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Details about Francisco J. Ruge-Murcia

E-mail:
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 2020-10-24. Update your information in the RePEc Author Service.

Short-id: pru3


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Working Papers

2020

  1. The Power of the Federal Reserve Chair
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads

2018

  1. Asset Prices in a Small Production Network
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads
  2. Deliberation in Committees: Theory and Evidence from the FOMC
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (1)
  3. Extreme events and optimal monetary policy
    Research Discussion Papers, Bank of Finland Downloads
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2016) Downloads
    2017 Meeting Papers, Society for Economic Dynamics (2017) Downloads

    See also Journal Article in International Economic Review (2019)

2016

  1. Collective Versus Individual Decisionmaking: A Case Study of the Bank of Israel Law
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads
    See also Journal Article in European Economic Review (2017)

2014

  1. 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 Downloads View citations (2)

2012

  1. Skewness Risk and Bond Prices
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (1)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2012) Downloads View citations (1)

    See also Journal Article in Journal of Applied Econometrics (2017)

2011

  1. Dissent in Monetary Policy Decisions
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads
    Also in Working Paper series, Rimini Centre for Economic Analysis (2011) Downloads View citations (4)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2011) Downloads

    See also Journal Article in Journal of Monetary Economics (2014)
  2. Estimating Nonlinear DSGE Models by the Simulated Method of Moments
    2011 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2010) Downloads View citations (9)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2010) Downloads View citations (6)
    Working Paper series, Rimini Centre for Economic Analysis (2010) Downloads View citations (8)

2010

  1. Factor Analysis of a Large DSGE Model
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2010) Downloads
    Working Paper series, Rimini Centre for Economic Analysis (2010) Downloads

    See also Journal Article in Journal of Applied Econometrics (2013)

2009

  1. Do Inflation-Targeting Central Banks Implicitly Target the Price Level?
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (1)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2009) Downloads View citations (5)

    See also Journal Article in International Journal of Central Banking (2014)
  2. Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2009) Downloads View citations (1)

    See also Journal Article in Journal of Economic Dynamics and Control (2011)
  3. Sectoral Price Rigidity and Aggregate Dynamics
    Cahiers de recherche, CIRPEE Downloads View citations (10)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2009) Downloads View citations (12)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2009) Downloads View citations (5)

    See also Journal Article in European Economic Review (2014)

2008

  1. Durable Goods, Inter-Sectoral Linkages and Monetary Policy
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (1)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2008) Downloads View citations (2)
    Cahiers de recherche, CIRPEE (2008) Downloads View citations (8)

    See also Journal Article in Journal of Economic Dynamics and Control (2011)
  2. Monetary Policy by Committee: Consensus, Chairman Dominance or Simple Majority?
    2008 Meeting Papers, Society for Economic Dynamics Downloads View citations (1)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2008) Downloads View citations (25)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2008) Downloads View citations (2)

    See also Journal Article in The Quarterly Journal of Economics (2010)

2007

  1. How Much Inflation is Necessary to Grease the Wheels?
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (4)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2007) Downloads View citations (4)

    See also Journal Article in Journal of Monetary Economics (2009)
  2. Preference Heterogeneity in Monetary Policy Committees
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (5)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2007) Downloads View citations (21)
    DNB Working Papers, Netherlands Central Bank, Research Department (2007) Downloads View citations (5)

    See also Journal Article in International Journal of Central Banking (2008)

2006

  1. The Dynamic (In)efficiency of Monetary Policy by Committee
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (1)
    Also in 2006 Meeting Papers, Society for Economic Dynamics (2006) Downloads View citations (13)
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2006) Downloads View citations (11)

    See also Journal Article in Journal of Money, Credit and Banking (2008)

2005

  1. The Transmission of Monetary Policy in a Multi-Sector Economy
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (21)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2005) Downloads View citations (22)

    See also Journal Article in International Economic Review (2009)

2004

  1. Methods to Estimate Dynamic Stochastic General Equilibrium Models
    2004 Meeting Papers, Society for Economic Dynamics
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2003) Downloads View citations (38)
    University of California at San Diego, Economics Working Paper Series, Department of Economics, UC San Diego (2002) Downloads View citations (7)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2003) Downloads View citations (16)

    See also Journal Article in Journal of Economic Dynamics and Control (2007)

2003

  1. Explaining the Transition Between Exchange Rate Regimes
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (8)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2003) Downloads View citations (8)
  2. Nonlinear Monetary Policy Rules: Some New Evidence for the U.S
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ Downloads View citations (20)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (2003) Downloads View citations (9)
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía (2002) Downloads View citations (20)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) Downloads View citations (36)

    See also Journal Article in Studies in Nonlinear Dynamics & Econometrics (2004)

2002

  1. 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 Downloads View citations (26)
    See also Journal Article in Journal of Monetary Economics (2003)
  2. Habit Formation and the Persistence of Monetary Shocks
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (10)
    Also in Staff Working Papers, Bank of Canada (2002) Downloads View citations (6)

    See also Journal Article in Journal of Monetary Economics (2005)
  3. 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 Downloads View citations (3)

2001

  1. A Prudent Central Banker
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (11)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2001) View citations (3)

    See also Journal Article in IMF Staff Papers (2002)
  2. Inflation Targeting Under Asymmetric Preferences
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (14)
    Also in Working Papers, Banco de España (2001) Downloads View citations (9)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (2001) View citations (9)

    See also Journal Article in Journal of Money, Credit and Banking (2003)
  3. The Inflation Bias When the Central Bank Targets, the Natural Rate of Unemployment
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (5)
    See also Journal Article in European Economic Review (2004)

1999

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

1998

  1. 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) Downloads View citations (1)

    See also Journal Article in Journal of Applied Econometrics (2000)

1997

  1. Credibility and Signaling in Disinflation- a Cross Country Examination
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads
  2. Explaining the Persistence of Commodity Prices
    Boston College Working Papers in Economics, Boston College Department of Economics Downloads View citations (4)
    Also in Cahiers de recherche, Universite de Montreal, Departement de sciences economiques (1997) Downloads View citations (4)

    See also Journal Article in Computational Economics (2000)
  3. 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 Downloads View citations (1)

1996

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

1995

  1. A Discrete-Time Version of Target Zone Models with Jumps
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (3)
    Also in Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge (1995) View citations (2)
    Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (1995) View citations (4)
  2. Government Expenditure and the Dynamics of High Inflation
    Cahiers de recherche, Universite de Montreal, Departement de sciences economiques Downloads View citations (2)
    Also in Cahiers de recherche, Centre interuniversitaire de recherche en économie quantitative, CIREQ (1995) View citations (3)

    See also Journal Article in Journal of Development Economics (1999)

Journal Articles

2019

  1. EXTREME EVENTS AND OPTIMAL MONETARY POLICY
    International Economic Review, 2019, 60, (2), 939-963 Downloads
    See also Working Paper (2018)
  2. Mind-changes at the FOMC
    Economics Letters, 2019, 184, (C) Downloads

2018

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

2017

  1. Canadian inflation targeting
    Canadian Journal of Economics, 2017, 50, (5), 1556-1572 Downloads View citations (2)
    Also in Canadian Journal of Economics/Revue canadienne d'économique, 2017, 50, (5), 1556-1572 (2017) Downloads
  2. Collective versus individual Decision-Making: A case study of the Bank of Israel Law
    European Economic Review, 2017, 93, (C), 73-89 Downloads View citations (3)
    See also Working Paper (2016)
  3. Skewness Risk and Bond Prices
    Journal of Applied Econometrics, 2017, 32, (2), 379-400 Downloads View citations (4)
    See also Working Paper (2012)

2014

  1. Dissent in monetary policy decisions
    Journal of Monetary Economics, 2014, 66, (C), 137-154 Downloads View citations (22)
    See also Working Paper (2011)
  2. Do Inflation-Targeting Central Banks Implicitly Target the Price Level?
    International Journal of Central Banking, 2014, 10, (2), 301-326 Downloads View citations (12)
    See also Working Paper (2009)
  3. Sectoral price rigidity and aggregate dynamics
    European Economic Review, 2014, 65, (C), 1-22 Downloads View citations (15)
    See also Working Paper (2009)

2013

  1. FACTOR ANALYSIS OF A LARGE DSGE MODEL
    Journal of Applied Econometrics, 2013, 28, (6), 903-928 Downloads
    See also Working Paper (2010)

2012

  1. 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 Downloads View citations (52)

2011

  1. Durable goods, inter-sectoral linkages and monetary policy
    Journal of Economic Dynamics and Control, 2011, 35, (5), 730-745 Downloads View citations (15)
    See also Working Paper (2008)
  2. Monetary policy when wages are downwardly rigid: Friedman meets Tobin
    Journal of Economic Dynamics and Control, 2011, 35, (12), 2064-2077 Downloads View citations (24)
    See also Working Paper (2009)

2010

  1. Monetary Policy by Committee: Consensus, Chairman Dominance, or Simple Majority?
    The Quarterly Journal of Economics, 2010, 125, (1), 363-416 Downloads View citations (53)
    See also Working Paper (2008)

2009

  1. How much inflation is necessary to grease the wheels?
    Journal of Monetary Economics, 2009, 56, (3), 365-377 Downloads View citations (77)
    See also Working Paper (2007)
  2. THE TRANSMISSION OF MONETARY POLICY IN A MULTISECTOR ECONOMY
    International Economic Review, 2009, 50, (4), 1243-1266 Downloads View citations (61)
    See also Working Paper (2005)

2008

  1. Preference Heterogeneity in Monetary Policy Committees
    International Journal of Central Banking, 2008, 4, (1), 213-233 Downloads View citations (28)
    See also Working Paper (2007)
  2. The Dynamic (In)Efficiency of Monetary Policy by Committee
    Journal of Money, Credit and Banking, 2008, 40, (5), 1001-1032 View citations (21)
    Also in Journal of Money, Credit and Banking, 2008, 40, (5), 1001-1032 (2008) Downloads View citations (2)

    See also Working Paper (2006)

2007

  1. Methods to estimate dynamic stochastic general equilibrium models
    Journal of Economic Dynamics and Control, 2007, 31, (8), 2599-2636 Downloads View citations (120)
    See also Working Paper (2004)

2006

  1. The expectations hypothesis of the term structure when interest rates are close to zero
    Journal of Monetary Economics, 2006, 53, (7), 1409-1424 Downloads View citations (19)

2005

  1. Habit formation and the persistence of monetary shocks
    Journal of Monetary Economics, 2005, 52, (6), 1073-1088 Downloads View citations (68)
    See also Working Paper (2002)

2004

  1. Nonlinear Monetary Policy Rules: Some New Evidence for the U.S
    Studies in Nonlinear Dynamics & Econometrics, 2004, 8, (3), 1-34 Downloads View citations (52)
    See also Working Paper (2003)
  2. The inflation bias when the central bank targets the natural rate of unemployment
    European Economic Review, 2004, 48, (1), 91-107 Downloads View citations (66)
    See also Working Paper (2001)

2003

  1. Distortionary Taxation and Labor Supply
    Journal of Money, Credit and Banking, 2003, 35, (3), 350-73 View citations (29)
  2. 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 Downloads View citations (42)
    See also Working Paper (2002)
  3. Inflation Targeting under Asymmetric Preferences
    Journal of Money, Credit and Banking, 2003, 35, (5), 763-85 View citations (86)
    See also Working Paper (2001)

2002

  1. A Prudent Central Banker
    IMF Staff Papers, 2002, 49, (3), 7 Downloads View citations (9)
    See also Working Paper (2001)

2000

  1. Explaining the Persistence of Commodity Prices
    Computational Economics, 2000, 16, (1/2), 149-171 Downloads View citations (23)
    See also Working Paper (1997)
  2. The effects of learning and signaling on money demand: With an application to heterodox inflation stabilization programs
    Empirical Economics, 2000, 25, (1), 61-91 Downloads View citations (1)
  3. Uncovering financial markets' beliefs about inflation targets
    Journal of Applied Econometrics, 2000, 15, (5), 483-512 Downloads View citations (18)
    See also Working Paper (1998)

1999

  1. 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 (10)
  2. Government expenditure and the dynamics of high inflation
    Journal of Development Economics, 1999, 58, (2), 333-358 Downloads View citations (11)
    See also Working Paper (1995)

1996

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

1995

  1. Credibility and Changes in Policy Regime
    Journal of Political Economy, 1995, 103, (1), 176-208 Downloads View citations (32)

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 Downloads View citations (2)
  2. The SSM at 1
    SUERF Studies, SUERF - The European Money and Finance Forum Downloads 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 Downloads View citations (1)
 
Page updated 2020-11-24