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Michael Kumhof

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Personal Details

First Name: Michael
Middle Name:
Last Name: Kumhof
Suffix:

RePEc Short-ID: pku60

Email: [This author has chosen not to make the email address public]
Homepage: http://www.stanford.edu/~kumhof/
Postal Address:
Phone:

Affiliation

International Monetary Fund (IMF)
Location: Washington, District of Columbia (United States)
Homepage: http://www.imf.org/
Email:
Phone: (202) 623-7000
Fax: (202) 623-4661
Postal: 700 19th Street, N.W., Washington DC 20431
Handle: RePEc:edi:imfffus (more details at EDIRC)

Lists

This author is featured on the following reading lists, publication compilations or Wikipedia entries:
  1. Michael Kumhof in Wikipedia (English)

Works

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Working papers

  1. Jaromir Benes & Michael Kumhof & Douglas Laxton, 2014. "Financial Crises in DSGE Models: A Prototype Model," IMF Working Papers 14/57, International Monetary Fund.
  2. Jaromir Benes & Michael Kumhof & Douglas Laxton, 2014. "Financial Crises in DSGE Models: Selected Applications of MAPMOD," IMF Working Papers 14/56, International Monetary Fund.
  3. Jaromir Benes & Michael Kumhof & Douglas Laxton & Dirk Muir & Susanna Mursula, 2013. "The Benefits of International Policy Coordination Revisited," IMF Working Papers 13/262, International Monetary Fund.
  4. Michael Kumhof & Romain Ranciere & Pablo Winant, 2013. "Inequality, Leverage and Crises: The Case of Endogenous Default," IMF Working Papers 13/249, International Monetary Fund.
  5. Derek Anderson & Ben Hunt & Mika Kortelainen & Michael Kumhof & Douglas Laxton & Dirk Muir & Susanna Mursula & Stephen Snudden, 2013. "Getting to Know GIMF," IMF Working Papers 13/55, International Monetary Fund.
  6. Marcelle Chauvet & Jack G. Selody & Douglas Laxton & Michael Kumhof & Jaromir Benes & Ondra Kamenik & Susanna Mursula, 2012. "The Future of Oil," IMF Working Papers 12/109, International Monetary Fund.
  7. Michael Kumhof & Dirk Muir, 2012. "Oil and the World Economy," IMF Working Papers 12/256, International Monetary Fund.
  8. Michael Kumhof & Jaromir Benes, 2012. "The Chicago Plan Revisited," IMF Working Papers 12/202, International Monetary Fund.
  9. Romain Ranciere & Nathaniel A. Throckmorton & Michael Kumhof & Claire Lebarz & Alexander W. Richter, 2012. "Income Inequality and Current Account Imbalances," IMF Working Papers 12/8, International Monetary Fund.
  10. Yan, Isabel K. & Kumhof, Michael, 2011. "Too much of a good thing? on the effects of limiting foreign reserve accumulation," MPRA Paper 35231, University Library of Munich, Germany.
  11. Jaromir Benes & Michael Kumhof, 2011. "Risky Bank Lending and Optimal Capital Adequacy Regulation," IMF Working Papers 11/130, International Monetary Fund.
  12. Michael Kumhof; Douglas Laxton, 2010. "Chile’s Structural Fiscal Surplus Rule: a Model – Based Evaluation," Working Papers Central Bank of Chile 602, Central Bank of Chile.
  13. Douglas Laxton & Susanna Mursula & Kevin Clinton & Michael Kumhof, 2010. "Budget Consolidation," IMF Working Papers 10/163, International Monetary Fund.
  14. Romain Ranciere & Michael Kumhof, 2010. "Inequality, Leverage and Crises," IMF Working Papers 10/268, International Monetary Fund.
  15. Michael Kumhof, 2010. "International Currency Portfolios," 2010 Meeting Papers 84, Society for Economic Dynamics.
  16. Michael Kumhof & Dirk Muir & Carlos de Resende & Jan in ‘t Veld & René Lalonde & Davide Furceri & Annabelle Mourougane & John Roberts & Stephen Snudden & Mathias Trabandt & Günter Coenen &, 2010. "Effects of Fiscal Stimulus in Structural Models," IMF Working Papers 10/73, International Monetary Fund.
  17. Douglas Laxton & Susanna Mursula & Michael Kumhof & Dirk Muir, 2010. "The Global Integrated Monetary and Fiscal Model (GIMF)," IMF Working Papers 10/34, International Monetary Fund.
  18. Michael Kumhof & Daniel Leigh & Douglas Laxton, 2010. "To Starve or Not to Starve the Beast?," IMF Working Papers 10/199, International Monetary Fund.
  19. Michael Kumhof & Huixin Bi, 2009. "Jointly Optimal Monetary and Fiscal Policy Rules Under Borrowing Constraints," IMF Working Papers 09/286, International Monetary Fund.
  20. Michael Kumhof & Douglas Laxton, 2009. "Chile's Structural Fiscal Surplus Rule," IMF Working Papers 09/88, International Monetary Fund.
  21. Douglas Laxton & Dirk Muir & Michael Kumhof & Susanna Mursula & Charles Freedman, 2009. "Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits," IMF Working Papers 09/255, International Monetary Fund.
  22. Michael Kumhof & Douglas Laxton, 2009. "Simple, Implementable Fiscal Policy Rules," IMF Working Papers 09/76, International Monetary Fund.
  23. Michael Kumhof & Douglas Laxton, 2009. "Fiscal Deficits and Current Account Deficits," IMF Working Papers 09/237, International Monetary Fund.
  24. Isabel K. Yan & Michael Kumhof, 2009. "Balance of Payments Anti-Crises," IMF Working Papers 09/134, International Monetary Fund.
  25. Jaewoo Lee & Douglas Laxton & Michael Kumhof & Charles Freedman, 2009. "The Case for Global Fiscal Stimulus," IMF Staff Position Notes 2009/03, International Monetary Fund.
  26. Douglas Laxton & Michael Kumhof, 2007. "A Party without a Hangover?on the Effects of U.S. Government Deficits," IMF Working Papers 07/202, International Monetary Fund.
  27. Irina Yakadina & Michael Kumhof, 2007. "Politically Optimal Fiscal Policy," IMF Working Papers 07/68, International Monetary Fund.
  28. Michael, Kumhof & Ricardo, Nunes & Irina, Yakadina, 2007. "Simple Monetary Rules under Fiscal Dominance," MPRA Paper 4462, University Library of Munich, Germany.
  29. Alejandro Justiniano & Michael Kumhof & Federico Ravenna, 2006. "Multi-Sectoral Cascading and Price Dynamics - A Bayesian Econometric Evaluation," Computing in Economics and Finance 2006 422, Society for Computational Economics.
  30. Nicoletta Batini & Michael Kumhof & Douglas Laxton, 2006. "Inflation Targeting Versus Joining a Monetary Union: An Assessment of the Potential Benefits and Costs Using a DSGE Model," Computing in Economics and Finance 2006 221, Society for Computational Economics.
  31. Michel Juillard & Ondrej Kamenik & Michael Kumhof & Douglas Laxton, 2006. "Measures of Potential Output from an Estimated DSGE Model of the United States," Working Papers 2006/11, Czech National Bank, Research Department.
  32. Stijn van Nieuwerburgh & Michael Kumhof, 2005. "Monetary Policy in an Equilibrium Portfolio Balance Model," 2005 Meeting Papers 851, Society for Economic Dynamics.
  33. Jaromir Benes & Tibor Hledik & Michael Kumhof & David Vavra, 2005. "An Economy in Transition and DSGE: What the Czech National Bank’s New Projection Model Needs," Working Papers 2005/12, Czech National Bank, Research Department.
  34. Michael Kumhof & Douglas Laxton, 2005. "A Rational Expectations Model of Optimal Inflation Inertia," Computing in Economics and Finance 2005 429, Society for Computational Economics.
  35. Michael Kumhof & Evan Tanner, 2005. "Government Debt," IMF Working Papers 05/57, International Monetary Fund.
  36. Kanda Naknoi & Michael Kumhof & Douglas Laxton, 2005. "On the Benefits of Exchange Rate Flexibility under Endogenous Tradedness of Goods," Computing in Economics and Finance 2005 405, Society for Computational Economics.
  37. Michael Kumhof, 2004. "Inflation Inertia- THe Role of Multiple, Interacting Pricing Rigidities," Working Papers 182004, Hong Kong Institute for Monetary Research.
  38. Michael Kumhof, 2004. "Fiscal Crisis Resolution: Taxation Versus Inflation," 2004 Meeting Papers 874, Society for Economic Dynamics.
  39. Luis Felipe Céspedes & Michael Kumhof & Eric Parrado, 2003. "Pricing Policies and Inflation Inertia," Working Papers Central Bank of Chile 232, Central Bank of Chile.
  40. Guillermo Calvo & Oya Celasun & Michael Kumhof, 2003. "Inflation Inertia and Credible Disinflation - The Open Economy Case," NBER Working Papers 9557, National Bureau of Economic Research, Inc.
  41. Guillermo Calvo & Michael Kumhof & Oya Celasun, 2002. "Nominal Exchange Rate Anchoring Under Inflation Inertia," IMF Working Papers 02/30, International Monetary Fund.
  42. Michael Kumhof, 2001. "A Critical View of Inflation Targeting: Crises, Limited Sustainability, and Aggregate Shocks," Working Papers Central Bank of Chile 127, Central Bank of Chile.
  43. Michael Kumhof, 2000. "Inflation Targeting and Exchange Rate Flexibility," Working Papers 00023, Stanford University, Department of Economics.
  44. Michael Kumhof, 2000. "International Capital Mobility in Emerging Markets: New Evidence from Daily Data," Working Papers 00021, Stanford University, Department of Economics.
  45. Michael Kumhof, . "A Quantative Exploration of the Role of Short-Term Domestic Debit in Balance of Payments Crises," Working Papers 00017, Stanford University, Department of Economics.
  46. Michael Kumhof & Shujing Li & Isabel Yan, . "Balance of Payments Crises Under Inflation Targeting," Working Papers 00020, Stanford University, Department of Economics.
  47. Michael Kumhof, . "Sterilization of Short-Term Capital Inflows - Through Lower Interest Rates ?," Working Papers 00018, Stanford University, Department of Economics.
  48. Michael Kumhof, . "Balance of Payments Crisis: The Role of Short-Term Debt," Working Papers 00019, Stanford University, Department of Economics.

Articles

  1. Kumhof, Michael & Laxton, Douglas & Leigh, Daniel, 2014. "To starve or not to starve the beast?," Journal of Macroeconomics, Elsevier, vol. 39(PA), pages 1-23.
  2. Kumhof, Michael & Laxton, Douglas, 2013. "Fiscal deficits and current account deficits," Journal of Economic Dynamics and Control, Elsevier, vol. 37(10), pages 2062-2082.
  3. Cespedes, Luis Felipe & Kumhof, Michael & Parrado, Eric, 2012. "Pricing Policies And Inflation Dynamics," Macroeconomic Dynamics, Cambridge University Press, vol. 16(04), pages 576-604, September.
  4. G�nter Coenen & Christopher J. Erceg & Charles Freedman & Davide Furceri & Michael Kumhof & Ren� Lalonde & Douglas Laxton & Jesper Lind� & Annabelle Mourougane & Dirk Muir & Susanna Mursula & Ca, 2012. "Effects of Fiscal Stimulus in Structural Models," American Economic Journal: Macroeconomics, American Economic Association, vol. 4(1), pages 22-68, January.
  5. Bi, Huixin & Kumhof, Michael, 2011. "Jointly optimal monetary and fiscal policy rules under liquidity constraints," Journal of Macroeconomics, Elsevier, vol. 33(3), pages 373-389, September.
  6. Clinton, Kevin & Kumhof, Michael & Laxton, Douglas & Mursula, Susanna, 2011. "Deficit reduction: Short-term pain for long-term gain," European Economic Review, Elsevier, vol. 55(1), pages 118-139, January.
  7. Freedman, Charles & Kumhof, Michael & Laxton, Douglas & Muir, Dirk & Mursula, Susanna, 2010. "Global effects of fiscal stimulus during the crisis," Journal of Monetary Economics, Elsevier, vol. 57(5), pages 506-526, July.
  8. Michael Kumhof & Douglas Laxton, 2010. "Chile’s Structural Fiscal Surplus Rule: a Model-Based Evaluation," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 13(3), pages 5-32, December.
  9. Michael Kumhof & Ricardo Nunes & Irina Yakadina, 2010. "Simple Monetary Rules under Fiscal Dominance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(1), pages 63-92, 02.
  10. Charles Freedman & Michael Kumhof & Douglas Laxton & Dirk Muir, 2010. "Policies to Rebalance the Global Economy After the Financial Crisis," International Journal of Central Banking, International Journal of Central Banking, vol. 6(1), pages 215-252, March.
  11. Kumhof, Michael, 2010. "On the theory of sterilized foreign exchange intervention," Journal of Economic Dynamics and Control, Elsevier, vol. 34(8), pages 1403-1420, August.
  12. Juillard, Michael & Kamenik, Ondra & Kumhof, Michael & Laxton, Douglas, 2008. "Optimal price setting and inflation inertia in a rational expectations model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2584-2621, August.
  13. Calvo, Guillermo & Celasun, Oya & Kumhof, Michael, 2007. "Inflation inertia and credible disinflation," Journal of International Economics, Elsevier, vol. 73(1), pages 48-68, September.
  14. Kumhof, Michael & Li, Shujing & Yan, Isabel, 2007. "Balance of payments crises under inflation targeting," Journal of International Economics, Elsevier, vol. 72(1), pages 242-264, May.
  15. Kumhof, Michael, 2004. "Sterilization of short-term capital inflows--through lower interest rates?," Journal of International Money and Finance, Elsevier, vol. 23(7-8), pages 1209-1221.
  16. Kumhof, Michael, 2001. "International Capital Mobility in Emerging Markets: New Evidence from Daily Data," Review of International Economics, Wiley Blackwell, vol. 9(4), pages 626-40, November.
  17. Kumhof, Michael, 2000. "A quantitative exploration of the role of short-term domestic debt in balance of payments crises," Journal of International Economics, Elsevier, vol. 51(1), pages 195-215, June.

Chapters

  1. Michael Kumhof, 2002. "A Critical View of Inflation Targeting: Crises, Limited Sustaintability, and Aggregate Shocks," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.), Inflation Targeting: Desing, Performance, Challenges, edition 1, volume 5, chapter 8, pages 349-394 Central Bank of Chile.

NEP Fields

43 papers by this author were announced in NEP, and specifically in the following field reports (number of papers):
  1. NEP-BAN: Banking (2) 2011-07-02 2014-01-17
  2. NEP-CBA: Central Banking (22) 2002-02-15 2005-11-19 2006-06-10 2006-07-15 2007-05-04 2007-05-04 2007-05-04 2007-08-18 2008-01-05 2008-01-05 2008-09-05 2009-05-23 2009-05-23 2009-10-10 2009-11-27 2010-01-30 2010-03-28 2010-05-02 2010-07-31 2010-10-16 2011-07-02 2014-01-17. Author is listed
  3. NEP-CMP: Computational Economics (1) 2013-09-24
  4. NEP-CTA: Contract Theory & Applications (1) 2011-07-02
  5. NEP-CWA: Central & Western Asia (1) 2012-05-15
  6. NEP-DGE: Dynamic General Equilibrium (8) 2005-11-19 2006-06-10 2007-05-04 2010-03-28 2010-07-31 2012-03-08 2013-09-24 2014-01-17. Author is listed
  7. NEP-ENE: Energy Economics (1) 2012-05-15
  8. NEP-FMK: Financial Markets (2) 2001-02-14 2005-10-22
  9. NEP-FOR: Forecasting (2) 2006-06-10 2012-05-15
  10. NEP-HPE: History & Philosophy of Economics (1) 2013-02-16
  11. NEP-IFN: International Finance (10) 2001-02-14 2001-02-14 2001-02-14 2001-02-14 2001-02-14 2002-02-15 2005-12-01 2007-05-04 2007-05-04 2009-10-10. Author is listed
  12. NEP-INT: International Trade (1) 2005-11-19
  13. NEP-LAM: Central & South America (1) 2004-07-18
  14. NEP-MAC: Macroeconomics (27) 2004-08-02 2005-10-22 2005-11-19 2005-11-19 2005-12-01 2006-06-10 2006-07-15 2007-05-04 2007-05-04 2007-05-04 2007-08-18 2008-01-05 2008-01-05 2008-09-05 2009-05-23 2009-05-23 2009-10-10 2009-11-27 2009-11-27 2010-01-30 2010-03-28 2010-05-02 2010-10-16 2011-04-23 2011-12-13 2013-09-24 2014-01-17. Author is listed
  15. NEP-MFD: Microfinance (1) 2003-11-03
  16. NEP-MON: Monetary Economics (17) 2001-02-14 2002-02-15 2003-11-03 2004-07-18 2005-11-19 2005-12-01 2007-05-04 2007-05-04 2007-08-18 2008-01-05 2008-09-05 2009-10-10 2010-01-30 2010-03-28 2011-12-13 2013-09-24 2014-01-17. Author is listed
  17. NEP-OPM: Open Economy Macroeconomics (4) 2009-10-10 2009-11-27 2012-03-08 2014-01-17
  18. NEP-PBE: Public Economics (3) 2005-10-22 2007-05-04 2010-10-16
  19. NEP-PKE: Post Keynesian Economics (1) 2002-02-15
  20. NEP-POL: Positive Political Economics (1) 2007-05-04
  21. NEP-PUB: Public Finance (1) 2010-05-02
  22. NEP-REG: Regulation (1) 2011-07-02
  23. NEP-TRA: Transition Economics (1) 2006-06-10
  24. NEP-UPT: Utility Models & Prospect Theory (1) 2014-01-17

Statistics

This author is among the top 5% authors according to these criteria:
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