Details about Roger E. A. Farmer

Homepage:	http://rogerfarmer.com
Phone:	(310) 825-6547
Postal address:	UCLA Department of Economics 8283 Bunche Hall Box 951477 Los Angeles, CA 90095-1477 U.S.A.
Workplace:	Department of Economics, University of Warwick, (more information at EDIRC) Department of Economics, University of California-Los Angeles (UCLA), (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC) Centre for Economic Policy Research (CEPR), (more information at EDIRC)

Access statistics for papers by Roger E. A. Farmer.

Last updated 2024-11-06. Update your information in the RePEc Author Service.

Short-id: pfa3

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Working Papers

2024

1. Money in a Heterogeneous Agent Model
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)

2022

2. Monetary and Fiscal Policy when People have Finite Lives
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (4)
3. Self-Fulfilling Prophecies, Quasi Non-Ergodicity & Wealth Inequality
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (3)
4. Self-Fulfilling Prophecies, Quasi Non-Ergodicity and Wealth Inequality
   Papers, arXiv.org View citations (1)
   See also Journal Article Self-Fulfilling Prophecies, Quasi Nonergodicity, and Wealth Inequality, Journal of Political Economy, University of Chicago Press (2023) View citations (1) (2023)
5. Zoomers and Boomers: Asset Prices and Intergenerational Inequality
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022)

2019

6. A Requiem for the Fiscal Theory of the Price Level
   IMF Working Papers, International Monetary Fund View citations (9)
7. Some International Evidence for Keynesian Economics Without the Phillips Curve
   National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research View citations (7)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (10)
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2019) View citations (6)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (9)
   See also Journal Article Some International Evidence for Keynesian Economics Without the Phillips Curve, Manchester School, University of Manchester (2021) View citations (2) (2021)
8. The Fiscal Theory of the Price Level in Overlapping Generations Models
   National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research View citations (6)
   Also in 2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (6)
9. The Importance of Beliefs in Shaping Macroeconomic Outcomes
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (4)
   See also Journal Article The importance of beliefs in shaping macroeconomic outcomes, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2020) View citations (6) (2020)
10. The Indeterminacy Agenda in Macroeconomics
    National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research View citations (14)
11. The Indeterminacy School in Macroeconomics
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019)

2018

12. Pricing Assets in a Perpetual Youth Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research (2018) View citations (15)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (15)
    See also Journal Article Pricing Assets in a Perpetual Youth Model, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2018) View citations (15) (2018)
13. The Household Fallacy
    National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (1)
    See also Journal Article The household fallacy, Economics Letters, Elsevier (2018) View citations (4) (2018)
14. The Role of Financial Policy
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in National Institute of Economic and Social Research (NIESR) Discussion Papers, National Institute of Economic and Social Research (2018)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018)
    See also Journal Article The role of financial policy, Review of Keynesian Economics, Edward Elgar Publishing (2018) (2018)

2017

15. Coordinating Monetary, Fiscal and Financial Policy – A Submission to the Treasury Committee of the UK Parliament
    National Institute of Economic and Social Research (NIESR) Policy Papers, National Institute of Economic and Social Research
16. Keynesian Economics without the Phillips Curve
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (2)
    See also Journal Article Keynesian economics without the Phillips curve, Journal of Economic Dynamics and Control, Elsevier (2018) View citations (41) (2018)
17. Post Keynesian Dynamic Stochastic General Equilibrium Theory
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (11)
    See also Journal Article Post-Keynesian dynamic stochastic general equilibrium theory, European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing (2017) View citations (11) (2017)
18. The End of Alchemy: A Review Essay
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017)

2016

19. Animal Spirits in a Monetary Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (12)
    See also Journal Article Animal spirits in a monetary model, European Economic Review, Elsevier (2019) View citations (17) (2019)
20. Pricing Assets in an Economy with Two Types of People
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (2)
21. The Theory of Unconventional Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
    Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2016) View citations (29)
    Bank of England working papers, Bank of England (2016) View citations (26)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (26)
    Discussion Papers, Centre for Macroeconomics (CFM) (2016) View citations (26)

2015

22. Global Sunspots and Asset Prices in a Monetary Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (6)

2014

23. Asset Prices in a Lifecycle Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (8)
24. The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in the Real World
    2014 Meeting Papers, Society for Economic Dynamics
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (21)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (12)
    Working Papers, HAL (2013) View citations (6)
    AMSE Working Papers, Aix-Marseille School of Economics, France (2013) View citations (6)

2013

25. Solving and Estimating Indeterminate DSGE Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (7)
    IMF Working Papers, International Monetary Fund (2013) View citations (18)
    See also Journal Article Solving and estimating indeterminate DSGE models, Journal of Economic Dynamics and Control, Elsevier (2015) View citations (107) (2015)
26. The Natural Rate Hypothesis: An idea past its sell-by date
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (20)
    See also Journal Article The Natural Rate Hypothesis: an idea past its sell-by date, Bank of England Quarterly Bulletin, Bank of England (2013) View citations (19) (2013)
27. The Stock Market Crash Really Did Cause the Great Recession
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (4)
    See also Journal Article The Stock Market Crash Really Did Cause the Great Recession, Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford (2015) View citations (30) (2015)

2012

28. Does Fiscal Policy Matter? Blinder and Solow Revisited
    2012 Meeting Papers, Society for Economic Dynamics View citations (18)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (5)
    See also Journal Article DOES FISCAL POLICY MATTER? BLINDER AND SOLOW REVISITED, Macroeconomic Dynamics, Cambridge University Press (2012) View citations (17) (2012)
29. Qualitative Easing: How it Works and Why it Matters
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (17)
30. The Effect of Conventional and Unconventional Monetary Policy Rules on Inflation Expectations: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (15)
    See also Journal Article The effect of conventional and unconventional monetary policy rules on inflation expectations: theory and evidence, Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited (2012) View citations (15) (2012)
31. The Evolution of Endogenous Business Cycles
    Working Papers, Hong Kong Institute for Monetary Research View citations (6)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (7)
    NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (6)
    See also Journal Article THE EVOLUTION OF ENDOGENOUS BUSINESS CYCLES, Macroeconomic Dynamics, Cambridge University Press (2016) View citations (31) (2016)
32. The Stock Market Crash of 2008 Caused the Great Recession
    2012 Meeting Papers, Society for Economic Dynamics View citations (64)

2011

33. Animal Spirits, Financial Crises and Persistent Unemployment
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (3)
34. Confidence Crashes and Animal Spirits
    2011 Meeting Papers, Society for Economic Dynamics View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (11)
    See also Journal Article Confidence, Crashes and Animal Spirits, Economic Journal, Royal Economic Society (2012) View citations (66) (2012)
35. The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (12)
    See also Journal Article The stock market crash of 2008 caused the Great Recession: Theory and evidence, Journal of Economic Dynamics and Control, Elsevier (2012) View citations (57) (2012)

2010

36. Animal Spirits, Persistent Unemployment and the Belief Function
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (18)

2009

37. Debt, Deficits and Finite Horizons: The Stochastic Case
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Working Papers, HAL (2009) View citations (4)
    See also Journal Article Debt, deficits and finite horizons: The stochastic case, Economics Letters, Elsevier (2011) View citations (19) (2011)
38. Fiscal Policy Can Reduce Unemployment: But There is a Better Alternative
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
39. Fiscal Policy Can Reduce Unemployment: But There is a Less Costly and More Effective Alternative
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
40. Understanding Markov-Switching Rational Expectations Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (155)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2009) View citations (146)
    See also Journal Article Understanding Markov-switching rational expectations models, Journal of Economic Theory, Elsevier (2009) View citations (157) (2009)

2008

41. Generalizing the Taylor principle: comment
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (3)
    See also Journal Article Generalizing the Taylor Principle: Comment, American Economic Review, American Economic Association (2010) View citations (41) (2010)
42. Minimal state variable solutions to Markov-switching rational expectations models
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (62)
    See also Journal Article Minimal state variable solutions to Markov-switching rational expectations models, Journal of Economic Dynamics and Control, Elsevier (2011) View citations (130) (2011)
43. Unemployment in a DSGE Model: Theory and Evidence
    2008 Meeting Papers, Society for Economic Dynamics

2007

44. Aggregate Demand and Supply
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article Aggregate demand and supply, International Journal of Economic Theory, The International Society for Economic Theory (2008) View citations (30) (2008)
45. Factor Analysis in a Model with Rational Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article Factor analysis in a model with rational expectations, Econometrics Journal, Royal Economic Society (2008) View citations (12) (2008)
46. Indeterminacy in a forward-looking regime-switching model
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (12)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (17)
    See also Journal Article Indeterminacy in a forward‐looking regime switching model, International Journal of Economic Theory, The International Society for Economic Theory (2009) View citations (27) (2009)
47. Understanding the New Keynesian model when monetary policy switches regimes
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (20)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (18)

2006

48. A method to generate structural impulse-responses for measuring the effects of shocks in structural macro models
    Working Paper Series, European Central Bank View citations (5)
49. Assessing Changes in U.S. Monetary Policy in a Regime-Switching Rational Expectations Model
    2006 Meeting Papers, Society for Economic Dynamics
50. Identification Problems in SDGE Models with an illustration to a small Macro model
    Computing in Economics and Finance 2006, Society for Computational Economics View citations (4)
51. Shooting the Auctioneer
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    Also in 2005 Meeting Papers, Society for Economic Dynamics (2005) View citations (9)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (10)

2005

52. Factor Analysis in a New-Keynesian Model
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    Also in Working Paper Series, European Central Bank (2005) View citations (14)
53. Measuring the Effects of Real and Monetary Shocks in a Structural New-Keynesian Model
    Computing in Economics and Finance 2005, Society for Computational Economics

2004

54. On the Indeterminacy of New Keynesian Economics
    2004 Meeting Papers, Society for Economic Dynamics View citations (58)
    Also in Working Paper Series, European Central Bank (2004) View citations (63)
    Computing in Economics and Finance 2004, Society for Computational Economics (2004) View citations (60)
55. What We Don't Know About the Monetary Transmission Mechanism and Why We Don't Know It
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    See also Journal Article WHAT WE DON'T KNOW ABOUT THE MONETARY TRANSMISSION MECHANISM AND WHY WE DON'T KNOW IT, Macroeconomic Dynamics, Cambridge University Press (2008) View citations (13) (2008)

2003

56. Identifying the Monetary Transmission Mechanism Using Structural Breaks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
    Also in Working Paper Series, European Central Bank (2003) View citations (17)
57. On the Indeterminacy of Determinacy and Indeterminacy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
    Also in Working Paper Series, European Central Bank (2003) View citations (15)
58. Recursive Preferences and Balanced Growth
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    See also Journal Article Recursive preferences and balanced growth, Journal of Economic Theory, Elsevier (2005) View citations (13) (2005)

2002

59. A Two-Country Model of Endogenous Growth
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    See also Journal Article A Two-Country Model of Endogenous Growth, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2005) View citations (20) (2005)
60. Business Cycles With Heterogenous Agents
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
61. Economic Growth in an Interdependent World Economy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    See also Journal Article Economic Growth in an Interdependent World Economy, Economic Journal, Royal Economic Society (2006) View citations (9) (2006)
62. Natural rate doubts
    Working Paper Series, European Central Bank View citations (15)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2000) View citations (3)
    See also Journal Article Natural rate doubts, Journal of Economic Dynamics and Control, Elsevier (2007) View citations (64) (2007)

1999

63. Indeterminacy with Non-Separable Utility
    Economics Working Papers, European University Institute View citations (10)
    See also Journal Article Indeterminacy with Non-separable Utility, Journal of Economic Theory, Elsevier (2000) View citations (83) (2000)
64. The Monetary Transmission Mechanism
    Economics Working Papers, European University Institute View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (2)
    Working Papers, C.V. Starr Center for Applied Economics, New York University (1996) View citations (4)
    Levine's Working Paper Archive, David K. Levine (1998) View citations (4)
    See also Journal Article The Monetary Transmission Mechanism, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2000) View citations (47) (2000)
65. Two New Keynesian Theories of Sticky Prices
    Economics Working Papers, European University Institute View citations (2)
    See also Journal Article TWO NEW KEYNESIAN THEORIES OF STICKY PRICES, Macroeconomic Dynamics, Cambridge University Press (2000) View citations (17) (2000)

1997

66. Money in a Real Business Cycle Model
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (44)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1996) View citations (1)
    See also Journal Article Money in a Real Business Cycle Model, Journal of Money, Credit and Banking, Blackwell Publishing (1997) View citations (44) (1997)

1996

67. Indeterminacy and Sector-Specific Externalities
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (223)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (1994) View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (230)
    Working Papers, C.V. Starr Center for Applied Economics, New York University (1995) View citations (14)
    See also Journal Article Indeterminacy and sector-specific externalities, Journal of Monetary Economics, Elsevier (1996) View citations (230) (1996)

1994

68. The Econometrics of Indeterminacy: An Applied Study
    UCLA Economics Working Papers, UCLA Department of Economics View citations (22)
    See also Journal Article The econometrics of indeterminacy: an applied study, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1995) View citations (57) (1995)

1992

69. Indeterminacy and Increasing Returns
    UCLA Economics Working Papers, UCLA Department of Economics View citations (10)
    Also in Working Papers, Cambridge - Risk, Information & Quantity Signals (1991) View citations (5)
    Working Papers, C.V. Starr Center for Applied Economics, New York University (1991) View citations (21)
    See also Journal Article Indeterminacy and Increasing Returns, Journal of Economic Theory, Elsevier (1994) View citations (766) (1994)
70. Real Business Cycles and the Animal Spirits Hypothesis
    UCLA Economics Working Papers, UCLA Department of Economics View citations (58)
    See also Journal Article Real Business Cycles and the Animal Spirits Hypothesis, Journal of Economic Theory, Elsevier (1994) View citations (431) (1994)

1991

71. The Aggregate Effects of Monetary Externalities
    UCLA Economics Working Papers, UCLA Department of Economics View citations (5)
    Also in Working Papers, C.V. Starr Center for Applied Economics, New York University (1991) View citations (4)
    Working Papers, Cambridge - Risk, Information & Quantity Signals (1991) View citations (4)

1990

72. Dynasty: A Simple Stochastic Growth Model
    UCLA Economics Working Papers, UCLA Department of Economics View citations (1)
73. Sticky Prices
    UCLA Economics Working Papers, UCLA Department of Economics View citations (6)
    See also Journal Article Sticky Prices, Economic Journal, Royal Economic Society (1991) View citations (14) (1991)

1989

74. A.I.L. Theory and the Ailing PHillips Curve: A Contract Based Approach to Aggregate Supply
    UCLA Economics Working Papers, UCLA Department of Economics View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1989) View citations (4)
    See also Chapter AIL Theory and the Ailing Phillips Curve: A Contract-Based Approach to Aggregate Supply, NBER Chapters, National Bureau of Economic Research, Inc (1990) (1990)
    Journal Article AIL theory and the ailing Phillips curve: a contract based approach to aggregate supply, Proceedings, Federal Reserve Bank of San Francisco (1989) View citations (4) (1989)
75. Rince Preferences
    UCLA Economics Working Papers, UCLA Department of Economics View citations (1)
    See also Journal Article RINCE Preferences, The Quarterly Journal of Economics, President and Fellows of Harvard College (1990) View citations (40) (1990)
76. The Lucas Critique Policy Invariance and Multiple Equilibria
    UCLA Economics Working Papers, UCLA Department of Economics View citations (1)
    See also Journal Article The Lucas Critique, Policy Invariance and Multiple Equilibria, The Review of Economic Studies, Review of Economic Studies Ltd (1991) View citations (20) (1991)

1987

77. Closed-Form Solutions to Dynamic Stochastic Choice Problems
    The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics View citations (2)
    Also in Economic Research Papers, University of Warwick - Department of Economics (1987) View citations (2)

Journal Articles

2023

1. Self-Fulfilling Prophecies, Quasi Nonergodicity, and Wealth Inequality
   Journal of Political Economy, 2023, 131, (4), 947 - 993 View citations (1)
   See also Working Paper Self-Fulfilling Prophecies, Quasi Non-Ergodicity and Wealth Inequality, Papers (2022) View citations (1) (2022)

2022

2. A SUNSPOT-BASED THEORY OF UNCONVENTIONAL MONETARY POLICY
   Macroeconomic Dynamics, 2022, 26, (1), 186-217

2021

3. Some International Evidence for Keynesian Economics Without the Phillips Curve
   Manchester School, 2021, 89, (S1), 1-22 View citations (2)
   See also Working Paper Some International Evidence for Keynesian Economics Without the Phillips Curve, National Institute of Economic and Social Research (NIESR) Discussion Papers (2019) View citations (7) (2019)

2020

4. The importance of beliefs in shaping macroeconomic outcomes
   Oxford Review of Economic Policy, 2020, 36, (3), 675-711 View citations (6)
   See also Working Paper The Importance of Beliefs in Shaping Macroeconomic Outcomes, NBER Working Papers (2019) View citations (4) (2019)

2019

5. Animal spirits in a monetary model
   European Economic Review, 2019, 115, (C), 60-77 View citations (17)
   See also Working Paper Animal Spirits in a Monetary Model, NBER Working Papers (2016) View citations (20) (2016)

2018

6. Keynesian economics without the Phillips curve
   Journal of Economic Dynamics and Control, 2018, 89, (C), 137-150 View citations (41)
   See also Working Paper Keynesian Economics without the Phillips Curve, NBER Working Papers (2017) View citations (2) (2017)
7. Pricing Assets in a Perpetual Youth Model
   Review of Economic Dynamics, 2018, 30, 106-124 View citations (15)
   See also Software Item Code and data files for "Pricing Assets in a Perpetual Youth Model", Computer Codes (2018) (2018)
   Working Paper Pricing Assets in a Perpetual Youth Model, NBER Working Papers (2018) View citations (15) (2018)
8. The End of Alchemy by Mervyn King: A Review Essay
   Journal of Economic Literature, 2018, 56, (3), 1102-18
9. The household fallacy
   Economics Letters, 2018, 169, (C), 83-86 View citations (4)
   See also Working Paper The Household Fallacy, National Institute of Economic and Social Research (NIESR) Discussion Papers (2018) View citations (1) (2018)
10. The role of financial policy
    Review of Keynesian Economics, 2018, 6, (4), 446-460
    See also Working Paper The Role of Financial Policy, NBER Working Papers (2018) (2018)

2017

11. Post-Keynesian dynamic stochastic general equilibrium theory
    European Journal of Economics and Economic Policies: Intervention, 2017, 14, (2), 173-185 View citations (11)
    See also Working Paper Post Keynesian Dynamic Stochastic General Equilibrium Theory, CEPR Discussion Papers (2017) View citations (11) (2017)
12. Unwinding: A Tale of Corridors and Floors
    National Institute Economic Review, 2017, 241, R70-R73
    Also in National Institute Economic Review, 2017, 241, (1), R70-R73 (2017)

2016

13. THE EVOLUTION OF ENDOGENOUS BUSINESS CYCLES
    Macroeconomic Dynamics, 2016, 20, (2), 544-557 View citations (31)
    See also Working Paper The Evolution of Endogenous Business Cycles, Working Papers (2012) View citations (6) (2012)

2015

14. Solving and estimating indeterminate DSGE models
    Journal of Economic Dynamics and Control, 2015, 54, (C), 17-36 View citations (107)
    See also Working Paper Solving and Estimating Indeterminate DSGE Models, NBER Working Papers (2013) View citations (13) (2013)
15. The Stock Market Crash Really Did Cause the Great Recession
    Oxford Bulletin of Economics and Statistics, 2015, 77, (5), 617-633 View citations (30)
    See also Working Paper The Stock Market Crash Really Did Cause the Great Recession, CEPR Discussion Papers (2013) (2013)

2014

16. Financial Stability and the Role of the Financial Policy Committee
    Manchester School, 2014, 82, (S1), 35-43

2013

17. Animal Spirits, Financial Crises and Persistent Unemployment-super-
    Economic Journal, 2013, 317-340 View citations (66)
18. The Natural Rate Hypothesis: an idea past its sell-by date
    Bank of England Quarterly Bulletin, 2013, 53, (3), 244-256 View citations (19)
    See also Working Paper The Natural Rate Hypothesis: An idea past its sell-by date, NBER Working Papers (2013) View citations (21) (2013)

2012

19. Confidence, Crashes and Animal Spirits
    Economic Journal, 2012, 122, (559), 155-172 View citations (66)
    See also Working Paper Confidence Crashes and Animal Spirits, 2011 Meeting Papers (2011) View citations (1) (2011)
20. DOES FISCAL POLICY MATTER? BLINDER AND SOLOW REVISITED
    Macroeconomic Dynamics, 2012, 16, (S1), 149-166 View citations (17)
    See also Working Paper Does Fiscal Policy Matter? Blinder and Solow Revisited, 2012 Meeting Papers (2012) View citations (18) (2012)
21. The effect of conventional and unconventional monetary policy rules on inflation expectations: theory and evidence
    Oxford Review of Economic Policy, 2012, 28, (4), 622-639 View citations (15)
    See also Working Paper The Effect of Conventional and Unconventional Monetary Policy Rules on Inflation Expectations: Theory and Evidence, NBER Working Papers (2012) View citations (15) (2012)
22. The stock market crash of 2008 caused the Great Recession: Theory and evidence
    Journal of Economic Dynamics and Control, 2012, 36, (5), 693-707 View citations (57)
    See also Working Paper The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence, NBER Working Papers (2011) View citations (7) (2011)

2011

23. Debt, deficits and finite horizons: The stochastic case
    Economics Letters, 2011, 111, (1), 47-49 View citations (19)
    See also Working Paper Debt, Deficits and Finite Horizons: The Stochastic Case, NBER Working Papers (2009) View citations (2) (2009)
24. Minimal state variable solutions to Markov-switching rational expectations models
    Journal of Economic Dynamics and Control, 2011, 35, (12), 2150-2166 View citations (130)
    See also Working Paper Minimal state variable solutions to Markov-switching rational expectations models, FRB Atlanta Working Paper (2008) View citations (62) (2008)

2010

25. Generalizing the Taylor Principle: Comment
    American Economic Review, 2010, 100, (1), 608-17 View citations (41)
    See also Working Paper Generalizing the Taylor principle: comment, FRB Atlanta Working Paper (2008) View citations (3) (2008)
26. How to reduce unemployment: A new policy proposal
    Journal of Monetary Economics, 2010, 57, (5), 557-572 View citations (23)
27. MACROECONOMICS FOR THE 21ST CENTURY: FULL EMPLOYMENT AS A POLICY GOAL
    National Institute Economic Review, 2010, 211, (1), 109-114
    Also in National Institute Economic Review, 2010, 211, R45-R50 (2010)

2009

28. Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism
    The Economic Record, 2009, 85, (270), 357-358 View citations (35)
29. Indeterminacy in a forward‐looking regime switching model
    International Journal of Economic Theory, 2009, 5, (1), 69-84 View citations (27)
    See also Working Paper Indeterminacy in a forward-looking regime-switching model, FRB Atlanta Working Paper (2007) View citations (5) (2007)
30. Introduction
    International Journal of Economic Theory, 2009, 5, (1), 1-7
31. Understanding Markov-switching rational expectations models
    Journal of Economic Theory, 2009, 144, (5), 1849-1867 View citations (157)
    See also Working Paper Understanding Markov-Switching Rational Expectations Models, NBER Working Papers (2009) View citations (155) (2009)

2008

32. Aggregate demand and supply
    International Journal of Economic Theory, 2008, 4, (1), 77-93 View citations (30)
    See also Working Paper Aggregate Demand and Supply, NBER Working Papers (2007) View citations (6) (2007)
33. Factor analysis in a model with rational expectations
    Econometrics Journal, 2008, 11, (2), 271-286 View citations (12)
    See also Working Paper Factor Analysis in a Model with Rational Expectations, NBER Working Papers (2007) View citations (6) (2007)
34. WHAT WE DON'T KNOW ABOUT THE MONETARY TRANSMISSION MECHANISM AND WHY WE DON'T KNOW IT
    Macroeconomic Dynamics, 2008, 12, (S1), 60-74 View citations (13)
    See also Working Paper What We Don't Know About the Monetary Transmission Mechanism and Why We Don't Know It, CEPR Discussion Papers (2004) View citations (1) (2004)

2007

35. Natural rate doubts
    Journal of Economic Dynamics and Control, 2007, 31, (3), 797-825 View citations (64)
    See also Working Paper Natural rate doubts, Working Paper Series (2002) View citations (15) (2002)
36. Testing for Indeterminacy: An Application to U.S. Monetary Policy: Comment
    American Economic Review, 2007, 97, (1), 524-529 View citations (56)

2006

37. Economic Growth in an Interdependent World Economy
    Economic Journal, 2006, 116, (514), 969-990 View citations (9)
    See also Working Paper Economic Growth in an Interdependent World Economy, CEPR Discussion Papers (2002) View citations (2) (2002)

2005

38. A Two-Country Model of Endogenous Growth
    Review of Economic Dynamics, 2005, 8, (1), 68-88 View citations (20)
    See also Working Paper A Two-Country Model of Endogenous Growth, CEPR Discussion Papers (2002) View citations (1) (2002)
39. Recursive preferences and balanced growth
    Journal of Economic Theory, 2005, 125, (1), 61-77 View citations (13)
    See also Working Paper Recursive Preferences and Balanced Growth, CEPR Discussion Papers (2003) (2003)

2003

40. Arnold, L. G.: Business Cycle Theory
    Journal of Economics, 2003, 80, (3), 278-280

2002

41. Why Does Data Reject the Lucas Critique
    Annals of Economics and Statistics, 2002, (67-68), 111-129 View citations (37)

2000

42. Analyzing Indeterminacies in a Real Business Cycle Model with Money: A Reply
    Journal of Money, Credit and Banking, 2000, 32, (2), 292-93 View citations (1)
43. Indeterminacy with Non-separable Utility
    Journal of Economic Theory, 2000, 93, (1), 118-143 View citations (83)
    See also Working Paper Indeterminacy with Non-Separable Utility, Economics Working Papers (1999) View citations (10) (1999)
44. TWO NEW KEYNESIAN THEORIES OF STICKY PRICES
    Macroeconomic Dynamics, 2000, 4, (1), 74-107 View citations (17)
    See also Working Paper Two New Keynesian Theories of Sticky Prices, Economics Working Papers (1999) View citations (2) (1999)
45. The Monetary Transmission Mechanism
    Review of Economic Dynamics, 2000, 3, (3), 523-550 View citations (47)
    See also Working Paper The Monetary Transmission Mechanism, Economics Working Papers (1999) View citations (2) (1999)

1997

46. Money in a Real Business Cycle Model
    Journal of Money, Credit and Banking, 1997, 29, (4), 568-611 View citations (44)
    Also in Proceedings, 1997, (Nov), 568-623 (1997) View citations (42)
    See also Working Paper Money in a Real Business Cycle Model, CEPR Discussion Papers (1997) View citations (44) (1997)
47. SELF-FULFILLING PROPHECIES AND THE BUSINESS CYCLE
    Macroeconomic Dynamics, 1997, 1, (4), 740-769 View citations (66)

1996

48. A theory of business cycles
    Finnish Economic Papers, 1996, 9, (2), 91-109 View citations (2)
49. Indeterminacy and sector-specific externalities
    Journal of Monetary Economics, 1996, 37, (3), 421-443 View citations (230)
    See also Working Paper Indeterminacy and Sector-Specific Externalities, Working Papers (1996) View citations (223) (1996)

1995

50. The econometrics of indeterminacy: an applied study
    Carnegie-Rochester Conference Series on Public Policy, 1995, 43, (1), 225-271 View citations (57)
    See also Working Paper The Econometrics of Indeterminacy: An Applied Study, UCLA Economics Working Papers (1994) View citations (22) (1994)

1994

51. Indeterminacy and Increasing Returns
    Journal of Economic Theory, 1994, 63, (1), 19-41 View citations (766)
    See also Working Paper Indeterminacy and Increasing Returns, UCLA Economics Working Papers (1992) View citations (10) (1992)
52. Real Business Cycles and the Animal Spirits Hypothesis
    Journal of Economic Theory, 1994, 63, (1), 42-72 View citations (431)
    See also Working Paper Real Business Cycles and the Animal Spirits Hypothesis, UCLA Economics Working Papers (1992) View citations (58) (1992)

1992

53. Nominal price stickiness as a rational expectations equilibrium
    Journal of Economic Dynamics and Control, 1992, 16, (2), 317-337 View citations (10)

1991

54. Sticky Prices
    Economic Journal, 1991, 101, (409), 1369-79 View citations (14)
    See also Working Paper Sticky Prices, UCLA Economics Working Papers (1990) View citations (6) (1990)
55. The Lucas Critique, Policy Invariance and Multiple Equilibria
    The Review of Economic Studies, 1991, 58, (2), 321-332 View citations (20)
    See also Working Paper The Lucas Critique Policy Invariance and Multiple Equilibria, UCLA Economics Working Papers (1989) View citations (1) (1989)

1990

56. RINCE Preferences
    The Quarterly Journal of Economics, 1990, 105, (1), 43-60 View citations (40)
    See also Working Paper Rince Preferences, UCLA Economics Working Papers (1989) View citations (1) (1989)

1989

57. AIL theory and the ailing Phillips curve: a contract based approach to aggregate supply
    Proceedings, 1989 View citations (4)
    See also Working Paper A.I.L. Theory and the Ailing PHillips Curve: A Contract Based Approach to Aggregate Supply, UCLA Economics Working Papers (1989) View citations (3) (1989)
    Chapter AIL Theory and the Ailing Phillips Curve: A Contract-Based Approach to Aggregate Supply, NBER Chapters, 1990, 207-230 (1990) (1990)

1988

58. Money and Contracts
    The Review of Economic Studies, 1988, 55, (3), 431-446 View citations (14)
59. What is a liquidity crisis?
    Journal of Economic Theory, 1988, 46, (1), 1-15 View citations (12)

1986

60. Deficits and cycles
    Journal of Economic Theory, 1986, 40, (1), 77-88 View citations (67)
61. The Role of Options in the Resolution of Agency Problems: A Comment [Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure]
    Journal of Finance, 1986, 41, (5), 1157-70

1985

62. Implicit Contracts with Asymmetric Information and Bankruptcy: The Effect of Interest Rates on Layoffs
    The Review of Economic Studies, 1985, 52, (3), 427-442 View citations (44)

1984

63. A New Theory of Aggregate Supply
    American Economic Review, 1984, 74, (5), 920-30 View citations (33)
64. Bursting bubbles: On the rationality of hyperinflations in optimizing models
    Journal of Monetary Economics, 1984, 14, (1), 29-35 View citations (1)
65. Unemployment, Bankruptcy and Asymmetric Information
    The Manchester School of Economic & Social Studies, 1984, 52, (3), 284-91

Books

2016

1. Prosperity for All: How to Prevent Financial Crises
   OUP Catalogue, Oxford University Press View citations (22)

2014

2. How the Economy Works: Confidence, Crashes and Self-Fulfilling Prophecies
   OUP Catalogue, Oxford University Press View citations (1)
   Also in OUP Catalogue, Oxford University Press (2010) View citations (35)

2010

3. Expectations, Employment and Prices
   OUP Catalogue, Oxford University Press View citations (42)

1999

4. Macroeconomics of Self-fulfilling Prophecies, 2nd Edition, vol 1
   MIT Press Books, The MIT Press View citations (131)

Edited books

2008

1. Macroeconomics in the Small and the Large
   Books, Edward Elgar Publishing View citations (43)

Chapters

2008

1. Old-Keynesian Economics
   Chapter 2 in Macroeconomics in the Small and the Large, 2008 View citations (4)

1999

2. Indeterminacy and sunspots in macroeconomics
   Chapter 06 in Handbook of Macroeconomics, 1999, vol. 1, Part A, pp 387-448 View citations (459)

1990

3. AIL Theory and the Ailing Phillips Curve: A Contract-Based Approach to Aggregate Supply
   A chapter in Asymmetric Information, Corporate Finance, and Investment, 1990, pp 207-230
   See also Working Paper A.I.L. Theory and the Ailing PHillips Curve: A Contract Based Approach to Aggregate Supply, UCLA Department of Economics (1989) View citations (3) (1989)
   Journal Article AIL theory and the ailing Phillips curve: a contract based approach to aggregate supply, Federal Reserve Bank of San Francisco (1989) View citations (4) (1989)

Software Items

2018

1. Code and data files for "Pricing Assets in a Perpetual Youth Model"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Pricing Assets in a Perpetual Youth Model, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2018) View citations (15) (2018)