Details about Stephanie Schmitt-Grohe

E-mail:
Homepage:	https://www.columbia.edu/~ss3501
Phone:	212 851 4010
Postal address:	Department of Economics Columbia University 420 West 118th Street New York NY 10027
Workplace:	Department of Economics, School of Arts and Sciences, Columbia University, (more information at EDIRC)

Access statistics for papers by Stephanie Schmitt-Grohe.

Last updated 2025-01-06. Update your information in the RePEc Author Service.

Short-id: psc44

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Working Papers

2025

1. Hotelling Meets Keynes: Aggregate Adjustment with Spatial Competition and Nominal Rigidity
   NBER Working Papers, National Bureau of Economic Research, Inc

2024

2. Central Bank Information or Neo-Fisher Effect?
   NBER Working Papers, National Bureau of Economic Research, Inc

2023

3. Exchange Controls As A Fiscal Instrument
   NBER Working Papers, National Bureau of Economic Research, Inc

2022

4. Heterogeneous Downward Nominal Wage Rigidity: Foundations of a Nonlinear Phillips Curve
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
5. The Macroeconomic Consequences of Natural Rate Shocks: An Empirical Investigation
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
6. What Do Long Data Tell Us About the Inflation Hike Post COVID-19 Pandemic?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

2021

7. Optimal Bank Reserve Remuneration and Capital Control Policy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   See also Journal Article Optimal Bank Reserve Remuneration and Capital Control Policy, American Economic Journal: Macroeconomics, American Economic Association (2025) (2025)

2020

8. Covid-19: Testing Inequality in New York City
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (30)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (28)
9. Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019)
   See also Journal Article Deterministic debt cycles in open economies with flow collateral constraints, Journal of Economic Theory, Elsevier (2021) View citations (6) (2021)
10. Does the Commodity Super Cycle Matter?
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (18)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (16)
11. Reviving the Salter-Swan Small Open Economy Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Chapter Reviving the Salter-Swan Small Open Economy Model, NBER Chapters, National Bureau of Economic Research, Inc (2020) View citations (1) (2020)
    Journal Article Reviving the Salter-Swan small open economy model, Journal of International Economics, Elsevier (2021) View citations (3) (2021)

2018

12. Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)

2017

13. Learning to Live in a Liquidity Trap
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Learning to live in a liquidity trap, Journal of Economic Dynamics and Control, Elsevier (2018) View citations (24) (2018)
14. World Shocks, World Prices, and Business Cycles: An Empirical Investigation
    IDB Publications (Working Papers), Inter-American Development Bank View citations (60)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (1)
    See also Journal Article World shocks, world prices, and business cycles: An empirical investigation, Journal of International Economics, Elsevier (2017) View citations (117) (2017)
    Chapter World Shocks, World Prices, and Business Cycles: An Empirical Investigation, NBER Chapters, National Bureau of Economic Research, Inc (2016) View citations (1) (2016)

2016

15. Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article Adjustment to small, large, and sunspot shocks in open economies with stock collateral constraints, Revista ESPE - Ensayos Sobre Política Económica, Banco de la República (2017) View citations (10) (2017)
16. How Important Are Terms of Trade Shocks
    2016 Meeting Papers, Society for Economic Dynamics View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (37)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (37)
17. Is Optimal Capital-Control Policy Countercyclical In Open-Economy Models With Collateral Constraints?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (6)
    See also Journal Article Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?, IMF Economic Review, Palgrave Macmillan (2017) View citations (39) (2017)
18. Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (15)

2015

19. A Model of the Twin Ds: Optimal Default and Devaluation
    2015 Meeting Papers, Society for Economic Dynamics View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (5)
    FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2015) View citations (3)

2014

20. The Twin Ds: Optimal Default and Devaluation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Journal Article The Twin Ds: Optimal Default and Devaluation, American Economic Review, American Economic Association (2018) View citations (59) (2018)

2012

21. Managing Currency Pegs
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (24)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (24)
    See also Journal Article Managing Currency Pegs, American Economic Review, American Economic Association (2012) View citations (24) (2012)
22. Pegs and Pain
    2012 Meeting Papers, Society for Economic Dynamics View citations (13)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (55)
    NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (60)
23. Pegs, Downward Wage Rigidity, and Unemployment: The Role of Financial Structure
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    Also in Working Papers Central Bank of Chile, Central Bank of Chile (2012) View citations (4)
    See also Chapter Pegs, Downward Wage Rigidity and Unemployment: The Role of Financial Structure, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2014) View citations (4) (2014)
24. Prudential Policy for Peggers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (54)
25. The Case For Temporary Inflation in the Eurozone
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
26. The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (67)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (62)
27. What's News in Business Cycles
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (271)
    Also in 2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (14)
    NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (91)
    See also Journal Article What's News in Business Cycles, Econometrica, Econometric Society (2012) View citations (273) (2012)

2010

28. A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (4)
    See also Journal Article A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier, American Economic Journal: Economic Policy, American Economic Association (2012) View citations (28) (2012)
    Chapter A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier, NBER Chapters, National Bureau of Economic Research, Inc (2010) View citations (4) (2010)
29. Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (5)
    See also Journal Article Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) View citations (61) (2011)
30. Liquidity Traps: An Interest-Rate-Based Exit Strategy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Journal Article Liquidity Traps: an Interest-rate-based Exit Strategy, Manchester School, University of Manchester (2014) View citations (26) (2014)
31. The Optimal Rate of Inflation
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (103)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (106)
    See also Chapter The Optimal Rate of Inflation, Handbook of Monetary Economics, Elsevier (2010) View citations (78) (2010)

2009

32. Deep Habits and the Dynamic Effects of Monetary Policy Shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in Economics Working Papers, European University Institute (2008) View citations (4)
    See also Journal Article Deep habits and the dynamic effects of monetary policy shocks, Journal of the Japanese and International Economies, Elsevier (2010) View citations (43) (2010)
    Chapter Deep Habits and the Dynamic Effects of Monetary Policy Shocks, NBER Chapters, National Bureau of Economic Research, Inc (2010) View citations (33) (2010)
33. Foreign Demand for Domestic Currency and the Optimal Rate of Inflation
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (8)
    See also Journal Article Foreign Demand for Domestic Currency and the Optimal Rate of Inflation, Journal of Money, Credit and Banking, Blackwell Publishing (2012) View citations (10) (2012)
34. On Quality Bias and Inflation Targets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (1)
    See also Journal Article On quality bias and inflation targets, Journal of Monetary Economics, Elsevier (2012) View citations (16) (2012)

2008

35. Incomplete Cost Pass-Through Under Deep Habits
    Economics Working Papers, European University Institute View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (2)
    See also Journal Article Incomplete Cost Pass-Through Under Deep Habits, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2010) View citations (15) (2010)

2007

36. Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (115)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (128)
37. Optimal simple and implementable monetary and fiscal rules
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (702)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (111)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (128)
    See also Journal Article Optimal simple and implementable monetary and fiscal rules, Journal of Monetary Economics, Elsevier (2007) View citations (764) (2007)
38. Pricing to Habits and the Law of One Price
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (25)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (2)
    Economics Working Papers, European University Institute (2006) View citations (1)
    See also Journal Article Pricing to Habits and the Law of One Price, American Economic Review, American Economic Association (2007) View citations (23) (2007)

2006

39. Comparing Two Variants of Calvo-Type Wage Stickiness
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)
40. Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (7)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) View citations (19)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (59)
    See also Chapter Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2007) View citations (38) (2007)
41. Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (73)
42. Optimal fiscal and monetary policy in a medium-scale macroeconomic model
    Working Paper Series, European Central Bank View citations (103)
    See also Chapter Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model, NBER Chapters, National Bureau of Economic Research, Inc (2006) View citations (66) (2006)

2005

43. Optimal Fiscal and Monetary Policy In A Medium Scale Macro Model
    Computing in Economics and Finance 2005, Society for Computational Economics View citations (84)
44. Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model: Expanded Version
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (170)
45. The Macroeconomics of Subsistence Points
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (7)
    See also Journal Article MACROECONOMICS OF SUBSISTENCE POINTS, Macroeconomic Dynamics, Cambridge University Press (2008) View citations (31) (2008)

2004

46. Chaotic Interest Rate Rules: Expanded Version
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
47. Deep Habits
    2004 Meeting Papers, Society for Economic Dynamics View citations (108)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (11)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (57)
    See also Journal Article Deep Habits, The Review of Economic Studies, Review of Economic Studies Ltd (2006) View citations (202) (2006)
48. Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the U.S. Business Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (94)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (93)

2003

49. Anticipated Ramsey Reforms and the Uniform Taxation Principle: the Role of International Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (2002) View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (2)
    Working Paper Series, European Central Bank (2003) View citations (17)
50. Backward-Looking Interest Rate Rules, Interest Rate Smoothing and Macroeconomic Instability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (55)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2003) View citations (37)
    Departmental Working Papers, Rutgers University, Department of Economics (2003) View citations (62)
    PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2003) View citations (58)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (56)
    See also Journal Article Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability, Proceedings, Federal Reserve Bank of Cleveland (2003) View citations (47) (2003)
51. Optimal Fiscal and Monetary Policy Under Imperfect Competition
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (2001) View citations (20)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (19)
    See also Journal Article Optimal fiscal and monetary policy under imperfect competition, Journal of Macroeconomics, Elsevier (2004) View citations (262) (2004)

2002

52. Closing Small Open Economy Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (89)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (2001) View citations (44)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (32)
    See also Journal Article Closing small open economy models, Journal of International Economics, Elsevier (2003) View citations (1955) (2003)
53. Optimal Fiscal and Monetary Policy Under Sticky Prices
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (2001) View citations (57)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (54)
    See also Journal Article Optimal fiscal and monetary policy under sticky prices, Journal of Economic Theory, Elsevier (2004) View citations (510) (2004)
54. Solving Dynamic General Equilibrium Models Using a Second-Order Approximation to the Policy Function
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (54)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (31)
    Departmental Working Papers, Rutgers University, Department of Economics (2001) View citations (68)
    See also Journal Article Solving dynamic general equilibrium models using a second-order approximation to the policy function, Journal of Economic Dynamics and Control, Elsevier (2004) View citations (1065) (2004)

2001

55. Avoiding Liquidity Traps
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (23)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (2000) View citations (8)
    See also Journal Article Avoiding Liquidity Traps, Journal of Political Economy, University of Chicago Press (2002) View citations (272) (2002)
56. Chaotic Interest Rate Rules
    Departmental Working Papers, Rutgers University, Department of Economics View citations (7)
    Also in Computing in Economics and Finance 2001, Society for Computational Economics (2001) View citations (15)
    See also Journal Article Chaotic Interest-Rate Rules, American Economic Review, American Economic Association (2002) View citations (43) (2002)
57. Liquidity Traps with Global Taylor Rules
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (2000) View citations (15)
    See also Journal Article Liquidity traps with global Taylor Rules, International Journal of Economic Theory, The International Society for Economic Theory (2009) View citations (24) (2009)

2000

58. Stabilization Policy and the Costs of Dollarization
    Departmental Working Papers, Rutgers University, Department of Economics View citations (13)
    See also Journal Article Stabilization Policy and the Costs of Dollarization, Journal of Money, Credit and Banking, Blackwell Publishing (2001) View citations (132) (2001)

1999

59. Endogenous Business Cycles and the Dynamics of Output, Hours, and Consumption
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (3)
    Departmental Working Papers, Rutgers University, Department of Economics (1999) View citations (4)
    See also Journal Article Endogenous Business Cycles and the Dynamics of Output, Hours, and Consumption, American Economic Review, American Economic Association (2000) View citations (76) (2000)
60. Monetary Policy and Multiple Equilibria
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (1999) View citations (5)
    Working Papers, C.V. Starr Center for Applied Economics, New York University (1998) View citations (22)
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (17)
    See also Journal Article Monetary Policy and Multiple Equilibria, American Economic Review, American Economic Association (2001) View citations (344) (2001)
61. The Perils of Taylor Rules
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (51)
    Also in Departmental Working Papers, Rutgers University, Department of Economics (1998) View citations (14)
    Working Papers, C.V. Starr Center for Applied Economics, New York University (1998) View citations (9)
    See also Journal Article The Perils of Taylor Rules, Journal of Economic Theory, Elsevier (2001) View citations (585) (2001)

1998

62. Online Appendix to Y2K
    Online Appendices, Review of Economic Dynamics
    See also Journal Article Y2K, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (1999) (1999)
63. Price Level Determinacy and Monetary Policy under a Balanced-Budget Requirement
    Departmental Working Papers, Rutgers University, Department of Economics View citations (24)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (11)
    See also Journal Article Price level determinacy and monetary policy under a balanced-budget requirement, Journal of Monetary Economics, Elsevier (2000) View citations (179) (2000)
64. Y2K
    Departmental Working Papers, Rutgers University, Department of Economics
    See also Journal Article Y2K, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (1999) (1999)

1995

65. Balanced-budget rules, distortionary taxes, and aggregate instability
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (35)
    See also Journal Article Balanced-Budget Rules, Distortionary Taxes, and Aggregate Instability, Journal of Political Economy, University of Chicago Press (1997) View citations (273) (1997)
66. Comparing four models of aggregate fluctuations due to self-fulfilling expectations
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (11)
    See also Journal Article Comparing Four Models of Aggregate Fluctuations due to Self-Fulfilling Expectations, Journal of Economic Theory, Elsevier (1997) View citations (66) (1997)
67. The international transmission of economic fluctuations: effects of U. S. business cycles on the Canadian economy
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (7)
    See also Journal Article The international transmission of economic fluctuations:: Effects of U.S. business cycles on the Canadian economy, Journal of International Economics, Elsevier (1998) View citations (67) (1998)

Journal Articles

2025

1. Optimal Bank Reserve Remuneration and Capital Control Policy
   American Economic Journal: Macroeconomics, 2025, 17, (1), 203-44
   See also Working Paper Optimal Bank Reserve Remuneration and Capital Control Policy, NBER Working Papers (2021) View citations (1) (2021)

2024

2. The Future of Macroeconomic Policy
   IMF Economic Review, 2024, 72, (3), 941-943
3. What Do Long Data Tell Us about the Permanent Component of Inflation?
   AEA Papers and Proceedings, 2024, 114, 101-05

2022

4. The effects of permanent monetary shocks on exchange rates and uncovered interest rate differentials
   Journal of International Economics, 2022, 135, (C) View citations (15)

2021

5. Deterministic debt cycles in open economies with flow collateral constraints
   Journal of Economic Theory, 2021, 192, (C) View citations (6)
   See also Working Paper Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints, NBER Working Papers (2020) View citations (1) (2020)
6. Multiple Equilibria in Open Economies with Collateral Constraints
   The Review of Economic Studies, 2021, 88, (2), 969-1001 View citations (10)
7. Reviving the Salter-Swan small open economy model
   Journal of International Economics, 2021, 130, (C) View citations (3)
   See also Chapter Reviving the Salter-Swan Small Open Economy Model, NBER Chapters, 2020 (2020) View citations (1) (2020)
   Working Paper Reviving the Salter-Swan Small Open Economy Model, NBER Working Papers (2020) View citations (1) (2020)

2018

8. Learning to live in a liquidity trap
   Journal of Economic Dynamics and Control, 2018, 89, (C), 120-136 View citations (24)
   See also Working Paper Learning to Live in a Liquidity Trap, NBER Working Papers (2017) View citations (4) (2017)
9. The Twin Ds: Optimal Default and Devaluation
   American Economic Review, 2018, 108, (7), 1773-1819 View citations (59)
   See also Working Paper The Twin Ds: Optimal Default and Devaluation, NBER Working Papers (2014) View citations (19) (2014)

2017

10. Adjustment to small, large, and sunspot shocks in open economies with stock collateral constraints
    Revista ESPE - Ensayos Sobre Política Económica, 2017, 35, (82), 2-9 View citations (10)
    Also in Revista ESPE - Ensayos sobre Política Económica, 2017, 35, (82), 2-9 (2017) View citations (10)
    See also Working Paper Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints, NBER Working Papers (2016) View citations (2) (2016)
11. Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?
    IMF Economic Review, 2017, 65, (3), 498-527 View citations (39)
    See also Working Paper Is Optimal Capital-Control Policy Countercyclical In Open-Economy Models With Collateral Constraints?, NBER Working Papers (2016) View citations (4) (2016)
12. Liquidity Traps and Jobless Recoveries
    American Economic Journal: Macroeconomics, 2017, 9, (1), 165-204 View citations (78)
13. World shocks, world prices, and business cycles: An empirical investigation
    Journal of International Economics, 2017, 108, (S1), S2-S14 View citations (117)
    See also Chapter World Shocks, World Prices, and Business Cycles: An Empirical Investigation, NBER Chapters, 2016 (2016) View citations (1) (2016)
    Working Paper World Shocks, World Prices, and Business Cycles: An Empirical Investigation, IDB Publications (Working Papers) (2017) View citations (60) (2017)

2016

14. Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary Unemployment
    Journal of Political Economy, 2016, 124, (5), 1466 - 1514 View citations (313)

2014

15. Liquidity Traps: an Interest-rate-based Exit Strategy
    Manchester School, 2014, 82, (S1), 1-14 View citations (26)
    See also Working Paper Liquidity Traps: An Interest-Rate-Based Exit Strategy, NBER Working Papers (2010) View citations (18) (2010)

2013

16. Downward Nominal Wage Rigidity and the Case for Temporary Inflation in the Eurozone
    Journal of Economic Perspectives, 2013, 27, (3), 193-212 View citations (86)

2012

17. A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier
    American Economic Journal: Economic Policy, 2012, 4, (2), 28-45 View citations (28)
    See also Working Paper A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier, NBER Working Papers (2010) View citations (12) (2010)
    Chapter A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier, NBER Chapters, 2010, 28-45 (2010) View citations (4) (2010)
18. An OLS approach to computing Ramsey equilibria in medium-scale macroeconomic models
    Economics Letters, 2012, 115, (1), 128-129 View citations (17)
19. Consumption, government spending, and the real exchange rate
    Journal of Monetary Economics, 2012, 59, (3), 215-234 View citations (168)
20. Foreign Demand for Domestic Currency and the Optimal Rate of Inflation
    Journal of Money, Credit and Banking, 2012, 44, (6), 1207-1224 View citations (10)
    Also in Journal of Money, Credit and Banking, 2012, 44, (6), 1207-1224 (2012) View citations (3)
    See also Working Paper Foreign Demand for Domestic Currency and the Optimal Rate of Inflation, CEPR Discussion Papers (2009) View citations (5) (2009)
21. Managing Currency Pegs
    American Economic Review, 2012, 102, (3), 192-97 View citations (24)
    See also Working Paper Managing Currency Pegs, CEPR Discussion Papers (2012) View citations (24) (2012)
22. On quality bias and inflation targets
    Journal of Monetary Economics, 2012, 59, (4), 393-400 View citations (16)
    See also Working Paper On Quality Bias and Inflation Targets, NBER Working Papers (2009) View citations (2) (2009)
23. What's News in Business Cycles
    Econometrica, 2012, 80, (6), 2733-2764 View citations (273)
    See also Working Paper What's News in Business Cycles, CEPR Discussion Papers (2012) View citations (271) (2012)

2011

24. Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity
    Review of Economic Dynamics, 2011, 14, (1), 122-135 View citations (61)
    See also Working Paper Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity, NBER Working Papers (2010) View citations (7) (2010)
    Software Item Code and data files for "Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity", Computer Codes (2010) (2010)
25. Introduction to the special issue on the sources of business cycles
    Review of Economic Dynamics, 2011, 14, (1), 1-2 View citations (2)

2010

26. Deep habits and the dynamic effects of monetary policy shocks
    Journal of the Japanese and International Economies, 2010, 24, (2), 236-258 View citations (43)
    See also Working Paper Deep Habits and the Dynamic Effects of Monetary Policy Shocks, CEPR Discussion Papers (2009) View citations (21) (2009)
    Chapter Deep Habits and the Dynamic Effects of Monetary Policy Shocks, NBER Chapters, 2010, 236-258 (2010) View citations (33) (2010)
27. Evaluating the sample likelihood of linearized DSGE models without the use of the Kalman filter
    Economics Letters, 2010, 109, (3), 142-143 View citations (5)
28. Incomplete Cost Pass-Through Under Deep Habits
    Review of Economic Dynamics, 2010, 13, (2), 317-332 View citations (15)
    Also in Proceedings, 2008 (2008) View citations (1)
    See also Software Item Code file for "Incomplete cost pass-through under deep habits", Computer Codes (2010) (2010)
    Working Paper Incomplete Cost Pass-Through Under Deep Habits, Economics Working Papers (2008) View citations (2) (2008)

2009

29. Liquidity traps with global Taylor Rules
    International Journal of Economic Theory, 2009, 5, (1), 85-106 View citations (24)
    See also Working Paper Liquidity Traps with Global Taylor Rules, CEPR Discussion Papers (2001) View citations (3) (2001)

2008

30. MACROECONOMICS OF SUBSISTENCE POINTS
    Macroeconomic Dynamics, 2008, 12, (S1), 136-147 View citations (31)
    See also Working Paper The Macroeconomics of Subsistence Points, CEPR Discussion Papers (2005) (2005)
31. Policy implications of the New Keynesian Phillips curve
    Economic Quarterly, 2008, 94, (Fall), 435-465 View citations (5)

2007

32. Optimal simple and implementable monetary and fiscal rules
    Journal of Monetary Economics, 2007, 54, (6), 1702-1725 View citations (764)
    See also Working Paper Optimal simple and implementable monetary and fiscal rules, FRB Atlanta Working Paper (2007) View citations (702) (2007)
33. Pricing to Habits and the Law of One Price
    American Economic Review, 2007, 97, (2), 232-238 View citations (23)
    See also Working Paper Pricing to Habits and the Law of One Price, CEPR Discussion Papers (2007) View citations (25) (2007)

2006

34. Deep Habits
    The Review of Economic Studies, 2006, 73, (1), 195-218 View citations (202)
    See also Working Paper Deep Habits, 2004 Meeting Papers (2004) View citations (108) (2004)

2004

35. Commentary on Inflation targeting and optimal monetary policy
    Review, 2004, 86, (Jul), 43-50
36. Optimal fiscal and monetary policy under imperfect competition
    Journal of Macroeconomics, 2004, 26, (2), 183-209 View citations (262)
    See also Working Paper Optimal Fiscal and Monetary Policy Under Imperfect Competition, NBER Working Papers (2003) View citations (2) (2003)
37. Optimal fiscal and monetary policy under sticky prices
    Journal of Economic Theory, 2004, 114, (2), 198-230 View citations (510)
    Also in Proceedings, 2001, (Jun) (2001) View citations (39)
    See also Working Paper Optimal Fiscal and Monetary Policy Under Sticky Prices, NBER Working Papers (2002) View citations (21) (2002)
38. Solving dynamic general equilibrium models using a second-order approximation to the policy function
    Journal of Economic Dynamics and Control, 2004, 28, (4), 755-775 View citations (1065)
    See also Working Paper Solving Dynamic General Equilibrium Models Using a Second-Order Approximation to the Policy Function, NBER Technical Working Papers (2002) View citations (54) (2002)
39. The Research Agenda: Stephanie Schmitt-Grohé and Martín Uribe on Policy Evaluation in Macroeconomics
    EconomicDynamics Newsletter, 2004, 6, (1)

2003

40. Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability
    Proceedings, 2003, 1379-1423 View citations (47)
    See also Working Paper Backward-Looking Interest Rate Rules, Interest Rate Smoothing and Macroeconomic Instability, CEPR Discussion Papers (2003) View citations (55) (2003)
41. Closing small open economy models
    Journal of International Economics, 2003, 61, (1), 163-185 View citations (1955)
    See also Working Paper Closing Small Open Economy Models, NBER Working Papers (2002) View citations (89) (2002)

2002

42. Avoiding Liquidity Traps
    Journal of Political Economy, 2002, 110, (3), 535-563 View citations (272)
    See also Working Paper Avoiding Liquidity Traps, CEPR Discussion Papers (2001) View citations (23) (2001)
43. Chaotic Interest-Rate Rules
    American Economic Review, 2002, 92, (2), 72-78 View citations (43)
    See also Working Paper Chaotic Interest Rate Rules, Departmental Working Papers (2001) View citations (7) (2001)

2001

44. Monetary Policy and Multiple Equilibria
    American Economic Review, 2001, 91, (1), 167-186 View citations (344)
    See also Working Paper Monetary Policy and Multiple Equilibria, CEPR Discussion Papers (1999) View citations (5) (1999)
45. Stabilization Policy and the Costs of Dollarization
    Journal of Money, Credit and Banking, 2001, 33, (2), 482-509 View citations (132)
    Also in Proceedings, 2001, 482-517 (2001) View citations (124)
    See also Working Paper Stabilization Policy and the Costs of Dollarization, Departmental Working Papers (2000) View citations (13) (2000)
46. The Perils of Taylor Rules
    Journal of Economic Theory, 2001, 96, (1-2), 40-69 View citations (585)
    See also Working Paper The Perils of Taylor Rules, CEPR Discussion Papers (1999) View citations (51) (1999)

2000

47. Endogenous Business Cycles and the Dynamics of Output, Hours, and Consumption
    American Economic Review, 2000, 90, (5), 1136-1159 View citations (76)
    See also Working Paper Endogenous Business Cycles and the Dynamics of Output, Hours, and Consumption, CEPR Discussion Papers (1999) (1999)
48. Price level determinacy and monetary policy under a balanced-budget requirement
    Journal of Monetary Economics, 2000, 45, (1), 211-246 View citations (179)
    See also Working Paper Price Level Determinacy and Monetary Policy under a Balanced-Budget Requirement, Departmental Working Papers (1998) View citations (24) (1998)

1999

49. Y2K
    Review of Economic Dynamics, 1999, 2, (4), 850-856
    See also Working Paper Y2K, Departmental Working Papers (1998) (1998)
    Working Paper Online Appendix to Y2K, Online Appendices (1998) (1998)

1998

50. The international transmission of economic fluctuations:: Effects of U.S. business cycles on the Canadian economy
    Journal of International Economics, 1998, 44, (2), 257-287 View citations (67)
    See also Working Paper The international transmission of economic fluctuations: effects of U. S. business cycles on the Canadian economy, Finance and Economics Discussion Series (1995) View citations (7) (1995)

1997

51. Balanced-Budget Rules, Distortionary Taxes, and Aggregate Instability
    Journal of Political Economy, 1997, 105, (5), 976-1000 View citations (273)
    See also Working Paper Balanced-budget rules, distortionary taxes, and aggregate instability, Finance and Economics Discussion Series (1995) View citations (35) (1995)
52. Comparing Four Models of Aggregate Fluctuations due to Self-Fulfilling Expectations
    Journal of Economic Theory, 1997, 72, (1), 96-147 View citations (66)
    See also Working Paper Comparing four models of aggregate fluctuations due to self-fulfilling expectations, Finance and Economics Discussion Series (1995) View citations (11) (1995)

Chapters

2020

1. Reviving the Salter-Swan Small Open Economy Model
   A chapter in NBER International Seminar on Macroeconomics 2020, 2020 View citations (1)
   See also Working Paper Reviving the Salter-Swan Small Open Economy Model, National Bureau of Economic Research, Inc (2020) View citations (1) (2020)
   Journal Article Reviving the Salter-Swan small open economy model, Elsevier (2021) View citations (3) (2021)

2016

2. World Shocks, World Prices, and Business Cycles: An Empirical Investigation
   A chapter in NBER International Seminar on Macroeconomics 2016, 2016 View citations (1)
   See also Journal Article World shocks, world prices, and business cycles: An empirical investigation, Elsevier (2017) View citations (117) (2017)
   Working Paper World Shocks, World Prices, and Business Cycles: An Empirical Investigation, Inter-American Development Bank (2017) View citations (60) (2017)

2014

3. Pegs, Downward Wage Rigidity and Unemployment: The Role of Financial Structure
   Chapter 3 in Capital Mobility and Monetary Policy, 2014, vol. 18, pp 69-95 View citations (4)
   See also Working Paper Pegs, Downward Wage Rigidity, and Unemployment: The Role of Financial Structure, National Bureau of Economic Research, Inc (2012) View citations (5) (2012)

2010

4. A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier
   A chapter in Fiscal Policy (Trans-Atlantic Public Economics Seminar, TAPES), 2010, pp 28-45 View citations (4)
   See also Journal Article A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier, American Economic Association (2012) View citations (28) (2012)
   Working Paper A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier, National Bureau of Economic Research, Inc (2010) View citations (12) (2010)
5. Comment on "Letting Different Views about Business Cycles Compete"
   A chapter in NBER Macroeconomics Annual 2009, Volume 24, 2010, pp 475-489 View citations (1)
6. Deep Habits and the Dynamic Effects of Monetary Policy Shocks
   A chapter in Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR), 2010, pp 236-258 View citations (33)
   See also Working Paper Deep Habits and the Dynamic Effects of Monetary Policy Shocks, C.E.P.R. Discussion Papers (2009) View citations (21) (2009)
   Journal Article Deep habits and the dynamic effects of monetary policy shocks, Elsevier (2010) View citations (43) (2010)
7. The Optimal Rate of Inflation
   Chapter 13 in Handbook of Monetary Economics, 2010, vol. 3, pp 653-722 View citations (78)
   See also Working Paper The Optimal Rate of Inflation, C.E.P.R. Discussion Papers (2010) View citations (103) (2010)

2007

8. Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model
   Chapter 5 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 125-186 View citations (38)
   See also Working Paper Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model, Central Bank of Chile (2006) View citations (7) (2006)

2006

9. Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model
   A chapter in NBER Macroeconomics Annual 2005, Volume 20, 2006, pp 383-462 View citations (66)
   See also Working Paper Optimal fiscal and monetary policy in a medium-scale macroeconomic model, European Central Bank (2006) View citations (103) (2006)

Software Items

2010

1. Code and data files for "Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2011) View citations (61) (2011)
2. Code file for "Incomplete cost pass-through under deep habits"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article Incomplete Cost Pass-Through Under Deep Habits, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2010) View citations (15) (2010)

2003

3. Matlab code for Solving Dynamic General Equilibrium Models Using a Second-Order Approximation to the Policy Function
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles

2001

4. Matlab code for Closing Small Open Economy Models
   QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles