Details about Francisco J. Ruge-Murcia

Homepage:	https://sites.google.com/site/frugemurcia/
Postal address:	McGill University Department of Economics Leacock Building, Room 443 855 Sherbrooke Street West Montreal, Quebec, H3A 2T7
Workplace:	Department of Economics, McGill University, (more information at EDIRC) Centre Interuniversitaire de Recherche en Économie Quantitative (CIREQ) (Center for Interuniversity Research in Quantitative Economics), (more information at EDIRC)

Access statistics for papers by Francisco J. Ruge-Murcia.

Last updated 2024-12-06. Update your information in the RePEc Author Service.

Short-id: pru3

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Working Papers

2024

1. The Relationship Between Inflation and the Distribution of Relative Price Changes
   Working Paper, Federal Reserve Bank of Richmond

2022

2. Relative Price Shocks and Inflation
   Working Paper, Federal Reserve Bank of Richmond View citations (3)

2021

3. Tariffs and the Exchange Rate: Evidence from Twitter
   Staff Working Papers, Bank of Canada View citations (1)
   Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2020) View citations (1)
   See also Journal Article Tariffs and the Exchange Rate: Evidence from Twitter, IMF Economic Review, Palgrave Macmillan (2024) (2024)

2020

4. The Power of the Federal Reserve Chair
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
   Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2020) View citations (2)

2018

5. Asset Prices in a Small Production Network
   Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (1)
6. Deliberation in Committees: Theory and Evidence from the FOMC
   Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (1)
7. Extreme events and optimal monetary policy
   Bank of Finland Research Discussion Papers, Bank of Finland
   Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2016) View citations (1)
   2017 Meeting Papers, Society for Economic Dynamics (2017)
   See also Journal Article EXTREME EVENTS AND OPTIMAL MONETARY POLICY, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2019) View citations (5) (2019)

2016

8. Collective Versus Individual Decisionmaking: A Case Study of the Bank of Israel Law
   Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ
   See also Journal Article Collective versus individual Decision-Making: A case study of the Bank of Israel Law, European Economic Review, Elsevier (2017) View citations (14) (2017)

2014

9. Indirect Inference Estimation of Nonlinear Dynamic General Equilibrium Models: With an Application to Asset Pricing under Skewness Risk
   Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (7)

2012

10. Skewness Risk and Bond Prices
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (1)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2012) View citations (1)
    See also Journal Article Skewness Risk and Bond Prices, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2017) View citations (13) (2017)

2011

11. Dissent in Monetary Policy Decisions
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (4)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2011) View citations (4)
    Working Paper series, Rimini Centre for Economic Analysis (2011) View citations (6)
    See also Journal Article Dissent in monetary policy decisions, Journal of Monetary Economics, Elsevier (2014) View citations (44) (2014)
12. Estimating Nonlinear DSGE Models by the Simulated Method of Moments
    2011 Meeting Papers, Society for Economic Dynamics
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2010) View citations (9)
    Working Paper series, Rimini Centre for Economic Analysis (2010) View citations (11)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2010) View citations (11)

2010

13. Factor Analysis of a Large DSGE Model
    Working Paper series, Rimini Centre for Economic Analysis
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2010)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2010)
    See also Journal Article FACTOR ANALYSIS OF A LARGE DSGE MODEL, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2013) View citations (2) (2013)

2009

14. Do Inflation-Targeting Central Banks Implicitly Target the Price Level?
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (8)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2009) View citations (8)
    See also Journal Article Do Inflation-Targeting Central Banks Implicitly Target the Price Level?, International Journal of Central Banking, International Journal of Central Banking (2014) View citations (14) (2014)
15. Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (1)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2009) View citations (1)
    See also Journal Article Monetary policy when wages are downwardly rigid: Friedman meets Tobin, Journal of Economic Dynamics and Control, Elsevier (2011) View citations (29) (2011)
16. Sectoral Price Rigidity and Aggregate Dynamics
    Cahiers de recherche, CIRPEE View citations (15)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2009) View citations (12)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2009) View citations (17)
    See also Journal Article Sectoral price rigidity and aggregate dynamics, European Economic Review, Elsevier (2014) View citations (42) (2014)

2008

17. Durable Goods, Inter-Sectoral Linkages and Monetary Policy
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (4)
    Also in Cahiers de recherche, CIRPEE (2008) View citations (8)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2008) View citations (4)
    See also Journal Article Durable goods, inter-sectoral linkages and monetary policy, Journal of Economic Dynamics and Control, Elsevier (2011) View citations (23) (2011)
18. Monetary Policy by Committee: Consensus, Chairman Dominance or Simple Majority?
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (26)
    Also in 2008 Meeting Papers, Society for Economic Dynamics (2008) View citations (1)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2008) View citations (2)
    See also Journal Article Monetary Policy by Committee: Consensus, Chairman Dominance, or Simple Majority?, The Quarterly Journal of Economics, President and Fellows of Harvard College (2010) View citations (115) (2010)

2007

19. How Much Inflation is Necessary to Grease the Wheels?
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (6)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2007) View citations (6)
    See also Journal Article How much inflation is necessary to grease the wheels?, Journal of Monetary Economics, Elsevier (2009) View citations (146) (2009)
20. Preference Heterogeneity in Monetary Policy Committees
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (6)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2007) View citations (22)
    See also Journal Article Preference Heterogeneity in Monetary Policy Committees, International Journal of Central Banking, International Journal of Central Banking (2008) View citations (37) (2008)

2006

21. The Dynamic (In)efficiency of Monetary Policy by Committee
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (11)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2006) View citations (2)
    2006 Meeting Papers, Society for Economic Dynamics (2006) View citations (15)
    See also Journal Article The Dynamic (In)Efficiency of Monetary Policy by Committee, Journal of Money, Credit and Banking, Blackwell Publishing (2008) View citations (29) (2008)

2005

22. The Transmission of Monetary Policy in a Multi-Sector Economy
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (26)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2005) View citations (25)
    See also Journal Article THE TRANSMISSION OF MONETARY POLICY IN A MULTISECTOR ECONOMY, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2009) View citations (86) (2009)

2004

23. Methods to Estimate Dynamic Stochastic General Equilibrium Models
    2004 Meeting Papers, Society for Economic Dynamics View citations (1)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2003) View citations (38)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2003) View citations (21)
    University of California at San Diego, Economics Working Paper Series, Department of Economics, UC San Diego (2002) View citations (9)
    See also Journal Article Methods to estimate dynamic stochastic general equilibrium models, Journal of Economic Dynamics and Control, Elsevier (2007) View citations (153) (2007)

2003

24. Explaining the Transition Between Exchange Rate Regimes
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (9)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2003) View citations (9)
    See also Journal Article Explaining the Transition between Exchange Rate Regimes, Scandinavian Journal of Economics, Wiley Blackwell (2005) View citations (20) (2005)
25. Nonlinear Monetary Policy Rules: Some New Evidence for the U.S
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (21)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (37)
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2002) View citations (22)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2003) View citations (9)
    See also Journal Article Nonlinear Monetary Policy Rules: Some New Evidence for the U.S, Studies in Nonlinear Dynamics & Econometrics, De Gruyter (2004) View citations (93) (2004)

2002

26. Does the Barro-Gordon Model Explain the Behavior of US Inflation? a Reexamination of the Empirical Evidence
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (26)
    See also Journal Article Does the Barro-Gordon model explain the behavior of US inflation? A reexamination of the empirical evidence, Journal of Monetary Economics, Elsevier (2003) View citations (65) (2003)
27. Habit Formation and the Persistence of Monetary Shocks
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (10)
    Also in Staff Working Papers, Bank of Canada (2002) View citations (9)
    See also Journal Article Habit formation and the persistence of monetary shocks, Journal of Monetary Economics, Elsevier (2005) View citations (81) (2005)
28. Some Implications of the Zero Lower Bound on Interest Rates for the Term Structure and Monetary Policy
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (6)

2001

29. A Prudent Central Banker
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (11)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2001) View citations (3)
    See also Journal Article A Prudent Central Banker, IMF Staff Papers, Palgrave Macmillan (2002) View citations (15) (2002)
30. Inflation Targeting Under Asymmetric Preferences
    Working Papers, Banco de España View citations (11)
    Also in IMF Working Papers, International Monetary Fund (2001) View citations (24)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2001) View citations (11)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2001) View citations (16)
    See also Journal Article Inflation Targeting under Asymmetric Preferences, Journal of Money, Credit and Banking, Blackwell Publishing (2003) View citations (96) (2003)
31. The Inflation Bias When the Central Bank Targets, the Natural Rate of Unemployment
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (11)
    See also Journal Article The inflation bias when the central bank targets the natural rate of unemployment, European Economic Review, Elsevier (2004) View citations (76) (2004)

1999

32. Distortionary Taxation and Labor Supply: Evidence from Canada
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques

1998

33. Uncovering Financial Markets Beliefs About Inflation Targets
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ View citations (4)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1998) View citations (3)
    See also Journal Article Uncovering financial markets' beliefs about inflation targets, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2000) View citations (19) (2000)

1997

34. Credibility and Signaling in Disinflation- a Cross Country Examination
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques
35. Explaining the Persistence of Commodity Prices
    Boston College Working Papers in Economics, Boston College Department of Economics View citations (5)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1997) View citations (5)
    See also Journal Article Explaining the Persistence of Commodity Prices, Computational Economics, Springer (2000) View citations (25) (2000)
36. Heterodox Inflation Stabilization in Argentina, Brazil, and Israel. A Historical Review and Some Stylized Facts
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (1)

1996

37. Limited-dependent rational expectations models with jumps
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis View citations (4)

1995

38. A Discrete-Time Version of Target Zone Models with Jumps
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (4)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (1995) View citations (5)
    Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge (1995) View citations (4)
39. Government Expenditure and the Dynamics of High Inflation
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques View citations (3)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (1995) View citations (3)
    See also Journal Article Government expenditure and the dynamics of high inflation, Journal of Development Economics, Elsevier (1999) View citations (15) (1999)

Journal Articles

2024

1. A Model-Based Perspective on Inflation and the Distribution of Relative Price Changes
   Richmond Fed Economic Brief, 2024, 24, (30)
2. Asset prices in a production network
   European Economic Review, 2024, 166, (C)
3. Tariffs and the Exchange Rate: Evidence from Twitter
   IMF Economic Review, 2024, 72, (3), 1185-1211
   See also Working Paper Tariffs and the Exchange Rate: Evidence from Twitter, Staff Working Papers (2021) View citations (1) (2021)

2022

4. How do central banks make decisions?
   Canadian Journal of Economics/Revue canadienne d'économique, 2022, 55, (4), 1643-1670

2020

5. Estimating nonlinear dynamic equilibrium models by matching impulse responses
   Economics Letters, 2020, 197, (C) View citations (2)

2019

6. EXTREME EVENTS AND OPTIMAL MONETARY POLICY
   International Economic Review, 2019, 60, (2), 939-963 View citations (5)
   See also Working Paper Extreme events and optimal monetary policy, Bank of Finland Research Discussion Papers (2018) (2018)
7. Mind-changes at the FOMC
   Economics Letters, 2019, 184, (C) View citations (1)

2018

8. Editors introduction: The renewal of the Canadian inflation-control target
   Canadian Journal of Economics, 2018, 51, (3), 799-801
   Also in Canadian Journal of Economics/Revue canadienne d'économique, 2018, 51, (3), 799-801 (2018)

2017

9. Canadian inflation targeting
   Canadian Journal of Economics, 2017, 50, (5), 1556-1572 View citations (9)
   Also in Canadian Journal of Economics/Revue canadienne d'économique, 2017, 50, (5), 1556-1572 (2017) View citations (8)
10. Collective versus individual Decision-Making: A case study of the Bank of Israel Law
    European Economic Review, 2017, 93, (C), 73-89 View citations (14)
    See also Working Paper Collective Versus Individual Decisionmaking: A Case Study of the Bank of Israel Law, Cahiers de recherche (2016) (2016)
11. Skewness Risk and Bond Prices
    Journal of Applied Econometrics, 2017, 32, (2), 379-400 View citations (13)
    See also Working Paper Skewness Risk and Bond Prices, Cahiers de recherche (2012) View citations (1) (2012)

2014

12. Dissent in monetary policy decisions
    Journal of Monetary Economics, 2014, 66, (C), 137-154 View citations (44)
    See also Working Paper Dissent in Monetary Policy Decisions, Cahiers de recherche (2011) View citations (4) (2011)
13. Do Inflation-Targeting Central Banks Implicitly Target the Price Level?
    International Journal of Central Banking, 2014, 10, (2), 301-326 View citations (14)
    See also Working Paper Do Inflation-Targeting Central Banks Implicitly Target the Price Level?, Cahiers de recherche (2009) View citations (8) (2009)
14. Sectoral price rigidity and aggregate dynamics
    European Economic Review, 2014, 65, (C), 1-22 View citations (42)
    See also Working Paper Sectoral Price Rigidity and Aggregate Dynamics, Cahiers de recherche (2009) View citations (15) (2009)

2013

15. FACTOR ANALYSIS OF A LARGE DSGE MODEL
    Journal of Applied Econometrics, 2013, 28, (6), 903-928 View citations (2)
    See also Working Paper Factor Analysis of a Large DSGE Model, Working Paper series (2010) (2010)

2012

16. Estimating nonlinear DSGE models by the simulated method of moments: With an application to business cycles
    Journal of Economic Dynamics and Control, 2012, 36, (6), 914-938 View citations (91)

2011

17. Durable goods, inter-sectoral linkages and monetary policy
    Journal of Economic Dynamics and Control, 2011, 35, (5), 730-745 View citations (23)
    See also Working Paper Durable Goods, Inter-Sectoral Linkages and Monetary Policy, Cahiers de recherche (2008) View citations (4) (2008)
18. Monetary policy when wages are downwardly rigid: Friedman meets Tobin
    Journal of Economic Dynamics and Control, 2011, 35, (12), 2064-2077 View citations (29)
    See also Working Paper Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin, Cahiers de recherche (2009) View citations (1) (2009)

2010

19. Monetary Policy by Committee: Consensus, Chairman Dominance, or Simple Majority?
    The Quarterly Journal of Economics, 2010, 125, (1), 363-416 View citations (115)
    See also Working Paper Monetary Policy by Committee: Consensus, Chairman Dominance or Simple Majority?, Cahiers de recherche (2008) View citations (26) (2008)

2009

20. How much inflation is necessary to grease the wheels?
    Journal of Monetary Economics, 2009, 56, (3), 365-377 View citations (146)
    See also Working Paper How Much Inflation is Necessary to Grease the Wheels?, Cahiers de recherche (2007) View citations (6) (2007)
21. THE TRANSMISSION OF MONETARY POLICY IN A MULTISECTOR ECONOMY
    International Economic Review, 2009, 50, (4), 1243-1266 View citations (86)
    See also Working Paper The Transmission of Monetary Policy in a Multi-Sector Economy, Cahiers de recherche (2005) View citations (26) (2005)

2008

22. Preference Heterogeneity in Monetary Policy Committees
    International Journal of Central Banking, 2008, 4, (1), 213-233 View citations (37)
    See also Working Paper Preference Heterogeneity in Monetary Policy Committees, Cahiers de recherche (2007) View citations (6) (2007)
23. The Dynamic (In)Efficiency of Monetary Policy by Committee
    Journal of Money, Credit and Banking, 2008, 40, (5), 1001-1032 View citations (29)
    Also in Journal of Money, Credit and Banking, 2008, 40, (5), 1001-1032 (2008) View citations (10)
    See also Working Paper The Dynamic (In)efficiency of Monetary Policy by Committee, Cahiers de recherche (2006) View citations (11) (2006)

2007

24. Methods to estimate dynamic stochastic general equilibrium models
    Journal of Economic Dynamics and Control, 2007, 31, (8), 2599-2636 View citations (153)
    See also Working Paper Methods to Estimate Dynamic Stochastic General Equilibrium Models, 2004 Meeting Papers (2004) View citations (1) (2004)

2006

25. The expectations hypothesis of the term structure when interest rates are close to zero
    Journal of Monetary Economics, 2006, 53, (7), 1409-1424 View citations (25)

2005

26. Explaining the Transition between Exchange Rate Regimes
    Scandinavian Journal of Economics, 2005, 107, (2), 261-278 View citations (20)
    See also Working Paper Explaining the Transition Between Exchange Rate Regimes, Cahiers de recherche (2003) View citations (9) (2003)
27. Habit formation and the persistence of monetary shocks
    Journal of Monetary Economics, 2005, 52, (6), 1073-1088 View citations (81)
    See also Working Paper Habit Formation and the Persistence of Monetary Shocks, Cahiers de recherche (2002) View citations (10) (2002)

2004

28. Nonlinear Monetary Policy Rules: Some New Evidence for the U.S
    Studies in Nonlinear Dynamics & Econometrics, 2004, 8, (3), 34 View citations (93)
    See also Working Paper Nonlinear Monetary Policy Rules: Some New Evidence for the U.S, Cahiers de recherche (2003) View citations (21) (2003)
29. The inflation bias when the central bank targets the natural rate of unemployment
    European Economic Review, 2004, 48, (1), 91-107 View citations (76)
    See also Working Paper The Inflation Bias When the Central Bank Targets, the Natural Rate of Unemployment, Cahiers de recherche (2001) View citations (11) (2001)

2003

30. Distortionary Taxation and Labor Supply
    Journal of Money, Credit and Banking, 2003, 35, (3), 350-73 View citations (29)
31. Does the Barro-Gordon model explain the behavior of US inflation? A reexamination of the empirical evidence
    Journal of Monetary Economics, 2003, 50, (6), 1375-1390 View citations (65)
    See also Working Paper Does the Barro-Gordon Model Explain the Behavior of US Inflation? a Reexamination of the Empirical Evidence, Cahiers de recherche (2002) View citations (26) (2002)
32. Inflation Targeting under Asymmetric Preferences
    Journal of Money, Credit and Banking, 2003, 35, (5), 763-85 View citations (96)
    See also Working Paper Inflation Targeting Under Asymmetric Preferences, Working Papers (2001) View citations (11) (2001)

2002

33. A Prudent Central Banker
    IMF Staff Papers, 2002, 49, (3), 7 View citations (15)
    See also Working Paper A Prudent Central Banker, Cahiers de recherche (2001) View citations (11) (2001)

2000

34. Explaining the Persistence of Commodity Prices
    Computational Economics, 2000, 16, (1/2), 149-171 View citations (25)
    See also Working Paper Explaining the Persistence of Commodity Prices, Boston College Working Papers in Economics (1997) View citations (5) (1997)
35. The effects of learning and signaling on money demand: With an application to heterodox inflation stabilization programs
    Empirical Economics, 2000, 25, (1), 61-91 View citations (1)
36. Uncovering financial markets' beliefs about inflation targets
    Journal of Applied Econometrics, 2000, 15, (5), 483-512 View citations (19)
    See also Working Paper Uncovering Financial Markets Beliefs About Inflation Targets, Cahiers de recherche (1998) View citations (4) (1998)

1999

37. Analysis of Exchange-Rate Target Zones Using a Limited-Dependent Rational-Expectations Model with Jumps
    Journal of Business & Economic Statistics, 1999, 17, (1), 50-66 View citations (13)
38. Government expenditure and the dynamics of high inflation
    Journal of Development Economics, 1999, 58, (2), 333-358 View citations (15)
    See also Working Paper Government Expenditure and the Dynamics of High Inflation, Cahiers de recherche (1995) View citations (3) (1995)

1996

39. Limited-dependent rational expectations models with stochastic thresholds
    Economics Letters, 1996, 51, (3), 267-276 View citations (11)

1995

40. Credibility and Changes in Policy Regime
    Journal of Political Economy, 1995, 103, (1), 176-208 View citations (33)

Books

2016

1. Central banking and monetary policy: Which will be the post-crisis new normal? Abstract: Central Bankers are currently facing big challenges in designing and implementing monetary policy, as well as with safeguarding financial stability, with the world economy still in the process of digesting the legacy of the crisis. The crisis has changed central banking in many ways: by shifting the focus of monetary policy from fighting too high inflation towards fighting too low inflation; by prompting new ‘experimental’ non-conventional measures, which risk to cause large, long-lasting market distortions and imbalances and which also have more far-reaching distributional consequences than ‘normal, conventional’ monetary policy; and by broadening central banks’ responsibilities particularly in the direction of safeguarding banking stability and financial stability at large. This raises several questions for the future: How long will ultra-easy monetary policies last? What are post-crisis growth trajectories, and how will the natural rate of interest rates evolve? How could an exit from ultra-easy monetary policy and a return towards higher nominal interest rates be eventually managed smoothly? Does ultra-easy monetary policy itself affect the economy in a lasting and structural way? Is the pre-crisis economic paradigm governing monetary policy still valid? If not, in what ways should it be adjusted? Are there any reasonable and practical alternatives? Against this background and given the larger post-crisis range of central banks’ responsibilities: is the current institutionalset-up governing central banks and their relationship to government, Parliament and the financial system still appropriate? What adaptations might be considered? Would they bring an improvement or, on the contrary, a set-back to the unsuccessful policy approaches of the 1960s and 1970s?
   SUERF Studies, SUERF - The European Money and Finance Forum View citations (2)
2. The SSM at 1
   SUERF Studies, SUERF - The European Money and Finance Forum View citations (2)

Chapters

2013

1. Generalized Method of Moments estimation of DSGE models
   Chapter 20 in Handbook of Research Methods and Applications in Empirical Macroeconomics, 2013, pp 464-485 View citations (1)