Details about Michael Woodford

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Workplace:	Department of Economics, School of Arts and Sciences, Columbia University, (more information at EDIRC)

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Working Papers

2022

1. Cognitive Imprecision and Stake-Dependent Risk Attitudes
   NBER Working Papers, National Bureau of Economic Research, Inc

2021

2. Fiscal and Monetary Stabilization Policy at the Zero Lower Bound: Consequences of Limited Foresight
   Staff Working Papers, Bank of Canada
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (13)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (13)
   See also Journal Article in Journal of Monetary Economics (2022)

2020

3. Effective Demand Failures and the Limits of Monetary Stabilization Policy
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (26)
   See also Journal Article in American Economic Review (2022)
4. Neighborhood-Based Information Costs
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   See also Journal Article in American Economic Review (2021)
5. Optimally Imprecise Memory and Biased Forecasts
   CESifo Working Paper Series, CESifo View citations (5)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (5)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (5)
   Working Papers, HAL (2020) View citations (5)
6. Robustly Optimal Monetary Policy in a New Keynesian Model With Housing
   CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany View citations (1)
   Also in CESifo Working Paper Series, CESifo (2020) View citations (1)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (1)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (1)
   See also Journal Article in Journal of Economic Theory (2021)

2019

7. Modeling Imprecision in Perception, Valuation and Choice
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
   See also Journal Article in Annual Review of Economics (2020)
8. Noisy Memory and Over-Reaction to News
   Post-Print, HAL View citations (12)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (13)
   See also Journal Article in AEA Papers and Proceedings (2019)
9. Rational Inattention when Decisions Take Time
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)

2018

10. Adjustment Dynamics During a Strategic Estimation Task
    2018 Meeting Papers, Society for Economic Dynamics View citations (1)
11. Cognitive Imprecision and Small-Stakes Risk Aversion
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
12. Information Costs and Sequential Information Sampling
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Research Papers, Stanford University, Graduate School of Business (2018) View citations (2)
13. Leaning Against Housing Prices as Robustly Optimal Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
    Also in CRC TR 224 Discussion Paper Series, University of Bonn and University of Mannheim, Germany (2018) View citations (9)
    CESifo Working Paper Series, CESifo (2018) View citations (10)
    CFS Working Paper Series, Center for Financial Studies (CFS) (2018) View citations (10)
14. Monetary Policy Analysis when Planning Horizons are Finite
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (43)
    Also in CESifo Working Paper Series, CESifo (2018) View citations (43)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (43)
    See also Chapter (2018)
    Journal Article in NBER Macroeconomics Annual (2019)

2017

15. Empirical Models of Inattentive Adjustment
    2017 Meeting Papers, Society for Economic Dynamics View citations (3)
16. Rational Inattention and Sequential Information Sampling
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
17. Rational Inattention with Sequential Information Sampling
    Research Papers, Stanford University, Graduate School of Business View citations (15)
18. Risk Aversion as a Perceptual Bias
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (24)
    CESifo Working Paper Series, CESifo (2017) View citations (24)

2016

19. Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (3)
    Also in Working Papers Series, Institute for New Economic Thinking (2015) View citations (61)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (77)
    NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (76)
    See also Journal Article in American Economic Review (2019)
20. Discrete Adjustment to a Changing Environment: Experimental Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) View citations (9)
    CESifo Working Paper Series, CESifo (2016) View citations (16)
    See also Journal Article in Journal of Monetary Economics (2017)
21. Quantitative Easing and Financial Stability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (36)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (36)
    See also Chapter (2016)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2016)

2015

22. Credit Frictions and Optimal Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2015) View citations (7)
    Working Paper Research, National Bank of Belgium (2008) View citations (53)
    BIS Working Papers, Bank for International Settlements (2009) View citations (188)
    NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (19)
    See also Journal Article in Journal of Monetary Economics (2016)

2014

23. An Optimizing Neuroeconomic Model of Discrete Choice
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
24. Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (6)
    See also Chapter (2013)
    Journal Article in American Economic Journal: Macroeconomics (2015)

2013

25. Forward Guidance by Inflation-Targeting Central Banks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (44)
26. Macroeconomic Analysis without the Rational Expectations Hypothesis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (145)
    See also Journal Article in Annual Review of Economics (2013)

2012

27. Inflation Targeting and Financial Stability
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (248)
28. Optimal target criteria for stabilization policy
    Staff Reports, Federal Reserve Bank of New York View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (28)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (26)
    NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (25)
    See also Journal Article in Journal of Economic Theory (2017)
29. Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (45)
    Also in Working Papers, University of Mannheim, Department of Economics (2012) View citations (45)
    See also Journal Article in Journal of Monetary Economics (2012)

2010

30. Optimal Monetary Stabilization Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (84)
    See also Chapter (2010)
31. Simple Analytics of the Government Expenditure Multiplier
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (74)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (78)
    See also Journal Article in American Economic Journal: Macroeconomics (2011)
32. The Central Bank's Balance Sheet as an Instrument of Monetary Policy
    2010 Meeting Papers, Society for Economic Dynamics View citations (74)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (85)
    Staff Reports, Federal Reserve Bank of New York (2010) View citations (75)
    See also Journal Article in Journal of Monetary Economics (2011)

2009

33. Conventional and Unconventional Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (79)
    Also in Staff Reports, Federal Reserve Bank of New York (2009) View citations (26)
    See also Journal Article in Review (2010)
34. Credit Spreads and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (48)
    Also in Staff Reports, Federal Reserve Bank of New York (2009) View citations (127)
    See also Journal Article in Journal of Money, Credit and Banking (2010)

2008

35. Information-Constrained State-Dependent Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    See also Journal Article in Journal of Monetary Economics (2009)

2007

36. Does a 'Two-Pillar Phillips Curve' Justify a Two-Pillar Monetary Policy Strategy?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
37. Forecast Targeting as a Monetary Policy Strategy: Policy Rules in Practice
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    See also Chapter (2012)
38. Globalization and Monetary Control
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (68)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (75)
    See also Chapter (2007)
39. How Important is Money in the Conduct of Monetary Policy?
    Levine's Working Paper Archive, David K. Levine View citations (42)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (45)
    Working Paper, Economics Department, Queen's University (2006) View citations (43)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (42)
    See also Journal Article in Journal of Money, Credit and Banking (2008)

2006

40. Linear-Quadratic Approximation of Optimal Policy Problems
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (55)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (84)
    See also Journal Article in Journal of Economic Theory (2012)
41. Optimal Inflation Targeting Under Alternative Fiscal Regimes
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (18)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (25)
    See also Chapter (2007)

2005

42. Central Bank Communication and Policy Effectiveness
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (367)
    See also Journal Article in Proceedings - Economic Policy Symposium - Jackson Hole (2005)
43. Firm-Specific Capital and the New Keynesian Phillips Curve
    MPRA Paper, University Library of Munich, Germany View citations (111)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (118)
    See also Journal Article in International Journal of Central Banking (2005)
44. Optimal Taxation in an RBC Model: A Linear-Quadratic Approach
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (6)
    See also Journal Article in Journal of Economic Dynamics and Control (2006)
45. Robustly Optimal Monetary Policy with Near Rational Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2005) View citations (16)
    See also Journal Article in American Economic Review (2010)

2004

46. Implementing Optimal Policy Through Inflation-Forecast Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (102)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (84)
    See also Chapter (2004)
47. Inflation Stabilization and Welfare: The Case of a Distorted Steady State
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
    Also in 2004 Meeting Papers, Society for Economic Dynamics (2004) View citations (50)
    See also Journal Article in Journal of the European Economic Association (2005)
48. Optimal Monetary and Fiscal Policy in a Liquidity Trap
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (116)
    See also Chapter (2006)
49. Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (25)
    See also Journal Article in Proceedings (2005)
50. Optimal monetary and fiscal policy: a linear-quadratic approach
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (67)
    Also in Working Paper Series, European Central Bank (2004) View citations (120)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (235)
    See also Chapter (2004)
    Journal Article in Proceedings (2003)

2003

51. Optimal Inflation Targeting Rules
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (134)
    See also Chapter (2004)
52. Optimal Interest-Rate Rules: A General Approach
    Levine's Bibliography, UCLA Department of Economics View citations (28)
53. Optimal Interest-Rate Rules: I. General Theory
    Levine's Bibliography, UCLA Department of Economics View citations (147)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (84)
54. Optimal Interest-Rate Rules: II. Applications
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (97)
    Also in Levine's Bibliography, UCLA Department of Economics (2003) View citations (88)
55. Optimal Monetary Policy in a Liquidity Trap
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (121)
56. Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)

2001

57. Fiscal Requirements for Price Stability
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (531)
    See also Journal Article in Journal of Money, Credit and Banking (2001)
58. Imperfect Common Knowledge and the Effects of Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (145)
59. Indicator Variables for Optimal Policy under Asymmetric Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2001) View citations (12)
    See also Journal Article in Journal of Economic Dynamics and Control (2004)
60. Inflation Stabilization and Welfare
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (128)
    See also Journal Article in The B.E. Journal of Macroeconomics (2002)
61. Monetary Policy in the Information Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (137)
    See also Journal Article in Proceedings - Economic Policy Symposium - Jackson Hole (2001)

2000

62. Indicator Variables for Optimal Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (71)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2000) View citations (57)
    Working Paper Series, European Central Bank (2000) View citations (58)
    See also Journal Article in Journal of Monetary Economics (2003)
63. Monetary Policy in a World Without Money
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (138)
    See also Journal Article in International Finance (2000)
64. Optimal Monetary Policy Inertia
    Seminar Papers, Stockholm University, Institute for International Economic Studies View citations (8)
    Also in Working Papers, Stockholm - International Economic Studies (1999) View citations (726)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (748)
    CFS Working Paper Series, Center for Financial Studies (CFS) (1999) View citations (731)
    See also Journal Article in Manchester School (1999)

1999

65. The Cyclical Behavior of Prices and Costs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (451)
    See also Chapter (1999)

1998

66. An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy: Expanded Version
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (315)
67. Interest-Rate Rules in an Estimated Sticky Price Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (161)
    See also Chapter (1999)

1997

68. Doing Without Money: Controlling Inflation in a Post-Monetary World
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    Also in Working Papers, Stockholm - International Economic Studies (1997) View citations (16)
    Seminar Papers, Stockholm University, Institute for International Economic Studies (1997) View citations (22)
    See also Journal Article in Review of Economic Dynamics (1998)
69. Inflation Forecasts and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (415)
    See also Journal Article in Journal of Money, Credit and Banking (1997)

1996

70. Control of the Public Debt: A Requirement for Price Stability?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (406)
    See also Chapter (1998)
71. Imperfect Competition and the Effects of Energy Price Increases on Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (396)
    See also Journal Article in Journal of Money, Credit and Banking (1996)
72. Loan Commitments and Optimal Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    See also Journal Article in Journal of Monetary Economics (1996)

1995

73. Price Level Determinacy Without Control of a Monetary Aggregate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (490)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1995)
74. Rational asset pricing bubbles
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía
    Also in Working Papers, Centro de Investigacion Economica, ITAM (1993) View citations (6)
    See also Journal Article in Econometrica (1997)

1994

75. Is the Business Cycles a Necessary Consequence of Stochastic Growth?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

1993

76. Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (124)
77. Energy Taxes and Aggregate Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Chapter (1994)
78. Real Effects of Monetary Shocks in an Economy with Sequential Purchases
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (37)

1992

79. Aggregate Fluctuations from Independent Sectoral Shocks: Self-Organized Criticality in a Model of Production and Inventory Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    See also Journal Article in Ricerche Economiche (1993)
80. The Optimum Quantity of Money Revisited
    Levine's Working Paper Archive, David K. Levine View citations (90)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (1990) View citations (61)

1991

81. Endogenous Fluctuations
    DELTA Working Papers, DELTA (Ecole normale supérieure)
82. Gross Substitutes in Large Square Economics
    Levine's Working Paper Archive, David K. Levine View citations (3)

1990

83. Cyclical Markups: Theories and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
84. Does Competition Between Currencies Lead to Price Level and Exchange Rate Stability?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
85. Equilibrium Models of Endogenous Fluctuations: an Introduction
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
86. Self-Fulfilling Expectations and Fluctuations in Aggregate Demand
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
87. Stability of Cycles with Adaptive Learning Rules
    DELTA Working Papers, DELTA (Ecole normale supérieure)

1989

88. Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Journal Article in Journal of Political Economy (1992)

1988

89. Equilibruim Models Displaying Endogenous Fluctuations and Chaos: A Survey
    UCLA Economics Working Papers, UCLA Department of Economics
    See also Journal Article in Journal of Monetary Economics (1990)

1986

90. Expectations, Finance and Aggregate Instability
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (9)
91. Learning to Believe in Sunspots
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (2)
    See also Journal Article in Econometrica (1990)

Journal Articles

2022

1. Effective Demand Failures and the Limits of Monetary Stabilization Policy
   American Economic Review, 2022, 112, (5), 1475-1521 View citations (5)
   See also Working Paper (2020)
2. Fiscal and monetary stabilization policy at the zero lower bound: Consequences of limited foresight
   Journal of Monetary Economics, 2022, 125, (C), 18-35 View citations (5)
   See also Working Paper (2021)
3. Outlier blindness: A neurobiological foundation for neglect of financial risk
   Journal of Financial Economics, 2022, 143, (3), 1316-1343 View citations (3)

2021

4. Individual differences in the perception of probability
   PLOS Computational Biology, 2021, 17, (4), 1-25
5. Neighborhood-Based Information Costs
   American Economic Review, 2021, 111, (10), 3225-55 View citations (4)
   See also Working Paper (2020)
6. Robustly optimal monetary policy in a new Keynesian model with housing
   Journal of Economic Theory, 2021, 198, (C) View citations (7)
   See also Working Paper (2020)

2020

7. Emi Nakamura: 2019 John Bates Clark Medalist
   Journal of Economic Perspectives, 2020, 34, (1), 222-39
8. Modeling Imprecision in Perception, Valuation, and Choice
   Annual Review of Economics, 2020, 12, (1), 579-601 View citations (13)
   See also Working Paper (2019)

2019

9. Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis
   American Economic Review, 2019, 109, (1), 86-120 View citations (94)
   See also Working Paper (2016)
10. Diverse motives for human curiosity
    Nature Human Behaviour, 2019, 3, (6), 587-595 View citations (5)
11. Monetary Policy Analysis When Planning Horizons Are Finite
    NBER Macroeconomics Annual, 2019, 33, (1), 1 - 50 View citations (23)
    See also Chapter (2018)
    Working Paper (2018)
12. Noisy Memory and Over-Reaction to News
    AEA Papers and Proceedings, 2019, 109, 557-61 View citations (13)
    See also Working Paper (2019)
13. Policy Options at the Zero Lower Bound When Foresight is Limited
    AEA Papers and Proceedings, 2019, 109, 433-37 View citations (15)

2017

14. Discrete adjustment to a changing environment: Experimental evidence
    Journal of Monetary Economics, 2017, 91, (C), 88-103 View citations (28)
    See also Working Paper (2016)
15. Optimal target criteria for stabilization policy
    Journal of Economic Theory, 2017, 168, (C), 55-106 View citations (22)
    See also Working Paper (2012)

2016

16. Credit Frictions and Optimal Monetary Policy
    Journal of Monetary Economics, 2016, 84, (C), 30-65 View citations (92)
    See also Working Paper (2015)
17. Quantitative easing and financial stability
    Journal Economía Chilena (The Chilean Economy), 2016, 19, (2), 04-77 View citations (36)
    See also Chapter (2016)
    Working Paper (2016)

2015

18. Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
    American Economic Journal: Macroeconomics, 2015, 7, (1), 1-43 View citations (19)
    See also Chapter (2013)
    Working Paper (2014)
19. Editors' Introduction
    NBER Macroeconomics Annual, 2015, 29, (1), xiii - xx

2014

20. Editors' Introduction
    NBER Macroeconomics Annual, 2014, 28, (1), xi - xvii
21. Stochastic Choice: An Optimizing Neuroeconomic Model
    American Economic Review, 2014, 104, (5), 495-500 View citations (58)

2013

22. Editorial
    NBER Macroeconomics Annual, 2013, 27, (1), xiii - xx
23. Macroeconomic Analysis Without the Rational Expectations Hypothesis
    Annual Review of Economics, 2013, 5, (1), 303-346 View citations (145)
    See also Working Paper (2013)
24. Report: Ad Hoc Committee on Criterion for the John Bates Clark Medal
    American Economic Review, 2013, 103, (3), 772-73

2012

25. Editorial
    NBER Macroeconomics Annual, 2012, 26, (1), Xi - XVii
26. Linear-quadratic approximation of optimal policy problems
    Journal of Economic Theory, 2012, 147, (1), 1-42 View citations (116)
    See also Working Paper (2006)
27. Methods of policy accommodation at the interest-rate lower bound
    Proceedings - Economic Policy Symposium - Jackson Hole, 2012, 185-288 View citations (163)
28. Prospect Theory as Efficient Perceptual Distortion
    American Economic Review, 2012, 102, (3), 41-46 View citations (39)
29. Report of the Selection Committee for the American Economic Journal: Macroeconomics Editor
    American Economic Review, 2012, 102, (3), 716-716
30. Robustly optimal monetary policy in a microfounded New Keynesian model
    Journal of Monetary Economics, 2012, 59, (5), 468-487 View citations (45)
    See also Working Paper (2012)
31. ¿Qué pasa con los modelos económicos?
    Boletín, 2012, LVIII, (4), 267-273

2011

32. Pośrednictwo finansowe i analiza makroekonomiczna
    Gospodarka Narodowa. The Polish Journal of Economics, 2011, (11-12), 109-139
33. Simple Analytics of the Government Expenditure Multiplier
    American Economic Journal: Macroeconomics, 2011, 3, (1), 1-35 View citations (529)
    See also Working Paper (2010)
34. The central-bank balance sheet as an instrument of monetarypolicy
    Journal of Monetary Economics, 2011, 58, (1), 54-79 View citations (414)
    See also Working Paper (2010)

2010

35. Conventional and unconventional monetary policy
    Review, 2010, 92, (May), 229-264 View citations (29)
    See also Working Paper (2009)
36. Credit Spreads and Monetary Policy
    Journal of Money, Credit and Banking, 2010, 42, (s1), 3-35 View citations (428)
    Also in Journal of Money, Credit and Banking, 2010, 42, (s1), 3-35 (2010) View citations (84)
    See also Working Paper (2009)
37. Financial Intermediation and Macroeconomic Analysis
    Journal of Economic Perspectives, 2010, 24, (4), 21-44 View citations (132)
38. Robustly Optimal Monetary Policy with Near-Rational Expectations
    American Economic Review, 2010, 100, (1), 274-303 View citations (82)
    See also Working Paper (2005)

2009

39. Convergence in Macroeconomics: Elements of the New Synthesis
    American Economic Journal: Macroeconomics, 2009, 1, (1), 267-79 View citations (157)
40. Information-constrained state-dependent pricing
    Journal of Monetary Economics, 2009, 56, (S), S100-S124 View citations (191)
    See also Working Paper (2008)

2008

41. How Important Is Money in the Conduct of Monetary Policy?
    Journal of Money, Credit and Banking, 2008, 40, (8), 1561-1598 View citations (166)
    Also in Journal of Money, Credit and Banking, 2008, 40, (8), 1561-1598 (2008) View citations (23)
    See also Working Paper (2007)
42. The Fed's New Communication Strategy: Is It Stealth Inflation Targeting&quest
    Business Economics, 2008, 43, (3), 7-13

2007

43. Interest Rate Signals and Central Bank Transparency [with Comments]
    NBER International Seminar on Macroeconomics, 2007, 2007, (1), 9 - 62 View citations (2)
44. Interpreting Inflation Persistence: Comments on the Conference on "Quantitative Evidence on Price Determination"
    Journal of Money, Credit and Banking, 2007, 39, (s1), 203-210 View citations (38)
    Also in Journal of Money, Credit and Banking, 2007, 39, (s1), 203-210 (2007) View citations (2)
45. The Case for Forecast Targeting as a Monetary Policy Strategy
    Journal of Economic Perspectives, 2007, 21, (4), 3-24 View citations (74)
46. Transparency, Communication and Commitment
    International Journal of Central Banking, 2007, 3, (1)

2006

47. An Example of Robustly Optimal Monetary Policy with Near-Rational Expectations
    Journal of the European Economic Association, 2006, 4, (2-3), 386-395 View citations (6)
48. Comments on the Symposium on Interest and Prices
    Journal of the History of Economic Thought, 2006, 28, (2), 187-198 View citations (6)
49. Optimal taxation in an RBC model: A linear-quadratic approach
    Journal of Economic Dynamics and Control, 2006, 30, (9-10), 1445-1489 View citations (56)
    See also Working Paper (2005)
50. Staggered Pricing Models Face the Facts
    International Journal of Central Banking, 2006, 2, (3)

2005

51. Central bank communication and policy effectiveness
    Proceedings - Economic Policy Symposium - Jackson Hole, 2005, (Aug), 399-474 View citations (225)
    See also Working Paper (2005)
52. Comment on: "Using a long-term interest rate as the monetary policy instrument"
    Journal of Monetary Economics, 2005, 52, (5), 881-887 View citations (14)
53. Firm-Specific Capital and the New Keynesian Phillips Curve
    International Journal of Central Banking, 2005, 1, (2) View citations (111)
    See also Working Paper (2005)
54. Inflation Stabilization And Welfare: The Case Of A Distorted Steady State
    Journal of the European Economic Association, 2005, 3, (6), 1185-1236 View citations (317)
    See also Working Paper (2004)
55. Long-run risks and equity Returns
    Proceedings, 2005 View citations (1)
56. Optimal stabilization policy when wages and prices are sticky: the case of a distorted steady state
    Proceedings, 2005, 127-180 View citations (13)
    See also Working Paper (2004)
57. Panel discussion: understanding price determination: where are we now? where should we be going?
    Proceedings, 2005 View citations (23)

2004

58. Indicator variables for optimal policy under asymmetric information
    Journal of Economic Dynamics and Control, 2004, 28, (4), 661-690 View citations (115)
    See also Working Paper (2001)
59. Inflation targeting and optimal monetary policy
    Review, 2004, 86, (Jul), 15-42 View citations (47)
60. Optimal Monetary and Fiscal Policy in a Liquidity Trap [with Comments]
    NBER International Seminar on Macroeconomics, 2004, 2004, (1), 75 - 144 View citations (4)
61. Policy Options in a Liquidity Trap
    American Economic Review, 2004, 94, (2), 76-79 View citations (77)

2003

62. Comment on: Multiple-solution indeterminacies in monetary policy analysis
    Journal of Monetary Economics, 2003, 50, (5), 1177-1188 View citations (21)
63. Editorial Announcement
    Review of Economic Studies, 2003, 70, (4), 697-697
64. How forward-looking is optimal monetary policy?
    Proceedings, 2003, 1425-1483 View citations (79)
65. Indicator variables for optimal policy
    Journal of Monetary Economics, 2003, 50, (3), 691-720 View citations (212)
    Also in Proceedings, 2000 (2000) View citations (48)
    See also Working Paper (2000)
66. Optimal Interest-Rate Smoothing
    Review of Economic Studies, 2003, 70, (4), 861-886 View citations (275)
67. Optimal monetary and fiscal policy: a linear-quadratic approach
    Proceedings, 2003 View citations (81)
    See also Chapter (2004)
    Working Paper (2004)
68. The Zero Bound on Interest Rates and Optimal Monetary Policy
    Brookings Papers on Economic Activity, 2003, 34, (1), 139-235 View citations (1976)

2002

69. Financial market efficiency and the effectiveness of monetary policy
    Economic Policy Review, 2002, 8, (May), 85-94 View citations (23)
70. Inflation Stabilization and Welfare
    The B.E. Journal of Macroeconomics, 2002, 2, (1), 1-53 View citations (102)
    See also Working Paper (2001)

2001

71. Fiscal Requirements for Price Stability
    Journal of Money, Credit and Banking, 2001, 33, (3), 669-728 View citations (540)
    See also Working Paper (2001)
72. Monetary policy in the information economy
    Proceedings - Economic Policy Symposium - Jackson Hole, 2001, 297-370 View citations (72)
    See also Working Paper (2001)
73. The Taylor Rule and Optimal Monetary Policy
    American Economic Review, 2001, 91, (2), 232-237 View citations (512)

2000

74. AN INTERVIEW WITH WILLIAM A. BROCK
    Macroeconomic Dynamics, 2000, 4, (1), 108-138 View citations (5)
75. Monetary Policy in a World Without Money
    International Finance, 2000, 3, (2), 229-260 View citations (126)
    See also Working Paper (2000)
76. Pitfalls of Forward-Looking Monetary Policy
    American Economic Review, 2000, 90, (2), 100-104 View citations (97)
77. Symposium on Optimal Monetary Policy
    Review of Economic Studies, 2000, 67, (3), 581

1999

78. Commentary: how should monetary policy be conducted in an era of price stability?
    Proceedings - Economic Policy Symposium - Jackson Hole, 1999, 277-316 View citations (134)
79. Optimal Monetary Policy Inertia
    Manchester School, 1999, 67, (s1), 1-35 View citations (648)
    Also in Proceedings, 1999 (1999) View citations (621)
    See also Working Paper (2000)

1998

80. Doing Without Money: Controlling Inflation in a Post-Monetary World
    Review of Economic Dynamics, 1998, 1, (1), 173-219 View citations (165)
    See also Working Paper (1997)

1997

81. Inflation Forecasts and Monetary Policy
    Journal of Money, Credit and Banking, 1997, 29, (4), 653-84 View citations (432)
    Also in Proceedings, 1997, 653-686 (1997) View citations (408)
    See also Working Paper (1997)
82. Rational Asset Pricing Bubbles
    Econometrica, 1997, 65, (1), 19-58 View citations (347)
    See also Working Paper (1995)
83. SELF-FULFILLING PROPHECIES AND THE BUSINESS CYCLE
    Macroeconomic Dynamics, 1997, 1, (4), 740-769 View citations (65)

1996

84. Imperfect Competition and the Effects of Energy Price Increases on Economic Activity
    Journal of Money, Credit and Banking, 1996, 28, (4), 550-77 View citations (426)
    See also Working Paper (1996)
85. Loan commitments and optimal monetary policy
    Journal of Monetary Economics, 1996, 37, (3), 573-605 View citations (17)
    See also Working Paper (1996)
86. Real-Business-Cycle Models and the Forecastable Movements in Output, Hours, and Consumption
    American Economic Review, 1996, 86, (1), 71-89 View citations (202)

1995

87. Modèles d'équilibre général dynamiques en concurrence imparfaite
    Annals of Economics and Statistics, 1995, (37-38), 357-410 View citations (1)
88. Price-level determinacy without control of a monetary aggregate
    Carnegie-Rochester Conference Series on Public Policy, 1995, 43, (1), 1-46 View citations (510)
    See also Working Paper (1995)
89. The Quantitative Analytics of the Basic Neomonetarist Model: Comment
    Journal of Money, Credit and Banking, 1995, 27, (4), 1278-89 View citations (15)

1994

90. Monetary Policy and Price Level Determinacy in a Cash-in-Advance Economy
    Economic Theory, 1994, 4, (3), 345-80 View citations (484)
91. Self-Organized Criticality and Economic Fluctuations
    American Economic Review, 1994, 84, (2), 417-21 View citations (86)
92. Structural Slumps
    Journal of Economic Literature, 1994, 32, (4), 1784-1815 View citations (21)
93. Symposium: Bounded Rationality and Learning: Introduction
    Economic Theory, 1994, 4, (6), 811-20
94. The quantitative analysis of the basic neomonetarist model
    Proceedings, 1994, 1241-1289 View citations (17)

1993

95. Aggregate fluctuations from independent sectoral shocks: self-organized criticality in a model of production and inventory dynamics
    Ricerche Economiche, 1993, 47, (1), 3-30 View citations (161)
    See also Working Paper (1992)

1992

96. Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
    Journal of Political Economy, 1992, 100, (6), 1153-1207 View citations (498)
    See also Working Paper (1989)
97. Seven schools of macroeconomic thought by E.S. Phelps: A book review
    Journal of Economic Dynamics and Control, 1992, 16, (2), 391-398 View citations (2)

1991

98. Gross substitutability in large-square economies
    Journal of Economic Theory, 1991, 54, (1), 1-25 View citations (43)

1990

99. Equilibrium models displaying endogenous fluctuations and chaos: A survey
    Journal of Monetary Economics, 1990, 25, (2), 189-222 View citations (159)
    See also Working Paper (1988)
100. Indeterminacy of stationary equilibrium in stochastic overlapping generations models
     Journal of Economic Theory, 1990, 50, (2), 265-284 View citations (35)
101. Learning to Believe in Sunspots
     Econometrica, 1990, 58, (2), 277-307 View citations (195)
     See also Working Paper (1986)
102. Public Debt as Private Liquidity
     American Economic Review, 1990, 80, (2), 382-88 View citations (343)

1988

103. Determinacy of equilibrium in stationary economies with both finite and infinite lived consumers
     Journal of Economic Theory, 1988, 46, (2), 255-290 View citations (28)

1987

104. Three Questions about Sunspot Equilibria as an Explanation of Economic Fluctuations
     American Economic Review, 1987, 77, (2), 93-98 View citations (19)

1986

105. Stationary sunspot equilibria in a finance constrained economy
     Journal of Economic Theory, 1986, 40, (1), 128-137 View citations (193)

Books

2015

1. NBER Macroeconomics Annual 2014, Volume 29
   NBER Books, National Bureau of Economic Research, Inc View citations (8)

2014

2. NBER Macroeconomics Annual 2013, Volume 28
   NBER Books, National Bureau of Economic Research, Inc View citations (3)

2013

3. NBER Macroeconomics Annual 2012, Volume 27
   NBER Books, National Bureau of Economic Research, Inc View citations (3)

2012

4. NBER Macroeconomics Annual 2011, Volume 26
   NBER Books, National Bureau of Economic Research, Inc View citations (4)

2011

5. NBER Macroeconomics Annual 2010, volume 25
   NBER Books, National Bureau of Economic Research, Inc View citations (4)

2010

6. NBER Macroeconomics Annual 2009, Volume 24
   NBER Books, National Bureau of Economic Research, Inc View citations (15)

2009

7. NBER Macroeconomics Annual 2008, Volume 23
   NBER Books, National Bureau of Economic Research, Inc View citations (28)

2008

8. NBER Macroeconomics Annual 2007, Volume 22
   NBER Books, National Bureau of Economic Research, Inc View citations (14)

2007

9. NBER Macroeconomics Annual 2006, Volume 21
   NBER Books, National Bureau of Economic Research, Inc View citations (19)

2004

10. The Inflation-Targeting Debate
    NBER Books, National Bureau of Economic Research, Inc View citations (208)

Edited books

2010

1. Handbook of Monetary Economics, vol 3
   Handbook of Monetary Economics, Elsevier View citations (261)

2007

2. NBER Macroeconomics Annual 2006, vol 1
   MIT Press Books, The MIT Press View citations (14)

2006

3. The Inflation-Targeting Debate
   National Bureau of Economic Research Books, University of Chicago Press View citations (15)

1999

4. Handbook of Macroeconomics, vol 1
   Handbook of Macroeconomics, Elsevier View citations (1132)

Chapters

2018

1. Monetary Policy Analysis When Planning Horizons Are Finite
   A chapter in NBER Macroeconomics Annual 2018, volume 33, 2018, pp 1-50 View citations (40)
   See also Working Paper (2018)
   Journal Article in NBER Macroeconomics Annual (2019)

2016

2. Monetary Policy through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated World: An Overview
   Chapter 01 in Monetary Policy through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated World, 2016, vol. 24, pp 001-010
3. Quantitative Easing and Financial Stability
   Chapter 06 in Monetary Policy through Asset Markets: Lessons from Unconventional Measures and Implications for an Integrated World, 2016, vol. 24, pp 151-233 View citations (35)
   See also Working Paper (2016)
   Journal Article in Journal Economía Chilena (The Chilean Economy) (2016)

2014

4. Editorial in "NBER Macroeconomics Annual 2014, Volume 29"
   A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014 View citations (3)
5. Front matter to "NBER Macroeconomics Annual 2014, Volume 29"
   A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014
6. Monetary Policy Targets after the Crisis
   Chapter 4 in What Have We Learned? Macroeconomic Policy After the Crisis, 2014, vol. 1, pp 55-62 View citations (6)

2013

7. Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
   A chapter in Lessons from the Financial Crisis for Monetary Policy, 2013 View citations (6)
   See also Working Paper (2014)
   Journal Article in American Economic Journal: Macroeconomics (2015)
8. Introduction to "NBER Macroeconomics Annual 2013, Volume 28"
   A chapter in NBER Macroeconomics Annual 2013, Volume 28, 2013, pp -8--3

2012

9. Editorial and Abstracts for "NBER Macroeconomics Annual 2012, Volume 27"
   A chapter in NBER Macroeconomics Annual 2012, Volume 27, 2012
10. Forecast Targeting as a Monetary Policy Strategy - Policy Rules in Practice
    Chapter 9 in The Taylor Rule and the Transformation of Monetary Policy, 2012 View citations (13)
    See also Working Paper (2007)
11. Front matter to "NBER Macroeconomics Annual 2012, Volume 27"
    A chapter in NBER Macroeconomics Annual 2012, Volume 27, 2012 View citations (4)

2011

12. Comment on "Two Monetary Tools: Interest Rates and Haircuts"
    A chapter in NBER Macroeconomics Annual 2010, volume 25, 2011, pp 193-204
13. Editorial in "NBER Macroconomics Annual 2010, Volume 25"
    A chapter in NBER Macroeconomics Annual 2010, volume 25, 2011
14. Editorial in "NBER Macroeconomics Annual 2011, Volume 26"
    A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011 View citations (1)

2010

15. Editorial in "NBER Macroeconomics Annual 2009, Volume 24"
    A chapter in NBER Macroeconomics Annual 2009, Volume 24, 2010 View citations (2)
16. Front matter, NBER Macroeconomics Annual 2009, Volume 24
    A chapter in NBER Macroeconomics Annual 2009, Volume 24, 2010
17. Optimal Monetary Stabilization Policy
    Chapter 14 in Handbook of Monetary Economics, 2010, vol. 3, pp 723-828 View citations (79)
    See also Working Paper (2010)
18. Preface
    Chapter Preface in Handbook of Monetary Economics, 2010, vol. 3, pp xvii-xxii

2009

19. Comment on "Interest Rate Signals and Central Bank Transparency"
    A chapter in NBER International Seminar on Macroeconomics 2007, 2009, pp 55-62
20. Discussion of "Carry Trades and Currency Crashes"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 385-387
21. Discussion of "How Has the Euro Changed the Monetary Transmission Mechanism?"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 153-155 View citations (1)
22. Discussion of "Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 311-312 View citations (2)
23. Discussion of "On the Need for a New Approach to Analyzing Monetary Policy"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 459-462
24. Discussion of "The Timing of Labor Market Expansions: New Facts and a New Hypothesis"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 73-75
25. Discussion of "When Does Improving Health Raise GDP?"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 227-229

2008

26. Discussion of chapter 1
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 79-81 View citations (1)
27. Discussion of chapter 2
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 165-167 View citations (1)
28. Discussion of chapter 3
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 247-249 View citations (2)
29. Discussion of chapter 4
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 295-297 View citations (1)
30. Discussion of chapter 5
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 377-379 View citations (1)
31. Discussion of chapter 6
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 471-473 View citations (1)

2007

32. Globalization and Monetary Control
    A chapter in International Dimensions of Monetary Policy, 2007, pp 13-77 View citations (72)
    See also Working Paper (2007)
33. Optimal Inflation Targeting under Alternative Fiscal Regimes
    Chapter 3 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 037-075 View citations (10)
    See also Working Paper (2006)

2006

34. Optimal Monetary and Fiscal Policy in a Liquidity Trap
    A chapter in NBER International Seminar on Macroeconomics 2004, 2006, pp 75-144 View citations (34)
    See also Working Paper (2004)

2004

35. Implementing Optimal Policy through Inflation-Forecast Targeting
    A chapter in The Inflation-Targeting Debate, 2004 View citations (38)
    See also Working Paper (2004)
36. Introduction to "The Inflation-Targeting Debate"
    A chapter in The Inflation-Targeting Debate, 2004, pp 1-10 View citations (23)
37. Optimal Inflation-Targeting Rules
    A chapter in The Inflation-Targeting Debate, 2004 View citations (98)
    See also Working Paper (2003)
38. Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach
    A chapter in NBER Macroeconomics Annual 2003, Volume 18, 2004, pp 271-364 View citations (76)
    See also Journal Article in Proceedings (2003)
    Working Paper (2004)

1999

39. Interest Rate Rules in an Estimated Sticky Price Model
    A chapter in Monetary Policy Rules, 1999, pp 57-126 View citations (631)
    See also Working Paper (1998)
40. The cyclical behavior of prices and costs
    Chapter 16 in Handbook of Macroeconomics, 1999, vol. 1, Part B, pp 1051-1135 View citations (455)
    See also Working Paper (1999)

1998

41. Control of the Public Debt: A Requirement for Price Stability?
    Palgrave Macmillan View citations (46)
    See also Working Paper (1996)

1997

42. An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy
    A chapter in NBER Macroeconomics Annual 1997, Volume 12, 1997, pp 297-361 View citations (1469)

1994

43. Energy Taxes and Aggregate Economic Activity
    A chapter in Tax Policy and the Economy, Volume 8, 1994, pp 159-195 View citations (5)
    See also Working Paper (1993)
44. Nonstandard Indicators for Monetary Policy: Can Their Usefulness Be Judged from Forecasting Regressions?
    A chapter in Monetary Policy, 1994, pp 95-115 View citations (106)

1991

45. Markups and the Business Cycle
    A chapter in NBER Macroeconomics Annual 1991, Volume 6, 1991, pp 63-140 View citations (309)

1990

46. The optimum quantity of money
    Chapter 20 in Handbook of Monetary Economics, 1990, vol. 2, pp 1067-1152 View citations (113)

Editor

1. Handbook of Macroeconomics
   Elsevier
2. Handbook of Macroeconomics
   Elsevier