  2. Liquidity Effects and the Monetary Transmission Mechanism
    American Economic Review, 1992, 82, (2), 346-53 View citations (311)
    See also Working Paper Liquidity Effects and the Monetary Transmission Mechanism, NBER Working Papers (1992) Downloads View citations (286) (1992)
  3. Liquidity effects, the monetary transmission mechanism, and monetary policy
    Economic Perspectives, 1992, 16, (Nov), 2-14 Downloads View citations (74)
  4. Searching for a Break in GNP
    Journal of Business & Economic Statistics, 1992, 10, (3), 237-50 View citations (288)
    See also Working Paper Searching For a Break in GNP, NBER Working Papers (1988) Downloads View citations (11) (1988)
  5. The output, employment, and interest rate effects of government consumption
    Journal of Monetary Economics, 1992, 30, (1), 73-86 Downloads View citations (172)
    See also Working Paper The Output, Employment, and Interest Rate Effects of Government Consumption, NBER Working Papers (1990) Downloads View citations (28) (1990)

1991

  1. Modeling the liquidity effect of a money shock
    Quarterly Review, 1991, 15, (Win), 3-34 Downloads View citations (98)
  2. Optimal Fiscal and Monetary Policy: Some Recent Results
    Journal of Money, Credit and Banking, 1991, 23, (3), 519-39 Downloads View citations (265)
    Also in Proceedings, 1991, 519-546 (1991) View citations (260)

    See also Working Paper Optimal fiscal and monetary policy: some recent results, Staff Report (1991) Downloads View citations (249) (1991)
  3. The Permanent Income Hypothesis Revisited
    Econometrica, 1991, 59, (2), 397-423 Downloads View citations (77)
    See also Working Paper The permanent income hypothesis revisited, Staff Report (1990) Downloads View citations (1) (1990)

1990

  1. Linear-Quadratic Approximation and Value-Function Iteration: A Comparison
    Journal of Business & Economic Statistics, 1990, 8, (1), 99-113 View citations (51)
  2. Solving the Stochastic Growth Model by Linear-Quadratic Approximation and by Value-Function Iteration
    Journal of Business & Economic Statistics, 1990, 8, (1), 23-26 View citations (40)
  3. Unit roots in real GNP: Do we know, and do we care?
    Carnegie-Rochester Conference Series on Public Policy, 1990, 32, (1), 7-61 Downloads View citations (130)
    See also Working Paper Unit roots in real GNP: do we know, and do we care?, Working Paper Series, Macroeconomic Issues (1990) View citations (60) (1990)

1989

  1. P*: not the inflation forecaster's holy grail
    Quarterly Review, 1989, 13, (Fall), 3-18 Downloads View citations (27)
  2. Understanding Japan's saving rate: the reconstruction hypothesis
    Quarterly Review, 1989, 13, (Spr), 10-25 Downloads View citations (42)

1988

  1. Money does Granger-cause output in the bivariate money-output relation
    Journal of Monetary Economics, 1988, 22, (2), 217-235 Downloads View citations (83)
  2. Why does inventory investment fluctuate so much?
    Journal of Monetary Economics, 1988, 21, (2-3), 247-280 Downloads View citations (206)

1987

  1. Cagan's Model of Hyperinflation under Rational Expectations
    International Economic Review, 1987, 28, (1), 33-49 Downloads View citations (14)
  2. Is Consumption Insufficiently Sensitive to Innovations in Income?
    American Economic Review, 1987, 77, (2), 337-41 Downloads View citations (18)
    See also Working Paper Is consumption insufficiently sensitive to innovations in income?, Staff Report (1987) Downloads View citations (19) (1987)
  3. Temporal aggregation and structural inference in macroeconomics
    Carnegie-Rochester Conference Series on Public Policy, 1987, 26, (1), 63-130 Downloads View citations (76)
    See also Working Paper Temporal aggregation and structural inference in macroeconomics, Working Papers (1987) Downloads View citations (40) (1987)
  4. Why is consumption less volatile than income?
    Quarterly Review, 1987, 11, (Fall), 2-20 Downloads View citations (13)

1986

  1. Money and the U.S. economy in the 1980s: a break from the past?
    Quarterly Review, 1986, 10, (Sum), 2-13 Downloads View citations (13)

1985

  1. A method for estimating the timing interval in a linear econometric model, with an application to Taylor's model of staggered contracts
    Journal of Economic Dynamics and Control, 1985, 9, (4), 363-404 Downloads View citations (15)
    See also Working Paper A method for estimating the timing interval in a linear econometric model, with an application to Taylor's model of staggered contracts, Staff Report (1985) Downloads View citations (17) (1985)

1984

  1. A reexamination of the theory of automatic stabilizers
    Carnegie-Rochester Conference Series on Public Policy, 1984, 20, (1), 147-206 Downloads View citations (22)
  2. Reply to Olivier Blanchard
    Carnegie-Rochester Conference Series on Public Policy, 1984, 20, (1), 209-210 Downloads

1981

  1. A Survey of Measures of Capacity Utilization (Mesures de l'utilisation des capacités de production) (Estudio de mediciones de utilización de la capacidad)
    IMF Staff Papers, 1981, 28, (1), 144-198 Downloads View citations (1)

Chapters

2024

  1. The International Monetary Transmission Mechanism
    A chapter in NBER Macroeconomics Annual 2024, volume 39, 2024 Downloads

2017

  1. Comment on "Michelson-Morley, Fisher, and Occam: The Radical Implications of Stable Quiet Inflation at the Zero Bound"
    A chapter in NBER Macroeconomics Annual 2017, volume 32, 2017, pp 227-245

2015

  1. Comment on "Networks and the Macroeconomy: An Empirical Exploration"
    A chapter in NBER Macroeconomics Annual 2015, Volume 30, 2015, pp 346-373 Downloads View citations (3)

2014

  1. Comment on "Whither News Shocks?"
    A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014, pp 279-284 Downloads
  2. Leverage Restrictions in a Business Cycle Model
    Chapter 7 in Macroeconomic and Financial Stability: challenges for Monetary Policy, 2014, vol. 19, pp 215-216 Downloads View citations (10)
    See also Working Paper Leverage Restrictions in a Business Cycle Model, Central Bank of Chile (2014) Downloads View citations (20) (2014)
  3. Macroeconomic and Financial Stability: An Overview
    Chapter 1 in Macroeconomic and Financial Stability: challenges for Monetary Policy, 2014, vol. 19, pp 1-22 Downloads View citations (13)

2013

  1. Understanding the Great Recession
    A chapter in Lessons from the Financial Crisis for Monetary Policy, 2013 View citations (5)
    See also Journal Article Understanding the Great Recession, American Economic Association (2015) Downloads View citations (269) (2015)
    Working Paper Understanding the Great Recession, Board of Governors of the Federal Reserve System (U.S.) (2014) Downloads View citations (17) (2014)

2012

  1. Comment on "The Household Effects of Government Spending"
    A chapter in Fiscal Policy after the Financial Crisis, 2012, pp 141-149 Downloads

2011

  1. Comment on "Unemployment in an Estimated New Keynesian Model"
    A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 361-380 Downloads View citations (5)
  2. Comment on "What Fiscal Policy is Effective at Zero Interest Rates?"
    A chapter in NBER Macroeconomics Annual 2010, volume 25, 2011, pp 113-124 Downloads View citations (4)

2010

  1. DSGE Models for Monetary Policy Analysis
    Chapter 07 in Handbook of Monetary Economics, 2010, vol. 3, pp 285-367 Downloads View citations (201)
    See also Working Paper DSGE Models for Monetary Policy Analysis, National Bureau of Economic Research, Inc (2010) Downloads View citations (236) (2010)

2007

  1. Assessing Structural VARs
    A chapter in NBER Macroeconomics Annual 2006, Volume 21, 2007, pp 1-106 Downloads View citations (66)
    See also Working Paper Assessing Structural VARs, National Bureau of Economic Research, Inc (2006) Downloads View citations (179) (2006)

1999

  1. Monetary policy shocks: What have we learned and to what end?
    Chapter 02 in Handbook of Macroeconomics, 1999, vol. 1, Part A, pp 65-148 Downloads View citations (2425)
    See also Working Paper Monetary Policy Shocks: What Have We Learned and to What End?, National Bureau of Economic Research, Inc (1998) Downloads View citations (595) (1998)

Software Items

2021

  1. Code and data files for "Why is Unemployment so Countercyclical?"
    Computer Codes, Review of Economic Dynamics Downloads

2020

  1. Code and data files for "Involuntary Unemployment and the Business Cycle"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article Involuntary Unemployment and the Business Cycle, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) Downloads View citations (4) (2021)

2011

  1. Dynare Exercise
    QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles Downloads

2010

  1. Code files for "Firm-Specific Capital, Nominal Rigidities and the Business Cycle"
    Computer Codes, Review of Economic Dynamics Downloads
    See also Journal Article Firm-Specific Capital, Nominal Rigidities and the Business Cycle, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) Downloads View citations (262) (2011)
 
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