Details about Patrick J. Kehoe

Homepage:	http://www.econ.umn.edu/~kehoe/
Workplace:	Department of Economics, Stanford University, (more information at EDIRC) Federal Reserve Bank of Minneapolis, (more information at EDIRC)

Access statistics for papers by Patrick J. Kehoe.

Last updated 2024-09-05. Update your information in the RePEc Author Service.

Short-id: pke4

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Working Papers

2025

1. A Neoclassical Model of the World Financial Cycle
   Working Papers, Federal Reserve Bank of Cleveland
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2025)
2. The Macroeconomic Dynamics of Labor Market Policies
   NBER Working Papers, National Bureau of Economic Research, Inc

2024

3. Is a fiscal union optimal for a monetary union?
   Post-Print, HAL
   See also Journal Article Is a fiscal union optimal for a monetary union?, Journal of Monetary Economics, Elsevier (2024) (2024)

2023

4. Fiscal Federalism and Monetary Unions
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

2022

5. Asset Prices and Unemployment Fluctuations: A Resolution of the Unemployment Volatility Puzzle
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
   See also Journal Article Asset Prices and Unemployment Fluctuations: A Resolution of the Unemployment Volatility Puzzle*, The Review of Economic Studies, Review of Economic Studies Ltd (2023) View citations (2) (2023)
6. The Distributional Impact of the Minimum Wage in the Short and Long Run
   Staff Report, Federal Reserve Bank of Minneapolis View citations (2)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2022) View citations (10)

2020

7. Asset Prices and Unemployment Fluctuations
   Staff Report, Federal Reserve Bank of Minneapolis View citations (3)
   Also in 2018 Meeting Papers, Society for Economic Dynamics (2018) View citations (6)
   NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (11)
   Working Papers, Federal Reserve Bank of Cleveland (2020) View citations (3)
8. Credit Frictions in the Great Recession
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
   Also in Staff Report, Federal Reserve Bank of Minneapolis (2020) View citations (4)
   Discussion Papers, Centre for Macroeconomics (CFM) (2020) View citations (2)
9. On the Importance of Household versus Firm Credit Frictions in the Great Recession
   Working Papers, Federal Reserve Bank of Cleveland View citations (4)
   See also Journal Article On the Importance of Household versus Firm Credit Frictions in the Great Recession, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2020) View citations (6) (2020)

2019

10. The Monetary and Fiscal History of Brazil, 1960-2016
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2018)
    IDB Publications (Working Papers), Inter-American Development Bank (2019) View citations (6)
    Staff Report, Federal Reserve Bank of Minneapolis (2018) View citations (2)
    Discussion Papers, Centre for Macroeconomics (CFM) (2018)
11. World financial cycles
    2019 Meeting Papers, Society for Economic Dynamics View citations (8)

2018

12. Evolution of Modern Business Cycle Models: Accounting for the Great Recession
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2018) View citations (14)
    See also Journal Article Evolution of Modern Business Cycle Models: Accounting for the Great Recession, Journal of Economic Perspectives, American Economic Association (2018) View citations (18) (2018)

2017

13. Appendix for Financial Frictions and Fluctuations in Volatility
    Staff Report, Federal Reserve Bank of Minneapolis
14. Financial Markets and Fiscal Unions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
15. Fiscal Unions Redux
    Discussion Papers, Centre for Macroeconomics (CFM) View citations (4)
    Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2017) View citations (3)
    Staff Report, Federal Reserve Bank of Minneapolis (2017) View citations (3)
    See also Journal Article Fiscal unions redux, Economic Theory, Springer (2017) View citations (5) (2017)
16. On the Importance of Easing Consumer Credit Frictions
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (2)
17. Reforming the European Monetary Union
    Economic Policy Paper, Federal Reserve Bank of Minneapolis

2016

18. A Proposal to Eliminate the Distortions Caused by Bailouts
    Economic Policy Paper, Federal Reserve Bank of Minneapolis
19. Accounting for Business Cycles
    Staff Report, Federal Reserve Bank of Minneapolis View citations (40)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (59)
    See also Chapter Accounting for Business Cycles, Handbook of Macroeconomics, Elsevier (2016) View citations (67) (2016)
20. Debt Constraints and Employment
    Staff Report, Federal Reserve Bank of Minneapolis View citations (24)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (39)
    2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (8)
    See also Journal Article Debt Constraints and Employment, Journal of Political Economy, University of Chicago Press (2019) View citations (23) (2019)
21. Financial Frictions and Fluctuations in Volatility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (53)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2012) View citations (51)
    See also Journal Article Financial Frictions and Fluctuations in Volatility, Journal of Political Economy, University of Chicago Press (2019) View citations (158) (2019)
22. Financial Repression: Evidence and Theory
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (5)

2014

23. Credibility and the Maturity of Government Debt
    2014 Meeting Papers, Society for Economic Dynamics
24. Rethinking Optimal Currency Areas
    2014 Meeting Papers, Society for Economic Dynamics View citations (3)
    See also Journal Article Rethinking Optimal Currency Areas, Journal of Monetary Economics, Elsevier (2020) View citations (19) (2020)

2013

25. Bailouts, Time Inconsistency, and Optimal Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2013) View citations (14)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (6)

2012

26. The Puzzling Behavior of Real Exchange Rates
    2012 Meeting Papers, Society for Economic Dynamics

2011

27. Financial Markets and Fluctuations in Uncertainty
    2011 Meeting Papers, Society for Economic Dynamics View citations (49)

2010

28. Financial Crises and Fluctuations in Uncertainty
    2010 Meeting Papers, Society for Economic Dynamics
29. Prices are Sticky After All
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
    See also Journal Article Prices are sticky after all, Journal of Monetary Economics, Elsevier (2015) View citations (123) (2015)
30. Time Inconsistency and Free-Riding in a Monetary Union
    Levine's Working Paper Archive, David K. Levine View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (7)
    Staff Report, Federal Reserve Bank of Minneapolis (2008) View citations (51)
    See also Journal Article Time Inconsistency and Free-Riding in a Monetary Union, Journal of Money, Credit and Banking, Blackwell Publishing (2008) View citations (52) (2008)

2009

31. Confronting Models of Financial Frictions with the Data
    2009 Meeting Papers, Society for Economic Dynamics View citations (3)
32. Sophisticated Monetary Policies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2009) View citations (8)
    Working Papers, Federal Reserve Bank of Minneapolis (2008)
    See also Journal Article Sophisticated Monetary Policies, The Quarterly Journal of Economics, President and Fellows of Harvard College (2010) View citations (42) (2010)
33. The Puzzling Behavior of Sectoral Real Exchange Rates
    2009 Meeting Papers, Society for Economic Dynamics

2008

34. Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (207)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (40)
    See also Journal Article Are structural VARs with long-run restrictions useful in developing business cycle theory?, Journal of Monetary Economics, Elsevier (2008) View citations (212) (2008)
35. Facts and myths about the financial crisis of 2008
    Working Papers, Federal Reserve Bank of Minneapolis View citations (40)
36. New Keynesian Models: Not Yet Useful for Policy Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2008) View citations (28)
    Working Papers, Federal Reserve Bank of Minneapolis (2008) View citations (27)
    See also Journal Article New Keynesian Models: Not Yet Useful for Policy Analysis, American Economic Journal: Macroeconomics, American Economic Association (2009) View citations (312) (2009)
37. On the Need for a New Approach to Analyzing Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2008) View citations (26)
    Working Papers, Federal Reserve Bank of Minneapolis (2008) View citations (26)
    See also Chapter On the Need for a New Approach to Analyzing Monetary Policy, NBER Chapters, National Bureau of Economic Research, Inc (2009) View citations (29) (2009)
38. Temporary Price Changes and the Real Effects of Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2008) View citations (30)
    Working Papers, Federal Reserve Bank of Minneapolis (2008) View citations (33)
39. Time-varying risk, interest rates, and exchange rates in general equilibrium
    Staff Report, Federal Reserve Bank of Minneapolis View citations (21)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2005) View citations (5)
    See also Journal Article Time-Varying Risk, Interest Rates, and Exchange Rates in General Equilibrium, The Review of Economic Studies, Review of Economic Studies Ltd (2009) View citations (103) (2009)

2007

40. Comparing alternative representations and alternative methodologies in business cycle accounting
    Staff Report, Federal Reserve Bank of Minneapolis View citations (22)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2006)
41. If exchange rates are random walks then almost everything we say about monetary policy is wrong
    Working Papers, Federal Reserve Bank of Minneapolis View citations (18)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (17)
    See also Journal Article If exchange rates are random walks, then almost everything we say about monetary policy is wrong, Quarterly Review, Federal Reserve Bank of Minneapolis (2008) (2008)
42. On the Optimal Choice of a Monetary Policy Instrument
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (13)
43. Reply to Solow
    Working Papers, Federal Reserve Bank of Minneapolis
44. Sales and the real effects of monetary policy
    Working Papers, Federal Reserve Bank of Minneapolis View citations (29)
45. Sticky prices and sectoral real exchange rates
    Working Papers, Federal Reserve Bank of Minneapolis View citations (21)
46. The Heterogeneous State of Modern Macroeconomics: A Reply to Solow
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (2)

2006

47. Appendices: Business cycle accounting
    Staff Report, Federal Reserve Bank of Minneapolis View citations (16)
48. Business cycle accounting
    Staff Report, Federal Reserve Bank of Minneapolis View citations (29)
    Also in Levine's Bibliography, UCLA Department of Economics (2004) View citations (40)
    Working Papers, Federal Reserve Bank of Minneapolis (2002) View citations (42)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (84)
    Levine's Bibliography, UCLA Department of Economics (2003) View citations (8)
    See also Journal Article Business Cycle Accounting, Econometrica, Econometric Society (2007) View citations (585) (2007)
49. How to Advance Theory with Structural VARs: Use the Sims-Cogley-Nason Approach
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2006) View citations (10)
50. Modeling the transition to a new economy: lessons from two technological revolutions
    Staff Report, Federal Reserve Bank of Minneapolis View citations (4)
    See also Journal Article Modeling the Transition to a New Economy: Lessons from Two Technological Revolutions, American Economic Review, American Economic Association (2007) View citations (59) (2007)
51. Modern Macroeconomics in Practice: How Theory is Shaping Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (76)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2006) View citations (70)
    See also Journal Article Modern Macroeconomics in Practice: How Theory Is Shaping Policy, Journal of Economic Perspectives, American Economic Association (2006) View citations (73) (2006)
52. The advantage of transparency in monetary policy instruments
    Staff Report, Federal Reserve Bank of Minneapolis View citations (6)

2005

53. A critique of structural VARs using real business cycle theory
    Working Papers, Federal Reserve Bank of Minneapolis View citations (78)
    Also in Levine's Bibliography, UCLA Department of Economics (2004) View citations (39)
54. Are Structural VARs Useful Guides for Developing Business Cycle Theories?
    2005 Meeting Papers, Society for Economic Dynamics View citations (27)
55. Modeling and measuring organization capital
    Staff Report, Federal Reserve Bank of Minneapolis View citations (279)
    See also Journal Article Modeling and Measuring Organization Capital, Journal of Political Economy, University of Chicago Press (2005) View citations (300) (2005)
56. Sudden Stops and Output Drops
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (128)
    Also in Levine's Bibliography, UCLA Department of Economics (2005) View citations (127)
    Staff Report, Federal Reserve Bank of Minneapolis (2005) View citations (108)
    See also Journal Article Sudden Stops and Output Drops, American Economic Review, American Economic Association (2005) View citations (130) (2005)

2004

57. Deflation and Depression: Is There and Empirical Link?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (54)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2004) View citations (48)
    See also Journal Article Deflation and Depression: Is There an Empirical Link?, American Economic Review, American Economic Association (2004) View citations (54) (2004)
58. On the Desirability of Fiscal Constraints in a Monetary Union
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations (8)
59. Patrick Kehoe's comment on \\"Determinants of business cycle comovement: a robust analysis\\" by Marianne Baxter and Michael Kouparitsas
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
60. The optimal degree of discretion in monetary policy
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2002) View citations (1)
    Working Paper Series, European Central Bank (2004) View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (6)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (3)
    See also Journal Article The Optimal Degree of Discretion in Monetary Policy, Econometrica, Econometric Society (2005) View citations (116) (2005)

2003

61. Competitive equilibria with limited enforcement
    Staff Report, Federal Reserve Bank of Minneapolis
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (8)
    Working Papers, Federal Reserve Bank of Minneapolis (2002) View citations (6)
    See also Journal Article Competitive equilibria with limited enforcement, Journal of Economic Theory, Elsevier (2004) View citations (63) (2004)
62. Financial Crises as Herds: Overturning the Critiques
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations (8)
    See also Journal Article Financial crises as herds: overturning the critiques, Journal of Economic Theory, Elsevier (2004) View citations (103) (2004)
63. Hot Money
    Levine's Bibliography, UCLA Department of Economics View citations (29)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (8)
    Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations (29)
    See also Journal Article Hot Money, Journal of Political Economy, University of Chicago Press (2003) View citations (31) (2003)
64. The Time Consistency of Optimal Monetary and Fiscal Policies
    Department of Economics Working Papers, Universidad Torcuato Di Tella View citations (2)
    See also Journal Article The Time Consistency of Optimal Monetary and Fiscal Policies, Econometrica, Econometric Society (2004) View citations (54) (2004)
65. The time consistency of monetary and fiscal policies
    Staff Report, Federal Reserve Bank of Minneapolis View citations (2)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2002) View citations (4)

2002

66. Accounting for the Great Depression (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis View citations (62)
67. Can sticky price models generate volatile and persistent real exchange rates?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (880)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (98)
    Staff Report, Federal Reserve Bank of Minneapolis (1998) View citations (103)
    See also Journal Article Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?, The Review of Economic Studies, Review of Economic Studies Ltd (2002) View citations (923) (2002)
68. Data Appendix to A Decade Lost and Found: Mexico and Chile in the 1980s
    Online Appendices, Review of Economic Dynamics View citations (42)
    Also in Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile (2001) View citations (53)
    See also Journal Article A Decade Lost and Found: Mexico and Chile in the 1980s, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2002) View citations (107) (2002)
69. Measuring Organization Capital
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
70. On the robustness of herds
    Working Papers, Federal Reserve Bank of Minneapolis View citations (3)
71. Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile (2002) View citations (11)
    Documentos de Trabajo, Instituto de Economia. Pontificia Universidad Católica de Chile. (2002) View citations (13)
    See also Journal Article Policy-Driven Productivity in Chile and Mexico in the 1980's and 1990's, American Economic Review, American Economic Association (2002) View citations (14) (2002)

2001

72. A Decade Lost and Found: Mexico and Chile in the 1980s
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (39)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (50)
    Staff Report, Federal Reserve Bank of Minneapolis (2001) View citations (3)
    See also Journal Article A Decade Lost and Found: Mexico and Chile in the 1980s, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2002) View citations (107) (2002)
73. On the optimality of transparent monetary policy
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)
74. The Advantage of Transparent Instruments of Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2001) View citations (12)
75. The Transition to a New Economy After the Second Industrial Revolution
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2001) View citations (37)
    See also Journal Article The transition to a new economy after the Second Industrial Revolution, Proceedings, Federal Reserve Bank of San Francisco (2002) View citations (1) (2002)

2000

76. Financial crises as herds
    Working Papers, Federal Reserve Bank of Minneapolis View citations (17)
77. International Business Cycles with Endogenous Incomplete Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2000) View citations (28)
    See also Journal Article International Business Cycles with Endogenous Incomplete Markets, Econometrica, Econometric Society (2002) View citations (402) (2002)
78. Money, Interest Rates, and Exchange Rates with Endogenously Segmented Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2000) View citations (8)
79. Money, interest rates, and exchange rates with endogenously segmented markets
    Staff Report, Federal Reserve Bank of Minneapolis View citations (17)
    See also Journal Article Money, Interest Rates, and Exchange Rates with Endogenously Segmented Markets, Journal of Political Economy, University of Chicago Press (2002) View citations (205) (2002)
80. Paths of development for early- and late-bloomers in a dynamic Heckscher-Ohlin model
    Staff Report, Federal Reserve Bank of Minneapolis View citations (55)

1999

81. Money and Interest Rates with Endogeneously Segmented Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1999) View citations (3)
82. Optimal Fiscal and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (479)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1998) View citations (15)
    See also Chapter Optimal fiscal and monetary policy, Handbook of Macroeconomics, Elsevier (1999) View citations (489) (1999)

1998

83. On the need for fiscal constraints in a monetary union
    Working Papers, Federal Reserve Bank of Minneapolis View citations (30)
    See also Journal Article On the need for fiscal constraints in a monetary union, Journal of Monetary Economics, Elsevier (2007) View citations (97) (2007)
84. Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (58)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (82)
    See also Journal Article Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?, Econometrica, Econometric Society (2000) View citations (716) (2000)
85. Sustainable Plans
    Levine's Working Paper Archive, David K. Levine View citations (30)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1989) View citations (4)
    See also Journal Article Sustainable Plans, Journal of Political Economy, University of Chicago Press (1990) View citations (245) (1990)

1997

86. Industry Evolution and Transition: A Neoclassical Benchmark
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
87. Models of energy use: putty-putty vs. putty-clay
    Staff Report, Federal Reserve Bank of Minneapolis View citations (5)
88. Models of sovereign debt: partial vs. general reputations
    Working Papers, Federal Reserve Bank of Minneapolis View citations (3)
89. Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (70)
90. The poverty of nations: a quantitative exploration
    Staff Report, Federal Reserve Bank of Minneapolis View citations (49)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (102)

1996

91. Optimal fiscal policy in a business cycle model (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis View citations (1)
92. Reputation Spillover Across Relationships with Enduring and Transient Beliefs: Reviving reputation Models of Debt
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
93. Reputation spillover across relationships: reviving reputation models of debt
    Staff Report, Federal Reserve Bank of Minneapolis View citations (24)

1995

94. Industry evolution and transition: measuring investment in organization
    Staff Report, Federal Reserve Bank of Minneapolis View citations (17)
95. Optimal social insurance, incentives, and transition
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)
96. Putty-clay capital and energy
    Working Papers, Federal Reserve Bank of Minneapolis View citations (7)
97. Social insurance and transition
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (3)
    Staff Report, Federal Reserve Bank of Minneapolis (1995) View citations (2)
    See also Journal Article Social Insurance and Transition, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (1996) View citations (25) (1996)

1994

98. Models of Energy Use: Putty-Putty versus Putty-Clay
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Models of Energy Use: Putty-Putty versus Putty-Clay, American Economic Review, American Economic Association (1999) View citations (207) (1999)
99. The role of institutions in reputation models of sovereign debt
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
    See also Journal Article The role of institutions in reputation models of sovereign debt, Journal of Monetary Economics, Elsevier (1995) View citations (57) (1995)

1993

100. Industry evolution and transition: the role of information capital
     Staff Report, Federal Reserve Bank of Minneapolis View citations (22)
101. International Business Cycles: Theory and Evidence
     Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (91)
     Also in NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (189)
102. Optimal Fiscal Policy in a Business Cycle Model
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
     Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) View citations (6)
     See also Journal Article Optimal Fiscal Policy in a Business Cycle Model, Journal of Political Economy, University of Chicago Press (1994) View citations (410) (1994)
103. Optimality of the Friedman Rule in Economies with Distorting Taxes
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
     Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) View citations (12)
     See also Journal Article Optimality of the Friedman rule in economies with distorting taxes, Journal of Monetary Economics, Elsevier (1996) View citations (199) (1996)

1992

104. Dynamics of the Trade Balance and the Terms of Trade: The J-Curve Revisited
     Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (6)
     Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1992) View citations (7)
105. Dynamics of the Trade Balance and the Terms of Trade: The S-Curve
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
     Also in Instructional Stata datasets for econometrics, Boston College Department of Economics
     Working Papers (Old Series), Federal Reserve Bank of Cleveland (1992) View citations (11)
     See also Journal Article Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?, American Economic Review, American Economic Association (1994) View citations (870) (1994)
     Software Item DOS executable for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?", QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles (1992) (1992)
     Software Item Web interface for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?", QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles (1992) (1992)
106. In search of scale effects in trade and growth
     Staff Report, Federal Reserve Bank of Minneapolis View citations (156)
     See also Journal Article In search of scale effects in trade and growth, Journal of Economic Theory, Elsevier (1992) View citations (129) (1992)
107. International Evidence on the Historical Properties of Business Cycles
     Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (422)
     Also in Staff Report, Federal Reserve Bank of Minneapolis (1991) View citations (7)
     See also Journal Article International Evidence of the Historical Properties of Business Cycles, American Economic Review, American Economic Association (1992) View citations (427) (1992)
108. Relative Price Movements in Dynamic General Equilibrium Models of International Trade
     Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (12)
     Also in NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (14)
     Working Papers (Old Series), Federal Reserve Bank of Cleveland (1992) View citations (11)

1991

109. International real business cycles
     Staff Report, Federal Reserve Bank of Minneapolis View citations (48)
     Also in Working Papers, Federal Reserve Bank of Minneapolis (1987)
     See also Journal Article International Real Business Cycles, Journal of Political Economy, University of Chicago Press (1992) View citations (1270) (1992)
110. Optimal fiscal and monetary policy: some recent results
     Staff Report, Federal Reserve Bank of Minneapolis View citations (250)
     See also Journal Article Optimal Fiscal and Monetary Policy: Some Recent Results, Journal of Money, Credit and Banking, Blackwell Publishing (1991) View citations (273) (1991)
111. Optimal fiscal policy in a stochastic growth model (technical appendix)
     Working Papers, Federal Reserve Bank of Minneapolis View citations (2)
112. Reputation with multiple relationships: reviving reputation models of debt
     Staff Report, Federal Reserve Bank of Minneapolis View citations (3)

1990

113. Sustainable Plans and Mutual Default
     IMF Working Papers, International Monetary Fund View citations (131)
     Also in Staff Report, Federal Reserve Bank of Minneapolis (1989) View citations (2)
     See also Journal Article Sustainable Plans and Mutual Default, The Review of Economic Studies, Review of Economic Studies Ltd (1993) View citations (67) (1993)

1989

114. International coordination of fiscal policy in limiting economies
     Staff Report, Federal Reserve Bank of Minneapolis View citations (5)
     See also Journal Article International Coordination of Fiscal Policy in Limiting Economies, Journal of Political Economy, University of Chicago Press (1990) View citations (52) (1990)
115. Sustainable plans and debt
     Staff Report, Federal Reserve Bank of Minneapolis View citations (7)
     See also Journal Article Sustainable Plans and Debt, Journal of Economic Theory, Elsevier (1993) View citations (50) (1993)

1988

116. On the denomination of government debt: a critique of the portfolio balance approach
     Staff Report, Federal Reserve Bank of Minneapolis View citations (5)
     See also Journal Article On the denomination of government debt: A critique of the portfolio balance approach, Journal of Monetary Economics, Elsevier (1989) View citations (58) (1989)
117. Time consistency and policy
     Staff Report, Federal Reserve Bank of Minneapolis View citations (34)

1987

118. Trade and Exchange-Rate Dynamics in a Dynamic Competitive Economy
     Working Paper, Economics Department, Queen's University View citations (1)

1986

119. Coordination of fiscal policies in a world economy
     Staff Report, Federal Reserve Bank of Minneapolis
     See also Journal Article Coordination of fiscal policies in a world economy, Journal of Monetary Economics, Elsevier (1987) View citations (62) (1987)
120. International policy cooperation may be undesirable
     Staff Report, Federal Reserve Bank of Minneapolis View citations (5)

Journal Articles

2024

1. Is a fiscal union optimal for a monetary union?
   Journal of Monetary Economics, 2024, 141, (C), 157-177
   See also Working Paper Is a fiscal union optimal for a monetary union?, Post-Print (2024) (2024)

2023

2. Asset Prices and Unemployment Fluctuations: A Resolution of the Unemployment Volatility Puzzle*
   The Review of Economic Studies, 2023, 90, (3), 1304-1357 View citations (2)
   See also Working Paper Asset Prices and Unemployment Fluctuations: A Resolution of the Unemployment Volatility Puzzle, NBER Working Papers (2022) View citations (5) (2022)

2020

3. On the Importance of Household versus Firm Credit Frictions in the Great Recession
   Review of Economic Dynamics, 2020, 37 Supplement 1, S34-S67 View citations (6)
   See also Working Paper On the Importance of Household versus Firm Credit Frictions in the Great Recession, Working Papers (2020) View citations (4) (2020)
   Software Item Code and data files for "On the Importance of Household versus Firm Credit Frictions in the Great Recession", Computer Codes (2020) (2020)
4. On the Optimality of Financial Repression
   Journal of Political Economy, 2020, 128, (2), 710 - 739 View citations (35)
5. Rethinking Optimal Currency Areas
   Journal of Monetary Economics, 2020, 111, (C), 80-94 View citations (19)
   See also Working Paper Rethinking Optimal Currency Areas, 2014 Meeting Papers (2014) View citations (3) (2014)

2019

6. Debt Constraints and Employment
   Journal of Political Economy, 2019, 127, (4), 1926 - 1991 View citations (23)
   See also Working Paper Debt Constraints and Employment, Staff Report (2016) View citations (24) (2016)
7. Financial Frictions and Fluctuations in Volatility
   Journal of Political Economy, 2019, 127, (5), 2049 - 2103 View citations (158)
   See also Working Paper Financial Frictions and Fluctuations in Volatility, NBER Working Papers (2016) View citations (53) (2016)

2018

8. Evolution of Modern Business Cycle Models: Accounting for the Great Recession
   Journal of Economic Perspectives, 2018, 32, (3), 141-66 View citations (18)
   See also Working Paper Evolution of Modern Business Cycle Models: Accounting for the Great Recession, NBER Working Papers (2018) View citations (18) (2018)

2017

9. Fiscal unions redux
   Economic Theory, 2017, 64, (4), 741-776 View citations (5)
   See also Working Paper Fiscal Unions Redux, Discussion Papers (2017) View citations (4) (2017)

2016

10. Bailouts, Time Inconsistency, and Optimal Regulation: A Macroeconomic View
    American Economic Review, 2016, 106, (9), 2458-93 View citations (74)
11. Debt Constraints and the Labor Wedge
    American Economic Review, 2016, 106, (5), 548-53 View citations (8)

2015

12. Prices are sticky after all
    Journal of Monetary Economics, 2015, 75, (C), 35-53 View citations (123)
    See also Working Paper Prices are Sticky After All, NBER Working Papers (2010) View citations (51) (2010)

2010

13. Sophisticated Monetary Policies
    The Quarterly Journal of Economics, 2010, 125, (1), 47-89 View citations (42)
    See also Working Paper Sophisticated Monetary Policies, NBER Working Papers (2009) View citations (15) (2009)

2009

14. New Keynesian Models: Not Yet Useful for Policy Analysis
    American Economic Journal: Macroeconomics, 2009, 1, (1), 242-66 View citations (312)
    See also Working Paper New Keynesian Models: Not Yet Useful for Policy Analysis, NBER Working Papers (2008) View citations (58) (2008)
15. Time-Varying Risk, Interest Rates, and Exchange Rates in General Equilibrium
    The Review of Economic Studies, 2009, 76, (3), 851-878 View citations (103)
    See also Working Paper Time-varying risk, interest rates, and exchange rates in general equilibrium, Staff Report (2008) View citations (21) (2008)

2008

16. Are structural VARs with long-run restrictions useful in developing business cycle theory?
    Journal of Monetary Economics, 2008, 55, (8), 1337-1352 View citations (212)
    See also Working Paper Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?, NBER Working Papers (2008) View citations (207) (2008)
17. If exchange rates are random walks, then almost everything we say about monetary policy is wrong
    Quarterly Review, 2008, (Jul), 2-9
    Also in American Economic Review, 2007, 97, (2), 339-345 (2007) View citations (36)
    See also Working Paper If exchange rates are random walks then almost everything we say about monetary policy is wrong, Working Papers (2007) View citations (18) (2007)
18. Time Inconsistency and Free-Riding in a Monetary Union
    Journal of Money, Credit and Banking, 2008, 40, (7), 1329-1356 View citations (52)
    Also in Journal of Money, Credit and Banking, 2008, 40, (7), 1329-1356 (2008) View citations (5)
    See also Working Paper Time Inconsistency and Free-Riding in a Monetary Union, Levine's Working Paper Archive (2010) View citations (2) (2010)

2007

19. Business Cycle Accounting
    Econometrica, 2007, 75, (3), 781-836 View citations (585)
    See also Working Paper Business cycle accounting, Staff Report (2006) View citations (29) (2006)
20. Modeling the Transition to a New Economy: Lessons from Two Technological Revolutions
    American Economic Review, 2007, 97, (1), 64-88 View citations (59)
    See also Working Paper Modeling the transition to a new economy: lessons from two technological revolutions, Staff Report (2006) View citations (4) (2006)
21. Modern macroeconomics in practice: how theory is shaping monetary policy
    Annual Report, 2007, 21, (May), 6-28
22. On the need for fiscal constraints in a monetary union
    Journal of Monetary Economics, 2007, 54, (8), 2399-2408 View citations (97)
    See also Working Paper On the need for fiscal constraints in a monetary union, Working Papers (1998) View citations (30) (1998)

2006

23. Modern Macroeconomics in Practice: How Theory Is Shaping Policy
    Journal of Economic Perspectives, 2006, 20, (4), 3-28 View citations (73)
    See also Working Paper Modern Macroeconomics in Practice: How Theory is Shaping Policy, NBER Working Papers (2006) View citations (76) (2006)

2005

24. Comment on: "Determinants of business cycle comovement: a robust analysis"
    Journal of Monetary Economics, 2005, 52, (1), 159-162 View citations (12)
25. Modeling and Measuring Organization Capital
    Journal of Political Economy, 2005, 113, (5), 1026-1053 View citations (300)
    See also Working Paper Modeling and measuring organization capital, Staff Report (2005) View citations (279) (2005)
26. Sudden Stops and Output Drops
    American Economic Review, 2005, 95, (2), 381-387 View citations (130)
    See also Working Paper Sudden Stops and Output Drops, NBER Working Papers (2005) View citations (128) (2005)
27. The Optimal Degree of Discretion in Monetary Policy
    Econometrica, 2005, 73, (5), 1431-1475 View citations (116)
    See also Working Paper The optimal degree of discretion in monetary policy, Staff Report (2004) View citations (1) (2004)

2004

28. Competitive equilibria with limited enforcement
    Journal of Economic Theory, 2004, 119, (1), 184-206 View citations (63)
    See also Working Paper Competitive equilibria with limited enforcement, Staff Report (2003) (2003)
29. Deflation and Depression: Is There an Empirical Link?
    American Economic Review, 2004, 94, (2), 99-103 View citations (54)
    See also Working Paper Deflation and Depression: Is There and Empirical Link?, NBER Working Papers (2004) View citations (54) (2004)
30. EconomicDynamics Forum: Patrick Kehoe on Whether Price Rigidities Matter for Business Cycle Analysis
    EconomicDynamics Newsletter, 2004, 5, (2)
31. Financial crises as herds: overturning the critiques
    Journal of Economic Theory, 2004, 119, (1), 128-150 View citations (103)
    See also Working Paper Financial Crises as Herds: Overturning the Critiques, NBER Working Papers (2003) View citations (14) (2003)
32. The Time Consistency of Optimal Monetary and Fiscal Policies
    Econometrica, 2004, 72, (2), 541-567 View citations (54)
    See also Working Paper The Time Consistency of Optimal Monetary and Fiscal Policies, Department of Economics Working Papers (2003) View citations (2) (2003)

2003

33. Accounting for the Great Depression
    Quarterly Review, 2003, 27, (Spr), 2-8 View citations (11)
    Also in American Economic Review, 2002, 92, (2), 22-27 (2002) View citations (77)
34. Hot Money
    Journal of Political Economy, 2003, 111, (6), 1262-1292 View citations (31)
    See also Working Paper Hot Money, Levine's Bibliography (2003) View citations (29) (2003)
35. The optimal degree of monetary policy discretion
    Proceedings, 2003 View citations (35)

2002

36. A Decade Lost and Found: Mexico and Chile in the 1980s
    Review of Economic Dynamics, 2002, 5, (1), 166-205 View citations (107)
    See also Working Paper A Decade Lost and Found: Mexico and Chile in the 1980s, Working Papers Central Bank of Chile (2001) View citations (39) (2001)
    Working Paper Data Appendix to A Decade Lost and Found: Mexico and Chile in the 1980s, Online Appendices (2002) View citations (42) (2002)
37. Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?
    The Review of Economic Studies, 2002, 69, (3), 533-563 View citations (923)
    See also Working Paper Can sticky price models generate volatile and persistent real exchange rates?, Staff Report (2002) View citations (880) (2002)
38. Decades lost and found: Mexico and Chile since 1980
    Quarterly Review, 2002, 26, (Win), 3-30 View citations (54)
39. International Business Cycles with Endogenous Incomplete Markets
    Econometrica, 2002, 70, (3), 907-928 View citations (402)
    See also Working Paper International Business Cycles with Endogenous Incomplete Markets, NBER Working Papers (2000) View citations (39) (2000)
40. Money, Interest Rates, and Exchange Rates with Endogenously Segmented Markets
    Journal of Political Economy, 2002, 110, (1), 73-112 View citations (205)
    See also Working Paper Money, interest rates, and exchange rates with endogenously segmented markets, Staff Report (2000) View citations (17) (2000)
41. Policy-Driven Productivity in Chile and Mexico in the 1980's and 1990's
    American Economic Review, 2002, 92, (2), 16-21 View citations (14)
    See also Working Paper Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s, NBER Working Papers (2002) View citations (13) (2002)
42. The transition to a new economy after the Second Industrial Revolution
    Proceedings, 2002, (Nov) View citations (1)
    See also Working Paper The Transition to a New Economy After the Second Industrial Revolution, NBER Working Papers (2001) View citations (43) (2001)

2000

43. Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?
    Econometrica, 2000, 68, (5), 1151-1180 View citations (716)
    See also Working Paper Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?, Staff Report (1998) View citations (58) (1998)

1999

44. Asking the right questions about the IMF
    Annual Report, 1999, 3-26 View citations (9)
45. Models of Energy Use: Putty-Putty versus Putty-Clay
    American Economic Review, 1999, 89, (4), 1028-1043 View citations (207)
    See also Working Paper Models of Energy Use: Putty-Putty versus Putty-Clay, NBER Working Papers (1994) View citations (4) (1994)
46. Taxing capital income: a bad idea
    Quarterly Review, 1999, 23, (Sum), 3-17 View citations (169)

1998

47. Comments on M. Obstfeld, “Open‐Economy Macroeconomics: Developments in Theory and Policy”
    Scandinavian Journal of Economics, 1998, 100, (1), 277-283
48. Models of Sovereign Debt: Partial versus General Reputations
    International Economic Review, 1998, 39, (1), 55-70 View citations (147)

1997

49. Reviving reputation models of international debt
    Quarterly Review, 1997, 21, (Win), 21-30 View citations (47)

1996

50. Optimality of the Friedman rule in economies with distorting taxes
    Journal of Monetary Economics, 1996, 37, (2-3), 203-223 View citations (199)
    See also Working Paper Optimality of the Friedman Rule in Economies with Distorting Taxes, NBER Working Papers (1993) View citations (51) (1993)
51. Social Insurance and Transition
    International Economic Review, 1996, 37, (2), 377-401 View citations (25)
    See also Working Paper Social insurance and transition, Working Papers (1995) View citations (2) (1995)

1995

52. The role of institutions in reputation models of sovereign debt
    Journal of Monetary Economics, 1995, 35, (1), 45-64 View citations (57)
    See also Working Paper The role of institutions in reputation models of sovereign debt, Staff Report (1994) View citations (1) (1994)

1994

53. A primer on static applied general equilibrium models
    Quarterly Review, 1994, 18, (Spr), 2-16 View citations (65)
54. Capturing NAFTA's impact with applied general equilibrium models
    Quarterly Review, 1994, 18, (Spr), 17-34 View citations (41)
55. Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?
    American Economic Review, 1994, 84, (1), 84-103 View citations (870)
    See also Working Paper Dynamics of the Trade Balance and the Terms of Trade: The S-Curve, NBER Working Papers (1992) View citations (10) (1992)
    Software Item Web interface for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?", QM&RBC Codes (1992) (1992)
    Software Item DOS executable for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?", QM&RBC Codes (1992) (1992)
56. Optimal Fiscal Policy in a Business Cycle Model
    Journal of Political Economy, 1994, 102, (4), 617-52 View citations (410)
    See also Working Paper Optimal Fiscal Policy in a Business Cycle Model, NBER Working Papers (1993) View citations (12) (1993)

1993

57. International business cycles: theory vs. evidence
    Quarterly Review, 1993, 17, (Fall), 14-29 View citations (63)
58. Sustainable Plans and Debt
    Journal of Economic Theory, 1993, 61, (2), 230-261 View citations (50)
    See also Working Paper Sustainable plans and debt, Staff Report (1989) View citations (7) (1989)
59. Sustainable Plans and Mutual Default
    The Review of Economic Studies, 1993, 60, (1), 175-195 View citations (67)
    See also Working Paper Sustainable Plans and Mutual Default, IMF Working Papers (1990) View citations (131) (1990)

1992

60. In search of scale effects in trade and growth
    Journal of Economic Theory, 1992, 58, (2), 377-409 View citations (129)
    See also Working Paper In search of scale effects in trade and growth, Staff Report (1992) View citations (156) (1992)
61. International Evidence of the Historical Properties of Business Cycles
    American Economic Review, 1992, 82, (4), 864-88 View citations (427)
    See also Working Paper International Evidence on the Historical Properties of Business Cycles, Working Papers (1992) View citations (422) (1992)
62. International Real Business Cycles
    Journal of Political Economy, 1992, 100, (4), 745-75 View citations (1270)
    See also Working Paper International real business cycles, Staff Report (1991) View citations (48) (1991)

1991

63. Optimal Fiscal and Monetary Policy: Some Recent Results
    Journal of Money, Credit and Banking, 1991, 23, (3), 519-39 View citations (273)
    Also in Proceedings, 1991, 519-546 (1991) View citations (260)
    See also Working Paper Optimal fiscal and monetary policy: some recent results, Staff Report (1991) View citations (250) (1991)

1990

64. International Coordination of Fiscal Policy in Limiting Economies
    Journal of Political Economy, 1990, 98, (3), 617-36 View citations (52)
    See also Working Paper International coordination of fiscal policy in limiting economies, Staff Report (1989) View citations (5) (1989)
65. Sustainable Plans
    Journal of Political Economy, 1990, 98, (4), 783-802 View citations (245)
    See also Working Paper Sustainable Plans, Levine's Working Paper Archive (1998) View citations (30) (1998)

1989

66. On the denomination of government debt: A critique of the portfolio balance approach
    Journal of Monetary Economics, 1989, 23, (3), 359-376 View citations (58)
    See also Working Paper On the denomination of government debt: a critique of the portfolio balance approach, Staff Report (1988) View citations (5) (1988)
67. Policy Cooperation Among Benevolent Governments May Be Undesirable
    The Review of Economic Studies, 1989, 56, (2), 289-296 View citations (182)

1988

68. On the Roles of International Financial Markets and Their Relevance for Economic Policy: Comment
    Journal of Money, Credit and Banking, 1988, 20, (3), 550-54 View citations (1)

1987

69. Coordination of fiscal policies in a world economy
    Journal of Monetary Economics, 1987, 19, (3), 349-376 View citations (62)
    See also Working Paper Coordination of fiscal policies in a world economy, Staff Report (1986) (1986)

Chapters

2016

1. Accounting for Business Cycles
   Elsevier View citations (67)
   See also Working Paper Accounting for Business Cycles, Federal Reserve Bank of Minneapolis (2016) View citations (40) (2016)

2009

2. On the Need for a New Approach to Analyzing Monetary Policy
   A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 389-425 View citations (29)
   See also Working Paper On the Need for a New Approach to Analyzing Monetary Policy, National Bureau of Economic Research, Inc (2008) View citations (44) (2008)

1999

3. Optimal fiscal and monetary policy
   Chapter 26 in Handbook of Macroeconomics, 1999, vol. 1, Part C, pp 1671-1745 View citations (489)
   See also Working Paper Optimal Fiscal and Monetary Policy, National Bureau of Economic Research, Inc (1999) View citations (479) (1999)

Software Items

2020

1. Code and data files for "On the Importance of Household versus Firm Credit Frictions in the Great Recession"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article On the Importance of Household versus Firm Credit Frictions in the Great Recession, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2020) View citations (6) (2020)

1992

2. DOS executable for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?"
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Journal Article Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?, American Economic Review, American Economic Association (1994) View citations (870) (1994)
   Working Paper Dynamics of the Trade Balance and the Terms of Trade: The S-Curve, NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (10) (1992)
3. Web interface for "Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?"
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles
   See also Journal Article Dynamics of the Trade Balance and the Terms of Trade: The J-Curve?, American Economic Review, American Economic Association (1994) View citations (870) (1994)
   Working Paper Dynamics of the Trade Balance and the Terms of Trade: The S-Curve, NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (10) (1992)