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David Andolfatto

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Andolfatto, David & Williamson, Stephen, 2015. "Scarcity of safe assets, inflation, and the policy trap," Journal of Monetary Economics, Elsevier, vol. 73(C), pages 70-92.

    Mentioned in:

    1. The End of Central Banking
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2016-02-14 22:52:00
    2. Attitude Adjustment
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2016-06-22 03:42:00
    3. Low Real Interest Rates and Monetary Policy
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2017-03-30 02:41:00
  2. Andolfatto, David, 2003. "Monetary Implications of the Hayashi-Prescott Hypothesis for Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 21(4), pages 1-20, December.

    Mentioned in:

    1. Interest rates and slumps: competing views
      by David Andolfatto in MacroMania on 2011-09-22 23:34:00
    2. The ridiculous Paul Krugman
      by David Andolfatto in MacroMania on 2012-09-14 21:40:00
  3. Fernando Martin & David Andolfatto, 2009. "Money and Capital as Competing Media of Exchange in a News Economy," Discussion Papers dp09-02, Department of Economics, Simon Fraser University.

    Mentioned in:

    1. Money and Capital as Competing Media of Exchange in a News Economy
      by Christian Zimmermann in NEP-DGE blog on 2010-06-28 16:10:13
  4. Andolfatto, David, 1996. "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, vol. 86(1), pages 112-132, March.

    Mentioned in:

    1. Peter A. Diamond, Dale T. Mortensen, Christopher A. Pissarides
      by jccavalcanti in JCC.com on 2010-11-03 21:45:18
    2. Involuntary Unemployment and the Business Cycle
      by Christian Zimmermann in NEP-DGE blog on 2010-05-17 04:30:32
  5. David Andolfatto, 2005. "On the Coexistence of Money and Bonds," 2005 Meeting Papers 9, Society for Economic Dynamics.

    Mentioned in:

    1. Deep money, the coexistence puzzle, and the legal restrictions hypothesis
      by JP Koning in Moneyness on 2014-05-24 08:31:00

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Andolfatto, David, 1996. "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, vol. 86(1), pages 112-132, March.

    Mentioned in:

    1. > Macroeconomics > Economic Fluctuations > Real Business Cycle Theory

Working papers

  1. David Andolfatto & Fernando M. Martin, 2025. "Monetary Policy and the COVID-19 Inflation Shock," Working Papers 2025-004, Federal Reserve Bank of St. Louis, revised 23 May 2026.

    Cited by:

    1. Andolfatto, David, 2025. "Whither U.S. inflation and interest rates?," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 6(4).

  2. David Andolfatto & Ed Nosal, 2020. "Shadow Bank Runs," FRB Atlanta Working Paper 2020-14, Federal Reserve Bank of Atlanta.

    Cited by:

    1. Diemo Dietrich & Uwe Vollmer, 2024. "Investment externalities, bank liquidity creation, and bank failures," Journal of Economics, Springer, vol. 141(2), pages 137-162, March.

  3. David Andolfatto, 2020. "Hot Money for a Cold Economy," Working Papers 2020-019, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Francesca Carapella & Jin-Wook Chang & Sebastian Infante & Melissa Leistra & Arazi Lubis & Alexandros Vardoulakis, 2024. "Financial Stability Implications of CBDC," Finance and Economics Discussion Series 2024-021, Board of Governors of the Federal Reserve System (U.S.).
    2. Agostino Capponi & Jin-Wook Chang, 2025. "Settlement Speed and Financial Stability," Finance and Economics Discussion Series 2025-101r1, Board of Governors of the Federal Reserve System (U.S.), revised 05 Jun 2026.

  4. David Andolfatto, 2020. "Maturity Structure and Liquidity Risk," Working Papers 2020-008, Federal Reserve Bank of St. Louis.

    Cited by:

    1. David Andolfatto & Fernando M. Martin, 2023. "Welfare-enhancing inflation and liquidity premia," Working Papers 2023-001, Federal Reserve Bank of St. Louis, revised Sep 2023.

  5. David Andolfatto & Andrew Spewak, 2018. "Understanding Lowflation," Working Papers 2018-24, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Oleksiy Kryvtsov & James MacGee, 2020. "Has the Inflation Process Changed? Selective Review of Recent Research on Inflation Dynamics," Discussion Papers 2020-11, Bank of Canada.

  6. David Andolfatto, 2018. "Assessing the Impact of Central Bank Digital Currency on Private Banks," Working Papers 2018-026, Federal Reserve Bank of St. Louis, revised 22 Apr 2020.

    Cited by:

    1. Luu, Hiep Ngoc & Nguyen, Canh Phuc & Nasir, Muhammad Ali, 2023. "Implications of central bank digital currency for financial stability: Evidence from the global banking sector," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    2. Dong, Mei & Xiao, Sylvia Xiaolin, 2024. "Idle liquidity, CBDC and banking," European Economic Review, Elsevier, vol. 164(C).
    3. Ozili, Peterson K, 2023. "Central bank digital currency and bank earnings management using loan loss provisions," MPRA Paper 116412, University Library of Munich, Germany.
    4. Ren, Yi-Shuai & Ma, Chaoqun & Wang, Yiran, 2024. "A new financial regulatory framework for digital finance: Inspired by CBDC," Global Finance Journal, Elsevier, vol. 62(C).
    5. Sarah Allen & Srđjan Čapkun & Ittay Eyal & Giulia Fanti & Bryan A. Ford & James Grimmelmann & Ari Juels & Kari Kostiainen & Sarah Meiklejohn & Andrew Miller & Eswar Prasad & Karl Wüst & Fan Zhang, 2020. "Design Choices for Central Bank Digital Currency: Policy and Technical Considerations," NBER Working Papers 27634, National Bureau of Economic Research, Inc.
    6. Dirk Niepelt, 2025. "Central Bank Digital Currency and Monetary Architecture," Diskussionsschriften dp2509, Universitaet Bern, Departement Volkswirtschaft.
    7. Raphael Auer & Cyril Monnet & Hyun Song Shin, 2021. "Distributed ledgers and the governance of money," BIS Working Papers 924, Bank for International Settlements.
    8. Zijian Wang, 2023. "Money Laundering and the Privacy Design of Central Bank Digital Currency," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 604-632, December.
    9. Jonathan Chiu & Mohammad Davoodalhosseini & Janet Hua Jiang & Yu Zhu, 2019. "Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment," Staff Working Papers 19-20, Bank of Canada.
    10. Todd Keister & Cyril Monnet, 2022. "Central Bank Digital Currency: Stability and Information," Working Papers 22-04, Office of Financial Research, US Department of the Treasury.
    11. Huseyin Oguz Genc & Soichiro Takagi, 2024. "A literature review on the design and implementation of central bank digital currencies," International Journal of Economic Policy Studies, Springer, vol. 18(1), pages 197-225, February.
    12. Bird, Daniel & Weiss, David, 2026. "Central bank digital currency: When price and bank stability (Don’t) collide," Journal of Economic Dynamics and Control, Elsevier, vol. 184(C).
    13. Geoffrey Goodell & Hazem Danny Al-Nakib & Paolo Tasca, 2020. "Digital Currency and Economic Crises: Helping States Respond," Papers 2006.03023, arXiv.org, revised Aug 2020.
    14. Bouzas, Tulio & Uras, Burak, 2026. "The Price of Traceability: E-Payments, Tax Compliance, and Policy," Other publications TiSEM b35a98be-6600-4dcd-8010-b, Tilburg University, School of Economics and Management.
    15. Pablo D. Azar & Garth Baughman & Francesca Carapella & Jacob Gerszten & Arazi Lubis & JP Perez-Sangimino & David E. Rappoport & Chiara Scotti & Nathan Swem & Alexandros Vardoulakis & Aurite Werman, 2024. "The Financial Stability Implications of Digital Assets," Economic Policy Review, Federal Reserve Bank of New York, vol. 30(2), pages 1-48, November.
    16. Emilio Barucci & Andrea Gurgone & Giulia Iori & Michele Azzone, 2026. "Central Bank Digital Currency, Flight-to-Quality, and Bank-Runs in an Agent-Based Model," Working Papers 2026: 01, Department of Economics, University of Venice "Ca' Foscari".
    17. Grodecka-Messi, Anna & Zhang, Xin, 2023. "Private Bank Money vs Central Bank Money: A Historical Lesson for CBDC Introduction," Working Paper Series 424, Sveriges Riksbank (Central Bank of Sweden), revised 01 Jul 2023.
    18. Larisa V. Sannikova, 2023. "Legal Framework for Central Bank Digital Currencies and the Digital Ruble," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 27-44, October.
    19. Ricardo Lagos & Shengxing Zhang, 2021. "The Limits of onetary Economics: On Money as a Latent Medium of Exchange," Discussion Papers 2104, Centre for Macroeconomics (CFM).
    20. Yujie Yang & Chenxing Zhang & Wenwen Hou, 2024. "CBDC, cash, and financial intermediary in HANK," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 23(3), pages 383-420, September.
    21. Ozili, Peterson K, 2025. "100 Quotes about central bank digital currencies," MPRA Paper 124263, University Library of Munich, Germany.
    22. Williamson, Stephen D., 2022. "Central bank digital currency and flight to safety," Journal of Economic Dynamics and Control, Elsevier, vol. 142(C).
    23. Xuesong Huang & Todd Keister, 2026. "Stablecoins vs. Tokenized Deposits: The Narrow Banking Debate Revisited," Staff Reports 1179, Federal Reserve Bank of New York.
    24. Ozili, Peterson K, 2023. "Impact of central bank digital currency (CBDC) activity on bank loan loss provisions," MPRA Paper 118797, University Library of Munich, Germany.
    25. Hanfeng Chen & Maria Elena Filippin, 2025. "Central Bank Digital Currency: Demand Shocks and Optimal Monetary Policy," Papers 2507.15048, arXiv.org, revised Feb 2026.
    26. Frost, Jon & Rochet, Jean-Charles & Shin, Huyn Song & Verdier, Marianne, 2025. "Competing digital monies," TSE Working Papers 25-1644, Toulouse School of Economics (TSE), revised Jul 2025.
    27. Bertsch, Christoph, 2023. "Stablecoins: Adoption and Fragility," Working Paper Series 423, Sveriges Riksbank (Central Bank of Sweden), revised 01 Dec 2025.
    28. Luis Araujo & Leo Ferraris & Marco Mantovani & Daniela Puzzello, 2025. "Experimenting with Digital Currency," Working Papers 557, University of Milano-Bicocca, Department of Economics.
    29. Charles M. Kahn & Maarten R.C. van Oordt, 2022. "The Demand for Programmable Payments," Tinbergen Institute Discussion Papers 22-076/IV, Tinbergen Institute.
    30. David Andolfatto, 2020. "Maturity Structure and Liquidity Risk," Working Papers 2020-008, Federal Reserve Bank of St. Louis.
    31. Dionysopoulos, Lambis & Marra, Miriam & Urquhart, Andrew, 2024. "Central bank digital currencies: A critical review," International Review of Financial Analysis, Elsevier, vol. 91(C).
    32. Segun Kamoru FAKUNMOJU, 2023. "Naira Digitalization and Financial Stability of Selected Deposit Money Bank in Nigeria: Are Nigeria Bank Ready?," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 83-89.
    33. He, Liang & Jiang, Ruiqi & Wang, Chao & Yao, Yue, 2026. "Antecedents of the continuance intention to use CBDCs: Evidence from the e-CNY," International Review of Economics & Finance, Elsevier, vol. 105(C).
    34. Xiang, Lijin & Feng, Chao & Xiao, Zumian & Liu, Jianjian, 2024. "The impact of central bank digital currency on macroeconomic dynamics: A DSGE analysis," Economic Modelling, Elsevier, vol. 141(C).
    35. Agur, Itai & Ari, Anil & Dell’Ariccia, Giovanni, 2022. "Designing central bank digital currencies," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 62-79.
    36. Georgarakos, Dimitris & Kenny, Geoff & Laeven, Luc & Meyer, Justus, 2025. "The digital euro: awareness, adoption and household portfolios," Research Bulletin, European Central Bank, vol. 138.
    37. Ozili, Peterson K, 2022. "Can central bank digital currency increase financial inclusion? Arguments for and against," MPRA Paper 110786, University Library of Munich, Germany.
    38. Constanza Martínez-Ventura & Julián A. Parra-Polanía & Tatiana Mora-Arbeláez & Angélica Lizarazo-Cuéllar, 2023. "Expected Macroeconomic Effects of Issuing a Retail Central Bank Digital Currency (CBDC)," Coyuntura Económica, Fedesarrollo, vol. 53, pages 151-177.
    39. Kwami Ahiabenu, 2022. "A Comparative Study of the Design Frameworks of the Ghanaian and Nigerian Central Banks’ Digital Currencies (CBDC)," FinTech, MDPI, vol. 1(3), pages 1-15, August.
    40. Le, Anh H., 2025. "Central bank digital currency and cryptocurrency in emerging markets," International Economics, Elsevier, vol. 181(C).
    41. Dirk Niepelt, 2024. "Money and Banking with Reserves and CBDC," Journal of Finance, American Finance Association, vol. 79(4), pages 2505-2552, August.
    42. Xiao, Zumian & Niu, Yiran & Xiang, Lijin & Cui, Yingshuo, 2024. "Central bank digital currency and corporate debt financing costs: Empirical evidence from China," Finance Research Letters, Elsevier, vol. 69(PB).
    43. Castrén, Olli & Kavonius, Ilja Kristian & Rancan, Michela, 2022. "Digital currencies in financial networks," Journal of Financial Stability, Elsevier, vol. 60(C).
    44. Svetlana Abramova & Rainer Böhme & Helmut Elsinger & Helmut Stix & Martin Summer, 2022. "What can CBDC designers learn from asking potential users? Results from a survey of Austrian residents (Svetlana Abramova, Rainer Böhme, Helmut Elsinger, Helmut Stix, Martin Summer)," Working Papers 241, Oesterreichische Nationalbank (Austrian Central Bank).
    45. Amendola, Nicola & Araujo, Luis & Ferraris, Leo, 0. "Physical vs digital currency: a difference that makes a difference," Theoretical Economics, Econometric Society.
    46. Janet Hua & Yu Zhu, 2021. "Monetary Policy Pass-Through with Central Bank Digital Currency," Staff Working Papers 21-10, Bank of Canada.
    47. Bernd Hayo & Matthias Neuenkirch & Manuel Walz, 2026. "Estimating the Demand for a Digital Euro: A Survey Approach for France, Germany and Italy," Research Papers in Economics 2026-06, University of Trier, Department of Economics.
    48. Tobias Berg & Jan Keil & Felix Martini & Manju Puri, 2024. "CBDCs, Payment Firms, and Geopolitics," NBER Working Papers 32857, National Bureau of Economic Research, Inc.
    49. Ahnert, Toni & Hoffmann, Peter & Leonello, Agnese & Porcellacchia, Davide, 2023. "Central Bank Digital Currency and financial stability," Working Paper Series 2783, European Central Bank.
    50. Azzone, Michele & Barucci, Emilio, 2023. "Evaluation of sight deposits and central bank digital currency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
    51. Nyffenegger, Remo, 2024. "Central bank digital currency and bank intermediation: Medium of Exchange vs. Savings vehicle," European Economic Review, Elsevier, vol. 170(C).
    52. Rehman, Mubeen Abdur & Irfan, Muhammad & Naeem, Muhammad Abubakr & Lucey, Brian M. & Karim, Sitara, 2023. "Macro-financial implications of central bank digital currencies," Research in International Business and Finance, Elsevier, vol. 64(C).
    53. Verdier, Marianne, 2024. "Digital payments and bank competition," Journal of Financial Stability, Elsevier, vol. 73(C).
    54. Shalva Mkhatrishvili & Wim Boonstra, 2022. "What we know on Central Bank Digital Currencies (so far)," NBG Working Papers 01/2022, National Bank of Georgia.
    55. Lim, King Yoong & Liu, Chunping & Zhang, Shuonan, 2024. "Optimal central banking policies: Envisioning the post-digital yuan economy with loan prime rate-setting," Emerging Markets Review, Elsevier, vol. 59(C).
    56. James A. Clouse, 2024. "A Field Guide to Monetary Policy Implementation Issues in a New World with CBDC, Stablecoin, and Narrow Banks," Finance and Economics Discussion Series 2024-001, Board of Governors of the Federal Reserve System (U.S.).
    57. Katrin Assenmacher & Massimo Ferrari Minesso & Arnaud Mehl & Maria Sole Pagliari, 2024. "Managing the transition to central bank digital currency," Working Papers 803, DNB.
    58. Eun Young Oh & Shuonan Zhang, 2022. "Informal economy and central bank digital currency," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1520-1539, October.
    59. Muñoz, Manuel A. & Soons, Oscar, 2023. "Public money as a store of value, heterogeneous beliefs, and banks: implications of CBDC," Working Paper Series 2801, European Central Bank.
    60. Jonathan Chiu & Cyril Monnet, 2025. "On the Programmability and Uniformity of Digital Currencies," Staff Working Papers 25-18, Bank of Canada.
    61. Le, Anh H. & Copestake, Alexander & Tan, Brandon & Papageorgiou, Evan & Peiris, S. Jay & Rawat, Umang, 2025. "Macro-financial impacts of foreign digital money," Economics Letters, Elsevier, vol. 255(C).
    62. Todd Keister & Daniel R. Sanches, 2021. "Should Central Banks Issue Digital Currency?," Working Papers 21-37, Federal Reserve Bank of Philadelphia.
    63. Hoang, Yen Hai & Ngo, Vu Minh & Bich Vu, Ngoc, 2023. "Central bank digital currency: A systematic literature review using text mining approach," Research in International Business and Finance, Elsevier, vol. 64(C).
    64. Sofia Priazhkina & Samuel Palmer & Pablo Martín-Ramiro & Román Orús & Samuel Mugel & Vladimir Skavysh, 2024. "Digital Payments in Firm Networks: Theory of Adoption and Quantum Algorithm," Staff Working Papers 24-17, Bank of Canada.
    65. Ricardo Lagos & Shengxing Zhang, 2022. "The Limits of ONETARY ECONOMICS: On Money as a Constraint on Market Power," Econometrica, Econometric Society, vol. 90(3), pages 1177-1204, May.
    66. Son, Jaemin & Ryu, Doojin & Webb, Robert I., 2023. "Central bank digital currency: Payment choices and commercial bank profitability," International Review of Financial Analysis, Elsevier, vol. 90(C).
    67. Rhys Bidder & Timothy Jackson & Matthias Rottner, 2024. "CBDC and Banks: Disintermediating Fast and Slow," Working Papers 202407, University of Liverpool, Department of Economics.
    68. Jonathan Chiu & Janet Hua Jiang & Seyed Mohammadreza Davoodalhosseini & Yu Zhu, 2019. "Central Bank Digital Currency and Banking," 2019 Meeting Papers 862, Society for Economic Dynamics.
    69. Le, Anh H., 2022. "Central bank digital currency and cryptocurrency in emerging markets," MPRA Paper 114734, University Library of Munich, Germany.
    70. Hanfeng Chen & Maria Elena Filippin, 2023. "Central Bank Digital Currency with Collateral-constrained Banks," Papers 2308.10359, arXiv.org, revised Jun 2025.
    71. John E. Marthinsen & Steven R. Gordon, 2024. "Synthetic Central Bank Digital Currencies and Systemic Liquidity Risks," IJFS, MDPI, vol. 12(1), pages 1-17, February.
    72. Perazzi, Elena & Bacchetta, Philippe, 2022. "CBDC as imperfect substitute to bank deposits: a macroeconomic perspective," MPRA Paper 115574, University Library of Munich, Germany.
    73. Huosong Xia & Yangmei Gao & Justin Zuopeng Zhang, 2023. "Understanding the adoption context of China’s digital currency electronic payment," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-27, December.
    74. Antonio Diez de los Rios & Yu Zhu, 2020. "CBDC and Monetary Sovereignty," Staff Analytical Notes 2020-5, Bank of Canada.
    75. Beckmann, Lars & Debener, Jörn & Hark, Paul F. & Pfingsten, Andreas, 2024. "CBDC and the shadow of bank disintermediation: US stock market insights on threats and remedies," Finance Research Letters, Elsevier, vol. 67(PB).
    76. Carli, Francesco & Uras, Burak R., 2024. "E-money, risk-sharing, and welfare," European Economic Review, Elsevier, vol. 169(C).
    77. Ayşegül Bilgiç Ulun, 2025. "Bibliometric and Content Analysis on Central Bank Digital Currencies for the Period 2018–2025 and a Policy Model Proposal for Türkiye," Economies, MDPI, vol. 13(10), pages 1-34, October.
    78. Catalin Dumitrescu, 2025. "CBDC Stress Test in a Dual-Currency Setting," Papers 2511.13384, arXiv.org, revised Dec 2025.
    79. Nicola Amendola & Luis Araujo & Leo Ferraris, 2024. "Physical vs Digital Currency: What's the Difference, Why it Matters," Working Papers 537, University of Milano-Bicocca, Department of Economics.
    80. Max Fuchs, 2022. "CBDC as Competitor for Bank Deposits and Cryptocurrencies," MAGKS Papers on Economics 202210, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    81. Jorge Abad & Galo Nuño & Carlos Thomas, 2024. "CBDC and the Operational Framework of Monetary Policy," CESifo Working Paper Series 10896, CESifo.
    82. Chen Hanfeng & Hänsel Matthias & Nguyen Hiep, 2025. "Monetary Policy Transmission, Central Bank Digital Currency, and Bank Market Power," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 245(4-5), pages 527-576.
    83. Pascal Paul & Mauricio Ulate & Jing Cynthia Wu, 2025. "A Macroeconomic Model of Central Bank Digital Currency," Working Paper Series 2024-11, Federal Reserve Bank of San Francisco.
    84. Arto Kovanen, 2022. "Second Thoughts About Central Bank Digital Currencies," Applied Economics and Finance, Redfame publishing, vol. 9(1), pages 1-18, December.
    85. Jonathan Chiu & Mohammad Davoodalhosseini & Janet Hua Jiang & Yu Zhu, 2020. "Safe Payments," Staff Working Papers 20-53, Bank of Canada.
    86. Lea Bitter, 2023. "Banking Crises under a Central Bank Digital Currency (CBDC)," Rationality and Competition Discussion Paper Series 426, CRC TRR 190 Rationality and Competition.
    87. Rodney J Garratt & Jiaheng Yu & Haoxiang Zhu, 2022. "The Case for Convenience: How CBDC Design Choices Impact Monetary Policy Pass-Through," BIS Working Papers 1046, Bank for International Settlements.
    88. Grodecka-Messi, Anna & Zhang, Xin, 2025. "Central Bank Liquidity Support, Bank Lending, and the End of Currency Competition," Working Paper Series 454, Sveriges Riksbank (Central Bank of Sweden).
    89. Hernando Vargas, 2022. "Some thoughts about the issuance of a retail CBDC in Colombia," BIS Papers chapters, in: Bank for International Settlements (ed.), CBDCs in emerging market economies, volume 123, pages 49-64, Bank for International Settlements.
    90. Hoque, Mohammad Enamul & Billah, Mabruk & Alam, Md Rafayet & Lucey, Brian, 2024. "Does news related to digital economy and central bank digital currency affect digital economy ETFs? Evidence from TVP-VAR connectedness and wavelet local multiple correlation analyses," Global Finance Journal, Elsevier, vol. 61(C).
    91. Simarjeet Singh & Sanjay Gupta & Sandeepa Kaur & Sakshi Sapra & Vishal Kumar & Manika Sharma, 2023. "The quest for CBDC: indentifying and prioritising the motivations for launching central bank digital currencies in emerging countries," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(5), pages 4493-4508, October.
    92. Gastón Giordana, 2025. "Assessing consumer CBDC adoption in Luxembourg: A micro-simulation approach," BCL working papers 193, Central Bank of Luxembourg.
    93. Assenmacher, Katrin & Bitter, Lea & Ristiniemi, Annukka, 2023. "CBDC and business cycle dynamics in a New Monetarist New Keynesian model," Working Paper Series 2811, European Central Bank.
    94. Saroj Bhattarai & Mohammad Davoodalhosseini & Zhenning Zhao, 2024. "Central Bank Digital Currency and Transmission of Monetary Policy," Staff Working Papers 24-27, Bank of Canada.
    95. Vollmar, Steffen & Wening, Fabian, 2024. "The impact of CBDC on a deposit-dependent banking system," Journal of Financial Stability, Elsevier, vol. 73(C).
    96. Zefeng Chen & Zhengyang Jiang, 2025. "The Liquidity Premium of Digital Payment Vehicle," Management Science, INFORMS, vol. 71(7), pages 5605-5624, July.
    97. León Carlos & Moreno Jose F. & Soramäki Kimmo, 2025. "Simulating the Adoption of a Retail CBDC," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 245(4-5), pages 401-433.
    98. Bitter Lea, 2025. "Banking Crises Under a Central Bank Digital Currency (CBDC)," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 245(4-5), pages 479-526.
    99. Cotugno, Matteo & Manta, Francesco & Perdichizzi, Salvatore & Stefanelli, Valeria, 2024. "Ready for a digital Euro? Insights from a research agenda," Research in International Business and Finance, Elsevier, vol. 67(PA).
    100. Charles M. Kahn & Maarten van Oordt & Yu Zhu, 2021. "Best Before? Expiring Central Bank Digital Currency and Loss Recovery," Staff Working Papers 21-67, Bank of Canada.
    101. Katrin Tinn, 2026. "A Theory Model of Digital Currency with Asymmetric Privacy," Management Science, INFORMS, vol. 72(5), pages 3699-3719, May.
    102. Wu, Jiaqi & Liu, Xin & Zhang, Chenghu, 2024. "Unveiling the influencing mechanism underlying users’ adoption and recommend intentions of central bank digital currency: A behavioral reasoning theory perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 81(C).
    103. Altermatt, Lukas & Wang, Zijian, 2024. "Oligopoly banking, risky investment, and monetary policy," European Economic Review, Elsevier, vol. 164(C).
    104. Jacopo Temperini & Marcella Corsi, 2023. "Democratizing money? The role of cryptocurrencies," PSL Quarterly Review, Economia civile, vol. 76(304), pages 51-66.
    105. Bai, HaiChen & Cong, Lin William & Luo, Mei & Xie, Ping, 2025. "Adoption of central bank digital currencies: Initial evidence from China," Journal of Corporate Finance, Elsevier, vol. 91(C).
    106. Ferrari Minesso, Massimo & Mehl, Arnaud & Stracca, Livio, 2022. "Central bank digital currency in an open economy," Journal of Monetary Economics, Elsevier, vol. 127(C), pages 54-68.
    107. Nicholas Glenn & Robert Reed, 2024. "Cryptocurrency, Security, and Financial Intermediation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 185-223, February.
    108. Georgarakos, Dimitris & Kenny, Geoff & Laeven, Luc & Meyer, Justus, 2025. "Consumer attitudes towards a central bank digital currency," Working Paper Series 3035, European Central Bank.
    109. Osakwe, Christian Nedu & Ogunmokun, Oluwatobi A. & Elgammal, Islam & Kwarteng, Michael Adu, 2025. "Individuals' attitudes and their adoption intentions of central bank digital currency: Combining theories and analytics for deeper insights," Technological Forecasting and Social Change, Elsevier, vol. 210(C).
    110. Tu DQ Le & Son H Tran & Dat T Nguyen & Thanh Ngo, 2023. "The degrees of central bank digital currency adoption across countries: a preliminary analysis," Economics and Business Letters, Oviedo University Press, vol. 12(2), pages 97-104.
    111. Volker Brühl, 2025. "How will the digital euro work? A preliminary analysis of design, structures, and challenges," Electronic Markets, Springer;IIM University of St. Gallen, vol. 35(1), pages 1-12, December.
    112. Xin, Baogui & Jiang, Kai & Santibanez Gonzalez, Ernesto D.R., 2024. "The coevolution effect of central bank digital currency and green bonds on the net-zero economy," Energy Economics, Elsevier, vol. 134(C).
    113. Thierry U. Kame Babilla, 2024. "Bank‐lending channel of monetary policy transmission in WAEMU: An estimated DSGE model approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 1277-1300, April.
    114. Cong, Lin William & Mayer, Simon, "undated". "The Coming Battle of Digital Currencies," Applied Economics and Policy Working Paper Series 320020, Cornell University, Department of Applied Economics and Management.
    115. Hua, Qiuling & Qiu, Zepeng & Jiang, Tingfeng & Tang, Ke, 2025. "Macroeconomic effects of CBDC negative interest policy in an open economy: A comparison of quantity and price rules," International Review of Economics & Finance, Elsevier, vol. 100(C).
    116. Tatiana Grishina & Alexey Ponomarenko, 2023. "Banks’ interest rate setting and transitions between liquidity surplus and deficit," SN Business & Economics, Springer, vol. 3(12), pages 1-18, December.
    117. Firman Hidayat & Raditya Sukmana & Masrizal Masrizal & Rahmat Heru Setianto, 2026. "The Impact of Central Bank Digital Currencies News on Bank Stability: Evidence from ASEAN-5 Countries," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 29(1), pages 21-52, February.
    118. Sebastian Infante & Kyungmin Kim & Anna Orlik & André F. Silva & Robert J. Tetlow, 2023. "Retail Central Bank Digital Currencies: Implications for Banking and Financial Stability," Finance and Economics Discussion Series 2023-072, Board of Governors of the Federal Reserve System (U.S.).
    119. Hossein Nabilou, 2020. "Testing the waters of the Rubicon: the European Central Bank and central bank digital currencies," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(4), pages 299-314, December.
    120. Lorenzo Burlon & Manuel A. Muñoz & Frank Smets, 2024. "The Optimal Quantity of CBDC in a Bank-Based Economy," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(4), pages 172-217, October.
    121. Ozili, Peterson K, 2022. "Central bank digital currency research around the World: a review of literature," MPRA Paper 111389, University Library of Munich, Germany.
    122. Dunbar, Kwamie & Treku, Daniel N., 2024. "Examining the impact of a central bank digital currency on the access to banking," International Review of Financial Analysis, Elsevier, vol. 93(C).
    123. Romain Baeriswyl & Samuel Reynard & Alexandre Swoboda, 2024. "Retail CBDC purposes and risk transfers to the central bank," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 160(1), pages 1-15, December.
    124. Young Sik Kim & Ohik Kwon, 2023. "Central Bank Digital Currency, Credit Supply, and Financial Stability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(1), pages 297-321, February.
    125. Jiaqi Li & Andrew Usher & Yu Zhu, 2024. "Central Bank Digital Currency and Banking Choices," Staff Working Papers 24-4, Bank of Canada.
    126. M'bakob, Gilles Brice & Tchounga, Anatole, 2024. "CBDC and banking stability: Modeling cascading effects on reserves, lending, and liquidity," Research in Economics, Elsevier, vol. 78(4).
    127. Simone Auer & Nicola Branzoli & Giuseppe Ferrero & Antonio Ilari & Francesco Palazzo & Edoardo Rainone, 2024. "CBDC and the banking system," Questioni di Economia e Finanza (Occasional Papers) 829, Bank of Italy, Economic Research and International Relations Area.
    128. Marc Sanchez-Roger & Esther Puyol-Antón, 2021. "Digital Bank Runs: A Deep Neural Network Approach," Sustainability, MDPI, vol. 13(3), pages 1-18, February.
    129. Nurudeen Olalekan Bello, 2024. "Monetary Policy Transmission Mechanisms in the Digital Economy: Federal Reserve Effectiveness in the Cryptocurrency Era," International Journal of Scientific Research and Modern Technology, Prasu Publications, vol. 3(7), pages 11-29.
    130. Claudiu Ioan Negrea & Elena Madalina Scarlat, 2022. "The Digital Leu Challenges and Possible Areas of Implementation," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 377-385, September.
    131. Wang, Yi-Ran & Ma, Chao-Qun & Ren, Yi-Shuai, 2022. "A model for CBDC audits based on blockchain technology: Learning from the DCEP," Research in International Business and Finance, Elsevier, vol. 63(C).
    132. Raphael Auer & Jon Frost & Leonardo Gambacorta & Cyril Monnet & Tara Rice & Hyun Song Shin, 2021. "Central bank digital currencies: motives, economic implications and the research frontier," BIS Working Papers 976, Bank for International Settlements.
    133. Mishra, Bineet & Prasad, Eswar, 2024. "A simple model of a central bank digital currency," Journal of Financial Stability, Elsevier, vol. 73(C).
    134. Bouzas, Tulio & Uras, Burak, 2026. "The Price of Traceability: E-Payments, Tax Compliance, and Policy," Discussion Paper 2026-006, Tilburg University, Center for Economic Research.
    135. Jia, Pengfei, 2020. "Negative Interest Rates on Central Bank Digital Currency," MPRA Paper 103828, University Library of Munich, Germany.
    136. Karau, Sören, 2023. "Central bank digital currency competition and the impossible trinity," Finance Research Letters, Elsevier, vol. 54(C).
    137. Nocciola, Luca & Zamora-Pérez, Alejandro, 2024. "Transactional demand for central bank digital currency," Working Paper Series 2926, European Central Bank.
    138. Jonathan Chiu & Mohammad Davoodalhosseini, 2021. "Central Bank Digital Currency and Banking: Macroeconomic Benefits of a Cash-Like Design," Staff Working Papers 21-63, Bank of Canada.
    139. Jaemin Son & Mehmet Huseyin Bilgin & Doojin Ryu, 2022. "Consumer choices under new payment methods," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-22, December.
    140. Tercero-Lucas, David, 2023. "Central bank digital currencies and financial stability in a modern monetary system," Journal of Financial Stability, Elsevier, vol. 69(C).
    141. Marcelo A. T. Aragão, 2021. "A Few Things You Wanted to Know about the Economics of CBDCs, but were Afraid to Model: a survey of what we can learn from who has done," Working Papers Series 554, Central Bank of Brazil, Research Department.
    142. Bindseil, Ulrich & Senner, Richard, 2024. "Macroeconomic modelling of CBDC: a critical review," Working Paper Series 2978, European Central Bank.
    143. Jesus Fernandez-Villaverde & Daniel Sanches & Linda Schilling & Harald Uhlig, 2021. "Central Bank Digital Currency: Central Banking For All?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 225-242, July.
    144. Ferrari Minesso, Massimo & Siena, Daniele, 2026. "Private money and public debt. U.S. Stablecoins and the global safe asset channel," Working Paper Series 3174, European Central Bank.
    145. Silvia Bartolucci & Andrei Kirilenko, 2019. "A Model of the Optimal Selection of Crypto Assets," Papers 1906.09632, arXiv.org.
    146. Boris Hofmann & Xiaorui Tang & Feng Zhu, 2025. "Central bank and media sentiment on central bank digital currency: an international perspective," BIS Working Papers 1279, Bank for International Settlements.
    147. Fan, Rong & Walker, Todd B. & Wright, Allan, 2025. "Central bank digital currency in small open economies," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 6(2).
    148. Ozili, Peterson K, 2021. "Central bank digital currency in Nigeria: opportunities and risks," MPRA Paper 110152, University Library of Munich, Germany.
    149. Jitender Kumar & Manju Rani, 2025. "Past, present and future of central bank digital currency: a systematic literature review and relevant issues," Journal of Banking Regulation, Palgrave Macmillan, vol. 26(4), pages 701-720, December.
    150. Jooyong Jun & Eunjung Yeo, 2021. "Central bank digital currency, loan supply, and bank failure risk: a microeconomic approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-22, December.
    151. Remo Nyffenegger, 2022. "Central bank digital currency and bank intermediation: medium of exchange vs. savings vehicle," ECON - Working Papers 409, Department of Economics - University of Zurich, revised Aug 2023.
    152. Adib Rahman & Liang Wang, 2025. "Central Bank Digital Currency, Tax Evasion, and Monetary Policy with Heterogeneous Agents," Working Papers 202505, University of Hawaii at Manoa, Department of Economics.
    153. Ahnert, Toni & Hoffmann, Peter & Monnet, Cyril, 2025. "Payments and privacy in the digital economy," Journal of Financial Economics, Elsevier, vol. 169(C).
    154. Solikin M. Juhro & Denny Lie & Atet Rizki Wijoseno & Mohammad Aly Fikry, 2022. "Fiscal Policy Stance, Central Bank Digital Currency, And The Optimal Monetary-Macroprudential Policy Mix," Working Papers WP/01/2022, Bank Indonesia.
    155. Ozili, Peterson K, 2021. "Central bank digital currency can lead to the collapse of cryptocurrency," MPRA Paper 111218, University Library of Munich, Germany.
    156. Helmi, Mohamad Husam & Çatık, Abdurrahman Nazif & Akdeniz, Coşkun, 2023. "The impact of central bank digital currency news on the stock and cryptocurrency markets: Evidence from the TVP-VAR model," Research in International Business and Finance, Elsevier, vol. 65(C).
    157. Dirk Niepelt, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," CESifo Working Paper Series 8712, CESifo.
    158. Toni Ahner & Katrin Assenmacher & Peter Hoffmann & Agnese Leonello & Cyril Monnet & Davide Porcellacchia, 2024. "The Economics of Central Bank Digital Currency," International Journal of Central Banking, International Journal of Central Banking, vol. 20(4), pages 221-274, October.
    159. Christoph Wronka, 2023. "Central bank digital currencies (CBDCs) and their potential impact on traditional banking and monetary policy: an initial analysis," Digital Finance, Springer, vol. 5(3), pages 613-641, December.
    160. Ahnert, Toni & Assenmacher, Katrin & Hoffmann, Peter & Leonello, Agnese & Monnet, Cyril & Porcellacchia, Davide, 2022. "Cold hard (digital) cash: the economics of central bank digital currency," Research Bulletin, European Central Bank, vol. 100.
    161. Parantap Basu, 2025. "Bitcoins and Central Bank Digital Currency in a Simple Real Business Cycle Model," South Asian Journal of Macroeconomics and Public Finance, , vol. 14(1), pages 44-59, June.
    162. Maria Elena Filippin, 2025. "Who's in? Household-targeted Government Policies and the Role of Financial Literacy in Market Participation," Papers 2506.12575, arXiv.org, revised Feb 2026.
    163. Tan, Brandon Joel, 2024. "Central bank digital currency and financial inclusion," Journal of Macroeconomics, Elsevier, vol. 81(C).
    164. Muñoz, Manuel A. & Soons, Oscar, 2024. "Public money as a store of value, heterogeneous beliefs and banks: implications of CBDC," ESRB Working Paper Series 146, European Systemic Risk Board.
    165. Ozili, Peterson K, 2023. "A Survey of Central Bank Digital Currency Adoption in African countries," MPRA Paper 118794, University Library of Munich, Germany.
    166. Alessandro Moro & Valerio Nispi Landi, 2023. "The external financial spillovers of CBDCs," Temi di discussione (Economic working papers) 1416, Bank of Italy, Economic Research and International Relations Area.
    167. Michiel Bijlsma & Carin Cruijsen & Nicole Jonker & Jelmer Reijerink, 2024. "What Triggers Consumer Adoption of Central Bank Digital Currency?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(1), pages 1-40, February.
    168. Bas, Tugba & Malki, Issam & Sivaprasad, Sheeja, 2024. "Connectedness between central bank digital currency index, financial stability and digital assets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 92(C).
    169. Ilya N. Gurov & Ivan V. Devyatov, 2025. "Digital Ruble: What Awaits Consumers of Financial Services?," Population and Economics, ARPHA Platform, vol. 9(3), pages 173-197, October.
    170. Becker, Hendrik, 2026. "CBDC demand simulation across high and low inflation regimes," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    171. Raphael Auer & Cyril Monnet & Hyun Song Shin, 2021. "Permissioned Distributed Ledgers and the Governance of Money," Diskussionsschriften dp2101, Universitaet Bern, Departement Volkswirtschaft.
    172. Liu, Xin & Wu, Jiaqi & Zhang, Chenghu, 2025. "Antecedents of consumers' acceptance of central bank digital currency: The role of technology perceptions, social influence and personal traits," Technological Forecasting and Social Change, Elsevier, vol. 217(C).
    173. Emilio Barucci & Andrea Gurgone & Giulia Iori & Michele Azzone, 2025. "Central Bank Digital Currency, Flight-to-Quality, and Bank-Runs in an Agent-Based Model," Papers 2510.21071, arXiv.org, revised Oct 2025.
    174. Santhoshi Gondesi & Kameswari Jada & Ramesh Palisetty & Veena Ishwarappa Bhavikatti & Omnamasivaya Boddeda & Chaitanya Gorli & Tejaswini Bastray & Sony Hiremath, 2024. "Digital currency: an empirical study analyzing its effectiveness in the banking sector," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(11), pages 5182-5195, November.
    175. Cong, Lin William & Mayer, Simon, 2025. "Strategic digitization in currency and payment competition," Journal of Financial Economics, Elsevier, vol. 168(C).
    176. Xin, Baogui & Jiang, Kai, 2023. "Central bank digital currency and the effectiveness of negative interest rate policy: A DSGE analysis," Research in International Business and Finance, Elsevier, vol. 64(C).
    177. Filiz Karpuz & Erdal Güryay & Dervis Kirikkaleli, 2021. "Sustainable-Performance Instrument Development and Validation in the Northern Cyprus Banking Sector," Sustainability, MDPI, vol. 13(14), pages 1-14, July.
    178. Hu, Tai-Wei, 2021. "Optimal monetary policy with interest on reserves and capital over-accumulation," Journal of Economic Theory, Elsevier, vol. 196(C).
    179. James Chapman & Jonathan Chiu & Mohammad Davoodalhosseini & Janet Hua Jiang & Francisco Rivadeneyra & Yu Zhu, 2023. "Central Bank Digital Currencies and Banking: Literature Review and New Questions," Discussion Papers 2023-4, Bank of Canada.
    180. Jiaqi Li, 2021. "Predicting the Demand for Central Bank Digital Currency: A Structural Analysis with Survey Data," Staff Working Papers 21-65, Bank of Canada.
    181. İbrahim Aydın & Zübeyir Çelik & Kaan Yiğenoğlu & Ayhan Cesur, 2024. "Consumers' foresight for the digital Turkish lira: an empirical study," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 214-228, June.
    182. Carletti, Elena & Leonello, Agnese & Marquez, Robert, 2024. "Market power in banking," Working Paper Series 2886, European Central Bank.
    183. Central Bank of Argentina, 2022. "Central bank digital currencies in emerging market economies: a view from Latin America," BIS Papers chapters, in: Bank for International Settlements (ed.), CBDCs in emerging market economies, volume 123, pages 23-30, Bank for International Settlements.
    184. Bellia, Mario & Calès, Ludovic, 2025. "Bank profitability and central bank digital currency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 99(C).
    185. Emilio Barucci & Matteo Brachetta & Daniele Marazzina, 2026. "The Adoption of Central Bank Digital Currency," Management Science, INFORMS, vol. 72(5), pages 3684-3698, May.
    186. Giuseppe Mastromatteo & Sergio Rossi, 2023. "Central Bank Digital Currencies: A Monetary Macroeconomic Analysis," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 76(3), pages 387-416.
    187. Matthew Schaffer & Nimrod Segev, 2023. "Quantitative Easing, Bank Lending, and Aggregate Fluctuations," Bank of Israel Working Papers 2023.01, Bank of Israel.

  7. David Andolfatto, 2018. "Reconciling Orthodox and Heterodox Views on Money and Banking," Working Papers 2018-27, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Ostapenko, V. & Buglevsky, E., 2022. "Money supply in the history of macroeconomic thought: 50 shades of endogeneity," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 156-176.
    2. Rösl, Gerhard, 2024. "A present value concept for measuring welfare," IMFS Working Paper Series 203, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Dirk Niepelt, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," Diskussionsschriften dp2018, Universitaet Bern, Departement Volkswirtschaft.
    4. Markus K. Brunnermeier & Dirk Niepelt, 2019. "On the Equivalence of Private and Public Money," CESifo Working Paper Series 7741, CESifo.
    5. Christian Wipf, 2020. "Should Banks Create Money?," Diskussionsschriften dp2015, Universitaet Bern, Departement Volkswirtschaft.

  8. David Andolfatto & Fernando M. Martin, 2018. "Monetary Policy and Liquid Government Debt," Working Papers 2018-2, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Haydory Akbar Ahmed, 2020. "Monetary base and federal government debt in the long‐run: A non‐linear analysis," Bulletin of Economic Research, Wiley Blackwell, vol. 72(2), pages 167-184, April.
    2. David Andolfatto & Andrew Spewak, 2018. "Understanding Lowflation," Working Papers 2018-24, Federal Reserve Bank of St. Louis.
    3. Lukas Altermatt & Kohei Iwasaki & Randall Wright, 2023. "General Equilibrium with Multiple Liquid Assets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 267-291, December.
    4. Pedro Gomis‐Porqueras, 2020. "Fiscal Requirements for Dynamic and Real Determinacies in Economies with Private Provision of Liquidity: A Monetarist Assessment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 229-267, February.
    5. George-Marios Angeletos & Fabrice Collard & Harris Dellas, 2022. "Public Debt as Private Liquidity: Optimal Policy," Working Papers hal-03763095, HAL.
    6. Lucas Herrenbrueck, 2019. "Interest rates, moneyness, and the Fisher equation," 2019 Meeting Papers 1409, Society for Economic Dynamics.
    7. David Andolfatto, 2018. "Assessing the Impact of Central Bank Digital Currency on Private Banks," Working Papers 2018-026, Federal Reserve Bank of St. Louis, revised 22 Apr 2020.
    8. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    9. Berentsen, Aleksander & Waller, Christopher, 2018. "Liquidity premiums on government debt and the fiscal theory of the price level," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 173-182.
    10. Swapan-Kumar Pradhan & Elod Takats & Judit Temesvary, 2024. "How does fiscal policy affect the transmission of monetary policy into cross-border bank lending? Cross-country evidence," BIS Working Papers 1226, Bank for International Settlements.
    11. Kim, Jeong-Yoo & Choi, Hyung Sun, 2023. "Monetary policy, fiscal policy and cross signal jamming," Journal of Macroeconomics, Elsevier, vol. 75(C).
    12. Begoña Domínguez & Pedro Gomis‐Porqueras, 2023. "Normalizing the Central Bank's Balance Sheet: Implications for Inflation and Debt Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 945-974, June.
    13. Begona Dominguez & Pedro Gomis-Porqueras, 2019. "The effects of secondary markets for government bonds on inflation dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 249-273, April.
    14. Zenglian Zhang & Wenju Zhao, 2018. "Research on Financial Pressure, Poverty Governance, and Environmental Pollution in China," Sustainability, MDPI, vol. 10(6), pages 1-24, June.

  9. David Andolfatto & Aleksander Berentsen & Fernando M. Martin, 2017. "Money, Banking and Financial Markets," Working Papers 2017-23, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Bird, Daniel & Weiss, David, 2026. "Central bank digital currency: When price and bank stability (Don’t) collide," Journal of Economic Dynamics and Control, Elsevier, vol. 184(C).
    2. Chao Gu & Cyril Monnet & Ed Nosal & Randall Wright, 2019. "On the Instability of Banking and other Financial Intermediation," Diskussionsschriften dp1902, Universitaet Bern, Departement Volkswirtschaft.
    3. Altermatt, Lukas & van Buggenum, Hugo & Voellmy, Lukas, 2024. "Systemic bank runs without aggregate risk: How a misallocation of liquidity may trigger a solvency crisis," Journal of Financial Economics, Elsevier, vol. 161(C).
    4. David Rivero & Hugo Rodríguez Mendizábal, 2021. "Banking and Inside Money: Revisiting the Efficiency of Deposit Contracts," Working Papers 1265, Barcelona School of Economics.
    5. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    6. Aryo Sasongko & Cicilia Anggadewi Harun & Geyana Ledy Fista & Kusfisiami Wima Mustika & Aninditha Kemala Dinianyadharani & Karanissa Larasati & Puput Kurniati & Dila Safitri, 2024. "Modeling And Analysis Of Yield Curve And Exchange Rate Formation In Pro-Market Monetary Operations," Working Papers WP/09/2024, Bank Indonesia.
    7. van Buggenum, Hugo, 2023. "Coexistence of money and interest-bearing bonds," Journal of Economic Dynamics and Control, Elsevier, vol. 153(C).
    8. van Buggenum, Hugo & Uras, Burak, 2019. "Money, Asset Markets and Efficiency of Capital Formation," Other publications TiSEM 7db639bc-8d7d-4a3c-8034-a, Tilburg University, School of Economics and Management.
    9. Schilling, Linda & Fernández-Villaverde, Jesús & Uhlig, Harald, 2024. "Central bank digital currency: When price and bank stability collide," Journal of Monetary Economics, Elsevier, vol. 145(C).
    10. Barlevy, Gadi & Bird, Daniel & Fershtman, Daniel & Weiss, David, 2024. "Money under the mattress: Inflation and lending of last resort," Journal of Economic Theory, Elsevier, vol. 217(C).
    11. David Andolfatto, 2018. "Assessing the Impact of Central Bank Digital Currency on Private Banks," Working Papers 2018-026, Federal Reserve Bank of St. Louis, revised 22 Apr 2020.
    12. Makoto (M.) Watanabe & Tarishi Matsuoka, 2019. "Banking Panics and the Lender of Last Resort in a Monetary Economy," Tinbergen Institute Discussion Papers 19-002/V, Tinbergen Institute.
    13. Choi, Michael & Rocheteau, Guillaume, 2023. "A model of retail banking and the deposits channel of monetary policy," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 127-147.
    14. Roberto Robatto, 2024. "Liquidity Requirements and Central Bank Interventions During Banking Crises," Management Science, INFORMS, vol. 70(2), pages 1175-1193, February.
    15. Roberto Robatto, 2019. "Systemic Banking Panics, Liquidity Risk, and Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 34, pages 20-42, October.
    16. Altermatt, Lukas & Wang, Zijian, 2024. "Oligopoly banking, risky investment, and monetary policy," European Economic Review, Elsevier, vol. 164(C).
    17. Lee, Heon, 2025. "On the instability of fractional reserve banking," European Economic Review, Elsevier, vol. 178(C).
    18. James Peck & Abolfazi Setayesh, 2023. "Bank Runs and the Optimality of Limited Banking," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 100-110, January.
    19. Daniel R. Sanches, 2017. "Banking Panics and Output Dynamics," Working Papers 17-20, Federal Reserve Bank of Philadelphia.
    20. Gu, Chao & Monnet, Cyril & Nosal, Ed & Wright, Randall, 2023. "Diamond–Dybvig and beyond: On the instability of banking," European Economic Review, Elsevier, vol. 154(C).
    21. Matsuoka, Tarishi, 2018. "Banks and liquidity crises in emerging market economies," Journal of Economic Dynamics and Control, Elsevier, vol. 94(C), pages 43-62.
    22. Marcelo A. T. Aragão, 2021. "A Few Things You Wanted to Know about the Economics of CBDCs, but were Afraid to Model: a survey of what we can learn from who has done," Working Papers Series 554, Central Bank of Brazil, Research Department.
    23. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).

  10. Andolfatto, David & Martin, Fernando M. & Zhang, Shengxing, 2017. "Rehypothecation and liquidity," LSE Research Online Documents on Economics 84558, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Geromichalos, Athanasios & Herrenbrueck, Lucas, 2016. "The Strategic Determination of the Supply of Liquid Assets," MPRA Paper 71454, University Library of Munich, Germany.
    2. GOTTARDI, Piero; MAURIN, Vincent; MONNET, Cyril, 2017. "A theory of repurchase agreements, collateral re-use, and repo intermediation," Economics Working Papers ECO2017/03, European University Institute.
    3. Andolfatto, David & Martin, Fernando M. & Zhang, Shengxing, 2017. "Rehypothecation and liquidity," European Economic Review, Elsevier, vol. 100(C), pages 488-505.
    4. Piero Gottardi & Vincent Maurin & Cyril Monnet, 2023. "Fragility of Secured Credit Chains," Working Papers 23.01, Swiss National Bank, Study Center Gerzensee.
    5. Alexiou, Georgios Angelis & Pereira, Sofia M. & Rodrigues-Gomes, Victor, 2025. "Repo collateral reuse and liquidity windfalls," Working Paper Series 3147, European Central Bank.
    6. Duc Thi Luu & Mauro Napoletano & Paolo Barucca & Stefano Battiston, 2018. "Collateral Unchained: Rehypothecation networks, concentration and systemic effects," LEM Papers Series 2018/05, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    7. Aleksander Berentsen & Samuel Huber & Alessandro Marchesiani, 2014. "The societal benefit of a financial transaction tax," ECON - Working Papers 176, Department of Economics - University of Zurich, revised Jul 2016.
    8. Brumm, Johannes & Grill, Michael & Kubler, Felix & Schmedders, Karl, 2018. "Re-use of collateral: leverage, volatility, and welfare," Working Paper Series 2218, European Central Bank.
    9. Miguel Fernandes & Mario Pascoa, 2024. "Repo, Sponsored Repo and Macro-prudential Regulation," School of Economics Discussion Papers 0224, School of Economics, University of Surrey.
    10. Kee-Youn Kang, 2019. "Central Bank purchases of private assets: An evaluation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 326-346, January.
    11. Issa, George & Jarnecic, Elvis, 2024. "Collateral reuse as a direct funding mechanism in repo markets," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    12. Matteo Accornero, 2020. "Collateral Re-use, Liquidity and Financial Stability," Working Papers 10/20, Sapienza University of Rome, DISS.
    13. Infante, Sebastian, 2019. "Liquidity windfalls: The consequences of repo rehypothecation," Journal of Financial Economics, Elsevier, vol. 133(1), pages 42-63.
    14. Huber, Samuel & Kim, Jaehong, 2017. "On the optimal quantity of liquid bonds," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 184-200.
    15. Gottardi, Piero & Maurin, Vincent & Monnet, Cyril, 2021. "Financial Fragility with Collateral Circulation," CEPR Discussion Papers 15757, Centre for Economic Policy Research.
    16. Justus Inhoffen & Iman van Lelyveld, 2023. "Safe Asset Scarcity and Re-use in the European Repo Market," Working Papers 787, DNB.
    17. Yichen Luo & Yebo Feng & Jiahua Xu & Paolo Tasca, 2024. "Piercing the Veil of TVL: DeFi Reappraised," Papers 2404.11745, arXiv.org, revised Jul 2025.

  11. Fernando Martin & Aleksander Berentsen & David Andolfatto, 2016. "Financial Fragility in Monetary Economies," 2016 Meeting Papers 1626, Society for Economic Dynamics.

    Cited by:

    1. Christian Wipf, 2020. "Should Banks Create Money?," Diskussionsschriften dp2015, Universitaet Bern, Departement Volkswirtschaft.

  12. David Andolfatto & Stephen D. Williamson, 2015. "Scarcity of Safe Assets, Inflation, and the Policy Trap," Working Papers 2015-2, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Herrenbrueck, Lucas, 2019. "Frictional asset markets and the liquidity channel of monetary policy," Journal of Economic Theory, Elsevier, vol. 181(C), pages 82-120.
    2. Lenel, Moritz & Piazzesi, Monika & Schneider, Martin, 2019. "The short rate disconnect in a monetary economy," Journal of Monetary Economics, Elsevier, vol. 106(C), pages 59-77.
    3. Zijian Wang, 2023. "Money Laundering and the Privacy Design of Central Bank Digital Currency," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 604-632, December.
    4. Williamson, Stephen D., 2019. "Interest on reserves, interbank lending, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 101(C), pages 14-30.
    5. David Andolfatto & Andrew Spewak, 2018. "Understanding Lowflation," Working Papers 2018-24, Federal Reserve Bank of St. Louis.
    6. Feng Dong & Yi Wen, 2017. "Flight to What? — Dissecting Liquidity Shortages in the Financial Crisis," Working Papers 2017-25, Federal Reserve Bank of St. Louis.
    7. Athanasios Geromichalos & Lucas Herrenbrueck, 2022. "The Liquidity-Augmented Model of Macroeconomic Aggregates: A New Monetarist DSGE Approach," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 134-167, July.
    8. Lukas Altermatt & Kohei Iwasaki & Randall Wright, 2023. "General Equilibrium with Multiple Liquid Assets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 267-291, December.
    9. Guillaume Rocheteau & Pierre-Olivier Weill & Russell Wong, 2017. "A Tractable Model of Monetary Exchange with Ex-Post Heterogeneity," Working Paper 17-6, Federal Reserve Bank of Richmond.
    10. Stephen D. Williamson, 2017. "Low Real Interest Rates and the Zero Lower Bound," Working Papers 2017-10, Federal Reserve Bank of St. Louis.
    11. Yılmaz, Engin & Süslü, Bora, 2015. "The Relation between Money, Interest and Consumption in Developing Countries: The Case of Turkey," MPRA Paper 68614, University Library of Munich, Germany.
    12. Piazzesi, Monika & Lenel, Moritz & Schneider, Martin, 2019. "The Short Rate Disconnect in a Monetary Economy," CEPR Discussion Papers 13947, Centre for Economic Policy Research.
    13. Joseph Steinberg, 2019. "On the Source of U.S. Trade Deficits: Global Saving Glut or Domestic Saving Drought?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 31, pages 200-223, January.
    14. Moritz Lenel & Monika Piazzesi & Martin Schneider, 2019. "The Short Rate Disconnect in a Monetary Economy," NBER Working Papers 26102, National Bureau of Economic Research, Inc.
    15. David Andolfatto, 2015. "A Model of U.S. Monetary Policy Before and After the Great Recession," Review, Federal Reserve Bank of St. Louis, vol. 97(3), pages 233-256.
    16. Athanasios Geromichalos & Lucas Herrenbrueck, 2017. "The Liquidity-Augmented Model of Macroeconomic Aggregates," Discussion Papers dp17-16, Department of Economics, Simon Fraser University.
    17. Lucas Herrenbrueck, 2019. "Interest rates, moneyness, and the Fisher equation," 2019 Meeting Papers 1409, Society for Economic Dynamics.
    18. Giuseppe Ferrero & Michele Loberto & Marcello Miccoli, 2017. "The collateral channel of unconventional monetary policy," Temi di discussione (Economic working papers) 1119, Bank of Italy, Economic Research and International Relations Area.
    19. William J. Crowder, 2020. "The Neo-Fisherian hypothesis: empirical implications and evidence?," Empirical Economics, Springer, vol. 58(6), pages 2867-2888, June.
    20. Feng Dong & Yi Wen, 2017. "Optimal Monetary Policy under Negative Interest Rate," Working Papers 2017-19, Federal Reserve Bank of St. Louis.
    21. Liu, Yu-Chen & Li, Yiting, 2024. "Corporate finance, collateralized borrowing, and monetary policy," European Economic Review, Elsevier, vol. 170(C).
    22. Stephen D. Williamson, 2018. "Inflation Control: Do Central Bankers Have It Right?," Review, Federal Reserve Bank of St. Louis, vol. 100(2), pages 127-150.
    23. Roberto Piazza, 2016. "Self-fulfilling deflations," Temi di discussione (Economic working papers) 1080, Bank of Italy, Economic Research and International Relations Area.
    24. Uhlig, Harald & De Fiore, Fiorella & Hoerova, Marie, 2018. "Money Markets, Collateral and Monetary Policy," CEPR Discussion Papers 13335, Centre for Economic Policy Research.
    25. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    26. Stephen Williamson, 2019. "Neo‐Fisherism and inflation control," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 52(3), pages 882-913, August.
    27. Michael Bordo & Robert N McCauley, 2017. "Triffin: dilemma or myth?," BIS Working Papers 684, Bank for International Settlements.
    28. Mathieu Boullot, 2017. "Secular Stagnation, Liquidity Trap and Rational Asset Price Bubbles," Working Papers halshs-01295012, HAL.
    29. Fatih Tuluk, 2021. "Collateral Misrepresentation, External Auditing, and Optimal Supervisory Policy," Open Economies Review, Springer, vol. 32(5), pages 975-1016, November.
    30. Athanasios Geromichalos & Lucas Herrenbrueck, 2015. "A Tractable Model of Indirect Asset Liquidity," Working Papers 126, University of California, Davis, Department of Economics.
    31. Kim, Duhyeong, 2023. "International effects of quantitative easing and foreign exchange intervention," Journal of International Economics, Elsevier, vol. 145(C).
    32. Rocheteau, Guillaume & Wright, Randall & Xiaolin Xiao, Sylvia, 2018. "Open market operations," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 114-128.
    33. James B. Bullard, 2016. "Permazero," Review, Federal Reserve Bank of St. Louis, vol. 98(2).
      • James B. Bullard, 2015. "Permazero," Speech 256, Federal Reserve Bank of St. Louis.
      • James Bullard, 2016. "Permazero," Cato Journal, Cato Journal, Cato Institute, vol. 36(2), pages 415-429, Spring/Su.
    34. Stephen D. Williamson, 2015. "Current Federal Reserve Policy Under the Lens of Economic History: A Review Essay," Working Papers 2015-15, Federal Reserve Bank of St. Louis.
    35. Andolfatto, David & Martin, Fernando M., 2018. "Monetary policy and liquid government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 183-199.
    36. Williamson, Stephen D., 2018. "Can the fiscal authority constrain the central bank?," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 154-172.
    37. Kim, Duhyeong, 2025. "Negative nominal interest rates and monetary policy," Journal of Monetary Economics, Elsevier, vol. 154(C).
    38. Begona Dominguez & Pedro Gomis-Porqueras, 2019. "The effects of secondary markets for government bonds on inflation dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 249-273, April.
    39. Harrison, Andre & Reed, Robert R., 2023. "International capital flows, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 77(C).
    40. Yao, Wei, 2025. "The US Quantitative Easing Monetary Policy and Commodities’ Prices," Other publications TiSEM 185d14d3-9dc2-4276-82ec-e, Tilburg University, School of Economics and Management.
    41. Giuseppe Ferrero & Michele Loberto & Marcello Miccoli, 2021. "The assets’ pledgeability channel of unconventional monetary policy," Economic Inquiry, Western Economic Association International, vol. 59(4), pages 1547-1568, October.
    42. Christian Pfister & Natacha Valla, 2018. "New Normal or New Orthodoxy ? Elements of a Central Banking Framework for the After-Crisis," Working papers 680, Banque de France.
    43. Gary Gorton & Ping He, 2023. "Optimal monetary policy in a collateralized economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(1), pages 55-89, January.
    44. Jaevin Park, 2020. "Inside Money, Business Cycle, and Bank Capital Requirements," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 103-121, April.
    45. Chien-Chiang Wang, 2023. "Asset Market Frictions, Household Heterogeneity, and the Liquidity Theory of the Term Structure," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 67-99, January.
    46. Jung, Kuk Mo, 2018. "Uncertainty-induced dynamic inefficiency and the optimal inflation rate," International Review of Economics & Finance, Elsevier, vol. 56(C), pages 486-506.

  13. Shengxing Zhang & Fernando Martin & David Andolfatto, 2014. "Rehypothecation," 2014 Meeting Papers 806, Society for Economic Dynamics.

    Cited by:

    1. Park, Hyejin & Kahn, Charles M., 2019. "Collateral, rehypothecation, and efficiency," Journal of Financial Intermediation, Elsevier, vol. 39(C), pages 34-46.

  14. Ed Nosal & Bruno Sultanum & David Andolfatto, 2014. "Equilibrium Bank Runs Revisied," 2014 Meeting Papers 1142, Society for Economic Dynamics.

    Cited by:

    1. Fernando Martin & Aleksander Berentsen & David Andolfatto, 2016. "Financial Fragility in Monetary Economies," 2016 Meeting Papers 1626, Society for Economic Dynamics.
    2. Li, Yang, 2017. "Interest rates and financial fragility," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 195-205.
    3. Huberto M. Ennis & Todd Keister, 2015. "Optimal Banking Contracts and Financial Fragility," Working Paper 15-6, Federal Reserve Bank of Richmond.
    4. Roberto Robatto, 2015. "Financial Crises and Systemic Bank Runs in a Dynamic Model of Banking," 2015 Meeting Papers 483, Society for Economic Dynamics.
    5. Bruno Sultanum, 2017. "Financial Fragility and Over-the-counter Markets," 2017 Meeting Papers 1122, Society for Economic Dynamics.
    6. David Andolfatto & Ed Nosal, 2017. "Bank Panics and Scale Economies," Working Papers 2017-9, Federal Reserve Bank of St. Louis.
    7. Simas Kucinskas, 2015. "Liquidity Creation without Banks," Tinbergen Institute Discussion Papers 15-101/VI, Tinbergen Institute.
    8. Natalia V. Koshel, 2018. "More than Supervision: Identifying Opportunistic Bank Behavior through Marketing Tools," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 144-157.
    9. Zhen Zhou & Deepal Basak, 2015. "Diffusing Coordination Risk," 2015 Meeting Papers 1350, Society for Economic Dynamics.
    10. Kučinskas, Simas, 2019. "Aggregate risk and efficiency of mutual funds," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 1-11.
    11. David Andolfatto & Ed Nosal, 2018. "Bank Runs without Sequential Service," FRB Atlanta Working Paper 2018-6, Federal Reserve Bank of Atlanta.
    12. Markus Kinateder & Hubert Janos Kiss & Agnes Pinter, 2015. "Would depositors like to show others that they do not withdraw? Theory and Experiment," KRTK-KTI WORKING PAPERS 1553, Institute of Economics, Centre for Economic and Regional Studies.

  15. David Andolfatto & Ed Nosal & Bruno Sultanum, 2014. "Preventing Bank Runs," Working Paper Series WP-2014-19, Federal Reserve Bank of Chicago.

    Cited by:

    1. David Andolfatto & Ed Nosal, 2020. "Shadow Bank Runs," FRB Atlanta Working Paper 2020-14, Federal Reserve Bank of Atlanta.
    2. Fernando Martin & Aleksander Berentsen & David Andolfatto, 2016. "Financial Fragility in Monetary Economies," 2016 Meeting Papers 1626, Society for Economic Dynamics.
    3. Huang, Xuesong, 2024. "Sophisticated banking contracts and fragility when withdrawal information is public," Theoretical Economics, Econometric Society, vol. 19(1), January.
    4. Routledge, Bryan & Zetlin-Jones, Ariel, 2022. "Currency stability using blockchain technology," Journal of Economic Dynamics and Control, Elsevier, vol. 142(C).
    5. Li, Yang, 2017. "Interest rates and financial fragility," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 195-205.
    6. Huberto M. Ennis & Todd Keister, 2015. "Optimal Banking Contracts and Financial Fragility," Working Paper 15-6, Federal Reserve Bank of Richmond.
    7. Bruno Sultanum, 2021. "The Cost of Information in the Blockchain: A Discussion of Routledge and Zetlin-Jones," Working Paper 21-02, Federal Reserve Bank of Richmond.
    8. Hubert J. Kiss & Ismael Rodriguez-Lara & Alfonso Rosa-Garcia, 2021. "Experimental Bank Runs," ThE Papers 21/03, Department of Economic Theory and Economic History of the University of Granada..
    9. Belotti, Federico & Campioni, Eloisa & Larocca, Vittorio & Marazzi, Francesca & Panaccione, Luca & Piano Mortari, Andrea, 2024. "Coordination failure in experimental banks of different sizes," Journal of Behavioral and Experimental Finance, Elsevier, vol. 44(C).
    10. Roberto Robatto, 2015. "Financial Crises and Systemic Bank Runs in a Dynamic Model of Banking," 2015 Meeting Papers 483, Society for Economic Dynamics.
    11. Schilling, Linda, 2024. "Smooth Regulatory Intervention," MPRA Paper 120041, University Library of Munich, Germany.
    12. Bruno Sultanum, 2017. "Financial Fragility and Over-the-counter Markets," 2017 Meeting Papers 1122, Society for Economic Dynamics.
    13. David Andolfatto & Ed Nosal, 2017. "Bank Panics and Scale Economies," Working Papers 2017-9, Federal Reserve Bank of St. Louis.
    14. Simas Kucinskas, 2015. "Liquidity Creation without Banks," Tinbergen Institute Discussion Papers 15-101/VI, Tinbergen Institute.
    15. Keister, Todd & Mitkov, Yuliyan, 2023. "Allocating losses: Bail-ins, bailouts and bank regulation," Journal of Economic Theory, Elsevier, vol. 210(C).
    16. Schilling, Linda, 2023. "Smooth versus Harsh Regulatory Interventions and Policy Equivalence," MPRA Paper 116612, University Library of Munich, Germany.
    17. Voellmy, Lukas, 2024. "Preventing runs under sequential revelation of liquidity needs," Journal of Economic Dynamics and Control, Elsevier, vol. 158(C).
    18. Xuesong Huang & Todd Keister, 2025. "Can Redemption Fees Prevent Runs on Funds?," Staff Reports 1160, Federal Reserve Bank of New York.
    19. Laureti, Carolina & Szafarz, Ariane, 2023. "Banking regulation and costless commitment contracts for time-inconsistent agents," Economic Modelling, Elsevier, vol. 129(C).
    20. Jason R. Donaldson & Giorgia Piacentino, 2019. "Money Runs," NBER Working Papers 26298, National Bureau of Economic Research, Inc.
    21. Hubert J. Kiss & Ismael Rodriguez-Lara & Alfonso Rosa-Garcia, 2022. "Preventing (Panic) Bank Runs," KRTK-KTI WORKING PAPERS 2213, Institute of Economics, Centre for Economic and Regional Studies.
    22. Jiahong Gao & Robert R. Reed, 2023. "Preventing bank panics: The role of the regulator's preferences," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(2), pages 387-422, May.
    23. Natalia V. Koshel, 2018. "More than Supervision: Identifying Opportunistic Bank Behavior through Marketing Tools," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 144-157.
    24. Schilling, Linda, 2026. "Pitfalls and Optimal Design of Emergency Liquidity Assistance," MPRA Paper 128236, University Library of Munich, Germany.
    25. James Peck & Abolfazi Setayesh, 2023. "Bank Runs and the Optimality of Limited Banking," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 100-110, January.
    26. Zhen Zhou & Deepal Basak, 2015. "Diffusing Coordination Risk," 2015 Meeting Papers 1350, Society for Economic Dynamics.
    27. Gu, Chao & Monnet, Cyril & Nosal, Ed & Wright, Randall, 2023. "Diamond–Dybvig and beyond: On the instability of banking," European Economic Review, Elsevier, vol. 154(C).
    28. Parnes, Dror, 2021. "Modeling the contagion of bank runs with a Markov model," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 174-187.
    29. Kučinskas, Simas, 2019. "Aggregate risk and efficiency of mutual funds," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 1-11.
    30. Barros, Fernando & Cruz, Samuel & Delalibera, Bruno R. & Silva, Diego, 2025. "Deposit insurance in a sequential-service constrained environment," Mathematical Social Sciences, Elsevier, vol. 136(C).
    31. Donaldson, Jason & Piacentino, Giorgia, 2019. "Money Runs," CEPR Discussion Papers 13955, Centre for Economic Policy Research.
    32. Bucher, Monika & Dietrich, Diemo & Tvede, Mich, 2018. "Coordination failures, bank runs and asset prices," Discussion Papers 39/2018, Deutsche Bundesbank.
    33. Schilling, Linda, 2017. "Optimal Forbearance of Bank Resolution," MPRA Paper 112409, University Library of Munich, Germany.
    34. David Andolfatto & Ed Nosal, 2018. "Bank Runs without Sequential Service," FRB Atlanta Working Paper 2018-6, Federal Reserve Bank of Atlanta.
    35. Markus Kinateder & Hubert Janos Kiss & Agnes Pinter, 2015. "Would depositors like to show others that they do not withdraw? Theory and Experiment," KRTK-KTI WORKING PAPERS 1553, Institute of Economics, Centre for Economic and Regional Studies.
    36. Lukas Altermatt & Hugo van Buggenum & Lukas Voellmy, 2022. "Systemic bank runs without aggregate risk: how a misallocation of liquidity may trigger a solvency crisis," Working Papers 2022-10, Swiss National Bank.

  16. Christopher Waller & Aleksander Berentsen & David Andolfatto, 2013. "Monetary Policy in Private Money Economies," 2013 Meeting Papers 1060, Society for Economic Dynamics.

    Cited by:

    1. Marcelo A. T. Aragão, 2021. "A Few Things You Wanted to Know about the Economics of CBDCs, but were Afraid to Model: a survey of what we can learn from who has done," Working Papers Series 554, Central Bank of Brazil, Research Department.

  17. David Andolfatto & Aleksander Berentsen & Christopher J. Waller, 2013. "Monetary policy with asset-backed money," Working Papers 2013-030, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Fernández-Villaverde, Jesús & Sanches, Daniel, 2019. "Can currency competition work?," Journal of Monetary Economics, Elsevier, vol. 106(C), pages 1-15.
    2. van Buggenum, Hugo & Uras, Burak, 2019. "Money, Asset Markets and Efficiency of Capital Formation," Other publications TiSEM 7db639bc-8d7d-4a3c-8034-a, Tilburg University, School of Economics and Management.
    3. van Buggenum, Hugo, 2021. "Risk, Inside Money, and the Real Economy," Other publications TiSEM daabe114-81fa-44fc-aafd-b, Tilburg University, School of Economics and Management.
    4. Lukas Altermatt & Christian Wipf, 2020. "Liquidity, the Mundell-Tobin Effect, and the Friedman Rule," Diskussionsschriften dp2013, Universitaet Bern, Departement Volkswirtschaft.
    5. Wright, Randall & Xiao, Sylvia Xiaolin & Zhu, Yu, 2018. "Frictional capital reallocation I: Ex ante heterogeneity," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 100-116.
    6. Todd Keister & Daniel R. Sanches, 2021. "Should Central Banks Issue Digital Currency?," Working Papers 21-37, Federal Reserve Bank of Philadelphia.
    7. Tomura, Hajime, 2018. "Payment instruments and collateral in the interbank payment system," Journal of Economic Theory, Elsevier, vol. 178(C), pages 82-104.
    8. Jonathan Chiu & Seyed Mohammadreza Davoodalhosseini, 2023. "Central Bank Digital Currency and Banking: Macroeconomic Benefits of a Cash-Like Design," Management Science, INFORMS, vol. 69(11), pages 6708-6730, November.
    9. Park, Jaevin, 2025. "Inside money, fraud and self-fulfilling liquidity dry-up," Journal of Economic Dynamics and Control, Elsevier, vol. 181(C).
    10. van Buggenum, Hugo, 2021. "Risk, Inside Money, and the Real Economy," Discussion Paper 2021-020, Tilburg University, Center for Economic Research.
    11. Hu, Tai-Wei, 2021. "Optimal monetary policy with interest on reserves and capital over-accumulation," Journal of Economic Theory, Elsevier, vol. 196(C).
    12. Hajime Tomura, 2020. "A Model of Bank-Note Runs," Working Papers 1922, Waseda University, Faculty of Political Science and Economics.

  18. David Andolfatto & Aleksander Berentsen & Christopher J. Waller, 2012. "Optimal disclosure policy and undue diligence," Working Papers 2012-001, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Erwan Quintin & Cyril Monnet, 2014. "A Theory of Blind Trading," 2014 Meeting Papers 283, Society for Economic Dynamics.
    2. Chao Gu & Han Han & Randall Wright, 2016. "The Effects of Monetary Policy and Other Announcements," Working Papers 1621, Department of Economics, University of Missouri.
    3. Athanasios Geromichalos & Kuk Mo Jung & Ioannis Kospentaris & Changhyun Lee & Sukjoon Lee, 2025. "Central bank interventions and asset market liquidity," Working Papers 373, University of California, Davis, Department of Economics.
    4. Baek, Seungjun, 2022. "Optimal policy in lemon markets with flexible information acquisition," Economic Modelling, Elsevier, vol. 106(C).
    5. Chao Gu & Cyril Monnet & Ed Nosal & Randall Wright, 2019. "On the Instability of Banking and other Financial Intermediation," Diskussionsschriften dp1902, Universitaet Bern, Departement Volkswirtschaft.
    6. Jungherr, Joachim, 2016. "Bank opacity and financial crises," Economics Working Papers ADE2016/02, European University Institute.
    7. Jungherr, Joachim, 2018. "Bank opacity and financial crises," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 157-176.
    8. Galanis, Spyros, 2016. "The value of information in risk-sharing environments with unawareness," Games and Economic Behavior, Elsevier, vol. 97(C), pages 1-18.
    9. Athanasios Geromichalos & Lucas Herrenbrueck & Zijian Wang, 2026. "Asymmetric information, asset markets, and the medium of exchange," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 81(3), pages 689-749, May.
    10. Janet Hua Jiang & Peter Norman & Daniela Puzzello & Bruno Sultanum & Randall Wright, 2021. "Is Money Essential? An Experimental Approach," Working Paper 21-12, Federal Reserve Bank of Richmond.
    11. Wang, Zijian, 2019. "Trading Motives in Asset Markets," MPRA Paper 91401, University Library of Munich, Germany.
    12. Allen, Franklin & Vayanos, Dimitri & Vives, Xavier, 2014. "Introduction to financial economics," Journal of Economic Theory, Elsevier, vol. 149(C), pages 1-14.
    13. Geromichalos, Athanasios & Herrenbrueck, Lucas M. & Salyer, Kevin D., 2016. "A search-theoretic model of the term premium," Theoretical Economics, Econometric Society, vol. 11(3), September.
    14. Athanasios Geromichalos & Kuk Mo Jung, 2019. "Monetary Policy and Efficiency in Over-the-Counter Financial Trade," Working Papers 1903, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    15. Gary Gorton & Guillermo Ordo?ez, 2014. "Collateral Crises," American Economic Review, American Economic Association, vol. 104(2), pages 343-378, February.
    16. van Buggenum, Hugo, 2021. "Risk, Inside Money, and the Real Economy," Other publications TiSEM daabe114-81fa-44fc-aafd-b, Tilburg University, School of Economics and Management.
    17. Chao Gu & Cyril Monnet & Ed Nosal & Randall Wright, 2019. "On the Instability of Banking and Financial Intermediation," Working Papers 1901, Department of Economics, University of Missouri.
    18. Chao Gu & Han Han & Randall Wright, 2020. "The Effects Of News When Liquidity Matters," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(4), pages 1411-1435, November.
    19. Uras, Burak R., 2020. "Finance and development: Rethinking the role of financial transparency," Journal of Banking & Finance, Elsevier, vol. 111(C).
    20. Gabrovski, Miroslav & Geromichalos, Athanasios & Herrenbrueck, Lucas & Kospentaris, Ioannis & Lee, Sukjoon, 2025. "The real effects of financial disruptions in a monetary economy," Journal of Monetary Economics, Elsevier, vol. 151(C).
    21. Miroslav Gabrovski & Athanasios Geromichalos & Lucas Herrenbrueck & Ioannis Kospentaris & Sukjoon Lee, 2025. "How does asset market liquidity affect the real economy? A quantitative assessment of the transmission channels," Working Papers 202501, University of Hawaii at Manoa, Department of Economics.
    22. Goncharenko, Roman & Hledik, Juraj & Pinto, Roberto, 2018. "The dark side of stress tests: Negative effects of information disclosure," Journal of Financial Stability, Elsevier, vol. 37(C), pages 49-59.
    23. Goldstein, Itay & Leitner, Yaron, 2018. "Stress tests and information disclosure," Journal of Economic Theory, Elsevier, vol. 177(C), pages 34-69.
    24. James B. Davies & Samantha L. Black, 2020. "Distributional Effects of Flooding, with an Application to a Major Urban Area," University of Western Ontario, Departmental Research Report Series 20201, University of Western Ontario, Department of Economics.
    25. Geromichalos, Athanasios & Jung, Kuk Mo, 2024. "Heterogeneous asset valuation in OTC markets and optimal inflation," Journal of Economic Dynamics and Control, Elsevier, vol. 161(C).
    26. Choi, Michael, 2018. "Imperfect information transmission and adverse selection in asset markets," Journal of Economic Theory, Elsevier, vol. 176(C), pages 619-649.
    27. Lee, Sukjoon, 2020. "Liquidity Premium, Credit Costs, and Optimal Monetary Policy," MPRA Paper 104825, University Library of Munich, Germany.
    28. Gu, Chao & Monnet, Cyril & Nosal, Ed & Wright, Randall, 2023. "Diamond–Dybvig and beyond: On the instability of banking," European Economic Review, Elsevier, vol. 154(C).
    29. Athanasios Geromichalos & Lucas Herrenbrueck & Sukjoon Lee, 2023. "The Strategic Determination of the Supply of Liquid Assets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 1-36, July.
    30. Kang, Kee-Youn, 2021. "Optimal contract for asset trades: Collateralizing or selling?," Journal of Financial Markets, Elsevier, vol. 56(C).
    31. Jang, Inkee & Kang, Kee-Youn, 2021. "Adverse selection and costly information acquisition in asset markets," Journal of Mathematical Economics, Elsevier, vol. 97(C).
    32. Zhifeng Cai & Feng Dong, 2021. "A Model of Secular Migration from Centralized to Decentralized Trade," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(1), pages 201-244, July.
    33. Vincent Bignon & R. Dutu, 2014. "Coin Assaying and Commodity Money," Working papers 506, Banque de France.
    34. Athanasios Geromichalos & Lucas Herrenbrueck, 2016. "Monetary Policy, Asset Prices, and Liquidity in Over‐the‐Counter Markets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(1), pages 35-79, February.
    35. Park, Jaevin, 2025. "Inside money, fraud and self-fulfilling liquidity dry-up," Journal of Economic Dynamics and Control, Elsevier, vol. 181(C).
    36. van Buggenum, Hugo, 2021. "Risk, Inside Money, and the Real Economy," Discussion Paper 2021-020, Tilburg University, Center for Economic Research.
    37. Wang, Yijing, 2022. "A Liquidity-based Resolution to the Dividend Puzzle," MPRA Paper 115560, University Library of Munich, Germany.
    38. Monnet, Cyril & Quintin, Erwan, 2017. "Limited disclosure and hidden orders in asset markets," Journal of Financial Economics, Elsevier, vol. 123(3), pages 602-616.
    39. Natalia Kovrijnykh & Igor Livshits & Ariel Zetlin-Jones, 2026. "Building Credit Histories," Working Papers 26-17, Federal Reserve Bank of Philadelphia.

  19. David Andolfatto & Fernando M. Martin, 2012. "Information disclosure and exchange media," Working Papers 2012-012, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Geromichalos, Athanasios & Herrenbrueck, Lucas, 2016. "The Strategic Determination of the Supply of Liquid Assets," MPRA Paper 71454, University Library of Munich, Germany.
    2. Athanasios Geromichalos & Lucas Herrenbrueck, 2022. "The Liquidity-Augmented Model of Macroeconomic Aggregates: A New Monetarist DSGE Approach," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 134-167, July.
    3. Jungherr, Joachim, 2016. "Bank opacity and financial crises," Economics Working Papers ADE2016/02, European University Institute.
    4. Jungherr, Joachim, 2018. "Bank opacity and financial crises," Journal of Banking & Finance, Elsevier, vol. 97(C), pages 157-176.
    5. Andolfatto, David & Martin, Fernando M. & Zhang, Shengxing, 2017. "Rehypothecation and liquidity," European Economic Review, Elsevier, vol. 100(C), pages 488-505.
    6. Geromichalos, Athanasios & Herrenbrueck, Lucas M. & Salyer, Kevin D., 2016. "A search-theoretic model of the term premium," Theoretical Economics, Econometric Society, vol. 11(3), September.
    7. Athanasios Geromichalos & Lucas Herrenbrueck, 2017. "The Liquidity-Augmented Model of Macroeconomic Aggregates," Discussion Papers dp17-16, Department of Economics, Simon Fraser University.
    8. Athanasios Geromichalos & Kuk Mo Jung, 2019. "Monetary Policy and Efficiency in Over-the-Counter Financial Trade," Working Papers 1903, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    9. Geromichalos, Athanasios & Jung, Kuk Mo & Lee, Seungduck & Carlos, Dillon, 2021. "A model of endogenous direct and indirect asset liquidity," European Economic Review, Elsevier, vol. 132(C).
    10. Gu, Chao & Monnet, Cyril & Nosal, Ed & Wright, Randall, 2023. "Diamond–Dybvig and beyond: On the instability of banking," European Economic Review, Elsevier, vol. 154(C).
    11. Kang, Kee-Youn, 2021. "Optimal contract for asset trades: Collateralizing or selling?," Journal of Financial Markets, Elsevier, vol. 56(C).
    12. Athanasios Geromichalos & Kuk Mo Jung & Seungduck Lee & Dillon Carlos, 2019. "Asset Liquidity in Monetary Theory and Finance: A Unified Approach," Working Papers 330, University of California, Davis, Department of Economics.
    13. Jang, Inkee & Kang, Kee-Youn, 2021. "Adverse selection and costly information acquisition in asset markets," Journal of Mathematical Economics, Elsevier, vol. 97(C).
    14. Nicolas Figueroa & CARLOS RAMIREZ & Oksana Leukhina, 2019. "Imperfect Information Transmission from Banks to Investors: Macroeconomic Implications," 2019 Meeting Papers 1105, Society for Economic Dynamics.
    15. Vincent Bignon & R. Dutu, 2014. "Coin Assaying and Commodity Money," Working papers 506, Banque de France.
    16. Han, Han & Liu, Tao & Lu, Dong, 2026. "The announcement effect on international currency choices: Theory and evidence," Journal of International Money and Finance, Elsevier, vol. 160(C).
    17. Andolfatto, David & Berentsen, Aleksander & Waller, Christopher, 2014. "Optimal disclosure policy and undue diligence," Journal of Economic Theory, Elsevier, vol. 149(C), pages 128-152.
    18. Athanasios Geromichalos & Lucas Herrenbrueck & Sukjoon Lee, 2018. "Asset Safety versus Asset Liquidity," Working Papers 326, University of California, Davis, Department of Economics.

  20. David Andolfatto, 2011. "Undue Diligence," 2011 Meeting Papers 994, Society for Economic Dynamics.

    Cited by:

    1. Geromichalos, Athanasios & Herrenbrueck, Lucas, 2016. "The Strategic Determination of the Supply of Liquid Assets," MPRA Paper 71454, University Library of Munich, Germany.
    2. Athanasios Geromichalos & Kuk Mo Jung, 2019. "Monetary Policy and Efficiency in Over-the-Counter Financial Trade," Working Papers 1903, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    3. Gary Gorton & Guillermo Ordonez, 2011. "Collateral Crises," IMES Discussion Paper Series 11-E-25, Institute for Monetary and Economic Studies, Bank of Japan.
    4. Athanasios Geromichalos & Kuk Mo Jung & Seungduck Lee & Dillon Carlos, 2019. "Asset Liquidity in Monetary Theory and Finance: A Unified Approach," Working Papers 330, University of California, Davis, Department of Economics.
    5. Athanasios Geromichalos & Lucas Herrenbrueck & Sukjoon Lee, 2018. "Asset Safety versus Asset Liquidity," Working Papers 326, University of California, Davis, Department of Economics.

  21. David Andolfatto, 2011. "The simple analytics of money and credit in a quasi-linear environment," Working Papers 2011-038, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Janet Hua, Jiang & Mei, Dong, 2008. "One or Two Monies?," MPRA Paper 14846, University Library of Munich, Germany.
    2. Francesca Carapella & Stephen D. Williamson, 2014. "Credit markets, limited commitment, and government debt," Working Papers 2014-10, Federal Reserve Bank of St. Louis.
    3. Andolfatto, David, 2008. "Essential Interest-Bearing Money (2008)," MPRA Paper 8565, University Library of Munich, Germany.
    4. Daniel R. Sanches, 2010. "A dynamic model of unsecured credit," Working Papers 11-2, Federal Reserve Bank of Philadelphia.

  22. David Andolfatto, 2010. "On the social cost of transparency in monetary economies," Working Papers 2010-001, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Marco Bassetto & David S. Miller, 2022. "A monetary-fiscal theory of sudden inflations," IFS Working Papers W22/56, Institute for Fiscal Studies.
    2. David Andolfatto & Aleksander Berentsen & Christopher J. Waller, 2012. "Optimal disclosure policy and undue diligence," Working Papers 2012-001, Federal Reserve Bank of St. Louis.
    3. Wang, Zijian, 2019. "Trading Motives in Asset Markets," MPRA Paper 91401, University Library of Munich, Germany.
    4. Tri Vi Dang & Gary Gorton & Beng Holmstrom & Guillermo Ordonez, 2014. "Banks as Secret Keepers," PIER Working Paper Archive 14-022, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    5. A. Mantovi, 2019. "Information insensitivity, collateral flows and the logic of financial stability," Economics Department Working Papers 2019-EP01, Department of Economics, Parma University (Italy).
    6. Gary Gorton & Guillermo Ordo?ez, 2014. "Collateral Crises," American Economic Review, American Economic Association, vol. 104(2), pages 343-378, February.
    7. Williamson, Stephen D. & Wright, Randall, 2010. "New Monetarist Economics: Models," MPRA Paper 21030, University Library of Munich, Germany.
    8. Anderson, Haelim & Copeland, Adam, 2023. "Information management in times of crisis," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 35-49.
    9. James B. Davies & Samantha L. Black, 2020. "Distributional Effects of Flooding, with an Application to a Major Urban Area," University of Western Ontario, Departmental Research Report Series 20201, University of Western Ontario, Department of Economics.
    10. Natalia Kovrijnykh & Igor Livshits & Ariel Zetlin-Jones, 2026. "Building Credit Histories," Working Papers 26-17, Federal Reserve Bank of Philadelphia.

  23. David Andolfatto & Fernando M. Martin, 2009. "Money and capital as competing media of exchange in a news economy," Working Papers 2009-046, Federal Reserve Bank of St. Louis.

    Cited by:

    1. David Andolfatto & Fernando Martin, 2013. "Information Disclosure and Exchange Media," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(3), pages 527-539, July.

  24. David Andolfatto, 2009. "On the Societal Benefits of Illiquid Bonds," Working Paper series 13_09, Rimini Centre for Economic Analysis.

    Cited by:

    1. Boel, Paola & Camera, Gabriele, 2009. "Financial sophistication and the distribution of the welfare cost of inflation," Journal of Monetary Economics, Elsevier, vol. 56(7), pages 968-978, October.
    2. Andolfatto, David, 2010. "Essential interest-bearing money," Journal of Economic Theory, Elsevier, vol. 145(4), pages 1495-1507, July.

  25. Andolfatto, David, 2008. "Essential Interest-Bearing Money (2008)," MPRA Paper 8565, University Library of Munich, Germany.

    Cited by:

    1. Gomis-Porqueras, Pedro & Peralta-Alva, Adrian, 2010. "Optimal monetary and fiscal policies in a search theoretic model of monetary exchange," European Economic Review, Elsevier, vol. 54(3), pages 331-344, April.
    2. Berentsen, Aleksander & Monnet, Cyril, 2008. "Monetary policy in a channel system," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1067-1080, September.

  26. Andolfatto, David, 2008. "Money, Intermediation, and Banking," MPRA Paper 7321, University Library of Munich, Germany.

    Cited by:

    1. Zhixiong Zeng & Yi Jin, 2023. "Managing Liquidity," Management Science, INFORMS, vol. 69(9), pages 5578-5595, September.
    2. Daniel R. Sanches, 2013. "Banking crises and the role of bank coalitions," Working Papers 13-28, Federal Reserve Bank of Philadelphia.
    3. Hasman, Augusto & Samartín, Margarita & van Bommel, Jos, 2014. "Financial intermediation in an overlapping generations model with transaction costs," Journal of Economic Dynamics and Control, Elsevier, vol. 45(C), pages 111-125.
    4. David Andolfatto, 2005. "On the Coexistence of Money and Bonds," 2005 Meeting Papers 9, Society for Economic Dynamics.
    5. Daniel R. Sanches, 2013. "On the welfare properties of fractional reserve banking," Working Papers 13-32, Federal Reserve Bank of Philadelphia.
    6. Cyril Monnet & Daniel R. Sanches, 2015. "Private money and banking regulation," Working Papers 15-19, Federal Reserve Bank of Philadelphia.
    7. Chao Gu & Fabrizio Mattesini & Randall Wright, 2013. "Banking: A New Monetarist Approach," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(2), pages 636-662.
    8. Daniel Sanches, 2016. "On the Inherent Instability of Private Money," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 198-214, April.
    9. Jaevin Park, 2020. "Inside Money, Business Cycle, and Bank Capital Requirements," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 103-121, April.

  27. David Andolfatto, 2008. "Essential Interest-Bearing Money," EIEF Working Papers Series 0802, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2008.

    Cited by:

    1. John Duffy & Daniela Puzzello, 2019. "The Friedman Rule in the Laboratory," 2019 Meeting Papers 541, Society for Economic Dynamics.
    2. Branch, William & McGough, Bruce, 2016. "Heterogeneous beliefs and trading inefficiencies," Journal of Economic Theory, Elsevier, vol. 163(C), pages 786-818.
    3. David Andolfatto & Fernando Martin, 2013. "Information Disclosure and Exchange Media," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(3), pages 527-539, July.
    4. Berentsen, Aleksander & Huber, Samuel & Marchesiani, Alessandro, 2016. "The societal benefit of a financial transaction tax," European Economic Review, Elsevier, vol. 89(C), pages 303-323.
    5. Guillaume Rocheteau & Pierre-Olivier Weill & Russell Wong, 2017. "A Tractable Model of Monetary Exchange with Ex-Post Heterogeneity," Working Paper 17-6, Federal Reserve Bank of Richmond.
    6. Vincent Bignon & R gis Breton & Mariana Rojas Breu, 2015. "Monetary Union with A Single Currency and Imperfect Credit Market Integration," Working papers 541, Banque de France.
    7. Hendrickson, Joshua R. & Park, Jaevin, 2021. "The case against eliminating large denomination bills," Journal of Macroeconomics, Elsevier, vol. 68(C).
    8. Vincent Bignon & Régis Breton & Mariana Rojas Breu, 2019. "Currency union with or without banking union," Post-Print hal-02313956, HAL.
    9. Chiu, Jonathan & Wong, Tsz-Nga, 2016. "On the essentiality of E-money," Working Paper Series 19474, Victoria University of Wellington, School of Economics and Finance.
    10. Zhixiong Zeng & Yi Jin, 2023. "Managing Liquidity," Management Science, INFORMS, vol. 69(9), pages 5578-5595, September.
    11. Amendola, Nicola & Araujo, Luis & Ferraris, Leo, 0. "Physical vs digital currency: a difference that makes a difference," Theoretical Economics, Econometric Society.
    12. Davoodalhosseini, Seyed Mohammadreza, 2022. "Central bank digital currency and monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 142(C).
    13. Williamson, Stephen D. & Wright, Randall, 2010. "New Monetarist Economics: Models," MPRA Paper 21030, University Library of Munich, Germany.
    14. Gomis-Porqueras, Pedro & Peralta-Alva, Adrian, 2010. "Optimal monetary and fiscal policies in a search theoretic model of monetary exchange," European Economic Review, Elsevier, vol. 54(3), pages 331-344, April.
    15. John Duffy & Daniela Puzzello, 2022. "The Friedman Rule: Experimental Evidence," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(2), pages 671-698, May.
    16. Aleksander Berentsen & Christopher Waller, 2009. "Outside versus inside bonds: A Modigliani-Miller type result for liquidity constrained economies," IEW - Working Papers 443, Institute for Empirical Research in Economics - University of Zurich.
    17. Rahman, Adib J., 2018. "Deflationary policy under digital and fiat currency competition," Research in Economics, Elsevier, vol. 72(2), pages 171-180.
    18. Krishna, R. Vijay & Leukhina, Oksana, 2019. "On the benefits of currency reform," Journal of Economic Dynamics and Control, Elsevier, vol. 102(C), pages 81-95.
    19. Nicola Amendola & Luis Araujo & Leo Ferraris, 2024. "Physical vs Digital Currency: What's the Difference, Why it Matters," Working Papers 537, University of Milano-Bicocca, Department of Economics.
    20. Guillaume Rocheteau, 2011. "The cost of inflation: a mechanism design approach," Working Papers (Old Series) 1103, Federal Reserve Bank of Cleveland.
    21. Nicola Amendola & Leo Ferraris & Fabrizio Mattesini, 2016. "Optimal Monetary Policy in a Pure Currency Economy with Heterogenous Agents," CEIS Research Paper 394, Tor Vergata University, CEIS, revised 02 Feb 2017.
    22. Lippi, Francesco & Ragni, Stefania & Trachter, Nicholas, 2015. "Optimal monetary policy with heterogeneous money holdings," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 339-368.
    23. Alessandro Marchesiani & Aleksander Berentsen, 2010. "Standing Facilities Versus Open Market Operations: Equivalence Results," 2010 Meeting Papers 929, Society for Economic Dynamics.
    24. Joshua R. Hendrickson, 2015. "Monetary equilibrium," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(1), pages 53-73, March.
    25. Gomis-Porqueras, Pedro & Sun, Ching-jen, 2019. "Fiat Money as a Public Signal, Medium of Exchange, and Punishment," MPRA Paper 94327, University Library of Munich, Germany.
    26. Rocheteau, Guillaume & Wright, Randall & Xiaolin Xiao, Sylvia, 2018. "Open market operations," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 114-128.
    27. Aleksander Berentsen & Alessandro Marchesiani & Christopher Waller, 2014. "Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(3), pages 523-542, July.
    28. Aleksander Berentsen & Alessandro Marchesiani & Christopher Waller, 2010. "Channel Systems: Why is there a Positive Spread?," CESifo Working Paper Series 3251, CESifo.
    29. Moscarini, Giuseppe & Wright, Randall, 2010. "Introduction to Search Theory and Applications," Journal of Economic Theory, Elsevier, vol. 145(4), pages 1319-1324, July.
    30. Araujo, Luis & Hu, Tai-Wei, 2018. "Optimal monetary interventions in credit markets," Journal of Economic Theory, Elsevier, vol. 178(C), pages 455-487.
    31. Aleksandar Arsov, 2017. "Bitcoin as an Innovative Payment Currency in Germany: Development of the e-Gold Standard," Journal of International Business Research and Marketing, Inovatus Services Ltd., vol. 2(2), pages 33-42, January.
    32. Vincent Bignon & Régis Breton & Mariana Rojas Breu, 2018. "Currency Union with and without Banking Union," Working Papers hal-01685893, HAL.
    33. Berentsen, Aleksander & Monnet, Cyril, 2008. "Monetary policy in a channel system," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1067-1080, September.
    34. Adib Rahman & Liang Wang, 2025. "Central Bank Digital Currency, Tax Evasion, and Monetary Policy with Heterogeneous Agents," Working Papers 202505, University of Hawaii at Manoa, Department of Economics.
    35. Nosal, Ed & Rocheteau, Guillaume, 2013. "Pairwise trade, asset prices, and monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 37(1), pages 1-17.
    36. Andolfatto, David & Berentsen, Aleksander & Waller, Christopher, 2016. "Monetary policy with asset-backed money," Journal of Economic Theory, Elsevier, vol. 164(C), pages 166-186.
    37. Alejandro SALAZAR-ADAMS & Nicolás PINEDA-PABLOS, 2010. "Policies for Meeting Future Water Needs in Mexican Cities," EcoMod2010 259600147, EcoMod.
    38. Huber, Samuel & Kim, Jaehong, 2017. "On the optimal quantity of liquid bonds," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 184-200.
    39. Daniel R. Sanches, 2012. "The optimum quantity of money," Business Review, Federal Reserve Bank of Philadelphia, issue Q4, pages 8-15.
    40. Bajaj, Ayushi & Hu, Tai-Wei & Rocheteau, Guillaume & Silva, Mario Rafael, 2017. "Decentralizing constrained-efficient allocations in the Lagos–Wright pure currency economy," Journal of Economic Theory, Elsevier, vol. 167(C), pages 1-13.
    41. Hu, Tai-Wei, 2021. "Optimal monetary policy with interest on reserves and capital over-accumulation," Journal of Economic Theory, Elsevier, vol. 196(C).
    42. Pedro Gomis-Porqueras & Daniel R. Sanches, 2011. "Optimal monetary policy in a model of money and credit," Working Papers 11-28, Federal Reserve Bank of Philadelphia.
    43. Guillaume Rocheteau, 2011. "On the coexistence of money and higher-return assets and its social role," Working Papers (Old Series) 1104, Federal Reserve Bank of Cleveland.
    44. Ohik Kwon & Seungduck Lee & Jaevin Park, 2022. "Central bank digital currency, tax evasion, and inflation tax," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1497-1519, October.
    45. Andolfatto, David, 2013. "Incentive-feasible deflation," Journal of Monetary Economics, Elsevier, vol. 60(4), pages 383-390.
    46. David Andolfatto & Fernando M. Martin, 2023. "Welfare-enhancing inflation and liquidity premia," Working Papers 2023-001, Federal Reserve Bank of St. Louis, revised Sep 2023.

  28. Andolfatto, David, 2008. "Macroeconomic Theory and Policy (2nd Edition)," MPRA Paper 6403, University Library of Munich, Germany.

    Cited by:

    1. Lisi, Gaetano, 2011. "Matching Models of Equilibrium Unemployment: An Overview," MPRA Paper 30191, University Library of Munich, Germany.
    2. Lisi, Gaetano, 2013. "The Benchmark Macroeconomic Models of the Labour Market," MPRA Paper 62318, University Library of Munich, Germany.
    3. Lukáš Mohelský, 2011. "Impact of the Car Scrapping Scheme on Consumer Behaviour and Aggregate Consumption," Prague Economic Papers, Prague University of Economics and Business, vol. 2011(3), pages 268-287.

  29. David Andolfatto & Steeve Mongrain & Gordon Myers, 2007. "Rational Truth-Avoidance and Self-Esteem," Discussion Papers dp07-08, Department of Economics, Simon Fraser University.

    Cited by:

    1. Rocco Zizzamia, 2025. "Ignorance is bliss? Rejection and discouragement in on-the-job search," CSAE Working Paper Series 2025-06, Centre for the Study of African Economies, University of Oxford.
    2. Mariana Blanco & Juan Fernando Vargas & Patricio S. Dalton, 2013. "Does the unemployment benefit institution affect the productivity of workers? Evidence from a field experiment," Documentos de Trabajo 11015, Universidad del Rosario.
    3. Jean-Louis Rullière & Luis Santos Pinto & Isabelle Vialle, 2011. "Self-Confidence and Teamwork : An Experimental Test," Post-Print halshs-00632091, HAL.
    4. Akiko Maruyama, 2013. "Learning about one's own type: a search model with two-sided uncertainty," GRIPS Discussion Papers 12-24, National Graduate Institute for Policy Studies.
    5. Valeria Maggian & Antonio Nicoló, 2017. "The wrong man for the job: biased beliefs and job mismatching," Working Papers halshs-01455452, HAL.

  30. David Andolfatto, 2007. "Search Models of Unemployment," Discussion Papers dp07-01, Department of Economics, Simon Fraser University.

    Cited by:

    1. Wang, Cheng & Williamson, Steve, 1996. "Unemployment Insurance with Moral Hazard in a Dynamic Economy," Staff General Research Papers Archive 5088, Iowa State University, Department of Economics.

  31. David Andolfatto & Scott Hendry & Kevin Moran, 2007. "Are Inflation Expectations Rational?," Working Paper series 27_07, Rimini Centre for Economic Analysis.

    Cited by:

    1. Pérez, Rafaela & Ruiz, Jesús & Lafuente Luengo, Juan Ángel, 2011. "Estimating US persistent and transitory monetary shocks: implications for monetary policy," DEE - Working Papers. Business Economics. WB wb113108, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    2. J. Scott Davis, 2012. "The effect of commodity price shocks on underlying inflation: the role of central bank credibility," Globalization Institute Working Papers 134, Federal Reserve Bank of Dallas.
    3. Ricardo Nunes, 2009. "On the Epidemiological Microfoundations of Sticky Information," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 71(5), pages 643-657, October.
    4. Camille Cornand & Paul Hubert, 2020. "On the external validity of experimental inflation forecasts," Sciences Po Economics Publications (main) hal-02894262, HAL.
    5. Sylvain Leduc & Kevin Moran & Robert J. Vigfusson, 2016. "Learning in the Oil Futures Markets: Evidence and Macroeconomic Implications," International Finance Discussion Papers 1179, Board of Governors of the Federal Reserve System (U.S.).
    6. Sophocles N. Brissimis & Petros M. Migiakis, 2016. "Inflation persistence, learning dynamics and the rationality of inflation expectations," Empirical Economics, Springer, vol. 51(3), pages 963-979, November.
    7. Snezana Eminidou & Marios Zachariadis & Elena Andreou, 2017. "Inflation Expectations and Monetary Policy Surprises," 2017 Meeting Papers 919, Society for Economic Dynamics.
    8. Del Negro, Marco & Eusepi, Stefano, 2011. "Fitting observed inflation expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 35(12), pages 2105-2131.
    9. Elton Beqiraj & Giovanni Di Bartolomeo & Marco Di Pietro & Carolina Serpieri, 2020. "Bounded rationality and heterogeneous expectations: Euler versus anticipated-utility approach," Journal of Economics, Springer, vol. 130(3), pages 249-273, August.
    10. Paul Hubert & Harun Mirza, 2019. "The role of forward- and backward-looking information for inflation expectations formation," Post-Print hal-03403616, HAL.
    11. Camille Cornand & Paul Hubert, 2019. "On the external validity of experimental inflation forecasts: A comparison with five categories of field expectations," Working Papers hal-03403259, HAL.
    12. Melecky, Martin & Rodrıguez Palenzuela, Diego & Soderstrom, Ulf, 2008. "Inflation Target Transparency and the Macroeconomy," MPRA Paper 10545, University Library of Munich, Germany.
    13. Castelnuovo, Efrem, 2010. "Tracking U.S. inflation expectations with domestic and global indicators," Journal of International Money and Finance, Elsevier, vol. 29(7), pages 1340-1356, November.
    14. Dovern, Jonas & Weisser, Johannes, 2011. "Accuracy, unbiasedness and efficiency of professional macroeconomic forecasts: An empirical comparison for the G7," International Journal of Forecasting, Elsevier, vol. 27(2), pages 452-465, April.
    15. Christopher J. Neely & David E. Rapach, 2008. "Real interest rate persistence: evidence and implications," Review, Federal Reserve Bank of St. Louis, vol. 90(Nov), pages 609-642.
    16. Martin Cerisola & Gaston Gelos, 2009. "What drives inflation expectations in Brazil? An empirical analysis," Applied Economics, Taylor & Francis Journals, vol. 41(10), pages 1215-1227.
    17. Sonali Das & Rangan Gupta & Patrick T. Kanda & Monique Reid & Christian K. Tipoy & Mulatu F. Zerihun, 2012. "Real Interest Rate Persistence in South Africa: Evidence and Implications," Working Papers 17/2012, Stellenbosch University, Department of Economics.
    18. Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco, 2019. "Beliefs formation and the puzzle of forward guidance power," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 20-32.
    19. Rychalovska, Yuliya & Slobodyan, Sergey & Wouters, Rafael, 2026. "Professional survey forecasts and expectations in DSGE models," Journal of Monetary Economics, Elsevier, vol. 158(C).
    20. Hatcher, Michael C. & Minford, Patrick, 2013. "Stabilization policy, rational expectations and price-level versus inflation targeting: a survey," Cardiff Economics Working Papers E2013/14, Cardiff University, Cardiff Business School, Economics Section.
    21. Hernando Vargas-Herrera, 2016. "Inflation Expectations and a Model-Based Core Inflation Measure in Colombia," Borradores de Economia 928, Banco de la Republica de Colombia.
    22. Santos, Francisco Luna & Garcia, Márcio Gomes Pinto & Medeiros, Marcelo Cunha, 2016. "The High Frequency Impact of Macroeconomic Announcements in the Brazilian Futures Markets," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 36(2), November.
    23. Camille Cornand & Cheick Kader M'Baye, 2016. "Band or Point Inflation Targeting? An Experimental Approach," Working Papers halshs-01313095, HAL.
    24. Juan Ángel Lafuente & Nuria Petit & Jesús Ruiz & Pedro Serrano, 2020. "Dissecting interbank risk using basis swap spreads," The World Economy, Wiley Blackwell, vol. 43(3), pages 729-757, March.
    25. Jørgensen, Peter Lihn & Lansing, Kevin J., 2025. "Anchored inflation expectations and the slope of the Phillips curve," European Economic Review, Elsevier, vol. 178(C).
    26. Ponomarenko, Alexey, 2020. "A note on observational equivalence of micro assumptions on macro level," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 14, pages 1-15.
    27. Farmer, Leland E & Nakamura, Emi & Steinsson, Jón, 2024. "Learning about the Long Run," Department of Economics, Working Paper Series qt0tn1s1hp, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    28. Elton Beqiraj & Giovanni Di Bartolomeo & Carolina Serpieri, 2017. "Bounded-rationality and heterogeneous agents: Long or short forecasters?," CIMEO Working Paper Series 132, Centre for Investigation and Modelling of Experimental Observations (CIMEO).
    29. Kim, Insu & Kim, Young Se, 2019. "Inattentive agents and inflation forecast error dynamics: A Bayesian DSGE approach," Journal of Macroeconomics, Elsevier, vol. 62(C).
    30. Henzel, Steffen R., 2013. "Fitting survey expectations and uncertainty about trend inflation," Journal of Macroeconomics, Elsevier, vol. 35(C), pages 172-185.
    31. Schlafmann, Kathrin & rozsypal, filip, 2017. "Overpersistence Bias in Individual Income Expectations and its Aggregate Implications," CEPR Discussion Papers 12028, Centre for Economic Policy Research.
    32. Moran, Kevin & Nono, Simplice Aimé, 2018. "Gradual learning about shocks and the forward premium puzzle," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 79-100.
    33. Petit, Nuria & Serrano, Pedro & Lafuente Luengo, Juan Ángel, 2017. "Dissecting interbank risk," DEE - Working Papers. Business Economics. WB 24553, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    34. Pérez, Rafaela & Ruiz, Jesús & Lafuente Luengo, Juan Ángel, 2012. "Monetary policy regimes and the forward bias for foreign exchange," DEE - Working Papers. Business Economics. WB 12960, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    35. Olivier Coibion & Yuriy Gorodnichenko, 2010. "Information Rigidity and the Expectations Formation Process: A Simple Framework and New Facts," Working Papers 102, Economics Department, William & Mary.
    36. Anna Loleyt & Ilya Gurov, 2011. "The process of formation of inflation expectations in an information economy," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Initiatives to address data gaps revealed by the financial crisis", Basel, 25-26 August 2010, volume 34, pages 104-127, Bank for International Settlements.
    37. Chen, Ping-ho & Chu, Angus C. & Chu, Hsun & Lai, Ching-Chong, 2019. "Optimal Capital Taxation in an Economy with Innovation-Driven Growth," MPRA Paper 92319, University Library of Munich, Germany.
    38. El-Shagi, Makram, 2011. "Inflation expectations: Does the market beat econometric forecasts?," The North American Journal of Economics and Finance, Elsevier, vol. 22(3), pages 298-319.
    39. Lafuente, Juan A. & Pérez, Rafaela & Ruiz, Jesús, 2014. "Time-varying inflation targeting after the nineties," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 400-408.
    40. Moore, Bartholomew, 2014. "Monetary policy regimes and inflation in the new-Keynesian model," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 323-337.
    41. El-Shagi, Makram, 2009. "Inflation Expectations: Does the Market Beat Professional Forecasts?," IWH Discussion Papers 16/2009, Halle Institute for Economic Research (IWH).
    42. Francesca Pancotto & Giuseppe Pignataro & Davide Raggi, 2015. "Social Learning and Higher Order Beliefs: A Structural Model of Exchange Rates Dynamics," LEM Papers Series 2015/24, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    43. Almut Balleer & Georg Duernecker & Susanne K. Forstner & Johannes Goensch, 2021. "The Effects of Biased Labor Market Expectations on Consumption, Wealth Inequality, and Welfare," CESifo Working Paper Series 9326, CESifo.
    44. J. Scott Davis, 2012. "Central bank credibility and the persistence of inflation and inflation expectations," Globalization Institute Working Papers 117, Federal Reserve Bank of Dallas.
    45. Pedro Pires Ribeiro & José Dias Curto, 2018. "How do zero-coupon inflation swaps predict inflation rates in the euro area? Evidence of efficiency and accuracy on 1-year contracts," Empirical Economics, Springer, vol. 54(4), pages 1451-1475, June.
    46. Kenneth Eva & Fabian Winkler, 2023. "A Comprehensive Empirical Evaluation of Biases in Expectation Formation," Finance and Economics Discussion Series 2023-042, Board of Governors of the Federal Reserve System (U.S.).
    47. Steffen Henzel, 2008. "Learning Trend Inflation – Can Signal Extraction Explain Survey Forecasts?," ifo Working Paper Series 55, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    48. Deversi, Marvin, 2014. "Do Macroeconomic Shocks Affect Intuitive Inflation Forecasting? An Experimental Investigation," Ruhr Economic Papers 528, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    49. Andreou, Elena & Eminidou, Snezana & Zachariadis, Marios, 2016. "Inflation expectations and monetary policy in Europe," CEPR Discussion Papers 11306, Centre for Economic Policy Research.
    50. Marios Polemidiotis & Maria C. Papageorghiou & Maria G. Mithillou, 2018. "Measuring the Competitiveness of the Cyprus Economy: the Case of Unit Labour Costs," Working Papers 2018-2, Central Bank of Cyprus.
    51. Lance Kent, 2015. "Relaxing Rational Expectations," Working Papers 159, Economics Department, William & Mary.
    52. Nektarios Michail & George Thucydides, 2018. "Does Housing Wealth Affect Consumption? The Case of Cyprus," Working Papers 2018-3, Central Bank of Cyprus.
    53. Dovern, Jonas & Weisser, Johannes, 2008. "Are they really rational? Assessing professional macro-economic forecasts from the G7-countries," Kiel Working Papers 1447, Kiel Institute for the World Economy.
    54. Kim, Insu & Kim, Minsoo, 2009. "Irrational Bias in Inflation Forecasts," MPRA Paper 16447, University Library of Munich, Germany.

  32. Andolfatto, David, 2007. "Bank Incentives, Contract Design, and Bank Runs," MPRA Paper 8146, University Library of Munich, Germany.

    Cited by:

    1. Huang, Xuesong, 2024. "Sophisticated banking contracts and fragility when withdrawal information is public," Theoretical Economics, Econometric Society, vol. 19(1), January.
    2. Huberto M. Ennis & Todd Keister, 2015. "Optimal Banking Contracts and Financial Fragility," Working Paper 15-6, Federal Reserve Bank of Richmond.
    3. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    4. Bruno Sultanum, 2021. "The Cost of Information in the Blockchain: A Discussion of Routledge and Zetlin-Jones," Working Paper 21-02, Federal Reserve Bank of Richmond.
    5. Sim, Khai Zhi, 2024. "Bank bailouts: Moral hazard and commitment," Journal of Mathematical Economics, Elsevier, vol. 111(C).
    6. Ennis, Huberto M. & Keister, Todd, 2009. "Run equilibria in the Green-Lin model of financial intermediation," Journal of Economic Theory, Elsevier, vol. 144(5), pages 1996-2020, September.
    7. Daniel R. Sanches, 2014. "Banking panics and protracted recessions," Working Papers 14-37, Federal Reserve Bank of Philadelphia.
    8. Zhiguo He & Asaf Manela, 2016. "Information Acquisition in Rumor‐Based Bank Runs," Journal of Finance, American Finance Association, vol. 71(3), pages 1113-1158, June.
    9. Huberto M. Ennis & Todd Keister, 2008. "Run equilibria in a model of financial intermediation," Staff Reports 312, Federal Reserve Bank of New York.
    10. Jasmina Arifovic & Janet Hua Jiang, 2014. "Do Sunspots Matter? Evidence from an Experimental Study of Bank Runs," Staff Working Papers 14-12, Bank of Canada.
    11. Arifovic, Jasmina & Hua Jiang, Janet & Xu, Yiping, 2013. "Experimental evidence of bank runs as pure coordination failures," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2446-2465.
    12. Hajime Tomura, 2010. "Liquidity Transformation and Bank Capital Requirements," Staff Working Papers 10-22, Bank of Canada.
    13. Jiahong Gao & Robert R. Reed, 2023. "Preventing bank panics: The role of the regulator's preferences," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(2), pages 387-422, May.
    14. Huberto M. Ennis & Todd Keister, 2010. "On the fundamental reasons for bank fragility," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(1Q), pages 33-58.
    15. Parnes, Dror, 2021. "Modeling the contagion of bank runs with a Markov model," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 174-187.
    16. Kocherlakota, Narayana & Wright, Randall, 2008. "Introduction to monetary and macro economics," Journal of Economic Theory, Elsevier, vol. 142(1), pages 1-4, September.
    17. J. D. P. Bertolai & R. de O. Cavalcanti & P. K. Monteiro, 2019. "Bank runs with many small banks and mutual guarantees at the terminal stage," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(1), pages 125-176, July.
    18. Gao, Jiahong & Reed, Robert R., 2021. "Sunspot bank runs and fragility: The role of financial sector competition," European Economic Review, Elsevier, vol. 139(C).

  33. Andolfatto, David, 2007. "Incentives and the Limits to Deflationary Policy," MPRA Paper 4681, University Library of Munich, Germany.

    Cited by:

    1. Williamson, Stephen & Sanches, Daniel, 2009. "Money and Credit With Limited Commitment and Theft," MPRA Paper 20690, University Library of Munich, Germany.
    2. Li, Yiting & Wang, Chien-Chiang, 2019. "Cryptocurrency, Imperfect Information, and Fraud," MPRA Paper 94309, University Library of Munich, Germany.
    3. Aleksander Berentsen & Cyril Monnet, 2008. "Monetary policy in a channel system," Working Papers 08-7, Federal Reserve Bank of Philadelphia.
    4. Gaetano Antinolfi & Costas Azariadis & James B. Bullard, 2012. "The optimal inflation target in an economy with limited enforcement," Working Papers 2012-044, Federal Reserve Bank of St. Louis.
    5. Guillaume Rocheteau, 2008. "Money and competing assets under private information," Working Papers (Old Series) 0802, Federal Reserve Bank of Cleveland.
    6. Alessandro Marchesiani & Aleksander Berentsen, 2010. "Standing Facilities Versus Open Market Operations: Equivalence Results," 2010 Meeting Papers 929, Society for Economic Dynamics.
    7. Guillaume Rocheteau, 2009. "A monetary approach to asset liquidity," Working Papers (Old Series) 0901, Federal Reserve Bank of Cleveland.
    8. Andolfatto, David, 2007. "Essential Interest-Bearing Money," MPRA Paper 4780, University Library of Munich, Germany.
    9. Stephen Williamson & Daniel Sanches, 2008. "Money and Credit with Limited Commitment," 2008 Meeting Papers 502, Society for Economic Dynamics.

  34. David Andolfatto & Ed Nosal & Neil Wallace, 2006. "The role of independence in the Green-Lin Diamond-Dybvig model," Working Papers (Old Series) 0615, Federal Reserve Bank of Cleveland.

    Cited by:

    1. Markus Kinateder & Hubert Janos Kiss, 2013. "Sequential decisions in the Diamond-Dybvig banking model," KRTK-KTI WORKING PAPERS 1345, Institute of Economics, Centre for Economic and Regional Studies.
    2. Kiss, Hubert Janos & Rodriguez-Lara, Ismael & Rosa-García, Alfonso, 2014. "Do social networks prevent or promote bank runs?," Journal of Economic Behavior & Organization, Elsevier, vol. 101(C), pages 87-99.
    3. Azrieli, Yaron & Peck, James, 2012. "A bank runs model with a continuum of types," Journal of Economic Theory, Elsevier, vol. 147(5), pages 2040-2055.
    4. Todd Keister & Vijay Narasiman, 2016. "Expectations vs. Fundamentals- driven Bank Runs: When Should Bailouts be Permitted?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 89-104, July.
    5. Todd Keister & Huberto M. Ennis, 2008. "Run Equilibria in a Model of Financial Intermediation," 2008 Meeting Papers 513, Society for Economic Dynamics.
    6. R. de O. Cavalcanti & P. K. Monteiro, 2016. "Enriching information to prevent bank runs," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(3), pages 477-494, August.
    7. Huberto M. Ennis & Todd Keister, 2015. "Optimal Banking Contracts and Financial Fragility," Working Paper 15-6, Federal Reserve Bank of Richmond.
    8. Randall Wright & Cyril Monnet & Fabrizio Mattesini, 2009. "Banking: a mechanism design approach," 2009 Meeting Papers 635, Society for Economic Dynamics.
    9. Lazopoulos, Ioannis, 2013. "Liquidity uncertainty and intermediation," Journal of Banking & Finance, Elsevier, vol. 37(2), pages 403-414.
    10. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    11. Ennis, Huberto M. & Keister, Todd, 2009. "Run equilibria in the Green-Lin model of financial intermediation," Journal of Economic Theory, Elsevier, vol. 144(5), pages 1996-2020, September.
    12. David Andolfatto & Ed Nosal & Bruno Sultanum, 2014. "Preventing bank runs," Working Papers 2014-21, Federal Reserve Bank of St. Louis.
    13. Thomas L. Hogan & William J. Luther, 2014. "The Explicit Costs of Government Deposit Insurance," Cato Journal, Cato Journal, Cato Institute, vol. 34(1), pages 145-170, Winter.
    14. Bruno Sultanum, 2017. "Financial Fragility and Over-the-counter Markets," 2017 Meeting Papers 1122, Society for Economic Dynamics.
    15. Simas Kucinskas, 2015. "Liquidity Creation without Banks," Tinbergen Institute Discussion Papers 15-101/VI, Tinbergen Institute.
    16. Hitoshi Matsushima, 2018. "Bank Runs and Minimum Reciprocity," CARF F-Series CARF-F-447, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    17. Yuliyan Mitkov, 2016. "Inequality and Financial Fragility," Departmental Working Papers 201602, Rutgers University, Department of Economics.
    18. Ricardo de O. Cavalcanti, 2010. "Inside-money theory after Diamond and Dybvig," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(1Q), pages 59-82.
    19. Hubert Janos Kiss & Ismael Rodriguez-Lara & Alfonso Rosa-Garcia, 2012. "Do Social Networks Prevent Bank Runs?," Discussion Papers in Economic Behaviour 0812, University of Valencia, ERI-CES.
    20. Jasmina Arifovic & Janet Hua Jiang, 2014. "Do Sunspots Matter? Evidence from an Experimental Study of Bank Runs," Staff Working Papers 14-12, Bank of Canada.
    21. Markus Kinateder & Hubert János Kiss & Ágnes Pintér, 2020. "Would depositors pay to show that they do not withdraw? Theory and experiment," Experimental Economics, Springer;Economic Science Association, vol. 23(3), pages 873-894, September.
    22. Hitoshi Matsushima, 2018. "Bank Runs and Minimum Reciprocity," CIRJE F-Series CIRJE-F-1099, CIRJE, Faculty of Economics, University of Tokyo.
    23. David Andolfatto & Ed Nosal, 2006. "Moral hazard in the Diamond-Dybvig model of banking," Working Papers (Old Series) 0623, Federal Reserve Bank of Cleveland.
    24. Cavalcanti, Ricardo de Oliveira & Bertolai, Jefferson Donizeti Pereira & Monteiro, P. K., 2011. "A note on convergence of Peck-Shell and Green-Lin mechanisms in the Diamond-Dybvig model," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 722, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    25. Todd Keister, 2014. "Bailouts and Financial Fragility," Departmental Working Papers 201401, Rutgers University, Department of Economics.
    26. J. D. P. Bertolai & R. de O. Cavalcanti, 2011. "High interest rates: the golden rule for bank stability in the Diamond-Dybvig model," Working Papers 14-2011, Universidade de São Paulo, Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto.
    27. Gu, Chao & Monnet, Cyril & Nosal, Ed & Wright, Randall, 2023. "Diamond–Dybvig and beyond: On the instability of banking," European Economic Review, Elsevier, vol. 154(C).
    28. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2012. "Bagehot for Beginners : The Making of Lender of Last Resort Operations in the Mid-Nineteenth Century," Post-Print halshs-00844045, HAL.
    29. Huberto M. Ennis & Todd Keister, 2010. "On the fundamental reasons for bank fragility," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(1Q), pages 33-58.
    30. Hubert J. Kiss & Ismael Rodriguez-Lara & Alfonso Rosa-Garcia, 2020. "Who withdraws first? Line formation during bank runs," ThE Papers 20/02, Department of Economic Theory and Economic History of the University of Granada..
    31. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    32. Jarrow, Robert & Xu, Liheng, 2015. "Bank runs and self-insured bank deposits," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 180-189.
    33. Kučinskas, Simas, 2019. "Aggregate risk and efficiency of mutual funds," Journal of Banking & Finance, Elsevier, vol. 101(C), pages 1-11.
    34. Ngalawa, Harold & Tchana Tchana, Fulbert & Viegi, Nicola, 2011. "Banking Instability and Deposit Insurance: The Role of Moral Hazard," MPRA Paper 31329, University Library of Munich, Germany.
    35. Mitkov, Yuliyan, 2020. "Inequality and financial fragility," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 233-248.
    36. Jefferson Bertolai & Ricardo Cavalcanti & Paulo Monteiro, 2014. "Run theorems for low returns and large banks," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 57(2), pages 223-252, October.
    37. Bertolai, Jefferson Donizeti Pereira & de Melo, Matheus Anthony, 2017. "Fragilidade bancária com (e sem) serviço sequencial," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 71(3), September.
    38. Zhiguo He & Asaf Manela, 2012. "Information Acquisition in Rumor Based Bank Runs," NBER Working Papers 18513, National Bureau of Economic Research, Inc.
    39. Hubert Janos Kiss & Ismael Rodriguez-Lara & Alfonso Rosa-Garcia, 2018. "Who runs first to the bank?," KRTK-KTI WORKING PAPERS 1826, Institute of Economics, Centre for Economic and Regional Studies.
    40. Markus Kinateder & Hubert Janos Kiss & Agnes Pinter, 2015. "Would depositors like to show others that they do not withdraw? Theory and Experiment," KRTK-KTI WORKING PAPERS 1553, Institute of Economics, Centre for Economic and Regional Studies.
    41. J. D. P. Bertolai & R. de O. Cavalcanti & P. K. Monteiro, 2019. "Bank runs with many small banks and mutual guarantees at the terminal stage," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(1), pages 125-176, July.
    42. Gao, Jiahong & Reed, Robert R., 2021. "Sunspot bank runs and fragility: The role of financial sector competition," European Economic Review, Elsevier, vol. 139(C).

  35. David Andolfatto, 2005. "On the Coexistence of Money and Bonds," 2005 Meeting Papers 9, Society for Economic Dynamics.

    Cited by:

    1. Ferraris, Leo & Mattesini, Fabrizio, 2014. "Limited commitment and the legal restrictions theory of the demand for money," Journal of Economic Theory, Elsevier, vol. 151(C), pages 196-215.
    2. Ricardo Lagos, 2010. "Moneyspots," 2010 Meeting Papers 498, Society for Economic Dynamics.

  36. David Andolfatto, 2005. "Macroeconomic Theory and Policy," Macroeconomics 0510005, University Library of Munich, Germany.

    Cited by:

    1. Martin Bodenstein & Junzhu Zhao, 2017. "Employment, Wages and Optimal Monetary Policy," Finance and Economics Discussion Series 2017-091, Board of Governors of the Federal Reserve System (U.S.).
    2. Mehmet BÖLÜKBAÞ, 2016. "The Effects of Economic Policies in Turkey: An Application for the Period After 2000," Journal of Social and Administrative Sciences, KSP Journals, vol. 3(4), pages 315-322, December.
    3. Lisi, Gaetano, 2010. "Introduzione allo studio dei modelli di "matching" del mercato del lavoro [Introduction to the study of matching models of unemployment]," MPRA Paper 22735, University Library of Munich, Germany.

  37. David Andolfatto & Glenn MacDonald, 2004. "Jobless Recoveries," Macroeconomics 0412014, University Library of Munich, Germany.

    Cited by:

    1. Cristiano Cantore & Paul Levine & Giovanni Melina, 2011. "A Fiscal Stimulus and Jobless Recovery," School of Economics Discussion Papers 1111, School of Economics, University of Surrey.
    2. André Kurmann & Nicolas Petrosky-Nadeau, 2007. "Search Frictions in Physical Capital Markets as a Propagation Mechanism," Cahiers de recherche 0712, CIRPEE.
    3. Marianna Riggi, 2012. "Capital destruction, jobless recoveries, and the discipline device role of unemployment," Temi di discussione (Economic working papers) 871, Bank of Italy, Economic Research and International Relations Area.
    4. Kathryn Koenders & Richard Rogerson, 2005. "Organizational dynamics over the business cycle: a view on jobless recoveries," Review, Federal Reserve Bank of St. Louis, vol. 87(Jul), pages 555-580.
    5. Kevin x.d. Huang & Jie Chen & Zhe Li & Jianfei Sun, 2014. "Financial Conditions and Slow Recoveries," Vanderbilt University Department of Economics Working Papers 14-00004, Vanderbilt University Department of Economics.
    6. Grace Weishi Gu, 2018. "Employment and the Cyclical Cost of Worker Benefits," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 28, pages 96-120, April.

  38. Glenn MacDonald & David Andolfatto, 2004. "Modeling a Jobless Recovery," 2004 Meeting Papers 298, Society for Economic Dynamics.

    Cited by:

    1. Giovanni Gallipoli & Gianluigi Pelloni, 2008. "Aggregate Shocks vs Reallocation Shocks: an Appraisal of the Applied Literature," Working Paper series 27_08, Rimini Centre for Economic Analysis.

  39. David Andolfatto & Martin Gervais, 2004. "Human Capital Investment and Debt Constraints," Labor and Demography 0412006, University Library of Munich, Germany.

    Cited by:

    1. Kubin, Ingrid & Zörner, Thomas, 2017. "Human Capital in a Credit Cycle Model," Department of Economics Working Paper Series 251, WU Vienna University of Economics and Business.
    2. Moritz Kuhn & Mark Wright & Tom Krebs, 2012. "Human Capital Risk, Contract Enforcement, and the Macroeconomy," 2012 Meeting Papers 159, Society for Economic Dynamics.
    3. Kubin, Ingrid & Zörner, Thomas O., 2021. "Credit cycles, human capital and the distribution of income," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 954-975.
    4. Boldrin, Michele & Montes, Ana, 2015. "Modeling an immigration shock," European Economic Review, Elsevier, vol. 74(C), pages 190-206.
    5. Papagni, Erasmo, 2008. "The Long-run Effects of Household Liquidity Constraints and Taxation on Fertility, Education, Saving and Growth," MPRA Paper 12793, University Library of Munich, Germany.
    6. Lance J. Lochner & Alexander Monge-Naranjo, 2008. "The Nature of Credit Constraints and Human Capital," NBER Working Papers 13912, National Bureau of Economic Research, Inc.
    7. Costas Azariadis & Leo Kaas, 2012. "Endogenous credit limits with small default costs," Working Papers 2012-048, Federal Reserve Bank of St. Louis.
    8. Lance Lochner & Alexander Monge-Naranjo, 2011. "Credit Constraints in Education," NBER Working Papers 17435, National Bureau of Economic Research, Inc.
    9. Samuel Osei-Gyebi & Patricia Ajayi, 2025. "Effect of renewable energy consumption and public debt on human capital in Nigeria," SN Business & Economics, Springer, vol. 5(3), pages 1-27, March.
    10. Maria Sarigiannidou & Theodore Palivos, 2012. "A Modern Theory of Kuznets’ Hypothesis," Working Papers 201202, Texas Christian University, Department of Economics.
    11. Kuhn, Moritz & Krebs, Tom & Wright, Mark L.J., 2016. "Under-Insurance in Human Capital Models with Limited Enforcement," CEPR Discussion Papers 11612, Centre for Economic Policy Research.
    12. Del Rey, Elena & Lopez-Garcia, Miguel-Angel, 2020. "On government-created credit markets for education and endogenous growth," Economic Modelling, Elsevier, vol. 92(C), pages 170-179.
    13. Torben M. Andersen & Joydeep Bhattacharya, 2013. "The Intergenerational Welfare State," CESifo Working Paper Series 4359, CESifo.
    14. Tom Krebs & Moritz Kuhn & Mark L. J. Wright, 2016. "Insurance in Human Capital Models with Limited Enforcement," Working Paper Series WP-2016-8, Federal Reserve Bank of Chicago.
    15. Manso, Gustavo & Rivera, Alejandro & Wang, Hui (Grace) & Xia, Han, 2025. "Household debt overhang and human capital investment," Journal of Financial Economics, Elsevier, vol. 172(C).
    16. Emily G. Moschini & Gajendran Raveendranathan, 2024. "College Financial Aid Application Frictions," Department of Economics Working Papers 2024-10, McMaster University.
    17. Kellermann, Kersten & Schlag, Carsten-Henning, 2006. "Bildung als öffentliche Aufgabe in Liechtenstein: Eine ökonomische Analyse des Bildungswesens unter besonderer Berücksichtigung der Hochschule. Studie im Auftrag der Regierung des Fürstentums Liechtenstein und der Hochschule Liechtenstein," KOFL Studien, Konjunkturforschungsstelle Liechtenstein (KOFL), Vaduz, volume 3, number 3.
    18. Joydeep Bhattacharya & Monisankar Bishnu & Min Wang, 2023. "Credit Markets with time-inconsistent agents and strategic loan default," Discussion Papers 23-01, Indian Statistical Institute, Delhi.
    19. Wang, Min, 2010. "Essays on Environment, Natural Resource, Growth and Development," ISU General Staff Papers 201001010800002824, Iowa State University, Department of Economics.
    20. Bernhard Eckwert & Itzhak Zilcha, 2017. "Student loans: When is risk sharing desirable?," International Journal of Economic Theory, The International Society for Economic Theory, vol. 13(2), pages 217-231, June.
    21. Bhattacharya, Joydeep & Qiao, Xue & Wang, Min, 2014. "Endogenous borrowing constraints and wealth inequality," Staff General Research Papers Archive 38181, Iowa State University, Department of Economics.
    22. Andolfatto, David & Gervais, Martin, 2008. "Endogenous debt constraints in a life-cycle model with an application to social security," Journal of Economic Dynamics and Control, Elsevier, vol. 32(12), pages 3745-3759, December.
    23. Destrée, Nicolas & Gente, Karine & Nourry, Carine, 2021. "Migration, remittances and accumulation of human capital with endogenous debt constraints," Mathematical Social Sciences, Elsevier, vol. 112(C), pages 38-60.
    24. Miyazaki, Koichi, 2016. "Student loans, fertility, and economic growth," MPRA Paper 71604, University Library of Munich, Germany.
    25. Min Wang, 2014. "Optimal education policies under endogenous borrowing constraints," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(1), pages 135-159, January.
    26. David Croix & Philippe Michel, 2007. "Education and growth with endogenous debt constraints," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 33(3), pages 509-530, December.
    27. Satyajit Chatterjee & Felicia Ionescu, 2012. "Insuring student loans against the financial risk of failing to complete college," Working Papers 12-15, Federal Reserve Bank of Philadelphia.

  40. David Andolfatto, 2003. "Monetary Implications of the Hayashi-Prescott Hypothesis for Japan," Macroeconomics 0307008, University Library of Munich, Germany.

    Cited by:

    1. David E. Lebow, 2004. "The monetisation of Japan's government debt," BIS Working Papers 161, Bank for International Settlements.
    2. Athanasios Geromichalos & Lucas Herrenbrueck, 2022. "The Liquidity-Augmented Model of Macroeconomic Aggregates: A New Monetarist DSGE Approach," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 134-167, July.
    3. David Andolfatto, 2015. "A Model of U.S. Monetary Policy Before and After the Great Recession," Review, Federal Reserve Bank of St. Louis, vol. 97(3), pages 233-256.
    4. Kobayashi, Keiichiro & Inaba, Masaru, 2006. "Business cycle accounting for the Japanese economy," Japan and the World Economy, Elsevier, vol. 18(4), pages 418-440, December.
    5. Miyake, Atsushi & Nakamura, Tamotsu, 2007. "A dynamic analysis of an economy with banking optimization and capital adequacy regulations," Journal of Economics and Business, Elsevier, vol. 59(1), pages 14-27.
    6. Claudio Morana, 2004. "The Japanese Deflation: Has It Had Real Effects? Could It Have Been Avoided?," ICER Working Papers 29-2004, ICER - International Centre for Economic Research.
    7. Koichi Hamada, 2004. "Policy Making In Deflationary Japan," The Japanese Economic Review, Japanese Economic Association, vol. 55(3), pages 221-239, September.

  41. David Andolfatto & James Redekop, 2003. "Heterogeneous Time-Preference and the Distribution of Wealth," Macroeconomics 0310004, University Library of Munich, Germany.

    Cited by:

    1. David Andolfatto & James Redekop, 1998. "Redistribution Policy in a Model with Heterogeneous Time Preference," Cahiers de recherche CREFE / CREFE Working Papers 66, CREFE, Université du Québec à Montréal.
    2. Cysne, Rubens Penha, 2006. "On The Positive Correlation Between Income and Patience," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 60(1), January.

  42. David Andolfatto & Ed Nosal, 2003. "A theory of money and banking," Working Papers (Old Series) 0310, Federal Reserve Bank of Cleveland.

    Cited by:

    1. COCIUG, Victoria & TIMOFEI, Olga, 2014. "Monetary Policy Force Effect By Means Of Banks Money Creation," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 18(2), pages 18-28.
    2. COCIUG, Victoria & TIMOFEI, Olga, 2016. "Optimization Of Monetary Creation By Linking Monetary Policies With Commercial Banks' Strategies," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 20(2), pages 79-90.
    3. Sun, Hongfei, 2007. "Aggregate uncertainty, money and banking," Journal of Monetary Economics, Elsevier, vol. 54(7), pages 1929-1948, October.
    4. Amy Hongfei Sun, 2007. "Banking, Inside Money And Outside Money," Working Paper 1146, Economics Department, Queen's University.
    5. Kahn, Charles M. & Roberds, William, 2009. "Why pay? An introduction to payments economics," Journal of Financial Intermediation, Elsevier, vol. 18(1), pages 1-23, January.
    6. Jonathan Chiu & Césaire Meh, 2008. "Financial Intermediation, Liquidity and Inflation," Staff Working Papers 08-49, Bank of Canada.
    7. Geoffrey Dunbar, 2005. "International Lending, Capital Controls and Wealth Inequality," 2005 Meeting Papers 492, Society for Economic Dynamics.
    8. He, Ping & Huang, Lixin & Wright, Randall, 2008. "Money, banking, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1013-1024, September.
    9. Wen, Yi, 2015. "Money, liquidity and welfare," European Economic Review, Elsevier, vol. 76(C), pages 1-24.
    10. Yi Wen, 2013. "Liquidity and Welfare," 2013 Meeting Papers 204, Society for Economic Dynamics.
    11. Diarmid Weir, 2013. "Fiat Money, Individual Rationality and Production," Metroeconomica, Wiley Blackwell, vol. 64(4), pages 573-590, November.

  43. David Andolfatto & Scott Hendry & Kevin Moran, 2002. "Labour Markets, Liquidity, and Monetary Policy Regimes," Staff Working Papers 02-32, Bank of Canada.

    Cited by:

    1. Berentsen, Aleksander & Menzio, Guido & Wright, Randall D., 2009. "Inflation and unemployment in the long run," Kiel Working Papers 1501, Kiel Institute for the World Economy.
    2. Been-Lon Chen & Shian-Yu Liao & Dongpeng Liu & Xiangbo Liu, 2022. "Optimal Long-run Money Growth Rate in a Cash-in-Advance Economy with Labor-Market Frictions," IEAS Working Paper : academic research 22-A003, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    3. Robert Amano & Scott Hendry, 2003. "Inflation persistence and costly market share adjustment: a preliminary analysis," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 134-146, Bank for International Settlements.
    4. Moran, Kevin & Nono, Simplice Aimé, 2018. "Gradual learning about shocks and the forward premium puzzle," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 79-100.
    5. Pérez, Rafaela & Ruiz, Jesús & Lafuente Luengo, Juan Ángel, 2012. "Monetary policy regimes and the forward bias for foreign exchange," DEE - Working Papers. Business Economics. WB 12960, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    6. Sylvain Dessy & Safa Ragued, 2013. "Whither the Progressive Tax?," Cahiers de recherche 1340, CIRPEE.
    7. David Andolfatto & Scott Hendry & Kevin Moran, 2005. "Are Inflation Expectations Rational?," Macroeconomics 0501002, University Library of Munich, Germany.

  44. David Andolfatto & Scott Hendry & Kevin Moran, 2002. "Inflation Expectations and Learning about Monetary Policy," Staff Working Papers 02-30, Bank of Canada.

    Cited by:

    1. Richhild Moessner, 2006. "Optimal discretionary policy in rational expectations models with regime switching," Bank of England Staff Working Paper series 299, Bank of England.
    2. Frank Schorfheide, 2003. "Learning and monetary policy shifts," FRB Atlanta Working Paper 2003-23, Federal Reserve Bank of Atlanta.
    3. Svatopluk Kapounek & Lubor Lacina, 2011. "Inflation Perceptions and Anticipations in the Old Eurozone Member States," Prague Economic Papers, Prague University of Economics and Business, vol. 2011(2), pages 120-139.
    4. Dave Andolfatto & Scott Hendry & Kevin Moran, 2004. "Labour markets, liquidity, and monetary policy regimes," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(2), pages 392-420, May.
    5. Maarten Dossche & Gerdie Everaert, 2005. "Measuring Inflation Persistence: A Structural Time Series Approach," Computing in Economics and Finance 2005 459, Society for Computational Economics.
    6. Schaling, E., 2003. "Learning, Inflation Reduction and Optimal Monetary Policy," Other publications TiSEM 49f6213d-93d9-4a5a-85ca-5, Tilburg University, School of Economics and Management.
    7. Schaling, E., 2003. "Learning, Inflation Reduction and Optimal Monetary Policy," Discussion Paper 2003-74, Tilburg University, Center for Economic Research.
    8. Heinemann, Friedrich & Ullrich, Katrin, 2004. "The Impact of EMU on Inflation Expectations," ZEW Discussion Papers 04-01, ZEW - Leibniz Centre for European Economic Research.
    9. Schaling, Eric, 2003. "Learning, inflation expectations and optimal monetary policy," Bank of Finland Research Discussion Papers 20/2003, Bank of Finland.
    10. Eric Schaling, 2004. "Learning, inflation expectations and optimal monetary policy," Macroeconomics 0404035, University Library of Munich, Germany.
    11. Steffen Henzel, 2008. "Learning Trend Inflation – Can Signal Extraction Explain Survey Forecasts?," ifo Working Paper Series 55, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.

  45. David Andolfatto, 2000. "A Theory of Inalienable Property Rights," Cahiers de recherche CREFE / CREFE Working Papers 110, CREFE, Université du Québec à Montréal.

    Cited by:

    1. Klaus Deininger & Aparajita Goyal, 2025. "Land Policies and Institutions for Equitable and Resilient Growth in Africa," The World Bank Research Observer, World Bank, vol. 40(1), pages 1-57.
    2. Deininger, Klaus & Hilhorst, Thea & Songwe, Vera, 2014. "Identifying and addressing land governance constraints to support intensification and land market operation: Evidence from 10 African countries," Food Policy, Elsevier, vol. 48(C), pages 76-87.
    3. J. Atsu Amegashie, 2009. "Third-Party Intervention in Conflicts and the Indirect Samaritan's Dilemma," CESifo Working Paper Series 2695, CESifo.
    4. Deininger, Klaus & Xia, Fang & Kilic, Talip & Moylan, Heather, 2021. "Investment Impacts of Gendered Land Rights in Customary Tenure Systems: Substantive and Methodological Insights from Malawi," 2021 Conference, August 17-31, 2021, Virtual 315327, International Association of Agricultural Economists.
    5. World Bank, 2007. "India - Land Policies for Growth and Poverty Reduction," World Bank Publications - Reports 7818, The World Bank Group.
    6. Stark, Oded & Falniowski, Fryderyk & Jakubek, Marcin, 2017. "Consensus income distribution," University of Tübingen Working Papers in Business and Economics 96, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    7. Deininger, Klaus, 2010. "Towards sustainable systems of land administration: Recent evidence and challenges for Africa," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 5(01), pages 1-22, September.
    8. Stark, Oded & Jakubek, Marcin, 2016. "Can a concern for status reconcile diverse social welfare programs?," Discussion Papers 235213, University of Bonn, Center for Development Research (ZEF).
    9. Stark, Oded, 2005. "Inequality and Migration: A Behavioral Link," Economics Series 178, Institute for Advanced Studies.
    10. Dirk Krueger, 2006. "Public Insurance against Idiosyncratic and Aggregate Risk: The Case of Social Security and Progressive Income Taxation," CESifo Economic Studies, CESifo Group, vol. 52(4), pages 587-620, December.
    11. J. Amegashie & Bazoumana Ouattara & Eric Strobl, 2013. "Moral hazard and the composition of transfers: theory and evidence from cross-border transfers," Economics of Governance, Springer, vol. 14(3), pages 279-301, August.
    12. Stark, Oded, 2013. "Stressful integration," University of Tübingen Working Papers in Business and Economics 56, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    13. Stark, Oded & Wang, You Qiang, "undated". "Towards a Theory of Self- Segregation as a Response to Relative Deprivation: Steady-State Outcomes and Social Welfare," Discussion Papers 276259, University of Bonn, Center for Development Research (ZEF).
    14. Dilip Mookherjee & Ulf von Lilienfeld-Toal, 2005. "Bankruptcy Law, Bonded Labor and Inequality," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series DP-155, Boston University - Department of Economics.
    15. Stark, Oded & Sorger, Gerhard, 2012. "Income redistribution going awry: The reversal power of the concern for relative deprivation," University of Tübingen Working Papers in Business and Economics 47, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    16. Oded Stark, 2017. "Migration when Social Preferences are Ordinal: Steady-state Population Distribution and Social Welfare," Economica, London School of Economics and Political Science, vol. 84(336), pages 647-666, October.
    17. Jeremy Lise, 2006. "On-the-Job Search and Precautionary Savings: Theory and Empirics of Earnings and Wealth Inequality," 2006 Meeting Papers 137, Society for Economic Dynamics.
    18. Karel Zeman, 2018. "Analýza teorie vlastnických práv [Theory of Ownership Rights Analysis]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(1), pages 99-115.
    19. Dilip Mookherjee, 2005. "Decentralization, Hierarchies and Incentives: A Mechanism Design Perspective," Boston University - Department of Economics - Working Papers Series WP2005-034, Boston University - Department of Economics, revised Sep 2005.
    20. Kartik B. Athreya & Xuan S. Tam & Eric Young, 2009. "Are harsh penalties for default really better?," Working Paper 09-11, Federal Reserve Bank of Richmond.
    21. Kartik B. Athreya & Xuan S. Tam & Eric Young, 2011. "Loan guarantees for consumer credit markets," Working Paper 11-06, Federal Reserve Bank of Richmond.
    22. World Bank, 2015. "India Land Governance Assessment," World Bank Publications - Reports 24420, The World Bank Group.
    23. Oded Stark & Marcin Jakubek & Martyna Kobus, 2015. "A bitter choice turned sweet: How acknowledging individuals’ concern at having a low relative income serves to align utilitarianism and egalitarianism," Journal of Evolutionary Economics, Springer, vol. 25(3), pages 541-557, July.
    24. Deininger, Klaus & Jin, Songqing, 2009. "Securing property rights in transition: Lessons from implementation of China's rural land contracting law," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 22-38, May.
    25. Guidi, Marco G.D. & Hillier, Joe & Tarbert, Heather, 2008. "Maximizing the firm's value to society through ethical business decisions: Incorporating ‘moral debt’ claims," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 19(5), pages 603-619.

  46. David Andolfatto & Scott Hendry & Kevin Moran & Guang-Jia Zhang, 1999. "Persistent Liquidity Effects Following a Change in Monetary Policy Regime," Working Papers 00001, University of Waterloo, Department of Economics, revised Jan 2000.

    Cited by:

    1. Pedro Pablo Alvarez Lois, 2000. "Endogenous capacity utilization and the asymmetric effects of monetary policy," UFAE and IAE Working Papers 469.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).

  47. David Andolfatto & Paul Gomme, 1999. "Unemployment and Economic Welfare," Working Papers 99002, University of Waterloo, Department of Economics, revised Jan 1999.

    Cited by:

    1. Ozili, Peterson K, 2025. "Financial inclusion, religiosity and economic welfare in majority Christian, Hindu and Muslim countries," MPRA Paper 124262, University Library of Munich, Germany.
    2. Iman Cheratian & Saleh Goltabar & Luis A. Gil-Alaña, 2023. "The unemployment hysteresis by territory, gender, and age groups in Iran," SN Business & Economics, Springer, vol. 3(2), pages 1-18, February.
    3. Thomas Dickson Ndamsa & Gladys Njang & Francis Menjo Baye, 2020. "Social Welfare Consequences of the Radius of Employment Decency," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 6(3), pages 211-238, April.
    4. Nicolas Petrosky-Nadeau, 2009. "Credit, Vacancies and Unemployment Fluctuations," GSIA Working Papers 2009-E27, Carnegie Mellon University, Tepper School of Business.

  48. David Andolfatto & Glenn M. MacDonald, 1998. "Technology Diffusion and Aggregate Dynamics," Cahiers de recherche CREFE / CREFE Working Papers 58, CREFE, Université du Québec à Montréal.

    Cited by:

    1. Olaf Posch & Klaus Wälde, 2006. "Natural volatility, welfare and taxation," Working Papers 2007_33, Business School - Economics, University of Glasgow.
    2. David Andolfatto & Glenn MacDonald, 2004. "Jobless Recoveries," Macroeconomics 0412014, University Library of Munich, Germany.
    3. Liu, Taoxiong & Liu, Zhuohao, 2022. "A growth model with endogenous technological revolutions and cycles," Journal of Mathematical Economics, Elsevier, vol. 103(C).
    4. Lilia Maliar & Serguei Maliar, 2004. "Solving Nonlinear Dynamic Stochastic Models: An Algorithm Computing Value Functions By Simulations," Working Papers. Serie AD 2004-37, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    5. Toshiya Ishikawa, 2004. "Technology Diffusion and Business Cycle Asymmetry," DEGIT Conference Papers c009_016, DEGIT, Dynamics, Economic Growth, and International Trade.
    6. Barsky, Robert B. & Sims, Eric R., 2011. "News shocks and business cycles," Journal of Monetary Economics, Elsevier, vol. 58(3), pages 273-289.
    7. Sercan Ozcan & Nazrul Islam, 2017. "Patent information retrieval: approaching a method and analysing nanotechnology patent collaborations," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(2), pages 941-970, May.
    8. Michele Boldrin & David K Levine, 2010. "Quality Ladders, Competition and Endogenous Growth," Levine's Working Paper Archive 661465000000000028, David K. Levine.
    9. Davide Consoli, 2003. "The evolution of retail banking services in United Kingdom: a retrospective analysis," Industrial Organization 0310002, University Library of Munich, Germany.
    10. Jeremy Greenwood & Ananth Seshadri & Guillaume Vandenbroucke, 2005. "The Baby Boom and Baby Bust," American Economic Review, American Economic Association, vol. 95(1), pages 183-207, March.
    11. Kopytov, Alexandr & Roussanov, Nikolai & Taschereau-Dumouchel, Mathieu, 2018. "Short-run pain, long-run gain? Recessions and technological transformation," Journal of Monetary Economics, Elsevier, vol. 97(C), pages 29-44.
    12. Greenwood, Jeremy & Guner, Nezih, 2008. "Social Change," IZA Discussion Papers 3485, IZA Network @ LISER.
    13. Michael R. Pakko, 2005. "Changing technology trends, transition dynamics and growth accounting," Working Papers 2000-014, Federal Reserve Bank of St. Louis.
    14. Hofer Helmut & Weyerstraß Klaus & Schmidt Torsten, 2011. "Practice and Prospects of Medium-term Economic Forecasting," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 231(1), pages 153-171, February.
    15. Greenwood, Jeremy & Guner, Nezih, 2007. "Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households," CEPR Discussion Papers 6391, Centre for Economic Policy Research.
    16. Lilia Maliar & Serguei Maliar, 2003. "Endogenous Growth And Endogenous Business Cycles," Working Papers. Serie AD 2003-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    17. Ahn, Sanghoon, 2003. "Technology Upgrading with Learning Cost," CEI Working Paper Series 2003-21, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    18. Jeff Wrase & Kerk Phillips, 2004. "Is Schumpeterian Creative Destruction a Plausible Source of Endogenous Real Business Cycle Shocks," Econometric Society 2004 Far Eastern Meetings 428, Econometric Society.
    19. Daron Acemoglu & Ufuk Akcigit & Simon Johnson, 2026. "Technology and Economic Development," CESifo Working Paper Series 12404, CESifo.
    20. Francois, P. & Lloyd-Ellis, H., 2003. "Co-movement, Capital and Contracts : 'Normal' Cycles Through Creative Destruction," Discussion Paper 2003-62, Tilburg University, Center for Economic Research.
    21. Nahuis, R., 1998. "The Dynamics of a General Purpose Technology in a Research and Assimilation Model," Discussion Paper 1998-119, Tilburg University, Center for Economic Research.
    22. Beaudry, Paul & Collard, Fabrice, 2001. "The Employment-Productivity Tradeoff around the 1980s : A Case for Medium Run Theory," IDEI Working Papers 137, Institut d'Économie Industrielle (IDEI), Toulouse, revised 2003.
    23. Berthold Herrendorf & Richard Rogerson & Akos Valentinyi, 2019. "Growth and the Kaldor Facts," Review, Federal Reserve Bank of St. Louis, vol. 101(4), pages 259-276.
    24. Sang-Yong Tom Lee & Xiao Jia Guo, 2004. "Information and Communications Technology (ICT) and Spillover: A Panel Analysis," Econometric Society 2004 Far Eastern Meetings 722, Econometric Society.
    25. Kerk L. Phillips, 2000. "Schumpeterian Growth and Endogenous Business Cycles," Econometric Society World Congress 2000 Contributed Papers 0706, Econometric Society.
    26. Orlando Gomes, 2005. "Knowledge creation and technology difusion: a framework to understand economic growth," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 20(2), pages 41-61, December.
    27. Patrick Francois & Huw Lloyd-Ellis, 2005. "I - Q Cycles," Working Paper 1040, Economics Department, Queen's University.
    28. Chol-Won Li, 1998. "Growth and Output Fluctuations," Working Papers 9810, Business School - Economics, University of Glasgow.
    29. Chase Coleman & Kerk L. Phillips, 2014. "Business Cycle Persistence in a Model with Schumpeterian Growth and Uncorrelated Shocks," BYU Macroeconomics and Computational Laboratory Working Paper Series 2014-01, Brigham Young University, Department of Economics, BYU Macroeconomics and Computational Laboratory.
    30. Filip Rozsypal, 2015. "Schumpeterian business cycles," 2015 Meeting Papers 320, Society for Economic Dynamics.
    31. Jeremy Greenwood & Ananth Seshadri & Guillaume Vandenbroucke, 2002. "The baby boom and baby bust: some macroeconomics for population economics," Proceedings, Federal Reserve Bank of San Francisco, issue Nov.
    32. Alexiadis, Stilianos & Eleftheriou, Konstantinos & Nijkamp, Peter, 2013. "Technology adoption within a search model: Evidence from OECD countries," Economic Modelling, Elsevier, vol. 33(C), pages 137-148.
    33. John Laitner & Dmitriy Stolyarov, 2003. "Technological Change and the Stock Market," American Economic Review, American Economic Association, vol. 93(4), pages 1240-1267, September.
    34. Lars Jonung, 2005. "Proceedings of the 2004 first annual DG ECFIN research conference on “Business Cycles and Growth in Europeâ€," European Economy - Economic Papers 2008 - 2015 227, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    35. Ivan Stoikov, 2000. "Economic Shocks," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-29.
    36. Michael R. Pakko, 2002. "Investment-specific technology growth: concepts and recent estimates," Review, Federal Reserve Bank of St. Louis, vol. 84(Nov), pages 37-48.
    37. Patrick Francois & Huw Lloyd-Ellis, 2004. "Investment Cycles," Macroeconomics 0405005, University Library of Munich, Germany, revised 05 May 2004.
    38. Terence Tai-Leung Chong & Guoxin Liu & Isabel Kit-Ming Yan, 2007. "Habit Formation: Deep and Uncertain," Economics Bulletin, AccessEcon, vol. 3(2), pages 1-10.
    39. Siu, Henry E, 2018. "Comment on “Short-run pain, long-run gain? Recessions and technological transformation”," Journal of Monetary Economics, Elsevier, vol. 97(C), pages 45-47.
    40. Chase Coleman & Kerk Phillips, 2013. "Can Uncorrelated Shocks Generate Aggregate Autocorrelation?: Business Cycle Persistence in a Model with Endogenous Growth and Fluctuations," BYU Macroeconomics and Computational Laboratory Working Paper Series 2013-03, Brigham Young University, Department of Economics, BYU Macroeconomics and Computational Laboratory.
    41. John D. Stiver, 2003. "Technology Creation, Diffusion, and Growth Cycles," Working papers 2003-35, University of Connecticut, Department of Economics.
    42. Jeremy Greenwood & Nezih Guner, 2009. "Social Change: The Sexual Revolution," RCER Working Papers 550, University of Rochester - Center for Economic Research (RCER).
    43. Chen, Kaiji & Wemy, Edouard, 2015. "Investment-specific technological changes: The source of long-run TFP fluctuations," European Economic Review, Elsevier, vol. 80(C), pages 230-252.
    44. Justman, Moshe, 2004. "Transitional dynamics of output, wages and profits in innovation-led growth: a general equilibrium analysis," Structural Change and Economic Dynamics, Elsevier, vol. 15(2), pages 183-205, June.
    45. Guillaume Vandenbroucke, 2003. "The U.S. Westward Expansion," Economie d'Avant Garde Research Reports 4, Economie d'Avant Garde, revised Apr 2004.
    46. Boyan Jovanovic, 1998. "Michael Gort's Contribution to Economics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 327-337, April.

  49. David Andolfatto & Paul Gomme, 1997. "Monetary Policy Regimes and Beliefs," Cahiers de recherche CREFE / CREFE Working Papers 48, CREFE, Université du Québec à Montréal, revised Apr 2001.

    Cited by:

    1. Gaffeo, E. & Petrella, I. & Pfajfar, D. & Santoro, E., 2010. "Reference-dependent Preferences and the Transmission of Monetary Policy," Other publications TiSEM 2d1a9a11-fccf-42ef-8779-3, Tilburg University, School of Economics and Management.
    2. Chao Gu & Han Han & Randall Wright, 2016. "The Effects of Monetary Policy and Other Announcements," Working Papers 1621, Department of Economics, University of Missouri.
    3. Keith Sill & Jeffrey M. Wrase, 1999. "Solving and simulating a simple open-economy model with Markov-switching driving processes and rational learning," Working Papers 99-14, Federal Reserve Bank of Philadelphia.
    4. Meixing DAI & Moïse SIDIROPOULOS & Eleftherios Spyromitros, 2009. "Monetary policy transparency and inflation persistence in a small open economy," Working Papers of BETA 2009-08, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    5. J. Scott Davis, 2012. "The effect of commodity price shocks on underlying inflation: the role of central bank credibility," Globalization Institute Working Papers 134, Federal Reserve Bank of Dallas.
    6. Peter Lihn Jørgensen & Kevin J. Lansing, 2026. "From Volcker to the Pandemic Era: History Dependent Anchoring of Short-Run Expected Inflation," Working Paper Series 2026-08, Federal Reserve Bank of San Francisco.
    7. Eric M. Leeper & Tao Zha, 2002. "Modest Policy Interventions," NBER Working Papers 9192, National Bureau of Economic Research, Inc.
    8. James B. Bullard, 2006. "The learnability criterion and monetary policy," Review, Federal Reserve Bank of St. Louis, vol. 88(May), pages 203-217.
    9. Frédérick Demers, 2003. "The Canadian Phillips Curve and Regime Shifting," Staff Working Papers 03-32, Bank of Canada.
    10. Albert Marcet & Juan Pablo Nicolini, 2005. "Money and Prices in Models of Bounded Rationality in High Inflation Economies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(2), pages 452-479, April.
    11. Davig, Troy, 2004. "Regime-switching debt and taxation," Journal of Monetary Economics, Elsevier, vol. 51(4), pages 837-859, May.
    12. Cogley, Timothy & Matthes, Christian & Sbordone, Argia M., 2015. "Optimized Taylor rules for disinflation when agents are learning," Journal of Monetary Economics, Elsevier, vol. 72(C), pages 131-147.
    13. Bodo Herzog, 2019. "Dynamic Expectation Theory: Insights for Market Participants," JRFM, MDPI, vol. 12(2), pages 1-14, May.
    14. Robert Dittmar & Michael J. Dueker & Andreas M. Fischer, 2004. "Stochastic capital depreciation and the comovement of hours and productivity," Working Papers 2002-003, Federal Reserve Bank of St. Louis.
    15. Zampolli, Fabrizio, 2006. "Optimal monetary policy in a regime-switching economy: The response to abrupt shifts in exchange rate dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 30(9-10), pages 1527-1567.
    16. Patureau, Lise, 2007. "Pricing-to-market, limited participation and exchange rate dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 31(10), pages 3281-3320, October.
    17. Ryo Horii & Yoshiyasu Ono, 2020. "Financial Crisis and Slow Recovery with Bayesian Learning Agents," ISER Discussion Paper 1085, Institute of Social and Economic Research, The University of Osaka.
    18. William A. Branch & Troy Davig & Bruce McGough, 2007. "Expectational stability in regime-switching rational expectations models," Research Working Paper RWP 07-09, Federal Reserve Bank of Kansas City.
    19. Carravetta, Francesco & Sorge, Marco M., 2011. "On the Solution of Markov-switching Rational Expectations Models," Bonn Econ Discussion Papers 05/2011, University of Bonn, Bonn Graduate School of Economics (BGSE).
    20. Troy Davig, 2007. "Phillips curve instability and optimal monetary policy," Research Working Paper RWP 07-04, Federal Reserve Bank of Kansas City.
    21. Maćkowiak, Bartosz, 2006. "Macroeconomic regime switches and speculative attacks," SFB 649 Discussion Papers 2006-025, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    22. Krane, Spencer David & Melosi, Leonardo & Rottner, Matthias, 2023. "Learning monetary policy strategies at the effective lower bound with sudden surprises," Discussion Papers 22/2023, Deutsche Bundesbank.
    23. Richter, Alexander W. & Throckmorton, Nathaniel A., 2015. "The consequences of an unknown debt target," European Economic Review, Elsevier, vol. 78(C), pages 76-96.
    24. Bullard, James & Singh, Aarti, 2009. "Learning and the Great Moderation," CEPR Discussion Papers 7401, Centre for Economic Policy Research.
    25. David Andolfatto & Scott Hendry & Kevin Moran, 2002. "Inflation Expectations and Learning about Monetary Policy," Staff Working Papers 02-30, Bank of Canada.
    26. Jovanovic, Mario, 2012. "Empirical Evidence on the Generalized Taylor Principle," Ruhr Economic Papers 334, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    27. Richhild Moessner, 2006. "Optimal discretionary policy in rational expectations models with regime switching," Bank of England Staff Working Paper series 299, Bank of England.
    28. Victor E. Li, 2018. "Search, Financial Market Frictions, and Monetary Transmission," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1935-1968, December.
    29. Ryo Horii & Yoshiyasu Ono, 2005. "Financial Crisis and Recovery: Learning-based Liquidity Preference Fluctuations," Macroeconomics 0504016, University Library of Munich, Germany.
    30. Keith Sill & Jeffrey M. Wrase, 1999. "Exchange rates and monetary policy regimes in Canada and the U.S," Working Papers 99-13, Federal Reserve Bank of Philadelphia.
    31. Barnett, Alina & Ellison, Martin, 2012. "Learning by disinflating," Bank of Finland Research Discussion Papers 10/2012, Bank of Finland.
    32. Eric M. Leeper, 2009. "Anchors Away: How Fiscal Policy Can Undermine “Good” Monetary Policy," CAEPR Working Papers 2009-021, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    33. Francesco Bianchi & Leonardo Melosi, 2013. "Modeling the Evolution of Expectations and Uncertainty in General Equilibrium," Working Paper Series WP-2013-12, Federal Reserve Bank of Chicago.
    34. Frank Schorfheide, 2003. "Learning and monetary policy shifts," FRB Atlanta Working Paper 2003-23, Federal Reserve Bank of Atlanta.
    35. Kevin Moran, 2005. "Learning and the Welfare Implications of Changing Inflation Targets," Cahiers de recherche 0511, CIRPEE.
    36. Roger E. A. Farmer & Daniel F. Waggoner & Tao Zha, 2007. "Understanding the New Keynesian model when monetary policy switches regimes," FRB Atlanta Working Paper 2007-12, Federal Reserve Bank of Atlanta.
    37. Westelius, Niklas J., 2005. "Discretionary monetary policy and inflation persistence," Journal of Monetary Economics, Elsevier, vol. 52(2), pages 477-496, March.
    38. Andrew Foerster & Christian Matthes, 2022. "Learning About Regime Change," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(4), pages 1829-1859, November.
    39. Eric M. Leeper & Todd B. Walker, 2011. "Fiscal Limits in Advanced Economies," NBER Working Papers 16819, National Bureau of Economic Research, Inc.
    40. Carravetta, Francesco & Sorge, Marco M., 2013. "Model reference adaptive expectations in Markov-switching economies," Economic Modelling, Elsevier, vol. 32(C), pages 551-559.
    41. Amman, Hans M. & Kendrick, David A., 2003. "Mitigation of the Lucas critique with stochastic control methods," Journal of Economic Dynamics and Control, Elsevier, vol. 27(11-12), pages 2035-2057, September.
    42. Victor E. Li, 2012. "Monetary Transmission and the Search for Liquidity," Villanova School of Business Department of Economics and Statistics Working Paper Series 19, Villanova School of Business Department of Economics and Statistics.
    43. Jørgensen, Peter Lihn & Lansing, Kevin J., 2025. "A simple measure of anchoring for short-run expected inflation in FIRE models," Economics Letters, Elsevier, vol. 246(C).
    44. Frédéric Karamé & Lise Patureau & Thepthida Sopraseuth, 2003. "Limited Participation and Exchange Rate Dynamics: Does Theory Meet the Data?," Documents de recherche 03-15, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    45. Huh, Chan G. & Lansing, Kevin J., 2000. "Expectations, credibility, and disinflation in a small macroeconomic model," Journal of Economics and Business, Elsevier, vol. 52(1-2), pages 51-86.
    46. Hollmayr, Josef & Matthes, Christian, 2015. "Tales of transition paths: Policy uncertainty and random walks," Discussion Papers 14/2015, Deutsche Bundesbank.
    47. Dave Andolfatto & Scott Hendry & Kevin Moran, 2004. "Labour markets, liquidity, and monetary policy regimes," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 37(2), pages 392-420, May.
    48. Müller, Gernot & Kriwoluzky, Alexander & Wolf, Martin, 2015. "Exit expectations and debt crises in currency unions," CEPR Discussion Papers 10817, Centre for Economic Policy Research.
    49. Seonghoon Cho, 2016. "Sufficient Conditions for Determinacy in a Class of Markov-Switching Rational Expectations Models," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 182-200, July.
    50. Andolfatto, David, 2003. "Monetary Implications of the Hayashi-Prescott Hypothesis for Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 21(4), pages 1-20, December.
    51. Chauvet, Marcelle & Jiang, Cheng, 2023. "Nonlinear relationship between monetary policy and stock returns: Evidence from the U.S," Global Finance Journal, Elsevier, vol. 55(C).
    52. Lise Patureau, 2002. "Pricing-to-market and limited participation : a joint explanation to the exchange rate disconnect puzzle," Computing in Economics and Finance 2002 299, Society for Computational Economics.
    53. Eric M. Leeper, 2011. "Anchors Aweigh: How Fiscal Policy Can Undermine “Good” Monetary Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Roberto Chang & Diego Saravia (ed.),Monetary Policy under Financial Turbulence, edition 1, volume 16, chapter 11, pages 411-453, Central Bank of Chile.
    54. Michael R. Pakko, 1998. "Dynamic shoe-leather costs in a shopping-time model of money," Working Papers 1998-007, Federal Reserve Bank of St. Louis.
    55. Jørgensen, Peter Lihn & Lansing, Kevin J., 2025. "Anchored inflation expectations and the slope of the Phillips curve," European Economic Review, Elsevier, vol. 178(C).
    56. Zheng Liu & Daniel F. Waggoner & Tao Zha, 2007. "Asymmetric expectation effects of regime shifts and the Great Moderation," Working Papers 653, Federal Reserve Bank of Minneapolis.
    57. Horii, Ryo & Ono, Yoshiyasu, 2009. "Information Cycles and Depression in a Stochastic Money-in-Utility Model," MPRA Paper 13485, University Library of Munich, Germany.
    58. Troy Davig & Eric M. Leeper, 2006. "Endogenous monetary policy regime change," Research Working Paper RWP 06-11, Federal Reserve Bank of Kansas City.
    59. Chan Guk Huh & Kevin J. Lansing, 1998. "Federal Reserve credibility and inflation scares," Economic Review, Federal Reserve Bank of San Francisco, pages 3-16.
    60. Saadi, Samir & Rahman, Abdul, 2008. "Evidence of non-stationary bias in scaling by square root of time: Implications for Value-at-Risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 18(3), pages 272-289, July.
    61. Lendvai, Julia, 2006. "Inflation dynamics and regime shifts," Working Paper Series 684, European Central Bank.
    62. Matti Viren, 2006. "Inflation Expectations and Regime Shifts," Discussion Papers 5, Aboa Centre for Economics.
    63. Eric M. Leeper, 2009. "Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle," NBER Working Papers 15514, National Bureau of Economic Research, Inc.
    64. Troy Davig & Eric M. Leeper, 2005. "Generalizing the Taylor Principle," NBER Working Papers 11874, National Bureau of Economic Research, Inc.
    65. Ryo Horii & Yoshiyasu Ono, 2006. "Learning, Inflation Cycles, and Depression," Discussion Papers in Economics and Business 06-14, Osaka University, Graduate School of Economics.
    66. Robert Amano & Scott Hendry, 2003. "Inflation persistence and costly market share adjustment: a preliminary analysis," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 134-146, Bank for International Settlements.
    67. Hahm Sang-Moon, 2002. "Monetary Bands And Monetary Neutrality," International Economic Journal, Taylor & Francis Journals, vol. 16(2), pages 115-128.
    68. Michael R. Pakko, 1998. "Shoe-leather costs of inflation and policy credibility," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 37-50.
    69. Allen Head & Alok Kumar & Beverly Lapham, 2006. "Market Power, Price Adjustment, And Inflation," Working Paper 1089, Economics Department, Queen's University.
    70. Andolfatto, David & Hendry, Scott & Moran, Kevin, 2008. "Are inflation expectations rational?," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 406-422, March.
    71. Troy Davig & Eric M. Leeper, 2009. "Reply to "Generalizing the Taylor Principle: A Comment"," NBER Working Papers 14919, National Bureau of Economic Research, Inc.
    72. J. Scott Davis & Ignacio Presno, 2014. "Inflation targeting and the anchoring of inflation expectations: cross-country evidence from consensus forecasts," Globalization Institute Working Papers 174, Federal Reserve Bank of Dallas.
    73. Keith Sill & Jeff Wrase, 2000. "Exchange Rates, Monetary Policy Regimes, and Beliefs," Econometric Society World Congress 2000 Contributed Papers 1701, Econometric Society.
    74. Zheng Liu & Daniel F. Waggoner & Tao Zha, 2008. "Asymmetric Expectation Effects of Regime Shifts in Monetary Policy," Working Paper Series 2008-22, Federal Reserve Bank of San Francisco.
    75. Kozicki, Sharon & Tinsley, P.A., 2005. "Permanent and transitory policy shocks in an empirical macro model with asymmetric information," Journal of Economic Dynamics and Control, Elsevier, vol. 29(11), pages 1985-2015, November.
    76. J. Scott Davis, 2012. "Central bank credibility and the persistence of inflation and inflation expectations," Globalization Institute Working Papers 117, Federal Reserve Bank of Dallas.
    77. Tristani, Oreste & Amisano, Gianni, 2011. "Exact likelihood computation for nonlinear DSGE models with heteroskedastic innovations," Working Paper Series 1341, European Central Bank.
    78. Spencer Krane & Leonardo Melosi & Matthias Rottner, 2026. "Learning monetary policy strategies at the effective lower bound with sudden surprises," BIS Working Papers 1349, Bank for International Settlements.
    79. Ryo Horii & Yoshiyasu Ono, 2004. "Learning, Liquidity Preference, and Business Cycle," ISER Discussion Paper 0601, Institute of Social and Economic Research, The University of Osaka.
    80. Jovanović, Mario, 2012. "Empirical evidence on the generalized Taylor principle," Economics Letters, Elsevier, vol. 117(1), pages 78-80.
    81. Scott Hendry & Guang-Jia Zhang, 1998. "Liquidity Effects and Market Frictions," Staff Working Papers 98-11, Bank of Canada.
    82. Steffen Henzel, 2008. "Learning Trend Inflation – Can Signal Extraction Explain Survey Forecasts?," ifo Working Paper Series 55, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    83. James B. Bullard & John Duffy, 2004. "Learning and structural change in macroeconomic data," Working Papers 2004-016, Federal Reserve Bank of St. Louis.
    84. Hairault, Jean-Olivier & Patureau, Lise & Sopraseuth, Thepthida, 2004. "Overshooting and the exchange rate disconnect puzzle: a reappraisal," Journal of International Money and Finance, Elsevier, vol. 23(4), pages 615-643, June.
    85. Frédéric Karamé & Lise Patureau & Thepthida Sopraseuth, 2002. "Can We Beat the Random Walk Forecasts of Out-of-Sample Exchange Rates? A Structural Approach," Computing in Economics and Finance 2002 233, Society for Computational Economics.
    86. Hess Chung & Troy Davig & Eric M. Leeper, 2007. "Monetary and Fiscal Policy Switching," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(4), pages 809-842, June.
    87. Timothy Cogley & Boyan Jovanovic, 2020. "Structural Breaks in an Endogenous Growth Model," NBER Working Papers 28026, National Bureau of Economic Research, Inc.
    88. Davig, Troy & Leeper, Eric M., 2011. "Monetary-fiscal policy interactions and fiscal stimulus," European Economic Review, Elsevier, vol. 55(2), pages 211-227, February.
    89. de Blas, Beatriz, 2010. "Exchange rate dynamics in economies with portfolio rigidities," International Review of Economics & Finance, Elsevier, vol. 19(3), pages 366-382, June.

  50. Andolfatto, D. & Gomme, P. & Storer, P., 1996. "U.S. Labour Market Policy and the Canada-U.S. Unemployment Rate Gap," Working Papers 9604, University of Waterloo, Department of Economics.

    Cited by:

    1. Michael Elsby & Bart Hobijn & Ayşegül Şahin, 2013. "On the Importance of the Participation Margin for Market Fluctuations," Working Paper Series 2013-05, Federal Reserve Bank of San Francisco.
    2. Richard Rogerson, 1997. "Theory Ahead of Language in the Economics of Unemployment," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 73-92, Winter.
    3. Pries, Michael & Rogerson, Richard, 2009. "Search frictions and labor market participation," European Economic Review, Elsevier, vol. 53(5), pages 568-587, July.
    4. Wang, Cheng & Williamson, Steve, 1996. "Unemployment Insurance with Moral Hazard in a Dynamic Economy," Staff General Research Papers Archive 5088, Iowa State University, Department of Economics.
    5. Krusell, Per & Mukoyama, Toshihiko & Rogerson, Richard & Sahin, Aysegül, 2011. "A three state model of worker flows in general equilibrium," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1107-1133, May.
    6. David Andolfatto & Paul Gomme, 1998. "Unemployment and economic welfare," Economic Review, Federal Reserve Bank of Cleveland, vol. 34(Q III), pages 25-34.
    7. Rogerson, Richard & Sahin, Aysegul & Mukoyama, Toshihiko, 2009. "Aggregate Labor Market Outcomes: The Role of Choice and Chance," CEPR Discussion Papers 7435, Centre for Economic Policy Research.
    8. Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin & Per Krusell, 2009. "Labor supply in a frictional labor market," 2009 Meeting Papers 54, Society for Economic Dynamics.

  51. Andolfatto, D. & MacDonald, G.M., 1995. "Technological Innovation, Diffusion and Business Cycle Dynamics," Discussion Papers dp95-08, Department of Economics, Simon Fraser University.

    Cited by:

    1. Samuel Danthine & Michel De Vroey, 2016. "The Integration of Search in Macroeconomics: Interviews with David Andolfatto, Peter Diamond and Monika Merz," LIDAM Discussion Papers IRES 2016013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

  52. Andolfatto, D. & MacDonald, G.M., 1995. "Endogeneous Technological Change, Growth, and Aggregate Functions," Working Papers 9504, University of Waterloo, Department of Economics.

    Cited by:

    1. David Andolfatto & Glenn MacDonald, 1998. "Technology Diffusion and Aggregate Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 338-370, April.
    2. Timothy Dunne & Kenneth R Troske & John Haltiwanger, 1996. "Technology and Jobs: Secular Changes and Cyclical Dynamics," Working Papers 96-7, Center for Economic Studies, U.S. Census Bureau.
    3. John Haltiwanger, 1997. "Measuring and analyzing aggregate fluctuations: the importance of building from microeconomic evidence," Review, Federal Reserve Bank of St. Louis, issue May, pages 55-78.
    4. Boyan Jovanovic & Glenn MacDonald, 1993. "Competitive Diffusion," NBER Working Papers 4463, National Bureau of Economic Research, Inc.

  53. Andolfatto, D. & Gomme, P., 1995. "Unemployment Insurance, Labor Market Dynamics and Social Welfare," Discussion Papers dp95-09, Department of Economics, Simon Fraser University.

    Cited by:

    1. Andreas Hornstein & Mingwei Yuan, 1998. "Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?," Staff Working Papers 98-19, Bank of Canada.
    2. Stephane Pallage & Christian Zimmermann, 1997. "Moral Hazard and Optimal Unemployment Insurance in an Economy with Heterogeneous Skills," Cahiers de recherche CREFE / CREFE Working Papers 54, CREFE, Université du Québec à Montréal.
    3. Brown, Laura & Ferrall, Christopher, 1997. "Unemployment Insurance and the Business Cycle," Queen's Institute for Economic Research Discussion Papers 273399, Queen's University - Department of Economics.

  54. Andolfatto, D., 1993. "Optimal Team Contracts," Working Papers 9306, University of Waterloo, Department of Economics.

    Cited by:

    1. Spraggon, John, 2002. "Exogenous targeting instruments as a solution to group moral hazards," Journal of Public Economics, Elsevier, vol. 84(3), pages 427-456, June.
    2. Huddart, Steven & Liang, Pierre Jinghong, 2005. "Profit sharing and monitoring in partnerships," Journal of Accounting and Economics, Elsevier, vol. 40(1-3), pages 153-187, December.
    3. Madanmohan Ghosh & Carlo Perroni & John Whalley, 1999. "The Value of MFN Treatment to Developing Countries," University of Western Ontario, Departmental Research Report Series 9916, University of Western Ontario, Department of Economics.
    4. Claude Meidinger & Jean-Louis Rullière & Marie Claire Villeval, 2001. "Free-riding and Fairness in Principal-Multi-Agent Relationships: Experimental Evidence," Post-Print halshs-00151509, HAL.
    5. Claude Meidinger & Jean-Louis Rullière & Marie-Claire Villeval, 2000. "Free-Riding and Fairness in Principal -Multi-Agent Relationships: Experimental Evidence," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03718476, HAL.
    6. Dow, Gregory K. & Putterman, Louis, 2000. "Why capital suppliers (usually) hire workers: what we know and what we need to know," Journal of Economic Behavior & Organization, Elsevier, vol. 43(3), pages 319-336, November.
    7. María Verónica Alderete, 2015. "Redes de pymes: una visión desde las teorías de club y de equipo," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 17(32), pages 317-348, January-J.
    8. Dow, Gregory K., 2000. "On the Neutrality of Asset Ownership for Work Incentives," Journal of Comparative Economics, Elsevier, vol. 28(3), pages 581-605, September.
    9. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650.
    10. Fosco, C. & Mengel, F., 2008. "Incentives and informal networks," Research Memorandum 022, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    11. Omar Chisari & Gustavo Ferro, 2011. "Tópicos de Economía de la Regulación de los Servicios Públicos," UADE Textos de Discusión 65_2011, Instituto de Economía, Universidad Argentina de la Empresa.

Articles

  1. David Andolfatto, 2024. "Technological Change and Central Banking," Review, Federal Reserve Bank of St. Louis, vol. 106(1), pages 1-9, January.

    Cited by:

    1. Sethi, Dinabandhu & Sharma, Ujjwal & Meher, Alekha, 2024. "Does central bank transparency converge across the world? Evidence from a club convergence perspective," Finance Research Letters, Elsevier, vol. 66(C).

  2. David Andolfatto & Fernando M. Martin, 2022. "The Blockchain Revolution: Decoding Digital Currencies," Review, Federal Reserve Bank of St. Louis, vol. 104(3), pages 149-165, July.

    Cited by:

    1. Remy Oben & Fezile Özdamlı, 2024. "Decentralized Finance (DeFi): Benefits, Risks, and RiskMitigation Strategies," Istanbul Business Research, Istanbul University Business School, vol. 53(3), pages 455-475, December.
    2. Timothy King & Dimitrios Koutmos, 2025. "ESG crypto coins: speculative assets, or, the future of green money?," Review of Quantitative Finance and Accounting, Springer, vol. 65(2), pages 777-816, August.

  3. David Andolfatto, 2021. "Assessing the Impact of Central Bank Digital Currency on Private Banks," The Economic Journal, Royal Economic Society, vol. 131(634), pages 525-540.
    See citations under working paper version above.
  4. David Andolfatto, 2021. "Is It Time for Some Unpleasant Monetarist Arithmetic?," Review, Federal Reserve Bank of St. Louis, vol. 103(3), pages 315-332, July.

    Cited by:

    1. Carlos Goncalves & Mauro Rodrigues & Fernando Genta, 2022. "Elusive Unpleasantness," Working Papers, Department of Economics 2022_16, University of São Paulo (FEA-USP).
    2. Federico S. Mandelman, 2021. "Money Aggregates, Debt, Pent-Up Demand, and Inflation: Evidence from WWII," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2021(4), pages 1-19, May.

  5. David Andolfatto, 2020. "Does the National Debt Matter?," The Regional Economist, Federal Reserve Bank of St. Louis, vol. 28(4), December.

    Cited by:

    1. Dirk Ehnts & Michael Paetz, 2021. "Wie finanzieren wir die Corona-Schulden? [How Do We Finance the Corona Debt? Attempting a “Right” Answer to the “Wrong” Question from the Perspective of Modern Monetary Theory]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(3), pages 200-206, March.

  6. David Andolfatto & Aleksander Berentsen & Fernando M Martin, 2020. "Money, Banking, and Financial Markets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 87(5), pages 2049-2086.
    See citations under working paper version above.
  7. David Andolfatto & Andrew Spewak, 2019. "Whither the Price of Bitcoin?," Economic Synopses, Federal Reserve Bank of St. Louis, issue 1, pages 1-2.

    Cited by:

    1. Süssmuth, Bernd, 2019. "Bitcoin and Web Search Query Dynamics: Is the price driving the hype or is the hype driving the price?," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203566, Verein für Socialpolitik / German Economic Association.
    2. Kirsten, Oliver & Süssmuth, Bernd, 2025. "Forecasting the unforecastable: An independent component analysis for majority game-like global cryptocurrencies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 665(C).
    3. Hanna Halaburda & Guillaume Haeringer & Joshua S. Gans & Neil Gandal, 2020. "The Microeconomics of Cryptocurrencies," NBER Working Papers 27477, National Bureau of Economic Research, Inc.
    4. David Andolfatto & Fernando M. Martin, 2022. "The Blockchain Revolution: Decoding Digital Currencies," Review, Federal Reserve Bank of St. Louis, vol. 104(3), pages 149-165, July.

  8. David Andolfatto & Andrew Spewak, 2019. "Understanding Lowflation," Review, Federal Reserve Bank of St. Louis, vol. 101(1), pages 1-26.
    See citations under working paper version above.
  9. David Andolfatto & Andrew Spewak, 2018. "On the Supply of, and Demand for, U.S. Treasury Debt," Economic Synopses, Federal Reserve Bank of St. Louis, issue 5, pages 1-3.

    Cited by:

    1. Herb, Patrick, 2025. "The treasury auction risk premium," Journal of Banking & Finance, Elsevier, vol. 170(C).
    2. Iryna Kaminska & Gabriele Zinna, 2019. "Official demand for US debt: implications for US real rates," Bank of England Staff Working Paper series 796, Bank of England.
    3. Ferreira, Thiago R.T. & Shousha, Samer, 2023. "Determinants of global neutral interest rates," Journal of International Economics, Elsevier, vol. 145(C).

  10. David Andolfatto, 2018. "Blockchain: What It Is, What It Does, and Why You Probably Don’t Need One," Review, Federal Reserve Bank of St. Louis, vol. 100(2).

    Cited by:

    1. Chang, Victor & Baudier, Patricia & Zhang, Hui & Xu, Qianwen & Zhang, Jingqi & Arami, Mitra, 2020. "How Blockchain can impact financial services – The overview, challenges and recommendations from expert interviewees," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    2. Andrew Clark & Alexander Mihailov, 2019. "Why private cryptocurrencies cannot serve as international reserves but central bank digital currencies can," Economics Discussion Papers em-dp2019-09, Department of Economics, University of Reading.
    3. Jalali-Naini, Seyed Ahmad Reza & Rabie Hamedani, Hasti, 2016. "Crypto Currencies and the Blockchain Technology: An Evolutionary Review of Money and the Payment Systems," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 11(3), pages 245-265, July.
    4. Hanna Halaburda & Guillaume Haeringer & Joshua S. Gans & Neil Gandal, 2020. "The Microeconomics of Cryptocurrencies," NBER Working Papers 27477, National Bureau of Economic Research, Inc.
    5. A. Mantovi, 2021. "Bitcoin selection rule and foundational game theoretic representation of mining competition," Economics Department Working Papers 2021-EP02, Department of Economics, Parma University (Italy).
    6. Cynthia Weiyi Cai & Rui Xue & Bi Zhou, 2023. "Cryptocurrency puzzles: a comprehensive review and re-introduction," Journal of Accounting Literature, Emerald Group Publishing Limited, vol. 46(1), pages 26-50, June.
    7. Stephen D. Williamson, 2018. "Is Bitcoin a Waste of Resources?," Review, Federal Reserve Bank of St. Louis, vol. 100(2), pages 107-115.

  11. Andolfatto, David & Martin, Fernando M., 2018. "Monetary policy and liquid government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 183-199.
    See citations under working paper version above.
  12. David Andolfatto & Andrew Spewak, 2018. "Does the Yield Curve Really Forecast Recession?," Economic Synopses, Federal Reserve Bank of St. Louis, issue 30, pages 1-2.

    Cited by:

    1. Umar, Zaghum & Iqbal, Najaf & Teplova, Tamara & Tan, Duojiao, 2024. "Dynamic impact of the US yield curve on green bonds: Navigating through recent crises," The North American Journal of Economics and Finance, Elsevier, vol. 74(C).
    2. Guidolin, Massimo & Pedio, Manuela, 2019. "Forecasting and trading monetary policy effects on the riskless yield curve with regime switching Nelson–Siegel models," Journal of Economic Dynamics and Control, Elsevier, vol. 107(C), pages 1-1.
    3. Knut Lehre Seip & Dan Zhang, 2021. "The Yield Curve as a Leading Indicator: Accuracy and Timing of a Parsimonious Forecasting Model," Forecasting, MDPI, vol. 3(2), pages 1-16, May.
    4. Francesco Carli & Pedro Gomis-Porqueras, 2025. "The role of risky debt and safe assets in unregulated financial intermediaries with costly state verification," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 80(1), pages 203-239, August.
    5. Grover,Arti Goswami & Pereira Lopez,Mariana De La Paz, 2023. "Does Informality Depress Investments and Job Recovery ? Firm-Level Evidence from the COVID-19 Crisis in South Asia," Policy Research Working Paper Series 10580, The World Bank.

  13. David Andolfatto, 2018. "Reconciling Orthodox and Heterodox Views on Money and Banking," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 10(4), pages 351-370, November.
    See citations under working paper version above.
  14. Andolfatto, David & Nosal, Ed & Sultanum, Bruno, 2017. "Preventing bank runs," Theoretical Economics, Econometric Society, vol. 12(3), September.
    See citations under working paper version above.
  15. Andolfatto, David & Martin, Fernando M. & Zhang, Shengxing, 2017. "Rehypothecation and liquidity," European Economic Review, Elsevier, vol. 100(C), pages 488-505.
    See citations under working paper version above.
  16. Andolfatto, David & Berentsen, Aleksander & Waller, Christopher, 2016. "Monetary policy with asset-backed money," Journal of Economic Theory, Elsevier, vol. 164(C), pages 166-186.
    See citations under working paper version above.
  17. David Andolfatto, 2015. "A Model of U.S. Monetary Policy Before and After the Great Recession," Review, Federal Reserve Bank of St. Louis, vol. 97(3), pages 233-256.

    Cited by:

    1. David Andolfatto, 2018. "Reconciling Orthodox and Heterodox Views on Money and Banking," Working Papers 2018-27, Federal Reserve Bank of St. Louis.
    2. Lukas Altermatt & Kohei Iwasaki & Randall Wright, 2023. "General Equilibrium with Multiple Liquid Assets," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 267-291, December.
    3. Andolfatto, David & Martin, Fernando M. & Zhang, Shengxing, 2017. "Rehypothecation and liquidity," European Economic Review, Elsevier, vol. 100(C), pages 488-505.
    4. Marieh Azizirad, 2022. "Fisher vs Keynes: Does an Interest Rate Hike Cause Inflation to Increase or Decrease?," Discussion Papers dp22-08, Department of Economics, Simon Fraser University.
    5. Benhima, Kenza & Bacchetta, Philippe & Kalantzis, Yannick, 2016. "Money and Capital in a Persistent Liquidity Trap," CEPR Discussion Papers 11369, Centre for Economic Policy Research.
    6. Lucas Herrenbrueck, 2019. "Interest rates, moneyness, and the Fisher equation," 2019 Meeting Papers 1409, Society for Economic Dynamics.
    7. Jia, Pengfei, 2020. "Negative Interest Rates on Central Bank Digital Currency," MPRA Paper 103828, University Library of Munich, Germany.
    8. Chien-Chiang Wang, 2023. "Asset Market Frictions, Household Heterogeneity, and the Liquidity Theory of the Term Structure," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 67-99, January.

  18. Andolfatto, David & Williamson, Stephen, 2015. "Scarcity of safe assets, inflation, and the policy trap," Journal of Monetary Economics, Elsevier, vol. 73(C), pages 70-92.
    See citations under working paper version above.
  19. Andolfatto, David & Berentsen, Aleksander & Waller, Christopher, 2014. "Optimal disclosure policy and undue diligence," Journal of Economic Theory, Elsevier, vol. 149(C), pages 128-152.
    See citations under working paper version above.
  20. David Andolfatto & Li Li, 2014. "Quantitative easing in Japan: past and present," Economic Synopses, Federal Reserve Bank of St. Louis, issue 1.

    Cited by:

    1. Stefan Angrick & Naoko Nemoto, 2017. "Central Banking below Zero: The Implementation of Negative Interest Rate Policies in Europe and Japan," ADBI Working Papers 740, Asian Development Bank Institute.
    2. Stephanos Papadamou & Nikolaos A. Kyriazis & Panayiotis G. Tzeremes, 2019. "Spillover Effects of US QE and QE Tapering on African and Middle Eastern Stock Indices," JRFM, MDPI, vol. 12(2), pages 1-20, April.
    3. Benjamin Baker & Murat Üngör, 2025. "Effects of Quantitative Easing on Economic Sentiment: Evidence from Three Large Economies," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 67(1), pages 50-83, March.
    4. Stefan Angrick & Naoko Nemoto, 2017. "Central banking below zero: the implementation of negative interest rates in Europe and Japan," Asia Europe Journal, Springer, vol. 15(4), pages 417-443, December.
    5. Troug, Haytem Ahmed & Murray, Matt, 2015. "Quantitative Easing in Japan and the UK An Econometric Evaluation of the Impacts of Unconventional Monetary Policy on the Returns of Aggregate Output and Price Levels," MPRA Paper 68707, University Library of Munich, Germany.
    6. Andreea-Emanuela Drăgoi & Ana-Cristina Bâlgăr, 2016. "Quantitative Easing Limits. Evidence From Japan," Romanian Economic Business Review, Romanian-American University, vol. 11(4), pages 60-70, december.
    7. Hokyung Chung & Jongoh Lee, 2019. "Community Cultural Resources as Sustainable Development Enablers: A Case Study on Bukjeong Village in Korea compared with Naoshima Island in Japan," Sustainability, MDPI, vol. 11(5), pages 1-14, March.
    8. McNelis, Paul D. & Yoshino, Naoyuki, 2016. "Finding stability in a time of prolonged crisis: Unconventional policy rules for Japan," Journal of Financial Stability, Elsevier, vol. 27(C), pages 122-136.

  21. David Andolfatto & Li Li, 2013. "Is the Fed monetizing government debt?," Economic Synopses, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Cem Çakmaklı & Selva Demiralp & Ṣebnem Kalemli-Özcan & Sevcan Yesiltas & Muhammed A. Yildirim, 2020. "COVID-19 and Emerging Markets: A SIR Model, Demand Shocks and Capital Flows," NBER Working Papers 27191, National Bureau of Economic Research, Inc.
    2. Andrea Terzi, 2014. "When Good Intentions Pave the Road to Hell: Monetization Fears and Europe's Narrowing Options," Economics Working Paper Archive wp_810, Levy Economics Institute.
    3. Maxime Menuet & Alexandru Minea & Patrick Villieu, 2016. "Deficit Rules and Monetization in a Growth Model with Multiplicity and Indeterminacy," Working Papers halshs-01252332, HAL.
    4. Jiří Štekláč & Miroslav Titze, 2016. "Udržitelnost dluhového financování státu a její interakce s kvantitativním uvolňováním: případ USA, UK a Japonska v letech 2000-2014 [Government Debt Financing Sustainability and Its Interaction with Quantitative Easing - a Case of US, UK and Japa," Politická ekonomie, Prague University of Economics and Business, vol. 2016(3), pages 293-318.

  22. David Andolfatto & Fernando Martin, 2013. "Information Disclosure and Exchange Media," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 16(3), pages 527-539, July.
    See citations under working paper version above.
  23. Andolfatto, David, 2013. "Incentive-feasible deflation," Journal of Monetary Economics, Elsevier, vol. 60(4), pages 383-390.

    Cited by:

    1. Herrenbrueck, Lucas, 2019. "Frictional asset markets and the liquidity channel of monetary policy," Journal of Economic Theory, Elsevier, vol. 181(C), pages 82-120.
    2. Zhixiu Yu, 2023. "On the Coexistence of Cryptocurrency and Fiat Money," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 49, pages 147-180, July.
    3. Roberto Robatto, 2019. "Online Appendix to "Systemic Banking Panics, Liquidity Risk, and Monetary Policy"," Online Appendices 18-235, Review of Economic Dynamics.
    4. Luis Araujo & Leo Ferraris, 2019. "The Societal Benefits of Money and Interest Bearing Debt," CEIS Research Paper 453, Tor Vergata University, CEIS, revised 19 Feb 2019.
    5. Fernando Martin & Aleksander Berentsen & David Andolfatto, 2016. "Financial Fragility in Monetary Economies," 2016 Meeting Papers 1626, Society for Economic Dynamics.
    6. Athanasios Geromichalos & Lucas Herrenbrueck, 2022. "The Liquidity-Augmented Model of Macroeconomic Aggregates: A New Monetarist DSGE Approach," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 134-167, July.
    7. Berentsen, Aleksander & Huber, Samuel & Marchesiani, Alessandro, 2016. "The societal benefit of a financial transaction tax," European Economic Review, Elsevier, vol. 89(C), pages 303-323.
    8. Francesco Lippi & Stefania Ragni & Nicholas Trachter, 2013. "State dependent monetary policy," Working Paper 13-17, Federal Reserve Bank of Richmond.
    9. Athanasios Geromichalos & Lucas Herrenbrueck, 2017. "The Liquidity-Augmented Model of Macroeconomic Aggregates," Discussion Papers dp17-16, Department of Economics, Simon Fraser University.
    10. Leo Ferraris & Fabrizio Mattesini, 2020. "Money and Collateral," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(7), pages 1617-1644, October.
    11. Liu, Yu-Chen & Li, Yiting, 2024. "Corporate finance, collateralized borrowing, and monetary policy," European Economic Review, Elsevier, vol. 170(C).
    12. Lotz, Sebastien & Zhang, Cathy, 2015. "Money and Credit as Means of Payment: A New Monetarist Approach," MPRA Paper 64535, University Library of Munich, Germany.
    13. Douglas Silveira & Ricardo B. L. M. Oscar, 2024. "Inflation Targeting Regimes in Emerging Market Economies: To Invest or Not to Invest?," Computational Economics, Springer;Society for Computational Economics, vol. 64(4), pages 2097-2129, October.
    14. Rahman, Adib J., 2018. "Deflationary policy under digital and fiat currency competition," Research in Economics, Elsevier, vol. 72(2), pages 171-180.
    15. Luis Araujo & Leo Ferraris, 2021. "Societal Benefit of Multiple Currencies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(8), pages 2201-2214, December.
    16. Chao Gu & Fabrizio Mattesini & Randall Wright, 2016. "Money and Credit Redux," Econometrica, Econometric Society, vol. 84, pages 1-32, January.
    17. van Buggenum, Hugo & Rabinovich, Stanislav, 2023. "Co-essentiality of money and credit: A mechanism-design view," Journal of Economic Theory, Elsevier, vol. 213(C).
    18. Alessandro Mennuni, 2025. "Money and Credit Coexistence, Excess Capacity, and the Size of Monetary Aggregates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(2-3), pages 477-513, March.
    19. Lippi, Francesco & Ragni, Stefania & Trachter, Nicholas, 2015. "Optimal monetary policy with heterogeneous money holdings," Journal of Economic Theory, Elsevier, vol. 159(PA), pages 339-368.
    20. Herrenbrueck, Lucas, 2014. "Quantitative Easing and the Liquidity Channel of Monetary Policy," MPRA Paper 70686, University Library of Munich, Germany, revised 10 Apr 2016.
    21. Rojas Breu, Mariana, 2017. "Debt enforcement and the value of money," Journal of Economic Theory, Elsevier, vol. 168(C), pages 237-251.
    22. David Andolfatto & Aleksander Berentsen & Fernando M. Martin, 2017. "Money, Banking and Financial Markets," Working Papers 2017-23, Federal Reserve Bank of St. Louis.
    23. Roberto Robatto, 2018. "Flight to Liquidity and Systemic Bank Runs," 2018 Meeting Papers 276, Society for Economic Dynamics.
    24. Zhang, Cathy, 2014. "An information-based theory of international currency," Journal of International Economics, Elsevier, vol. 93(2), pages 286-301.
    25. Luis Araujo & Leo Ferraris, 2020. "Money, Bonds, and the Liquidity Trap," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(7), pages 1853-1867, October.
    26. Zannini, Ugo, 2020. "The optimal quantity of money and partially-liquid assets," Journal of Economic Theory, Elsevier, vol. 188(C).
    27. Altermatt, Lukas, 2019. "Savings, asset scarcity, and monetary policy," Journal of Economic Theory, Elsevier, vol. 182(C), pages 329-359.

  24. David Andolfatto, 2012. "Liquidity shocks, real interest rates, and global imbalances," Review, Federal Reserve Bank of St. Louis, vol. 94(May), pages 187-196.

    Cited by:

    1. Joshua R Hendrickson, 2015. "Should the government increase investment in infrastructure improvements when interest rates decline?," Economics Bulletin, AccessEcon, vol. 35(3), pages 1687-1692.
    2. Luis Eduardo Arango & Wilmar Cabrera & Esteban Gómez & Juan Carlos Mendoza, 2013. "Tasa de interés de largo plazo, interés técnico y pasivo pensional," Borradores de Economia 796, Banco de la Republica de Colombia.
    3. Arndt Sven W., 2012. "The "Great Moderation" in a Dual Exchange Rate Regime," Global Economy Journal, De Gruyter, vol. 12(4), pages 1-12, December.
    4. Luis Eduardo Arango & Wilmar Cabrera & Esteban G�mez & Juan Carlos Mendoza, 2013. "Tasa de inter�s de largo plazo, inter�s t�cnico y pasivo pensional," Borradores de Economia 11101, Banco de la Republica.

  25. David Andolfatto, 2011. "A note on the societal benefits of illiquid bonds," Canadian Journal of Economics, Canadian Economics Association, vol. 44(1), pages 133-147, February.

    Cited by:

    1. David Andolfatto & Fernando M. Martin & Shengxing Zhang, 2015. "Rehypothecation and Liquidity," Working Papers 2015-3, Federal Reserve Bank of St. Louis.
    2. Haitao Xiang, 2013. "Optimal monetary policy: distribution efficiency versus production efficiency," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 46(3), pages 836-864, August.
    3. Luis Araujo & Leo Ferraris, 2019. "The Societal Benefits of Money and Interest Bearing Debt," CEIS Research Paper 453, Tor Vergata University, CEIS, revised 19 Feb 2019.
    4. van Buggenum, Hugo, 2021. "Coexistence of Money and Interest-Bearing Bonds," Other publications TiSEM 0bd7c6fc-3779-4bf3-9100-0, Tilburg University, School of Economics and Management.
    5. van Buggenum, Hugo, 2023. "Coexistence of money and interest-bearing bonds," Journal of Economic Dynamics and Control, Elsevier, vol. 153(C).
    6. Benjamin Eden & Maya Eden, 2016. "The Welfare Cost Of Inflation And The Regulations Of Money Substitutes," Vanderbilt University Department of Economics Working Papers 16-00001, Vanderbilt University Department of Economics.
    7. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    8. Uras, Burak & van Buggenum, Hugo, 2020. "Preference Heterogeneity and Optimal Monetary Policy," Other publications TiSEM a1d67a4e-0b27-4246-87af-b, Tilburg University, School of Economics and Management.
    9. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    10. Samuel Huber & Jaehong Kim, 2015. "The role of trading frictions in financial markets," ECON - Working Papers 211, Department of Economics - University of Zurich, revised Jul 2017.
    11. Aleksander Berentsen & Samuel Huber & Alessandro Marchesiani, 2014. "Degreasing The Wheels Of Finance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(3), pages 735-763, August.
    12. Adib Rahman & Liang Wang, 2025. "Central Bank Digital Currency, Tax Evasion, and Monetary Policy with Heterogeneous Agents," Working Papers 202505, University of Hawaii at Manoa, Department of Economics.
    13. Huber, Samuel & Kim, Jaehong, 2017. "On the optimal quantity of liquid bonds," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 184-200.
    14. Luis Araujo & Leo Ferraris, 2020. "Money, Bonds, and the Liquidity Trap," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(7), pages 1853-1867, October.
    15. Andolfatto, David, 2013. "Incentive-feasible deflation," Journal of Monetary Economics, Elsevier, vol. 60(4), pages 383-390.
    16. David Andolfatto & Fernando M. Martin, 2023. "Welfare-enhancing inflation and liquidity premia," Working Papers 2023-001, Federal Reserve Bank of St. Louis, revised Sep 2023.

  26. Andolfatto, David, 2010. "Essential interest-bearing money," Journal of Economic Theory, Elsevier, vol. 145(4), pages 1495-1507, July.
    See citations under working paper version above.
  27. David Andolfatto, 2010. "Fiscal multipliers in war and in peace," Review, Federal Reserve Bank of St. Louis, vol. 92(Mar), pages 121-128.

    Cited by:

    1. David Andolfatto & Marcela M. Williams, 2012. "Many moving parts: the latest look inside the U.S. labor market," Review, Federal Reserve Bank of St. Louis, vol. 94(Mar), pages 135-152.

  28. Andolfatto, David & Nosal, Ed, 2009. "Money, intermediation, and banking," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 289-294, April.
    See citations under working paper version above.
  29. David Andolfatto & Steeve Mongrain & Gordon Myers, 2009. "Rational truth-avoidance and self-esteem," Canadian Journal of Economics, Canadian Economics Association, vol. 42(1), pages 141-154, February.
    See citations under working paper version above.
  30. Andolfatto, David & Hendry, Scott & Moran, Kevin, 2008. "Are inflation expectations rational?," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 406-422, March.
    See citations under working paper version above.
  31. Andolfatto, David & Gervais, Martin, 2008. "Endogenous debt constraints in a life-cycle model with an application to social security," Journal of Economic Dynamics and Control, Elsevier, vol. 32(12), pages 3745-3759, December.

    Cited by:

    1. Makarski, Krzysztof & Tyrowicz, Joanna & Komada, Oliwia, 2022. "Progressing Towards Efficiency: The Role for Labor Tax Progression in Reforming Social Security," IZA Discussion Papers 15100, IZA Network @ LISER.
    2. Xavier Mateos-Planas & Giulio Seccia, 2014. "Consumer default with complete markets: default-based pricing and finite punishment," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(3), pages 549-583, August.
    3. Igor Fedotenkov, 2016. "Population ageing and inflation with endogenous money creation," Bank of Lithuania Working Paper Series 23, Bank of Lithuania.
    4. Yang, Fang, 2013. "Social security reform with impure intergenerational altruism," Journal of Economic Dynamics and Control, Elsevier, vol. 37(1), pages 52-67.
    5. Röhrs, Sigrid & Winter, Christoph, 2015. "Public versus private provision of liquidity: Is there a trade-off?," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 314-339.
    6. Oliwia Komada & Krzysztof Makarski & Joanna Tyrowicz, 2017. "Welfare effects of fiscal policy in reforming the pension system," GRAPE Working Papers 11, GRAPE Group for Research in Applied Economics.
    7. Andersen, Torben & Bhattacharya, Joydeep & Wang, Min, 2025. "Bankruptcy exemptions, borrowing constraints, and old-age pensions," ISU General Staff Papers 202509161945050000, Iowa State University, Department of Economics.
    8. Fedotenkov, Igor, 2015. "Population ageing and prices in an OLG model with money created by credits," MPRA Paper 66056, University Library of Munich, Germany.
    9. Jan Hagemejer & Krzysztof Makarski & Joanna Tyrowicz, 2013. "Efficiency of the pension reform: the welfare effects of various fiscal closures," Working Papers 2013-23, Faculty of Economic Sciences, University of Warsaw.
    10. Ábrahám, Árpád & Cárceles-Poveda, Eva, 2010. "Endogenous trading constraints with incomplete asset markets," Journal of Economic Theory, Elsevier, vol. 145(3), pages 974-1004, May.
    11. Alice Schoonbroodt & Larry E. Jones, 2010. "Baby Busts and Baby Booms: The Fertility Response to Shocks in Dynastic Models," 2010 Meeting Papers 144, Society for Economic Dynamics.

  32. Andolfatto, David & Nosal, Ed, 2008. "Bank incentives, contract design and bank runs," Journal of Economic Theory, Elsevier, vol. 142(1), pages 28-47, September.
    See citations under working paper version above.
  33. Andolfatto, David & Nosal, Ed & Wallace, Neil, 2007. "The role of independence in the Green-Lin Diamond-Dybvig model," Journal of Economic Theory, Elsevier, vol. 137(1), pages 709-715, November.
    See citations under working paper version above.
  34. David Andolfatto & Martin Gervais, 2006. "Human Capital Investment and Debt Constraints," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 9(1), pages 52-67, January.
    See citations under working paper version above.
  35. Dave Andolfatto & Scott Hendry & Kevin Moran, 2004. "Labour markets, liquidity, and monetary policy regimes," Canadian Journal of Economics, Canadian Economics Association, vol. 37(2), pages 392-420, May.
    See citations under working paper version above.
  36. Andolfatto, David, 2003. "Monetary Implications of the Hayashi-Prescott Hypothesis for Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 21(4), pages 1-20, December.
    See citations under working paper version above.
  37. David Andolfatto & Paul Gomme, 2003. "Monetary Policy Regimes and Beliefs," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(1), pages 1-30, February.
    See citations under working paper version above.
  38. David Andolfatto, 2002. "A Theory of Inalienable Property Rights," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 382-393, April.
    See citations under working paper version above.
  39. David Andolfatto & Eric Smith, 2001. "Distributional dynamics following a technological revolution," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 739-759, August.

    Cited by:

    1. Charlot, Olivier & Decreuse, Bruno, 2005. "Self-selection in education with matching frictions," Labour Economics, Elsevier, vol. 12(2), pages 251-267, April.
    2. Lance Lochner & Youngmin Park & Youngki Shin, 2017. "The Evolution of Unobserved Skill Returns in the U.S.: A New Approach Using Panel Data," Staff Working Papers 17-61, Bank of Canada.
    3. Patrizia Ordine & Giuseppe Rose, 2009. "Overeducation and Instructional Quality: A Theoretical Model and Some Facts," Journal of Human Capital, University of Chicago Press, vol. 3(1), pages 73-105.

  40. David Andolfatto & Ed Nosal, 2001. "A simple model of money and banking," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 20-28.

    Cited by:

    1. David Andolfatto & Ed Nosal, 2003. "A Theory of Money and Banking," Macroeconomics 0310003, University Library of Munich, Germany.
    2. Amy Hongfei Sun, 2007. "Banking, Inside Money And Outside Money," Working Paper 1146, Economics Department, Queen's University.
    3. Igor Fedotenkov, 2016. "Population ageing and inflation with endogenous money creation," Bank of Lithuania Working Paper Series 23, Bank of Lithuania.
    4. Junfeng Qiu, 2011. "Bank money, aggregate liquidity, and asset prices," Annals of Economics and Finance, Society for AEF, vol. 12(2), pages 295-346, November.
    5. Fedotenkov, Igor, 2015. "Population ageing and prices in an OLG model with money created by credits," MPRA Paper 66056, University Library of Munich, Germany.
    6. Paul E. Orzechowski, 2019. "The bank capital channel and bank profits," Review of Financial Economics, John Wiley & Sons, vol. 37(3), pages 372-388, July.

  41. David Andolfattio & Paul Gomme & Paul A. Storer, 1998. "US Labour Market Policy and the Canada-US Unemployment Rate Gap," Canadian Public Policy, University of Toronto Press, vol. 24(s1), pages 210-232, February.
    See citations under working paper version above.
  42. David Andolfatto & Paul Gomme, 1998. "Unemployment and economic welfare," Economic Review, Federal Reserve Bank of Cleveland, vol. 34(Q III), pages 25-34.
    See citations under working paper version above.
  43. David Andolfatto & Glenn MacDonald, 1998. "Technology Diffusion and Aggregate Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 338-370, April.
    See citations under working paper version above.
  44. David Andolfatto, 1997. "Evidence and Theory on the Cyclical Asymmetry in Unemployment Rate Fluctuations," Canadian Journal of Economics, Canadian Economics Association, vol. 30(3), pages 709-721, August.

    Cited by:

    1. Gunnar Bårdsen & Stan Hurn & Zoë McHugh, 2010. "Asymmetric unemployment rate dynamics in Australia," CREATES Research Papers 2010-02, Department of Economics and Business Economics, Aarhus University.
    2. Domenico Ferraro & Giuseppe Fiori, 2023. "Search Frictions, Labor Supply, and the Asymmetric Business Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(1), pages 5-42, February.
    3. Anushka Mitra, 2025. "Imperfect Information and Slow Recoveries in the Labor Market," International Finance Discussion Papers 1423, Board of Governors of the Federal Reserve System (U.S.).
    4. Congressional Budget Office, 2022. "A Markov-Switching Model of the Unemployment Rate: Working Paper 2022-05," Working Papers 57582, Congressional Budget Office.
    5. Domenico Ferraro, 2023. "Fast Rises, Slow Declines: Asymmetric Unemployment Dynamics with Matching Frictions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 349-378, March.
    6. Boriss Siliverstovs, 2005. "The Bi-parameter Smooth Transition Autoregressive model," Economics Bulletin, AccessEcon, vol. 3(23), pages 1-11.
    7. Kurt Graden Lunsford, 2023. "Business Cycles and Low-Frequency Fluctuations in the US Unemployment Rate," Working Papers 23-19, Federal Reserve Bank of Cleveland.
    8. Philip M. Bodman, 1998. "Asymmetry and Duration Dependence in Australian GDP and Unemployment," The Economic Record, The Economic Society of Australia, vol. 74(227), pages 399-411, December.
    9. Bernstein, Joshua & Richter, Alexander W. & Throckmorton, Nathaniel A., 2021. "Cyclical net entry and exit," European Economic Review, Elsevier, vol. 136(C).
    10. Domenico Ferraro, 2014. "The Asymmetric Cyclical Behavior of the U.S. Labor Market," 2014 Meeting Papers 1104, Society for Economic Dynamics.
    11. Botelho, Vasco & Foroni, Claudia & Renzetti, Andrea, 2024. "Labour at risk," European Economic Review, Elsevier, vol. 170(C).
    12. Ivan D. Trofimov, 2024. "A Time Series Analysis of Corporate Profit Rates in Selected Developed Economies: Asymmetries, Non-linearity and Mean Reversion," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 22(2), pages 303-338, June.
    13. Domenico Ferraro & Giuseppe Fiori, 2018. "The Scarring Effect of Asymmetric Business Cycles," 2018 Meeting Papers 283, Society for Economic Dynamics.
    14. Robert E. Hall & Marianna Kudlyak, 2021. "Why Has the US Economy Recovered So Consistently from Every Recession in the Past 70 Years?," NBER Chapters, in: NBER Macroeconomics Annual 2021, volume 36, pages 1-55, National Bureau of Economic Research, Inc.
    15. Botelho, Vasco & Foroni, Claudia & Renzetti, Andrea, 2023. "Labour at risk," Working Paper Series 2840, European Central Bank.

  45. David Andolfatto & Ed Nosal, 1997. "Optimal Team Contracts," Canadian Journal of Economics, Canadian Economics Association, vol. 30(2), pages 385-396, May.
    See citations under working paper version above.
  46. Andolfatto, David & Gomme, Paul, 1996. "Unemployment insurance and labor-market activity in Canada," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 44(1), pages 47-82, June.

    Cited by:

    1. Michael Elsby & Bart Hobijn & Ayşegül Şahin, 2013. "On the Importance of the Participation Margin for Market Fluctuations," Working Paper Series 2013-05, Federal Reserve Bank of San Francisco.
    2. Richard Rogerson, 1997. "Theory Ahead of Language in the Economics of Unemployment," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 73-92, Winter.
    3. Lkhagvasuren, Damba, 2012. "Big locational unemployment differences despite high labor mobility," Journal of Monetary Economics, Elsevier, vol. 59(8), pages 798-814.
    4. David Andolfatto, 2007. "Search Models of Unemployment," Discussion Papers dp07-01, Department of Economics, Simon Fraser University.
    5. Fuller, David L., 2014. "Adverse selection and moral hazard: Quantitative implications for unemployment insurance," Journal of Monetary Economics, Elsevier, vol. 62(C), pages 108-122.
    6. Daron Acemoglu & Robert Shimer, 1998. "Efficient Unemployment Insurance," NBER Working Papers 6686, National Bureau of Economic Research, Inc.
    7. Joao Gomes & Jeremy Greenwood & Sergio Rebelo, 1997. "Equilibrium Unemployment," NBER Working Papers 5922, National Bureau of Economic Research, Inc.
    8. Yongsung Chang & Sun-Bin Kim, 2003. "From individual to aggregate labor supply : a quantitative analysis based on a heterogeneous agent macroeconomy," Working Paper 03-05, Federal Reserve Bank of Richmond.
    9. Miquel Faig, 2008. "Labor Market Cycles and Unemployment Insurance Eligibility," 2008 Meeting Papers 183, Society for Economic Dynamics.
    10. Ramon Marimon & Fabrizio Zilibotti, 1997. "Unemployment vs. Mismatch of Talents: Reconsidering Unemployment Benefits," NBER Working Papers 6038, National Bureau of Economic Research, Inc.
    11. Pries, Michael & Rogerson, Richard, 2009. "Search frictions and labor market participation," European Economic Review, Elsevier, vol. 53(5), pages 568-587, July.
    12. David Andolfatto & James Redekop, 1998. "Redistribution Policy in a Model with Heterogeneous Time Preference," Cahiers de recherche CREFE / CREFE Working Papers 66, CREFE, Université du Québec à Montréal.
    13. Stephane Pallage & Christian Zimmermann, 2004. "On Voters' Attitudes Towards Unemployment Insurance Subsidies across Regions: A Canadian Simulation," Working papers 2004-34, University of Connecticut, Department of Economics.
    14. Krusell, Per & Mukoyama, Toshihiko & Rogerson, Richard & Sahin, Aysegül, 2011. "A three state model of worker flows in general equilibrium," Journal of Economic Theory, Elsevier, vol. 146(3), pages 1107-1133, May.
    15. Greenwood, Jeremy & Guner, Nezih, 2008. "Social Change," IZA Discussion Papers 3485, IZA Network @ LISER.
    16. World Bank, 2001. "Poverty and Income Distribution in a High Growth Economy : The Case of Chile 1987-98, Volume 2. Background Papers," World Bank Publications - Reports 15469, The World Bank Group.
    17. David Andolfatto & Paul Gomme, 1998. "Unemployment and economic welfare," Economic Review, Federal Reserve Bank of Cleveland, vol. 34(Q III), pages 25-34.
    18. Greenwood, Jeremy & Guner, Nezih, 2007. "Marriage and Divorce since World War II: Analyzing the Role of Technological Progress on the Formation of Households," CEPR Discussion Papers 6391, Centre for Economic Policy Research.
    19. Young, Eric R., 2004. "Unemployment insurance and capital accumulation," Journal of Monetary Economics, Elsevier, vol. 51(8), pages 1683-1710, November.
    20. Guler, Bulent & Guvenen, Fatih & Violante, Giovanni L., 2012. "Joint-search theory: New opportunities and new frictions," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 352-369.
    21. Jeremy Greenwood & Nezih Guner, 2005. "Social Change: The Sexual Revolution," Economie d'Avant Garde Research Reports 9, Economie d'Avant Garde, revised Apr 2009.
    22. Christopher A. Pissarides, 2010. "Why Do Firms Offer ‘Employment Protection’?," Economica, London School of Economics and Political Science, vol. 77(308), pages 613-636, October.
    23. Stephane Pallage & Christian Zimmermann, 1998. "Voting on Unemployment Insurance Generosity," Cahiers de recherche CREFE / CREFE Working Papers 64, CREFE, Université du Québec à Montréal.
    24. Samuel Danthine & Michel De Vroey, 2016. "The Integration of Search in Macroeconomics: Interviews with David Andolfatto, Peter Diamond and Monika Merz," LIDAM Discussion Papers IRES 2016013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    25. Pissarides, Christopher, 2002. "Consumption and savings with unemployment risk: implications for optimal employment contracts," LSE Research Online Documents on Economics 2211, London School of Economics and Political Science, LSE Library.
    26. David L. Fuller & Marianna Kudlyak & Damba Lkhagvasuren, 2013. "Productivity insurance: the role of unemployment benefits in a multi-sector model," Working Paper 13-11, Federal Reserve Bank of Richmond.
    27. Fabre, Alice & Pallage, Stéphane, 2015. "Child labor, idiosyncratic shocks, and social policy," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 394-411.
    28. Tüzemen, Didem, 2017. "Labor market dynamics with endogenous labor force participation and on-the-job search," Journal of Economic Dynamics and Control, Elsevier, vol. 75(C), pages 28-51.
    29. Zhang Min, 2008. "Cyclical Behavior of Unemployment and Job Vacancies: A Comparison between Canada and the United States," The B.E. Journal of Macroeconomics, De Gruyter, vol. 8(1), pages 1-37, October.
    30. Toshihiko Mukoyama, 2010. "Understanding the Welfare Effects of Unemployment Insurance Policy in General Equilibrium," 2010 Meeting Papers 286, Society for Economic Dynamics.
    31. Morten O. Ravn, 2006. "The Consumption-Tightness Puzzle," NBER Working Papers 12421, National Bureau of Economic Research, Inc.
    32. Damba Lkhagvasuren, 2005. "Big Locational Differences in Unemployment Despite High Labor Mobility," Working Papers 12002, Concordia University, Department of Economics, revised Feb 2012.
    33. Veracierto, Marcelo, 2008. "On the cyclical behavior of employment, unemployment and labor force participation," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1143-1157, September.
    34. Nikolaos Kokonas & Paulo Santos Monteiro, 2023. "Self-fulfilling labor wedge fluctuations and unemployment insurance," Discussion Papers 2313, Centre for Macroeconomics (CFM).
    35. Chen, Been-Lon & Hsu, Mei & Lai, Chih-Fang, 2016. "Relation between growth and unemployment in a model with labor-force participation and adverse labor institutions," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 273-292.
    36. Didem Tuzemen, 2012. "Labor market dynamics with endogenous labor force participation and on-the-job search," Research Working Paper RWP 12-07, Federal Reserve Bank of Kansas City.
    37. Jeremy Greenwood & Nezih Guner & John Knowles, 2002. "More on Marriage, Fertility and the Distribution of Income," RCER Working Papers 489, University of Rochester - Center for Economic Research (RCER).
    38. Min Zhang, 2010. "Unemployment Insurance Eligibility, Moral Hazard and Equilibrium Unemployment," Working Papers tecipa-405, University of Toronto, Department of Economics.
    39. Chen, Been-Lon & Lai, Chih-Fang, 2015. "Effects of labor taxes and unemployment compensation on labor supply in a search model with an endogenous labor force," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 300-317.
    40. Castro-Fernandez, Rodriguo & Wodon, Quentin, 2002. "Protecting the Unemployed in Chile: From State Assistance to Individual Insurance?," MPRA Paper 15416, University Library of Munich, Germany.
    41. Toshihiko Mukoyama & Richard Rogerson & Aysegul Sahin & Per Krusell, 2009. "Labor supply in a frictional labor market," 2009 Meeting Papers 54, Society for Economic Dynamics.
    42. Miquel Faig & Min Zhang, 2012. "Labor Market Cycles, Unemployment Insurance Eligibility, and Moral Hazard," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(1), pages 41-56, January.
    43. Chéron, A. & Langot, François, 1999. "Labor-market search, welfare ranking and the real wage over the business cycle," CEPREMAP Working Papers (Couverture Orange) 9902, CEPREMAP.
    44. Stéphane Pallage & Christian Zimmermann, 1999. "Assurance chômage et sociétés," Cahiers de recherche du Département des sciences économiques, UQAM 9904, Université du Québec à Montréal, Département des sciences économiques.
    45. Pissarides, Christopher A., 2001. "Employment protection," Labour Economics, Elsevier, vol. 8(2), pages 131-159, May.
    46. Pissarides, Christopher, 2002. "Consumption and Savings with Unemployment Risk: Implications for Employment Contracts," CEPR Discussion Papers 3367, Centre for Economic Policy Research.
    47. Eswar Prasad & Alun Thomas, 1998. "Labour Market Adjustment in Canada and the United States," Canadian Public Policy, University of Toronto Press, vol. 24(s1), pages 121-137, February.

  47. Andolfatto, David, 1996. "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, vol. 86(1), pages 112-132, March.

    Cited by:

    1. Hairault, Jean-Olivier & Langot, Francois & Sopraseuth, Thepthida, 2019. "Unemployment fluctuations over the life cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 334-352.
    2. Andrei Zlate & Federico Mandelman, 2013. "Offshoring, Low-skilled Immigration and Labor Market Polarization," 2013 Meeting Papers 1073, Society for Economic Dynamics.
    3. Martin Bodenstein & Gunes Kamber & Christoph Thoenissen, 2016. "Commodity prices and labour market dynamics in small open economies," Working Papers 2016005, The University of Sheffield, Department of Economics.
    4. Julien Albertini & Xavier Fairise, 2009. "Search frictions, real wage rigidities and theoptimal design of unemployment insurance: a study in a DSGE framework," Documents de recherche 09-03, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    5. Richard Rogerson, 1997. "Theory Ahead of Language in the Economics of Unemployment," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 73-92, Winter.
    6. Ken-ichi Hashimoto & Yoshiyasu Ono & Matthias Schlegl, 2020. "Structural Unemployment, Underemployment, and Secular Stagnation," ISER Discussion Paper 1088rr, Institute of Social and Economic Research, The University of Osaka, revised Jul 2022.
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Software components

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Books

  1. David Andolfatto, 2005. "Macroeconomic Theory and Policy," Online economics textbooks, SUNY-Oswego, Department of Economics, number prin14.
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