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Details about Michael Kumhof

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Homepage:http://www.stanford.edu/~kumhof/
Workplace:Bank of England, (more information at EDIRC)

Access statistics for papers by Michael Kumhof.

Last updated 2017-07-05. Update your information in the RePEc Author Service.

Short-id: pku60


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Working Papers

2016

  1. The macroeconomics of central bank issued digital currencies
    Bank of England working papers, Bank of England Downloads View citations (8)

2015

  1. Banks are not intermediaries of loanable funds – and why this matters
    Bank of England working papers, Bank of England Downloads View citations (23)
  2. Banks in The Global Integrated Monetary and Fiscal Model
    IMF Working Papers, International Monetary Fund Downloads View citations (1)
  3. Inequality, Leverage, and Crises
    PSE - Labex "OSE-Ouvrir la Science Economique", HAL
    Also in IMF Working Papers, International Monetary Fund (2010) Downloads View citations (30)
    2011 Meeting Papers, Society for Economic Dynamics (2011) View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) Downloads View citations (13)
    Post-Print, HAL (2015) View citations (5)

    See also Journal Article in American Economic Review (2015)

2014

  1. Financial Crises in DSGE Models; A Prototype Model
    IMF Working Papers, International Monetary Fund Downloads View citations (11)
  2. Financial Crises in DSGE Models; Selected Applications of MAPMOD
    IMF Working Papers, International Monetary Fund Downloads View citations (10)
  3. The Chicago Plan Revisited
    Annual Conference 2014 (Hamburg): Evidence-based Economic Policy, Verein für Socialpolitik / German Economic Association Downloads
    Also in IMF Working Papers, International Monetary Fund (2012) Downloads View citations (32)

2013

  1. Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model
    IMF Working Papers, International Monetary Fund Downloads View citations (30)
  2. Inequality, Leverage and Crises; The Case of Endogenous Default
    IMF Working Papers, International Monetary Fund Downloads View citations (15)
  3. The Benefits of International Policy Coordination Revisited
    IMF Working Papers, International Monetary Fund Downloads View citations (1)

2012

  1. Income Inequality and Current Account Imbalances
    IMF Working Papers, International Monetary Fund Downloads View citations (69)
  2. Oil and the World Economy; Some Possible Futures
    IMF Working Papers, International Monetary Fund Downloads View citations (9)
  3. The Future of Oil; Geology Versus Technology
    IMF Working Papers, International Monetary Fund Downloads View citations (14)
    See also Journal Article in International Journal of Forecasting (2015)

2011

  1. Risky Bank Lending and Optimal Capital Adequacy Regulation
    IMF Working Papers, International Monetary Fund Downloads View citations (17)
  2. Too much of a good thing? on the effects of limiting foreign reserve accumulation
    MPRA Paper, University Library of Munich, Germany Downloads
  3. Unequal = Indebted
    Post-Print, HAL

2010

  1. Budget Consolidation; Short-Term Pain and Long-Term Gain
    IMF Working Papers, International Monetary Fund Downloads View citations (8)
  2. Chile’s Structural Fiscal Surplus Rule: a Model – Based Evaluation
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (6)
    Also in IMF Working Papers, International Monetary Fund (2009) Downloads View citations (10)

    See also Journal Article in Journal Economía Chilena (The Chilean Economy) (2010)
  3. Effects of Fiscal Stimulus in Structural Models
    IMF Working Papers, International Monetary Fund Downloads View citations (94)
    See also Journal Article in American Economic Journal: Macroeconomics (2012)
  4. International Currency Portfolios
    2010 Meeting Papers, Society for Economic Dynamics Downloads
    Also in IMF Working Papers, International Monetary Fund (2009) Downloads
  5. Levarging inequality
    Post-Print, HAL
  6. The Global Integrated Monetary and Fiscal Model (GIMF) – Theoretical Structure
    IMF Working Papers, International Monetary Fund Downloads View citations (48)
  7. To Starve or Not to Starve the Beast?
    IMF Working Papers, International Monetary Fund Downloads
    See also Journal Article in Journal of Macroeconomics (2014)

2009

  1. Balance of Payments Anti-Crises
    IMF Working Papers, International Monetary Fund Downloads
    See also Journal Article in Journal of Macroeconomics (2016)
  2. Fiscal Deficits and Current Account Deficits
    IMF Working Papers, International Monetary Fund Downloads View citations (11)
    See also Journal Article in Journal of Economic Dynamics and Control (2013)
  3. Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits
    IMF Working Papers, International Monetary Fund Downloads View citations (19)
  4. Jointly Optimal Monetary and Fiscal Policy Rules under Borrowing Constraints
    IMF Working Papers, International Monetary Fund Downloads
  5. Simple, Implementable Fiscal Policy Rules
    IMF Working Papers, International Monetary Fund Downloads View citations (17)
  6. The Case for Global Fiscal Stimulus
    IMF Staff Position Notes, International Monetary Fund Downloads View citations (10)

2008

  1. Simple monetary rules under fiscal dominance
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
    Also in MPRA Paper, University Library of Munich, Germany (2007) Downloads
    IMF Working Papers, International Monetary Fund (2007) Downloads

    See also Journal Article in Journal of Money, Credit and Banking (2010)

2007

  1. A Party without a Hangover? On the Effects of U.S. Government Deficits
    IMF Working Papers, International Monetary Fund Downloads View citations (39)
    Also in 2007 Meeting Papers, Society for Economic Dynamics (2007) Downloads View citations (7)
  2. Balance of Payments Crises Under Inflation Targeting
    IMF Working Papers, International Monetary Fund Downloads View citations (7)
    Also in Working Papers, Stanford University, Department of Economics Downloads View citations (6)

    See also Journal Article in Journal of International Economics (2007)
  3. Monetary Policy in an Equilibrium Portfolio Balance Model
    IMF Working Papers, International Monetary Fund Downloads
    Also in 2005 Meeting Papers, Society for Economic Dynamics (2005) Downloads View citations (2)
  4. Politically Optimal Fiscal Policy
    IMF Working Papers, International Monetary Fund Downloads View citations (4)

2006

  1. Inflation Targeting Versus Joining a Monetary Union: An Assessment of the Potential Benefits and Costs Using a DSGE Model
    Computing in Economics and Finance 2006, Society for Computational Economics
  2. Measures of Potential Output from an Estimated DSGE Model of the United States
    Working Papers, Czech National Bank, Research Department Downloads View citations (9)
  3. Multi-Sectoral Cascading and Price Dynamics - A Bayesian Econometric Evaluation
    Computing in Economics and Finance 2006, Society for Computational Economics Downloads View citations (2)

2005

  1. A Rational Expectations Model of Optimal Inflation Inertia
    Computing in Economics and Finance 2005, Society for Computational Economics Downloads View citations (1)
  2. An Economy in Transition and DSGE: What the Czech National Bank’s New Projection Model Needs
    Working Papers, Czech National Bank, Research Department Downloads View citations (15)
  3. Government Debt; A Key Role in Financial Intermediation
    IMF Working Papers, International Monetary Fund Downloads View citations (44)
  4. On the Benefits of Exchange Rate Flexibility under Endogenous Tradedness of Goods
    Computing in Economics and Finance 2005, Society for Computational Economics Downloads View citations (4)

2004

  1. Fiscal Crisis Resolution: Taxation Versus Inflation
    2004 Meeting Papers, Society for Economic Dynamics Downloads View citations (11)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2004) Downloads View citations (7)
  2. Inflation Inertia- THe Role of Multiple, Interacting Pricing Rigidities
    Working Papers, Hong Kong Institute for Monetary Research Downloads

2003

  1. Inflation Inertia and Credible Disinflation - The Open Economy Case
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (11)
  2. Pricing Policies and Inflation Inertia
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (7)
    Also in IMF Working Papers, International Monetary Fund (2003) Downloads View citations (7)

2002

  1. Nominal Exchange Rate Anchoring Under Inflation Inertia
    IMF Working Papers, International Monetary Fund Downloads View citations (8)

2001

  1. A Critical View of Inflation Targeting: Crises, Limited Sustainability, and Aggregate Shocks
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (3)
    Also in Working Papers, Stanford University, Department of Economics (2000) Downloads

    See also Chapter (2002)

2000

  1. Inflation Targeting and Exchange Rate Flexibility
    Working Papers, Stanford University, Department of Economics Downloads
  2. International Capital Mobility in Emerging Markets: New Evidence from Daily Data
    Working Papers, Stanford University, Department of Economics Downloads View citations (2)
    See also Journal Article in Review of International Economics (2001)

Undated

  1. A Quantative Exploration of the Role of Short-Term Domestic Debit in Balance of Payments Crises
    Working Papers, Stanford University, Department of Economics Downloads
  2. Balance of Payments Crisis: The Role of Short-Term Debt
    Working Papers, Stanford University, Department of Economics Downloads View citations (10)
  3. Sterilization of Short-Term Capital Inflows - Through Lower Interest Rates ?
    Working Papers, Stanford University, Department of Economics Downloads
    See also Journal Article in Journal of International Money and Finance (2004)

Journal Articles

2016

  1. Balance-of-payments anti-crises
    Journal of Macroeconomics, 2016, 48, (C), 186-202 Downloads
    See also Working Paper (2009)

2015

  1. Inequality, Leverage, and Crises
    American Economic Review, 2015, 105, (3), 1217-45 Downloads View citations (39)
    See also Working Paper (2015)
  2. Risky bank lending and countercyclical capital buffers
    Journal of Economic Dynamics and Control, 2015, 58, (C), 58-80 Downloads View citations (10)
  3. The future of oil: Geology versus technology
    International Journal of Forecasting, 2015, 31, (1), 207-221 Downloads View citations (2)
    See also Working Paper (2012)

2014

  1. To starve or not to starve the beast?
    Journal of Macroeconomics, 2014, 39, (PA), 1-23 Downloads
    See also Working Paper (2010)
  2. Trade Openness and Exchange Rate Regimes
    Journal of Money, Credit and Banking, 2014, 46, (8), 1657-1686 Downloads

2013

  1. Fiscal deficits and current account deficits
    Journal of Economic Dynamics and Control, 2013, 37, (10), 2062-2082 Downloads View citations (5)
    See also Working Paper (2009)
  2. Simple fiscal policy rules for small open economies
    Journal of International Economics, 2013, 91, (1), 113-127 Downloads View citations (9)

2012

  1. Effects of Fiscal Stimulus in Structural Models
    American Economic Journal: Macroeconomics, 2012, 4, (1), 22-68 Downloads View citations (233)
    See also Working Paper (2010)
  2. PRICING POLICIES AND INFLATION DYNAMICS
    Macroeconomic Dynamics, 2012, 16, (04), 576-604 Downloads

2011

  1. Deficit reduction: Short-term pain for long-term gain
    European Economic Review, 2011, 55, (1), 118-139 Downloads View citations (13)
  2. Jointly optimal monetary and fiscal policy rules under liquidity constraints
    Journal of Macroeconomics, 2011, 33, (3), 373-389 Downloads View citations (15)

2010

  1. Chile’s Structural Fiscal Surplus Rule: a Model-Based Evaluation
    Journal Economía Chilena (The Chilean Economy), 2010, 13, (3), 5-32 Downloads View citations (6)
    See also Working Paper (2010)
  2. Global effects of fiscal stimulus during the crisis
    Journal of Monetary Economics, 2010, 57, (5), 506-526 Downloads View citations (27)
  3. On the theory of sterilized foreign exchange intervention
    Journal of Economic Dynamics and Control, 2010, 34, (8), 1403-1420 Downloads View citations (15)
  4. Policies to Rebalance the Global Economy After the Financial Crisis
    International Journal of Central Banking, 2010, 6, (1), 215-252 Downloads View citations (1)
  5. Simple Monetary Rules under Fiscal Dominance
    Journal of Money, Credit and Banking, 2010, 42, (1), 63-92 Downloads View citations (6)
    See also Working Paper (2008)

2008

  1. Optimal price setting and inflation inertia in a rational expectations model
    Journal of Economic Dynamics and Control, 2008, 32, (8), 2584-2621 Downloads View citations (13)
    Also in Proceedings, 2005 (2005) Downloads View citations (11)

2007

  1. Balance of payments crises under inflation targeting
    Journal of International Economics, 2007, 72, (1), 242-264 Downloads View citations (7)
    See also Working Paper (2007)
  2. Inflation inertia and credible disinflation
    Journal of International Economics, 2007, 73, (1), 48-68 Downloads View citations (1)

2004

  1. Sterilization of short-term capital inflows--through lower interest rates?
    Journal of International Money and Finance, 2004, 23, (7-8), 1209-1221 Downloads View citations (3)
    See also Working Paper

2001

  1. International Capital Mobility in Emerging Markets: New Evidence from Daily Data
    Review of International Economics, 2001, 9, (4), 626-40 Downloads View citations (15)
    See also Working Paper (2000)

2000

  1. A quantitative exploration of the role of short-term domestic debt in balance of payments crises
    Journal of International Economics, 2000, 51, (1), 195-215 Downloads View citations (6)

Chapters

2002

  1. A Critical View of Inflation Targeting: Crises, Limited Sustaintability, and Aggregate Shocks
    Chapter 8 in Inflation Targeting: Desing, Performance, Challenges, 2002, vol. 5, pp 349-394 Downloads
    See also Working Paper (2001)
 
Page updated 2017-10-17