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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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Last updated 2018-09-09. Update your information in the RePEc Author Service.

Short-id: pwo3


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Working Papers

2019

  1. Noisy Memory and Over-Reaction to News
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2018

  1. Adjustment Dynamics During a Strategic Estimation Task
    2018 Meeting Papers, Society for Economic Dynamics Downloads
  2. Cognitive Imprecision and Small-Stakes Risk Aversion
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  3. Information Costs and Sequential Information Sampling
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  4. Leaning Against Housing Prices as Robustly Optimal Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (1)
    Also in CESifo Working Paper Series, CESifo Group Munich (2018) Downloads View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) Downloads View citations (1)
  5. Monetary Policy Analysis when Planning Horizons are Finite
    CESifo Working Paper Series, CESifo Group Munich Downloads View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) Downloads View citations (3)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) Downloads View citations (3)

    See also Chapter (2018)

2017

  1. Empirical Models of Inattentive Adjustment
    2017 Meeting Papers, Society for Economic Dynamics Downloads View citations (2)
  2. Rational Inattention and Sequential Information Sampling
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  3. Rational Inattention with Sequential Information Sampling
    Research Papers, Stanford University, Graduate School of Business Downloads View citations (2)
    Also in Research Papers, Stanford University, Graduate School of Business (2016) Downloads View citations (12)
  4. Risk Aversion as a Perceptual Bias
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) Downloads View citations (6)
    CESifo Working Paper Series, CESifo Group Munich (2017) Downloads View citations (6)

2016

  1. Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) Downloads View citations (41)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) Downloads View citations (41)
    Working Papers Series, Institute for New Economic Thinking Downloads
  2. Discrete Adjustment to a Changing Environment: Experimental Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2016) Downloads View citations (5)
    CESifo Working Paper Series, CESifo Group Munich (2016) Downloads View citations (9)

    See also Journal Article in Journal of Monetary Economics (2017)
  3. Optimal target criteria for stabilization policy
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (21)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (9)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) Downloads View citations (23)

    See also Journal Article in Journal of Economic Theory (2017)
  4. Quantitative Easing and Financial Stability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (12)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) Downloads View citations (12)

    See also Chapter (2016)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2016)

2015

  1. Credit Frictions and Optimal Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    Also in BIS Working Papers, Bank for International Settlements (2009) Downloads View citations (172)
    Working Paper Series, Federal Reserve Bank of San Francisco (2015) Downloads View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) Downloads View citations (5)
    Working Paper Research, National Bank of Belgium (2008) Downloads View citations (19)

    See also Journal Article in Journal of Monetary Economics (2016)

2014

  1. An Optimizing Neuroeconomic Model of Discrete Choice
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
  2. Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) Downloads View citations (4)

    See also Chapter (2013)
    Journal Article in American Economic Journal: Macroeconomics (2015)

2013

  1. Forward Guidance by Inflation-Targeting Central Banks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (18)
  2. Macroeconomic Analysis without the Rational Expectations Hypothesis
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (54)
    See also Journal Article in Annual Review of Economics (2013)

2012

  1. Inflation Targeting and Financial Stability
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (97)
  2. Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (19)
    Also in Working Papers, University of Mannheim, Department of Economics (2012) Downloads View citations (17)

    See also Journal Article in Journal of Monetary Economics (2012)

2010

  1. Optimal Monetary Stabilization Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (21)
    See also Chapter (2010)
  2. Simple Analytics of the Government Expenditure Multiplier
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (31)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (41)

    See also Journal Article in American Economic Journal: Macroeconomics (2011)
  3. The Central Bank's Balance Sheet as an Instrument of Monetary Policy
    2010 Meeting Papers, Society for Economic Dynamics Downloads View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (38)
    Staff Reports, Federal Reserve Bank of New York (2010) Downloads View citations (70)

    See also Journal Article in Journal of Monetary Economics (2011)

2009

  1. Conventional and Unconventional Monetary Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (68)
    Also in Staff Reports, Federal Reserve Bank of New York (2009) Downloads View citations (16)

    See also Journal Article in Review (2010)
  2. Credit Spreads and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (42)
    Also in Staff Reports, Federal Reserve Bank of New York (2009) Downloads View citations (123)

    See also Journal Article in Journal of Money, Credit and Banking (2010)

2008

  1. Information-Constrained State-Dependent Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
    See also Journal Article in Journal of Monetary Economics (2009)

2007

  1. Does a 'Two-Pillar Phillips Curve' Justify a Two-Pillar Monetary Policy Strategy?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (2)
  2. Forecast Targeting as a Monetary Policy Strategy: Policy Rules in Practice
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
    See also Chapter (2012)
  3. Globalization and Monetary Control
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (31)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) Downloads View citations (38)

    See also Chapter (2007)
  4. How Important is Money in the Conduct of Monetary Policy?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (35)
    Also in Working Papers, Queen's University, Department of Economics (2006) Downloads View citations (21)
    Levine's Working Paper Archive, David K. Levine (2007) Downloads View citations (31)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) Downloads View citations (29)

    See also Journal Article in Journal of Money, Credit and Banking (2008)

2006

  1. Linear-Quadratic Approximation of Optimal Policy Problems
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (75)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) Downloads View citations (41)

    See also Journal Article in Journal of Economic Theory (2012)
  2. Optimal Inflation Targeting Under Alternative Fiscal Regimes
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (10)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) Downloads View citations (19)

    See also Chapter (2007)

2005

  1. Central Bank Communication and Policy Effectiveness
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (132)
    See also Journal Article in Proceedings - Economic Policy Symposium - Jackson Hole (2005)
  2. Firm-Specific Capital and the New Keynesian Phillips Curve
    MPRA Paper, University Library of Munich, Germany Downloads View citations (76)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) Downloads View citations (81)

    See also Journal Article in International Journal of Central Banking (2005)
  3. Optimal Taxation in an RBC Model: A Linear-Quadratic Approach
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) Downloads View citations (5)

    See also Journal Article in Journal of Economic Dynamics and Control (2006)
  4. Robustly Optimal Monetary Policy with Near Rational Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (9)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2005) Downloads View citations (11)

    See also Journal Article in American Economic Review (2010)

2004

  1. Implementing Optimal Policy Through Inflation-Forecast Targeting
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (79)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) Downloads View citations (65)

    See also Chapter (2004)
  2. Inflation Stabilization and Welfare: The Case of a Distorted Steady State
    2004 Meeting Papers, Society for Economic Dynamics View citations (45)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) Downloads View citations (40)

    See also Journal Article in Journal of the European Economic Association (2005)
  3. Optimal Monetary and Fiscal Policy in a Liquidity Trap
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (56)
    See also Chapter (2006)
  4. 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 Downloads View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) Downloads View citations (22)

    See also Journal Article in Proceedings (2005)
  5. Optimal monetary and fiscal policy: a linear-quadratic approach
    Working Paper Series, European Central Bank Downloads View citations (89)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) Downloads View citations (54)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) Downloads View citations (110)

    See also Journal Article in Proceedings (2003)
    Chapter (2004)

2003

  1. Optimal Inflation Targeting Rules
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (104)
    See also Chapter (2004)
  2. Optimal Interest-Rate Rules: A General Approach
    Levine's Bibliography, UCLA Department of Economics Downloads View citations (19)
  3. Optimal Interest-Rate Rules: I. General Theory
    Levine's Bibliography, UCLA Department of Economics Downloads View citations (133)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) Downloads View citations (66)
  4. Optimal Interest-Rate Rules: II. Applications
    Levine's Bibliography, UCLA Department of Economics Downloads View citations (70)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) Downloads View citations (79)
  5. Optimal Monetary Policy in a Liquidity Trap
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (76)
  6. Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (16)

2001

  1. Fiscal Requirements for Price Stability
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (325)
    See also Journal Article in Journal of Money, Credit and Banking (2001)
  2. Imperfect Common Knowledge and the Effects of Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (92)
  3. Indicator Variables for Optimal Policy under Asymmetric Information
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (2001) Downloads View citations (10)

    See also Journal Article in Journal of Economic Dynamics and Control (2004)
  4. Inflation Stabilization and Welfare
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (122)
    See also Journal Article in The B.E. Journal of Macroeconomics (2002)
  5. Monetary Policy in the Information Economy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (56)
    See also Journal Article in Proceedings - Economic Policy Symposium - Jackson Hole (2001)

2000

  1. Indicator Variables for Optimal Policy
    Seminar Papers, Stockholm University, Institute for International Economic Studies Downloads View citations (47)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) Downloads View citations (61)

    See also Journal Article in Journal of Monetary Economics (2003)
  2. Monetary Policy in a World Without Money
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (82)
    See also Journal Article in International Finance (2000)
  3. Optimal Monetary Policy Inertia
    Seminar Papers, Stockholm University, Institute for International Economic Studies Downloads View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) Downloads View citations (582)
    CFS Working Paper Series, Center for Financial Studies (CFS) (1999) Downloads View citations (563)
    Working Papers, Stockholm - International Economic Studies (1999) View citations (544)

    See also Journal Article in Manchester School (1999)

1999

  1. The Cyclical Behavior of Prices and Costs
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (257)
    See also Chapter (1999)

1998

  1. An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy: Expanded Version
    NBER Technical Working Papers, National Bureau of Economic Research, Inc Downloads View citations (247)
  2. Interest-Rate Rules in an Estimated Sticky Price Model
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (151)
    See also Chapter (1999)

1997

  1. Doing Without Money: Controlling Inflation in a Post-Monetary World
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
    Also in Seminar Papers, Stockholm University, Institute for International Economic Studies (1997) Downloads View citations (10)
    Working Papers, Stockholm - International Economic Studies (1997) View citations (13)

    See also Journal Article in Review of Economic Dynamics (1998)
  2. Inflation Forecasts and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (328)
    See also Journal Article in Journal of Money, Credit and Banking (1997)

1996

  1. Control of the Public Debt: A Requirement for Price Stability?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (320)
  2. Imperfect Competition and the Effects of Energy Price Increases on Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (291)
    See also Journal Article in Journal of Money, Credit and Banking (1996)
  3. Loan Commitments and Optimal Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (11)
    See also Journal Article in Journal of Monetary Economics (1996)

1995

  1. Price Level Determinacy Without Control of a Monetary Aggregate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (128)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1995)
  2. Rational asset pricing bubbles
    UC3M Working papers. Economics, Universidad Carlos III de Madrid. Departamento de Economía Downloads
    Also in Working Papers, Centro de Investigacion Economica, ITAM (1993) View citations (5)

    See also Journal Article in Econometrica (1997)

1994

  1. Is the Business Cycles a Necessary Consequence of Stochastic Growth?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)

1993

  1. Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (103)
  2. Energy Taxes and Aggregate Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    See also Chapter (1994)
  3. Real Effects of Monetary Shocks in an Economy with Sequential Purchases
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (31)

1992

  1. 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 Downloads View citations (8)
    See also Journal Article in Ricerche Economiche (1993)
  2. The Optimum Quantity of Money Revisited
    Levine's Working Paper Archive, David K. Levine Downloads View citations (53)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (1990) Downloads View citations (39)

1991

  1. Endogenous Fluctuations
    DELTA Working Papers, DELTA (Ecole normale supérieure) View citations (5)
  2. Gross Substitutes in Large Square Economics
    Levine's Working Paper Archive, David K. Levine Downloads View citations (3)

1990

  1. Cyclical Markups: Theories and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
  2. Does Competition Between Currencies Lead to Price Level and Exchange Rate Stability?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
  3. Equilibrium Models of Endogenous Fluctuations: an Introduction
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
  4. Self-Fulfilling Expectations and Fluctuations in Aggregate Demand
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (13)
  5. Stability of Cycles with Adaptive Learning Rules
    DELTA Working Papers, DELTA (Ecole normale supérieure)

1989

  1. Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    See also Journal Article in Journal of Political Economy (1992)

1988

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

1986

  1. Expectations, Finance and Aggregate Instability
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (2)
  2. Learning to Believe in Sunspots
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (1)
    See also Journal Article in Econometrica (1990)

Journal Articles

2017

  1. Discrete adjustment to a changing environment: Experimental evidence
    Journal of Monetary Economics, 2017, 91, (C), 88-103 Downloads View citations (1)
    See also Working Paper (2016)
  2. Optimal target criteria for stabilization policy
    Journal of Economic Theory, 2017, 168, (C), 55-106 Downloads View citations (8)
    See also Working Paper (2016)

2016

  1. Credit Frictions and Optimal Monetary Policy
    Journal of Monetary Economics, 2016, 84, (C), 30-65 Downloads View citations (27)
    See also Working Paper (2015)
  2. Quantitative easing and financial stability
    Journal Economía Chilena (The Chilean Economy), 2016, 19, (2), 04-77 Downloads View citations (9)
    See also Chapter (2016)
    Working Paper (2016)

2015

  1. Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
    American Economic Journal: Macroeconomics, 2015, 7, (1), 1-43 Downloads View citations (13)
    See also Chapter (2013)
    Working Paper (2014)
  2. Editors' Introduction
    NBER Macroeconomics Annual, 2015, 29, (1), xiii - xx Downloads

2014

  1. Editors' Introduction
    NBER Macroeconomics Annual, 2014, 28, (1), xi - xvii Downloads
  2. Inflation Targeting: Fix It, Don’t Scrap It
    VOPROSY ECONOMIKI, 2014, 10
  3. Stochastic Choice: An Optimizing Neuroeconomic Model
    American Economic Review, 2014, 104, (5), 495-500 Downloads View citations (19)

2013

  1. Editorial
    NBER Macroeconomics Annual, 2013, 27, (1), xiii - xx Downloads
  2. Macroeconomic Analysis Without the Rational Expectations Hypothesis
    Annual Review of Economics, 2013, 5, (1), 303-346 Downloads View citations (54)
    See also Working Paper (2013)
  3. Report: Ad Hoc Committee on Criterion for the John Bates Clark Medal
    American Economic Review, 2013, 103, (3), 772-73 Downloads

2012

  1. Editorial
    NBER Macroeconomics Annual, 2012, 26, (1), Xi - XVii Downloads
  2. Linear-quadratic approximation of optimal policy problems
    Journal of Economic Theory, 2012, 147, (1), 1-42 Downloads View citations (61)
    See also Working Paper (2006)
  3. Methods of policy accommodation at the interest-rate lower bound
    Proceedings - Economic Policy Symposium - Jackson Hole, 2012, 185-288 Downloads View citations (97)
  4. Prospect Theory as Efficient Perceptual Distortion
    American Economic Review, 2012, 102, (3), 41-46 Downloads View citations (14)
  5. Report of the Selection Committee for the American Economic Journal: Macroeconomics Editor
    American Economic Review, 2012, 102, (3), 716-716 Downloads
  6. Robustly optimal monetary policy in a microfounded New Keynesian model
    Journal of Monetary Economics, 2012, 59, (5), 468-487 Downloads View citations (17)
    See also Working Paper (2012)
  7. What’s Wrong with Economic Models? A Response to John Kay
    VOPROSY ECONOMIKI, 2012, 5
  8. ¿Qué pasa con los modelos económicos?
    Boletín, 2012, LVIII, (4), 267-273 Downloads

2011

  1. Robustno optimalna monetarna politika sa skoro-racionalnim ocekivanjima
    Panoeconomicus, 2011, 58, (2), 157-193 Downloads
  2. Simple Analytics of the Government Expenditure Multiplier
    American Economic Journal: Macroeconomics, 2011, 3, (1), 1-35 Downloads View citations (290)
    See also Working Paper (2010)
  3. The central-bank balance sheet as an instrument of monetarypolicy
    Journal of Monetary Economics, 2011, 58, (1), 54-79 Downloads View citations (256)
    See also Working Paper (2010)

2010

  1. Conventional and unconventional monetary policy
    Review, 2010, (May), 229-264 Downloads View citations (24)
    See also Working Paper (2009)
  2. Convergence in Macroeconomics: Elements of the New Synthesis
    VOPROSY ECONOMIKI, 2010, 10 View citations (1)
    Also in American Economic Journal: Macroeconomics, 2009, 1, (1), 267-79 (2009) Downloads View citations (112)
  3. Credit Spreads and Monetary Policy
    Journal of Money, Credit and Banking, 2010, 42, (s1), 3-35 Downloads View citations (276)
    See also Working Paper (2009)
  4. Financial Intermediation and Macroeconomic Analysis
    Journal of Economic Perspectives, 2010, 24, (4), 21-44 Downloads View citations (79)
  5. Robustly Optimal Monetary Policy with Near-Rational Expectations
    American Economic Review, 2010, 100, (1), 274-303 Downloads View citations (46)
    See also Working Paper (2005)

2009

  1. Information-constrained state-dependent pricing
    Journal of Monetary Economics, 2009, 56, (S), S100-S124 Downloads View citations (92)
    See also Working Paper (2008)

2008

  1. How Important Is Money in the Conduct of Monetary Policy?
    Journal of Money, Credit and Banking, 2008, 40, (8), 1561-1598 Downloads View citations (107)
    See also Working Paper (2007)
  2. The Fed's New Communication Strategy: Is It Stealth Inflation Targeting&quest
    Business Economics, 2008, 43, (3), 7-13 Downloads

2007

  1. Interpreting Inflation Persistence: Comments on the Conference on "Quantitative Evidence on Price Determination"
    Journal of Money, Credit and Banking, 2007, 39, (s1), 203-210 Downloads View citations (21)
  2. The Case for Forecast Targeting as a Monetary Policy Strategy
    Journal of Economic Perspectives, 2007, 21, (4), 3-24 Downloads View citations (50)
  3. Transparency, Communication and Commitment
    International Journal of Central Banking, 2007, 3, (1) Downloads

2006

  1. An Example of Robustly Optimal Monetary Policy with Near-Rational Expectations
    Journal of the European Economic Association, 2006, 4, (2-3), 386-395 Downloads View citations (5)
  2. Comments on the Symposium on Interest and Prices
    Journal of the History of Economic Thought, 2006, 28, (02), 187-198 Downloads View citations (4)
  3. Optimal taxation in an RBC model: A linear-quadratic approach
    Journal of Economic Dynamics and Control, 2006, 30, (9-10), 1445-1489 Downloads View citations (48)
    See also Working Paper (2005)
  4. Staggered Pricing Models Face the Facts
    International Journal of Central Banking, 2006, 2, (3) Downloads

2005

  1. Central bank communication and policy effectiveness
    Proceedings - Economic Policy Symposium - Jackson Hole, 2005, (Aug), 399-474 Downloads View citations (149)
    See also Working Paper (2005)
  2. Comment on: "Using a long-term interest rate as the monetary policy instrument"
    Journal of Monetary Economics, 2005, 52, (5), 881-887 Downloads View citations (9)
  3. Firm-Specific Capital and the New Keynesian Phillips Curve
    International Journal of Central Banking, 2005, 1, (2) Downloads View citations (77)
    See also Working Paper (2005)
  4. Inflation Stabilization And Welfare: The Case Of A Distorted Steady State
    Journal of the European Economic Association, 2005, 3, (6), 1185-1236 Downloads View citations (194)
    See also Working Paper (2004)
  5. Long-run risks and equity Returns
    Proceedings, 2005 Downloads View citations (1)
  6. Optimal stabilization policy when wages and prices are sticky: the case of a distorted steady state
    Proceedings, 2005, 127-180 Downloads View citations (9)
    See also Working Paper (2004)
  7. Panel discussion: understanding price determination: where are we now? where should we be going?
    Proceedings, 2005 Downloads View citations (23)

2004

  1. Indicator variables for optimal policy under asymmetric information
    Journal of Economic Dynamics and Control, 2004, 28, (4), 661-690 Downloads View citations (77)
    See also Working Paper (2001)
  2. Inflation targeting and optimal monetary policy
    Review, 2004, (Jul), 15-42 Downloads View citations (34)
  3. Policy Options in a Liquidity Trap
    American Economic Review, 2004, 94, (2), 76-79 Downloads View citations (53)

2003

  1. Comment on: Multiple-solution indeterminacies in monetary policy analysis
    Journal of Monetary Economics, 2003, 50, (5), 1177-1188 Downloads View citations (18)
  2. Editorial Announcement
    Review of Economic Studies, 2003, 70, (4), 697-697 Downloads
  3. How forward-looking is optimal monetary policy?
    Proceedings, 2003, 1425-1483 View citations (58)
  4. Indicator variables for optimal policy
    Journal of Monetary Economics, 2003, 50, (3), 691-720 Downloads View citations (150)
    Also in Proceedings, 2000 (2000) Downloads View citations (47)

    See also Working Paper (2000)
  5. Optimal Interest-Rate Smoothing
    Review of Economic Studies, 2003, 70, (4), 861-886 Downloads View citations (156)
  6. Optimal monetary and fiscal policy: a linear-quadratic approach
    Proceedings, 2003 Downloads View citations (55)
    See also Working Paper (2004)
    Chapter (2004)
  7. The Zero Bound on Interest Rates and Optimal Monetary Policy
    Brookings Papers on Economic Activity, 2003, 34, (1), 139-235 Downloads View citations (602)

2002

  1. Financial market efficiency and the effectiveness of monetary policy
    Economic Policy Review, 2002, (May), 85-94 Downloads View citations (13)
  2. Inflation Stabilization and Welfare
    The B.E. Journal of Macroeconomics, 2002, 2, (1), 1-53 Downloads View citations (63)
    See also Working Paper (2001)

2001

  1. Fiscal Requirements for Price Stability
    Journal of Money, Credit and Banking, 2001, 33, (3), 669-728 View citations (323)
    See also Working Paper (2001)
  2. Monetary policy in the information economy
    Proceedings - Economic Policy Symposium - Jackson Hole, 2001, 297-370 Downloads View citations (53)
    See also Working Paper (2001)
  3. The Taylor Rule and Optimal Monetary Policy
    American Economic Review, 2001, 91, (2), 232-237 Downloads View citations (355)

2000

  1. AN INTERVIEW WITH WILLIAM A. BROCK
    Macroeconomic Dynamics, 2000, 4, (01), 108-138 Downloads View citations (2)
  2. Monetary Policy in a World without Money
    International Finance, 2000, 3, (2), 229-60 Downloads View citations (87)
    See also Working Paper (2000)
  3. Pitfalls of Forward-Looking Monetary Policy
    American Economic Review, 2000, 90, (2), 100-104 Downloads View citations (74)
  4. Symposium on Optimal Monetary Policy
    Review of Economic Studies, 2000, 67, (3), 581 Downloads

1999

  1. Commentary: how should monetary policy be conducted in an era of price stability?
    Proceedings - Economic Policy Symposium - Jackson Hole, 1999, 277-316 Downloads View citations (123)
  2. Optimal Monetary Policy Inertia
    Manchester School, 1999, 67, 1-35 Downloads View citations (544)
    Also in Proceedings, 1999 (1999) View citations (555)

    See also Working Paper (2000)

1998

  1. Doing Without Money: Controlling Inflation in a Post-Monetary World
    Review of Economic Dynamics, 1998, 1, (1), 173-219 Downloads View citations (96)
    See also Working Paper (1997)

1997

  1. Inflation Forecasts and Monetary Policy
    Journal of Money, Credit and Banking, 1997, 29, (4), 653-84 View citations (349)
    Also in Proceedings, 1997, 653-686 (1997) View citations (326)

    See also Working Paper (1997)
  2. Rational Asset Pricing Bubbles
    Econometrica, 1997, 65, (1), 19-58 View citations (281)
    See also Working Paper (1995)
  3. SELF-FULFILLING PROPHECIES AND THE BUSINESS CYCLE
    Macroeconomic Dynamics, 1997, 1, (04), 740-769 Downloads View citations (53)

1996

  1. 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 (299)
    See also Working Paper (1996)
  2. Loan commitments and optimal monetary policy
    Journal of Monetary Economics, 1996, 37, (3), 573-605 Downloads View citations (11)
    See also Working Paper (1996)
  3. Real-Business-Cycle Models and the Forecastable Movements in Output, Hours, and Consumption
    American Economic Review, 1996, 86, (1), 71-89 View citations (124)

1995

  1. Modèles d'équilibre général dynamiques en concurrence imparfaite
    Annals of Economics and Statistics, 1995, (37-38), 357-410 Downloads
  2. Price-level determinacy without control of a monetary aggregate
    Carnegie-Rochester Conference Series on Public Policy, 1995, 43, (1), 1-46 Downloads View citations (230)
    See also Working Paper (1995)
  3. The Quantitative Analytics of the Basic Neomonetarist Model: Comment
    Journal of Money, Credit and Banking, 1995, 27, (4), 1278-89 Downloads View citations (10)

1994

  1. Monetary Policy and Price Level Determinacy in a Cash-in-Advance Economy
    Economic Theory, 1994, 4, (3), 345-80 View citations (342)
  2. Self-Organized Criticality and Economic Fluctuations
    American Economic Review, 1994, 84, (2), 417-21 Downloads View citations (47)
  3. Structural Slumps
    Journal of Economic Literature, 1994, 32, (4), 1784-1815 Downloads View citations (19)
  4. Symposium: Bounded Rationality and Learning: Introduction
    Economic Theory, 1994, 4, (6), 811-20
  5. The quantitative analysis of the basic neomonetarist model
    Proceedings, 1994, 1241-1289 View citations (17)

1993

  1. Aggregate fluctuations from independent sectoral shocks: self-organized criticality in a model of production and inventory dynamics
    Ricerche Economiche, 1993, 47, (1), 3-30 Downloads View citations (101)
    See also Working Paper (1992)

1992

  1. Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
    Journal of Political Economy, 1992, 100, (6), 1153-1207 Downloads View citations (362)
    See also Working Paper (1989)
  2. Seven schools of macroeconomic thought by E.S. Phelps: A book review
    Journal of Economic Dynamics and Control, 1992, 16, (2), 391-398 Downloads View citations (1)

1991

  1. Gross substitutability in large-square economies
    Journal of Economic Theory, 1991, 54, (1), 1-25 Downloads View citations (42)

1990

  1. Equilibrium models displaying endogenous fluctuations and chaos: A survey
    Journal of Monetary Economics, 1990, 25, (2), 189-222 Downloads View citations (122)
    See also Working Paper (1988)
  2. Indeterminacy of stationary equilibrium in stochastic overlapping generations models
    Journal of Economic Theory, 1990, 50, (2), 265-284 Downloads View citations (34)
  3. Learning to Believe in Sunspots
    Econometrica, 1990, 58, (2), 277-307 Downloads View citations (148)
    See also Working Paper (1986)
  4. Public Debt as Private Liquidity
    American Economic Review, 1990, 80, (2), 382-88 Downloads View citations (178)

1988

  1. Determinacy of equilibrium in stationary economies with both finite and infinite lived consumers
    Journal of Economic Theory, 1988, 46, (2), 255-290 Downloads View citations (19)

1987

  1. Three Questions about Sunspot Equilibria as an Explanation of Economic Fluctuations
    American Economic Review, 1987, 77, (2), 93-98 View citations (16)

1986

  1. Stationary sunspot equilibria in a finance constrained economy
    Journal of Economic Theory, 1986, 40, (1), 128-137 Downloads View citations (142)

Books

2015

  1. NBER Macroeconomics Annual 2014, Volume 29
    NBER Books, National Bureau of Economic Research, Inc

2014

  1. NBER Macroeconomics Annual 2013, Volume 28
    NBER Books, National Bureau of Economic Research, Inc View citations (1)

2013

  1. NBER Macroeconomics Annual 2012, Volume 27
    NBER Books, National Bureau of Economic Research, Inc

2012

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

2011

  1. NBER Macroeconomics Annual 2010, Volume 25
    NBER Books, National Bureau of Economic Research, Inc View citations (1)

2010

  1. NBER Macroeconomics Annual 2009, Volume 24
    NBER Books, National Bureau of Economic Research, Inc View citations (1)

2009

  1. NBER Macroeconomics Annual 2008, Volume 23
    NBER Books, National Bureau of Economic Research, Inc View citations (25)

2008

  1. NBER Macroeconomics Annual 2007, Volume 22
    NBER Books, National Bureau of Economic Research, Inc View citations (3)

2007

  1. NBER Macroeconomics Annual 2006, Volume 21
    NBER Books, National Bureau of Economic Research, Inc View citations (11)

2004

  1. The Inflation-Targeting Debate
    NBER Books, National Bureau of Economic Research, Inc View citations (13)

Edited books

2015

  1. NBER Macroeconomics Annual 2014
    National Bureau of Economic Research Books, University of Chicago Press

2014

  1. NBER Macroeconomics Annual 2013
    National Bureau of Economic Research Books, University of Chicago Press View citations (1)

2013

  1. NBER Macroeconomics Annual 2012
    National Bureau of Economic Research Books, University of Chicago Press

2012

  1. NBER Macroeconomics Annual 2011
    National Bureau of Economic Research Books, University of Chicago Press View citations (4)

2011

  1. NBER Macroeconomics Annual 2010
    National Bureau of Economic Research Books, University of Chicago Press View citations (1)

2010

  1. Handbook of Monetary Economics, vol 3
    Handbook of Monetary Economics, Elsevier Downloads View citations (21)
  2. NBER Macroeconomics Annual 2009
    National Bureau of Economic Research Books, University of Chicago Press View citations (5)

2009

  1. NBER Macroeconomics Annual 2008
    National Bureau of Economic Research Books, University of Chicago Press

2008

  1. NBER Macroeconomics Annual 2007
    National Bureau of Economic Research Books, University of Chicago Press View citations (2)

2007

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

2006

  1. The Inflation-Targeting Debate
    National Bureau of Economic Research Books, University of Chicago Press View citations (1)

1999

  1. Handbook of Macroeconomics, vol 1
    Handbook of Macroeconomics, Elsevier Downloads View citations (74)

Chapters

2018

  1. Monetary Policy Analysis When Planning Horizons Are Finite
    A chapter in NBER Macroeconomics Annual 2018, volume 33, 2018 Downloads View citations (3)
    See also Working Paper (2018)

2016

  1. 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 Downloads
  2. 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 Downloads View citations (6)
    See also Working Paper (2016)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2016)

2014

  1. Editorial in "NBER Macroeconomics Annual 2014, Volume 29"
    A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014 Downloads View citations (1)
  2. Front matter to "NBER Macroeconomics Annual 2014, Volume 29"
    A chapter in NBER Macroeconomics Annual 2014, Volume 29, 2014 Downloads
  3. 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 (1)

2013

  1. Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
    A chapter in Lessons from the Financial Crisis for Monetary Policy, 2013 View citations (2)
    See also Journal Article in American Economic Journal: Macroeconomics (2015)
    Working Paper (2014)
  2. Introduction to "NBER Macroeconomics Annual 2013, Volume 28"
    A chapter in NBER Macroeconomics Annual 2013, Volume 28, 2013, pp -8--3 Downloads

2012

  1. Editorial and Abstracts for "NBER Macroeconomics Annual 2012, Volume 27"
    A chapter in NBER Macroeconomics Annual 2012, Volume 27, 2012 Downloads
  2. Forecast Targeting as a Monetary Policy Strategy - Policy Rules in Practice
    Chapter 9 in The Taylor Rule and the Transformation of Monetary Policy, 2012 Downloads View citations (3)
    See also Working Paper (2007)
  3. Front matter to "NBER Macroeconomics Annual 2012, Volume 27"
    A chapter in NBER Macroeconomics Annual 2012, Volume 27, 2012 Downloads View citations (4)

2011

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

2010

  1. Editorial in "NBER Macroeconomics Annual 2009, Volume 24"
    A chapter in NBER Macroeconomics Annual 2009, Volume 24, 2010 Downloads View citations (1)
  2. Front matter, table of contents
    A chapter in NBER Macroeconomics Annual 2009, Volume 24, 2010 Downloads
  3. Optimal Monetary Stabilization Policy
    Chapter 14 in Handbook of Monetary Economics, 2010, vol. 3, pp 723-828 Downloads View citations (20)
    See also Working Paper (2010)
  4. Preface
    Chapter Preface in Handbook of Monetary Economics, 2010, vol. 3, pp xvii-xxii Downloads

2009

  1. Comment on "Interest Rate Signals and Central Bank Transparency"
    A chapter in NBER International Seminar on Macroeconomics 2007, 2009, pp 55-62 Downloads
  2. Discussion of "Carry Trades and Currency Crashes"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 385-387 Downloads
  3. Discussion of "How Has the Euro Changed the Monetary Transmission Mechanism?"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 153-155 Downloads View citations (1)
  4. 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 Downloads View citations (2)
  5. 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 Downloads
  6. 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 Downloads
  7. Discussion of "When Does Improving Health Raise GDP?"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009, pp 227-229 Downloads
  8. Frontmatter, editorial and abstracts in "NBER Macroeconomics Annual 2008"
    A chapter in NBER Macroeconomics Annual 2008, Volume 23, 2009 Downloads

2008

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

2007

  1. Globalization and Monetary Control
    A chapter in International Dimensions of Monetary Policy, 2007, pp 13-77 Downloads View citations (29)
    See also Working Paper (2007)
  2. Optimal Inflation Targeting under Alternative Fiscal Regimes
    Chapter 3 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 037-075 Downloads View citations (4)
    See also Working Paper (2006)

2006

  1. Optimal Monetary and Fiscal Policy in a Liquidity Trap
    A chapter in NBER International Seminar on Macroeconomics 2004, 2006, pp 75-144 Downloads View citations (8)
    See also Working Paper (2004)

2004

  1. Implementing Optimal Policy through Inflation-Forecast Targeting
    A chapter in The Inflation-Targeting Debate, 2004, pp 19-92 Downloads View citations (14)
    See also Working Paper (2004)
  2. Introduction to "The Inflation-Targeting Debate"
    A chapter in The Inflation-Targeting Debate, 2004, pp 1-10 Downloads View citations (13)
  3. Optimal Inflation-Targeting Rules
    A chapter in The Inflation-Targeting Debate, 2004, pp 93-172 Downloads View citations (65)
    See also Working Paper (2003)
  4. Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach
    A chapter in NBER Macroeconomics Annual 2003, Volume 18, 2004, pp 271-364 Downloads View citations (40)
    See also Journal Article in Proceedings (2003)
    Working Paper (2004)

1999

  1. Interest Rate Rules in an Estimated Sticky Price Model
    A chapter in Monetary Policy Rules, 1999, pp 57-126 Downloads View citations (434)
    See also Working Paper (1998)
  2. The cyclical behavior of prices and costs
    Chapter 16 in Handbook of Macroeconomics, 1999, vol. 1, Part B, pp 1051-1135 Downloads View citations (253)
    See also Working Paper (1999)

1997

  1. An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy
    A chapter in NBER Macroeconomics Annual 1997, Volume 12, 1997, pp 297-361 Downloads View citations (1112)

1994

  1. Energy Taxes and Aggregate Economic Activity
    A chapter in Tax Policy and the Economy, Volume 8, 1994, pp 159-195 Downloads View citations (3)
    See also Working Paper (1993)
  2. Nonstandard Indicators for Monetary Policy: Can Their Usefulness Be Judged from Forecasting Regressions?
    A chapter in Monetary Policy, 1994, pp 95-115 Downloads View citations (71)

1991

  1. Markups and the Business Cycle
    A chapter in NBER Macroeconomics Annual 1991, Volume 6, 1991, pp 63-140 Downloads View citations (161)

1990

  1. The optimum quantity of money
    Chapter 20 in Handbook of Monetary Economics, 1990, vol. 2, pp 1067-1152 Downloads View citations (63)

Editor

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