Details about Christopher Waller

Homepage:	http://research.stlouisfed.org/econ/waller/
Workplace:	Federal Reserve Board (Board of Governors of the Federal Reserve System), (more information at EDIRC)

Access statistics for papers by Christopher Waller.

Last updated 2023-02-24. Update your information in the RePEc Author Service.

Short-id: pwa65

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Working Papers

2025

1. A Tale of Two Outlooks: A speech at the Certified Financial Analysts Society of St. Louis, St. Louis, Missouri., April 14, 2025
   Speech, Board of Governors of the Federal Reserve System (U.S.)
   Also in Speech, Board of Governors of the Federal Reserve System (U.S.) (2025)
2. Challenges Facing Central Bankers: A speech at Lectures of the Governor, Organization for Economic Cooperation and Development, Paris, France., January 8, 2025
   Speech, Board of Governors of the Federal Reserve System (U.S.)
3. Disinflation Progress Uneven but Still on Track Rates Cuts on Track as Well., A speech at the University of New South Wales Macroeconomic Workshop, Sydney, New South Wales, Australia., February 17, 2025
   Speech, Board of Governors of the Federal Reserve System (U.S.)
4. Reflections on a Maturing Stablecoin Market: A speech at A Very Stable Conference, San Francisco, California., February 12, 2025
   Speech, Board of Governors of the Federal Reserve System (U.S.)
5. Statement by Governor Christopher J. Waller: A speech at Federal Open Market Committee (FOMC) meeting., March 21, 2025
   Speech, Board of Governors of the Federal Reserve System (U.S.)

2024

6. Almost as Good as It Gets…But Will It Last: A speech at The Brookings Institution, Washington, D.C., January 16, 2024
   Speech, Board of Governors of the Federal Reserve System (U.S.)
7. Centralized and Decentralized Finance: Substitutes or Complements: A speech at the Vienna Macroeconomics Workshop, Institute of Advanced Studies, Vienna, Austria., October 18, 2024
   Speech, Board of Governors of the Federal Reserve System (U.S.)
8. Cut or Skip?: A speech at Building a Better Fed Framework," American Institute for Economic Research Monetary Conference, Washington, D.C., December 2, 2024
   Speech, Board of Governors of the Federal Reserve System (U.S.)
9. Getting Closer: A speech at the Federal Reserve Bank of Kansas City, Kansas City, Missouri., July 17, 2024
   Speech, Board of Governors of the Federal Reserve System (U.S.)
10. Interlinking Fast Payment Systems: A speech at the Global Fintech Fest, Mumbai, India., August 28, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
11. Little by Little, Progress Seems to be Resuming: A speech at the Peterson Institute for International Economics, Washington, D.C., May 21, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)
12. Opening Remarks: A speech at the Summer Workshop on Money, Banking, Payments, and Finance, Washington, D.C., August 19, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
13. Payments Innovation, Technical Standards, and the Federal Reserve's Roles: A speech at the International Organization for Standardization Technical Committee 68 Financial Services 44th Plenary Meeting, hosted by the Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota., May 17, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
14. Some Thoughts on r*: Why Did It Fall and Will It Rise?: A speech at the Reykjavik Economic Conference, Reykjavik, Iceland., May 24, 2025
    Speech, Board of Governors of the Federal Reserve System (U.S.)
15. The Dollar's International Role: A speech at Climate, Currency, and Central Banking," a conference sponsored by the Global Interdependence Center and the University of the Bahamas, Nassau, Bahamas., February 15, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
16. The Federal Reserve’s responses to the post-Covid period of high inflation
    FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
17. The Time Has Come: A speech at the University of Notre Dame, Notre Dame, Indiana., September 6, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
18. There’s Still No Rush: A speech at the Economic Club of New York, New York, New York., March 27, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
19. Thoughts on Quantitative Tightening, Including Remarks on the Paper "Quantitative Tightening around the Globe: What Have We Learned?": A speech at the 2024 U.S. Monetary Policy Forum, New York, New York., March 1, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
20. Thoughts on the Economy and Policy Rules at the Federal Open Market Committee: A speech at A 50 Year Retrospective on the Shadow Open Market Committee and Its Role in Monetary Policy,” a conference sponsored by the Hoover Institution, Stanford University, Stanford, California., October 14, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
21. Welcoming Remarks on the International Role of the U.S. Dollar: A speech at the Third Conference on the International Roles of the U.S. Dollar, hosted by the Federal Reserve Board, Washington, D.C., May 20, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
22. Welcoming Remarks: speech at the 2024 International Journal of Central Banking Conference, Rome, Italy., June 24, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
23. What Does the Beveridge Curve Tell Us about the Likelihood of Soft Landings?
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)
    Also in FEDS Notes, Board of Governors of the Federal Reserve System (U.S.) (2022) View citations (8)
24. What Roles Should the Private Sector and the Federal Reserve Play in Payments?: A speech at The Clearing House Annual Conference 2024, New York, New York., November 12, 2024
    Speech, Board of Governors of the Federal Reserve System (U.S.)
25. What’s the Rush?: A speech at the Finding Forward Speaker Series, University of St. Thomas, Opus College of Business, Minneapolis, MN
    Speech, Board of Governors of the Federal Reserve System (U.S.)

2023

26. A Case for Cautious Optimism: At the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York, New York January 20th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
27. A Case for Cautious Optimism: a speech at the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York, New York, January 20, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
28. Big Shocks Travel Fast: Why Policy Lags May Be Shorter Than You Think: A speech at the Money Marketeers of New York University, New York, New York, July 13th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
29. Climate Change and Financial Stability: A speech at At the IE University – Banco de España – Federal Reserve Bank of St. Louis Conference Current Challenges in Economics and Finance, Madrid, Spain May 11th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
30. February’s Hot Data Releases: At the Mid-Size Bank Coalition of America, Los Angeles, California (via webcast) March 2nd 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
31. February’s Hot Data Releases: a speech at the Mid-Size Bank Coalition of America, Los Angeles, California (via webcast), March 2, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
32. Financial Stability and Macroeconomic Policy: A speech at "The Future of Macroeconomic Policy,” a conference sponsored by the Norges Bank, the International Monetary Fund, and the IMF Economic Review, Oslo, Norway, June 16th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
33. Financial Stabilization and Macroeconomic Stabilization: Two Tools for Two Problems: a speech at the Graybar National Training Conference, San Antonio, Texas, April 14, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
34. Hike, Skip, or Pause?: A speech At the 2023 Santa Barbara County Economic Summit, University of California, Santa Barbara Economic Forecast Project, Santa Barbara, California (via webcast), May 24th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
35. Innovation and the Future of Finance: a speech at the Cryptocurrency and the Future of Global Finance, Sarasota, Florida, April 20, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
36. Monetary Policy Analysis and the Development of Federal Reserve Policymaking: A speech at The Legacy of Bennett McCallum and Lessons for Monetary Policy Today," a conference sponsored by the Mercatus Center at George Mason University, Washington, D.C., October 10, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
37. On the Essentiality of Credit and Banking at Zero Interest Rates
    Working Papers, Federal Reserve Bank of Cleveland
38. Something Appears to Be Giving: A speech at the American Enterprise Institute, Washington, D.C., November 28, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
39. Something’s Got to Give: A speech at the Distinguished Speaker Seminar, European Economics and Financial Center, London, United Kingdom, October 18, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
40. The Inflation Rate for Necessities: A Look at Food, Energy and Shelter Inflation, a speech at the 2023 Arkansas State University Agribusiness Conference, Jonesboro, Arkansas, February 8, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
41. The Inflation Rate for Necessities: A Look at Food, Energy and Shelter Inflation: At the 2023 Arkansas State University Agribusiness Conference, Jonesboro, Arkansas February 8th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
42. The Unstable Phillips Curve: a speech at the Macroeconomics and Monetary Policy, a conference sponsored by the Federal Reserve Bank of San Francisco, San Francisco, California, March 31, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
43. Thoughts on the Crypto Ecosystem, a speech at the Global Interdependence Center Conference: Digital Money, Decentralized Finance, and the Puzzle of Crypto, La Jolla, California, February 10, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
44. Thoughts on the Crypto Ecosystem: At the Global Interdependence Center Conference: Digital Money, Decentralized Finance, and the Puzzle of Crypto, La Jolla, California February 10th 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
45. Using Economic Data to Understand the Economy: A speech at Beyond the Numbers, a conference hosted by the Research Division of the Federal Reserve Bank of St. Louis, St. Louis, Missouri., November 7, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
46. Welcome Remarks: A speech at the Economics of Payments XII Conference, Washington D.C., October 26, 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)
47. Welcoming Remarks: A speech at the 2023 International Journal of Central Banking Conference, Dublin, Ireland, June 22rd 2023
    Speech, Board of Governors of the Federal Reserve System (U.S.)

2022

48. Fighting Inflation with Rate Hikes and Balance Sheet Reduction, a speech at the Economic Forecast Project, University of California, Santa Barbara, Santa Barbara, California, February 24, 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
49. Lessons Learned on Normalizing Monetary Policy, a speech at “Monetary Policy at a Crossroads,” a panel discussion hosted by the Dallas Society for Computational Economics, Dallas, Texas, June 18, 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
50. Monetary Policy in a World of Conflicting Data, a speech at Rocky Mountain Economic Summit Global Interdependence Center, Victor, Idaho, July 14, 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
51. Reflections on Monetary Policy in 2021: a speech at the 2022 Hoover Institution Monetary Conference, Stanford, California, May 6, 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
52. Responding to High Inflation, with Some Thoughts on a Soft Landing: a speech at the Institute for Monetary and Financial Stability (IMFS) Distinguished Lecture, Goethe University Frankfurt, Germany, May 30, 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
53. Risk in the Crypto Markets: a speech at the SNB-CIF Conference on Cryptoassets and Financial Innovation, Zürich, Switzerland, June 3, 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
54. The Economic Outlook and a Word of Caution on Inflation: At the 59th Annual Economic Forecast Luncheon, Phoenix, Arizona November 16th 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
55. The Economic Outlook with a Look at the Housing Market: At the Mark C. Berger Workshop Series, University of Kentucky, Lexington, Kentucky October 6th 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
56. The Economic Outlook: Time to Let the Data Do the Talking: At the 17th Annual Vienna Macroeconomics Workshop (2022), Vienna, Austria September 9th 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)
57. The U.S. Dollar and Central Bank Digital Currencies: At "Digital Currencies and National Security Tradeoffs," a symposium presented by the Harvard National Security Journal, Cambridge, Massachusetts October 14th 2022
    Speech, Board of Governors of the Federal Reserve System (U.S.)

2021

58. A Hopeless and Imperative Endeavor: Lessons from the Pandemic for Economic Forecasters: a speech at the Forecasters Club of New York, New York, New York, December 17, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)
59. Economic Outlook: a speech at the Center for Financial Stability, New York, New York, November 19, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)
60. Reflections on Stablecoins and Payments Innovations: a speech at "Planning for Surprises, Learning from Crises" 2021 Financial Stability Conference, cohosted by the Federal Reserve Bank of Cleveland and the Office of Financial Research, Cleveland, Ohio (via webcast), November 18, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)
61. The Economic Outlook and Monetary Policy: a speech at the Global Interdependence Center's 39th Annual Monetary and Trade Conference, The LeBow College of Business, Drexel University, Philadelphia, Pennsylvania (via webcast), May 13, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)
62. The Economic Outlook and a Cautionary Tale on “Idiosyncratic” Price Changes and Inflation: a speech at the Stanford Institute for Economic Policy Research Associates Meeting, Stanford, California (via webcast), October 19, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)
63. Treasury–Federal Reserve Cooperation and the Importance of Central Bank Independence: a speech at the Peterson Institute for International Economics, Washington, D.C. (via webcast), March 29, 2021
    Speech, Board of Governors of the Federal Reserve System (U.S.)

2020

64. On the Essentiality of Credit and Banking at the Friedman Rule
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
65. Optimal Taxes Under Private Information: The Role of the Inflation
    Working Papers, Federal Reserve Bank of St. Louis View citations (2)

2019

66. What is the Value of Being a Superhost?
    Working Papers, Federal Reserve Bank of St. Louis
    Also in 2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (1)

2017

67. Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level
    Working Papers, Federal Reserve Bank of St. Louis View citations (5)
    See also Journal Article Liquidity premiums on government debt and the fiscal theory of the price level, Journal of Economic Dynamics and Control, Elsevier (2018) View citations (18) (2018)
68. On the Theoretical Efficacy of Quantitative Easing at the Zero Lower Bound
    2017 Meeting Papers, Society for Economic Dynamics
    Also in Working Papers, Federal Reserve Bank of St. Louis (2015) View citations (11)
    Working Paper Series, Sveriges Riksbank (Central Bank of Sweden) (2015) View citations (9)

2015

69. Monetary policy with asset-backed money
    ECON - Working Papers, Department of Economics - University of Zurich
    Also in Working Papers, Federal Reserve Bank of St. Louis (2013) View citations (1)
    See also Journal Article Monetary policy with asset-backed money, Journal of Economic Theory, Elsevier (2016) View citations (16) (2016)
70. Nominal Exchange Rate Determinacy Under the Threat of Currency Counterfeiting
    Working Papers, Federal Reserve Bank of St. Louis View citations (1)
    See also Journal Article Nominal Exchange Rate Determinacy under the Threat of Currency Counterfeiting, American Economic Journal: Macroeconomics, American Economic Association (2017) View citations (26) (2017)

2014

71. Breaking the curse of Kareken and Wallace with private information
    Working Papers, Deakin University, Department of Economics

2013

72. Breaking the Kareken and Wallace Indeterminacy Result
    ANU Working Papers in Economics and Econometrics, Australian National University, College of Business and Economics, School of Economics
73. Floor systems for implementing monetary policy: Some unpleasant fiscal arithmetic
    ECON - Working Papers, Department of Economics - University of Zurich View citations (6)
    See also Journal Article Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2014) View citations (18) (2014)
74. Monetary Policy in Private Money Economies
    2013 Meeting Papers, Society for Economic Dynamics View citations (1)
75. Optimal Stabilization Policy with Search Externalities
    MPRA Paper, University Library of Munich, Germany
    See also Journal Article OPTIMAL STABILIZATION POLICY WITH SEARCH EXTERNALITIES, Macroeconomic Dynamics, Cambridge University Press (2015) View citations (18) (2015)

2012

76. Demographics, Redistribution, and Optimal Inflation
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (38)
    Also in Speech, Federal Reserve Bank of St. Louis (2012) View citations (11)
    See also Journal Article Demographics, redistribution, and optimal inflation, Review, Federal Reserve Bank of St. Louis (2012) View citations (11) (2012)
77. Optimal disclosure policy and undue diligence
    Working Papers, Federal Reserve Bank of St. Louis
    Also in ECON - Working Papers, Department of Economics - University of Zurich (2011) View citations (1)
    See also Journal Article Optimal disclosure policy and undue diligence, Journal of Economic Theory, Elsevier (2014) View citations (40) (2014)

2011

78. Quantifying the shadow economy: measurement with theory
    Working Papers, Federal Reserve Bank of St. Louis View citations (4)

2010

79. Channel Systems: Why is there a Positive Spread?
    CESifo Working Paper Series, CESifo View citations (4)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2010) View citations (3)
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich (2010) View citations (4)
80. Introduction to the macroeconomic dynamics: special issues on money, credit, and liquidity
    Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
    See also Journal Article INTRODUCTION TO THE MACROECONOMIC DYNAMICS SPECIAL ISSUES ON MONEY, CREDIT, AND LIQUIDITY, Macroeconomic Dynamics, Cambridge University Press (2011) (2011)
81. Outside versus Inside Bonds: A Modigliani-Miller Type Result for Liquidity Constrained Economies
    CESifo Working Paper Series, CESifo View citations (2)
    Also in Working Papers, Federal Reserve Bank of St. Louis (2009) View citations (1)
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich (2009) View citations (3)
    See also Journal Article Outside versus inside bonds: A ModiglianiâMiller type result for liquidity constrained economies, Journal of Economic Theory, Elsevier (2011) View citations (40) (2011)

2009

82. Dynamic taxation, private information and money
    Working Papers, Federal Reserve Bank of St. Louis View citations (10)
    Also in 2008 Meeting Papers, Society for Economic Dynamics (2008) View citations (1)
83. Money and capital: a quantitative analysis
    Working Papers, Federal Reserve Bank of St. Louis View citations (6)
84. Optimal Stabilization with Endogenous Firm Entry
    2009 Meeting Papers, Society for Economic Dynamics View citations (7)
85. Optimal stabilization policy with endogenous firm entry
    Working Papers, Federal Reserve Bank of St. Louis View citations (16)
86. Price level targeting and stabilization policy
    Working Papers, Federal Reserve Bank of St. Louis View citations (5)
    See also Journal Article Price-level targeting and stabilization policy, Review, Federal Reserve Bank of St. Louis (2013) View citations (6) (2013)
87. Random matching and money in the neoclassical growth model: some analytical results
    Working Papers, Federal Reserve Bank of St. Louis View citations (10)
    See also Journal Article RANDOM MATCHING AND MONEY IN THE NEOCLASSICAL GROWTH MODEL: SOME ANALYTICAL RESULTS, Macroeconomic Dynamics, Cambridge University Press (2011) View citations (16) (2011)

2008

88. Outside Versus Inside Bonds
    IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (21)

2007

89. Money and capital
    Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (18)
    Also in 2005 Meeting Papers, Society for Economic Dynamics (2005) View citations (20)
    See also Journal Article Money and capital, Journal of Monetary Economics, Elsevier (2011) View citations (69) (2011)
90. The Societal Benefits of Outside versus Inside Bonds
    2007 Meeting Papers, Society for Economic Dynamics View citations (3)

2005

91. Bargaining and the value of money
    Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (11)
    See also Journal Article Bargaining and the value of money, Journal of Monetary Economics, Elsevier (2007) View citations (131) (2007)
92. Bargaining in Monetary Economies
    2005 Meeting Papers, Society for Economic Dynamics View citations (2)
93. Intensive vs Extensive Margin Tradeoffs in a Simple Monetary Search Model
    Working Papers ERMES, ERMES, University Paris 2
    See also Journal Article Intensive vs extensive margin tradeoffs in a simple monetary search model, Annals of Economics and Statistics, GENES (2007) (2007)
94. Money, Credit and Banking
    CESifo Working Paper Series, CESifo View citations (17)
    Also in IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (252)
    See also Journal Article Money, credit and banking, Journal of Economic Theory, Elsevier (2007) View citations (218) (2007)
95. Optimal Stabilization Policies in a Model with Financial Intermediation
    2005 Meeting Papers, Society for Economic Dynamics
96. Optimal Stabilization Policy with Flexible Prices
    CESifo Working Paper Series, CESifo View citations (6)

2003

97. Currency competition in a fundamental model of money
    Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (2)
    See also Journal Article Currency competition in a fundamental model of money, Journal of International Economics, Elsevier (2004) View citations (30) (2004)

2002

98. Central bank design in general equilibrium
    Working Papers, Federal Reserve Bank of St. Louis View citations (8)
    See also Journal Article Central Bank Design in General Equilibrium, Journal of Money, Credit and Banking, Blackwell Publishing (2004) View citations (36) (2004)

2001

99. Currency Portfolios and Currency Exchange in a Search Economy
    Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank View citations (2)

1999

100. Corruption: Top Down or Bottom Up?
     DELTA Working Papers, DELTA (Ecole normale supérieure)
     Also in Working Papers, Laval - Laboratoire Econometrie (1999) View citations (9)
     See also Journal Article Corruption: Top Down or Bottom Up?, Economic Inquiry, Western Economic Association International (2002) View citations (31) (2002)
101. Currency Portfolios and Nominal Exchange Rates in a Dual Currency Search Economy
     Working Papers, London School of Economics - Centre for Labour Economics View citations (5)
     Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (1999) View citations (8)

1998

102. Appointing the median voter of a policy board
     Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (3)

1997

103. A Search Theoretic Model of Legal and Illegal Currency
     Working Papers, Indiana - Center for Econometric Model Research View citations (6)
     See also Journal Article A search-theoretic model of legal and illegal currency, Journal of Monetary Economics, Elsevier (2000) View citations (33) (2000)

1993

104. Central Banking as a Political Principal-Agent Problem
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (23)
     See also Journal Article Central Banking as a Political Principal-Agent Problem, Economic Inquiry, Western Economic Association International (1997) View citations (42) (1997)

1992

105. From EMS to EMU
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
106. The Maastricht Way to EMU
     Princeton Studies in International Economics, International Economics Section, Departement of Economics Princeton University, View citations (19)

1989

107. Discretion, wage indexation, and inflation
     Research Working Paper, Federal Reserve Bank of Kansas City View citations (5)
108. Discretionary monetary policy and socially efficient wage indexation
     Research Working Paper, Federal Reserve Bank of Kansas City View citations (2)
     See also Journal Article Discretionary Monetary Policy and Socially Efficient Wage Indexation, The Quarterly Journal of Economics, President and Fellows of Harvard College (1992) View citations (12) (1992)

Undated

109. The Distribution of Money Balances and the Non-Neutrality of Money
     IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (30)
     See also Journal Article THE DISTRIBUTION OF MONEY BALANCES AND THE NONNEUTRALITY OF MONEY, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2005) View citations (93) (2005)
110. The Distribution of Money and Prices in an Equilibrium with Lotteries
     IEW - Working Papers, Institute for Empirical Research in Economics - University of Zurich View citations (19)
     See also Journal Article The distribution of money and prices in an equilibrium with lotteries, Economic Theory, Springer (2004) View citations (19) (2004)

Journal Articles

2019

1. Gauging Market Responses to Monetary Policy Communication
   Review, 2019, 101, (2), 69-91 View citations (7)

2018

2. Gauging the Evolution of Monetary Policy Communication Before and After the Financial Crisis
   Economic Synopses, 2018, (27), 1-2 View citations (1)
3. Liquidity premiums on government debt and the fiscal theory of the price level
   Journal of Economic Dynamics and Control, 2018, 89, (C), 173-182 View citations (18)
   See also Working Paper Liquidity Premiums on Government Debt and the Fiscal Theory of the Price Level, Working Papers (2017) View citations (5) (2017)

2017

4. Nominal Exchange Rate Determinacy under the Threat of Currency Counterfeiting
   American Economic Journal: Macroeconomics, 2017, 9, (2), 256-73 View citations (26)
   See also Working Paper Nominal Exchange Rate Determinacy Under the Threat of Currency Counterfeiting, Working Papers (2015) View citations (1) (2015)

2016

5. Focus on Low Real Interest Rate Might Be Misplaced
   The Regional Economist, 2016, (Jan) View citations (3)
6. Monetary policy with asset-backed money
   Journal of Economic Theory, 2016, 164, (C), 166-186 View citations (16)
   See also Working Paper Monetary policy with asset-backed money, ECON - Working Papers (2015) (2015)
7. Who Exactly Benefits from Too Big To Fail?
   Economic Synopses, 2016, (13), 1-3

2015

8. Microfoundations of Money: Why They Matter
   Review, 2015, 97, (4), 289-301 View citations (2)
9. OPTIMAL STABILIZATION POLICY WITH SEARCH EXTERNALITIES
   Macroeconomic Dynamics, 2015, 19, (3), 669-700 View citations (18)
   See also Working Paper Optimal Stabilization Policy with Search Externalities, MPRA Paper (2013) (2013)

2014

10. Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic
    Review of Economic Dynamics, 2014, 17, (3), 523-542 View citations (18)
    See also Working Paper Floor systems for implementing monetary policy: Some unpleasant fiscal arithmetic, ECON - Working Papers (2013) View citations (6) (2013)
11. Optimal disclosure policy and undue diligence
    Journal of Economic Theory, 2014, 149, (C), 128-152 View citations (40)
    See also Working Paper Optimal disclosure policy and undue diligence, Working Papers (2012) (2012)
12. The Fed's bloated balance sheet: how we got here and why it's familiar
    The Regional Economist, 2014
13. The shadow economy as an equilibrium outcome
    Journal of Economic Dynamics and Control, 2014, 41, (C), 1-19 View citations (44)

2013

14. Price-level targeting and stabilization policy
    Review, 2013, (Mar), 145-164 View citations (6)
    Also in Journal of Money, Credit and Banking, 2011, 43, 559-580 (2011) View citations (19)
    See also Working Paper Price level targeting and stabilization policy, Working Papers (2009) View citations (5) (2009)

2012

15. Demographics, redistribution, and optimal inflation
    Review, 2012, (Nov), 419-440 View citations (11)
    See also Working Paper Demographics, Redistribution, and Optimal Inflation, IMES Discussion Paper Series (2012) View citations (38) (2012)
16. Sovereign debt: a modern Greek tragedy
    Review, 2012, (Sep), 321-340 View citations (5)
    Also in Annual Report, 2011, 4-19 (2011) View citations (9)
17. State and local debt: growing liabilities jeopardize fiscal health
    The Regional Economist, 2012

2011

18. INTRODUCTION TO THE MACROECONOMIC DYNAMICS SPECIAL ISSUES ON MONEY, CREDIT, AND LIQUIDITY
    Macroeconomic Dynamics, 2011, 15, (S1), 1-9
    See also Working Paper Introduction to the macroeconomic dynamics: special issues on money, credit, and liquidity, Working Paper Series (2010) View citations (1) (2010)
19. Independence + accountability: why the Fed is a well-designed central bank
    Review, 2011, 93, (Sep), 293-302 View citations (8)
20. Money and capital
    Journal of Monetary Economics, 2011, 58, (2), 98-116 View citations (69)
    See also Working Paper Money and capital, Working Papers (Old Series) (2007) View citations (18) (2007)
21. Outside versus inside bonds: A ModiglianiâMiller type result for liquidity constrained economies
    Journal of Economic Theory, 2011, 146, (5), 1852-1887 View citations (40)
    See also Working Paper Outside versus Inside Bonds: A Modigliani-Miller Type Result for Liquidity Constrained Economies, CESifo Working Paper Series (2010) View citations (2) (2010)
22. RANDOM MATCHING AND MONEY IN THE NEOCLASSICAL GROWTH MODEL: SOME ANALYTICAL RESULTS
    Macroeconomic Dynamics, 2011, 15, (S2), 293-312 View citations (16)
    See also Working Paper Random matching and money in the neoclassical growth model: some analytical results, Working Papers (2009) View citations (10) (2009)

2007

23. Bargaining and the value of money
    Journal of Monetary Economics, 2007, 54, (8), 2636-2655 View citations (131)
    See also Working Paper Bargaining and the value of money, Working Papers (Old Series) (2005) View citations (11) (2005)
24. Heterogeneity and Lotteries in Monetary Search Models
    Journal of Money, Credit and Banking, 2007, 39, (2-3), 703-712 View citations (4)
25. Intensive vs extensive margin tradeoffs in a simple monetary search model
    Annals of Economics and Statistics, 2007, (86), 139-148
    See also Working Paper Intensive vs Extensive Margin Tradeoffs in a Simple Monetary Search Model, Working Papers ERMES (2005) (2005)
26. Money, credit and banking
    Journal of Economic Theory, 2007, 135, (1), 171-195 View citations (218)
    See also Working Paper Money, Credit and Banking, CESifo Working Paper Series (2005) View citations (17) (2005)

2005

27. THE DISTRIBUTION OF MONEY BALANCES AND THE NONNEUTRALITY OF MONEY
    International Economic Review, 2005, 46, (2), 465-487 View citations (93)
    See also Working Paper The Distribution of Money Balances and the Non-Neutrality of Money, IEW - Working Papers View citations (30)

2004

28. Central Bank Design in General Equilibrium
    Journal of Money, Credit and Banking, 2004, 36, (1), 95-113 View citations (36)
    See also Working Paper Central bank design in general equilibrium, Working Papers (2002) View citations (8) (2002)
29. Currency competition in a fundamental model of money
    Journal of International Economics, 2004, 64, (2), 521-544 View citations (30)
    See also Working Paper Currency competition in a fundamental model of money, Working Papers (Old Series) (2003) View citations (2) (2003)
30. Dollarization and currency exchange
    Journal of Monetary Economics, 2004, 51, (4), 671-689 View citations (28)
31. The distribution of money and prices in an equilibrium with lotteries
    Economic Theory, 2004, 24, (4), 887-906 View citations (19)
    See also Working Paper The Distribution of Money and Prices in an Equilibrium with Lotteries, IEW - Working Papers View citations (19)

2003

32. Can monetizing trade lower welfare? An example
    Economics Letters, 2003, 81, (2), 179-186 View citations (2)
33. Currency restrictions, government transaction policies and currency exchange
    Economic Theory, 2003, 21, (1), 19-42 View citations (15)
34. Jack of All Trades or a Master of One? Specialization, Trade, and Money
    International Economic Review, 2003, 44, (4), 1275-1294 View citations (12)

2002

35. Corruption: Top Down or Bottom Up?
    Economic Inquiry, 2002, 40, (4), 688-703 View citations (31)
    See also Working Paper Corruption: Top Down or Bottom Up?, DELTA Working Papers (1999) (1999)
36. Modeling monetary economies Bruce Champ and Scott Freeman, 2001, pp. 325
    Atlantic Economic Journal, 2002, 30, (2), 213-217

2000

37. A search-theoretic model of legal and illegal currency
    Journal of Monetary Economics, 2000, 45, (1), 155-184 View citations (33)
    See also Working Paper A Search Theoretic Model of Legal and Illegal Currency, Working Papers (1997) View citations (6) (1997)
38. Dual-currency economies as multiple-payment systems
    Economic Review, 2000, (Q I), 2-13 View citations (27)
39. Policy Boards and Policy Smoothing
    The Quarterly Journal of Economics, 2000, 115, (1), 305-339 View citations (45)

1999

40. Assessing the political viability of labor market reform: the case of employment protection - commentary
    Review, 1999, (May), 89-92 View citations (1)

1997

41. A BENEFIT‐COST ANALYSIS OF DISINFLATION
    Contemporary Economic Policy, 1997, 15, (1), 50-64 View citations (7)
42. Central Banking as a Political Principal-Agent Problem
    Economic Inquiry, 1997, 35, (2), 378-93 View citations (42)
    See also Working Paper Central Banking as a Political Principal-Agent Problem, CEPR Discussion Papers (1993) View citations (23) (1993)

1996

43. Central-Bank Independence, Economic Behavior, and Optimal Term Lengths
    American Economic Review, 1996, 86, (5), 1139-53 View citations (52)

1995

44. Performance contracts for central bankers
    Review, 1995, (Sep), 3-14 View citations (21)

1994

45. An expository model of credit rationing
    Journal of Macroeconomics, 1994, 16, (3), 539-545 View citations (4)

1992

46. A bargaining model of partisan appointments to the central bank
    Journal of Monetary Economics, 1992, 29, (3), 411-428 View citations (60)
47. Discretionary Monetary Policy and Socially Efficient Wage Indexation
    The Quarterly Journal of Economics, 1992, 107, (4), 1451-1460 View citations (12)
    See also Working Paper Discretionary monetary policy and socially efficient wage indexation, Research Working Paper (1989) View citations (2) (1989)
48. The Choice of a Conservative Central Banker in a Multisector Economy
    American Economic Review, 1992, 82, (4), 1006-12 View citations (34)

1991

49. Bashing and Coercion in Monetary Policy
    Economic Inquiry, 1991, 29, (1), 1-13 View citations (20)

1990

50. Administering the window: A game-theoretic model of discount-window borrowing
    Journal of Monetary Economics, 1990, 25, (2), 273-287 View citations (5)

1989

51. Efficiency wages, wage indexation and macroeconomic stabilization
    Economics Letters, 1989, 30, (2), 125-128 View citations (6)
52. Endogenous wage indexation and optimal monetary policy with and without a balanced budget
    Journal of Economics and Business, 1989, 41, (1), 21-31 View citations (3)
53. Islands, Indexation and Monetary Policy
    Economic Inquiry, 1989, 27, (4), 705-17
54. Monetary Policy Games and Central Bank Politics
    Journal of Money, Credit and Banking, 1989, 21, (4), 422-31 View citations (42)
55. Optimal monetary policy and alternative wage indexation schemes in a model with interest-sensitive labor supply
    Journal of Macroeconomics, 1989, 11, (2), 163-180 View citations (1)

1987

56. Reputation building in a monetary policy game
    Journal of Macroeconomics, 1987, 9, (3), 351-371