Details about Bruce Preston

Access statistics for papers by Bruce Preston.

Last updated 2024-07-04. Update your information in the RePEc Author Service.

Short-id: ppr134

Working Papers

2023

1. A Short History in Defence of Adaptive Learning
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University
2. Recovery of 1933
   Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (18)

2022

3. Monetary policy trade-offs at the zero lower bound
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (2)
4. Overview
   RBA Annual Conference Papers, Reserve Bank of Australia

2021

5. Forward guidance with unanchored expectations
   Bank of Finland Research Discussion Papers, Bank of Finland View citations (1)
6. Online Appendix to "Non-Rational Beliefs in an Open Economy"
   Online Appendices, Review of Economic Dynamics
   See also Journal Article Non-Rational Beliefs in an Open Economy, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) View citations (1) (2021)
7. The Term Structure of Expectations
   Staff Reports, Federal Reserve Bank of New York View citations (2)

2020

8. Anchored inflation expectations
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (9)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (14)
   See also Journal Article Anchored Inflation Expectations, American Economic Journal: Macroeconomics, American Economic Association (2023) View citations (24) (2023)
9. The case for reform of the RBA's policy and communication strategy
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

2017

10. Fiscal foundations of inflation: Imperfect knowledge
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (4)
    Also in Staff Reports, Federal Reserve Bank of New York (2013) View citations (8)
    See also Journal Article Fiscal Foundations of Inflation: Imperfect Knowledge, American Economic Review, American Economic Association (2018) View citations (31) (2018)
11. Some implications of learning for price stability
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (1)
    See also Journal Article Some implications of learning for price stability, European Economic Review, Elsevier (2018) View citations (6) (2018)

2016

12. The science of monetary policy: an imperfect knowledge perspective
    Staff Reports, Federal Reserve Bank of New York View citations (5)
    Also in CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2016) View citations (10)
    See also Journal Article The Science of Monetary Policy: An Imperfect Knowledge Perspective, Journal of Economic Literature, American Economic Association (2018) View citations (77) (2018)

2015

13. What drives long-run inflation expectations?
    2015 Meeting Papers, Society for Economic Dynamics

2014

14. The Limits of Monetary Policy Under Imperfect Knowledge
    2014 Meeting Papers, Society for Economic Dynamics

2012

15. Long-Term Debt Pricing and Monetary Policy Transmission under Imperfect Knowledge
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
    Also in Staff Reports, Federal Reserve Bank of New York (2012) View citations (3)

2011

16. Learning the fiscal theory of the price level: some consequences of debt management policy
    Staff Reports, Federal Reserve Bank of New York View citations (17)
    See also Chapter Learning the Fiscal Theory of the Price Level: Some Consequences of Debt-Management Policy, NBER Chapters, National Bureau of Economic Research, Inc (2010) (2010)
    Journal Article Learning the fiscal theory of the price level: Some consequences of debt-management policy, Journal of the Japanese and International Economies, Elsevier (2011) View citations (19) (2011)
17. The maturity structure of debt, monetary policy and expectations stabilization
    2011 Meeting Papers, Society for Economic Dynamics View citations (8)

2010

18. Debt, Policy Uncertainty and Expectations Stabilization
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (5)
    See also Journal Article DEBT, POLICY UNCERTAINTY, AND EXPECTATIONS STABILIZATION, Journal of the European Economic Association, European Economic Association (2012) View citations (22) (2012)

2009

19. Can structural small open economy models account for the influence of foreign disturbances?
    Working Paper Series, Federal Reserve Bank of Chicago View citations (3)
    Also in 2006 Meeting Papers, Society for Economic Dynamics (2006) View citations (39)
    NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (10)
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2006) View citations (43)
    See also Journal Article Can structural small open-economy models account for the influence of foreign disturbances?, Journal of International Economics, Elsevier (2010) View citations (214) (2010)
20. Comovement in Business Cycle Models: the Role of Nonseparable Preferences and Labor Market Participation
    2009 Meeting Papers, Society for Economic Dynamics
21. Consumption heterogeneity, employment dynamics, and macroeconomic co-movement
    Staff Reports, Federal Reserve Bank of New York View citations (10)
    See also Journal Article Consumption heterogeneity, employment dynamics and macroeconomic co-movement, Journal of Monetary Economics, Elsevier (2015) View citations (15) (2015)
22. Labor Supply Heterogeneity and Macroeconomic Co-movement
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
23. Monetary policy and uncertainty in an empirical small open economy model
    Working Paper Series, Federal Reserve Bank of Chicago View citations (14)
    See also Journal Article Monetary policy and uncertainty in an empirical small open-economy model, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2010) View citations (242) (2010)

2008

24. Bayesian Averaging, Prediction and Nonnested Model Selection
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article Bayesian averaging, prediction and nonnested model selection, Journal of Econometrics, Elsevier (2012) View citations (16) (2012)
25. EXPECTATIONS, LEARNING AND BUSINESS CYCLE FLUCTUATIONS
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (15)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (26)
    See also Journal Article Expectations, Learning, and Business Cycle Fluctuations, American Economic Review, American Economic Association (2011) View citations (176) (2011)
26. Stabilizing Expectations under Monetary and Fiscal Policy Coordination
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in Staff Reports, Federal Reserve Bank of New York (2008) View citations (3)

2007

27. Adaptive Learning as a Propagation Mechanism
    2007 Meeting Papers, Society for Economic Dynamics
28. Central Bank Communication and Expectations Stabilization
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
    See also Journal Article Central Bank Communication and Expectations Stabilization, American Economic Journal: Macroeconomics, American Economic Association (2010) View citations (127) (2010)
29. Incomplete Markets, Heterogeneity and Macroeconomic Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)

2006

30. Foreign shock transmission in small open economies
    Computing in Economics and Finance 2006, Society for Computational Economics

2005

31. Learning about Monetary Policy Rules when Long-Horizon Expectations Matter
    MPRA Paper, University Library of Munich, Germany View citations (244)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2003) View citations (8)
    See also Journal Article Learning about Monetary Policy Rules when Long-Horizon Expectations Matter, International Journal of Central Banking, International Journal of Central Banking (2005) View citations (246) (2005)

2004

32. Precautionary Saving and Consumption Fluctuations
    Working Papers, Princeton University, School of Public and International Affairs, Discussion Papers in Economics View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (16)
    See also Journal Article Precautionary Saving and Consumption Fluctuations, American Economic Review, American Economic Association (2005) View citations (61) (2005)

2002

33. The Impact of Inflation and Uncertainty on the Optimum Markup Set by Firms
    Economics Working Papers, European University Institute View citations (15)
    Also in Dundee Discussion Papers in Economics, Economic Studies, University of Dundee View citations (7)

2001

34. Empirical Likelihood-Based Selection Criteria for Moment Condition Models
    Economics Working Paper Archive, The Johns Hopkins University,Department of Economics View citations (3)

1995

35. Consumption, Investment and International Linkages
    RBA Research Discussion Papers, Reserve Bank of Australia View citations (9)

Journal Articles

2023

1. Anchored Inflation Expectations
   American Economic Journal: Macroeconomics, 2023, 15, (1), 1-47 View citations (24)
   See also Working Paper Anchored inflation expectations, CAMA Working Papers (2020) View citations (9) (2020)

2021

2. Non-Rational Beliefs in an Open Economy
   Review of Economic Dynamics, 2021, 41, 174-204 View citations (1)
   See also Working Paper Online Appendix to "Non-Rational Beliefs in an Open Economy", Online Appendices (2021) (2021)
   Software Item Code and data files for "Non-Rational Beliefs in an Open Economy", Computer Codes (2021) (2021)

2020

3. Should We Worry about Government Debt? Thoughts on Australia's COVID‐19 Response
   Australian Economic Review, 2020, 53, (4), 557-565 View citations (3)
4. The Case for Reform of the Reserve Bank of Australia Policy and Communication Strategy
   Australian Economic Review, 2020, 53, (1), 95-104 View citations (1)

2018

5. Fiscal Foundations of Inflation: Imperfect Knowledge
   American Economic Review, 2018, 108, (9), 2551-89 View citations (31)
   See also Working Paper Fiscal foundations of inflation: Imperfect knowledge, CAMA Working Papers (2017) View citations (4) (2017)
6. Some implications of learning for price stability
   European Economic Review, 2018, 106, (C), 1-20 View citations (6)
   See also Working Paper Some implications of learning for price stability, CAMA Working Papers (2017) View citations (1) (2017)
7. The Science of Monetary Policy: An Imperfect Knowledge Perspective
   Journal of Economic Literature, 2018, 56, (1), 3-59 View citations (77)
   See also Working Paper The science of monetary policy: an imperfect knowledge perspective, Staff Reports (2016) View citations (5) (2016)

2015

8. Consumption heterogeneity, employment dynamics and macroeconomic co-movement
   Journal of Monetary Economics, 2015, 71, (C), 13-32 View citations (15)
   See also Working Paper Consumption heterogeneity, employment dynamics, and macroeconomic co-movement, Staff Reports (2009) View citations (10) (2009)

2012

9. Bayesian averaging, prediction and nonnested model selection
   Journal of Econometrics, 2012, 167, (2), 358-369 View citations (16)
   See also Working Paper Bayesian Averaging, Prediction and Nonnested Model Selection, NBER Working Papers (2008) View citations (6) (2008)
10. DEBT, POLICY UNCERTAINTY, AND EXPECTATIONS STABILIZATION
    Journal of the European Economic Association, 2012, 10, (4), 860-886 View citations (22)
    See also Working Paper Debt, Policy Uncertainty and Expectations Stabilization, CAMA Working Papers (2010) View citations (5) (2010)

2011

11. Expectations, Learning, and Business Cycle Fluctuations
    American Economic Review, 2011, 101, (6), 2844-72 View citations (176)
    See also Working Paper EXPECTATIONS, LEARNING AND BUSINESS CYCLE FLUCTUATIONS, CAMA Working Papers (2008) View citations (15) (2008)
12. Learning the fiscal theory of the price level: Some consequences of debt-management policy
    Journal of the Japanese and International Economies, 2011, 25, (4), 358-379 View citations (19)
    See also Chapter Learning the Fiscal Theory of the Price Level: Some Consequences of Debt-Management Policy, NBER Chapters, 2010 (2010) (2010)
    Working Paper Learning the fiscal theory of the price level: some consequences of debt management policy, Staff Reports (2011) View citations (17) (2011)

2010

13. Can structural small open-economy models account for the influence of foreign disturbances?
    Journal of International Economics, 2010, 81, (1), 61-74 View citations (214)
    See also Working Paper Can structural small open economy models account for the influence of foreign disturbances?, Working Paper Series (2009) View citations (3) (2009)
14. Central Bank Communication and Expectations Stabilization
    American Economic Journal: Macroeconomics, 2010, 2, (3), 235-71 View citations (127)
    Also in Proceedings, 2007, (March), 1-43 (2007) View citations (46)
    See also Working Paper Central Bank Communication and Expectations Stabilization, NBER Working Papers (2007) View citations (41) (2007)
15. Monetary policy and uncertainty in an empirical small open-economy model
    Journal of Applied Econometrics, 2010, 25, (1), 93-128 View citations (242)
    Also in Journal of Applied Econometrics, 2010, 25, (1), 93-128 (2010) View citations (74)
    See also Working Paper Monetary policy and uncertainty in an empirical small open economy model, Working Paper Series (2009) View citations (14) (2009)

2008

16. Adaptive learning and the use of forecasts in monetary policy
    Journal of Economic Dynamics and Control, 2008, 32, (11), 3661-3681 View citations (57)

2006

17. Adaptive learning, forecast-based instrument rules and monetary policy
    Journal of Monetary Economics, 2006, 53, (3), 507-535 View citations (120)

2005

18. Learning about Monetary Policy Rules when Long-Horizon Expectations Matter
    International Journal of Central Banking, 2005, 1, (2) View citations (246)
    See also Working Paper Learning about Monetary Policy Rules when Long-Horizon Expectations Matter, MPRA Paper (2005) View citations (244) (2005)
19. Precautionary Saving and Consumption Fluctuations
    American Economic Review, 2005, 95, (4), 1119-1143 View citations (61)
    See also Working Paper Precautionary Saving and Consumption Fluctuations, Working Papers (2004) View citations (1) (2004)

2003

20. GENERALIZED EMPIRICAL LIKELIHOOD–BASED MODEL SELECTION CRITERIA FOR MOMENT CONDITION MODELS
    Econometric Theory, 2003, 19, (6), 923-943 View citations (40)

Chapters

2018

1. Discussion of Robust Design Principles for Monetary Policy Committees
   A chapter in Central Bank Frameworks: Evolution or Revolution?, 2018

2017

2. Discussion of Is Monetary Policy Less Effective When Interest Rates Are Persistently Low?
   A chapter in Monetary Policy and Financial Stability in a World of Low Interest Rates, 2017

2013

3. Comment on "Dormant Shocks and Fiscal Virtue"
   A chapter in NBER Macroeconomics Annual 2013, Volume 28, 2013, pp 47-58

2010

4. Learning the Fiscal Theory of the Price Level: Some Consequences of Debt-Management Policy
   A chapter in Fiscal Policy and Crisis, 2010
   See also Journal Article Learning the fiscal theory of the price level: Some consequences of debt-management policy, Elsevier (2011) View citations (19) (2011)
   Working Paper Learning the fiscal theory of the price level: some consequences of debt management policy, Federal Reserve Bank of New York (2011) View citations (17) (2011)

Software Items

2021

1. Code and data files for "Non-Rational Beliefs in an Open Economy"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Non-Rational Beliefs in an Open Economy, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) View citations (1) (2021)