Details about Martin Eichenbaum

Homepage:	https://faculty.wcas.northwestern.edu/~yona/
Phone:	847-491-8232
Postal address:	Department of Economics Northwestern University 2211 Campus Drive Evanston, IL 60208-2600
Workplace:	Department of Economics, Northwestern University, (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC)

Access statistics for papers by Martin Eichenbaum.

Last updated 2025-01-06. Update your information in the RePEc Author Service.

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Working Papers

2025

Banks and the State-Dependent Effects of Monetary Policy
NBER Working Papers, National Bureau of Economic Research, Inc
Substitution Bias and Fixed-Weight Price Indices in Time-Dependent Pricing Models
NBER Working Papers, National Bureau of Economic Research, Inc

2024

Measured Inflation and the New-Keynesian Model
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
Slow Learning
NBER Working Papers, National Bureau of Economic Research, Inc

2022

Epidemics in the Neoclassical and New-Keynesian Models
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (36)
Expectations, Infections, and Economic Activity
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (4)
See also Journal Article Expectations, Infections, and Economic Activity, Journal of Political Economy, University of Chicago Press (2024) View citations (1) (2024)
The Macroeconomics of Testing and Quarantining
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (40)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (40)

2021

Fiscal Stimulus with Imperfect Expectations: Spending vs. Tax Policy
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
See also Journal Article Fiscal stimulus with imperfect expectations: Spending vs. tax policy, Journal of Economic Theory, Elsevier (2024) View citations (1) (2024)
Inequality in Life and Death
CEPR Discussion Papers, C.E.P.R. Discussion Papers
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (6)
See also Journal Article Inequality in Life and Death, IMF Economic Review, Palgrave Macmillan (2022) View citations (5) (2022)

2020

Epidemics in the New Keynesian Model
NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
State Dependent Effects of Monetary Policy: the Refinancing Channel
Working Papers, Princeton University. Economics Department. View citations (1)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (28)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (27)
See also Journal Article State-Dependent Effects of Monetary Policy: The Refinancing Channel, American Economic Review, American Economic Association (2022) View citations (34) (2022)
The Macroeconomics of Epidemics
NBER Working Papers, National Bureau of Economic Research, Inc View citations (688)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (692)
See also Journal Article The Macroeconomics of Epidemics, The Review of Financial Studies, Society for Financial Studies (2021) View citations (208) (2021)
Why is Unemployment so Countercyclical?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
See also Journal Article Why is Unemployment so Countercyclical?, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) View citations (10) (2021)

2018

Does the New Keynesian Model Have a Uniqueness Problem?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
On DSGE Models
NBER Working Papers, National Bureau of Economic Research, Inc View citations (52)
See also Journal Article On DSGE Models, Journal of Economic Perspectives, American Economic Association (2018) View citations (52) (2018)

2017

Monetary Policy and the Predictability of Nominal Exchange Rates
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (15)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (30)
NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (28)
See also Journal Article Monetary Policy and the Predictability of Nominal Exchange Rates, The Review of Economic Studies, Review of Economic Studies Ltd (2021) View citations (35) (2021)

2015

Long-run Bulls and Bears
NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (26)
See also Journal Article Long-run bulls and bears, Journal of Monetary Economics, Elsevier (2015) View citations (26) (2015)

2014

Understanding the Great Recession
NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2014) View citations (17)
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) View citations (290) (2015)

2003

Fiscal Shocks and Their Consequences
NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
See also Journal Article Fiscal shocks and their consequences, Journal of Economic Theory, Elsevier (2004) View citations (350) (2004)
How do Canadian hours worked respond to a technology shock?
International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
What Happens After a Technology Shock?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (405)
Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2003) View citations (237)
Why is Inflation so Low after Large Devaluations?
CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (9)

2002

Why Are Rates of Inflation So Low After Large Devaluations?
RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (85)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (106)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (79)

2001

Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
NBER Working Papers, National Bureau of Economic Research, Inc View citations (498)
Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2001) View citations (521)
Working Paper Series, Federal Reserve Bank of Chicago (2001) View citations (449)
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) View citations (5462) (2005)
On the Fiscal Implications of Twin Crises
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (2001) View citations (7)
Working Paper Series, Federal Reserve Bank of Chicago (2001) View citations (7)
NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (12)
See also Chapter On the Fiscal Implications of Twin Crises, NBER Chapters, National Bureau of Economic Research, Inc (2003) View citations (20) (2003)

2000

Assessing the Effects of Fiscal Shocks
NBER Working Papers, National Bureau of Economic Research, Inc View citations (38)
Also in Working Paper Series, Federal Reserve Bank of Chicago (1999) View citations (17)
Fiscal Shocks in an Efficiency Wage Model
NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
Also in Working Paper Series, Federal Reserve Bank of Chicago (1999) View citations (7)
On the Fundamentals of Self-Fulfilling Prophecies
RCER Working Papers, University of Rochester - Center for Economic Research (RCER)
On the Fundamentals of Self-Fulfilling Speculative Attacks
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (25)

1999

Hedging and Financial Fragilities in Fixed Exchange Rate Regimes
RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (15)
Hedging and Financial Fragility in Fixed Exchange Rate Regimes
NBER Working Papers, National Bureau of Economic Research, Inc View citations (66)
Also in Working Paper Series, Federal Reserve Bank of Chicago (1999) View citations (71)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (69)
See also Journal Article Hedging and financial fragility in fixed exchange rate regimes, European Economic Review, Elsevier (2001) View citations (149) (2001)
Prospective deficits and the asian currency crisis
Policy Research Working Paper Series, The World Bank View citations (12)
Also in Working Paper Series, Federal Reserve Bank of Chicago (1998) View citations (49)
RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1998) View citations (33)
CEPR Discussion Papers, C.E.P.R. Discussion Papers (1998) View citations (19)
NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (36)
See also Journal Article Prospective Deficits and the Asian Currency Crisis, Journal of Political Economy, University of Chicago Press (2001) View citations (192) (2001)

1998

Modeling Money
NBER Working Papers, National Bureau of Economic Research, Inc View citations (73)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1997) View citations (7)
Monetary Policy Shocks: What Have We Learned and to What End?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (586)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1997) View citations (38)
See also Chapter Monetary policy shocks: What have we learned and to what end?, Handbook of Macroeconomics, Elsevier (1999) View citations (2506) (1999)
Understanding the Effects of a Shock to Government Purchases
NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
Also in Working Paper Series, Federal Reserve Bank of Chicago (1998) View citations (49)
See also Journal Article Understanding the Effects of a Shock to Government Purchases, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (1999) View citations (261) (1999)

1996

Expectation Traps and Discretion
NBER Working Papers, National Bureau of Economic Research, Inc View citations (47)
Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1996) View citations (9)
Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (4)
See also Journal Article Expectation Traps and Discretion, Journal of Economic Theory, Elsevier (1998) View citations (122) (1998)
Sticky Price and Limited Participation Models of Money: A Comparison
NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
Also in Staff Report, Federal Reserve Bank of Minneapolis (1996) View citations (64)
Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (9)
See also Journal Article Sticky price and limited participation models of money: A comparison, European Economic Review, Elsevier (1997) View citations (371) (1997)

1995

Capital Utilization and Returns to Scale
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (279)
Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1995) View citations (279)
Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1995) View citations (234)
NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (271)
See also Chapter Capital Utilization and Returns to Scale, NBER Chapters, National Bureau of Economic Research, Inc (1995) View citations (260) (1995)
Inside Money, Outside Money and Short Term Interest Rates
NBER Working Papers, National Bureau of Economic Research, Inc View citations (107)
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) View citations (105) (1995)
Sectoral Solow Residuals
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1995) View citations (6)
See also Journal Article Sectoral Solow residuals, European Economic Review, Elsevier (1996) View citations (67) (1996)

1994

Factor Hoarding and the Propagation of Business Cycles Shocks
NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)
See also Journal Article Factor-Hoarding and the Propagation of Business-Cycle Shocks, American Economic Review, American Economic Association (1996) View citations (332) (1996)
Identification and the effects of monetary policy shocks
Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (57)
Small Sample Properties of Generalized Method of Moments Based Wald Tests
NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (14)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1994) View citations (13)
The Effects of Monetary Policy Shocks: Some Evidence from the Flow of Funds
NBER Working Papers, National Bureau of Economic Research, Inc View citations (89)
The effects of monetary policy shocks: evidence from the Flow of Funds
Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (96)
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) View citations (760) (1996)

1993

Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates
NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1992) View citations (37)

1992

Liquidity Effects and the Monetary Transmission Mechanism
NBER Working Papers, National Bureau of Economic Research, Inc View citations (290)
Also in Staff Report, Federal Reserve Bank of Minneapolis (1992) View citations (275)
See also Journal Article Liquidity Effects and the Monetary Transmission Mechanism, American Economic Review, American Economic Association (1992) View citations (313) (1992)
Liquidity Effects, Monetary Policy, and the Business Cycle
NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1992) View citations (38)
Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1992) View citations (39)
See also Journal Article Liquidity Effects, Monetary Policy, and the Business Cycle, Journal of Money, Credit and Banking, Blackwell Publishing (1995) View citations (154) (1995)

1991

Identification and the Liquidity Effect of a Monetary Policy Shock
NBER Working Papers, National Bureau of Economic Research, Inc View citations (77)
Liquidity effects, monetary policy, and the business cycle (technical appendix)
Working Papers, Federal Reserve Bank of Minneapolis View citations (4)

1990

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) View citations (180)
See also Journal Article Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations, American Economic Review, American Economic Association (1992) View citations (682) (1992)
Labor Hoarding and the Business Cycle
NBER Working Papers, National Bureau of Economic Research, Inc View citations (193)
See also Journal Article Labor Hoarding and the Business Cycle, Journal of Political Economy, University of Chicago Press (1993) View citations (327) (1993)
Real Business Cycle Theory: Wisdom or Whimsy?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1990) View citations (7)
See also Journal Article Real business-cycle theory: Wisdom or whimsy?, Journal of Economic Dynamics and Control, Elsevier (1991) View citations (45) (1991)
The Output, Employment, and Interest Rate Effects of Government Consumption
NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
Also in Working Papers, Federal Reserve Bank of Minneapolis (1990) View citations (21)
Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1990) 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) View citations (178) (1992)
The permanent income hypothesis revisited
Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (1987) View citations (5)
See also Journal Article The Permanent Income Hypothesis Revisited, Econometrica, Econometric Society (1991) View citations (77) (1991)
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 NBER Working Papers, National Bureau of Economic Research, Inc (1989) View citations (48)
Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1989) View citations (31)
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) View citations (130) (1990)

1988

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 View citations (22)
Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
See also Journal Article Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment, American Economic Review, American Economic Association (1989) View citations (117) (1989)

1987

Estimating Models with Intertemporal Substitution Using Aggregate Time Series Data
NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
See also Journal Article Estimating Models with Intertemporal Substitution Using Aggregate Time Series Data, Journal of Business & Economic Statistics, American Statistical Association (1990) View citations (171) (1990)
Temporal aggregation and structural inference in macroeconomics
Working Papers, Federal Reserve Bank of Minneapolis View citations (40)
Also in NBER Technical Working Papers, National Bureau of Economic Research, Inc (1986) View citations (14)
See also Journal Article Temporal aggregation and structural inference in macroeconomics, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1987) View citations (76) (1987)
Temporal aggregation and the stock adjustment model of inventories
Working Papers, Federal Reserve Bank of Minneapolis View citations (2)

1986

A Time Series Analysis of Representative Agent Models of Consumption andLeisure Choice Under Uncertainty
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
See also Journal Article A Time Series Analysis of Representative Agent Models of Consumption and Leisure Choice Under Uncertainty, The Quarterly Journal of Economics, President and Fellows of Harvard College (1988) View citations (359) (1988)
A continuous time, general equilibrium, inventory-sales model
Working Papers, Federal Reserve Bank of Minneapolis
Also in Working Papers, Federal Reserve Bank of Minneapolis (1985) View citations (1)
Capital Accumulation and Annuities in an Adverse Selection Economy
NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
See also Journal Article Capital Accumulation and Annuities in an Adverse Selection Economy, Journal of Political Economy, University of Chicago Press (1987) View citations (30) (1987)
Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (62)
See also Chapter Do Equilibrium Real Business Cycle Theories Explain Postwar US Business Cycles?, NBER Chapters, National Bureau of Economic Research, Inc (1986) View citations (63) (1986)

Journal Articles

2024

Editorial
NBER Macroeconomics Annual, 2024, 38, (1), xi - xviii
Expectations, Infections, and Economic Activity
Journal of Political Economy, 2024, 132, (8), 2571 - 2611 View citations (1)
See also Working Paper Expectations, Infections, and Economic Activity, CEPR Discussion Papers (2022) View citations (13) (2022)
Fiscal stimulus with imperfect expectations: Spending vs. tax policy
Journal of Economic Theory, 2024, 217, (C) View citations (1)
See also Working Paper Fiscal Stimulus with Imperfect Expectations: Spending vs. Tax Policy, NBER Working Papers (2021) View citations (5) (2021)

2023

Editorial
NBER Macroeconomics Annual, 2023, 37, (1), xi - xvii
On the limits of rational expectations for policy analysis
Canadian Journal of Economics/Revue canadienne d'économique, 2023, 56, (4), 1221-1237

2022

Editorial
NBER Macroeconomics Annual, 2022, 36, (1), xi - xvii
Inequality in Life and Death
IMF Economic Review, 2022, 70, (1), 68-104 View citations (5)
See also Working Paper Inequality in Life and Death, CEPR Discussion Papers (2021) (2021)
State-Dependent Effects of Monetary Policy: The Refinancing Channel
American Economic Review, 2022, 112, (3), 721-61 View citations (34)
See also Working Paper State Dependent Effects of Monetary Policy: the Refinancing Channel, Working Papers (2020) View citations (1) (2020)

2021

Editorial
NBER Macroeconomics Annual, 2021, 35, (1), xi - xvii
Monetary Policy and the Predictability of Nominal Exchange Rates
The Review of Economic Studies, 2021, 88, (1), 192-228 View citations (35)
See also Working Paper Monetary Policy and the Predictability of Nominal Exchange Rates, Finance and Economics Discussion Series (2017) View citations (15) (2017)
The Macroeconomics of Epidemics
(Economic activity and the spread of viral diseases: Evidence from high frequency data)
The Review of Financial Studies, 2021, 34, (11), 5149-5187 View citations (208)
See also Working Paper The Macroeconomics of Epidemics, NBER Working Papers (2020) View citations (688) (2020)
Why is Unemployment so Countercyclical?
Review of Economic Dynamics, 2021, 41, 4-37 View citations (10)
See also Working Paper Why is Unemployment so Countercyclical?, NBER Working Papers (2020) View citations (4) (2020)

2020

BRIDGING THE COVID-19 RECESSION: THE DON PATINKIN LECTURE
Israel Economic Review, 2020, 18, (1), 81-90
Editorial
NBER Macroeconomics Annual, 2020, 34, (1), xi - xviii

2019

Editorial
NBER Macroeconomics Annual, 2019, 33, (1), xi - xvii

2018

Editorial
NBER Macroeconomics Annual, 2018, 32, (1), xiii - xxi
On DSGE Models
Journal of Economic Perspectives, 2018, 32, (3), 113-40 View citations (52)
See also Working Paper On DSGE Models, NBER Working Papers (2018) View citations (52) (2018)
Understanding the Volatility of the Canadian Exchange Rate
C.D. Howe Institute Commentary, 2018, (502) View citations (1)

2017

Editorial
NBER Macroeconomics Annual, 2017, 31, (1), xiii - xvii

2016

Editorial
NBER Macroeconomics Annual, 2016, 30, (1), xi - xiv
Understanding Booms and Busts in Housing Markets
Journal of Political Economy, 2016, 124, (4), 1088 - 1147 View citations (184)
See also Working Paper Understanding Booms and Busts in Housing Markets, 2012 Meeting Papers (2012) View citations (5) (2012)
Unemployment and Business Cycles
Econometrica, 2016, 84, 1523-1569 View citations (133)
Also in Econometrica, 2016, 84, (4), 1523-1569 (2016) View citations (66)
See also Working Paper Unemployment and Business Cycles, NBER Working Papers (2013) View citations (43) (2013)
Valuation Risk and Asset Pricing
Journal of Finance, 2016, 71, (6), 2861-2904 View citations (85)
See also Working Paper Valuation Risk and Asset Pricing, CEPR Discussion Papers (2012) View citations (14) (2012)

2015

Comment
NBER Macroeconomics Annual, 2015, 29, (1), 129 - 145
Long-run bulls and bears
Journal of Monetary Economics, 2015, 76, (S), S21-S36 View citations (26)
See also Working Paper Long-run Bulls and Bears, NBER Working Papers (2015) View citations (26) (2015)
Understanding the Great Recession
American Economic Journal: Macroeconomics, 2015, 7, (1), 110-67 View citations (290)
See also Chapter Understanding the Great Recession, NBER Chapters, 2013 (2013) View citations (5) (2013)
Working Paper Understanding the Great Recession, NBER Working Papers (2014) View citations (41) (2014)

2014

How Frequent Are Small Price Changes?
American Economic Journal: Macroeconomics, 2014, 6, (2), 137-55 View citations (70)
See also Working Paper How Frequent Are Small Price Changes?, NBER Working Papers (2012) View citations (56) (2012)

2012

Comment
NBER Macroeconomics Annual, 2012, 26, (1), 49 - 60

2011

Carry Trade and Momentum in Currency Markets
Annual Review of Financial Economics, 2011, 3, (1), 511-535 View citations (122)
See also Working Paper Carry Trade and Momentum in Currency Markets, CEPR Discussion Papers (2011) View citations (122) (2011)
Do Peso Problems Explain the Returns to the Carry Trade?
The Review of Financial Studies, 2011, 24, (3), 853-891 View citations (252)
See also Working Paper Do Peso Problems Explain the Returns to the Carry Trade?, Working Papers (2010) View citations (42) (2010)
Firm-Specific Capital, Nominal Rigidities and the Business Cycle
Review of Economic Dynamics, 2011, 14, (2), 225-247 View citations (272)
See also Working Paper Online Appendix to "Firm-Specific Capital, Nominal Rigidities and the Business Cycle", Online Appendices (2005) View citations (59) (2005)
Working Paper Firm-specific capital, nominal rigidities and the business cycle, International Finance Discussion Papers (2010) View citations (128) (2010)
Software Item Code files for "Firm-Specific Capital, Nominal Rigidities and the Business Cycle", Computer Codes (2010) (2010)
Reference Prices, Costs, and Nominal Rigidities
American Economic Review, 2011, 101, (1), 234-62 View citations (227)
When Is the Government Spending Multiplier Large?
Journal of Political Economy, 2011, 119, (1), 78 - 121 View citations (1558)
See also Working Paper When is the government spending multiplier large?, FRB Atlanta CQER Working Paper (2010) View citations (15) (2010)

2009

Understanding the Forward Premium Puzzle: A Microstructure Approach
American Economic Journal: Macroeconomics, 2009, 1, (2), 127-54 View citations (68)
See also Working Paper Understanding the Forward Premium Puzzle: A Microstructure Approach, NBER Working Papers (2007) View citations (20) (2007)

2008

Carry Trade: The Gains of Diversification
Journal of the European Economic Association, 2008, 6, (2-3), 581-588 View citations (49)

2007

Estimating the frequency of price re-optimization in Calvo-style models
Journal of Monetary Economics, 2007, 54, (7), 2032-2047 View citations (123)
Modeling exchange rate passthrough after large devaluations
Journal of Monetary Economics, 2007, 54, (2), 346-368 View citations (78)
See also Working Paper Modeling Exchange Rate Passthrough After Large Devaluations, RCER Working Papers (2005) View citations (13) (2005)
The Returns to Currency Speculation in Emerging Markets
American Economic Review, 2007, 97, (2), 333-338 View citations (114)
See also Working Paper The Returns to Currency Speculation in Emerging Markets, NBER Working Papers (2007) View citations (114) (2007)

2006

Alternative Procedures for Estimating Vector Autoregressions Identified with Long-Run Restrictions
Journal of the European Economic Association, 2006, 4, (2-3), 475-483 View citations (23)
See also Working Paper Alternative procedures for estimating vector autoregressions identified with long-run restrictions, International Finance Discussion Papers (2005) View citations (4) (2005)
Government finance in the wake of currency crises
Journal of Monetary Economics, 2006, 53, (3), 401-440 View citations (30)
See also Working Paper Government Finance in the Wake of Currency Crises, 2005 Meeting Papers (2005) View citations (1) (2005)
The importance of nontradable goods' prices in cyclical real exchange rate fluctuations
Japan and the World Economy, 2006, 18, (3), 247-253 View citations (41)
See also Working Paper The Importance of Nontradable Goods' Prices in Cyclical Real Exchange Rate Fluctuations, NBER Working Papers (2005) View citations (23) (2005)

2005

Fiscal Policy in the Aftermath of 9/11
Journal of Money, Credit and Banking, 2005, 37, (1), 1-22 View citations (45)
See also Working Paper Fiscal Policy in the Aftermath of 9/11, NBER Working Papers (2004) View citations (9) (2004)
Large Devaluations and the Real Exchange Rate
Journal of Political Economy, 2005, 113, (4), 742-784 View citations (373)
See also Working Paper Large Devaluations and the Real Exchange Rate, CEPR Discussion Papers (2004) View citations (21) (2004)
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Journal of Political Economy, 2005, 113, (1), 1-45 View citations (5462)
Also in Proceedings, 2001, (Jun) (2001) View citations (350)
See also Working Paper Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy, NBER Working Papers (2001) View citations (498) (2001)

2004

Fiscal shocks and their consequences
Journal of Economic Theory, 2004, 115, (1), 89-117 View citations (350)
See also Working Paper Fiscal Shocks and Their Consequences, NBER Working Papers (2003) View citations (58) (2003)
Government guarantees and self-fulfilling speculative attacks
Journal of Economic Theory, 2004, 119, (1), 31-63 View citations (87)
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 View citations (132)
See also Working Paper The Response of Hours to a Technology Shock: Evidence Based on Direct Measures of Technology, NBER Working Papers (2004) View citations (139) (2004)

2003

Testing the Calvo model of sticky prices
Economic Perspectives, 2003, 27, (Q II), 40-53 View citations (18)

2001

Hedging and financial fragility in fixed exchange rate regimes
European Economic Review, 2001, 45, (7), 1151-1193 View citations (149)
See also Working Paper Hedging and Financial Fragility in Fixed Exchange Rate Regimes, NBER Working Papers (1999) View citations (66) (1999)
Prospective Deficits and the Asian Currency Crisis
Journal of Political Economy, 2001, 109, (6), 1155-1197 View citations (192)
See also Working Paper Prospective deficits and the asian currency crisis, Policy Research Working Paper Series (1999) View citations (12) (1999)

2000

Understanding the Korean and Thai currency crises
Economic Perspectives, 2000, 25, (Q III), 45-60 View citations (4)

1999

The Research Agenda: Larry Christiano and Martin Eichenbaum write about their current research program on the monetary transmission mechanism
EconomicDynamics Newsletter, 1999, 1, (1) View citations (6)
Understanding the Effects of a Shock to Government Purchases
Review of Economic Dynamics, 1999, 2, (1), 166-206 View citations (261)
See also Working Paper Understanding the Effects of a Shock to Government Purchases, NBER Working Papers (1998) View citations (23) (1998)

1998

Costly capital reallocation and the effects of government spending: A comment
Carnegie-Rochester Conference Series on Public Policy, 1998, 48, (1), 195-209 View citations (8)
Expectation Traps and Discretion
Journal of Economic Theory, 1998, 81, (2), 462-492 View citations (122)
See also Working Paper Expectation Traps and Discretion, NBER Working Papers (1996) View citations (47) (1996)
How does an increase in government purchases affect economy?
Economic Perspectives, 1998, 22, (Q III), 29-43 View citations (2)

1997

Dynamic effects of monetary policy; a conference sponsored by the Federal Reserve Bank of Cleveland, November 6-8, 1996
Proceedings, 1997, (Nov)
Some Thoughts on Practical Stabilization Policy
American Economic Review, 1997, 87, (2), 236-39 View citations (49)
Sticky price and limited participation models of money: A comparison
European Economic Review, 1997, 41, (6), 1201-1249 View citations (371)
See also Working Paper Sticky Price and Limited Participation Models of Money: A Comparison, NBER Working Papers (1996) View citations (24) (1996)

1996

Factor-Hoarding and the Propagation of Business-Cycle Shocks
American Economic Review, 1996, 86, (5), 1154-74 View citations (332)
See also Working Paper Factor Hoarding and the Propagation of Business Cycles Shocks, NBER Working Papers (1994) View citations (33) (1994)
Sectoral Solow residuals
European Economic Review, 1996, 40, (3-5), 861-869 View citations (67)
See also Working Paper Sectoral Solow Residuals, NBER Working Papers (1995) View citations (5) (1995)
Small-Sample Properties of GMM-Based Wald Tests
Journal of Business & Economic Statistics, 1996, 14, (3), 294-308 View citations (52)
Some comments on the role of econometrics in economic theory
Economic Perspectives, 1996, 20, (Jan), 22-31 View citations (6)
Also in Economic Journal, 1995, 105, (433), 1609-21 (1995) View citations (12)
The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds
The Review of Economics and Statistics, 1996, 78, (1), 16-34 View citations (760)
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 (96) (1994)

1995

Inside Money, Outside Money, and Short-Term Interest Rates
Journal of Money, Credit and Banking, 1995, 27, (4), 1354-86 View citations (105)
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) View citations (107) (1995)
Liquidity Effects, Monetary Policy, and the Business Cycle
Journal of Money, Credit and Banking, 1995, 27, (4), 1113-36 View citations (154)
See also Working Paper Liquidity Effects, Monetary Policy, and the Business Cycle, NBER Working Papers (1992) View citations (43) (1992)
Some Empirical Evidence on the Effects of Shocks to Monetary Policy on Exchange Rates
The Quarterly Journal of Economics, 1995, 110, (4), 975-1009 View citations (755)

1993

Interest rate smoothing in an equilibrium business cycle model
Proceedings, 1993, (Mar) View citations (4)
Labor Hoarding and the Business Cycle
Journal of Political Economy, 1993, 101, (2), 245-73 View citations (327)
See also Working Paper Labor Hoarding and the Business Cycle, NBER Working Papers (1990) View citations (193) (1990)

1992

'Interpreting the macroeconomic time series facts: The effects of monetary policy': by Christopher Sims
European Economic Review, 1992, 36, (5), 1001-1011 View citations (154)
Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations
American Economic Review, 1992, 82, (3), 430-50 View citations (682)
See also Working Paper Current real business cycle theories and aggregate labor market fluctuations, Working Paper Series, Macroeconomic Issues (1990) View citations (27) (1990)
Liquidity Effects and the Monetary Transmission Mechanism
American Economic Review, 1992, 82, (2), 346-53 View citations (313)
See also Working Paper Liquidity Effects and the Monetary Transmission Mechanism, NBER Working Papers (1992) View citations (290) (1992)
Liquidity effects, the monetary transmission mechanism, and monetary policy
Economic Perspectives, 1992, 16, (Nov), 2-14 View citations (74)
The output, employment, and interest rate effects of government consumption
Journal of Monetary Economics, 1992, 30, (1), 73-86 View citations (178)
See also Working Paper The Output, Employment, and Interest Rate Effects of Government Consumption, NBER Working Papers (1990) View citations (28) (1990)

1991

Real business-cycle theory: Wisdom or whimsy?
Journal of Economic Dynamics and Control, 1991, 15, (4), 607-626 View citations (45)
See also Working Paper Real Business Cycle Theory: Wisdom or Whimsy?, NBER Working Papers (1990) View citations (7) (1990)
Technology shocks and the business cycle
Economic Perspectives, 1991, 15, (Mar), 14-31 View citations (2)
The Permanent Income Hypothesis Revisited
Econometrica, 1991, 59, (2), 397-423 View citations (77)
See also Working Paper The permanent income hypothesis revisited, Staff Report (1990) View citations (1) (1990)

1990

Estimating Models with Intertemporal Substitution Using Aggregate Time Series Data
Journal of Business & Economic Statistics, 1990, 8, (1), 53-69 View citations (171)
See also Working Paper Estimating Models with Intertemporal Substitution Using Aggregate Time Series Data, NBER Working Papers (1987) View citations (6) (1987)
Unit roots in real GNP: Do we know, and do we care?
Carnegie-Rochester Conference Series on Public Policy, 1990, 32, (1), 7-61 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

Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment
American Economic Review, 1989, 79, (4), 853-64 View citations (117)
See also Working Paper Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment, NBER Working Papers (1988) View citations (8) (1988)

1988

A Time Series Analysis of Representative Agent Models of Consumption and Leisure Choice Under Uncertainty
The Quarterly Journal of Economics, 1988, 103, (1), 51-78 View citations (359)
See also Working Paper A Time Series Analysis of Representative Agent Models of Consumption andLeisure Choice Under Uncertainty, NBER Working Papers (1986) View citations (3) (1986)

1987

Capital Accumulation and Annuities in an Adverse Selection Economy
Journal of Political Economy, 1987, 95, (2), 334-54 View citations (30)
See also Working Paper Capital Accumulation and Annuities in an Adverse Selection Economy, NBER Working Papers (1986) View citations (18) (1986)
Temporal aggregation and structural inference in macroeconomics
Carnegie-Rochester Conference Series on Public Policy, 1987, 26, (1), 63-130 View citations (76)
See also Working Paper Temporal aggregation and structural inference in macroeconomics, Working Papers (1987) View citations (40) (1987)

1985

A shred of evidence on public acceptance of privately issued currency
Quarterly Review, 1985, 9, (Win) View citations (3)
The Distribution of Wealth and Welfare in the Presence of Incomplete Annuity Markets
The Quarterly Journal of Economics, 1985, 100, (3), 789-806 View citations (17)
Uncertain lifetimes and the welfare enhancing properties of annuity markets and social security
Journal of Public Economics, 1985, 26, (3), 303-326 View citations (90)
Vector autoregressions for causal inference? comment
Carnegie-Rochester Conference Series on Public Policy, 1985, 22, (1), 305-318 View citations (5)

1984

Rational expectations and the smoothing properties of inventories of finished goods
Journal of Monetary Economics, 1984, 14, (1), 71-96 View citations (45)

1983

A rational expectations equilibrium model of inventories of finished goods and employment
Journal of Monetary Economics, 1983, 12, (2), 259-277 View citations (16)

Books

2024

NBER Macroeconomics Annual 2023, volume 38
NBER Books, National Bureau of Economic Research, Inc

2023

NBER Macroeconomics Annual 2022, volume 37
NBER Books, National Bureau of Economic Research, Inc

2022

NBER Macroeconomics Annual 2021, volume 36
NBER Books, National Bureau of Economic Research, Inc View citations (1)

2021

NBER Macroeconomics Annual 2020, volume 35
NBER Books, National Bureau of Economic Research, Inc

2020

NBER Macroeconomics Annual 2019, volume 34
NBER Books, National Bureau of Economic Research, Inc View citations (1)

2019

NBER Macroeconomics Annual 2018, volume 33
NBER Books, National Bureau of Economic Research, Inc View citations (4)

2018

NBER Macroeconomics Annual 2017, volume 32
NBER Books, National Bureau of Economic Research, Inc

2017

NBER Macroeconomics Annual 2016, Volume 31
NBER Books, National Bureau of Economic Research, Inc View citations (57)

2016

NBER Macroeconomics Annual 2015, Volume 30
NBER Books, National Bureau of Economic Research, Inc View citations (8)

Edited books

2024

NBER Macroeconomics Annual, 2023
National Bureau of Economic Research Books, University of Chicago Press

2023

NBER Macroeconomics Annual, 2022
National Bureau of Economic Research Books, University of Chicago Press

2022

NBER Macroeconomics Annual 2021
National Bureau of Economic Research Books, University of Chicago Press

2021

NBER Macroeconomics Annual 2020
National Bureau of Economic Research Books, University of Chicago Press

2020

NBER Macroeconomics Annual 2019
National Bureau of Economic Research Books, University of Chicago Press View citations (5)

2019

NBER Macroeconomics Annual 2018
National Bureau of Economic Research Books, University of Chicago Press View citations (9)

2018

NBER Macroeconomics Annual 2017
National Bureau of Economic Research Books, University of Chicago Press View citations (14)

2017

NBER Macroeconomics Annual 2016
National Bureau of Economic Research Books, University of Chicago Press View citations (3)

2016

NBER Macroeconomics Annual 2015
National Bureau of Economic Research Books, University of Chicago Press View citations (2)

Undated

NBER Macroeconomics Annual 2016
National Bureau of Economic Research Books, University of Chicago Press View citations (199)

Chapters

2025

Editorial in "NBER Macroeconomics Annual 2024, volume 39"
A chapter in NBER Macroeconomics Annual 2024, volume 39, 2025

2023

Editorial in "NBER Macroeconomics Annual 2023, volume 38"
A chapter in NBER Macroeconomics Annual 2023, volume 38, 2023

2022

Editorial in "NBER Macroeconomics Annual 2022, volume 37"
A chapter in NBER Macroeconomics Annual 2022, volume 37, 2022, pp -11--5 View citations (1)

2021

Editorial in "NBER Macroeconomics Annual 2021, volume 36"
A chapter in NBER Macroeconomics Annual 2021, volume 36, 2021, pp -11--5

2020

Editorial in "NBER Macroeconomics Annual 2020, volume 35"
A chapter in NBER Macroeconomics Annual 2020, volume 35, 2020

2019

Editorial in "NBER Macroeconomics Annual 2019, volume 34"
A chapter in NBER Macroeconomics Annual 2019, volume 34, 2019 View citations (1)

2018

Lessons from the Quiet Zero Lower Bound
Chapter 3 in The Structural Foundations of Monetary Policy, 2018

2017

Editorial in "NBER Macroeconomics Annual 2017, volume 32"
A chapter in NBER Macroeconomics Annual 2017, volume 32, 2017

2016

Editorial in "NBER Macroeconomics Annual 2016, Volume 31"
A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016

2015

Editorial in "NBER Macroeconomics Annual 2015, Volume 30"
A chapter in NBER Macroeconomics Annual 2015, Volume 30, 2015, pp -5--8

2014

Comment on "Quantifying the Lasting Harm to the US Economy from the Financial Crisis"
A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014, pp 129-145

2013

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) View citations (290) (2015)
Working Paper Understanding the Great Recession, National Bureau of Economic Research, Inc (2014) View citations (41) (2014)

2011

Comment on "Natural Expectations, Macroeconomic Dynamics, and Asset Pricing"
A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 49-60 View citations (1)

2007

Assessing Structural VARs
A chapter in NBER Macroeconomics Annual 2006, Volume 21, 2007, pp 1-106 View citations (66)
See also Working Paper Assessing Structural VARs, National Bureau of Economic Research, Inc (2006) View citations (180) (2006)

2003

On the Fiscal Implications of Twin Crises
A chapter in Managing Currency Crises in Emerging Markets, 2003, pp 187-223 View citations (20)
See also Working Paper On the Fiscal Implications of Twin Crises, C.E.P.R. Discussion Papers (2001) View citations (7) (2001)

1999

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 View citations (2506)
See also Working Paper Monetary Policy Shocks: What Have We Learned and to What End?, National Bureau of Economic Research, Inc (1998) View citations (586) (1998)

1995

Capital Utilization and Returns to Scale
A chapter in NBER Macroeconomics Annual 1995, Volume 10, 1995, pp 67-124 View citations (260)
See also Working Paper Capital Utilization and Returns to Scale, C.E.P.R. Discussion Papers (1995) View citations (279) (1995)

1987

Erratum: Do Equilibrium Real Business Cycle Theories Explain Postwar US Business Cycles?
A chapter in NBER Macroeconomics Annual 1987, Volume 2, 1987, pp 317-321

1986

Do Equilibrium Real Business Cycle Theories Explain Postwar US Business Cycles?
A chapter in NBER Macroeconomics Annual 1986, Volume 1, 1986, pp 91-146 View citations (63)
See also Working Paper Do Equilibrium Real Business Cycle Theories Explain Post-War U.S. Business Cycles?, National Bureau of Economic Research, Inc (1986) View citations (62) (1986)

Software Items

2021

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

2010

Code files for "Firm-Specific Capital, Nominal Rigidities and the Business Cycle"
Computer Codes, Review of Economic Dynamics
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) View citations (272) (2011)

2001

Matlab code for On the Fiscal Implications of Twin Crises
QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles