Details about Alexander L. Wolman

Access statistics for papers by Alexander L. Wolman.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

Short-id: pwo18

Working Papers

2024

1. The Relationship Between Inflation and the Distribution of Relative Price Changes
   Working Paper, Federal Reserve Bank of Richmond

2022

2. Relative Price Shocks and Inflation
   Working Paper, Federal Reserve Bank of Richmond View citations (3)

2019

3. Investigating Nonneutrality in a State-Dependent Pricing Model with Firm-Level Productivity Shocks
   Working Papers, Federal Reserve Bank of Philadelphia View citations (1)
   See also Journal Article INVESTIGATING NONNEUTRALITY IN A STATE‐DEPENDENT PRICING MODEL WITH FIRM‐LEVEL PRODUCTIVITY SHOCKS, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2020) View citations (5) (2020)

2018

4. Inflation and Real Activity with Firm Level Productivity Shocks
   Working Papers, Federal Reserve Bank of Philadelphia View citations (3)
   Also in 2009 Meeting Papers, Society for Economic Dynamics (2009) View citations (11)
   Working Papers, Federal Reserve Bank of Philadelphia (2013) View citations (6)

2014

5. Monetary Policy and Global Equilibria in an Economy with Capital
   2014 Meeting Papers, Society for Economic Dynamics View citations (1)
6. Payment Choice and the Future of Currency: Insights from Two Billion Retail Transactions
   Working Paper, Federal Reserve Bank of Richmond View citations (13)

2012

7. Large excess reserves in the U.S.: a view from the cross-section of banks
   Working Paper, Federal Reserve Bank of Richmond View citations (4)

2011

8. Discretionary monetary policy in the Calvo model
   Working Paper, Federal Reserve Bank of Richmond View citations (9)
   Also in Research Working Paper, Federal Reserve Bank of Kansas City (2010) View citations (6)
   See also Journal Article Discretionary monetary policy in the Calvo model, Quantitative Economics, Econometric Society (2019) (2019)

2009

9. The optimal rate of inflation with trending relative prices
   Working Paper, Federal Reserve Bank of Richmond View citations (4)
   See also Journal Article The Optimal Rate of Inflation with Trending Relative Prices, Journal of Money, Credit and Banking, Blackwell Publishing (2011) View citations (8) (2011)

2005

10. Sychronization and Staggering in a Model of State-Dependent Pricing
    Computing in Economics and Finance 2005, Society for Computational Economics

2004

11. An inquiry into the existence and uniqueness of equilibrium with state-dependent pricing
    Working Paper, Federal Reserve Bank of Richmond View citations (10)
12. Monetary discretion, pricing complementarity and dynamic multiple equilibria
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (98)
    Also in Working Paper Series, European Central Bank (2004) View citations (99)
    Working Paper, Federal Reserve Bank of Richmond (2004) View citations (95)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (69)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (5)
    See also Journal Article Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria, The Quarterly Journal of Economics, President and Fellows of Harvard College (2004) View citations (96) (2004)

2003

13. Fiscal policy and regional inflation in a currency union
    Working Paper, Federal Reserve Bank of Richmond View citations (10)
    See also Journal Article Fiscal policy and regional inflation in a currency union, Journal of International Economics, Elsevier (2008) View citations (32) (2008)
14. Real implications of the zero bound on nominal interest rates
    Working Paper, Federal Reserve Bank of Richmond View citations (6)
    Also in Computing in Economics and Finance 1999, Society for Computational Economics (1999) View citations (6)
    See also Journal Article Real Implications of the Zero Bound on Nominal Interest Rates, Journal of Money, Credit and Banking, Blackwell Publishing (2005) View citations (83) (2005)

2002

15. Optimal Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    Also in Working Papers, Federal Reserve Bank of Philadelphia (2002) View citations (56)
    Working Paper, Federal Reserve Bank of Richmond (2000) View citations (39)
    Working Papers, Federal Reserve Bank of Philadelphia (2001) View citations (2)
    See also Journal Article Optimal Monetary Policy, The Review of Economic Studies, Review of Economic Studies Ltd (2003) View citations (267) (2003)
16. Regional inflation in a currency union: fiscal policy vs. fundamentals
    Working Paper Series, European Central Bank View citations (42)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (34)

2001

17. The pitfalls of discretionary monetary policy
    Working Papers, Federal Reserve Bank of Philadelphia View citations (2)
18. The pitfalls of monetary discretion
    Working Paper, Federal Reserve Bank of Richmond View citations (5)

1999

19. Does state-dependent pricing imply coordination failure?
    Working Paper, Federal Reserve Bank of Richmond View citations (3)

1997

20. State-dependent pricing and the dynamics of business cycles
    Working Paper, Federal Reserve Bank of Richmond View citations (18)

1996

21. Inflation Targeting in a St. Louis Model of the 21st Century
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (295)
    See also Journal Article Inflation Targeting in a St. Louis Model of the 21st Century, Review, Federal Reserve Bank of St. Louis (2013) View citations (1) (2013)

Journal Articles

2024

1. A Model-Based Perspective on Inflation and the Distribution of Relative Price Changes
   Richmond Fed Economic Brief, 2024, 24, (30)
2. Inflation and Relative Price Changes Since the Onset of the Pandemic
   Richmond Fed Economic Brief, 2024, 24, (09)

2023

3. A Small Contribution to Measuring the Lags in Monetary Policy Transmission
   Richmond Fed Economic Brief, 2023, 23, (30)
4. Detecting Inflation Instability
   Richmond Fed Economic Brief, 2023, 23, (11)

2022

5. Anticipated FOMC Policy, Inflation and Credibility
   Richmond Fed Economic Brief, 2022, 22, (37)
6. Relative Price Changes Are Unlikely to Account for Recent High Inflation
   Richmond Fed Economic Brief, 2022, 22, (10) View citations (1)

2021

7. How Broad-Based Is the Recent High Inflation?
   Richmond Fed Economic Brief, 2021, 21, (30)
8. What Does the FOMC's Shift in Fed Funds Rate Target Language Mean?
   Richmond Fed Economic Brief, 2021, 21, (22)

2020

9. INVESTIGATING NONNEUTRALITY IN A STATE‐DEPENDENT PRICING MODEL WITH FIRM‐LEVEL PRODUCTIVITY SHOCKS
   International Economic Review, 2020, 61, (1), 159-188 View citations (5)
   See also Working Paper Investigating Nonneutrality in a State-Dependent Pricing Model with Firm-Level Productivity Shocks, Working Papers (2019) View citations (1) (2019)

2019

10. Discretionary monetary policy in the Calvo model
    Quantitative Economics, 2019, 10, (1), 387-418
    See also Working Paper Discretionary monetary policy in the Calvo model, Working Paper (2011) View citations (9) (2011)

2018

11. Editors introduction: The renewal of the Canadian inflation-control target
    Canadian Journal of Economics, 2018, 51, (3), 799-801
    Also in Canadian Journal of Economics/Revue canadienne d'économique, 2018, 51, (3), 799-801 (2018)
12. Have Yield Curve Inversions Become More Likely?
    Richmond Fed Economic Brief, 2018, (December) View citations (1)
13. The Decline in Currency Use at a National Retail Chain
    Economic Quarterly, 2018, (2Q), 53-77

2017

14. What Two Billion Retail Transactions Reveal about Consumers’ Choice of Payments
    Richmond Fed Economic Brief, 2017, (April)

2016

15. Consumer Payment Choice in the Fifth District: Learning from a Retail Chain
    Economic Quarterly, 2016, (1Q), 51-78
16. How Did Short-Term Market Rates React to Liftoff?
    Richmond Fed Economic Brief, 2016, (September)
17. Payment choice and currency use: Insights from two billion retail transactions
    Journal of Monetary Economics, 2016, 84, (C), 94-115 View citations (53)

2015

18. Large Excess Reserves in the United States: A View from the Cross-Section of Banks
    International Journal of Central Banking, 2015, 11, (1), 251-289 View citations (34)
19. Relative Price Changes and the Optimal Inflation Rate
    Economic Quarterly, 2015, (3Q), 245-274 View citations (1)

2013

20. Federal Reserve Interdistrict Settlement
    Economic Quarterly, 2013, (2Q), 117-141 View citations (9)
21. Inflation Targeting in a St. Louis Model of the 21st Century
    Review, 2013, (Nov), 543-574 View citations (1)
    Also in Review, 1996, 78, (May), 83-107 (1996) View citations (104)
    Proceedings, 1996, 78, (May), 83-107 (1996) View citations (103)
    See also Working Paper Inflation Targeting in a St. Louis Model of the 21st Century, NBER Working Papers (1996) View citations (295) (1996)

2012

22. A citizen's guide to unconventional monetary policy
    Richmond Fed Economic Brief, 2012, (Dec)

2011

23. Housing and the Great Recession: a VAR accounting exercise
    Economic Quarterly, 2011, 97, (1Q), 45-66
24. K-core inflation
    Economic Quarterly, 2011, 97, (4Q), 415-430
25. The Optimal Rate of Inflation with Trending Relative Prices
    Journal of Money, Credit and Banking, 2011, 43, (2‐3), 355-384 View citations (8)
    Also in Journal of Money, Credit and Banking, 2011, 43, 355-384 (2011) View citations (22)
    See also Working Paper The optimal rate of inflation with trending relative prices, Working Paper (2009) View citations (4) (2009)

2010

26. Excess reserves and the new challenges for monetary policy
    Richmond Fed Economic Brief, 2010, (Mar) View citations (4)
27. Monetary policy and global equilibria in a production economy
    Economic Quarterly, 2010, 96, (4Q), 317-337 View citations (4)

2008

28. Fiscal policy and regional inflation in a currency union
    Journal of International Economics, 2008, 74, (2), 384-401 View citations (32)
    See also Working Paper Fiscal policy and regional inflation in a currency union, Working Paper (2003) View citations (10) (2003)
29. Nominal frictions, relative price adjustment, and the limits to monetary policy
    Economic Quarterly, 2008, 94, (Sum), 219-233 View citations (4)
30. Steady-state equilibrium with state-dependent pricing
    Journal of Monetary Economics, 2008, 55, (2), 383-405 View citations (8)

2007

31. Comment on: "Reconsidering the natural rate hypothesis in a new Keynesian framework," by Andrew Levin and Tack Yun
    Journal of Monetary Economics, 2007, 54, (5), 1366-1371
32. Currency quality and changes in the behavior of depository institutions
    Economic Quarterly, 2007, 93, (Fall), 361-391
33. The frequency and costs of individual price adjustment
    Managerial and Decision Economics, 2007, 28, (6), 531-552 View citations (47)
    Also in Economic Quarterly, 2000, (Fall), 1-22 (2000) View citations (31)

2006

34. Bond price premiums
    Economic Quarterly, 2006, 92, (Fall), 317-336 View citations (1)

2005

35. Inflation and changing expenditure shares
    Economic Quarterly, 2005, 91, (Win), 1-20 View citations (1)
36. Real Implications of the Zero Bound on Nominal Interest Rates
    Journal of Money, Credit and Banking, 2005, 37, (2), 273-96 View citations (83)
    See also Working Paper Real implications of the zero bound on nominal interest rates, Working Paper (2003) View citations (6) (2003)
37. Trend inflation, firm-specific capital, and sticky prices
    Economic Quarterly, 2005, 91, (Fall), 57-83 View citations (23)

2004

38. Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria
    The Quarterly Journal of Economics, 2004, 119, (4), 1513-1553 View citations (96)
    Also in Proceedings, 2003 (2003) View citations (10)
    See also Working Paper Monetary discretion, pricing complementarity and dynamic multiple equilibria, CFS Working Paper Series (2004) View citations (98) (2004)

2003

39. Boom and bust in telecommunications
    Economic Quarterly, 2003, 89, (Fall), 1-24 View citations (8)
40. Optimal Monetary Policy
    The Review of Economic Studies, 2003, 70, (4), 825-860 View citations (267)
    See also Working Paper Optimal Monetary Policy, NBER Working Papers (2002) View citations (31) (2002)
41. Potential consequences of linear approximation in economics
    Economic Quarterly, 2003, 89, (Win), 51-67 View citations (8)

2001

42. A primer on optimal monetary policy with staggered price-setting
    Economic Quarterly, 2001, (Fall), 27-52 View citations (21)

1999

43. State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output
    The Quarterly Journal of Economics, 1999, 114, (2), 655-690 View citations (663)
44. Sticky prices, marginal cost, and the behavior of inflation
    Economic Quarterly, 1999, (Fall), 29-48 View citations (119)

1998

45. Staggered price setting and the zero bound on nominal interest rates
    Economic Quarterly, 1998, (Fall), 1-24 View citations (60)

1997

46. Zero inflation and the Friedman rule: a welfare comparison
    Economic Quarterly, 1997, (Fall), 1-21 View citations (25)

Chapters

1999

1. What Should the Monetary Authority Do When Prices Are Sticky?
   A chapter in Monetary Policy Rules, 1999, pp 349-404 View citations (302)