Details about Christopher John Erceg

Access statistics for papers by Christopher John Erceg.

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Short-id: per53

Working Papers

2024

1. Can Energy Subsidies Help Slay Inflation?
   IMF Working Papers, International Monetary Fund View citations (1)
2. Central Bank Exit Strategies Domestic Transmission and International Spillovers
   IMF Working Papers, International Monetary Fund
   Also in Working Papers, Queen Mary University of London, School of Economics and Finance (2024)
3. New Perspectives on Quantitative Easing and Central Bank Capital Policies
   IMF Working Papers, International Monetary Fund View citations (1)

2022

4. Managing Monetary Tradeoffs in Vulnerable Open Economies
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
5. Trade policies and fiscal devaluations
   International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
   See also Journal Article Trade Policies and Fiscal Devaluations, American Economic Journal: Macroeconomics, American Economic Association (2023) View citations (2) (2023)

2021

6. A Quantitative Microfounded Model for the Integrated Policy Framework
   IMF Working Papers, International Monetary Fund View citations (10)

2020

7. A Quantitative Model for the Integrated Policy Framework
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (26)
   Also in IMF Working Papers, International Monetary Fund (2020) View citations (26)

2018

8. Some Implications of Uncertainty and Misperception for Monetary Policy
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
9. The Macroeconomic Effect of Trade Policy
   2018 Meeting Papers, Society for Economic Dynamics View citations (17)
   Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2018) View citations (21)

2017

10. Money-Financed Fiscal Programs: A Cautionary Tale
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (10)

2016

11. International Spillovers of Monetary Policy
    IFDP Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (14)
12. The Macroeconomic Risks of Undesirably Low Inflation
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (16)
    See also Journal Article The macroeconomic risks of undesirably low inflation, European Economic Review, Elsevier (2016) View citations (27) (2016)

2015

13. Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (37)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (36)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2015) View citations (35)
    See also Journal Article Jump-Starting the Euro-Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?, NBER Macroeconomics Annual, University of Chicago Press (2017) View citations (47) (2017)
    Chapter Jump-Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?, NBER Chapters, National Bureau of Economic Research, Inc (2016) View citations (57) (2016)

2013

14. Labor Force Participation and Monetary Policy in the Wake of the Great Recession
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (47)
    Also in IMF Working Papers, International Monetary Fund (2013) View citations (48)
    UTokyo Price Project Working Paper Series, University of Tokyo, Graduate School of Economics (2013) View citations (60)
    See also Journal Article Labor Force Participation and Monetary Policy in the Wake of the Great Recession, Journal of Money, Credit and Banking, Blackwell Publishing (2014) View citations (82) (2014)

2012

15. Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2012) View citations (4)
    See also Journal Article Fiscal consolidation in a currency union: Spending cuts vs. tax hikes, Journal of Economic Dynamics and Control, Elsevier (2013) View citations (139) (2013)
16. Fiscal Consolidation in an Open Economy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (63)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2012) View citations (58)
    See also Journal Article Fiscal Consolidation in an Open Economy, American Economic Review, American Economic Association (2012) View citations (59) (2012)

2010

17. Asymmetric shocks in a currency union with monetary and fiscal handcuffs?
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (19)
    See also Chapter Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs, NBER Chapters, National Bureau of Economic Research, Inc (2010) View citations (24) (2010)
    Journal Article Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs, NBER International Seminar on Macroeconomics, University of Chicago Press (2011) View citations (9) (2011)
18. Effects of Fiscal Stimulus in Structural Models
    IMF Working Papers, International Monetary Fund View citations (112)
    See also Journal Article Effects of Fiscal Stimulus in Structural Models, American Economic Journal: Macroeconomics, American Economic Association (2012) View citations (538) (2012)
19. Is There a Fiscal Free Lunch in a Liquidity Trap?
    2010 Meeting Papers, Society for Economic Dynamics View citations (42)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (104)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2010) View citations (22)
    See also Journal Article IS THERE A FISCAL FREE LUNCH IN A LIQUIDITY TRAP?, Journal of the European Economic Association, European Economic Association (2014) View citations (185) (2014)
20. The Effects of Foreign Shocks When Interest Rates Are at Zero
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (20)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2009) View citations (25)
    See also Journal Article The effects of foreign shocks when interest rates are at zero, Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons (2017) View citations (10) (2017)

2009

21. Did easy money in the dollar bloc fuel the global commodity boom?
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (2)

2008

22. Oil Shocks and External Adjustment
    2008 Meeting Papers, Society for Economic Dynamics View citations (3)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2007) View citations (25)
    See also Journal Article Oil shocks and external adjustment, Journal of International Economics, Elsevier (2011) View citations (238) (2011)
23. Optimal monetary policy with distinct core and headline inflation rates
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (117)
    See also Journal Article Optimal monetary policy with distinct core and headline inflation rates, Journal of Monetary Economics, Elsevier (2008) View citations (109) (2008)

2007

24. The Transmission of Domestic Shocks in Open Economies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (25)
    See also Chapter The Transmission of Domestic Shocks in Open Economies, NBER Chapters, National Bureau of Economic Research, Inc (2007) View citations (24) (2007)
25. The Transmission of Domestic Shocks in the Open Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2007) View citations (15)
26. Three Great American Disinflations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2006) View citations (3)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2007) View citations (8)
    See also Journal Article Three great American disinflations, Proceedings, Federal Reserve Bank of San Francisco (2007) View citations (12) (2007)

2006

27. SIGMA: A New Open Economy Model for Policy Analysis
    MPRA Paper, University Library of Munich, Germany View citations (319)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (263)
    See also Journal Article SIGMA: A New Open Economy Model for Policy Analysis, International Journal of Central Banking, International Journal of Central Banking (2006) View citations (346) (2006)
28. Trade Adjustment and the Composition of Trade
    2006 Meeting Papers, Society for Economic Dynamics View citations (14)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2006) View citations (14)
    See also Journal Article Trade adjustment and the composition of trade, Journal of Economic Dynamics and Control, Elsevier (2008) View citations (55) (2008)

2005

29. Expansionary Fiscal Shocks and the Trade Deficit
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (137)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (82)
    See also Journal Article Expansionary Fiscal Shocks and the US Trade Deficit, International Finance, Wiley Blackwell (2005) View citations (109) (2005)

2004

30. Can Long-Run Restrictions Identify Technology Shocks?
    Computing in Economics and Finance 2004, Society for Computational Economics View citations (48)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (27)
    See also Journal Article Can Long-Run Restrictions Identify Technology Shocks?, Journal of the European Economic Association, MIT Press (2005) View citations (159) (2005)
31. Productivity Growth and the Trade Balance in the 1990s: the Role of Evolving Perceptions
    2004 Meeting Papers, Society for Economic Dynamics View citations (3)

2002

32. Optimal Monetary Policy with Durable and Non-Durable Goods
    Computing in Economics and Finance 2002, Society for Computational Economics View citations (36)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (38)
    Working Paper Series, European Central Bank (2002) View citations (49)

2001

33. Imperfect Credibility and Inflation Persistence
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (81)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2001) View citations (56)
    See also Journal Article Imperfect credibility and inflation persistence, Journal of Monetary Economics, Elsevier (2003) View citations (365) (2003)
34. The Effects of Dollarization on Macroeconomic Stability
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (5)

1999

35. Optimal Monetary Policy with Staggered Wage and Price Contracts
    Computing in Economics and Finance 1999, Society for Computational Economics View citations (97)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations (37)
    See also Journal Article Optimal monetary policy with staggered wage and price contracts, Journal of Monetary Economics, Elsevier (2000) View citations (2036) (2000)

1998

36. Tradeoffs Between Inflation and Output-Gap Variances in an Optimizing-Agent Model
    Working Papers, Stockholm - International Economic Studies View citations (14)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (1998) View citations (13)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (6)

1997

37. Money, Sticky Wages, and the Great Depression
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1997) View citations (7)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (5)
    See also Journal Article Money, Sticky Wages, and the Great Depression, American Economic Review, American Economic Association (2000) View citations (108) (2000)
38. Nominal wage rigidities and the propagation of monetary disturbances
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (49)

1989

39. Theory and evidence of two competitive price mechanisms for steel
    Working Paper Series, Regional Economic Issues, Federal Reserve Bank of Chicago

Journal Articles

2023

1. Trade Policies and Fiscal Devaluations
   American Economic Journal: Macroeconomics, 2023, 15, (4), 104-40 View citations (2)
   See also Working Paper Trade policies and fiscal devaluations, International Finance Discussion Papers (2022) View citations (1) (2022)

2021

2. Monetary policy strategies for the European Central Bank
   Journal of Economic Dynamics and Control, 2021, 132, (C) View citations (18)

2017

3. Jump-Starting the Euro-Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
   NBER Macroeconomics Annual, 2017, 31, (1), 103 - 182 View citations (47)
   See also Working Paper Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?, NBER Working Papers (2015) View citations (37) (2015)
   Chapter Jump-Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?, NBER Chapters, 2016, 103-182 (2016) View citations (57) (2016)
4. Policy credibility and alternative approaches to disinflation
   Research in Economics, 2017, 71, (3), 422-440 View citations (6)
5. The effects of foreign shocks when interest rates are at zero
   Canadian Journal of Economics/Revue canadienne d'économique, 2017, 50, (3), 660-684 View citations (10)
   Also in Canadian Journal of Economics, 2017, 50, (3), 660-684 (2017) View citations (11)
   See also Working Paper The Effects of Foreign Shocks When Interest Rates Are at Zero, CEPR Discussion Papers (2010) View citations (20) (2010)

2016

6. The macroeconomic risks of undesirably low inflation
   European Economic Review, 2016, 88, (C), 88-107 View citations (27)
   See also Working Paper The Macroeconomic Risks of Undesirably Low Inflation, International Finance Discussion Papers (2016) View citations (16) (2016)

2014

7. IS THERE A FISCAL FREE LUNCH IN A LIQUIDITY TRAP?
   Journal of the European Economic Association, 2014, 12, (1), 73-107 View citations (185)
   See also Working Paper Is There a Fiscal Free Lunch in a Liquidity Trap?, 2010 Meeting Papers (2010) View citations (42) (2010)
8. Labor Force Participation and Monetary Policy in the Wake of the Great Recession
   Journal of Money, Credit and Banking, 2014, 46, (S2), 3-49 View citations (82)
   See also Working Paper Labor Force Participation and Monetary Policy in the Wake of the Great Recession, CEPR Discussion Papers (2013) View citations (47) (2013)

2013

9. Fiscal consolidation in a currency union: Spending cuts vs. tax hikes
   Journal of Economic Dynamics and Control, 2013, 37, (2), 422-445 View citations (139)
   See also Working Paper Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes, CEPR Discussion Papers (2012) View citations (7) (2012)

2012

10. Effects of Fiscal Stimulus in Structural Models
    American Economic Journal: Macroeconomics, 2012, 4, (1), 22-68 View citations (538)
    See also Working Paper Effects of Fiscal Stimulus in Structural Models, IMF Working Papers (2010) View citations (112) (2010)
11. Fiscal Consolidation in an Open Economy
    American Economic Review, 2012, 102, (3), 186-91 View citations (59)
    See also Working Paper Fiscal Consolidation in an Open Economy, CEPR Discussion Papers (2012) View citations (63) (2012)

2011

12. Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs
    NBER International Seminar on Macroeconomics, 2011, 7, (1), 95 - 136 View citations (9)
    See also Chapter Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs, NBER Chapters, 2010, 95-135 (2010) View citations (24) (2010)
    Working Paper Asymmetric shocks in a currency union with monetary and fiscal handcuffs?, International Finance Discussion Papers (2010) View citations (19) (2010)
13. Did Easy Money in the Dollar Bloc Fuel the Oil Price Run-Up?
    International Journal of Central Banking, 2011, 7, (1), 131-160 View citations (12)
14. Oil shocks and external adjustment
    Journal of International Economics, 2011, 83, (2), 168-184 View citations (238)
    See also Working Paper Oil Shocks and External Adjustment, 2008 Meeting Papers (2008) View citations (3) (2008)

2008

15. Optimal monetary policy with distinct core and headline inflation rates
    Journal of Monetary Economics, 2008, 55, (Supplement 1), S18-S33 View citations (109)
    See also Working Paper Optimal monetary policy with distinct core and headline inflation rates, International Finance Discussion Papers (2008) View citations (117) (2008)
16. Trade adjustment and the composition of trade
    Journal of Economic Dynamics and Control, 2008, 32, (8), 2622-2650 View citations (55)
    Also in Proceedings, 2005 (2005)
    See also Working Paper Trade Adjustment and the Composition of Trade, 2006 Meeting Papers (2006) View citations (14) (2006)

2007

17. Three great American disinflations
    Proceedings, 2007 View citations (12)
    See also Working Paper Three Great American Disinflations, NBER Working Papers (2007) View citations (15) (2007)

2006

18. Optimal monetary policy with durable consumption goods
    Journal of Monetary Economics, 2006, 53, (7), 1341-1359 View citations (198)
19. SIGMA: A New Open Economy Model for Policy Analysis
    International Journal of Central Banking, 2006, 2, (1) View citations (346)
    See also Working Paper SIGMA: A New Open Economy Model for Policy Analysis, MPRA Paper (2006) View citations (319) (2006)

2005

20. Can Long-Run Restrictions Identify Technology Shocks?
    Journal of the European Economic Association, 2005, 3, (6), 1237-1278 View citations (159)
    See also Working Paper Can Long-Run Restrictions Identify Technology Shocks?, Computing in Economics and Finance 2004 (2004) View citations (48) (2004)
21. Expansionary Fiscal Shocks and the US Trade Deficit
    International Finance, 2005, 8, (3), 363-397 View citations (109)
    See also Working Paper Expansionary Fiscal Shocks and the Trade Deficit, Computing in Economics and Finance 2005 (2005) View citations (137) (2005)

2003

22. Comment on: Monetary rules for small, open, emerging economies
    Journal of Monetary Economics, 2003, 50, (5), 1147-1152 View citations (1)
23. Imperfect credibility and inflation persistence
    Journal of Monetary Economics, 2003, 50, (4), 915-944 View citations (365)
    See also Working Paper Imperfect Credibility and Inflation Persistence, Computing in Economics and Finance 2001 (2001) View citations (81) (2001)

2002

24. The Choice of an Inflation Target Range in a Small Open Economy
    American Economic Review, 2002, 92, (2), 85-89 View citations (22)

2000

25. Money, Sticky Wages, and the Great Depression
    American Economic Review, 2000, 90, (5), 1447-1463 View citations (108)
    See also Working Paper Money, Sticky Wages, and the Great Depression, NBER Working Papers (1997) View citations (24) (1997)
26. Optimal monetary policy with staggered wage and price contracts
    Journal of Monetary Economics, 2000, 46, (2), 281-313 View citations (2036)
    See also Working Paper Optimal Monetary Policy with Staggered Wage and Price Contracts, Computing in Economics and Finance 1999 (1999) View citations (97) (1999)

1989

27. Competitive pricing behavior in the U.S. steel industry
    Economic Perspectives, 1989, 13, (Mar), 16-26

Chapters

2016

1. Jump-Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
   A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016, pp 103-182 View citations (57)
   See also Journal Article Jump-Starting the Euro-Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?, University of Chicago Press (2017) View citations (47) (2017)
   Working Paper Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?, National Bureau of Economic Research, Inc (2015) View citations (37) (2015)

2010

2. Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs
   A chapter in NBER International Seminar on Macroeconomics 2010, 2010, pp 95-135 View citations (24)
   See also Working Paper Asymmetric shocks in a currency union with monetary and fiscal handcuffs?, Board of Governors of the Federal Reserve System (U.S.) (2010) View citations (19) (2010)
   Journal Article Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs, University of Chicago Press (2011) View citations (9) (2011)

2007

3. The Transmission of Domestic Shocks in Open Economies
   A chapter in International Dimensions of Monetary Policy, 2007, pp 89-148 View citations (24)
   See also Working Paper The Transmission of Domestic Shocks in Open Economies, C.E.P.R. Discussion Papers (2007) View citations (25) (2007)