Details about Athanasios Orphanides

E-mail:
Homepage:	https://mitsloan.mit.edu/faculty/directory/athanasios-orphanides
Phone:	+1 (617) 324-4051
Postal address:	MIT Sloan School of Management 100 Main Street, E62-481 Cambridge, MA 02142 USA
Workplace:	Sloan School of Management, Massachusetts Institute of Technology (MIT), (more information at EDIRC) Asia School of Business, (more information at EDIRC)

Access statistics for papers by Athanasios Orphanides.

Last updated 2022-04-04. Update your information in the RePEc Author Service.

Short-id: por35

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Working Papers

2022

1. Monetary policy in South Africa, 2007-21
   WIDER Working Paper Series, World Institute for Development Economic Research (UNU-WIDER)

2021

2. Collateral Framework: Liquidity Premia and Multiple Equilibria
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) (2021)
   Working papers, Faculty of Business and Economics - University of Basel (2021)
3. Fiscal and monetary policy interactions in a low interest rate world
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in BIS Working Papers, Bank for International Settlements (2021) View citations (9)
4. The Power of Central Bank Balance Sheets
   IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (3)
   See also Journal Article in Monetary and Economic Studies (2021)

2019

5. Compensation Incentives and Risk Taking Behavior: Evidence from Mutual Funds
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1996) View citations (6)
6. Earnings Forecasts and the Predictability of Stock Returns: Evidence from Trading the S&P
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (8)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (28)
7. Inflation, Volatility, and Growth
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (6)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1996) View citations (23)
   See also Journal Article in International Finance (1999)
8. The Opportunistic Approach to Disinflation
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (25)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1996) View citations (41)
   See also Journal Article in International Finance (2002)

2018

9. The Boundaries of Central Bank Independence: Lessons from Unconventional Times
   IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (5)
   Also in IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) (2018) View citations (5)

2017

10. Central Bank Policies and the Debt Trap
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
11. The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound
    European Economy - Discussion Papers 2015 -, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission View citations (14)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (15)
    See also Journal Article in Economic Policy (2020)

2016

12. Fiscal Implications of Central Bank Balance Sheet Policies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (16)
    Also in IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) (2016) View citations (13)
13. The Term Structure and Inflation Uncertainty
    Working Paper Series, Federal Reserve Bank of Chicago View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (2)
    See also Journal Article in Journal of Financial Economics (2020)

2015

14. Fear of Liftoff: Uncertainty, Rules and Discretion in Monetary Policy Normalization
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (15)
    Also in IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) (2015) View citations (6)
    See also Journal Article in Review (2015)

2014

15. Are rules and boundaries sufficient to limit harmful central bank discretion? Lessons from Europe
    IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) View citations (5)
    See also Journal Article in Journal of Economic Dynamics and Control (2014)
16. Inflation Uncertainty and Disagreement in Bond Risk Premia
    Working Paper Series, Federal Reserve Bank of Chicago View citations (9)
17. The Euro Area Crisis: Politics over Economics
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
    See also Journal Article in Atlantic Economic Journal (2014)
18. What Happened in Cyprus? The Economic Consequences of the Last Communist Government in Europe
    FMG Special Papers, Financial Markets Group
    Also in IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) (2014) View citations (12)
    See also Chapter (2016)

2013

19. Is monetary policy overburdened?
    IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) View citations (19)
    Also in BIS Working Papers, Bank for International Settlements (2013) View citations (19)
    Public Policy Discussion Paper, Federal Reserve Bank of Boston (2013) View citations (5)
20. What happened in Cyprus
    SAFE Policy Letters, Leibniz Institute for Financial Research SAFE View citations (4)

2012

21. Complexity and Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
    Also in IMFS Working Paper Series, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS) (2012) View citations (7)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2012) View citations (7)
    See also Journal Article in International Journal of Central Banking (2013)

2011

22. Monetary Policy Mistakes and the Evolution of Inflation Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    Also in Working Papers, Central Bank of Cyprus (2010) View citations (9)
    Working Paper Series, Federal Reserve Bank of San Francisco (2010) View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (7)
    See also Chapter (2013)
23. New Paradigms in Central Banking?
    Working Papers, Central Bank of Cyprus View citations (5)

2010

24. Evolving macroeconomic perceptions and the term structure of interest rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
    See also Journal Article in Journal of Economic Dynamics and Control (2012)
25. Monetary Policy Lessons from the Crisis
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    Also in Working Papers, Central Bank of Cyprus (2010) View citations (12)
    See also Chapter (2011)
26. Η Σταθερότητα του Χρηματοπιστωτικού Τομέα: Προβληματισμοί και Συμπεράσματα από την Κρίση για την Ευρώπη
    Working Papers, Central Bank of Cyprus

2008

27. Economic Projections and Rules-of-Thumb for Monetary Policy
    Discussion Papers, Stanford Institute for Economic Policy Research View citations (72)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (72)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2008) View citations (78)
    CFS Working Paper Series, Center for Financial Studies (2008)
    See also Journal Article in Review (2008)
28. Imperfect Central Bank Communication - Information versus Distraction
    IMF Working Papers, International Monetary Fund View citations (18)
    Also in Working Papers, Central Bank of Cyprus (2008) View citations (17)
    Working Paper Series, Uppsala University, Department of Economics (2008) View citations (16)
    See also Journal Article in International Journal of Central Banking (2011)
29. Imperfect Knowledge And The Pitfalls Of Optimal Control Monetary Policy
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (6)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2008)
    Working Papers, Central Bank of Cyprus (2008) View citations (6)
    See also Chapter (2009)
30. LEARNING, EXPECTATIONS FORMATION, AND THE PITFALLS OF OPTIMAL CONTROL MONETARY POLICY
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (57)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2008) View citations (42)
    Working Papers, Central Bank of Cyprus (2008) View citations (54)
    See also Journal Article in Journal of Monetary Economics (2008)
31. Uncertainty and disagreement in economic forecasting
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (28)

2007

32. Robust monetary policy with imperfect knowledge
    Working Paper Series, Federal Reserve Bank of San Francisco View citations (145)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2007) View citations (145)
    Computing in Economics and Finance 2005, Society for Computational Economics (2005) View citations (20)
    Working Paper Series, European Central Bank (2007) View citations (166)
    See also Journal Article in Journal of Monetary Economics (2007)
33. Taylor rules
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (11)

2006

34. Inflation Targeting Under Imperfect Knowledge
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (21)
    Also in Computing in Economics and Finance 2006, Society for Computational Economics (2006) View citations (22)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (36)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2006) View citations (11)
    Working Paper Series, Federal Reserve Bank of San Francisco (2006) View citations (13)
    See also Journal Article in Economic Review (2007)
    Chapter (2007)
35. The road to price stability
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (6)
    See also Journal Article in American Economic Review (2006)

2005

36. A Quantitative Exploration of the Opportunistic Approach to Disinflation
    CFS Working Paper Series, Center for Financial Studies
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2005) View citations (8)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (18)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (11)
    See also Journal Article in Journal of Monetary Economics (2006)
37. Inflation Scares and Forecast-Based Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (96)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2003) View citations (15)
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2003) View citations (24)
    Working Paper Series, Federal Reserve Bank of San Francisco (2003) View citations (11)
    See also Journal Article in Review of Economic Dynamics (2005)
38. Monetary policy with imperfect knowledge
    Working Paper Series, Federal Reserve Bank of San Francisco View citations (8)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (16)
    Computing in Economics and Finance 2001, Society for Computational Economics (2001) View citations (4)
    See also Journal Article in Journal of the European Economic Association (2006)
39. Term Structure Estimation with Survey Data on Interest Rate Forecasts
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (118)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (95)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (50)
    See also Journal Article in Journal of Financial and Quantitative Analysis (2012)
40. The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning and Expectations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (177)
    Also in CFS Working Paper Series, Center for Financial Studies (2004)
    Working Paper Series, Federal Reserve Bank of San Francisco (2003) View citations (5)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (3)
    Working Paper Series, European Central Bank (2004) View citations (24)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2004) View citations (16)
    Computing in Economics and Finance 2004, Society for Computational Economics (2004) View citations (15)
    See also Journal Article in Journal of Economic Dynamics and Control (2005)
41. The Reform of October 1979: How It Happened and Why
    CFS Working Paper Series, Center for Financial Studies
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2005) View citations (14)
    Working Papers, Federal Reserve Bank of St. Louis (2004)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (36)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2004)
    See also Journal Article in Review (2013)
42. The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (191)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (12)
    CIRANO Working Papers, CIRANO (2003) View citations (34)
    See also Journal Article in Journal of Money, Credit and Banking (2005)

2004

43. Monetary policy in deflation: the liquidity trap in history and practice
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (36)
    See also Journal Article in The North American Journal of Economics and Finance (2004)
44. The Macroeconomic Consequences of Terrorism
    CESifo Working Paper Series, CESifo View citations (216)
    See also Journal Article in Journal of Monetary Economics (2004)

2003

45. Historical monetary policy analysis and the Taylor rule
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (364)
    See also Journal Article in Journal of Monetary Economics (2003)
46. Imperfect Knowledge, Inflation Expectations, and Monetary Policy
    CFS Working Paper Series, Center for Financial Studies
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (130)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (38)
    Working Paper Series, Federal Reserve Bank of San Francisco (2002) View citations (18)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (81)
    See also Chapter (2004)
47. Inflation Scares and Monetary Policy
    Computing in Economics and Finance 2003, Society for Computational Economics View citations (14)
48. Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero
    CFS Working Paper Series, Center for Financial Studies
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (127)
    Working Paper Series, European Central Bank (2003) View citations (51)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2003) View citations (13)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (21)
    See also Journal Article in The B.E. Journal of Macroeconomics (2004)
49. Robust monetary policy rules with unknown natural rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (115)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2002) View citations (142)
    See also Journal Article in Brookings Papers on Economic Activity (2002)

2002

50. Activist stabilization policy and inflation: The Taylor rule in the 1970s
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (4)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2000) View citations (26)
51. Monetary policy rules and the Great Inflation
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (172)
    See also Journal Article in American Economic Review (2002)
52. Monetary policy rules, macroeconomic stability and inflation: a view from the trenches
    Working Paper Series, European Central Bank View citations (2)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2001) View citations (29)
    See also Journal Article in Journal of Money, Credit and Banking (2004)

2001

53. The Reliability of Inflation Forecasts Based on Output Gaps in Real Time
    Computing in Economics and Finance 2001, Society for Computational Economics View citations (19)
54. The Unreliability of Output Gap Estimates in Real Time
    CIRANO Working Papers, CIRANO View citations (29)
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (1)
    Macroeconomics, University Library of Munich, Germany (1999) View citations (78)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations (63)
    See also Journal Article in The Review of Economics and Statistics (2002)

2000

55. Monetary policy when the nominal short-term interest rate is zero
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (30)
    See also Journal Article in The B.E. Journal of Macroeconomics (2003)
56. The quest for prosperity without inflation
    Working Paper Series, European Central Bank View citations (88)
    Also in Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (1999) View citations (81)
    See also Journal Article in Journal of Monetary Economics (2003)

1999

57. Efficient monetary policy design near price stability
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (13)
    See also Journal Article in Journal of the Japanese and International Economies (2000)
58. Errors in the measurement of the output gap and the design of monetary policy
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (17)
    See also Journal Article in Journal of Economics and Business (2000)
59. Inflation zone targeting
    Working Paper Series, European Central Bank View citations (22)
    See also Journal Article in European Economic Review (2000)
60. Optimal discretion
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Scandinavian Journal of Economics (2002)
61. War and Democracy
    CESifo Working Paper Series, CESifo View citations (2)
    See also Journal Article in Journal of Political Economy (2001)

1998

62. Monetary policy evaluation with noisy information
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (109)
    See also Journal Article in Journal of Monetary Economics (2003)
63. Monetary policy rules based on real-time data
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (71)
    See also Journal Article in American Economic Review (2001)
64. P* revisited: money-based inflation forecasts with a changing equilibrium velocity
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (18)
    See also Journal Article in Journal of Economics and Business (2000)

1997

65. An investigation into the magnitude of foreign conflicts
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (1)

1994

66. Estimating the interest rate sensitivity of liquid retail deposit values
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (6)
    Also in Proceedings, Federal Reserve Bank of Chicago (1994) View citations (1)
67. Leverage as a State Variable for Employment, Inventory Accumulation, andFixed Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1994) View citations (22)
68. Optimal reform postponement
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
    See also Journal Article in Economics Letters (1996)
69. Taxation and intergenerational transfers with family size heterogeneity: do parents with more children prefer higher taxes?
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
    See also Journal Article in Journal of Money, Credit and Banking (1996)

1993

70. Optimal consumption dynamics with non-concave habit forming utility
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
    See also Journal Article in Economics Letters (1994)
71. The empirical properties of a monetary aggregates that adds bond and stock funds to M2
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Proceedings (1994)

1992

72. Labor hoarding when unemployment is a worker discipline device
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
73. Rational addiction with learning and regret
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
    See also Journal Article in Journal of Political Economy (1995)
74. The timing of stabilizations
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Journal of Economic Dynamics and Control (1996)

Journal Articles

2021

1. The Power of Central Bank Balance Sheets
   Monetary and Economic Studies, 2021, 39, 35-54 View citations (3)
   See also Working Paper (2021)

2020

2. The fiscal–monetary policy mix in the euro area: challenges at the zero lower bound
   Economic Policy, 2020, 35, (103), 461-517
   See also Working Paper (2017)
3. The term structure and inflation uncertainty
   Journal of Financial Economics, 2020, 138, (2), 388-414 View citations (3)
   See also Working Paper (2016)

2018

4. Independent Central Banks and the Interplay between Monetary and Fiscal Policy
   International Journal of Central Banking, 2018, 14, (3), 447-470 View citations (7)
5. The Boundaries of Central Bank Independence: Lessons from Unconventional Times Keynote Speech by Athanasios Orphanides
   Monetary and Economic Studies, 2018, 36, 35-56 View citations (1)

2015

6. Fear of Liftoff: Uncertainty, Rules, and Discretion in Monetary Policy Normalization
   Review, 2015, 97, (3) View citations (5)
   See also Working Paper (2015)
7. The Euro Area Crisis Five Years After the Original Sin
   Credit and Capital Markets, 2015, 48, (4), 535-565 View citations (9)

2014

8. Are rules and boundaries sufficient to limit harmful central bank discretion? Lessons from Europe
   Journal of Economic Dynamics and Control, 2014, 49, (C), 121-125 View citations (5)
   See also Working Paper (2014)
9. The Euro Area Crisis: Politics over Economics
   Atlantic Economic Journal, 2014, 42, (3), 243-263 View citations (10)
   See also Working Paper (2014)
10. The Need for a Price Stability Mandate
    Cato Journal, 2014, 34, (2), 265-279 View citations (6)

2013

11. Complexity and Monetary Policy
    International Journal of Central Banking, 2013, 9, (1), 167-204 View citations (48)
    See also Working Paper (2012)
12. The Reform of October 1979: How It Happened and Why
    Review, 2013, (Nov), 487-542
    Also in Review, 2005, 87, (Mar), 187-236 (2005) View citations (14)
    See also Working Paper (2005)

2012

13. Commentary: the United States labor market: status quio pr a new normal?
    Proceedings - Economic Policy Symposium - Jackson Hole, 2012, 453-462
14. Evolving macroeconomic perceptions and the term structure of interest rates
    Journal of Economic Dynamics and Control, 2012, 36, (2), 239-254 View citations (25)
    See also Working Paper (2010)
15. Term Structure Estimation with Survey Data on Interest Rate Forecasts
    Journal of Financial and Quantitative Analysis, 2012, 47, (1), 241-272 View citations (138)
    See also Working Paper (2005)
16. The Sovereign Debt Crisis in the Euro Area
    Ekonomia, 2012, 13-14, (2-1), 97-108

2011

17. Imperfect Central Bank Communication: Information versus Distraction
    International Journal of Central Banking, 2011, 7, (2), 3-39 View citations (21)
    See also Working Paper (2008)

2009

18. Recent Policy Challenges through the Lens of Economic Forecasts
    Cyprus Economic Policy Review, 2009, 3, (2), 73-79

2008

19. Economic projections and rules of thumb for monetary policy
    Review, 2008, 90, (Jul), 307-324 View citations (38)
    See also Working Paper (2008)
20. Learning, expectations formation, and the pitfalls of optimal control monetary policy
    Journal of Monetary Economics, 2008, 55, (Supplement 1), S80-S96 View citations (53)
    See also Working Paper (2008)

2007

21. Inflation targeting under imperfect knowledge
    Economic Review, 2007, 1-23 View citations (25)
    See also Working Paper (2006)
    Chapter (2007)
22. Robust monetary policy with imperfect knowledge
    Journal of Monetary Economics, 2007, 54, (5), 1406-1435 View citations (161)
    See also Working Paper (2007)
23. The bond market term premium: what is it, and how can we measure it?
    BIS Quarterly Review, 2007 View citations (47)

2006

24. A quantitative exploration of the opportunistic approach to disinflation
    Journal of Monetary Economics, 2006, 53, (8), 1877-1893 View citations (53)
    See also Working Paper (2005)
25. Monetary Policy with Imperfect Knowledge
    Journal of the European Economic Association, 2006, 4, (2-3), 366-375 View citations (74)
    See also Working Paper (2005)
26. The Road to Price Stability
    American Economic Review, 2006, 96, (2), 178-181 View citations (8)
    See also Working Paper (2006)

2005

27. Comment on: "The incredible Volcker disinflation"
    Journal of Monetary Economics, 2005, 52, (5), 1017-1023 View citations (1)
28. Expectations, learning and monetary policy
    Journal of Economic Dynamics and Control, 2005, 29, (11), 1807-1808 View citations (19)
29. Inflation scares and forecast-based monetary policy
    Review of Economic Dynamics, 2005, 8, (2), 498-527 View citations (97)
    See also Working Paper (2005)
30. Introduction
    Proceedings, 2005, 1-16
31. Real-time data and monetary policy
    The North American Journal of Economics and Finance, 2005, 16, (3), 271-276 View citations (10)
32. The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time
    Journal of Money, Credit and Banking, 2005, 37, (3), 583-601 View citations (170)
    See also Working Paper (2005)
33. The decline of activist stabilization policy: Natural rate misperceptions, learning, and expectations
    Journal of Economic Dynamics and Control, 2005, 29, (11), 1927-1950 View citations (137)
    Also in Proceedings, 2003 (2003) View citations (1)
    See also Working Paper (2005)

2004

34. Erratum to "Monetary policy in deflation: the liquidity trap in history and practice" [North Am. J. Econ. Finance 15 (1) (2004) 101-124]
    The North American Journal of Economics and Finance, 2004, 15, (2), 265-265 View citations (28)
35. Monetary Policy Rules, Macroeconomic Stability, and Inflation: A View from the Trenches
    Journal of Money, Credit and Banking, 2004, 36, (2), 151-75 View citations (239)
    See also Working Paper (2002)
36. Monetary policy in deflation: the liquidity trap in history and practice
    The North American Journal of Economics and Finance, 2004, 15, (1), 101-124 View citations (46)
    See also Working Paper (2004)
37. Price Stability and Monetary Policy Effectiveness when Nominal Interest Rates are Bounded at Zero
    The B.E. Journal of Macroeconomics, 2004, 4, (1), 1-25 View citations (138)
    See also Working Paper (2003)
38. Summary of Papers Presented at the Conference "Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley"
    Federal Reserve Bulletin, 2004, 90, (3), pp. 289-296
39. The macroeconomic consequences of terrorism
    Journal of Monetary Economics, 2004, 51, (5), 1007-1032 View citations (208)
    See also Working Paper (2004)

2003

40. Historical monetary policy analysis and the Taylor rule
    Journal of Monetary Economics, 2003, 50, (5), 983-1022 View citations (401)
    See also Working Paper (2003)
41. Monetary Policy When the Nominal Short-Term Interest Rate is Zero
    The B.E. Journal of Macroeconomics, 2003, 3, (1), 1-65 View citations (117)
    See also Working Paper (2000)
42. Monetary policy evaluation with noisy information
    Journal of Monetary Economics, 2003, 50, (3), 605-631 View citations (239)
    See also Working Paper (1998)
43. The quest for prosperity without inflation
    Journal of Monetary Economics, 2003, 50, (3), 633-663 View citations (298)
    See also Working Paper (2000)

2002

44. Comment on the Conduct of Monetary Policy with a Shrinking Stock of Government Debt
    Journal of Money, Credit and Banking, 2002, 34, (3), 883-86 View citations (1)
45. Monetary-Policy Rules and the Great Inflation
    American Economic Review, 2002, 92, (2), 115-120 View citations (233)
    See also Working Paper (2002)
46. Optimal Discretion
    Scandinavian Journal of Economics, 2002, 104, (2), 261-276 View citations (3)
    See also Working Paper (1999)
47. Robust Monetary Policy Rules with Unknown Natural Rates
    Brookings Papers on Economic Activity, 2002, 33, (2), 63-146 View citations (277)
    See also Working Paper (2003)
48. The Opportunistic Approach to Disinflation
    International Finance, 2002, 5, (1), 47-71 View citations (151)
    See also Working Paper (2019)
49. The Unreliability of Output-Gap Estimates in Real Time
    The Review of Economics and Statistics, 2002, 84, (4), 569-583 View citations (648)
    See also Working Paper (2001)

2001

50. Economic conditions, elections, and the magnitude of foreign conflicts
    Journal of Public Economics, 2001, 80, (1), 121-140 View citations (17)
51. Expectations, open market operations, and changes in the federal funds rate (commentary)
    Review, 2001, 83, (Jul), 33-58 View citations (3)
52. Monetary Policy Rules Based on Real-Time Data
    American Economic Review, 2001, 91, (4), 964-985 View citations (1068)
    See also Working Paper (1998)
53. War and Democracy
    Journal of Political Economy, 2001, 109, (4), 776-810 View citations (56)
    See also Working Paper (1999)

2000

54. Efficient Monetary Policy Design near Price Stability
    Journal of the Japanese and International Economies, 2000, 14, (4), 327-365 View citations (143)
    See also Working Paper (1999)
55. Errors in the measurement of the output gap and the design of monetary policy
    Journal of Economics and Business, 2000, 52, (1-2), 117-141 View citations (183)
    See also Working Paper (1999)
56. Inflation zone targeting
    European Economic Review, 2000, 44, (7), 1351-1387 View citations (137)
    See also Working Paper (1999)
57. P revisited: money-based inflation forecasts with a changing equilibrium velocity
    Journal of Economics and Business, 2000, 52, (1-2), 87-100 View citations (56)
    See also Working Paper (1998)

1999

58. Inflation, Volatility and Growth
    International Finance, 1999, 2, (1), 117-138 View citations (78)
    See also Working Paper (2019)

1998

59. Myopia and Addictive Behaviour
    Economic Journal, 1998, 108, (446), 75-91 View citations (29)

1996

60. Optimal reform postponement
    Economics Letters, 1996, 52, (3), 299-307 View citations (3)
    See also Working Paper (1994)
61. Taxation and Intergenerational Transfers with Family-Size Heterogeneity: Do Parents with More Children Prefer Higher Taxes?
    Journal of Money, Credit and Banking, 1996, 28, (2), 162-77 View citations (1)
    See also Working Paper (1994)
62. The timing of stabilizations
    Journal of Economic Dynamics and Control, 1996, 20, (1-3), 257-279 View citations (12)
    See also Working Paper (1992)

1995

63. Rational Addiction with Learning and Regret
    Journal of Political Economy, 1995, 103, (4), 739-58 View citations (162)
    See also Working Paper (1992)
64. War Politics: An Economic, Rational-Voter Framework
    American Economic Review, 1995, 85, (4), 828-46 View citations (104)

1994

65. Optimal consumption dynamics with non-concave habit-forming utility
    Economics Letters, 1994, 44, (1-2), 67-72 View citations (9)
    See also Working Paper (1993)
66. The empirical properties of a monetary aggregate that adds bond and stock funds to M2
    Proceedings, 1994, (Nov), 31-51 View citations (6)
    Also in Review, 1994, (Nov), 31-51 (1994) View citations (6)
    See also Working Paper (1993)

Books

2017

1. New Challenges in Central Banking:Monetary Policy Governance and Macroprudential Issues
   SUERF Studies, SUERF - The European Money and Finance Forum

2013

2. The Great Inflation: The Rebirth of Modern Central Banking
   NBER Books, National Bureau of Economic Research, Inc View citations (94)

2012

3. New Paradigms in Monetary Theory and Policy?
   SUERF Studies, SUERF - The European Money and Finance Forum View citations (3)

Edited books

2016

1. The Cyprus Bail-in:Policy Lessons from the Cyprus Economic Crisis
   World Scientific Books, World Scientific Publishing Co. Pte. Ltd.

2013

2. The Great Inflation
   National Bureau of Economic Research Books, University of Chicago Press View citations (57)

Chapters

2019

1. Trust and cohesion in Europe: lessons from the Delian League
   Chapter 7 in How to Finance Cohesion in Europe?, 2019, pp 72-79

2016

2. What Happened in Cyprus? The Economic Consequences of the Last Communist Government in Europe
   Chapter 5 in THE CYPRUS BAIL-IN POLICY LESSONS FROM THE CYPRUS ECONOMIC CRISIS, 2016, pp 163-207 View citations (6)
   See also Working Paper (2014)

2013

3. European crisis and its implications for global inflation dynamics
   A chapter in Globalisation and inflation dynamics in Asia and the Pacific, 2013, vol. 70, pp 131-135
4. Introduction to "The Great Inflation: The Rebirth of Modern Central Banking"
   A chapter in The Great Inflation: The Rebirth of Modern Central Banking, 2013, pp 1-22 View citations (17)
5. Monetary Policy Mistakes and the Evolution of Inflation Expectations
   A chapter in The Great Inflation: The Rebirth of Modern Central Banking, 2013, pp 255-288 View citations (11)
   See also Working Paper (2011)

2011

6. Dealing with Crises in a Globalized World: Challenges and Solutions
   Chapter 21 in The International Financial Crisis Have the Rules of Finance Changed?, 2011, pp 305-314
7. Monetary Policy Lessons from the Crisis
   Chapter 2 in Handbook of Central Banking, Financial Regulation and Supervision, 2011 View citations (2)
   See also Working Paper (2010)

2009

8. Imperfect Knowledge and the Pitfalls of Optimal Control Monetary Policy
   Chapter 4 in Monetary Policy under Uncertainty and Learning, 2009, vol. 13, pp 115-144 View citations (12)
   See also Working Paper (2008)

2008

9. Preparing for the Euro – Perspectives from the Monetary Policy Strategy in Cyprus
   Chapter 18 in Currency and Competitiveness in Europe, 2008

2007

10. Inflation Targeting under Imperfect Knowledge
    Chapter 4 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 077-123 View citations (41)
    See also Journal Article in Economic Review (2007)
    Working Paper (2006)

2004

11. Imperfect Knowledge, Inflation Expectations, and Monetary Policy
    A chapter in The Inflation-Targeting Debate, 2004 View citations (83)
    See also Working Paper (2003)

1990

12. Money, inflation and growth
    Chapter 06 in Handbook of Monetary Economics, 1990, vol. 1, pp 223-261 View citations (110)