Details about Andrew Lee Smith

Access statistics for papers by Andrew Lee Smith.

Last updated 2023-03-16. Update your information in the RePEc Author Service.

Short-id: psm183

Working Papers

2024

1. Maintaining the Anchor: An Evaluation of Inflation Targeting in the Face of COVID-19
   Research Working Paper, Federal Reserve Bank of Kansas City

2023

2. How Optimal Was U.S. Monetary Policy at the Zero Lower Bound?
   Research Working Paper, Federal Reserve Bank of Kansas City

2022

3. The Term Structure of Monetary Policy Uncertainty
   Research Working Paper, Federal Reserve Bank of Kansas City

2021

4. The Financial Market Effects of Unwinding the Federal Reserve’s Balance Sheet
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)

2020

5. Did the Federal Reserve Break the Phillips Curve? Theory and Evidence of Anchoring Inflation Expectations
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (6)
6. Should We Be Puzzled by Forward Guidance?
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (5)

2018

7. Does Communicating a Numerical Inflation Target Anchor Inflation Expectations? Evidence & Bond Market Implications
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (16)
8. Reconciling VAR-based Forecasts with Survey Forecasts
   Research Working Paper, Federal Reserve Bank of Kansas City
9. The Optimal Monetary Instrument and the (Mis)Use of Causality Tests
   Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)

2017

10. Forward Guidance, Monetary Policy Uncertainty, and the Term Premium
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (43)

2016

11. The dynamic effects of forward guidance shocks
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (30)

2015

12. When does the cost channel pose a challenge to inflation targeting central banks?
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (3)

2014

13. A Model of Monetary Policy Shocks for Financial Crises and Normal Conditions
    WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS, University of Kansas, Department of Economics View citations (16)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2014) View citations (1)
14. House prices, heterogeneous banks and unconventional monetary policy options
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (3)
    Also in WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS, University of Kansas, Department of Economics (2013) View citations (2)

2013

15. Determinacy and Indeterminacy in Monetary Policy Rules with Money
    WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS, University of Kansas, Department of Economics View citations (4)
16. Price Versus Financial Stability: A role for money in Taylor rules?
    WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS, University of Kansas, Department of Economics View citations (1)

Journal Articles

2024

1. Considerations for the Longer-Run Maturity Composition of the Federal Reserve’s Treasury Portfolio
   Economic Bulletin, 2024, 4
2. Despite High Inflation, Longer-Term Inflation Expectations Remain Well Anchored
   Economic Bulletin, 2024, 4
3. How Do Financial Markets Perceive the Balance of Risks to the Policy Rate?
   Economic Bulletin, 2024, 4
4. Introducing the Kansas City Fed's Measure of Policy Rate Uncertainty (KC PRU)
   Economic Review, 2024, 16

2023

5. A Tight Labor Market Could Keep Rent Inflation Elevated
   Economic Bulletin, 2023, (March 1st, 2023), 4
6. Gasoline Prices Unlikely to Bring Down Inflation in 2023
   Economic Bulletin, 2023, (February 15, 2023), 4

2022

7. Assessing Market Conditions ahead of Quantitative Tightening
   Economic Bulletin, 2022, (July 11, 2022), 4 View citations (2)
8. Can Higher Gasoline Prices Set Off an Inflationary Spiral?
   Economic Review, 2022, 107, (no.4) View citations (1)
9. Evaluating Quantitative Easing: The Importance of Accounting for Forward Guidance
   Economic Review, 2022, 107, (no.3), 16
10. The Evolving Role of the Fed’s Balance Sheet: Effects and Challenges
    Economic Review, 2022, 107, (no.4)

2021

11. Did the Federal Reserve Anchor Inflation Expectations Too Low?
    Economic Review, 2021, 106, (no.1), 5-23

2020

12. Policymakers Have Options for Additional Accommodation: Forward Guidance and Yield Curve Control
    Economic Bulletin, 2020, 5
13. Why Are Americans Saving So Much of Their Income?
    Economic Bulletin, 2020, 4 View citations (6)

2019

14. Do Changes in Reserve Balances Still Influence the Federal Funds Rate?
    Economic Review, 2019, (Q I), 5-34 View citations (14)
15. How Many Reserves Does the Federal Reserve Need to Supply?
    Macro Bulletin, 2019, 1-3

2018

16. Did Communicating a Numerical Inflation Target Anchor U.S. Inflation Expectations?
    Macro Bulletin, 2018, 1-4 View citations (2)

2017

17. Bond Premiums and the Natural Real Rate of Interest
    Economic Review, 2017, (Q I), 5-39 View citations (10)
18. Does the Recent Decline in Household Longer-Term Inflation Expectations Signal a Loss of Confidence in the FOMC?
    Macro Bulletin, 2017, 1-5
19. Forecasting the Stance of Monetary Policy under Balance Sheet Adjustments
    Macro Bulletin, 2017, 1-4

2016

20. How Does a Rise in International Shipping Costs Affect U.S. Inflation?
    Macro Bulletin, 2016, 1-3 View citations (6)
21. How much of the fall in inflation can be explained by energy and import prices?
    Macro Bulletin, 2016, 1-3 View citations (2)

2015

22. Evaluating a Year of Oil Price Volatility
    Economic Review, 2015, (Q III), 5-30 View citations (8)
    Also in Macro Bulletin, 2015, 1-3 (2015) View citations (8)
23. Has Forward Guidance Been Effective?
    Economic Review, 2015, (Q III), 57-78 View citations (17)
    Also in Macro Bulletin, 2015, 1-3 (2015) View citations (7)