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Details about Carl Walsh

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Homepage:http://people.ucsc.edu/~walshc/
Workplace:Economics Department, University of California-Santa Cruz (UCSC), (more information at EDIRC)

Access statistics for papers by Carl Walsh.

Last updated 2021-05-26. Update your information in the RePEc Author Service.

Short-id: pwa23


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Working Papers

2020

  1. The Role of Money in Monetary Policy at the Lower Bound
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads
    Also in Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2020) Downloads View citations (1)
  2. Worker heterogeneity, selection, and employment dynamics in the face of aggregate demand and pandemic shocks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads

2019

  1. Alternatives to Inflation Targeting in Low Interest Rate Environments
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan Downloads

2018

  1. Monetary policy operating procedures, lending frictions, and employment
    Working Papers, Peruvian Economic Association Downloads
    Also in Working Papers, Banco Central de Reserva del Perú (2018) Downloads View citations (2)

2017

  1. Discussion of "Leaning Against the Wind When Credit Bites Back"
    Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz Downloads

2015

  1. Goals and Rules in Central Bank Design
    CESifo Working Paper Series, CESifo Downloads View citations (10)

2014

  1. Multiple Objectives and Central Bank Tradeoffs Under Flexible Inflation Targeting
    Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz Downloads
    Also in CESifo Working Paper Series, CESifo (2014) Downloads View citations (4)

2010

  1. Business Cycles and Labor Market Flows with Sequential Screening
    2010 Meeting Papers, Society for Economic Dynamics Downloads
  2. The Welfare Consequences of Monetary Policy and the Role of the Labor Market: a Tax Interpretation
    Cahiers de recherche, CIRPEE Downloads View citations (1)
    Also in Cahiers de recherche, HEC Montréal, Institut d'économie appliquée (2010) Downloads View citations (1)

2009

  1. Monetary Policy And Key Unobservables: Evidence From Large Industrial And Selected Inflation-Targeting Countries
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (1)
    See also Chapter (2009)
  2. The welfare consequences of monetary policy
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (3)
  3. Welfare-based optimal monetary policy with unemployment and sticky prices: a linear-quadratic framework
    Working Paper Series, Federal Reserve Bank of San Francisco Downloads View citations (4)
    See also Journal Article in American Economic Journal: Macroeconomics (2011)

2008

  1. Monetary Policy Under Uncertainty and Learning: An Overview
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (7)
    See also Chapter (2009)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2008)

2007

  1. Inflation Targeting and the Role of Real Objectives
    Research and Policy Notes, Czech National Bank Downloads View citations (1)
  2. Optimal Economic Transparency
    Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz Downloads View citations (77)
    See also Journal Article in International Journal of Central Banking (2007)
  3. Vacancies, Unemployment, and the Phillips Curve
    2007 Meeting Papers, Society for Economic Dynamics Downloads View citations (2)
    Also in Kiel Working Papers, Kiel Institute for the World Economy (IfW) (2007) Downloads View citations (7)

    See also Journal Article in European Economic Review (2008)

2006

  1. Transparency, Flexibility, and Inflation Targeting
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (3)
    See also Chapter (2007)

2005

  1. Parameter misspecification and robust monetary policy rules
    Working Paper Series, European Central Bank Downloads View citations (22)

2004

  1. Implications of a Changing Economic Structure for the Strategy of Monetary Policy
    Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz Downloads View citations (12)
    Also in Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz (2004) Downloads View citations (12)

    See also Journal Article in Proceedings - Economic Policy Symposium - Jackson Hole (2003)

2003

  1. Labor Market Search, Sticky Prices, and Interest Rate Policies
    Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz Downloads View citations (1)
    Also in Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz (2003) Downloads View citations (1)

    See also Journal Article in Review of Economic Dynamics (2005)

2001

  1. Speed Limit Policies: The Output Gap and Optimal Monetary Policy
    CESifo Working Paper Series, CESifo Downloads View citations (20)
    See also Journal Article in American Economic Review (2003)

1997

  1. Central bank institutional design and the output cost of disinflation: did the 1989 New Zealand Reserve Bank Act affect the output-inflation tradeoff?
    Pacific Basin Working Paper Series, Federal Reserve Bank of San Francisco

1996

  1. The lender of last resort function under a currency board: the case of Argentina
    Policy Research Working Paper Series, The World Bank Downloads View citations (38)
    See also Journal Article in Open Economies Review (1996)

1994

  1. Central bank independence and the costs of disinflation in the EC
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (10)
  2. Is New Zealand's Reserve Bank Act of 1989 an optimal central bank contract?
    Pacific Basin Working Paper Series, Federal Reserve Bank of San Francisco View citations (4)
    See also Journal Article in Journal of Money, Credit and Banking (1995)

1993

  1. Optimal contracts for independent central bankers: private information, performance measures and reappointment
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (7)
    See also Journal Article in Proceedings (1993)

1992

  1. Presidential popularity, presidential policies
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (1)
    See also Journal Article in FRBSF Economic Letter (1992)

1988

  1. Seigniorage and tax smoothing in the United States: 1914-1986
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (2)
    See also Journal Article in Journal of Monetary Economics (1990)
  2. Testing intertemporal budget constraints: theory and applications to U. S. federal budget and current account deficits
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (43)
    See also Journal Article in Journal of Money, Credit and Banking (1991)

1987

  1. Common trends, the government's budget constraint, and revenue smoothing
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (2)
    See also Journal Article in Journal of Economic Dynamics and Control (1988)
  2. On the limitations of government borrowing: a framework for empirical testing: comment
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (1)
  3. Testing for Real Effects of Monetary Policy Regime Shifts
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  4. The Impact of Monetary Targeting in the United States: 1976-1984
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1987)

1986

  1. Borrowing restrictions and wealth constraints: implications for aggregate consumption
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1985) Downloads
  2. Inside Money and Monetary Neutrality
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1986) View citations (1)

    See also Journal Article in Journal of Macroeconomics (1991)

1985

  1. Monetary Information and Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Real Interest Rate, Credit Markets, and Economic Stabilization
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of Macroeconomics (1987)

1984

  1. Optimal Taxation by the Monetary Authority
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
  2. Unanticipated Money and Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    See also Journal Article in American Economic Review (1984)

1983

  1. Monetary Policy Regimes, Expected Inflation, and the Response of Interest Rates to Money Announcements
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in The Quarterly Journal of Economics (1985)

1982

  1. Interest Rate Volatility and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of Money, Credit and Banking (1984)

1981

  1. Measurement Error and the Flow of Funds Accounts: Estimates of HouseholdAsset Demand Equations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

1980

  1. Asset Prices, Substitution Effects, and the Impact of Changes in Asset Stocks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

Undated

  1. Central Bank Institutional Design and the Output Cost of Disinflation: Did the 1989 New Zealand Reserve Bank Act Affect the Inflation-Output Tradeoff?
    EPRU Working Paper Series, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics

Journal Articles

2019

  1. Alternatives to Inflation Targeting in Low Interest Rate Environments Keynote Speech by Carl E. Walsh
    Monetary and Economic Studies, 2019, 37, 41-70 Downloads

2015

  1. Day Two Keynote Address: Goals and Rules in Central Bank Design
    International Journal of Central Banking, 2015, 11, (4), 295-352 Downloads View citations (10)

2013

  1. Announcements and the Role of Policy Guidance
    Review, 2013, (Nov), 575-600 Downloads View citations (1)
    Also in Review, 2008, 90, (Jul), 421-442 (2008) Downloads View citations (7)

2012

  1. Monetary policy and labor market frictions: A tax interpretation
    Journal of Monetary Economics, 2012, 59, (2), 180-195 Downloads View citations (26)
  2. Screening and Labor Market Flows in a Model with Heterogeneous Workers
    Journal of Money, Credit and Banking, 2012, 44, 31-71 Downloads View citations (12)
    Also in Journal of Money, Credit and Banking, 2012, 44, (s2), 31-71 (2012) Downloads View citations (1)

2011

  1. Central Bank Independence Revisited
    Economic Papers, 2011, 30, (1), 18-22 View citations (6)
  2. Monetary–Fiscal Interactions: How to Improve Policy Outcomes?
    Economic Papers, 2011, 30, (1), 1-5 View citations (2)
  3. The Future of Inflation Targeting
    The Economic Record, 2011, 87, (s1), 23-36 Downloads View citations (10)
  4. Welfare-Based Optimal Monetary Policy with Unemployment and Sticky Prices: A Linear-Quadratic Framework
    American Economic Journal: Macroeconomics, 2011, 3, (2), 130-62 Downloads View citations (66)
    See also Working Paper (2009)

2010

  1. Commentary: Using Models for Monetary Policy Analysis
    International Journal of Central Banking, 2010, 6, (1), 259-270 Downloads

2009

  1. Inflation Targeting: What Have We Learned?
    International Finance, 2009, 12, (2), 195-233 Downloads View citations (108)
  2. Using monetary policy to stabilize economic activity
    Proceedings - Economic Policy Symposium - Jackson Hole, 2009, 245-296 Downloads View citations (18)

2008

  1. Monetary Policy Under Uncertainty and Learning: An Overview
    Journal Economía Chilena (The Chilean Economy), 2008, 11, (3), 5-19 Downloads View citations (3)
    See also Working Paper (2008)
    Chapter (2009)
  2. Vacancies, unemployment, and the Phillips curve
    European Economic Review, 2008, 52, (8), 1494-1521 Downloads View citations (72)
    See also Working Paper (2007)

2007

  1. Optimal Economic Transparency
    International Journal of Central Banking, 2007, 3, (1), 5-36 Downloads View citations (81)
    See also Working Paper (2007)

2006

  1. Optimal monetary policy with the cost channel
    Journal of Monetary Economics, 2006, 53, (2), 199-216 Downloads View citations (309)

2005

  1. Comment on ‘Market discipline and monetary policy’ by Carl Walsh: a reply
    Oxford Economic Papers, 2005, 57, (4), 740-741 Downloads
  2. Endogenous objectives and the evaluation of targeting rules for monetary policy
    Journal of Monetary Economics, 2005, 52, (5), 889-911 Downloads View citations (45)
  3. INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY
    Macroeconomic Dynamics, 2005, 9, (3), 462-468 Downloads View citations (28)
  4. Labor Market Search, Sticky Prices, and Interest Rate Policies
    Review of Economic Dynamics, 2005, 8, (4), 829-849 Downloads View citations (231)
    See also Working Paper (2003)
  5. Optimal fiscal policy in a monetary union - comments
    Proceedings, 2005 Downloads

2004

  1. October 6, 1979
    FRBSF Economic Letter, 2004, (dec3) Downloads
  2. Precautionary policies
    FRBSF Economic Letter, 2004, (feb.13) Downloads View citations (3)
  3. Robustly Optimal Instrument Rules and Robust Control: An Equivalence Result
    Journal of Money, Credit and Banking, 2004, 36, (6), 1105-13 View citations (32)
  4. The productivity and jobs connection: the long and the short run of it
    FRBSF Economic Letter, 2004, (jul16) Downloads

2003

  1. Accountability, Transparency, and Inflation Targeting
    Journal of Money, Credit and Banking, 2003, 35, (5), 829-49 View citations (41)
  2. Comment on: The zero-interest-rate bound and the role of the exchange rate for monetary policy in Japan
    Journal of Monetary Economics, 2003, 50, (5), 1103-1108 Downloads View citations (6)
  3. Implications of a changing economic structure for the strategy of monetary policy
    Proceedings - Economic Policy Symposium - Jackson Hole, 2003, 297-348 Downloads View citations (52)
    See also Working Paper (2004)
  4. Minding the speed limit
    FRBSF Economic Letter, 2003, (may30) Downloads View citations (8)
  5. Monetary policy and uncertainty: adapting to a changing economy -a symposium, Jackson Hole, Wyoming, August 28-30, 2003
    Proceedings - Economic Policy Symposium - Jackson Hole, 2003 Downloads View citations (4)
  6. Speed Limit Policies: The Output Gap and Optimal Monetary Policy
    American Economic Review, 2003, 93, (1), 265-278 Downloads View citations (226)
    See also Working Paper (2001)

2002

  1. Are contemporary central banks transparent about economic models and objectives and what difference does it make? - commentary
    Review, 2002, 84, (Jul), 37-46 Downloads
  2. Teaching Inflation Targeting: An Analysis for Intermediate Macro
    The Journal of Economic Education, 2002, 33, (4), 333-346 Downloads View citations (36)
  3. The changing budget picture
    FRBSF Economic Letter, 2002, (mar22) Downloads
  4. The role of fiscal policy
    FRBSF Economic Letter, 2002, (sep6) Downloads
  5. When should central bankers be fired?
    Economics of Governance, 2002, 3, (1), 1-21 Downloads View citations (13)

2001

  1. The science (and art) of monetary policy
    FRBSF Economic Letter, 2001, (may4) Downloads
  2. Transparency in monetary policy
    FRBSF Economic Letter, 2001, (sep7) Downloads View citations (4)

2000

  1. Credibilidad, desinflación y contratos del Banco Central: ¿Qué se ha cumplido de la ley del Banco de la Reserva Federal en Nueva Zelanda?
    Revista ESPE - Ensayos Sobre Política Económica, 2000, 18, (36-37), 105-135 Downloads
    Also in Revista ESPE - Ensayos sobre Política Económica, 2000, 18, (36-37), 105-135 (2000) Downloads
  2. Market Discipline and Monetary Policy
    Oxford Economic Papers, 2000, 52, (2), 249-71 View citations (15)
  3. Monetary Policy Design: Institutional Developments from a Contractual Perspective
    International Finance, 2000, 3, (3), 375-389 Downloads View citations (2)
  4. Should central banks stabilize prices?
    FRBSF Economic Letter, 2000, (aug11) Downloads
  5. Uncertainty and monetary policy
    FRBSF Economic Letter, 2000, (mar17) Downloads

1999

  1. Changes in the business cycle
    FRBSF Economic Letter, 1999, (may14) Downloads View citations (1)
  2. Projecting budget surpluses
    FRBSF Economic Letter, 1999, (sep10) Downloads View citations (1)

1998

  1. Central bank inflation targeting
    FRBSF Economic Letter, 1998, (may22) Downloads
  2. The Output-Inflation Tradeoff and Central Bank Reform: Evidence from New Zealand
    Economic Journal, 1998, 108, (448), 703-25 View citations (43)
  3. The natural rate, NAIRU, and monetary policy
    FRBSF Economic Letter, 1998, (sep18) Downloads View citations (5)
  4. The new output-inflation trade-off
    FRBSF Economic Letter, 1998, (feb6) Downloads View citations (3)
  5. U.S. inflation targeting: pro and con
    FRBSF Economic Letter, 1998, (may29) Downloads View citations (9)

1997

  1. Inflation and Central Bank Independence: Is Japan Really an Outlier?
    Monetary and Economic Studies, 1997, 15, (1), 89-117 Downloads View citations (10)
  2. Nobel views on inflation and unemployment
    FRBSF Economic Letter, 1997, (jan10) Downloads
  3. The Old Lady of Threadneedle Street gets her independence
    FRBSF Economic Letter, 1997, (sep12) Downloads

1996

  1. Accountability in practice: recent monetary policy in New Zealand
    FRBSF Economic Letter, 1996, (sep9) Downloads View citations (1)
  2. Central-Bank Independence, Economic Behavior, and Optimal Term Lengths
    American Economic Review, 1996, 86, (5), 1139-53 Downloads View citations (47)
  3. The lender of last resort function under a currency board: The case of Argentina
    Open Economies Review, 1996, 7, (1), 625-650 Downloads View citations (25)
    See also Working Paper (1996)

1995

  1. Bank credit and economic activity
    Conference Series ; [Proceedings], 1995, 39, 83-125 Downloads View citations (1)
  2. Is New Zealand's Reserve Bank Act of 1989 an Optimal Central Bank Contract?
    Journal of Money, Credit and Banking, 1995, 27, (4), 1179-91 Downloads View citations (48)
    See also Working Paper (1994)
  3. Optimal Contracts for Central Bankers
    American Economic Review, 1995, 85, (1), 150-67 Downloads View citations (557)
  4. Output-inflation tradeoffs and central bank independence
    FRBSF Economic Letter, 1995, (sep22) Downloads View citations (5)
  5. Unemployment
    FRBSF Economic Letter, 1995, (sep8) Downloads View citations (2)

1994

  1. A primer on monetary policy. Part 1, goals and instruments
    FRBSF Economic Letter, 1994, (aug5) Downloads
  2. A primer on monetary policy. Part II, targets and indicators
    FRBSF Economic Letter, 1994, (aug19) Downloads
  3. Is there a cost to having an independent central bank?
    FRBSF Economic Letter, 1994, (feb4) Downloads View citations (2)

1993

  1. Central bank strategies, credibility, and independence: A review essay
    Journal of Monetary Economics, 1993, 32, (2), 287-302 Downloads View citations (12)
  2. Federal Reserve independence and the Accord of 1951
    FRBSF Economic Letter, 1993, (may28) Downloads View citations (1)
  3. Optimal contracts for independent central bankers: private information, performance measures and reappointment
    Proceedings, 1993, (Mar) View citations (6)
    See also Working Paper (1993)
  4. What caused the 1990-1991 recession?
    Economic Review, 1993, 33-48 Downloads View citations (6)

1992

  1. A generalized method of moments approach to estimating a "Structural vector autoregression"
    Journal of Macroeconomics, 1992, 14, (2), 199-232 Downloads View citations (3)
  2. EMU and the ECB
    FRBSF Economic Letter, 1992, (jun5) Downloads
  3. Empirical evidence on the insulation properties of fixed and flexible exchange rates: The Japanese experience
    Journal of International Economics, 1992, 32, (3-4), 241-263 Downloads View citations (22)
  4. Presidential popularity, presidential policies
    FRBSF Economic Letter, 1992, (jan31) Downloads
    See also Working Paper (1992)

1991

  1. Inside money and monetary neutrality
    Journal of Macroeconomics, 1991, 13, (3), 395-416 Downloads View citations (6)
    See also Working Paper (1986)
  2. Public preferences and inflation
    FRBSF Economic Letter, 1991, (aug30) Downloads
  3. Testing Intertemporal Budget Constraints: Theory and Applications to U.S. Federal Budget and Current Account Deficits
    Journal of Money, Credit and Banking, 1991, 23, (2), 206-23 Downloads View citations (269)
    See also Working Paper (1988)
  4. The credit crunch and the real bills doctrine
    FRBSF Economic Letter, 1991, (may3) Downloads

1990

  1. Credibility, commitment and inflation policy
    FRBSF Economic Letter, 1990, (nov23) Downloads
  2. Japan's experience with flexible exchange rates
    FRBSF Economic Letter, 1990, (may4) Downloads
  3. Seigniorage and tax smoothing in the United States 1914-1986
    Journal of Monetary Economics, 1990, 25, (1), 97-112 Downloads View citations (16)
    See also Working Paper (1988)

1989

  1. Do deficits cause inflation?
    FRBSF Economic Letter, 1989, (jul21) Downloads
  2. Interest rate smoothing
    FRBSF Economic Letter, 1989, (apr14) Downloads View citations (1)
  3. Optimal inflation
    FRBSF Economic Letter, 1989, (aug4) Downloads View citations (1)
  4. Postwar stability: fact or fiction
    FRBSF Economic Letter, 1989, (oct13) Downloads View citations (1)

1988

  1. Common trends, the government's budget constraint, and revenue smoothing
    Journal of Economic Dynamics and Control, 1988, 12, (2-3), 425-444 Downloads View citations (209)
    See also Working Paper (1987)
  2. Deregulation in New Zealand
    FRBSF Economic Letter, 1988, (oct14) Downloads
  3. Do deficits matter?
    FRBSF Economic Letter, 1988, (jan15) Downloads
  4. Financial intermediation, monetary policy, and equilibrium business cycles
    Economic Review, 1988, (Fall), 19-28 Downloads
  5. Monetary policy in New Zealand
    FRBSF Economic Letter, 1988, (oct21) Downloads
  6. Testing for Real Effects of Monetary Policy Regime Shifts: A Note
    Journal of Money, Credit and Banking, 1988, 20, (3), 393-401 Downloads View citations (7)

1987

  1. Financial deregulation and monetary policy in New Zealand
    Proceedings, 1987, 279-301
  2. Interest rates and exchange rates
    FRBSF Economic Letter, 1987, (jun5) Downloads
  3. Monetary targeting and inflation: 1976-1984
    Economic Review, 1987, (Win), 5-16 Downloads
  4. PORTFOLIO SUBSTITUTION AND RECENT M1 BEHAVIOR
    Contemporary Economic Policy, 1987, 5, (1), 54-63 Downloads View citations (5)
  5. Policy coordination and financial intermediaries
    Economic Review, 1987, (Win), 31-45 Downloads
  6. Real interest rates, credit markets and economic stabilization
    Journal of Macroeconomics, 1987, 9, (1), 95-108 Downloads View citations (3)
    See also Working Paper (1985)
  7. The trade balance and the economic outlook
    FRBSF Economic Letter, 1987, (mar6) Downloads
  8. Three questions concerning nominal and real interest rates
    Economic Review, 1987, (Fall), 5-19 Downloads View citations (8)
  9. \\"Real\\" business cycles
    FRBSF Economic Letter, 1987, (jan30) Downloads

1986

  1. Base drift
    FRBSF Economic Letter, 1986, (feb7) Downloads
  2. Forecasting oil prices
    FRBSF Economic Letter, 1986, (dec5) Downloads
  3. In Defense of Base Drift
    American Economic Review, 1986, 76, (4), 692-700 Downloads View citations (14)
  4. Measuring money
    FRBSF Economic Letter, 1986, (may30) Downloads
  5. New views of the business cycle: has the past emphasis on money been misplaced?
    Business Review, 1986, (Jan), 3-13 Downloads View citations (3)
  6. Projecting deficits
    FRBSF Economic Letter, 1986, (aug1) Downloads
  7. Selling government assets
    FRBSF Economic Letter, 1986, (may16) Downloads
  8. Tax reform
    FRBSF Economic Letter, 1986, (jul11) Downloads

1985

  1. A Rational Expectations Model of Term Premia with Some Implications for Empirical Asset Demand Equations
    Journal of Finance, 1985, 40, (1), 63-83 Downloads View citations (3)
  2. Examining the recent surge in M1
    FRBSF Economic Letter, 1985, (nov15) Downloads
  3. Monetary Policy Regimes, Expected Inflation, and the Response of Interest Rates to Money Announcements
    The Quarterly Journal of Economics, 1985, 100, (Supplement), 1011-1039 Downloads View citations (25)
    See also Working Paper (1983)
  4. Revisions in the \"flash\" estimates of GNP growth: measurement error or forecast error?
    Economic Review, 1985, (Fall), 5-13 Downloads View citations (1)

1984

  1. Interest Rate Volatility and Monetary Policy
    Journal of Money, Credit and Banking, 1984, 16, (2), 133-50 Downloads View citations (16)
    See also Working Paper (1982)
  2. Unanticipated Money and Interest Rates
    American Economic Review, 1984, 74, (2), 49-54 Downloads View citations (2)
    See also Working Paper (1984)

1983

  1. Asset prices, asset stocks and rational expectations
    Journal of Monetary Economics, 1983, 11, (3), 337-349 Downloads View citations (2)
  2. Should the Federal Reserve establish a real interest rate target?
    Economic Review, 1983, 68, (Jun), 22-33 Downloads View citations (1)
  3. Taxation of Interest Income, Deregulation and the Banking Industry
    Journal of Finance, 1983, 38, (5), 1529-42 Downloads View citations (5)

1982

  1. Asset substitutability and monetary policy: An alternative characterization
    Journal of Monetary Economics, 1982, 9, (1), 59-71 Downloads View citations (7)
  2. The Federal Reserve's operating procedures and interest rate fluctuations
    Economic Review, 1982, 67, (May), 8-18 Downloads
  3. The effects of alternative operating procedures on economic and financial relationships
    Proceedings - Economic Policy Symposium - Jackson Hole, 1982, 133-180 Downloads View citations (4)

Books

2010

  1. Monetary Theory and Policy, Third Edition, vol 1
    MIT Press Books, The MIT Press View citations (273)

2003

  1. Monetary Theory and Policy, 2nd Edition, vol 1
    MIT Press Books, The MIT Press View citations (502)

Chapters

2016

  1. Goals versus Rules as Central Bank Performance Measures
    Chapter 3 in Central Bank Governance & Oversight Reform, 2016 Downloads

2009

  1. Monetary Policy and Key Unobservables: Evidence from Large Industrial and Selected Inflation-Targeting Countries
    Chapter 9 in Monetary Policy under Uncertainty and Learning, 2009, vol. 13, pp 285-370 Downloads View citations (1)
    See also Working Paper (2009)
  2. Monetary Policy under Uncertainty and Learning: An Overview
    Chapter 1 in Monetary Policy under Uncertainty and Learning, 2009, vol. 13, pp 001-025 Downloads View citations (4)
    See also Journal Article in Journal Economía Chilena (The Chilean Economy) (2008)
    Working Paper (2008)

2007

  1. Transparency, Flexibility, and Inflation Targeting
    Chapter 7 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 227-263 Downloads View citations (2)
    See also Working Paper (2006)

1999

  1. Academic Views of Capital Flows: An Expanding Universe
    A chapter in Capital Flows and the International Financial System, 1999 Downloads View citations (2)
  2. Capital Flows and Exchange Rates
    A chapter in Capital Flows and the International Financial System, 1999 Downloads View citations (6)

1995

  1. Recent Central-Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy
    A chapter in NBER Macroeconomics Annual 1995, Volume 10, 1995, pp 237-252 Downloads View citations (8)

Software Items

2003

  1. Matlab codes for various monetary models
    QM&RBC Codes, Quantitative Macroeconomics & Real Business Cycles Downloads
 
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