Details about Kenneth Neil Kuttner

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Homepage:	http://econ.williams.edu/people/knk1
Workplace:	Economics Department, Williams College, (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC)

Access statistics for papers by Kenneth Neil Kuttner.

Last updated 2020-06-30. Update your information in the RePEc Author Service.

Short-id: pku75

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Jump to Journal Articles Chapters

Working Papers

2019

1. Macroeconomic Research, Present and Past
   Department of Economics Working Papers, Department of Economics, Williams College

2018

2. Outside the Box: Unconventional Monetary Policy in the Great Recession and Beyond
   Department of Economics Working Papers, Department of Economics, Williams College View citations (26)

2014

3. Lessons from Decades Lost: Economic Challenges and Opportunities Facing Japan and the United States
   PIIE Briefings, Peterson Institute for International Economics View citations (2)

2013

4. Can Non-Interest Rate Policies Stabilize Housing Markets? Evidence from a Panel of 57 Economies
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (102)
   Also in BIS Working Papers, Bank for International Settlements (2013) View citations (107)
   See also Journal Article in Journal of Financial Stability (2016)

2012

5. Low Interest Rates and Housing Bubbles: Still No Smoking Gun
   Department of Economics Working Papers, Department of Economics, Williams College View citations (29)
   See also Chapter (2013)

2011

6. A Shared Sense of Responsibility: Money Versus Effort Contributions in the Vountary Provision of Public Goods
   Department of Economics Working Papers, Department of Economics, Williams College View citations (1)
7. How Flexible Can Inflation Targeting Be and Still Work?
   Working Paper Series, Peterson Institute for International Economics View citations (1)
   Also in Department of Economics Working Papers, Department of Economics, Williams College (2011) View citations (1)
   Discussion Papers, Monetary Policy Committee Unit, Bank of England (2011) View citations (1)
8. Monetary Policy and Asset Price Volatility: Should We Refill the Bernanke-Gertler Prescription?
   Department of Economics Working Papers, Department of Economics, Williams College View citations (4)

2010

9. Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
   Also in Department of Economics Working Papers, Department of Economics, Williams College (2010) View citations (18)
   See also Chapter (2010)

2008

10. Understanding the Flattening Phillips Curve
    Department of Economics Working Papers, Department of Economics, Williams College View citations (7)
    Also in RBA Research Discussion Papers, Reserve Bank of Australia (2008) View citations (18)
    See also Journal Article in The North American Journal of Economics and Finance (2010)

2007

11. Do Markets Care Who Chairs the Central Bank?
    Department of Economics Working Papers, Department of Economics, Williams College View citations (5)
    Also in Working Paper Series, Peterson Institute for International Economics (2007) View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (5)
    See also Journal Article in Journal of Money, Credit and Banking (2010)

2006

12. Can Central Banks Target Bond Prices?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)

2004

13. Lost Decade in Translation: Did the US Learn from Japan's Post-Bubble Mistakes?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
14. What Explains the Stock Market's Reaction to Federal Reserve Policy?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    Also in Staff Reports, Federal Reserve Bank of New York (2003) View citations (39)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (32)
    See also Journal Article in Journal of Finance (2005)

2003

15. The Difficulty of Discerning What's Too Tight: Taylor Rules and Japanese Monetary Policy
    Working Paper Series, Peterson Institute for International Economics View citations (7)
    See also Journal Article in The North American Journal of Economics and Finance (2004)

2002

16. Passive Savers and Fiscal Policy Effectiveness in Japan
    Working Paper Series, Peterson Institute for International Economics View citations (28)

2001

17. Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks
    Working Paper Series, Peterson Institute for International Economics View citations (30)
    Also in Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) (2001) View citations (51)
    See also Journal Article in International Journal of Finance & Economics (2001)

2000

18. Inflation, Monetary Transparency, and G3 Exchange Rate Volatility
    Working Paper Series, Peterson Institute for International Economics View citations (24)
19. Monetary policy surprises and interest rates: evidence from the Fed funds futures markets
    Staff Reports, Federal Reserve Bank of New York View citations (31)
    See also Journal Article in Journal of Monetary Economics (2001)

1999

20. Are there "bank effects" in borrowers' costs of funds? Evidence from a matched sample of borrowers and banks
    Staff Reports, Federal Reserve Bank of New York View citations (16)
    See also Journal Article in The Journal of Business (2002)
21. Does Talk Matter After All? Inflation Targeting and Central Bank Behavior
    Working Paper Series, Peterson Institute for International Economics View citations (58)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (1999) View citations (40)
    Staff Reports, Federal Reserve Bank of New York (1999) View citations (63)

1998

22. Can VAR's describe monetary policy?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (23)
    Also in Research Paper, Federal Reserve Bank of New York (1998) View citations (24)
23. Indicator Properties of the Paper—Bill Spread: Lessons from Recent Experience
    Scholarly Articles, Harvard University Department of Economics View citations (12)

1996

24. A price target for U.S. monetary policy? Lessons from the experience with money growth targets
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (43)
    See also Journal Article in Brookings Papers on Economic Activity (1996)
25. Macroeconomic Effects of Employment Reallocation
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER) View citations (28)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (18)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1996)

1995

26. The Fed funds futures rate as a predictor of Federal Reserve policy
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (55)
    See also Journal Article in Journal of Futures Markets (1996)

1994

27. Indicator Properties of the Paper-Bill Spread: Lessons from Recent Experiences
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1994) View citations (1)
    See also Journal Article in The Review of Economics and Statistics (1998)

1993

28. An unobserved-components model of constant-inflation potential output
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (2)
29. Economic activity and the short-term credit markets: an analysis of prices and quantities
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (83)
    See also Journal Article in Brookings Papers on Economic Activity (1993)

1992

30. Estimating monthly regional value added by combining regional input with national production data
    Working Paper Series, Regional Economic Issues, Federal Reserve Bank of Chicago
31. Monetary policy and external finance: interpreting the behavior of financial flows and interest rate spreads
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago

1991

32. Another Look at the Evidence on Money-Income Causality
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Econometrics (1993)
33. Using noisy indicators to measure potential output
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (4)
34. Why Does the Paper-Bill Spread Predict Real Economic Activity?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1991) View citations (25)
    See also Chapter (1993)

1990

35. Another look at the evidence on money-income casualty
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (2)
36. Money, income, prices and interest rates after the 1980s
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago
37. Money, output, and inflation: testing the P-star restrictions
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago

1989

38. Monetary and non-monetary sources of inflation: an error correction analysis
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (2)
39. Money, Income and Prices After the 1980s
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

1988

40. Imperfect information and the permanent income hypothesis
    Staff Memoranda, Federal Reserve Bank of Chicago View citations (1)
41. Time-Varying Risk Perceptions and the Pricing of Risky Assets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article in Oxford Economic Papers (1992)

Journal Articles

2016

1. Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies
   Journal of Financial Stability, 2016, 26, (C), 31-44 View citations (79)
   See also Working Paper (2013)

2015

2. Discussion of Cesa‐Bianchi, Cespedes, and Rebucci
   Journal of Money, Credit and Banking, 2015, 47, (S1), 337-342

2011

3. Pierre L. Siklos, Martin T. Bohl and Mark E. Wohar, Challenges in central banking: the current institutional environment and forces affecting monetary policy, Cambridge University Press (2010)
   Journal of International Economics, 2011, 83, (1), 93-94

2010

4. Do Markets Care Who Chairs the Central Bank?
   Journal of Money, Credit and Banking, 2010, 42, (2-3), 347-371 View citations (19)
   See also Working Paper (2007)
5. Introduction
   The North American Journal of Economics and Finance, 2010, 21, (2), 107-109
6. Reinventing the Lender of Last Resort
   Japanese Economy, 2010, 37, (2), 3-22
7. The Fed's response to the financial crisis: Pages from the BOJ playbook, or a whole new ball game?
   Public Policy Review, 2010, 6, (3), 407-430 View citations (2)
8. Understanding the flattening Phillips curve
   The North American Journal of Economics and Finance, 2010, 21, (2), 110-125 View citations (46)
   See also Working Paper (2008)
9. Victorian Financial Crises and their Implications for the Future
   Business Economics, 2010, 45, (2), 102-109 View citations (2)

2008

10. Commentary on \\"Assessing monetary policy effects using daily federal funds futures contracts\\"
    Review, 2008, 90, (Jul), 399-404

2005

11. Edwin M. Truman, Inflation Targeting in the World Economy, Institute for International Economics (2003)
    Journal of International Economics, 2005, 67, (1), 259-262
12. What Explains the Stock Market's Reaction to Federal Reserve Policy?
    Journal of Finance, 2005, 60, (3), 1221-1257 View citations (747)
    Also in Proceedings, 2003, (Mar) (2003) View citations (15)
    See also Working Paper (2004)

2004

13. Comments on "Price Stability and Japanese Monetary Policy."
    Monetary and Economic Studies, 2004, 22, (3), 37-46 View citations (3)
14. The difficulty of discerning what's too tight: Taylor rules and Japanese monetary policy
    The North American Journal of Economics and Finance, 2004, 15, (1), 53-74 View citations (20)
    See also Working Paper (2003)
15. The role of policy rules in inflation targeting
    Review, 2004, 86, (Jul), 89-112 View citations (23)

2002

16. Are There Bank Effects in Borrowers' Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks
    The Journal of Business, 2002, 75, (4), 559-81 View citations (92)
    See also Working Paper (1999)
17. Fiscal Policy Effectiveness in Japan
    Journal of the Japanese and International Economies, 2002, 16, (4), 536-558 View citations (33)
18. The monetary transmission mechanism: some answers and further questions
    Economic Policy Review, 2002, 8, (May), 15-26 View citations (65)

2001

19. Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks
    International Journal of Finance & Economics, 2001, 6, (4), 369-87 View citations (29)
    See also Working Paper (2001)
20. Monetary policy surprises and interest rates: Evidence from the Fed funds futures market
    Journal of Monetary Economics, 2001, 47, (3), 523-544 View citations (869)
    See also Working Paper (2000)
21. Personal on-line payments
    Economic Policy Review, 2001, (Dec), 35-50 View citations (8)
22. The Great Recession: Lessons for Macroeconomic Policy from Japan
    Brookings Papers on Economic Activity, 2001, 32, (2), 93-186 View citations (68)

1998

23. Indicator Properties Of The Paper-Bill Spread: Lessons From Recent Experience
    The Review of Economics and Statistics, 1998, 80, (1), 34-44 View citations (71)
    See also Working Paper (1994)

1997

24. Sources of New York employment fluctuations
    Economic Policy Review, 1997, 3, (Feb), 21-35 View citations (4)

1996

25. A Price Target for U.S. Monetary Policy? Lessons from the Experience with Money Growth Targets
    Brookings Papers on Economic Activity, 1996, 27, (1), 77-146 View citations (66)
    See also Working Paper (1996)
26. Macroeconomic effects of employment reallocation
    Carnegie-Rochester Conference Series on Public Policy, 1996, 44, (1), 87-116 View citations (26)
    See also Working Paper (1996)
27. The Fed funds futures rate as a predictor of federal reserve policy
    Journal of Futures Markets, 1996, 16, (8), 865-879 View citations (91)
    See also Working Paper (1995)

1994

28. Does inflation reduce productivity?
    Economic Perspectives, 1994, 18, (Nov), 2-14 View citations (17)
29. Estimating Potential Output as a Latent Variable
    Journal of Business & Economic Statistics, 1994, 12, (3), 361-68 View citations (293)

1993

30. Another look at the evidence on money-income causality
    Journal of Econometrics, 1993, 57, (1-3), 189-203 View citations (58)
    See also Working Paper (1991)
31. Credit conditions and external finance: interpreting the behavior of financial flows and interest rate spreads
    Proceedings, 1993
32. Economic Activity and the Short-term Credit Markets: An Analysis of Prices and Quantities
    Brookings Papers on Economic Activity, 1993, 24, (2), 193-284 View citations (86)
    See also Working Paper (1993)
33. Tracking Midwest manufacturing and productivity growth
    Economic Perspectives, 1993, 17, (Sep), 2-11

1992

34. Monetary policy with uncertain estimates of potential output
    Economic Perspectives, 1992, 16, (Jan), 2-15 View citations (34)
35. Money, Income, Prices, and Interest Rates
    American Economic Review, 1992, 82, (3), 472-92 View citations (280)
36. Time-Varying Risk Perceptions and the Pricing of Risky Assets
    Oxford Economic Papers, 1992, 44, (4), 566-98 View citations (11)
    See also Working Paper (1988)

1990

37. Inflation and the growth rate of money
    Economic Perspectives, 1990, 14, (Jan), 2-11 View citations (5)

Chapters

2016

1. A comparison of liquidity management tools in seven Asian economies
   A chapter in Expanding the boundaries of monetary policy in Asia and the Pacific, 2016, vol. 88, pp 33-58 View citations (4)

2013

2. Low Interest Rates and Housing Bubbles: Still No Smoking Gun
   Chapter 8 in The Role of Central Banks in Financial Stability How Has It Changed?, 2013, pp 159-185
   See also Working Paper (2012)

2012

3. Discussant remarks on Filipa Sá, Pascal Towbin and Tomasz Wieladek’s paper "Capital inflows,financial innovation and housing booms"
   A chapter in Property markets and financial stability, 2012, vol. 64, pp 76-82
4. Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit
   A chapter in Property Markets and Financial Stability, 2012 View citations (27)

2010

5. Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?
   Chapter 24 in Handbook of Monetary Economics, 2010, vol. 3, pp 1345-1438 View citations (18)
   See also Working Paper (2010)

2008

6. Equity prices as leading indicators: the Asian experience
   A chapter in Financial market developments and their implications for monetary policy, 2008, vol. 39, pp 167-192

2004

7. A Snapshot of Inflation Targeting in its Adolescence
   A chapter in The Future of Inflation Targeting, 2004 View citations (22)

2002

8. The monetary transmission mechanism in the United States: some answers and further questions
   A chapter in Market functioning and central bank policy, 2002, vol. 12, pp 433-443 View citations (26)

1993

9. Why Does the Paper-Bill Spread Predict Real Economic Activity?
   A chapter in Business Cycles, Indicators, and Forecasting, 1993, pp 213-254 View citations (43)
   See also Working Paper (1991)