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Ricardo Reis

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. Vayanos, Dimitri & Brunnermeier, Markus & Langfield, Sam & Pagano, Marco & Van Nieuwerburgh, Stijn, 2016. "ESBies: Safety in the Tranches," CEPR Discussion Papers 11537, Centre for Economic Policy Research.
    • Markus K. Brunnermeier & Sam Langfield & Marco Pagano & Ricardo Reis & Stijn Van Nieuwerburgh & Dimitri Vayanos, 2017. "ESBies: safety in the tranches," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 32(90), pages 175-219.

    Mentioned in:

    1. To Form a More Perfect Union
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2018-05-28 11:38:54

    Mentioned in:

    1. Dos determinantes de la inflación
      by Juan Herreño in Foco Económico on 2021-09-08 17:20:15
  2. Ricardo Reis, 2017. "Is Something Really Wrong with Macroeconomics?," CESifo Working Paper Series 6446, CESifo.

    Mentioned in:

    1. Is Something Really Wrong with Macroeconomics?
      by Christian Zimmermann in NEP-DGE blog on 2017-11-30 03:07:23
  3. Jens Hilscher & Alon Raviv & Ricardo Reis, 2014. "Inflating Away the Public Debt? An Empirical Assessment," NBER Working Papers 20339, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. The Euro Area's Debt Hangover
      by Stephen G. Cecchetti in Huffington Post Business on 2015-05-19 18:57:53
    2. The euro area's debt hangover
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2015-04-20 18:22:33
  4. N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Harvard Institute of Economic Research Working Papers 1922, Harvard - Institute of Economic Research.

    Mentioned in:

    1. Sarah Sloat: What is Cognitive Economics? Understanding the World Through New Types of Data
      by ? in Confessions of a Supply-Side Liberal on 2016-04-13 05:30:12
    2. Trillions and Trillions: Getting Used to Balance Sheet Monetary Policy
      by in Confessions of a Supply-Side Liberal on 2012-06-03 18:50:27
    3. On the Great Recession
      by ? in Confessions of a Supply-Side Liberal on 2014-02-24 08:00:00
  5. Saleem Bahaj & Ricardo Reis, 2018. "Central Bank Swap Lines," Discussion Papers 1816, Centre for Macroeconomics (CFM).

    Mentioned in:

    1. Highlights from the Fourth Bi-annual Global Research Forum on International Macroeconomics and Finance
      by Blog Author in Liberty Street Economics on 2019-01-11 12:00:00
  6. Author Profile
    1. Are The Top Young Economists Largely European?
      by David Zaring in The conglomerate on 2010-08-11 14:55:00
    2. Peer Group as of April 2015
      by Matthew Kahn in Environmental and Urban Economics on 2015-05-03 19:55:00
    3. REPEC Issues a Monthly "Report Card" for Academic Economists
      by Matthew Kahn in Environmental and Urban Economics on 2016-12-05 03:41:00

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography of Economics:
  1. Ricardo Reis & Mark W. Watson, 2010. "Relative Goods' Prices, Pure Inflation, and the Phillips Correlation," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(3), pages 128-157, July.

    Mentioned in:

    1. > Econometrics > Time Series Models > Dynamic Factor Models

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Alan S. Blinder & Ricardo Reis, 2005. "Understanding the Greenspan standard," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 11-96.

    Mentioned in:

    1. Alan Greenspan in Wikipedia (Malay)
  2. Ricardo Reis & Mark W. Watson, 2010. "Relative Goods' Prices, Pure Inflation, and the Phillips Correlation," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(3), pages 128-157, July.

    Mentioned in:

    1. Relative Goods' Prices, Pure Inflation, and the Phillips Correlation (AEJ:MA 2010) in ReplicationWiki ()
  3. Ricardo Reis, 2009. "Optimal Monetary Policy Rules in an Estimated Sticky-Information Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(2), pages 1-28, July.

    Mentioned in:

    1. Optimal Monetary Policy Rules in an Estimated Sticky-Information Model (AEJ:MA 2009) in ReplicationWiki ()

Working papers

  1. Jens Hilscher & Alon Raviv & Ricardo Reis, 2024. "How likely is an inflation disaster?," Discussion Papers 2437, Centre for Macroeconomics (CFM).

    Cited by:

    1. Erwan Gautier & Frédérique Savignac & Olivier Coibion, 2025. "Firms’ Inflation and Wage Expectations during the Inflation Surge," Working papers 995, Banque de France.
    2. Ghaderi, Mohammad & Seo, Sang Byung & Shaliastovich, Ivan, 2026. "Learning and subjective beliefs about good and bad inflation ranges," SAFE Working Paper Series 478, Leibniz Institute for Financial Research SAFE.

  2. Salomé Fofana & Paula Patzelt & Ricardo Reis, 2024. "Household Disagreement about Expected Inflation," Discussion Papers 2418, Centre for Macroeconomics (CFM).

    Cited by:

    1. Bullard, James & Grimaud, Alex & Salle, Isabelle & Vermandel, Gauthier, 2026. "Soft landing and inflation scares," Journal of Monetary Economics, Elsevier, vol. 157(C).
    2. Hie Joo Ahn & Leland E. Farmer, 2024. "Disagreement About the Term Structure of Inflation Expectations," Finance and Economics Discussion Series 2024-084, Board of Governors of the Federal Reserve System (U.S.).
    3. Tufan Ekici & Martin Geiger & Marios Zachariadis, 2024. "Understanding Expectations Formation for Hand-to-Mouth Households: Lessons from the Financial Crisis," University of Cyprus Working Papers in Economics 05-2024, University of Cyprus Department of Economics, revised 05 Nov 2024.
    4. Checherita-Westphal, Cristina & Pesso, Tom, 2024. "Fiscal policy and inflation: accounting for non-linearities in government debt," Working Paper Series 2996, European Central Bank.
    5. Sarantis Tsiaplias, 2024. "Inflation as a 'bad', heuristics and aggregate shocks: New evidence on expectation formation," Melbourne Institute Working Paper Series wp2024n03, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.

  3. Paula Patzelt & Ricardo Reis, 2024. "Estimating the rise in expected inflation from higher energy prices," Discussion Papers 2411, Centre for Macroeconomics (CFM).

    Cited by:

    1. Vedanta Dhamija & Ricardo Nunes & Roshni Tara, 2025. "House Price Expectations and Inflation Expectations: Evidence from Survey Data," Economics Series Working Papers 1069, University of Oxford, Department of Economics.
    2. Takuji Kondo & Yuki Takahashi & Kosuke Takatomi, 2026. "Households' Wage Growth Expectations Formation: The Linkage with Price Inflation Expectations," Bank of Japan Working Paper Series 26-E-9, Bank of Japan.
    3. Hack, Lukas & Rostam-Afschar, Davud, 2025. "Understanding Firm Dynamics with Daily Data," IZA Discussion Papers 17882, IZA Network @ LISER.
    4. Bonomo, Marco & Carvalho, Carlos & Eusepi, Stefano & Perrupato, Marina & Abib, Daniel & Ayres, João & Matos, Silvia, 2024. "Abrupt monetary policy change and unanchoring of inflation expectations," Journal of Monetary Economics, Elsevier, vol. 145(S).
    5. Harold Glenn A. Valera & Cymon Kayle Lubangco & Mark J. Holmes, 2026. "Does repeated cross-section data help explain consumer inflation expectations revisions?," Working Papers in Economics 26/03, University of Waikato.
    6. Lorenzo Mori & Gert Peersman, 2024. "Estimating the Macroeconomic Effects of Oil Supply News," CESifo Working Paper Series 11532, CESifo.
    7. Kilian, Lutz, 2024. "How to construct monthly VAR proxies based on daily surprises in futures markets," Journal of Economic Dynamics and Control, Elsevier, vol. 168(C).

  4. Laura Castillo-Martinez & Ricardo Reis, 2024. "How do central banks control inflation? A guide for the perplexed," Discussion Papers 2433, Centre for Macroeconomics (CFM).

    Cited by:

    1. Wataru Hagio & Daisuke Ikeda & Satoshi Kobayashi & Nao Sudo, 2024. "Price Dynamics and Monetary Policy Challenges -- Lessons Learned and Going Forward -- Summary of the 2024 BOJ-IMES Conference," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 42, pages 1-32, November.
    2. Alberto Americo & Douglas Kiarelly Godoy de Araujo & Johannes Damp & Sjur Nilsen & Daniel Rees & Rafael Schmidt & Christian Schmieder, 2025. "Inflation cycles: evidence from international data," BIS Working Papers 1264, Bank for International Settlements.

  5. Saleem Bahaj & Ricardo Reis, 2024. "The anatomy of a peg: lessons from China’s parallel currencies," Discussion Papers 2401, Centre for Macroeconomics (CFM).

    Cited by:

    1. Chiara Alvisi, 2025. "Cooperation, competition, or conflict? A review of the multiple international sides of money," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 9(2), pages 23-28, December.

  6. Saleem Bahaj & Robert Czech & Sitong Ding & Ricardo Reis, 2023. "The market for inflation risk," Bank of England Staff Working Paper series 1028, Bank of England.

    Cited by:

    1. Rompolis, Leonidas S., 2025. "Quantitative easing, uncertainty, and risk aversion," Journal of Banking & Finance, Elsevier, vol. 177(C).
    2. Isaac Baley & Javier Turén, 2025. "Lumpy Forecasts," Working Papers 1476, Barcelona School of Economics.
    3. Xavier Gabaix & Ralph S J Koijen & Robert Richmond & Motohiro Yogo, 2024. "Artificial intelligence and big holdings data: Opportunities for central banks," BIS Working Papers 1222, Bank for International Settlements.
    4. Braun, Robin & Miranda-Agrippino, Silvia & Saha, Tuli, 2025. "Measuring monetary policy in the UK: The UK monetary policy event-study database," Journal of Monetary Economics, Elsevier, vol. 149(C).
    5. Rodrigo Barria & Gabor Pinter, 2023. "Mispricing in inflation markets," Bank of England Staff Working Paper series 1034, Bank of England.

  7. Reis, Ricardo, 2023. "What can keep euro area inflation high?," CEPR Discussion Papers 18375, Centre for Economic Policy Research.

    Cited by:

    1. Nikou, Vasilis, 2025. "From exit to exposure: Gas import shocks and macroeconomic asymmetries in the wake of Europe's coal phaseout," Energy, Elsevier, vol. 335(C).
    2. Boeck, Maximilian & Zörner, Thomas O., 2025. "Natural gas prices, inflation expectations, and the pass-through to euro area inflation," Energy Economics, Elsevier, vol. 141(C).
    3. Gobbi, Lucio & Mazzocchi, Ronny & Tamborini, Roberto, 2025. "Inflation shocks and the New Keynesian model: When should central banks fear inflation expectations?," The North American Journal of Economics and Finance, Elsevier, vol. 80(C).
    4. Ferreira, Vicente & Abreu, Alexandre & Louçã, Francisco, 2025. "The rise and fall of inflation in the Euro Area (2021-2024): A heterodox perspective," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 103-110.

  8. Ricardo Reis, 2023. "Four mistakes in the use of measures of expected inflation," Discussion Papers 2302, Centre for Macroeconomics (CFM).

    Cited by:

    1. Ehrmann, Michael, 2024. "Trust in central banks," Working Paper Series 3006, European Central Bank.
    2. Hogen, Yoshihiko & Okuma, Ryoichi, 2025. "The anchoring of inflation expectations in Japan: A learning-approach perspective," Japan and the World Economy, Elsevier, vol. 73(C).
    3. Ivan Yotzov & Nicholas Bloom & Philip Bunn & Paul Mizen & Gregory Thwaites, 2024. "The Speed of Firm Response to Inflation," Discussion Papers 2425, Centre for Macroeconomics (CFM).
    4. Philippe Andrade & Michael Wicklein, 2025. "Why Have Inflation Expectations Surged Recently? A Historical Perspective," Current Policy Perspectives 25-14, Federal Reserve Bank of Boston.
    5. Neil Mehrotra & Hyunseung Oh & Julio L. Ortiz, 2025. "Retail inventories and inflation dynamics: The price margin channel," International Finance Discussion Papers 1424, Board of Governors of the Federal Reserve System (U.S.).
    6. Nickel, Christiane & Kilponen, Juha & Moral-Benito, Enrique & Koester, Gerrit & Ciccarelli, Matteo & Enders, Almira & Holton, Sarah & Landau, Bettina & Venditti, Fabrizio & Bobeica, Elena & Brand, Cla, 2025. "A strategic view on the economic and inflation environment in the euro area," Occasional Paper Series 371, European Central Bank.

  9. Bahaj, Saleem & Reis, Ricardo, 2022. "The economics of liquidity lines between central banks," CEPR Discussion Papers 17122, Centre for Economic Policy Research.

    Cited by:

    1. Liu, Zhuqing & Zhang, Junmei, 2025. "Central bank swap arrangements, exchange rate volatility, and China’s exports," Journal of Multinational Financial Management, Elsevier, vol. 79(C).
    2. Willem H Buiter, 2023. "The widespread failure of central banks to control inflation," Economic Affairs, Wiley Blackwell, vol. 43(1), pages 2-31, February.
    3. Yu, Ziliang & Liu, Xiaomeng & Liu, Zhuqing & Li, Yang, 2023. "Central bank swap arrangements and exchange rate volatility: Evidence from China," Emerging Markets Review, Elsevier, vol. 56(C).

  10. Bahaj, Saleem & Reis, Ricardo, 2022. "Central bank swap lines: evidence on the effects of the lender of last resort," LSE Research Online Documents on Economics 112601, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Hermes, Felix & Schmeling, Maik & Schrimpf, Andreas, 2025. "The international dimension of repo: five new facts," Working Paper Series 3065, European Central Bank.
    2. Lu, Dong & Qian, Xingwang & Zhu, Wenyu, 2024. "External debt currency denomination and the currency composition of foreign exchange reserves," Pacific-Basin Finance Journal, Elsevier, vol. 86(C).
    3. Horn,Sebastian Andreas & Parks,Bradley Christopher & Reinhart,Carmen M. & Trebesch,Christoph, 2023. "China as an International Lender of Last Resort," Policy Research Working Paper Series 10380, The World Bank.
    4. Andrew Bailey & Jonathan Bridges & Richard Harrison & Josh Jones & Aakash Mankodi, 2025. "The Central Bank Balance Sheet As a Policy Tool: Lessons From the Bank of England's Experience," Journal of Financial Services Research, Springer;Western Finance Association, vol. 67(1), pages 5-30, April.
    5. Della Corte, Pasquale & Cenedese, Gino & Wang, Tianyu, 2020. "Currency Mispricing and Dealer Balance Sheets," CEPR Discussion Papers 15569, Centre for Economic Policy Research.
    6. Yasin Mimir & Yasin Kürşat Önder & Jose Villegas, 2026. "Sovereign Debt and Grace Periods," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 26/1137, Ghent University, Faculty of Economics and Business Administration.
    7. Kubitza, Christian & Sigaux, Jean-David & Vandeweyer, Quentin, 2025. "The implications of CIP deviations for international capital flows," Working Paper Series 3017, European Central Bank.
    8. Koyama, Kentaro & Takeda, Sumihiro, 2023. "Currency basis term structure, cross-border investment flow, and central bank currency swap agreement," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 470-482.
    9. Clayton, Christopher & Santos, Amanda Dos & Maggiori, Matteo & Schreger, Jesse, 2022. "Internationalizing Like China," SocArXiv r2msa, Center for Open Science.
    10. Tang, Lingxiao & Li, Kenan & Ouyang, Yao, 2026. "Does the People's Bank of China's currency swap have macroeconomic stability effects?," Economic Modelling, Elsevier, vol. 155(C).
    11. Marco Garofalo & Giovanni Rosso & Roger Vicquery, 2024. "Dominant Currency Pricing Transition," Discussion Papers 2419, Centre for Macroeconomics (CFM).
    12. Michael David Bordo, 2021. "Monetary Policy Cooperation/Coordination and Global Financial Crises in Historical Perspective," Open Economies Review, Springer, vol. 32(3), pages 587-611, July.
    13. Mohr, Cathrin & Trebesch, Christoph, 2025. "Geoeconomics," Kiel Working Papers 2279, Kiel Institute for the World Economy.
    14. Philippe Bacchetta & J. Scott Davis & Eric Van Wincoop, 2025. "Dollar Funding Fragility and Non-U.S. Global Banks," Working Papers 2531, Federal Reserve Bank of Dallas.
    15. Saleem Bahaj & Marie Fuchs & Ricardo Reis, 2024. "The Global Network of Liquidity Lines," Discussion Papers 2423, Centre for Macroeconomics (CFM).
    16. Yu, Ziliang & Liu, Xiaomeng & Liu, Zhuqing & Li, Yang, 2023. "Central bank swap arrangements and exchange rate volatility: Evidence from China," Emerging Markets Review, Elsevier, vol. 56(C).
    17. Tang, Lingxiao & Li, Kenan & Xu, Tao, 2025. "Do the People's Bank of China's currency swaps cause moral hazard?," Finance Research Letters, Elsevier, vol. 77(C).
    18. Barry Eichengreen & Poonam Gupta, 2023. "Priorities for the G20 Finance Track," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 17(1-2), pages 7-58, February.
    19. Pierre Olivier Gourinchas, 2023. "International Macroeconomics: From the Great Financial Crisis to COVID-19, and Beyond," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 1-34, March.
    20. Richtmann, Mathis L. & Steininger, Lea, 2023. "From Bazooka to Backstop: The Political Economy of Standing Swap Facilities," Department of Economics Working Paper Series 334, WU Vienna University of Economics and Business.
    21. Tao Liu & Dong Lu & Liang Wang, 2023. "Hegemony or Harmony? A Unified Framework for the International Monetary System," Working Papers 202305, University of Hawaii at Manoa, Department of Economics.
    22. Joshua Aizenman & Jamel Saadaoui, 2026. "The Cross-Country Resilience of Central, Eastern, and Southeastern European Countries during ECB Monetary Cycles," Open Economies Review, Springer, vol. 37(2), pages 521-555, April.
    23. Tao Liu & Dong Lu & Liang Wang, 2025. "Hegemony or Harmony? A Unified Framework for the International Monetary System," Working Papers 202504, University of Hawaii at Manoa, Department of Economics.
    24. Lim, Jamus Jerome & Long, Xin, 2026. "The dollar squeeze and economic growth," Journal of Macroeconomics, Elsevier, vol. 87(C).
    25. Robert N. McCauley, 2024. "The Offshore Dollar and US Policy," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2024(2), pages 1-40, May.

  11. Reis, Ricardo & Tenreyro, Silvana, 2022. "Helicopter money: what is it and what does it do?," CEPR Discussion Papers 17180, Centre for Economic Policy Research.

    Cited by:

    1. Max Sina Knicker & Karl Naumann-Woleske & Jean-Philippe Bouchaud & Francesco Zamponi, 2025. "Post-COVID inflation and the monetary policy dilemma: an agent-based scenario analysis," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 20(1), pages 141-195, January.
    2. Temperini, Jacopo & D'Ippoliti, Carlo & Gobbi, Lucio, 2024. "Is the time ripe for helicopter money? Growth impact and financial stability risks of outright monetary transfers," Structural Change and Economic Dynamics, Elsevier, vol. 69(C), pages 24-36.
    3. Cars Hommes & Julien Pinter & Isabelle Salle, 2024. "What people believe about monetary finance and what we can(‘t) do about it: Evidence from a large-scale, multi-country survey experiment," Working Papers 2024.9, International Network for Economic Research - INFER.
    4. Klus, Sylwia & Rogalinska, Aleksandra & Stefanski, Artur & Urbanowicz, Zuzanna & Wanat, Leszek, 2023. "Dilemmas of Bank Activities Under Economic Uncertainty -Selected Examples from the Polish Market from the Pandemic Period," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2023(3).
    5. Fujii, Yuki, 2026. "The Depreciation‒Demurrage Equivalence: A User Cost and Self- Financing Theory of Health Capital and Money," MPRA Paper 129086, University Library of Munich, Germany.
    6. Christiaan van der Kwaak, 2024. "Monetary financing does not produce miraculous fiscal multipliers," Discussion Papers 2417, Centre for Macroeconomics (CFM).
    7. Seip, Knut L. & Zhang, Dan, 2025. "A tale of the two recessions 2008 and 2020: What do the Taylor rule, the Phillips curve and Okun's law tell?," Journal of Policy Modeling, Elsevier, vol. 47(3), pages 681-701.
    8. Ida, Daisuke & Okano, Mitsuhiro, 2023. "Does nominal wage stickiness affect fiscal multiplier in a two-agent new Keynesian model?," MPRA Paper 117241, University Library of Munich, Germany.

  12. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Discussion Papers 2214, Centre for Macroeconomics (CFM).

    Cited by:

    1. Frederick Nsambu Kijjambu & Benjamin Musiita & Asaph Kaburura Katarangi & Geoffrey Kahangane & Sheilla Akampwera, 2023. "Determinants of Uganda’s Debt Sustainability: The Public Debt Dynamics Model in Perspective," Journal of Economics and Behavioral Studies, AMH International, vol. 15(4), pages 106-124.
    2. Maximilian Boeck & Massimiliano Marcellino & Michael Pfarrhofer & Tommaso Tornese, 2024. "Predicting Tail-Risks for the Italian Economy," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 20(3), pages 339-366, November.
    3. Martin-Valmayor, Miguel A. & Carmona-González, Nieves & Sánchez-Martín, María-Pilar & Gil-Alana, Luis A., 2024. "Persistence in sovereign debt during the past two centuries: Evidence for the US and the largest European economies," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 390-403.
    4. Economides, George & Koliousi, Giota & Miaouli, Natasha & Philippopoulos, Apostolis, 2025. "From debt arithmetic to fiscal sustainability and fiscal rules: Taking stock and policy lessons," The Journal of Economic Asymmetries, Elsevier, vol. 31(C).
    5. Momo Komatsu & David Murakami & Ivan Shchapov, 2025. "Productivity over the life-cycle and its effect on the interest rate," The Japanese Economic Review, Springer, vol. 76(2), pages 429-461, April.
    6. Zhang, Baojun & Li, Guangqin, 2026. "New infrastructure special debt, agglomeration and urban innovation: Evidence from China," Economic Modelling, Elsevier, vol. 154(C).
    7. Gergő Motyovszki & Philipp Pfeiffer & Jan in ’t Veld, 2024. "The Implications of Public Investment for Debt Sustainability," European Economy - Discussion Papers 204, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    8. Elfsbacka Schmöller, Michaela & McClung, Nigel, 2024. "Can growth stabilize debt? A fiscal theory perspective," Bank of Finland Research Discussion Papers 2/2024, Bank of Finland, revised 2024.
    9. Guillaume Bazot & David Guerreiro, 2025. "A decomposition of the labor share decline in the US business sector," AMSE Working Papers 2503, Aix-Marseille School of Economics, France.
    10. George‐Marios Angeletos & Chen Lian & Christian K. Wolf, 2024. "Can Deficits Finance Themselves?," Econometrica, Econometric Society, vol. 92(5), pages 1351-1390, September.
    11. Eyquem, Aurélien & Poilly, Céline & Belianska, Anna, 2023. "On portfolio frictions, asset returns and volatility," European Economic Review, Elsevier, vol. 160(C).
    12. Fernández-Gallardo, Álvaro & Payá, Iván, 2025. "Public debt burden and crisis severity," European Economic Review, Elsevier, vol. 176(C).
    13. Jiang, Zhengyang & Lustig, Hanno & Van Nieuwerburgh, Stijn & Xiaolan, Mindy Z., 2026. "Manufacturing risk-free government debt," Journal of Financial Economics, Elsevier, vol. 176(C).
    14. Banerjee, Joshua J., 2024. "Inflationary oil shocks, fiscal policy, and debt dynamics: New evidence from oil-importing OECD economies," Energy Economics, Elsevier, vol. 130(C).
    15. Schmidt, Sebastian, 2026. "Fiscal seigniorage and price level determination in a currency union," Working Paper Series 3183, European Central Bank.
    16. Mitsuru Katagiri & Junko Koeda & Hiroaki Miyamoto & Makoto Nirei & Takashi Unayama, 2025. "Fiscal Projections and Debt Sustainability in Japan," Asian Economic Policy Review, Japan Center for Economic Research, vol. 20(2), pages 222-232, July.
    17. Shobande, Olatunji A. & Ogbeifun, Lawrence, 2025. "Debt by rules: Recrafting impact of infrastructure investments and business cycles on debt sustainability," Structural Change and Economic Dynamics, Elsevier, vol. 73(C), pages 282-306.
    18. Osband, Kent & Filoso, Valerio & Capasso, Salvatore, 2024. "The limits of limitless debt," Journal of Macroeconomics, Elsevier, vol. 79(C).
    19. Matthieu Bellon & Matthias Gnewuch, 2024. "Dangerous liaisons? Debt supply and convenience yield spillovers in the euro area," Working Papers 63, European Stability Mechanism, revised 06 Nov 2024.

  13. Ricardo Reis, 2022. "The burst of high inflation in 2021–22: how and why did we get here?," BIS Working Papers 1060, Bank for International Settlements.

    Cited by:

    1. Aidala, Felix & Armantier, Olivier & Koşar, Gizem & Somerville, Jason & Topa, Giorgio & van der Klaauw, Wilbert, 2024. "Gasoline price changes and consumer inflation expectations: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 220(C), pages 66-80.
    2. Carlomagno, Guillermo & Eterovic, Nicolás & Hernández-Román, Luis G., 2024. "Disentangling demand and supply inflation shocks from electronic payments data," Economic Modelling, Elsevier, vol. 141(C).
    3. Bullard, James & Grimaud, Alex & Salle, Isabelle & Vermandel, Gauthier, 2026. "Soft landing and inflation scares," Journal of Monetary Economics, Elsevier, vol. 157(C).
    4. Aslanidis, Nektarios & Koursaros, Demetris & Otto, Glenn, 2024. "Asymmetry in inflation persistence under inflation targeting," The Quarterly Review of Economics and Finance, Elsevier, vol. 98(C).
    5. Max Sina Knicker & Karl Naumann-Woleske & Jean-Philippe Bouchaud & Francesco Zamponi, 2023. "Post-COVID Inflation & the Monetary Policy Dilemma: An Agent-Based Scenario Analysis," Papers 2306.01284, arXiv.org, revised May 2025.
    6. Yoshihiko Hogen & Yojiro Ito & Kenji Kanai & Naoya Kishi, 2024. "Changes in the Global Economic Landscape and Issues for Japan's Economy," Bank of Japan Working Paper Series 24-E-3, Bank of Japan.
    7. Boeck, Maximilian & Zörner, Thomas O., 2025. "Natural gas prices, inflation expectations, and the pass-through to euro area inflation," Energy Economics, Elsevier, vol. 141(C).
    8. Viral V. Acharya & Matteo Crosignani & Tim Eisert & Christian Eufinger, 2023. "How Do Supply Shocks to Inflation Generalize? Evidence from the Pandemic Era in Europe," NBER Working Papers 31790, National Bureau of Economic Research, Inc.
    9. Algieri, Bernardina & Kornher, Lukas & von Braun, Joachim, 2025. "The changing drivers of inflation – the case of food: Macroeconomics, speculation, climate change and war," Structural Change and Economic Dynamics, Elsevier, vol. 75(C), pages 782-800.
    10. Goodhart, Charles A.E. & Tsomocos, Dimitrios P. & Wang, Xuan, 2023. "Bank credit, inflation, and default risks over an infinite horizon," Journal of Financial Stability, Elsevier, vol. 67(C).
    11. Pflueger, Carolin, 2025. "Back to the 1980s or not? The drivers of inflation and real risks in Treasury bonds," Journal of Financial Economics, Elsevier, vol. 167(C).
    12. B. De Backer & A. Stevens & J. Wauters & H. Zimmer, 2023. "Inflation expectations and monetary policy," Economic Review, National Bank of Belgium, pages 1-38, October.
    13. Schaffer, Matthew & Segev, Nimrod, 2025. "Quantitative easing, bank lending, and aggregate fluctuations," Journal of Financial Stability, Elsevier, vol. 81(C).
    14. Isik, Sayim & Mert, Mehmet & Ulug, Mehmet, 2025. "Profit produced by post-pandemic inflation: Evidence from an emerging economy," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 233-244.
    15. Boris Hofmann & Cristina Manea & Benoit Mojon, 2024. "Targeted Taylor rules: monetary policy responses to demand- and supply-driven inflation," BIS Quarterly Review, Bank for International Settlements, December.

  14. Ricardo Reis, 2022. "Expected Inflation in the Euro Area: Measurement and Policy Responses," Discussion Papers 2301, Centre for Macroeconomics (CFM).

    Cited by:

    1. Laura Castillo-Martinez & Ricardo Reis, 2024. "How do central banks control inflation? A guide for the perplexed," Discussion Papers 2433, Centre for Macroeconomics (CFM).
    2. Reis, Ricardo, 2023. "Four mistakes in the use of measures of expected inflation," LSE Research Online Documents on Economics 118130, London School of Economics and Political Science, LSE Library.

  15. Ricardo Reis, 2021. "The constraint on public dept when r," BIS Working Papers 939, Bank for International Settlements.

    Cited by:

    1. Piyali Das & Chetan Ghate, 2022. "Debt Decomposition and the Role of Inflation: A Security Level Analysis for India," IEG Working Papers 451, Institute of Economic Growth.
    2. Zhengyang Jiang & Hanno Lustig & Stijn Van Nieuwerburgh & Mindy Z. Xiaolan, 2024. "What Drives Variation in the U.S. Debt‐to‐Output Ratio? The Dogs that Did not Bark," Journal of Finance, American Finance Association, vol. 79(4), pages 2603-2665, August.
    3. Jan Behringer & Lena Dräger & Sebastian Dullien & Sebastian Gechert, 2024. "News and Views on Public Finances: A Survey Experiment," CESifo Working Paper Series 10891, CESifo.
    4. Robert Barro, 2023. "r Minus g," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 1-17, April.
    5. Andrew Bailey & Ambrogio Cesa-Bianchi & Marco Garofalo & Richard Harrison & Nick McLaren & Rana Sajedi & Sophie Piton, 2023. "Structural change, global R* and the missing-investment puzzle," Bank of England Staff Working Paper series 997, Bank of England.
    6. Leonardo Martinez & Francisco Roch & Francisco Roldan & Jeromin Zettelmeyer, 2022. "Sovereign Debt," Working Papers 167, Red Nacional de Investigadores en Economía (RedNIE).
    7. Pierre L Siklos, 2022. "Monetary, fiscal and demographic interactions in Japan: impact and a comparative assessment," Working Papers halshs-03776217, HAL.
    8. Amol Amol & Erzo G. J. Luttmer, 2022. "Permanent Primary Deficits, Idiosyncratic Long-Run Risk, and Growth," Working Papers 794, Federal Reserve Bank of Minneapolis.
    9. Hans Gersbach & Jean-Charles Rochet & Ernst-Ludwig von Thadden, 2024. "Fiscal Policy and the Balance Sheet of the Private Sector," CRC TR 224 Discussion Paper Series crctr224_2024_544, University of Bonn and University of Mannheim, Germany.
    10. Ryo HORII & Katsunori Minami, 2025. "Growth Promotion Policies When Taxes Cannot Be Raised," CIGS Working Paper Series 25-003E, The Canon Institute for Global Studies.
    11. Masataka Eguchi & Toshiya Hatano, 2023. "What is fiscal sustainability?―Transversality condition, Domar condition, the fiscal theory of the price level―," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 19(3), pages 1-29, September.
    12. Gersbach, Hans & Rochet, Jean-Charles & von Thadden, Ernst-Ludwig, 2023. "Public Debt and the Balance Sheet of the Private Sector," TSE Working Papers 23-1412, Toulouse School of Economics (TSE).
    13. Jean-Baptiste Michau, 2022. "The Trilemma for Low Interest Rate Macroeconomics," Working Papers 2022-19, Center for Research in Economics and Statistics.
    14. Andras Lengyel, 2022. "Treasury Supply Shocks and the Term Structure of Interest Rates in the UK," MNB Working Papers 2022/6, Magyar Nemzeti Bank (Central Bank of Hungary).
    15. Christian Bayer & Benjamin Born & Ralph Luetticke, 2021. "The Liquidity Channel of Fiscal Policy," ifo Working Paper Series 351, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    16. Yasumasa Morito & Kenichi Ueda, 2024. "Bilateral Lucas Paradox," CARF F-Series CARF-F-581, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    17. Marco Bassetto & Wei Cui, 2023. "A Ramsey Theory of Financial Distortions," Staff Report 643, Federal Reserve Bank of Minneapolis.
    18. Zhengyang Jiang & Hanno Lustig & Stijn Van Nieuwerburgh & Mindy Z. Xiaolan, 2024. "The U.S. Public Debt Valuation Puzzle," Econometrica, Econometric Society, vol. 92(4), pages 1309-1347, July.
    19. Ryoji HIRAGUCHI, 2023. "Optimal Government Debt Policy in the Overlapping Generations Model with Idiosyncratic Capital Return Risk," Discussion papers 23063, Research Institute of Economy, Trade and Industry (RIETI).
    20. Infante, Sebastian & Ordoñez, Guillermo, 2025. "The collateral link between volatility and risk sharing," Journal of Monetary Economics, Elsevier, vol. 149(C).
    21. Heimberger, Philipp, 2023. "Public debt and r-g risks in advanced economies: Eurozone versus stand-alone," Journal of International Money and Finance, Elsevier, vol. 136(C).
    22. Vadim Elenev & Tim Landvoigt & Patrick J. Shultz & Stijn Van Nieuwerburgh, 2021. "Can Monetary Policy Create Fiscal Capacity?," NBER Working Papers 29129, National Bureau of Economic Research, Inc.
    23. James Malley & Apostolis Philippopoulos & Jim Malley, 2022. "The Macroeconomic Effects of Funding U.S. Infrastructure," CESifo Working Paper Series 9530, CESifo.
    24. Markus K. Brunnermeier & Sebastian, Sannikov, Yuliy Merkel & Sebastian Merkel, 2021. "Debt as Safe Asset," CESifo Working Paper Series 9500, CESifo.
    25. Dupraz, Stéphane & Rogantini Picco, Anna, 2025. "Fiscal requirements for price stability when households are not Ricardian," Working Paper Series 3038, European Central Bank.
    26. George-Marios Angeletos & Fabrice Collard & Harris Dellas, 2022. "Public Debt as Private Liquidity: Optimal Policy," Working Papers hal-03763095, HAL.
    27. Elmar Dönnebrink & Nils Grevenbrock, 2022. "Sustainability gap of public debt: importance of interest rates and a new decomposition with premia," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 49(4), pages 1009-1030, November.
    28. Kose, M. Ayhan & Nagle, Peter & Ohnsorge, Franziska & Sugawara, Naotaka, 2021. "What Has Been the Impact of COVID-19 on Debt? Turning a Wave into a Tsunami," MPRA Paper 110897, University Library of Munich, Germany.
    29. Plantin, Guillaume, 2023. "Asset bubbles and inflation as competing monetary phenomena," Journal of Economic Theory, Elsevier, vol. 212(C).
    30. Leland Farmer & Roger Farmer, 2022. "Zoomers and Boomers: Asset Prices and Intergenerational Inequality," NBER Working Papers 30419, National Bureau of Economic Research, Inc.
    31. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
    32. Zheng, Huanhuan, 2023. "Sovereign debt responses to the COVID-19 pandemic," Journal of International Economics, Elsevier, vol. 143(C).
    33. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "A Goldilocks Theory of Fiscal Policy," Working Papers 2021-37, Princeton University. Economics Department..
    34. Narayana R. Kocherlakota, 2024. "Difficulties in testing for capital overaccumulation," Quantitative Economics, Econometric Society, vol. 15(1), pages 89-114, January.
    35. Kersten Kellermann & Carsten-Henning Schlag, 2021. "Überakkumulation oder Investitionslücke? [Over Accumulation or Investment Gap?]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(12), pages 964-970, December.
    36. Brumm, Johannes & Feng, Xiangyu & Kotlikoff, Laurence & Kubler, Felix, 2022. "Are deficits free?," Journal of Public Economics, Elsevier, vol. 208(C).
    37. Narayana R. Kocherlakota, 2023. "Public Debt Bubbles In Heterogeneous Agent Models With Tail Risk," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(2), pages 491-509, May.
    38. Rogoff, Kenneth, 2021. "Fiscal sustainability in the aftermath of the great pause," Journal of Policy Modeling, Elsevier, vol. 43(4), pages 783-793.
    39. Kose, M. Ayhan & Kurlat, Sergio & Ohnsorge, Franziska & Sugawara, Naotaka, 2022. "A cross-country database of fiscal space," Journal of International Money and Finance, Elsevier, vol. 128(C).

  16. Ricardo Reis, 2021. "Losing the inflation anchor," Discussion Papers 2123, Centre for Macroeconomics (CFM).

    Cited by:

    1. Valentina Michelangeli & Fabio Massimo Piersanti, 2025. "Business loan characteristics and inflation shocks transmission in the euro area," Temi di discussione (Economic working papers) 1477, Bank of Italy, Economic Research and International Relations Area.
    2. Yoosoon Chang & Ana María Herrera & Elena Pesavento, 2023. "Oil prices uncertainty, endogenous regime switching, and inflation anchoring," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(6), pages 820-839, September.
    3. Yoosoon Chang & Fabio Gómez-Rodríguez & Mr. Gee Hee Hong, 2022. "The Effects of Economic Shocks on Heterogeneous Inflation Expectations," IMF Working Papers 2022/132, International Monetary Fund.
    4. Dalibor Stevanovic, 2026. "Who Saw It Coming? Historical Experienceand the 2021 Inflation Forecast Failure," Working Papers 26-02, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    5. Max Sina Knicker & Karl Naumann-Woleske & Jean-Philippe Bouchaud & Francesco Zamponi, 2025. "Post-COVID inflation and the monetary policy dilemma: an agent-based scenario analysis," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 20(1), pages 141-195, January.
    6. Forbes, Kristin & Ha, Jongrim & Kose, Ayhan, 2025. "Tradeoffs over Rate Cycles : Activity, Inflation and the Price Level," Policy Research Working Paper Series 11130, The World Bank.
    7. Sergey Ivashchenko & Andrey Sinyakov, 2025. "Heterogeneous Inflation Expectations Across Economic Agents: Implications for Monetary Policy," Bank of Russia Working Paper Series wps152, Bank of Russia.
    8. Meeks, Roland & Monti, Francesca, 2023. "Heterogeneous beliefs and the Phillips curve," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 41-54.
    9. Nicholas Bamegne Nambie & Philomena Dadzie & Dorcas Oye Haywood-Dadzie, 2023. "Measuring the Effect of Income Inequality, Financial Inclusion, Investment, and Unemployment, on Economic Growth in Africa: A Moderating Role of Digital Financial Technology," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 13(4), pages 111-124, July.
    10. Andros Kourtellos & Christos Antonios Statheas & Marios Zachariadis, 2025. "What can we learn from the distributions of inflation expectations across European households?," University of Cyprus Working Papers in Economics 02-2025, University of Cyprus Department of Economics.
    11. Sidney M. Caetano & João H. G. Mazzeu, 2026. "Short-term inflation expectations evaluation in the presence of instabilities," Empirical Economics, Springer, vol. 70(2), pages 1-27, February.
    12. Goodspeed, Tyler, 2025. "Trust the experts? The performance of inflation expectations, 1960–2023," International Journal of Forecasting, Elsevier, vol. 41(3), pages 863-876.
    13. Aslanidis, Nektarios & Koursaros, Demetris & Otto, Glenn, 2024. "Asymmetry in inflation persistence under inflation targeting," The Quarterly Review of Economics and Finance, Elsevier, vol. 98(C).
    14. Stefan Nagel & Zhen Yan, 2022. "Inflation Hedging on Main Street? Evidence from Retail TIPS Fund Flows," CESifo Working Paper Series 10118, CESifo.
    15. Binder, Carola Conces, 2022. "Time-of-day and day-of-week variations in Amazon Mechanical Turk survey responses," Journal of Macroeconomics, Elsevier, vol. 71(C).
    16. Olivier Armantier & Gizem Koşar & Jason Somerville & Giorgio Topa & Wilbert Van der Klaauw & John C. Williams, 2022. "The Curious Case of the Rise in Deflation Expectations," Staff Reports 1037, Federal Reserve Bank of New York.
    17. Natalie Burr, 2025. "Do inflation expectations respond to monetary policy? An empirical analysis for the United Kingdom," Bank of England Staff Working Paper series 1109, Bank of England.
    18. Boeck, Maximilian & Zörner, Thomas O., 2025. "Natural gas prices, inflation expectations, and the pass-through to euro area inflation," Energy Economics, Elsevier, vol. 141(C).
    19. Erwan Gautier & Jérémi Montornès, 2022. "Household Inflation Expectations in France: Lessons from a New Survey and the COVID-19 Crisis [Les anticipations d’inflation des ménages en France : leçons d’une nouvelle enquête et de la crise du Covid‑19]," Post-Print hal-05204340, HAL.
    20. Lena Dräger & Michael J. Lamla & Michael Lamla, 2023. "Consumers' Macroeconomic Expectations," CESifo Working Paper Series 10709, CESifo.
    21. Lucas Ordóñez, 2025. "The Transmission of Supply Shocks to Inflation: the Case of Argentina (2004-2022)," Working Papers 351, Red Nacional de Investigadores en Economía (RedNIE).
    22. Carl E. Walsh, 2022. "Inflation Surges and Monetary Policy," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 40, pages 39-66, November.
    23. Ursel Baumann & Annalisa Ferrando & Dmitris Georgarakos & Yuriy Gorodnichenko & Timo Reinelt, 2025. "Do Inflation Expectations Become More Anchored During a Disinflation Episode? Evidence for Euro Area Firms," Working Paper Series 2025-02, Federal Reserve Bank of San Francisco.
    24. Jane M. Ryngaert, 2023. "Balance of Risks and the Anchoring of Consumer Expectations," JRFM, MDPI, vol. 16(2), pages 1-18, January.
    25. Ignazio Visco, 2023. "Inflation Expectations and Monetary Policy in the Euro Area," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 51(2), pages 111-129, September.
    26. Bonomo, Marco & Carvalho, Carlos & Eusepi, Stefano & Perrupato, Marina & Abib, Daniel & Ayres, João & Matos, Silvia, 2024. "Abrupt monetary policy change and unanchoring of inflation expectations," Journal of Monetary Economics, Elsevier, vol. 145(S).
    27. John C. Williams, 2023. "Effective dialogue and well anchored inflation expectations: essential tools for navigating challenging times," BIS Papers chapters, in: Bank for International Settlements (ed.), Central banking in the Americas: Lessons from two decades, volume 127, pages 149-162, Bank for International Settlements.
    28. Paul Beaudry & Thomas J. Carter & Amartya Lahiri, 2022. "Looking Through Supply Shocks versus Controlling Inflation Expectations: Understanding the Central Bank Dilemma," Staff Working Papers 22-41, Bank of Canada.
    29. Yilmazkuday, Hakan, 2026. "Expected versus unexpected Inflation:The role of Trade Policy," The North American Journal of Economics and Finance, Elsevier, vol. 82(C).
    30. Eugene E. Van Dyk & Justin Beukes & Mario du Preez, 2013. "A Cost-Benefit Analysis of Concentrator Photovoltaic Technology Use in South Africa: A Case Study," ERSA Working Paper Series 343, Economic Research Southern Africa.
    31. Ordoñez Lucas Sebastián, 2024. "The transmission of Supply Shocks to inflation: The case of Argentina (2004-2023)," Asociación Argentina de Economía Política: Working Papers 4750, Asociación Argentina de Economía Política.
    32. López-Salido, David & Loria, Francesca, 2024. "Inflation at risk," Journal of Monetary Economics, Elsevier, vol. 145(S).

  17. Reis, Ricardo, 2020. "The fiscal footprint of macroprudential policy," Discussion Papers 31/2020, Deutsche Bundesbank.

    Cited by:

    1. Goodhart, Charles & Masciandaro, Donato & Ugolini, Stefano, 2021. "Pandemic Recession, Helicopter Money and Central Banking: Venice, 1630," CEPR Discussion Papers 15715, Centre for Economic Policy Research.
    2. Charles Goodhart & Donato Masciandaro & Stefano Ugolini, 2022. "Pandemic Recession and Helicopter Money: Venice, 1629--1631," Papers 2201.07181, arXiv.org.
    3. Monnet, Eric & Vari, Miklos, 2020. "A dilemma between liquidity regulation and monetary policy: some history and theory," CEPR Discussion Papers 15001, Centre for Economic Policy Research.
    4. Malmierca, María, 2023. "Optimal macroprudential and fiscal policy in a monetary union," Economic Modelling, Elsevier, vol. 122(C).
    5. Malmierca, María, 2022. "Stabilization and the policy mix in a monetary union," The Quarterly Review of Economics and Finance, Elsevier, vol. 83(C), pages 92-118.
    6. Jose E Bosca & Javier Ferri & Margarita Rubio, 2022. "Fiscal and macroprudential policies in a monetary union," Discussion Papers 2022/01, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    7. Sever, Can & Yücel, Emekcan, 2022. "The effects of elections on macroprudential policy," Journal of Comparative Economics, Elsevier, vol. 50(2), pages 507-533.
    8. Ma, Yong & Lv, Lin, 2022. "Money, debt, and the effects of fiscal stimulus," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 152-178.
    9. Can Sever & Emekcan Yucel, 2020. "Macroprudential Policy and Elections: What Matters? Abstract:," Working Papers 2020/01, Bogazici University, Department of Economics.

  18. Saleem Bahaj & Ricardo Reis, 2020. "Jumpstarting an international currency," Bank of England Staff Working Paper series 874, Bank of England.

    Cited by:

    1. Leander Bindewald, 2021. "Inconsistent Definitions of Money and Currency in Financial Legislation as a Threat to Innovation and Sustainability," JRFM, MDPI, vol. 14(2), pages 1-17, January.
    2. Lodge, David & Pérez, Javier J. & Albrizio, Silvia & Everett, Mary & De Bandt, Olivier & Georgiadis, Georgios & Ca' Zorzi, Michele & Lastauskas, Povilas & Carluccio, Juan & Parraga Rodriguez, Susana &, 2021. "The implications of globalisation for the ECB monetary policy strategy," Occasional Paper Series 263, European Central Bank.
    3. Corsetti, Giancarlo & Crowley, Meredith & Han, Lu, 2022. "Invoicing and the dynamics of pricing-to-market: Evidence from UK export prices around the Brexit referendum," Journal of International Economics, Elsevier, vol. 135(C).
    4. Zucker Marques, Marina, 2021. "Financial statecraft and transaction costs: The case of renminbi internationalization," Discussion Papers 2021/9, Free University Berlin, School of Business & Economics.
    5. Mitchener, Kris & Trebesch, Christoph, 2021. "Sovereign Debt in the 21st Century: Looking Backward, Looking Forward," CEPR Discussion Papers 15935, Centre for Economic Policy Research.
    6. Eren, Egemen & Malamud, Semyon, 2022. "Dominant currency debt," Journal of Financial Economics, Elsevier, vol. 144(2), pages 571-589.
    7. Boz, Emine & Casas, Camila & Georgiadis, Georgios & Gopinath, Gita & Le Mezo, Helena & Mehl, Arnaud & Nguyen, Tra, 2022. "Patterns of invoicing currency in global trade: New evidence," Journal of International Economics, Elsevier, vol. 136(C).
    8. Mukhin, Dmitry, 2022. "An equilibrium model of the international price system," LSE Research Online Documents on Economics 112500, London School of Economics and Political Science, LSE Library.
    9. Ma, Chang & Rebucci, Alessandro & Zhou, Sili, 2025. "A nascent international financial channel of China's monetary policy transmission," BOFIT Discussion Papers 10/2025, Bank of Finland Institute for Emerging Economies (BOFIT).
    10. Clayton, Christopher & Santos, Amanda Dos & Maggiori, Matteo & Schreger, Jesse, 2022. "Internationalizing Like China," SocArXiv r2msa, Center for Open Science.
    11. Georgiadis, Georgios & Le Mezo, Helena & Mehl, Arnaud & Tille, Cédric, 2021. "Fundamentals vs. policies: can the US dollar’s dominance in global trade be dented?," Working Paper Series 2574, European Central Bank.
    12. Antoine Berthou, 2023. "International sanctions and the dollar: Evidence from trade invoicing," Working papers 924, Banque de France.
    13. Boz, Emine & Casas, Camila & Georgiadis, Georgios & Gopinath, Gita & Le Mezo, Helena & Mehl, Arnaud & Nguyen, Tra, 2020. "Patterns in invoicing currency in global trade," Working Paper Series 2456, European Central Bank.
    14. Liu, Tao & Wang, Xiaosong & Woo, Wing Thye, 2025. "Invoicing currency and settlement currency: An empirical study and implications for RMB internationalization," China Economic Review, Elsevier, vol. 94(PC).
    15. Barry Eichengreen & Camille Macaire & Arnaud Mehl & Eric Monnet & Alain Naef, 2024. "Currency internationalization with Chinese characteristics: Is capital‐account convertibility required for the renminbi to acquire reserve‐currency status?," International Finance, Wiley Blackwell, vol. 27(2), pages 102-128, August.
    16. Christopher Clayton & Matteo Maggiori & Jesse Schreger, 2025. "Putting Economics Back into Geoeconomics," NBER Chapters, in: NBER Macroeconomics Annual 2025, volume 40, pages 23-87, National Bureau of Economic Research, Inc.
    17. Zhang, Mi & Sensoy, Ahmet & Nguyen, Duc Khuong & Cheng, Feiyang, 2025. "Can bilateral RMB swap reduce monetary policy spillovers from the United States to China?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 101(C).
    18. Marina Zucker‐Marques & Pedro Perfeito da Silva, 2022. "The Role of Institutions: A Cross‐country Analysis of Renminbi Trading in Foreign Exchange Markets," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(3), pages 42-74, May.
    19. Son, Minkyu, 2026. "The path to currency internationalization: Insights from the Chinese renminbi," Journal of International Money and Finance, Elsevier, vol. 160(C).
    20. He, Qing & Liu, Junyi & Yu, Jishuang, 2023. "Dancing with dragon: The RMB and developing economies’ currencies," Research in International Business and Finance, Elsevier, vol. 64(C).
    21. Florez-Orrego, Sergio & Maggiori, Matteo & Schreger, Jesse & Sun, Ziwen & Tinda, Serdil, 2023. "Global Capital Allocation," SocArXiv 5s6n3, Center for Open Science.
    22. Zucker-Marques, Marina, 2025. "Currency Internationalization, payment infrastructures and central banks: An institutional analysis of renminbi internationalization," Research in International Business and Finance, Elsevier, vol. 73(PA).
    23. Ryan Chahrour & Rosen Valchev, 2024. "The Dollar in an Era of International Retrenchment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(3), pages 1042-1080, September.
    24. Daisuke Ikeda, 2020. "Digital Money as a Unit of Account and Monetary Policy in Open Economies," IMES Discussion Paper Series 20-E-15, Institute for Monetary and Economic Studies, Bank of Japan.
    25. Liu, Tao & Wang, Xiaosong & Woo, Wing Thye, 2022. "The rise of Renminbi in Asia: Evidence from Network Analysis and SWIFT dataset," Journal of Asian Economics, Elsevier, vol. 78(C).
    26. Alina Iancu & Gareth Anderson & Sakai Ando & Ethan Boswell & Andrea Gamba & Shushanik Hakobyan & Lusine Lusinyan & Neil Meads & Yiqun Wu, 2022. "Reserve Currencies in an Evolving International Monetary System," Open Economies Review, Springer, vol. 33(5), pages 879-915, November.
    27. Benigno, Pierpaolo & Schilling, Linda M. & Uhlig, Harald, 2022. "Cryptocurrencies, currency competition, and the impossible trinity," Journal of International Economics, Elsevier, vol. 136(C).
    28. Horn, Sebastian & Reinhart, Carmen M. & Trebesch, Christoph, 2021. "China's overseas lending," Journal of International Economics, Elsevier, vol. 133(C).
    29. Hao, Kaixuan & Han, Liyan & Li, (Tony) Wei, 2022. "The impact of China's currency swap lines on bilateral trade," International Review of Economics & Finance, Elsevier, vol. 81(C), pages 173-183.

  19. Ricardo Reis, 2020. "The People versus the Markets: A Parsimonious Model of Inflation Expectations," Discussion Papers 2033, Centre for Macroeconomics (CFM).

    Cited by:

    1. Mathieu Pedemonte & Hiroshi Toma & Esteban Verdugo, 2023. "Aggregate Implications of Heterogeneous Inflation Expectations: The Role of Individual Experience," Working Papers 23-04, Federal Reserve Bank of Cleveland.
    2. Saleem Bahaj & Robert Czech & Sitong Ding & Ricardo Reis, 2023. "The market for inflation risk," Bank of England Staff Working Paper series 1028, Bank of England.
    3. Peter Andre & Ingar Haaland & Christopher Roth & Johannes Wohlfart, 2021. "Narratives about the Macroeconomy," CEBI working paper series 21-18, University of Copenhagen. Department of Economics. The Center for Economic Behavior and Inequality (CEBI).
    4. David, Antonio C. & Pienknagura, Samuel & Yépez, Juan F., 2025. "Can fiscal consolidations announcements help anchor inflation expectations?," Journal of International Money and Finance, Elsevier, vol. 151(C).
    5. Salomé Fofana & Paula Patzelt & Ricardo Reis, 2024. "Household Disagreement about Expected Inflation," Discussion Papers 2418, Centre for Macroeconomics (CFM).
    6. Sirio Aramonte, 2022. "Inflation risk and the labor market: beneath the surface of a flat Phillips curve," BIS Working Papers 1054, Bank for International Settlements.
    7. Stefan Nagel & Zhen Yan, 2022. "Inflation Hedging on Main Street? Evidence from Retail TIPS Fund Flows," CESifo Working Paper Series 10118, CESifo.
    8. Di Pace, Federico & Mangiante, Giacomo & Masolo, Riccardo M., 2025. "Do firm expectations respond to monetary policy announcements?," Journal of Monetary Economics, Elsevier, vol. 149(C).
    9. Michael D. Bauer & Mikhail Chernov, 2021. "Interest Rate Skewness and Biased Beliefs," NBER Working Papers 28954, National Bureau of Economic Research, Inc.
    10. Michele Andreolli & Hélène Rey, 2024. "Fiscal Consequences of Missing an Inflation Target," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(2), pages 701-772, June.
    11. Hie Joo Ahn & Leland E. Farmer, 2024. "Disagreement About the Term Structure of Inflation Expectations," Finance and Economics Discussion Series 2024-084, Board of Governors of the Federal Reserve System (U.S.).
    12. Taeyoung Doh & JiHyung Lee & Woong Yong Park, 2024. "Heterogeneity in Household Inflation Expectations: Policy Implications," Research Working Paper RWP 24-06, Federal Reserve Bank of Kansas City, revised 15 Nov 2024.
    13. Andresa Lagerborg & Evi Pappa & Morten O Ravn, 2023. "Sentimental Business Cycles," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 90(3), pages 1358-1393.

  20. Markus K. Bunnermeier & Ricardo Reis, 2019. "A Crash Course on the Euro Crisis," Discussion Papers 1915, Centre for Macroeconomics (CFM).

    Cited by:

    1. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic policy lessons for Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 152, Hellenic Observatory, LSE.
    2. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic Policy Lessons for Greece from the Debt Crisis," CESifo Working Paper Series 8188, CESifo.
    3. Kady Keita & Isabelle Rabaud & Camelia Turcu, 2023. "Fiscal outcomes, current account imbalances, and institutions in Europe: Exploring nonlinearities," Post-Print hal-04171812, HAL.
    4. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    5. Philip R. Lane, 2021. "The Resilience of the Euro," Journal of Economic Perspectives, American Economic Association, vol. 35(2), pages 3-22, Spring.
    6. Maideu-Morera, Gerard, 2024. "Optimal Fiscal Rules and Macroprudential Policies with Sovereign Default Risk," TSE Working Papers 24-1534, Toulouse School of Economics (TSE).
    7. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2021. "The ECB's Policy, the Recovery Fund and the Importance of Trust: The Case of Greece," CESifo Working Paper Series 9371, CESifo.
    8. Ari, Anil & Chen, Sophia & Ratnovski, Lev, 2021. "The dynamics of non-performing loans during banking crises: A new database with post-COVID-19 implications," Journal of Banking & Finance, Elsevier, vol. 133(C).
    9. Jéfferson Colombo & Peter Wanke & Jorge Antunes & Abul Kalam Azad, 2022. "Unveiling endogeneity between competition and efficiency in European banks: a robust econometric-neural network approach," SN Business & Economics, Springer, vol. 2(3), pages 1-46, March.
    10. Yothin Jinjarak & Rashad Ahmed & Sameer Nair-Desai & Weining Xin & Joshua Aizenman, 2020. "Pandemic Shocks and Fiscal-Monetary Policies in the Eurozone: COVID-19 Dominance During January - June 2020," NBER Working Papers 27451, National Bureau of Economic Research, Inc.
    11. Niels Gilbert & Sebastiaan Pool, 2020. "Sectoral allocation and macroeconomic imbalances in EMU," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 156(4), pages 945-984, November.
    12. Antonia Díaz, 2021. "The EU Budget and the Role of Public Goods," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 22(02), pages 35-38, March.
    13. Mariassunta Giannetti & YeeJin Jang, 2025. "Who Lends Before Banking Crises? Evidence from the International Syndicated Loan Market," Management Science, INFORMS, vol. 71(3), pages 2289-2310, March.
    14. Mr. Anil Ari & Sophia Chen & Mr. Lev Ratnovski, 2019. "The Dynamics of Non-Performing Loans during Banking Crises: A New Database," IMF Working Papers 2019/272, International Monetary Fund.
    15. Júlia Király, 2020. "Hungary and Other Emerging EU Countries in the Financial Storm," Financial and Monetary Policy Studies, Springer, number 978-3-030-49544-2, September.
    16. Antonia Díaz & Luis A. Puch, 2021. "EU After COVID-19: An Opportunity for Policy Coordination," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(4), pages 197-200, July.
    17. Xuewen Liu, 2023. "A Model of Systemic Bank Runs," Journal of Finance, American Finance Association, vol. 78(2), pages 731-793, April.

  21. Saleem Bahaj & Ricardo Reis, 2018. "Central Bank Swap Lines," Bank of England Staff Working Paper series 741, Bank of England.

    Cited by:

    1. Gordon Y. Liao & Tony Zhang, 2020. "The Hedging Channel of Exchange Rate Determination," International Finance Discussion Papers 1283, Board of Governors of the Federal Reserve System (U.S.).
    2. Yuewen Tang & Alfred Wong, 2022. "What Drives Dollar Funding Stress in Distress?," International Journal of Central Banking, International Journal of Central Banking, vol. 18(4), pages 1-52, October.
    3. Ca' Zorzi, Michele & Dedola, Luca & Georgiadis, Georgios & Jarociński, Marek & Stracca, Livio & Strasser, Georg, 2020. "Monetary policy and its transmission in a globalised world," Working Paper Series 2407, European Central Bank.
    4. Patrick Augustin & Mikhail Chernov & Lukas Schmid & Dongho Song, 2020. "The Term Structure of Covered Interest Rate Parity Violations," NBER Working Papers 27231, National Bureau of Economic Research, Inc.
    5. Obstfeld, Maurice & Cerutti, Eugenio & Zhou, Haonan, 2019. "Covered Interest Parity Deviations: Macrofinancial Determinants," CEPR Discussion Papers 13886, Centre for Economic Policy Research.
    6. Robert N McCauley & Catherine R Schenk, 2020. "Central bank swaps then and now: swaps and dollar liquidity in the 1960s," BIS Working Papers 851, Bank for International Settlements.
    7. Gino Cenedese & Pasquale Della Corte & Tianyu Wang, 2019. "Currency mispricing and dealer balance sheets," Bank of England Staff Working Paper series 779, Bank of England.
    8. Berthou, Antoine & Horny, Guillaume & Mésonnier, Jean-Stéphane, 2022. "The real effects of invoicing exports in dollars," Journal of International Economics, Elsevier, vol. 135(C).
    9. Jean Pisani-Ferry & Guntram B. Wolff & Jeremy Shapiro & Elina Ribakova & Mark Leonard, 2019. "Redefining Europe’s economic sovereignty," Bruegel Policy Contributions 31321, Bruegel.
    10. Rey, Hélène & Gourinchas, Pierre-Olivier & Sauzet, Maxime, 2019. "The International Monetary and Financial System," CEPR Discussion Papers 13714, Centre for Economic Policy Research.
    11. Wohlfarth, Paul & Chen, Xiaohong, 2024. "Limits to arbitrage and the term structure of CIP violations," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 95(C).
    12. Azar R. Hasanli, 2020. "Global Liquidity Challenges of the International Monetary System," Proceedings of the 17th International RAIS Conference, June 1-2, 2020 032ah, Research Association for Interdisciplinary Studies.
    13. Olav Syrstad & Ganesh Viswanath-Natraj, 2020. "Price-setting in the foreign exchange swap market: Evidence from order flow," Working Paper 2020/16, Norges Bank.
    14. Klára Čermáková & Eduardo Aguiar Henrique Filho, 2021. "Effects of Expansionary Monetary Policy on Agricultural Commodities Market," Sustainability, MDPI, vol. 13(16), pages 1-21, August.
    15. Chernov, Mikhail & Augustin, Patrick & Schmid, Lukas & Song, Dongho, 2020. "The term structure of CIP violations," CEPR Discussion Papers 14774, Centre for Economic Policy Research.
    16. M. Ayhan Kose & Peter S. O. Nagle & Franziska Ohnsorge & Naotaka Sugawara, 2020. "Can This Time Be Different? Policy Options in Times of Rising Debt," Koç University-TUSIAD Economic Research Forum Working Papers 2008, Koc University-TUSIAD Economic Research Forum.
    17. Liao, Gordon Y., 2020. "Credit migration and covered interest rate parity," Journal of Financial Economics, Elsevier, vol. 138(2), pages 504-525.
    18. M. Ayhan Kose & Franziska Ohnsorge, 2020. "Emerging and Developing Economies: Ten Years After the Global Recession," Koç University-TUSIAD Economic Research Forum Working Papers 2005, Koc University-TUSIAD Economic Research Forum.
    19. Fernando Eguren-Martin, 2020. "Dollar shortages and central bank swap lines," Bank of England Staff Working Paper series 879, Bank of England.
    20. Valentin Haddad & Alan Moreira & Tyler Muir, 2020. "When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed’s Response," NBER Working Papers 27168, National Bureau of Economic Research, Inc.
    21. Bank for International Settlements, 2019. "Unconventional monetary policy tools: a cross-country analysis," CGFS Papers, Bank for International Settlements, number 63.
    22. Robert N. McCauley, 2020. "The Global Domain of the Dollar: Eight Questions," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(4), pages 421-429, December.
    23. Emmanuel Carré & Laurent Le Maux, 2018. "The Federal Reserve's Dollar Swap Lines and the European Central Bank during the global financial crisis of 2007-2009," Post-Print hal-02570211, HAL.
    24. Egemen Eren & Andreas Schrimpf & Vladyslav Sushko, 2020. "US dollar funding markets during the Covid-19 crisis - the international dimension," BIS Bulletins 15, Bank for International Settlements.
    25. Ruch,Franz Ulrich, 2020. "Prospects, Risks, and Vulnerabilities in Emerging and Developing Economies : Lessons from the Past Decade," Policy Research Working Paper Series 9181, The World Bank.
    26. Hao, Kaixuan & Han, Liyan & Li, (Tony) Wei, 2022. "The impact of China's currency swap lines on bilateral trade," International Review of Economics & Finance, Elsevier, vol. 81(C), pages 173-183.

  22. Ricardo Reis, 2018. "Central Banks Going Long," CESifo Working Paper Series 6998, CESifo.

    Cited by:

    1. Takáts, Előd & Temesvary, Judit, 2021. "How does the interaction of macroprudential and monetary policies affect cross-border bank lending?," Journal of International Economics, Elsevier, vol. 132(C).
    2. Christian Pfister & Jean-Guillaume Sahuc, 2020. "Unconventional Monetary Policies: A Stock-Taking Exercise," Working papers 761, Banque de France.
    3. K. Mukherjee & B. Ouattara, 2021. "Climate and monetary policy: do temperature shocks lead to inflationary pressures?," Climatic Change, Springer, vol. 167(3), pages 1-21, August.
    4. Grahame Johnson & Sharon Kozicki & Romanos Priftis & Lena Suchanek & Jonathan Witmer & Jing Yang, 2020. "Implementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature," Discussion Papers 2020-16, Bank of Canada.
    5. Guillaume Bazot & Eric Monnet & Matthias Morys, 2024. "Central banks and the absorption of international shocks (1891-2019)," PSE Working Papers halshs-04778323, HAL.
    6. Caballero, Diego & Lucas, André & Schwaab, Bernd & Zhang, Xin, 2020. "Risk endogeneity at the lender/investor-of-last-resort," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 283-297.

  23. Ricardo Reis, 2017. "Can the Central Bank Alleviate Fiscal Burdens?," CESifo Working Paper Series 6604, CESifo.

    Cited by:

    1. Patrick Bolton & Haizhou Huang, 2017. "The Capital Structure of Nations," NBER Working Papers 23612, National Bureau of Economic Research, Inc.
    2. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis & Vassilatos, Vanghelis, 2024. "Can central banks do the unpleasant job that governments should do?," European Economic Review, Elsevier, vol. 165(C).
    3. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy And Psychology," BAFFI CAREFIN Working Papers 19105, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Mankiw, N Gregory, 2017. "Friedman’s Presidential Address in the Evolution of Macroeconomic Thought," CEPR Discussion Papers 12442, Centre for Economic Policy Research.
    5. Ricardo Reis, 2017. "QE in the Future: The Central Bank’s Balance Sheet in a Fiscal Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(1), pages 71-112, April.
    6. Bofinger, Peter & Ries, Mathias, 2017. "Excess saving and low interest rates: Theory and empirical evidence," CEPR Discussion Papers 12111, Centre for Economic Policy Research.
    7. Allen-Coghlan, Matthew & McQuinn, Kieran & Varthalitis, Petros, 2020. "Sovereign debt after COVID-19: How the involvement of the ECB can impact the recovery path of a Member State," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI).
    8. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis, 2022. "The ECB's policy, the Recovery Fund and the importance of trust and fiscal corrections: The case of Greece," Economic Modelling, Elsevier, vol. 112(C).
    9. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2021. "Austerity, Assistance and Institutions: Lessons from the Greek Sovereign Debt Crisis," Open Economies Review, Springer, vol. 32(3), pages 435-478, July.
    10. Mankiw, N. Gregory & Reis, Ricardo, 2017. "Friedman's presidential address in the evolution of macroeconomic thought," LSE Research Online Documents on Economics 87163, London School of Economics and Political Science, LSE Library.
    11. van Wijnbergen, Sweder & Olijslagers, Stan & Petersen, Annelie & de Vette, Nander, 2018. "What Option Prices tell us about the ECB's Unconventional Monetary Policies," CEPR Discussion Papers 13371, Centre for Economic Policy Research.
    12. Francisco Gomes Pereira, 2023. "Balance Sheet Expansionary Policies in the Euro Area: Macroeconomic Impacts and a Vulnerable versus Non-Vulnerable Comparison - A Bayesian Structural VAR Approach," Working Papers REM 2023/0259, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    13. Perazzi, Elena & Bacchetta, Philippe, 2022. "CBDC as imperfect substitute to bank deposits: a macroeconomic perspective," MPRA Paper 115574, University Library of Munich, Germany.
    14. Ricardo Reis, 2018. "Central Banks Going Long," Discussion Papers 1810, Centre for Macroeconomics (CFM).
    15. Jochem, Axel & Lecomte, Ernest, 2024. "Risky sovereign bond holdings by commercial banks in the euro area: Do safe assets availability and differences in bank funding costs play a role?," Discussion Papers 35/2024, Deutsche Bundesbank.
    16. Bletzinger, Tilman & von Thadden, Leopold, 2018. "Designing QE in a fiscally sound monetary union," Working Paper Series 2156, European Central Bank.
    17. Alexandre Corhay & Thilo Kind & Howard Kung & Gonzalo Morales, 2021. "Discount Rates, Debt Maturity, and the Fiscal Theory," Staff Working Papers 21-58, Bank of Canada.
    18. Hollmayr, Josef & Kühl, Michael, 2019. "Monetary–fiscal interaction and quantitative easing," Economics Letters, Elsevier, vol. 174(C), pages 200-207.
    19. Williamson, Stephen D., 2019. "Interest on reserves, interbank lending, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 101(C), pages 14-30.
    20. Bolton, Patrick & Huang, Haizhou, 2017. "The Capital Structure of Nations," CEPR Discussion Papers 12157, Centre for Economic Policy Research.
    21. Shifu Jiang, 2022. "Optimal Credit, Monetary, and Fiscal Policy under Occasional Financial Frictions and the Zero Lower Bound," International Journal of Central Banking, International Journal of Central Banking, vol. 18(1), pages 151-197, March.
    22. Sascha Buetzer, 2022. "Advancing the Monetary Policy Toolkit through Outright Transfers," IMF Working Papers 2022/087, International Monetary Fund.
    23. Patrick Bolton & Haizhou Huang, 2018. "The Capital Structure of Nations [Welfare analysis of currency regimes with defaultable debts]," Review of Finance, European Finance Association, vol. 22(1), pages 45-82.
    24. Barthélemy, Jean & Mengus, Eric & Plantin, Guillaume, 2024. "The central bank, the treasury, or the market: Which one determines the price level?," Journal of Economic Theory, Elsevier, vol. 220(C).
    25. Jorge Silva, 2020. "Impact of public and private sector external debt on economic growth: the case of Portugal," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 10(4), pages 607-634, December.

  24. Ioannides, Yannis & Philippon, Presenter Thomas & Gourinchas, Pierre-Olivier & Blanchard, Olivier & Steinsson, Jon & Uhlig, Harald & Alvarez, Fernando & Reis, Ricardo & Klein, Michael, 2017. "The Analytics of the Greek Crisis Discussion," Department of Economics, Working Paper Series qt4z39g6vx, Department of Economics, Institute for Business and Economic Research, UC Berkeley.

    Cited by:

    1. Andreasen, Eugenia & Bauducco, Sofía & Dardati, Evangelina, 2024. "Capital controls and firm performance," Journal of International Economics, Elsevier, vol. 150(C).
    2. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos, 2026. "Repayment of EU Bailout Loans in a Member-country of the ES: The Case of Greece," Open Economies Review, Springer, vol. 37(1), pages 233-289, March.
    3. Lenoël, Cyrille & Macchiarelli, Corrado & Young, Garry, 2022. "Greece 2010-18: what could we have done differently?," LSE Research Online Documents on Economics 115240, London School of Economics and Political Science, LSE Library.
    4. Germaschewski, Yin & Wang, Shu-Ling, 2022. "Fiscal stabilization in high-debt economies without monetary independence," Journal of Macroeconomics, Elsevier, vol. 72(C).
    5. Silvia Marchesi & Pietro Bomprezzi, 2021. "A firm level approach on the effects of IMF programs," Working Papers 476, University of Milano-Bicocca, Department of Economics, revised Aug 2021.
    6. Efstathios Magerakis, 2025. "Industry differences and their influence on why companies retain cash: the impact of the COVID-19 pandemic," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 36(2), pages 205-267, June.
    7. Georgios Gatsios & Christos Genakos & Stella Papadokonstantaki, 2026. "The impact of price ceiling regulation: evidence from the retail gasoline market," CEP Discussion Papers dp2169, Centre for Economic Performance, LSE.
    8. Olivier Blanchard, 2025. "Convergence? Thoughts About the Evolution of Mainstream Macroeconomics over the Last 40 Years," NBER Chapters, in: NBER Macroeconomics Annual 2025, volume 40, pages 1-19, National Bureau of Economic Research, Inc.
    9. Yannis Caloghirou & Ioannis Giotopoulos & Alexandra Kontolaimou & Aggelos Tsakanikas, 2022. "Inside the black box of high-growth firms in a crisis-hit economy: corporate strategy, employee human capital and R&D capabilities," International Entrepreneurship and Management Journal, Springer, vol. 18(3), pages 1319-1345, September.
    10. Dimakopoulou, Vasiliki & Economides, George & Philippopoulos, Apostolis, 2022. "The ECB's policy, the Recovery Fund and the importance of trust and fiscal corrections: The case of Greece," Economic Modelling, Elsevier, vol. 112(C).
    11. Dimitris Malliaropulos & Dimitris Papageorgiou & Melina Vasardani & Evangelia Vourvachaki, 2021. "The impact of the Recovery and Resilience Facility on the Greek economy," Economic Bulletin, Bank of Greece, issue 53, pages 7-28, July.
    12. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    13. Júlio, Paulo & Maria, José R. & Santos, Sílvia, 2025. "Risk shocks, due loans, and policy options: When less is more!," Journal of Financial Stability, Elsevier, vol. 80(C).
    14. Spyros Arvanitis & Euripidis Loukis, 2024. "Factors Explaining Firm Economic Vulnerability During the 2008 Crisis," Journal of Industry, Competition and Trade, Springer, vol. 24(1), pages 1-41, December.
    15. Maideu-Morera, Gerard, 2024. "Optimal Fiscal Rules and Macroprudential Policies with Sovereign Default Risk," TSE Working Papers 24-1534, Toulouse School of Economics (TSE).
    16. Kyriakos Drivas & Claire Economidou & Ioannis Kaplanis & Maria Theano Tagaraki, 2023. "Examination of related diversification in laggard regions," Papers in Regional Science, Wiley Blackwell, vol. 102(4), pages 851-869, August.
    17. Fakos, Alexandros & Sakellaris, Plutarchos & Tavares, Tiago, 2022. "Investment slumps during financial crises: The real effects of credit supply," Journal of Financial Economics, Elsevier, vol. 145(1), pages 29-44.
    18. Alexi Thompson & James J. Jozefowicz, 2025. "Greek imports from china: monopoly power of the piraeus port deal," International Economics and Economic Policy, Springer, vol. 22(1), pages 1-18, February.
    19. Matthieu Darracq Paries & Georg Muller & Niki Papadopoulou, 2022. "Fiscal Multipliers with Sovereign Risk and Fragile Banks," Working Papers 2022-5, Central Bank of Cyprus.
    20. Guilherme Bandeira & Jordi Caballe & Eugenia Vella, 2022. "Emigration and Fiscal Austerity in a Depression," DEOS Working Papers 2224, Athens University of Economics and Business.
    21. Robert J. Kolesar & Rok Spruk, 2024. "Effect of Austerity Measures on Infant Mortality: Evidence from Greece," Papers 2407.17084, arXiv.org.
    22. Feghali, Khalil & Mora, Nada & Nassif, Pamela, 2021. "Financial inclusion, bank market structure, and financial stability: International evidence," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 236-257.

  25. Ricardo Reis, 2017. "Is Something Really Wrong with Macroeconomics?," CESifo Working Paper Series 6446, CESifo.

    Cited by:

    1. Eugenio Caverzasi & Alberto Russo, 2018. "Toward a new microfounded macroeconomics in the wake of the crisis," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 27(6), pages 999-1014.
    2. Federico Guglielmo Morelli & Michael Benzaquen & Marco Tarzia & Jean-Philippe Bouchaud, 2020. "Confidence collapse in a multihousehold, self-reflexive DSGE model," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 117(17), pages 9244-9249, April.
    3. Sergey Ivashchenko & Semih Emre Çekin & Kevin Kotzé & Rangan Gupta, 2020. "Forecasting with Second-Order Approximations and Markov-Switching DSGE Models," Computational Economics, Springer;Society for Computational Economics, vol. 56(4), pages 747-771, December.
    4. Leon Podkaminer, 2021. "Dynamic Stochastic General Equilibrium: macroeconomics at a dead end," Bank i Kredyt, Narodowy Bank Polski, vol. 52(2), pages 97-122.
    5. Daniel Levy & Tamir Mayer & Alon Raviv, 2022. "Economists in the 2008 Financial Crisis: Slow to See, Fast to Act," Working Papers 2022-01, Bar-Ilan University, Department of Economics.
    6. Boscá, J.E. & Doménech, R. & Ferri, J. & Méndez, R. & Rubio-Ramírez, J.F., 2020. "Financial and fiscal shocks in the great recession and recovery of the Spanish economy," European Economic Review, Elsevier, vol. 127(C).
    7. Gulan, Adam, 2018. "Paradise lost? A brief history of DSGE macroeconomics," Bank of Finland Research Discussion Papers 22/2018, Bank of Finland.
    8. Federico Morelli & Michael Benzaquen & Marco Tarzia & Jean-Philippe Bouchaud, 2020. "Confidence Collapse in a Multi-Household, Self-Reflexive DSGE Model," Post-Print hal-02323098, HAL.
    9. Olatunji A. Shobande & Oladimeji T. Shodipe & Simplice A. Asongu, 2019. "Global Shocks Alert and Monetary Policy Responses," Working Papers of the African Governance and Development Institute. 19/066, African Governance and Development Institute..
    10. Gabriel F. Benzecry & Daniel J. Smith, 2024. "The wisdom of classical political economy in economics: incorporated or lost?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 37(2), pages 133-152, June.
    11. Daniel Levy & Tamir Mayer & Alon Raviv, 2020. "Academic Scholarship in Light of the 2008 Financial Crisis: Textual Analysis of NBER Working Papers," Working Papers 2020-01, Bar-Ilan University, Department of Economics.
    12. Jaakko Kuorikoski & Aki Lehtinen, 2018. "Model selection in macroeconomics: DSGE and ad hocness," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(3), pages 252-264, July.
    13. Döpke, Jörg & Fritsche, Ulrich & Müller, Karsten, 2019. "Has macroeconomic forecasting changed after the Great Recession? Panel-based evidence on forecast accuracy and forecaster behavior from Germany," Journal of Macroeconomics, Elsevier, vol. 62(C).
    14. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    15. Luca Fontanelli, 2023. "Theories of Market Selection: A Survey," GREDEG Working Papers 2023-08, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    16. Carolina Alves, 2026. "Theory and realism in economics: Richard R. Nelson, equilibrium and economic change," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 53(1), pages 95-113, March.
    17. Shobande Olatunji Abdul & Shodipe Oladimeji Tomiwa, 2019. "New Keynesian Liquidity Trap and Conventional Fiscal Stance: An Estimated DSGE Model," Economics and Business, Paradigm, vol. 33(1), pages 152-169, January.
    18. Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
    19. Ádám Török & Boglárka Konka, 2018. "Episode or Hysteresis? Some Theoretical and Policy Lessons from the Crisis of 2008," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 68(supplemen), pages 45-70, November.
    20. Sebastian Gechert, 2023. "Fiscal policy: post- or New Keynesian?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 20(2), pages 338-355, November.
    21. Varthalitis, Petros, 2019. "FIR-GEM: A SOE-DSGE Model for fiscal policy analysis in Ireland," MPRA Paper 93059, University Library of Munich, Germany.
    22. Emre Örün, 2020. "Theoritical Seekings in Macroeconomics," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 70(2), pages 451-477, December.
    23. Dia, Enzo & Bartolomeo, Giovanni Di, 2019. "Macroeconomics, rationality, and institutions," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 46-49.
    24. Kose, M. Ayhan & Claessens, Stijn, 2017. "Asset Prices and Macroeconomic Outcomes: A Survey," CEPR Discussion Papers 12460, Centre for Economic Policy Research.
    25. Muellbauer, John, 2018. "The Future of Macroeconomics," INET Oxford Working Papers 2018-10, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    26. P.J. Glandon & Ken Kuttner & Sandeep Mazumder & Caleb Stroup, 2019. "Macroeconomic Research, Present and Past," Department of Economics Working Papers 2019-06, Department of Economics, Williams College, revised Jul 2019.
    27. William J. Luther, 2021. "Two paths forward for Austrian macroeconomics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(2), pages 289-297, June.
    28. David Hendry & John Muellbauer, 2017. "The future of macroeconomics: Macro theory and models at the Bank of England," Economics Series Working Papers 832, University of Oxford, Department of Economics.
    29. Kieran P. Donaghy, 2021. "Implications for Regional Science of the “Rebuilding Macroeconomic Theory Projectâ€," International Regional Science Review, , vol. 44(3-4), pages 363-384, May.
    30. Gonzalez-Martinez, Ana Rosa & Jongeneel, Roel & Kros, Hans & Lesschen, Jan Peter & de Vries, Marion & Reijs, Joan & Verhoog, David, 2021. "Aligning agricultural production and environmental regulation: An integrated assessment of the Netherlands," Land Use Policy, Elsevier, vol. 105(C).
    31. Urban, Janina & Rommel, Florian, 2020. "German economics: Its current form and content," Working Paper Serie des Instituts für Ökonomie 56, Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie.

  26. N. Gregory Mankiw & Ricardo Reis, 2017. "Friedman’s Presidential Address in the Evolution of Macroeconomic Thought," Discussion Papers 1732, Centre for Macroeconomics (CFM).

    Cited by:

    1. EKOJA, Ematun Vivian & OLANIYI, Oyinlola & IHUOMA, Anthony, 2024. "Determinants of Household Consumption Pattern in Federal Capital Territory (FCT), Abuja," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(12), pages 388-411, December.
    2. Luís Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares, 2019. "The Phillips Curve at 60: time for time and frequency," CEF.UP Working Papers 1902, Universidade do Porto, Faculdade de Economia do Porto.
    3. Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the Introduction of the Natural Rate Hypothesis in the Keynesian Framework," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02988080, HAL.
    4. Edward Nelson, 2020. "Seven Fallacies Concerning Milton Friedman's “The Role of Monetary Policy”," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 145-164, February.
    5. Kaan Masatci & Asuman Oktayer, 2022. "The Power of Linear Methods in Determining the Dominant Fiscal Regime: A Research on Turkiye," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 65(65), pages 375-394, June.
    6. Richard Senner & Didier Sornette, 2019. "The Holy Grail of Crypto Currencies: Ready to Replace Fiat Money?," Journal of Economic Issues, Taylor & Francis Journals, vol. 53(4), pages 966-1000, October.
    7. Jannie Rossouw, 2021. "Perspectives of a capitalist on targeting inflation at 3 per cent and on fiscal sustainability in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 89(4), pages 635-643, December.
    8. Emilio Ocampo, 2020. "The Global Disinflation Puzzle. A Selective Review of the Theory and Evidence in an Historical Context," CEMA Working Papers: Serie Documentos de Trabajo. 726, Universidad del CEMA.
    9. Aguiar-Conraria, Luís & Martins, Manuel M.F. & Soares, Maria Joana, 2023. "The Phillips curve at 65: Time for time and frequency," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    10. Thomas Palley, 2018. "Recovering Keynesian Phillips curve theory," FMM Working Paper 26-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    11. Ernest Gnan & Claudia Kwapil & Maria Teresa Valderrama, 2018. "Monetary policy after the crisis: mandates, targets, and international linkages," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 8-33.
    12. N. KUBENDRAN & Rose Govindha RAJ & Balaram ROULA, 2025. "Is Balance of Payments a monetary phenomenon: doctrinal aspects and empirical evidence from India," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(643), S), pages 281-300, Summer.
    13. Reis, Ricardo, 2022. "Losing the inflation anchor," LSE Research Online Documents on Economics 112462, London School of Economics and Political Science, LSE Library.
    14. Kubendran, N., 2020. "Testing the Effectiveness of Johnsonian Approach using India’s Balance of Payments," Romanian Economic Business Review, Romanian-American University, vol. 15(3), pages 61-80, September.
    15. Oliver Landmann, 2022. "Stabilization Policy: A Turbulent Journey Through Time," Discussion Paper Series 42, Department of International Economic Policy, University of Freiburg, revised Sep 2022.
    16. Shodipe Oladimeji T. & Shobande Olatunji Abdul, 2021. "Monetary Policy Dynamics in the United States," Open Economics, De Gruyter, vol. 4(1), pages 14-30, January.
    17. Edoardo Beretta, 2024. "On the Inflation-Debt-Bubble “Vicious Cycle” in Times of Evolving Money—A Memorandum of Forward-Looking Lessons," Economies, MDPI, vol. 12(2), pages 1-14, January.
    18. Kose, M. Ayhan & Ha, Jongrim & Ohnsorge, Franziska, 2019. "Understanding Inflation in Emerging and Developing Economies," CEPR Discussion Papers 13608, Centre for Economic Policy Research.
    19. Kennedy, Christopher A., 2024. "Energy constraints on macroeconomic paradigms," Ecological Economics, Elsevier, vol. 226(C).
    20. Bodo Herzog, 2021. "Hidden Blemish in European Law: Judgements on Unconventional Monetary Programmes," Laws, MDPI, vol. 10(2), pages 1-13, March.
    21. Maciej Ryczkowski, 2026. "Zygmunt Narski, Milton Friedman, and modern monetary policy," International Economics and Economic Policy, Springer, vol. 23(1), pages 1-25, February.
    22. Shobande Olatunji Abdul & Shodipe Oladimeji Tomiwa, 2019. "New Keynesian Liquidity Trap and Conventional Fiscal Stance: An Estimated DSGE Model," Economics and Business, Paradigm, vol. 33(1), pages 152-169, January.
    23. Rancan, Antonella, 2022. "The "place of the Phillips curve" in macroeconometric models: The case of the first Federal Reserve Board's model (1966-1980s)," Economics & Statistics Discussion Papers esdp22080, University of Molise, Department of Economics.
    24. Bhar, Ramaprasad & Malliaris, A.G., 2021. "Modeling U.S. monetary policy during the global financial crisis and lessons for Covid-19," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 15-33.
    25. Hwang, In Do & Lustenberger, Thomas & Rossi, Enzo, 2021. "Does communication influence executives’ opinion of central bank policy?☆," Journal of International Money and Finance, Elsevier, vol. 115(C).
    26. Carola Binder, 2025. "The rise of inflation targeting," Southern Economic Journal, John Wiley & Sons, vol. 91(4), pages 1229-1246, April.
    27. Verbrugge, Randal & Zaman, Saeed, 2023. "The hard road to a soft landing: Evidence from a (modestly) nonlinear structural model," Energy Economics, Elsevier, vol. 123(C).
    28. Olatunji Abdul Shobande & Oladimeji Tomiwa Shodipe, 2021. "Monetary Policy Interdependency in Fisher Effect: A Comparative Evidence," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 10(1), pages 203-226.

  27. Alisdair McKay & Ricardo Reis, 2016. "Optimal Automatic Stabilizers," Discussion Papers 1618, Centre for Macroeconomics (CFM).

    Cited by:

    1. Fagereng, Andreas & Onshuus, Helene & Torstensen, Kjersti N., 2024. "The consumption expenditure response to unemployment: Evidence from Norwegian households," Journal of Monetary Economics, Elsevier, vol. 146(C).
    2. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," PSE Working Papers halshs-03243698, HAL.
    3. Euiyoung Jung, 2021. "Rigid Wages, Endogenous Job Destruction, and Destabilizing Spirals," Working Papers halshs-03213006, HAL.
    4. Heimberger, Philipp, 2023. "The cyclical behaviour of fiscal policy: A meta-analysis," Economic Modelling, Elsevier, vol. 123(C).
    5. Hoffmann, Eran B. & Malacrino, Davide, 2019. "Employment time and the cyclicality of earnings growth," Journal of Public Economics, Elsevier, vol. 169(C), pages 160-171.
    6. Nikolaos Kokonas & Paulo Santos Monteiro, 2023. "Self-fulfilling labor wedge fluctuations and unemployment insurance," Discussion Papers 2313, Centre for Macroeconomics (CFM).
    7. Stéphane Auray & Aurélien Eyquem, 2018. "Robots in a Small Open Economy," Working Papers 2018-17, Center for Research in Economics and Statistics.
    8. Tomer Ifergane, 2022. "Time to Say Goodbye: The Macroeconomic Implications of Termination Notice," Discussion Papers 2212, Centre for Macroeconomics (CFM).
    9. Thomas Dengler & Britta Gehrke, 2022. "Short-Time Work and Precautionary Savings," CESifo Working Paper Series 9873, CESifo.
    10. Euiyoung Jung, 2021. "Rigid Wages, Endogenous Job Destruction, and Destabilizing Spirals," PSE Working Papers halshs-03213006, HAL.
    11. Bayer, Christian & Born, Benjamin & Luetticke, Ralph & Müller, Gernot, 2022. "The Coronavirus Stimulus Package: How large is the transfer multiplier?," CEPR Discussion Papers 14600, Centre for Economic Policy Research.
    12. Martins, Pedro S., 2021. "Do entry wages increase when severance pay drops? Not in recessions," Economics Letters, Elsevier, vol. 201(C).
    13. Kopiec, Paweł, 2024. "The aggregate and distributional effects of fiscal stimuli," Economic Modelling, Elsevier, vol. 134(C).
    14. Vaz de Castro, Afonso, 2022. "Risk Aversion and Recessive Impacts of Austerity," MPRA Paper 111875, University Library of Munich, Germany.
    15. Jung, Euiyoung, 2023. "Wage rigidity and destabilizing spirals," Journal of Macroeconomics, Elsevier, vol. 77(C).
    16. Olivier J. Blanchard & Lawrence H. Summers, 2017. "Rethinking Stabilization Policy: Evolution or Revolution?," NBER Working Papers 24179, National Bureau of Economic Research, Inc.
    17. Philipp Engler & Wolfgang Strehl, 2016. "The Macroeconomic Effects of Progressive Taxes and Welfare," Discussion Papers of DIW Berlin 1626, DIW Berlin, German Institute for Economic Research.
    18. Saurabh Sharma & Ipsita Padhi & Sarat Dhal, 2022. "Monetary-fiscal coordination: when, why and how?," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 40(4), pages 661-686, September.
    19. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," Working Papers halshs-03243698, HAL.
    20. Bergant, Katharina & Forbes, Kristin, 2023. "Policy packages and policy space: Lessons from COVID-19☆," European Economic Review, Elsevier, vol. 158(C).
    21. Axelle Ferriere & Gaston Navarro, 2025. "Fiscal Management of Aggregate Demand: The Effectiveness of Labor Tax Credits," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(3), pages 733-778, September.
    22. Rodolfo G. Campos & Jesus Fernandez-Villaverde & Galo Nuno & Peter Paz, 2024. "Navigating by Falling Stars:Monetary Policy with Fiscally Driven Natural Rates," PIER Working Paper Archive 24-007, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    23. Joonseok Oh & Anna Rogantini Picco, 2025. "Macro Uncertainty, Unemployment Risk, And Consumption Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(1), pages 287-312, February.
    24. Javier López Segovia, 2023. "Consumption Commitments and Unemployment Insurance," CRC TR 224 Discussion Paper Series crctr224_2023_458, University of Bonn and University of Mannheim, Germany.
    25. Gnocato, Nicolò, 2025. "Energy price shocks, unemployment, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 151(C).
    26. Juergen Jung & Chung Tran, 2018. "Optimal Progressive Income Taxation in a Bewley-Grossman Framework," ANU Working Papers in Economics and Econometrics 2018-662, Australian National University, College of Business and Economics, School of Economics.
    27. François Le Grand & Xavier Ragot, 2020. "Managing Inequality over Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," Working Papers hal-03476095, HAL.
    28. Matusche, Alexander, 2025. "The short-run employment effects of public infrastructure investment," European Economic Review, Elsevier, vol. 177(C).
    29. Woo, Jinhee, 2023. "The power of forward guidance: The role of social transfer," Economic Modelling, Elsevier, vol. 126(C).
    30. Sushant Acharya & Keshav Dogra, 2018. "Understanding HANK: Insights from a PRANK," 2018 Meeting Papers 539, Society for Economic Dynamics.
    31. Shahnazarian, Hovick, 2025. "Designing fiscal stabilization rules," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 1436-1451.
    32. Dengler, Thomas & Gehrke, Britta & Zessner-Spitzenberg, Leopold, 2024. "Short-Time Work and Precautionary Savings," ECON WPS - Working Papers in Economic Theory and Policy 02/2024, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    33. Popp, Aaron, 2017. "Unemployment insurance in a three-state model of the labor market," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 142-157.
    34. Juergen Jung & Chung Tran, 2017. "Health Risk, Insurance and Optimal Progressive Income Taxation," Working Papers 2017-01, Towson University, Department of Economics, revised Nov 2022.
    35. Kopiec, Pawel, 2019. "Household Heterogeneity and the Value of Government Spending Multiplier: an Analytical Characterization," MPRA Paper 93499, University Library of Munich, Germany.
    36. Miguel Faria-e-Castro, 2020. "Fiscal Policy during a Pandemic," Working Papers 2020-006, Federal Reserve Bank of St. Louis, revised Feb 2021.
    37. Eran B. Hoffmann & Mr. Davide Malacrino, 2018. "Employment Time and the Cyclicality of Earnings Growth," IMF Working Papers 2018/115, International Monetary Fund.
    38. Albertini, Julien & Auray, Stéphane & Bouakez, Hafedh & Eyquem, Aurélien, 2021. "Taking off into the wind: Unemployment risk and state-Dependent government spending multipliers," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 990-1007.

  28. Reis, Ricardo, 2016. "QE in the future: the central bank's balancesheet in a fiscal crisis," LSE Research Online Documents on Economics 67210, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Reis, Ricardo, 2016. "Funding quantitative easing to target inflation," LSE Research Online Documents on Economics 67883, London School of Economics and Political Science, LSE Library.
    2. Francesco Paolo Mongelli & Gonzalo Camba-Mendez, 2018. "The Financial Crisis and Policy Responses in Europe (2007–2018)," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(4), pages 531-558, December.
    3. Donato Masciandaro, 2016. "More than the Human Appendix: Fed Capital and Central Bank Financial Independence," BAFFI CAREFIN Working Papers 1635, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Andrew Bailey & Jonathan Bridges & Richard Harrison & Josh Jones & Aakash Mankodi, 2020. "The central bank balance sheet as a policy tool: past, present and future," Bank of England Staff Working Paper series 899, Bank of England.
    5. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    6. Francesco Bianchi & Leonardo Melosi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," NBER Working Papers 23605, National Bureau of Economic Research, Inc.
    7. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy And Psychology," BAFFI CAREFIN Working Papers 19105, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    8. van Riet, Ad, 2017. "Monetary Policy Stretched to the Limit: How Could Governments Support the European Central Bank?," MPRA Paper 83451, University Library of Munich, Germany.
    9. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    10. Robert J. Kurtzman & David Zeke, 2017. "Misallocation Costs of Digging Deeper into the Central Bank Toolkit," Finance and Economics Discussion Series 2017-076, Board of Governors of the Federal Reserve System (U.S.).
    11. Favaretto, Federico & Masciandaro, Donato, 2016. "Doves, hawks and pigeons: Behavioral monetary policy and interest rate inertia," Journal of Financial Stability, Elsevier, vol. 27(C), pages 50-58.
    12. Christophe Blot & Jérôme Creel & Emmanuelle Faure & Paul Hubert, 2020. "Setting New Priorities for the ECB’s Mandate," Sciences Po Economics Publications (main) hal-03389186, HAL.
    13. Jean Barthélemy & Guillaume Plantin, 2019. "Fiscal and Monetary Regimes: A Strategic Approach," Working papers 742, Banque de France.
    14. Peter Spahn, 2016. "Central Bank Design in a Non-optimal Currency Union A Lender of Last Resort for Government Debt?," ROME Working Papers 201610, ROME Network.
    15. Salvatore Nistico & Pierpaolo Benigno, 2017. "Non-Neutrality of Open Market Operations," 2017 Meeting Papers 574, Society for Economic Dynamics.
    16. Christophe Blot & Jérôme Creel & Paul Hubert, 2017. "What should the ECB "New Normal" look like ?," Sciences Po Economics Publications (main) hal-03567432, HAL.
    17. Hanno Kase & Leonardo Melosi & Sebastian Rast & Matthias Rottner, 2026. "The perils of narrowing fiscal spaces," BIS Working Papers 1328, Bank for International Settlements.
    18. Dimitris Malliaropulos & Petros Migiakis, 2018. "Quantitative easing and sovereign bond yields: a global perspective," Working Papers 253, Bank of Greece.
    19. Francesco Bianchi & Leonardo Melosi & Anna Rogantini Picco, 2022. "Who is Afraid of Eurobonds?," Working Paper Series WP 2022-43, Federal Reserve Bank of Chicago.
    20. Burlon, Lorenzo & Notarpietro, Alessandro & Pisani, Massimiliano, 2019. "Macroeconomic effects of an open-ended asset purchase programme," Journal of Policy Modeling, Elsevier, vol. 41(6), pages 1144-1159.
    21. Alexandre Corhay & Thilo Kind & Howard Kung & Gonzalo Morales, 2021. "Discount Rates, Debt Maturity, and the Fiscal Theory," Staff Working Papers 21-58, Bank of Canada.
    22. Belke, Ansgar & Gros, Daniel, 2021. "QE in the euro area: Has the PSPP benefited peripheral bonds?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 73(C).
    23. Marco Bassetto & Gherardo Gennaro Caracciolo, 2021. "Monetary/Fiscal Interactions with Forty Budget Constraints," Working Papers 788, Federal Reserve Bank of Minneapolis.
    24. Francesco Bianchi & Leonardo Melosi, 2016. "Escaping the Great Recession," Working Paper Series WP-2016-16, Federal Reserve Bank of Chicago.
    25. Christiaan van der Kwaak, 2024. "Monetary financing does not produce miraculous fiscal multipliers," Discussion Papers 2417, Centre for Macroeconomics (CFM).
    26. Vito Polito, 2020. "Nonlinear Business Cycle and Optimal Policy: A VSTAR Perspective," CESifo Working Paper Series 8060, CESifo.
    27. 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.

  29. Markus K. Brunnermeier & Luis Garicano & Philip R. Lane & Marco Pagano & Ricardo Reis & Tano Santos & David Thesmar & Stijn Van Nieuwerburgh & Dimitri Vayanos, 2016. "The sovereign-bank diabolic loop and ESBies," CEP Discussion Papers dp1414, Centre for Economic Performance, LSE.

    Cited by:

    1. Martynova, Natalya & Perotti, Enrico C. & Suárez, Javier, 2020. "Bank capital forbearance and serial gambling," Discussion Papers 56/2020, Deutsche Bundesbank.
    2. Alogoskoufis, Spyros & Langfield, Sam, 2018. "Regulating the doom loop," ESRB Working Paper Series 74, European Systemic Risk Board.
    3. António Afonso & José Alves & Sofia Monteiro, 2024. "Echoes of Instability: How Geopolitical Risks Shape Government Debt Holdings," Working Papers REM 2024/0333, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    4. Atanas Pekanov, 2020. "Die Europäische Währungsunion im Wandel," WIFO Monatsberichte (monthly reports), WIFO, vol. 93(3), pages 165-175, March.
    5. Böhm, Hannes & Eichler, Stefan, 2020. "Avoiding the fall into the loop: Isolating the transmission of bank-to-sovereign distress in the Euro Area," Journal of Financial Stability, Elsevier, vol. 51(C).
    6. Dunne, Peter G., 2018. "Positive Liquidity Spillovers from Sovereign Bond-Backed Securities," Research Technical Papers 5/RT/18, Central Bank of Ireland.
    7. Jappelli, Ruggero & Pelizzon, Loriana & Plazzi, Alberto, 2021. "The core, the periphery, and the disaster: Corporate-sovereign nexus in COVID-19 times," SAFE Working Paper Series 331, Leibniz Institute for Financial Research SAFE.
    8. Hristov, Nikolay & Hülsewig, Oliver & Kolb, Benedikt, 2024. "Macroprudential capital regulation and fiscal balances in the euro area," Journal of International Money and Finance, Elsevier, vol. 143(C).
    9. Crosignani, Matteo, 2021. "Bank capital, government bond holdings, and sovereign debt capacity," Journal of Financial Economics, Elsevier, vol. 141(2), pages 693-704.
    10. José-Luis Peydró [AP BACKUP – NOW EXTERNAL] & Johannes Bubeck & Angela Maddaloni & José-Luis Peydró, 2019. "Negative Monetary Policy Rates and Systemic Banks' Risk-Taking: Evidence from the Euro Area Securities Register," Working Papers 1128, Barcelona School of Economics.
    11. Ivo Arnold, 2021. "An Interest Stabilisation Mechanism to Unburden the ECB," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(5), pages 274-277, September.
    12. Kaufhold, Ann-Katrin & Langenbucher, Katja & Blank, Patrick & Krahnen, Jan Pieter, 2021. "BaFin (in)dependence - a reform proposal," SAFE White Paper Series 82, Leibniz Institute for Financial Research SAFE.
    13. Massimiliano Affinito & Giorgio Albareto & Raffaele Santioni, 2016. "Purchases of sovereign debt securities by Italian banks during the crisis: the role of balance-sheet conditions," Questioni di Economia e Finanza (Occasional Papers) 330, Bank of Italy, Economic Research and International Relations Area.
    14. Liu, Cai, 2021. "The IRB model, bank regulatory arbitrage, and the Eurozone crisis," Journal of International Money and Finance, Elsevier, vol. 116(C).
    15. Arce, Fernando, 2021. "Private Overborrowing under Sovereign Risk," MPRA Paper 113176, University Library of Munich, Germany.
    16. Brunnermeier, Markus K. & Langfield, Sam & Pagano, Marco & Reis, Ricardo & Nieuwerburgh, Stijn Van & Vayanos, Dimitri, 2016. "ESBies: safety in the tranches," LSE Research Online Documents on Economics 86221, London School of Economics and Political Science, LSE Library.
    17. Anand, Kartik & Mankart, Jochen, 2020. "Sovereign risk and bank fragility," Discussion Papers 54/2020, Deutsche Bundesbank.
    18. Thaler, Dominik & Rojas, Luis E., 2024. "The “doom loop” and default incentives," Research Bulletin, European Central Bank, vol. 126.
    19. Everett Grant, 2016. "Exposure to international crises: trade vs. financial contagion," Globalization Institute Working Papers 280, Federal Reserve Bank of Dallas.
    20. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    21. Giancarlo Corsetti & Barry Eichengreen & Galina Hale & Eric Tallman, 2020. "The Euro Crisis in the Mirror of the EMS: How Tying Odysseus to the Mast Avoided the Sirens but Led Him to Charybdis," Open Economies Review, Springer, vol. 31(2), pages 219-236, April.
    22. Marius Clemens & Stefan Gebauer & Tobias König, 2020. "The Macroeconomic Effects of a European Deposit (Re-) Insurance Scheme," Discussion Papers of DIW Berlin 1873, DIW Berlin, German Institute for Economic Research.
    23. Altavilla, Carlo & Pagano, Marco & Simonelli, Saverio, 2016. "Bank exposures and sovereign stress transmission," CFS Working Paper Series 539, Center for Financial Studies (CFS).
    24. Ari, Anil, 2016. "Sovereign risk and bank risk-taking," Working Paper Series 1894, European Central Bank.
    25. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2021. "Debt as Safe Asset," Working Papers 2021-30, Princeton University. Economics Department..
    26. Cutura, Jannic Alexander, 2021. "Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline?," Journal of Financial Stability, Elsevier, vol. 54(C).
    27. Nikolay Hristov & Oliver Hülsewig & Johann Scharler, 2020. "Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus," CESifo Working Paper Series 8178, CESifo.
    28. Baṣkaya, Yusuf Soner & Hardy, Bryan & Kalemli-Özcan, Ṣebnem & Yue, Vivian, 2024. "Sovereign risk and bank lending: Evidence from 1999 Turkish Earthquake," Journal of International Economics, Elsevier, vol. 150(C).
    29. Rant, Vasja & Marinč, Matej & Porenta, Jan, 2021. "Debt and convergence: Evidence from the EU member states," Finance Research Letters, Elsevier, vol. 39(C).
    30. Chirinko, Robert, 2023. "What went wrong? The Puerto Rican debt crisis, the “Treasury Put,” and the failure of market discipline," Journal of Corporate Finance, Elsevier, vol. 80(C).
    31. Capasso, Salvatore & D'Uva, Marcella & Fiorelli, Cristiana & Napolitano, Oreste, 2023. "Cross-border Italian sovereign risk transmission in EMU countries," Economic Modelling, Elsevier, vol. 126(C).
    32. Alessi, Lucia & Balduzzi, Pierluigi & Savona, Roberto, 2019. "Anatomy of a Sovereign Debt Crisis: CDS Spreads and Real-Time Macroeconomic Data," JRC Working Papers in Economics and Finance 2019-03, Joint Research Centre, European Commission.
    33. Meixing Dai & Moïse Sidiropoulos, 2018. "Les trilemmes de la zone euro," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 38(1), pages 27-34, June.
    34. Rojas, Luis E. & Thaler, Dominik, 2024. "The bright side of the doom loop: Banks’ sovereign exposure and default incentives," European Economic Review, Elsevier, vol. 170(C).
    35. José-Luis Peydró & Andrea Polo & Sette Enrico, 2017. "Monetary policy at work: Security and credit application registers evidence," Economics Working Papers 1565, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 2018.
    36. Giuliana, Raffaele, 2022. "Fluctuating bail-in expectations and effects on market discipline, risk-taking and cost of capital," ESRB Working Paper Series 133, European Systemic Risk Board.
    37. Suarez, Javier & Martynova, Natalya & Perotti, Enrico, 2019. "Bank Capital Forbearance," CEPR Discussion Papers 13617, Centre for Economic Policy Research.
    38. Benjamin Hippert & André Uhde & Sascha Tobias Wengerek, 2019. "Determinants of CDS trading on major banks," Working Papers Dissertations 51, Paderborn University, Faculty of Business Administration and Economics.
    39. Meixing Dai, 2020. "La réponse de la BCE face ? la pandémie de Covid-19," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 42(1), pages 5-14, July.
    40. Levieuge, Grégory & Lucotte, Yannick & Pradines-Jobet, Florian, 2021. "The cost of banking crises: Does the policy framework matter?," Journal of International Money and Finance, Elsevier, vol. 110(C).
    41. Agostino Capponi & Felix C. Corell & Joseph E. Stiglitz, 2020. "Optimal Bailouts and the Doom Loop with a Financial Network," NBER Working Papers 27074, National Bureau of Economic Research, Inc.
    42. Ari, A. & Corsetti, G. & Dedola, L., 2018. "Debt Seniority and Sovereign Debt Crises," Cambridge Working Papers in Economics 1831, Faculty of Economics, University of Cambridge.
    43. Neyer, Ulrike & Sterzel, André, 2018. "Preferential treatment of government bonds in liquidity regulation: Implications for bank behaviour and financial stability," DICE Discussion Papers 301, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    44. Tavares, Tiago, 2019. "Labor market distortions under sovereign debt default crises," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    45. Pancotto, Livia & ap Gwilym, Owain & Molyneux, Philip, 2023. "Deal! Market reactions to the agreement on the EU Covid-19 recovery fund," Journal of Financial Stability, Elsevier, vol. 67(C).
    46. Gori, Filippo, 2018. "Dissecting the ‘doom loop’: the bank-sovereign credit risk nexus during the US debt ceiling crisis," MPRA Paper 87994, University Library of Munich, Germany.
    47. Arnold, Ivo J.M., 2023. "Teaching economics of monetary union with the IS-MP-PC model," International Review of Economics Education, Elsevier, vol. 44(C).
    48. Lidija Lovreta & Joaquín López Pascual, 2020. "Structural breaks in the interaction between bank and sovereign default risk," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 11(4), pages 531-559, December.
    49. Pierre-Olivier Gourinchas & Thomas Philippon & Dimitri Vayanos, 2016. "The Analytics of the Greek Crisis," NBER Working Papers 22370, National Bureau of Economic Research, Inc.
    50. Janbaz, M. & Hassan, M.K. & Floreani, J. & Dreassi, A., 2024. "Liquidity pressure and the sovereign-bank diabolic loop," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1039-1057.
    51. Maideu-Morera, Gerard, 2024. "Optimal Fiscal Rules and Macroprudential Policies with Sovereign Default Risk," TSE Working Papers 24-1534, Toulouse School of Economics (TSE).
    52. José-Luis Peydró [AP BACKUP – NOW EXTERNAL] & Victoria Vanasco & Enrico Sette & Andrea Polo & José-Luis Peydró, 2020. "Risk Mitigating versus Risk Shifting: Evidence from Banks Security Trading in Crises," Working Papers 1219, Barcelona School of Economics.
    53. Perea, Maite De Sola & Dunne, Peter G. & Puhl, Martin & Reininger, Thomas, 2018. "Sovereign bond-backed securities: a VAR-for-VaR and Marginal Expected Shortfall assessment," ESRB Working Paper Series 65, European Systemic Risk Board.
    54. Jochem, Axel & Lecomte, Ernest, 2024. "Risky sovereign bond holdings by commercial banks in the euro area: Do safe assets availability and differences in bank funding costs play a role?," Discussion Papers 35/2024, Deutsche Bundesbank.
    55. Dungey, Mardi & Islam, Raisul & Volkov, Vladimir, 2020. "Crisis transmission: Visualizing vulnerability," Pacific-Basin Finance Journal, Elsevier, vol. 59(C).
    56. Taneli M�kinen & Lucio Sarno & Gabriele Zinna, 2019. "Risky bank guarantees," Temi di discussione (Economic working papers) 1232, Bank of Italy, Economic Research and International Relations Area.
    57. Neyer, Ulrike & Sterzel, André, 2017. "Capital requirements for government bonds: Implications for bank behaviour and financial stability," DICE Discussion Papers 275, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    58. Matteo Crosignani & Miguel Faria-e-Castro & Luis Fonseca, 2017. "The (Unintended?) Consequences of the Largest Liquidity Injection Ever," Working Papers 2017-039, Federal Reserve Bank of St. Louis.
    59. Diana Bonfim & João A. C. Santos, 2020. "The importance of deposit insurance credibility," Working Papers w202011, Banco de Portugal, Economics and Research Department.
    60. Patrycja Klusak & Moritz Kraemer & Huong Vu, 2022. "First‐mover disadvantage: the sovereign ratings mousetrap," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 31(1), pages 3-44, February.
    61. Orkun Saka, 2019. "Domestic Banks as Lightning Rods? Home Bias and Information during the Eurozone Crisis," CESifo Working Paper Series 7939, CESifo.
    62. Theobald, Thomas & Tober, Silke, 2020. "Euro area sovereign yield spreads as determinants of private sector borrowing costs," Economic Modelling, Elsevier, vol. 84(C), pages 27-37.
    63. Rancan, Michela & Cariboni, Jessica & Keasey, Kevin & Vallascas, Francesco, 2023. "Bond issuance and the funding choices of European banks: The consequences of public debt," Journal of Empirical Finance, Elsevier, vol. 74(C).
    64. Gomez-Gonzalez, Patricia, 2019. "Public debt structure and liquidity provision," Journal of International Economics, Elsevier, vol. 117(C), pages 51-60.
    65. Codogno, Lorenzo & van den Noord, Paul, 2020. "Assessing Next Generation EU," LSE Research Online Documents on Economics 124237, London School of Economics and Political Science, LSE Library.
    66. Carlos Giraldo & Iader Giraldo & Jose E. Gomez-Gonzalez & Jorge M. Uribe, 2025. "R&D Investment and Financial Stability," Documentos de trabajo 21327, FLAR.
    67. Mardi Dungey & Stan Hurn & Shuping Shi & Vladimir Volkov, 2019. "Information Flow in Times of Crisis: The Case of the European Banking and Sovereign Sectors," Econometrics, MDPI, vol. 7(1), pages 1-20, January.
    68. Xuan Wang, 2021. "Bankruptcy Codes and Risk Sharing of Currency Unions," Tinbergen Institute Discussion Papers 21-009/IV, Tinbergen Institute.
    69. Markus K. Brunnermeier & Lunyang Huang, 2018. "A Global Safe Asset for and from Emerging Market Economies," NBER Working Papers 25373, National Bureau of Economic Research, Inc.
    70. Cronin, David & Dunne, Peter G., 2019. "How effective are sovereign bond-backed securities as a spillover prevention device?," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 49-66.
    71. Favero, Carlo A. & Giavazzi, Francesco & Alesina, Alberto, 2019. "Effects of Austerity: Expenditure- and Tax-based Approaches," CEPR Discussion Papers 13565, Centre for Economic Policy Research.
    72. Juan Morelli & Diego Perez & Pablo Ottonello, 2019. "Global Banks and Systemic Debt Crises," 2019 Meeting Papers 644, Society for Economic Dynamics.
    73. Olli Palm'en, 2020. "Sovereign Default Risk and Credit Supply: Evidence from the Euro Area," Papers 2006.03592, arXiv.org.
    74. Pauline AVRIL & Grégory LEVIEUGE & Camélia TURCU, 2021. "Natural Disasters and Financial Stress: Can Macroprudential Regulation Tame Green Swans?," LEO Working Papers / DR LEO 2913, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    75. Cutura, Jannic Alexander, 2018. "Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline?," SAFE Working Paper Series 232, Leibniz Institute for Financial Research SAFE.
    76. Dominik Thaler, 2018. "Sovereign default, domestic banks and exclusion from international capital markets," Working Papers 1824, Banco de España.
    77. Gourinchas, Pierre-Olivier & Philippon, Thomas & Vayanos, Dimitri, 2016. "The analytics of the Greek crisis: celebratory centenary issue," LSE Research Online Documents on Economics 67368, London School of Economics and Political Science, LSE Library.
    78. Ari, Anil, 2018. "Gambling traps," Working Paper Series 2217, European Central Bank.
    79. Snezana Eminidou & Martin Geiger & Marios Zachariadis, 2021. "Public Debt and state-dependent Effects of Fiscal Policy in the Euro Area," University of Cyprus Working Papers in Economics 03-2021, University of Cyprus Department of Economics.
    80. Ioannides, Yannis & Philippon, Presenter Thomas & Gourinchas, Pierre-Olivier & Blanchard, Olivier & Steinsson, Jon & Uhlig, Harald & Alvarez, Fernando & Reis, Ricardo & Klein, Michael, 2017. "The Analytics of the Greek Crisis Discussion," Department of Economics, Working Paper Series qt4z39g6vx, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    81. Hongjie Pan & Hong Fan, 2024. "Systemic Risk Arising from Shadow Banking and Sustainable Development: A Study of Wealth Management Products in China," Sustainability, MDPI, vol. 16(10), pages 1-26, May.
    82. Orkun Saka, 2017. "Domestic banks as lightning rods? Home bias during the Eurozone crisis," LEQS – LSE 'Europe in Question' Discussion Paper Series 122, European Institute, LSE.
    83. Kraemer, Moritz & Klusak, Patrycja & Vu, Huong, 2020. "First-mover disadvantage - The sovereign ratings mousetrap," CEPS Papers 26352, Centre for European Policy Studies.
    84. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2020. "A Safe Asset Perspective for an Integrated Policy Framework," Working Papers 2020-58, Princeton University. Economics Department..
    85. Occhino, Filippo, 2017. "The 2012 eurozone crisis and the ECB’s OMT program: A debt-overhang banking and sovereign crisis interpretation," European Economic Review, Elsevier, vol. 100(C), pages 337-363.
    86. Vivek Sharma & Edgar Silgado-Gómez, 2019. "Sovereign Spread Volatility and Banking Sector," CEIS Research Paper 454, Tor Vergata University, CEIS, revised 08 Mar 2019.
    87. Valerio Della Corte & Stefano Federico, 2019. "Two tales of foreign investor outflows: Italy in 2011-2012 and 2018," Questioni di Economia e Finanza (Occasional Papers) 535, Bank of Italy, Economic Research and International Relations Area.
    88. Juliusz Jabłecki, 2018. "Instrumenty zabezpieczone obligacjami skarbowymi: próba wyceny i analizy ryzyka," Bank i Kredyt, Narodowy Bank Polski, vol. 49(4), pages 379-404.
    89. Andrea Camilli & Marta Giagheddu, 2020. "Public debt and crowding-out: the role of housing wealth," Working Papers 441, University of Milano-Bicocca, Department of Economics, revised Oct 2020.
    90. Li Zongcheng, 2019. "Paradigm of Historical Axiomatism Beyond New Institutionalism: Rebuilt of Management (I) for New Civilization," Paradigm, , vol. 23(2), pages 175-196, December.
    91. Afonso, António & Alves, José & Monteiro, Sofia, 2024. "Banks’ portfolio of government debt and sovereign risk: From safe havens to stormy seas," Finance Research Letters, Elsevier, vol. 70(C).
    92. Silva, Felipe Bastos Gurgel, 2021. "Fiscal Deficits, Bank Credit Risk, and Loan-Loss Provisions," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 56(5), pages 1537-1589, August.
    93. Helge Berger & Giovanni Dell’Ariccia & Maurice Obstfeld, 2019. "Revisiting the Economic Case for Fiscal Union in the Euro Area," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(3), pages 657-683, September.
    94. Dominik Thaler & Luis E. Rojas, 2020. "The Bright Side of the Doom Loop: Banks Exposure and Default Incentives," Working Papers 1143, Barcelona School of Economics.
    95. Nadal De Simone, Francisco, 2021. "Measuring the deadly embrace: Systemic and sovereign risks," Research in International Business and Finance, Elsevier, vol. 56(C).

  30. Robert E. Hall & Ricardo Reis, 2016. "Achieving Price Stability by Manipulating the Central Bank's Payment on Reserves," Discussion Papers 1634, Centre for Macroeconomics (CFM).

    Cited by:

    1. Jean Barthélemy & Eric Mengus, 2017. "Credibility and Monetary Policy," Working Papers hal-03457527, HAL.
    2. Gaballo, Gaetano & Mengus, Eric, 2023. "Myopic fiscal objectives and long-Run monetary efficiency," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 1-17.
    3. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    4. George J. Bratsiotis, 2021. "Interest on Reserves as a Main Monetary Policy Tool," Economics Discussion Paper Series 2102, Economics, The University of Manchester, revised Feb 2022.
    5. Jean Barthélemy & Eric Mengus, 2018. "Monetary Rules, Determinacy and Limited Enforcement," Working papers 700, Banque de France.
    6. Reis, Ricardo, 2023. "What can keep euro area inflation high?," LSE Research Online Documents on Economics 120728, London School of Economics and Political Science, LSE Library.
    7. George Bratsiotis, 2018. "Credit Risk, Excess Reserves and Monetary Policy: The Deposits Channel," Centre for Growth and Business Cycle Research Discussion Paper Series 243, Economics, The University of Manchester.
    8. Benigno, Pierpaolo, 2017. "A Central Bank Theory of Price Level Determination," CEPR Discussion Papers 11966, Centre for Economic Policy Research.
    9. Emanuele Franceschi, 2020. "Taylor Rules and liquidity in financial markets," PSE Working Papers halshs-02978550, HAL.
    10. Laura Castillo-Martinez & Ricardo Reis, 2024. "How do central banks control inflation? A guide for the perplexed," Discussion Papers 2433, Centre for Macroeconomics (CFM).
    11. Ricardo Reis, 2018. "Central Banks Going Long," Discussion Papers 1810, Centre for Macroeconomics (CFM).
    12. George J. Bratsiotis, 2018. "Credit Risk, Excess Reserves and Monetary Policy: The Deposits," Centre for Growth and Business Cycle Research Discussion Paper Series 236, Economics, The University of Manchester.
    13. Barthelemy, Jean & Mengus, Eric, 2024. "Time-consistent implementation in macroeconomic games," Theoretical Economics, Econometric Society, vol. 19(3), July.
    14. Holden, Tom D., 2024. "Robust Real Rate Rules," EconStor Preprints 279481, ZBW - Leibniz Information Centre for Economics, revised 2024.
    15. Keshav Dogra, 2024. "Paradoxes and Problems in the Causal Interpretation of Equilibrium Economics," Staff Reports 1093, Federal Reserve Bank of New York.
    16. Magill, Michael & Quinzii, Martine & Rochet, Jean-Charles, 2020. "The safe asset, banking equilibrium, and optimal central bank monetary, prudential and balance-sheet policies," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 113-128.

  31. Ricardo Reis, 2016. "Funding Quantitative Easing to Target Inflation," Discussion Papers 1626, Centre for Macroeconomics (CFM).

    Cited by:

    1. Óscar Arce & Galo Nuño & Dominik Thaler & Carlos Thomas, 2018. "A large central bank balance sheet? floor vs corridor systems in a new keynesian environment," Working Papers 1851, Banco de España.
    2. Boris Chafwehé & Charles de Beauffort & Rigas Oikonomou, 2022. "Optimal Monetary Policy Rules in the Fiscal Theory of the Price Level," LIDAM Discussion Papers IRES 2022026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    3. Robert E. Hall & Ricardo Reis, 2016. "Achieving Price Stability by Manipulating the Central Bank’s Payment on Reserves," NBER Working Papers 22761, National Bureau of Economic Research, Inc.
    4. Ricardo Reis, 2017. "Is Something Really Wrong with Macroeconomics?," Discussion Papers 1713, Centre for Macroeconomics (CFM).
    5. Berentsen, Aleksander & Kraenzlin, Sébastien & Müller, Benjamin, 2018. "Exit strategies for monetary policy," Journal of Monetary Economics, Elsevier, vol. 99(C), pages 20-40.
    6. Reis, Ricardo, 2017. "Can the central bank alleviate fiscal burdens?," LSE Research Online Documents on Economics 74324, London School of Economics and Political Science, LSE Library.
    7. Reis, Ricardo, 2018. "Comment on "Michelson-Morley, Fisher, and Occam: the radical implications of stable quiet inflation at the zero bound"," LSE Research Online Documents on Economics 85665, London School of Economics and Political Science, LSE Library.
    8. 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.
    9. Piazzesi, Monika & Lenel, Moritz & Schneider, Martin, 2019. "The Short Rate Disconnect in a Monetary Economy," CEPR Discussion Papers 13947, Centre for Economic Policy Research.
    10. Ruchir Agarwal & Miles Kimball, 2019. "Enabling Deep Negative Rates to Fight Recessions: A Guide," IMF Working Papers 2019/084, International Monetary Fund.
    11. Pawe³ Œliwiñski, 2023. "Endogenous money supply, global liquidity and financial transactions: Panel evidence from OECD countries," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 18(1), pages 121-152, March.
    12. Mankiw, N. Gregory & Reis, Ricardo, 2017. "Friedman's presidential address in the evolution of macroeconomic thought," LSE Research Online Documents on Economics 87163, London School of Economics and Political Science, LSE Library.
    13. Ricardo Reis, 2018. "Central Banks Going Long," Discussion Papers 1810, Centre for Macroeconomics (CFM).
    14. Chafwehé, Boris & de Beauffort, Charles & Oikonomou, Rigas, 2026. "Managing the inflation-output trade-off with public debt portfolios," Journal of Economic Dynamics and Control, Elsevier, vol. 183(C).
    15. Vadim Elenev & Tim Landvoigt & Patrick J. Shultz & Stijn Van Nieuwerburgh, 2021. "Can Monetary Policy Create Fiscal Capacity?," NBER Working Papers 29129, National Bureau of Economic Research, Inc.
    16. Kolozsi, Pál Péter & Horváth, Gábor, 2020. "Mennyit ér a likviditás?. A magyar bankrendszer likviditáskeresleti függvényének becslése [How much are reserves worth? Estimating interbank liquidity demand in Hungary]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 113-139.
    17. Boris Chafwehé & Rigas Oikonomou & Romanos Priftis & Lukas Vogel, 2022. "Optimal Monetary Policy with and without Debt," LIDAM Discussion Papers IRES 2022027, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    18. Thomas M. Mertens & John C. Williams, 2020. "What to Expect from the Lower Bound on Interest Rates: Evidence from Derivatives Prices," Working Paper Series 2018-03, Federal Reserve Bank of San Francisco.
    19. Anne-Marie Rieu-Foucault, 2018. "Les interventions de crise de la FED et de la BCE diffèrent-elles ?," EconomiX Working Papers 2018-31, University of Paris Nanterre, EconomiX.
    20. Goodhart, Charles, 2017. "A Central Bank’s optimal balance sheet size?," LSE Research Online Documents on Economics 84205, London School of Economics and Political Science, LSE Library.
    21. Williamson, Stephen D., 2019. "Interest on reserves, interbank lending, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 101(C), pages 14-30.
    22. Fatouh, Mahmoud & Markose, Sheri & Giansante, Simone, 2021. "The impact of quantitative easing on UK bank lending: Why banks do not lend to businesses?," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 928-953.
    23. Mark A. Carlson & Burcu Duygan-Bump, 2018. "“Unconventional” Monetary Policy as Conventional Monetary Policy : A Perspective from the U.S. in the 1920s," Finance and Economics Discussion Series 2018-019, Board of Governors of the Federal Reserve System (U.S.).
    24. Ennis, Huberto M., 2018. "A simple general equilibrium model of large excess reserves," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 50-65.
    25. Diba, Behzad & Loisel, Olivier, 2021. "Pegging the interest rate on bank reserves: A resolution of New Keynesian puzzles and paradoxes," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 230-244.
    26. Gabriel Stein, 2018. "The Challenges for Central Banks," Economic Affairs, Wiley Blackwell, vol. 38(1), pages 131-138, February.
    27. Magill, Michael & Quinzii, Martine & Rochet, Jean-Charles, 2020. "The safe asset, banking equilibrium, and optimal central bank monetary, prudential and balance-sheet policies," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 113-128.
    28. R. Wouters, 2016. "The transmission mechanism of new and traditional instruments of monetary and macroprudential policy," Economic Review, National Bank of Belgium, issue iii, pages 105-117, December.
    29. Egemen Eren & Timothy Jackson & Giovanni Lombardo, 2024. "The macroprudential role of central bank balance sheets," Working Papers 202408, University of Liverpool, Department of Economics.
    30. Egemen Eren & Timothy Jackson & Giovanni Lombardo, 2024. "The macroprudential role of central bank balance sheets," BIS Working Papers 1173, Bank for International Settlements.
    31. Beltran, Daniel O. & Bolotnyy, Valentin & Klee, Elizabeth, 2021. "The federal funds network and monetary policy transmission: Evidence from the 2007–2009 financial crisis," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 187-202.

  32. Markus K. Brunnermeier & Sam Langfield & Marco Pagano & Ricardo Reis & Stijn Van Nieuwerburgh & Dimitri Vayanos, 2016. "ESBies: Safety in the tranches," Discussion Papers 1627, Centre for Macroeconomics (CFM).
    • Markus K. Brunnermeier & Sam Langfield & Marco Pagano & Ricardo Reis & Stijn Van Nieuwerburgh & Dimitri Vayanos, 2017. "ESBies: safety in the tranches," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 32(90), pages 175-219.

    Cited by:

    1. Alogoskoufis, Spyros & Langfield, Sam, 2018. "Regulating the doom loop," ESRB Working Paper Series 74, European Systemic Risk Board.
    2. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819.
    3. Dunne, Peter G., 2018. "Positive Liquidity Spillovers from Sovereign Bond-Backed Securities," Research Technical Papers 5/RT/18, Central Bank of Ireland.
    4. Koetter, Michael & Krause, Thomas & Tonzer, Lena, 2019. "Delay determinants of European Banking Union implementation," European Journal of Political Economy, Elsevier, vol. 58(C), pages 1-20.
    5. Christophe Destais & Frederik Eidam & Friedrich Heinemann, 2019. "The design of a sovereign debt restructuring mechanism for the euro area: Choices and trade-offs," EconPol Policy Reports 11, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    6. Kevin Pallara & Jean-Paul Renne, 2024. "Fiscal Limits and the Pricing of Eurobonds," Management Science, INFORMS, vol. 70(2), pages 1216-1237, February.
    7. Doris Prammer & Lukas Reiss, 2018. "How to increase fiscal stabilization at the euro area level?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 111-131.
    8. Andritzky, Jochen & Christofzik, Désirée I. & Feld, Lars P. & Scheuering, Uwe, 2018. "A mechanism to regulate sovereign debt restructuring in the euro area," Freiburg Discussion Papers on Constitutional Economics 18/01, Walter Eucken Institut e.V..
    9. Giudice, Gabriele & de Manuel Aramendía, Mirzha & Kontolemis, Zenon & Monteiro, Daniel P., 2019. "A European safe asset to complement national government bonds," MPRA Paper 95748, University Library of Munich, Germany.
    10. van Riet, Ad, 2017. "Monetary Policy Stretched to the Limit: How Could Governments Support the European Central Bank?," MPRA Paper 83451, University Library of Munich, Germany.
    11. Lannoo, Karel & Thomadakis, Apostolos, 2019. "Rebranding Capital Markets Union: A market finance action plan," ECMI Papers 500, Centre for European Policy Studies.
    12. Ricardo J. Caballero & Alp Simsek, 2016. "A Model of Fickle Capital Flows and Retrenchment," NBER Working Papers 22751, National Bureau of Economic Research, Inc.
    13. Thaler, Dominik & Rojas, Luis E., 2024. "The “doom loop” and default incentives," Research Bulletin, European Central Bank, vol. 126.
    14. Pierre Jaillet & Christian Pfister, 2022. "Better Fiscal Rules for a More Integrated EMU," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(6), pages 377-383, November.
    15. Clemens Fuest & Klaus Gründler & Niklas Potrafke & Marcel Fratzscher & Alexander Kriwoluzky & Claus Michelsen & Michael Hüther & Peter Bofinger & Lars P. Feld & Wolf Heinrich Reuter, 2019. "Schuldenbremse — Investitionshemmnis oder Vorbild für Europa? [Debt Brake — Investment Barrier or Role Model for Europe?]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 99(5), pages 307-329, May.
    16. Alloza, Mario & Andrés, Javier & Pérez, Javier J. & Rojas, Juan A., 2020. "Implicit public debt thresholds: An operational proposal," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1408-1424.
    17. Diniz, Andre & Guimaraes, Bernardo, 2017. "How diabolic is the sovereign-bank loop? The effects of post-default fiscal policies," LSE Research Online Documents on Economics 86169, London School of Economics and Political Science, LSE Library.
    18. De Grauwe, Paul & Ji, Yuemei, 2019. "Making the Eurozone sustainable by financial engineering or political union," LSE Research Online Documents on Economics 102045, London School of Economics and Political Science, LSE Library.
    19. Bletzinger, Tilman & Greif, William & Schwaab, Bernd, 2022. "Can EU bonds serve as euro-denominated safe assets?," Working Paper Series 2712, European Central Bank.
    20. Ricardo J. Caballero & Emmanuel Farhi & Pierre-Olivier Gourinchas, 2017. "The Safe Assets Shortage Conundrum," Journal of Economic Perspectives, American Economic Association, vol. 31(3), pages 29-46, Summer.
    21. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2021. "Debt as Safe Asset," Working Papers 2021-30, Princeton University. Economics Department..
    22. Paul De Grauwe & Yuemei Ji, 2020. "The Quest to Stabilize an Unstable System by Financial Engineering. Reply to Sam Langfield," Journal of Common Market Studies, Wiley Blackwell, vol. 58(S1), pages 1-5, September.
    23. Rojas, Luis E. & Thaler, Dominik, 2024. "The bright side of the doom loop: Banks’ sovereign exposure and default incentives," European Economic Review, Elsevier, vol. 170(C).
    24. Micossi, Stefano & Peirce, Fabrizia, 2020. "Overcoming the gridlock in EMU decision-making," CEPS Papers 26688, Centre for European Policy Studies.
    25. Bodo Herzog, 2020. "Whither Coronabonds? The Past and Future of the EMU in the Coronavirus Pandemic," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(3), pages 155-159, May.
    26. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    27. Massimo Amato & Everardo Belloni & Carlo A. Favero & Lucio Gobbi & Francesco Saraceno, 2024. "Stabilising market expectations through a market tool: a proposal for an enhanced TPI," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(2), pages 597-615, July.
    28. Bletzinger, Tilman & Greif, William & Schwaab, Bernd, 2023. "The safe asset potential of EU-issued bonds," Research Bulletin, European Central Bank, vol. 103.
    29. Ari, A. & Corsetti, G. & Dedola, L., 2018. "Debt Seniority and Sovereign Debt Crises," Cambridge Working Papers in Economics 1831, Faculty of Economics, University of Cambridge.
    30. Pancotto, Livia & ap Gwilym, Owain & Molyneux, Philip, 2023. "Deal! Market reactions to the agreement on the EU Covid-19 recovery fund," Journal of Financial Stability, Elsevier, vol. 67(C).
    31. Sam Langfield, 2020. "Bridge over Troubled Monetary Union: A Reply to De Grauwe & Ji," Journal of Common Market Studies, Wiley Blackwell, vol. 58(S1), pages 1-10, September.
    32. Adlane Haffar & Éric Le Fur & Mohamed Khordj, 2023. "Securitization of pandemic risk by using coronabond," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 37(2), pages 209-229, June.
    33. Daniel Monteiro, 2023. "Macrofinancial Dynamics in a Monetary Union," European Economy - Discussion Papers 188, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    34. Jean Dermine, 2020. "Banks' home bias in government bond holdings: Will banks in low‐rated countries invest in European safe bonds (ESBies)?," European Financial Management, European Financial Management Association, vol. 26(4), pages 841-858, September.
    35. van Riet, Ad, 2017. "Addressing the safety trilemma: a safe sovereign asset for the eurozone," ESRB Working Paper Series 35, European Systemic Risk Board.
    36. Philip R. Lane, 2021. "The Resilience of the Euro," Journal of Economic Perspectives, American Economic Association, vol. 35(2), pages 3-22, Spring.
    37. Perea, Maite De Sola & Dunne, Peter G. & Puhl, Martin & Reininger, Thomas, 2018. "Sovereign bond-backed securities: a VAR-for-VaR and Marginal Expected Shortfall assessment," ESRB Working Paper Series 65, European Systemic Risk Board.
    38. Gabriella Chiesa, 2020. "Safe Assets, Credit Provision and Debt Management," Open Economies Review, Springer, vol. 31(3), pages 637-667, July.
    39. Sewon Hur & C sar Sosa-Padilla & Zeynep Yom, 2021. "Optimal Bailouts in Banking and Sovereign Crises," Villanova School of Business Department of Economics and Statistics Working Paper Series 49, Villanova School of Business Department of Economics and Statistics.
    40. Badarau, Cristina & Huart, Florence & Sangaré, Ibrahima, 2021. "Macroeconomic and policy implications of eurobonds," International Review of Law and Economics, Elsevier, vol. 65(C).
    41. Orphanides, Athanasios, 2017. "The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound," CEPR Discussion Papers 12039, Centre for Economic Policy Research.
    42. Pasche, Markus, 2017. "ESBies as a Basis for a TARGET2 Settlement Mechanism," MPRA Paper 83012, University Library of Munich, Germany.
    43. Lucas Guttenberg & Johannes Hemker & Sander Tordoir, 2021. "Alles wird anders — Wie die Pandemie die EU-Finanzarchitektur verändert," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(2), pages 90-94, February.
    44. Panizza, Ugo & Fatás, Antonio & Ghosh, Atish R. & ,, 2019. "The Motives to Borrow," CEPR Discussion Papers 13735, Centre for Economic Policy Research.
    45. Jean Pisani-Ferry, 2018. "Euro area reform: An anatomy of the debate," Sciences Po Economics Publications (main) hal-03391908, HAL.
    46. Frey, Rüdiger & Kurt, Kevin & Damian, Camilla, 2020. "How safe are european safe bonds? An analysis from the perspective of modern credit risk models," Journal of Banking & Finance, Elsevier, vol. 119(C).
    47. Ugo Panizza, 2026. "Eurobonds and the European Debt Trilemma," IHEID Working Papers 15-2026, Economics Section, The Graduate Institute of International Studies.
    48. Carlos Giraldo & Iader Giraldo & Jose E. Gomez-Gonzalez & Jorge M. Uribe, 2025. "R&D Investment and Financial Stability," Documentos de trabajo 21327, FLAR.
    49. Markus K. Brunnermeier & Lunyang Huang, 2018. "A Global Safe Asset for and from Emerging Market Economies," NBER Working Papers 25373, National Bureau of Economic Research, Inc.
    50. Cronin, David & Dunne, Peter G., 2019. "How effective are sovereign bond-backed securities as a spillover prevention device?," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 49-66.
    51. Cinthia De Souza, 2026. "Sovereign bondholders and the Eurozone core-periphery divide: from the debt crisis to the quantitative tightening," Review of Evolutionary Political Economy, Springer, vol. 7(1), pages 1-28, December.
    52. Janse Kalin Anev, 2023. "Developing European Safe Assets," Intereconomics: Review of European Economic Policy, Paradigm, vol. 58(6), pages 315-319, December.
    53. Billio, Monica & Caporin, Massimiliano & Frattarolo, Lorenzo & Pelizzon, Loriana, 2023. "Networks in risk spillovers: A multivariate GARCH perspective," Econometrics and Statistics, Elsevier, vol. 28(C), pages 1-29.
    54. Beck, Thorsten & Da-Rocha-Lopes, Samuel & Silva, Andre F., 2017. "Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins," CEPR Discussion Papers 12058, Centre for Economic Policy Research.
    55. Gomez-Gonzalez, Jose E. & Uribe, Jorge M. & Valencia, Oscar M. & Kim, Bum, 2025. "Doom loops in Latin America," Emerging Markets Review, Elsevier, vol. 68(C).
    56. Bofinger, Peter & Schnabel, Isabel & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2017. "Für eine zukunftsorientierte Wirtschaftspolitik. Jahresgutachten 2017/18 [Towards a Forward-Looking Economic Policy. Annual Report 2017/18]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201718.
    57. Massimo Amato & Everardo Belloni & Paolo Falbo & Lucio Gobbi, 2021. "Europe, public debts, and safe assets: the scope for a European Debt Agency," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(3), pages 823-861, October.
    58. Matteo Salto & Stefano Zedda & Stefan Zeugner, 2020. "Using Supra-Covered Bonds to Enhance Liquidity in the Euro Area: Assessment of Advantages for the Banking Sector," JRFM, MDPI, vol. 13(12), pages 1-10, November.
    59. Micossi, Stefano, 2017. "A Blueprint for Completing the Banking Union," CEPS Papers 13212, Centre for European Policy Studies.
    60. Dimitris A. Georgoutsos & Petros M. Migiakis, 2018. "Risk perceptions and fundamental effects on sovereign spreads," Working Papers 250, Bank of Greece.
    61. Giovanni Bonfanti & Juri Marcucci, 2026. "A European safe asset? Not without the investors," Questioni di Economia e Finanza (Occasional Papers) 1010, Bank of Italy, Economic Research and International Relations Area.
    62. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2020. "A Safe Asset Perspective for an Integrated Policy Framework," Working Papers 2020-58, Princeton University. Economics Department..
    63. Ekaterina Bakhmeteva & Alexey Ponomarenko, 2026. "Sovereign risk mitigation mechanism in emerging markets," Papers 2603.22956, arXiv.org, revised May 2026.
    64. Mario Tonveronachi, 2018. "European Sovereign Bond-Backed Securities: An Assessment and an Alternative Proposal," Economics Public Policy Brief Archive ppb_145, Levy Economics Institute.
    65. Juliusz Jabłecki, 2018. "Instrumenty zabezpieczone obligacjami skarbowymi: próba wyceny i analizy ryzyka," Bank i Kredyt, Narodowy Bank Polski, vol. 49(4), pages 379-404.
    66. Álvaro Leandro & Jeromin Zettelmeyer, 2019. "Creating a Euro Area Safe Asset without Mutualizing Risk (Much)," CESifo Working Paper Series 7766, CESifo.
    67. Pompeo Della Posta & Enrico Marelli & Marcello Signorelli, 2020. "A market‐financed and growth‐enhancing investment plan for the euro area," Metroeconomica, Wiley Blackwell, vol. 71(3), pages 604-632, July.
    68. De Grauwe, Paul & Ji, Yuemei, 2018. "Core-periphery relations in the Eurozone," LSE Research Online Documents on Economics 91328, London School of Economics and Political Science, LSE Library.
    69. Gibson, Heather D. & Hall, Stephen G. & Petroulas, Pavlos & Tavlas, George S., 2022. "An investigation into feedback and spatial relationships between banks’ share prices and sovereign bond spreads during the euro crisis," Journal of Financial Stability, Elsevier, vol. 63(C).
    70. Jean Pisani-Ferry, 2018. "Euro area reform: An anatomy of the debate," Post-Print hal-03391908, HAL.

  33. Ricardo Reis, 2016. "QE in the future: the central bank's balance sheet in a financial crisis," Discussion Papers 1620, Centre for Macroeconomics (CFM).

    Cited by:

    1. Donato Masciandaro, 2016. "More than the Human Appendix: Fed Capital and Central Bank Financial Independence," BAFFI CAREFIN Working Papers 1635, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    2. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    3. Favaretto, Federico & Masciandaro, Donato, 2016. "Doves, hawks and pigeons: Behavioral monetary policy and interest rate inertia," Journal of Financial Stability, Elsevier, vol. 27(C), pages 50-58.
    4. Reis, Ricardo, 2017. "Can the central bank alleviate fiscal burdens?," LSE Research Online Documents on Economics 74324, London School of Economics and Political Science, LSE Library.
    5. Francesco Bianchi & Leonardo Melosi & Anna Rogantini Picco, 2022. "Who is Afraid of Eurobonds?," Working Paper Series WP 2022-43, Federal Reserve Bank of Chicago.
    6. Francesco Bianchi & Leonardo Melosi, 2016. "Escaping the Great Recession," Working Paper Series WP-2016-16, Federal Reserve Bank of Chicago.
    7. Bianchi, Francesco & Faccini, Renato & Melosi, Leonardo, 2020. "Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength," CEPR Discussion Papers 14720, Centre for Economic Policy Research.
    8. Ricardo Reis, 2016. "Funding Quantitative Easing to Target Inflation," Discussion Papers 1626, Centre for Macroeconomics (CFM).

  34. Hall, Robert, 2015. "Maintaining Central-Bank Financial Stability under New-Style Central Banking," CEPR Discussion Papers 10741, Centre for Economic Policy Research.

    Cited by:

    1. Aldridge, Patrick & Cimon, David & Vala, Rishi, 2025. "Central Bank Crisis Interventions: A Review of the Recent Literature on Potential Costs," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 7(4), pages 1-26, April.
    2. Reis, Ricardo, 2016. "Funding quantitative easing to target inflation," LSE Research Online Documents on Economics 67883, London School of Economics and Political Science, LSE Library.
    3. Donato Masciandaro, 2016. "More than the Human Appendix: Fed Capital and Central Bank Financial Independence," BAFFI CAREFIN Working Papers 1635, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    4. Michele Cavallo & Marco Del Negro & W. Scott Frame & Jamie Grasing & Benjamin A. Malin & Carlo Rosa, 2018. "Fiscal Implications of the Federal Reserve's Balance Sheet Normalization," Finance and Economics Discussion Series 2018-002, Board of Governors of the Federal Reserve System (U.S.).
    5. José Miguel Cardoso da Costa & Nuno Silva, 2023. "A novel decomposition of national central banks’ profits in the euro area: application to the case of Banco de Portugal," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    6. Jakob Haan & Christina Bodea & Raymond Hicks & Sylvester C. W. Eijffinger, 2018. "Central Bank Independence Before and After the Crisis," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(2), pages 183-202, June.
    7. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    8. Dirk Niepelt, 2020. "Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics," CESifo Working Paper Series 8712, CESifo.
    9. Martin Hellwig, 2019. "Target-Falle oder Empörungsfalle? – Zur deutschen Diskussion um die Europäische Währungsunion," Discussion Paper Series of the Max Planck Institute for Behavioral Economics 2019_05, Max Planck Institute for Behavioral Economics.
    10. Giovanardi, Francesco & Kaldorf, Matthias & Radke, Lucas & Wicknig, Florian, 2022. "The preferential treatment of green bonds," Discussion Papers 51/2022, Deutsche Bundesbank.
    11. Óscar Arce & Galo Nuño & Dominik Thaler & Carlos Thomas, 2018. "A large central bank balance sheet? floor vs corridor systems in a new keynesian environment," Working Papers 1851, Banco de España.
    12. de Haan, J. & Eijffinger, Sylvester, 2016. "The Politics of Central Bank Independence," Discussion Paper 2016-047, Tilburg University, Center for Economic Research.
    13. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," NBER Working Papers 27004, National Bureau of Economic Research, Inc.
    14. van Riet, Ad, 2017. "Monetary Policy Stretched to the Limit: How Could Governments Support the European Central Bank?," MPRA Paper 83451, University Library of Munich, Germany.
    15. Michal Franta & Tomas Holub & Branislav Saxa, 2022. "Exiting from an Exchange Rate Floor in a Small Open Economy: Balance Sheet Implications of the Czech National Bank's Exchange Rate Commitment," International Journal of Central Banking, International Journal of Central Banking, vol. 18(2), pages 51-105, June.
    16. Huixin Bi & Wenyi Shen & Shu‐Chun S. Yang, 2022. "Fiscal implications of interest rate normalization in the United States," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(2), pages 868-904, May.
    17. Robert J. Kurtzman & David Zeke, 2017. "Misallocation Costs of Digging Deeper into the Central Bank Toolkit," Finance and Economics Discussion Series 2017-076, Board of Governors of the Federal Reserve System (U.S.).
    18. Gebauer, Stefan & Pool, Sebastiaan & Schumacher, Julian, 2024. "The inflationary consequences of prioritising central bank profits," Working Paper Series 2985, European Central Bank.
    19. Jean Barthélemy & Guillaume Plantin, 2018. "Fiscal and Monetary Regimes: A Strategic Approach," Sciences Po Economics Publications (main) hal-03393134, HAL.
    20. Atsushi Tanaka, 2018. "Monetary Base Controllability after an Exit from Quantitative Easing," Discussion Paper Series 181, School of Economics, Kwansei Gakuin University, revised Jul 2018.
    21. Mackowiak, Bartosz & Corsetti, Giancarlo & Dedola, Luca & Schmidt, Sebastian & Jarocinski, Marek, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, Centre for Economic Policy Research.
    22. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2020. "(Why) do central banks care about their profits?," ECONtribute Discussion Papers Series 018, University of Bonn and University of Cologne, Germany.
    23. Corsetti, G. & Dedola, L. & Jarocinsk, M. & Mackowiak, B., 2016. "Macroeconomic Stabilization, Monetary-fiscal Interactions, and Europe’s monetary Union," Cambridge Working Papers in Economics 1675, Faculty of Economics, University of Cambridge.
    24. Charles Labrousse & Yann Perdereau, 2024. "Balance sheet policies and Central Bank losses in a HANK model," PSE Working Papers halshs-04577286, HAL.
    25. Berentsen, Aleksander & Kraenzlin, Sébastien & Müller, Benjamin, 2018. "Exit strategies for monetary policy," Journal of Monetary Economics, Elsevier, vol. 99(C), pages 20-40.
    26. Kaldorf, Matthias & Röttger, Joost, 2025. "Convenient but risky government bonds," European Economic Review, Elsevier, vol. 180(C).
    27. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    28. Jäger, Jannik & Grigoriadis, Theocharis, 2017. "The effectiveness of the ECB’s unconventional monetary policy: Comparative evidence from crisis and non-crisis Euro-area countries," Journal of International Money and Finance, Elsevier, vol. 78(C), pages 21-43.
    29. Atsushi Tanaka, 2020. "Monetary Base Controllability after an Exit from Quantitative Easing," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 123-134.
    30. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    31. Peter Spahn, 2016. "Central Bank Design in a Non-optimal Currency Union A Lender of Last Resort for Government Debt?," ROME Working Papers 201610, ROME Network.
    32. Jakob Korbinian Eberl, 2016. "The Collateral Framework of the Eurosystem and Its Fiscal Implications," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 69, April.
    33. Claudia Kwapil & Matthias Meiksner & Anna Stelzer, 2025. "Understanding central bank balance sheets: drivers, determinants, and projections of the OeNB’s profits and losses," OeNB Bulletin, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/25-4, pages 1-22.
    34. Marcella Lucchetta & Michele Moretto & Bruno Maria Parigi, 2018. "Systematic Risk, Bank Moral Hazard, and Bailouts," CESifo Working Paper Series 6878, CESifo.
    35. Foerster, Andrew T., 2015. "Financial crises, unconventional monetary policy exit strategies, and agents׳ expectations," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 191-207.
    36. Corsetti, Giancarlo & Dedola, Luca, 2014. "The “mystery of the printing press” monetary policy and self-fulfilling debt crises," LSE Research Online Documents on Economics 86333, London School of Economics and Political Science, LSE Library.
    37. Reis, Ricardo, 2015. "Comment on: “when does a central bank’s balance sheet require fiscal support?” by Marco Del Negro and Christopher A. Sims," LSE Research Online Documents on Economics 65867, London School of Economics and Political Science, LSE Library.
    38. Manuel Amador & Javier Bianchi & Luigi Bocola & Fabrizio Perri, 2016. "Reverse Speculative Attacks," Staff Report 528, Federal Reserve Bank of Minneapolis.
    39. Jean Barthélemy & Eric Mengus & Guillaume Plantin, 2020. "Public Liquidity Demand and Central Bank Independence," Working papers 747, Banque de France.
    40. José Miguel Cardoso da Costa, 2022. "On the solvency and credibility of a central bank," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    41. Monetary Affairs Department, 2023. "Central Bank Finances and Monetary Policy Conduct," Bank of Japan Working Paper Series 23-12-12, Bank of Japan.
    42. Jawaria Zahid & Atif Khan Jadoon & Bisma Hamza & Muhammad Ali, 2024. "Macroeconomics Determinants of Fiscal Sustainability in the Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 193-201.
    43. Benigno, Pierpaolo & Nisticò, Salvatore, 2025. "The economics of helicopter money," Journal of Monetary Economics, Elsevier, vol. 152(C).
    44. Guillaume Plantin & Eric Mengus & Jean Barthelemy, 2022. "The Central Bank, the Treasury, or the Market: Which One Determines the Price Level?," Sciences Po Economics Publications (main) hal-03792094, HAL.
    45. Diessner, Sebastian & Lisi, Giulio, 2019. "Masters of the ‘masters of the universe’? Monetary, fiscal and financial dominance in the Eurozone," LSE Research Online Documents on Economics 100754, London School of Economics and Political Science, LSE Library.
    46. van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
    47. Bank for International Settlements, 2023. "Central bank asset purchases in response to the Covid-19 crisis," CGFS Papers, Bank for International Settlements, number 68.
    48. Ricardo Reis, 2018. "Central Banks Going Long," Discussion Papers 1810, Centre for Macroeconomics (CFM).
    49. Pia Hüttl & Gökhan Ider & Matthias Kaldorf, 2026. "Collateral Policy Surprises," Discussion Papers of DIW Berlin 2162, DIW Berlin, German Institute for Economic Research.
    50. Yahya, Farzan & Lee, Chien-Chiang & Chen, Pei-Fen, 2025. "Is central bank resilience vulnerable to climate risks? The role of exchange rate stability and green policies," Journal of Asian Economics, Elsevier, vol. 99(C).
    51. Atsushi Tanaka, 2021. "Central Bank Capital and Credibility: A Literature Survey," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(2), pages 249-262, June.
    52. Pinter, Julien & Pourroy, Marc, 2023. "How can financial constraints force a central bank to exit a currency peg? An application to the Swiss franc peg," Journal of Macroeconomics, Elsevier, vol. 75(C).
    53. Matteo Bonetti & Dirk Broeders & Damiaan Chen & Daniel Dimitrov, 2024. "Central Bank Capital and Shareholder Relationship," Working Papers 809, DNB.
    54. Marco Bassetto & Gherardo Gennaro Caracciolo, 2021. "Monetary/Fiscal Interactions with Forty Budget Constraints," Working Papers 788, Federal Reserve Bank of Minneapolis.
    55. Alan S. Blinder & Michael Ehrmann & Jakob de Haan & David-Jan Jansen, 2016. "Necessity as the Mother of Invention: Monetary Policy after the Crisis," NBER Working Papers 22735, National Bureau of Economic Research, Inc.
    56. McMahon, Michael & Peiris, M. Udara & Polemarchakis, Herakles, 2018. "Perils of unconventional monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 92-114.
    57. Christiaan van der Kwaak, 2024. "Monetary financing does not produce miraculous fiscal multipliers," Discussion Papers 2417, Centre for Macroeconomics (CFM).
    58. Julien Pinter, 2018. "Does Central Bank Financial Strength Really Matter for Inflation? The Key Role of the Fiscal Support," Open Economies Review, Springer, vol. 29(5), pages 911-952, November.
    59. Gauti B. Eggertsson & Kevin Proulx, 2016. "Bernanke's No-arbitrage Argument Revisited: Can Open Market Operations in Real Assets Eliminate the Liquidity Trap?," NBER Working Papers 22243, National Bureau of Economic Research, Inc.
    60. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2017. "(Why) Do Central Banks Care About Their Profits?," CESifo Working Paper Series 6546, CESifo.
    61. Williamson, Stephen D., 2019. "Interest on reserves, interbank lending, and monetary policy," Journal of Monetary Economics, Elsevier, vol. 101(C), pages 14-30.
    62. Mitchener, Kris James & Monnet, Eric, 2023. "Connected Lending of Last Resort," CAGE Online Working Paper Series 651, Competitive Advantage in the Global Economy (CAGE).
    63. Daniel Murphy & Eric R. Young, 2026. "Government Debt Limits and Stabilization Policy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 74(1), pages 254-283, March.
    64. Mojmir Hampl & Tomas Havranek, 2020. "Central Bank Equity as an Instrument of Monetary Policy," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(1), pages 49-68, March.
    65. Marcella Lucchetta & Michele Moretto & Bruno M. Parigi, 2019. "Optimal bailouts, bank’s incentive and risk," Annals of Finance, Springer, vol. 15(3), pages 369-399, September.
    66. Sascha Buetzer, 2022. "Advancing the Monetary Policy Toolkit through Outright Transfers," IMF Working Papers 2022/087, International Monetary Fund.
    67. Ennis, Huberto M., 2018. "A simple general equilibrium model of large excess reserves," Journal of Monetary Economics, Elsevier, vol. 98(C), pages 50-65.
    68. Basu, Parantap & Wada, Kenji, 2023. "Unconventional monetary policy and the bond market in Japan: A new Keynesian perspective," Japan and the World Economy, Elsevier, vol. 67(C).
    69. Atsushi Tanaka, 2019. "How Can a Central Bank Exit Quantitative Easing Without Rapidly Shrinking its Balance Sheet?," Discussion Paper Series 196, School of Economics, Kwansei Gakuin University.
    70. Chawwa, Tevy, 2021. "Impact of reserve requirement and Liquidity Coverage Ratio: A DSGE model for Indonesia," Economic Analysis and Policy, Elsevier, vol. 71(C), pages 321-341.
    71. Piotr Karaś & Krzysztof Kil, 2025. "Interest rate risk of central banks in Central and Eastern European countries and its impact on profitability and credibility in a turbulent socio-economic environment," Bank i Kredyt, Narodowy Bank Polski, vol. 56(3), pages 269-308.
    72. Michal Franta & Tomas Holub & Branislav Saxa, 2018. "Balance Sheet Implications of the Czech National Bank's Exchange Rate Commitment," Working Papers 2018/10, Czech National Bank, Research and Statistics Department.
    73. Hampl, Mojmir & Havranek, Tomas, 2018. "Central Bank Capital as an Instrument of Monetary Policy," EconStor Preprints 176828, ZBW - Leibniz Information Centre for Economics.
    74. Manuel Amador & Javier Bianchi, 2023. "Helicopter Drops and Liquidity Traps," Working Papers 797, Federal Reserve Bank of Minneapolis.
    75. Magill, Michael & Quinzii, Martine & Rochet, Jean-Charles, 2020. "The safe asset, banking equilibrium, and optimal central bank monetary, prudential and balance-sheet policies," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 113-128.
    76. Joerg Bibow, 2018. "Unconventional Monetary Policies and Central Bank Profits: Seigniorage as Fiscal Revenue in the Aftermath of the Global Financial Crisis," Economics Working Paper Archive wp_916, Levy Economics Institute.
    77. Francesco Giovanardi & Matthias Kaldorf & Lucas Radke & Florian Wicknig, 2023. "The Preferential Treatment of Green Bonds," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 657-676, December.
    78. Maximilian Goedl & Christoph Zwick, 2018. "Assessing the stochastic stability of public debt: the case of Austria," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 45(3), pages 559-585, August.
    79. Mojmir Hampl & Tomas Havranek, 2018. "Central Bank Financial Strength and Inflation: A Meta-Analysis," Research and Policy Notes 2018/01, Czech National Bank, Research and Statistics Department.
    80. Quint, Dominic & Rabanal, Pau, 2017. "Should unconventional monetary policies become conventional?," Discussion Papers 28/2017, Deutsche Bundesbank.
    81. Daniel Murphy & Eric Young, 2020. "Government Debt Limits and Stabilization Policy," Working Papers 20-23, Federal Reserve Bank of Cleveland.
    82. Atsushi Tanaka, 2020. "Central Bank Capital and Credibility: A Literature Survey," Discussion Paper Series 208, School of Economics, Kwansei Gakuin University, revised May 2020.

  35. Ricardo Reis, 2015. "The market value of a central bank," 2015 Meeting Papers 1031, Society for Economic Dynamics.

    Cited by:

    1. Yang, Dianyi, 2024. "Bail out the money printer? The impact of fiscal indemnity on central bank profitability," SocArXiv wz75m, Center for Open Science.
    2. Reis, Ricardo, 2015. "Comment on: “when does a central bank’s balance sheet require fiscal support?” by Marco Del Negro and Christopher A. Sims," LSE Research Online Documents on Economics 65867, London School of Economics and Political Science, LSE Library.
    3. Roberto Perotti, 2020. "Understanding the German Criticism of the Target System and the Role of Central Bank capital," NBER Working Papers 27627, National Bureau of Economic Research, Inc.
    4. William Roberds, 2016. "Review of Making Money: Coin, Currency, and the Coming of Capitalism by Christine Desan," Journal of Economic Literature, American Economic Association, vol. 54(3), pages 906-921, September.

  36. Reis, Ricardo, 2015. "Comment on: “when does a central bank’s balance sheet require fiscal support?” by Marco Del Negro and Christopher A. Sims," LSE Research Online Documents on Economics 65867, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Niwa, Hidekazu, 2024. "A fiscal theory of central bank’s solvency: Perils of the quantitative and qualitative monetary easing," Japan and the World Economy, Elsevier, vol. 70(C).
    2. Claeys, Grégory & Papioti, Chara & Tryphonides, Andreas, 2023. "Liquidity risk, market power and the informational effects of policy," Journal of International Economics, Elsevier, vol. 142(C).
    3. Christiaan van der Kwaak, 2024. "Monetary financing does not produce miraculous fiscal multipliers," Discussion Papers 2417, Centre for Macroeconomics (CFM).
    4. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2017. "(Why) Do Central Banks Care About Their Profits?," CESifo Working Paper Series 6546, CESifo.

  37. Ricardo Reis, 2015. "Different Types of Central Bank Insolvency and the Central Role of Seignorage," NBER Working Papers 21226, National Bureau of Economic Research, Inc.

    Cited by:

    1. Reis, Ricardo, 2016. "Funding quantitative easing to target inflation," LSE Research Online Documents on Economics 67883, London School of Economics and Political Science, LSE Library.
    2. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    3. Caballero, Diego & Lucas, André & Schwaab, Bernd & Zhang, Xin, 2019. "Risk endogeneity at the lender/investor-of-last-resort," Working Paper Series 2225, European Central Bank.
    4. Martin Hellwig, 2019. "Target-Falle oder Empörungsfalle? – Zur deutschen Diskussion um die Europäische Währungsunion," Discussion Paper Series of the Max Planck Institute for Behavioral Economics 2019_05, Max Planck Institute for Behavioral Economics.
    5. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy And Psychology," BAFFI CAREFIN Working Papers 19105, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    6. Roberto Robatto & Pierpaolo Benigno, 2016. "Private Money and Equilibrium Liquidity," 2016 Meeting Papers 690, Society for Economic Dynamics.
    7. Bagus, Philipp & Howden, David, 2016. "Central Bank Balance Sheet Analysis," MPRA Paper 79801, University Library of Munich, Germany.
    8. Nao Sudo & Masaki Tanaka, 2021. "Quantifying Stock and Flow Effects of QE," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(7), pages 1719-1755, October.
    9. Ricardo Reis, 2017. "QE in the Future: The Central Bank’s Balance Sheet in a Fiscal Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(1), pages 71-112, April.
    10. Atsushi Tanaka, 2018. "Monetary Base Controllability after an Exit from Quantitative Easing," Discussion Paper Series 181, School of Economics, Kwansei Gakuin University, revised Jul 2018.
    11. Favaretto, Federico & Masciandaro, Donato, 2016. "Doves, hawks and pigeons: Behavioral monetary policy and interest rate inertia," Journal of Financial Stability, Elsevier, vol. 27(C), pages 50-58.
    12. Patrick Augustin & Mikhail Chernov & Lukas Schmid & Dongho Song, 2019. "Benchmark Interest Rates When the Government is Risky," NBER Working Papers 26429, National Bureau of Economic Research, Inc.
    13. Marco Fruzzetti & Giulio Gariano & Gerardo Palazzo & Antonio Scalia, 2021. "From SMP to PEPP: a further look at the risk endogeneity of the Central Bank," Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) 11, Bank of Italy, Directorate General for Markets and Payment System.
    14. Jean Barthélemy & Guillaume Plantin, 2019. "Fiscal and Monetary Regimes: A Strategic Approach," Working papers 742, Banque de France.
    15. Benigno, Pierpaolo & Nistico, Salvatore, 2015. "Non-Neutrality of Open-Market Operations," CEPR Discussion Papers 10594, Centre for Economic Policy Research.
    16. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    17. Atsushi Tanaka, 2020. "Monetary Base Controllability after an Exit from Quantitative Easing," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 123-134.
    18. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    19. Tercero-Lucas, David, 2023. "Central bank digital currencies and financial stability in a modern monetary system," Journal of Financial Stability, Elsevier, vol. 69(C).
    20. Monetary Affairs Department, 2023. "Central Bank Finances and Monetary Policy Conduct," Bank of Japan Working Paper Series 23-12-12, Bank of Japan.
    21. Atsushi Tanaka, 2021. "Central Bank Capital and Credibility: A Literature Survey," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(2), pages 249-262, June.
    22. Fujiki, Hiroshi & Tomura, Hajime, 2017. "Fiscal cost to exit quantitative easing: the case of Japan," Japan and the World Economy, Elsevier, vol. 42(C), pages 1-11.
    23. M. Kasongo Kashama, 2016. "Helicopter money and debt-financed fiscal stimulus : one and the same thing ?," Economic Review, National Bank of Belgium, issue iii, pages 31-40, December.
    24. Matteo Bonetti & Dirk Broeders & Damiaan Chen & Daniel Dimitrov, 2024. "Central Bank Capital and Shareholder Relationship," Working Papers 809, DNB.
    25. Richard Harrison & Ryland Thomas, 2019. "Monetary financing with interest-bearing money," Bank of England Staff Working Paper series 785, Bank of England.
    26. Juan José Víquez-Rodríguez & Laura Campos-Quesada & Isaac Zúñiga-Arias, 2025. "Term Structure of Interest Rates in Costa Rican Colones (Zero-Coupon Curve): Methodology and Derivation of Forward Rates and the Exchange Risk Premium," Documentos de Trabajo 2508, Banco Central de Costa Rica.
    27. George J. Hall & Thomas J. Sargent, 2025. "Fiscal Consequences of the US War on COVID," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(5), pages 1753-1780, December.
    28. Mikhail Chernov & Lukas Schmid & Andres Schneider, 2020. "A Macrofinance View of U.S. Sovereign CDS Premiums," Journal of Finance, American Finance Association, vol. 75(5), pages 2809-2844, October.
    29. Mitchener, Kris James & Monnet, Eric, 2023. "Connected Lending of Last Resort," CAGE Online Working Paper Series 651, Competitive Advantage in the Global Economy (CAGE).
    30. Atsushi Tanaka, 2019. "How Can a Central Bank Exit Quantitative Easing Without Rapidly Shrinking its Balance Sheet?," Discussion Paper Series 196, School of Economics, Kwansei Gakuin University.
    31. Magill, Michael & Quinzii, Martine & Rochet, Jean-Charles, 2020. "The safe asset, banking equilibrium, and optimal central bank monetary, prudential and balance-sheet policies," Journal of Monetary Economics, Elsevier, vol. 112(C), pages 113-128.
    32. Sarah Bell & Jon Frost & Boris Hofmann & Damiano Sandri & Hyun Song Shin, 2024. "Central bank capital and trust in money: lessons from history for the digital age," BIS Papers, Bank for International Settlements, number 146.
    33. Atsushi Tanaka, 2020. "Central Bank Capital and Credibility: A Literature Survey," Discussion Paper Series 208, School of Economics, Kwansei Gakuin University, revised May 2020.
    34. Hess Chung & Etienne Gagnon & Taisuke Nakata & Matthias Paustian & Bernd Schlusche & James Trevino & Diego Vilán & Wei Zheng, 2020. "Monetary Policy Options at the Effective Lower Bound: Assessing the Federal Reserve’s Current Policy Toolkit," CARF F-Series CARF-F-483, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.

  38. Ricardo Reis, 2015. "Looking for a success in the euro crisis adjustment programs: the case of Portugal," Discussion Papers 1535, Centre for Macroeconomics (CFM).

    Cited by:

    1. Papaioannou, Elias & Algan, Yann & Guriev, Sergei & Passari, Evgenia, 2017. "The European Trust Crisis and the Rise of Populism," CEPR Discussion Papers 12444, Centre for Economic Policy Research.
    2. Alessio Terzi, 2019. "The Euro Crisis and Economic Growth: A Novel Counterfactual Approach," CESifo Working Paper Series 7746, CESifo.
    3. Blanchard, Olivier & Portugal, Pedro, 2017. "Boom, Slump, Sudden stops, Recovery, and Policy Options. Portugal and the Euro," CEPR Discussion Papers 12118, Centre for Economic Policy Research.
    4. Nataliya Yu. Tanyushcheva, 2019. "Background of Anti-Money Laundering Regulation in Modern Economic Theory," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 96-107, December.
    5. Jorge Sinval & M. Joseph Sirgy & Dong-Jin Lee & João Marôco, 2020. "The Quality of Work Life Scale: Validity Evidence from Brazil and Portugal," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 15(5), pages 1323-1351, November.
    6. João Carlos Lopes, 2026. "Trade imbalances, domestic demand and export composition in peripheral and core Eurozone countries, before and after the sovereign debt crisis: An input-output approach," Working Papers REM 2026/0416, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    7. Mitali Das, 2023. "Probabilistic assessment of external sustainability in Portugal," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(1), pages 5-29, January.
    8. Terzi, Alessio, 2020. "Macroeconomic adjustment in the euro area," European Economic Review, Elsevier, vol. 128(C).
    9. Beck, Thorsten & Da-Rocha-Lopes, Samuel & Silva, Andre F., 2017. "Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins," CEPR Discussion Papers 12058, Centre for Economic Policy Research.
    10. Gómez-Puig, Marta & Sosvilla-Rivero, Simón, 2017. "Heterogeneity in the debt-growth nexus: Evidence from EMU countries," International Review of Economics & Finance, Elsevier, vol. 51(C), pages 470-486.
    11. Samuel Verevis & Murat Üngör, 2021. "What has New Zealand gained from The FTA with China?: Two counterfactual analyses†," Scottish Journal of Political Economy, Scottish Economic Society, vol. 68(1), pages 20-50, February.

  39. Reis, Ricardo, 2015. "Looking for a success: the euro crisis adjustment programs," LSE Research Online Documents on Economics 65868, London School of Economics and Political Science, LSE Library.

    Cited by:

    1. Papaioannou, Elias & Algan, Yann & Guriev, Sergei & Passari, Evgenia, 2017. "The European Trust Crisis and the Rise of Populism," CEPR Discussion Papers 12444, Centre for Economic Policy Research.
    2. Alessio Terzi, 2019. "The Euro Crisis and Economic Growth: A Novel Counterfactual Approach," CESifo Working Paper Series 7746, CESifo.
    3. Marta Gómez-Puig & Simón Sosvilla-Rivero, 2017. "Heterogeneity in the debt-growth nexus: Evidence from EMU countries," IREA Working Papers 201706, University of Barcelona, Research Institute of Applied Economics, revised Mar 2017.
    4. Blanchard, Olivier & Portugal, Pedro, 2017. "Boom, Slump, Sudden stops, Recovery, and Policy Options. Portugal and the Euro," CEPR Discussion Papers 12118, Centre for Economic Policy Research.
    5. Nataliya Yu. Tanyushcheva, 2019. "Background of Anti-Money Laundering Regulation in Modern Economic Theory," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 96-107, December.
    6. Jorge Sinval & M. Joseph Sirgy & Dong-Jin Lee & João Marôco, 2020. "The Quality of Work Life Scale: Validity Evidence from Brazil and Portugal," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 15(5), pages 1323-1351, November.
    7. Terzi, Alessio, 2020. "Macroeconomic adjustment in the euro area," European Economic Review, Elsevier, vol. 128(C).
    8. Beck, Thorsten & Da-Rocha-Lopes, Samuel & Silva, Andre F., 2017. "Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins," CEPR Discussion Papers 12058, Centre for Economic Policy Research.
    9. Samuel Verevis & Murat Üngör, 2021. "What has New Zealand gained from The FTA with China?: Two counterfactual analyses†," Scottish Journal of Political Economy, Scottish Economic Society, vol. 68(1), pages 20-50, February.

  40. Jens Hilscher & Alon Raviv & Ricardo Reis, 2014. "Inflating Away the Public Debt? An Empirical Assessment," Working Papers 74, Brandeis University, Department of Economics and International Business School.

    Cited by:

    1. Javier Villar Burke, 2016. "Stocks or flows? New thinking about monetary transmission through the lending channel," Working Papers 2016.04, International Network for Economic Research - INFER.
    2. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    3. Michael U. Krause & Stéphane Moyen, 2016. "Public Debt and Changing Inflation Targets," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(4), pages 142-176, October.
    4. Ricardo Reis, 2016. "QE in the future: the central bank's balance sheet in a financial crisis," Discussion Papers 1620, Centre for Macroeconomics (CFM).
    5. Fukunaga,Ichiro & Komatsuzaki,Takuji & Matsuoka,Hideaki, 2020. "Inflation and Public Debt Reversals in Advanced Economies," Policy Research Working Paper Series 9129, The World Bank.
    6. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2016. "Nominal Rigidities in Debt and Product Markets," Working Papers 801, Queen Mary University of London, School of Economics and Finance.
    7. Bańkowski, Krzysztof & Checherita-Westphal, Cristina & Jesionek, Julia & Muggenthaler-Gerathewohl, Philip & Frutos, Mario Alloza & Avgousti, Aristoklis & Briodeau, Clémence & Brusbārde, Baiba & Caprio, 2023. "The effects of high inflation on public finances in the euro area," Occasional Paper Series 332, European Central Bank.
    8. Chang, Yoosoon & Gómez-Rodríguez, Fabio & Matthes, Christian, 2026. "The influence of fiscal and monetary policies on the shape of the yield curve," Journal of Economic Dynamics and Control, Elsevier, vol. 184(C).
    9. Philippe Bacchetta & Elena Perazzi & Eric van Wincoop, 2015. "Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?," Cahiers de Recherches Economiques du Département d'économie 15.06, Université de Lausanne, Faculté des HEC, Département d’économie.
    10. Sunder-Plassmann, Laura, 2020. "Infation, default and sovereign debt: The role of denomination and ownership," Journal of International Economics, Elsevier, vol. 127(C).
    11. Markus K. Brunnermeier & Sebastian Merkel & Yuliy Sannikov, 2020. "The Fiscal Theory of the Price Level with a Bubble," CESifo Working Paper Series 8278, CESifo.
    12. Denis Gorea & Ding Xuan Ng & Fabrizio Zampolli, 2026. "Financial and real effects of fiscal risk," BIS Working Papers 1364, Bank for International Settlements.
    13. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," NBER Working Papers 27004, National Bureau of Economic Research, Inc.
    14. Equiza-Goñi, Juan, 2016. "Government debt maturity and debt dynamics in euro area countries," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 292-311.
    15. Ricardo Reis, 2016. "QE in the future: the central bank’s balance sheet in a fiscal crisis," NBER Working Papers 22415, National Bureau of Economic Research, Inc.
    16. Busato, Francesco & Varlese, Monica & Ulloa Severino, Claudia, 2022. "Public debt heterogeneity at country level: an empirical analysis," MPRA Paper 113812, University Library of Munich, Germany.
    17. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    18. Katagiri, Mitsuru & Konishi, Hideki & Ueda, Kozo, 2020. "Aging and deflation from a fiscal perspective," Journal of Monetary Economics, Elsevier, vol. 111(C), pages 1-15.
    19. Patrick Augustin & Mikhail Chernov & Lukas Schmid & Dongho Song, 2019. "Benchmark Interest Rates When the Government is Risky," NBER Working Papers 26429, National Bureau of Economic Research, Inc.
    20. Rustam Jamilov & Helene Rey & Ahmed Tahoun, 2023. "The Anatomy of Cyber Risk," Working Papers Series inetwp206, Institute for New Economic Thinking.
    21. Valencia, Oscar & Gamboa-Arbeláez, Juliana & Sánchez, Gustavo, 2024. "Debt erosion: Asymmetric response to demand and supply shocks," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    22. Ricardo Reis, 2017. "Is Something Really Wrong with Macroeconomics?," Discussion Papers 1713, Centre for Macroeconomics (CFM).
    23. Czeczeli, Vivien, 2023. "Az államadósság fenntarthatósága alacsony kamatkörnyezetben [The sustainability of public debt in a low interest rate environment]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1361-1388.
    24. Nicola Limodio, 2015. "The Development Impact of Financial Regulation: Evidence from Ethiopia and Antebellum USA," 2015 Meeting Papers 355, Society for Economic Dynamics.
    25. Xu, Zhihao, 2026. "Soaring in rationality: Bonds as a partial hedge against hyperinflation," Explorations in Economic History, Elsevier, vol. 99(C).
    26. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    27. Reinhart, Carmen M. & Reinhart, Vincent & Rogoff, Kenneth, 2015. "Dealing with debt," Journal of International Economics, Elsevier, vol. 96(S1), pages 43-55.
    28. Jaroslav Boroviv{c}ka & Lars Peter Hansen & Jos'e A. Scheinkman, 2014. "Misspecified Recovery," Papers 1412.0042, arXiv.org, revised Oct 2015.
    29. Syed Sadaqat Ali Shah & David Dickinson & Kunyu Tao & Chan Wang & Liqing Zhang, 2025. "The Heterogenous Threshold Effects of Public Debt on Economic Growth: Empirical Evidence from Developing Countries," Open Economies Review, Springer, vol. 36(1), pages 243-280, February.
    30. Marina Albanese & Francesco Busato & Monica Varlese, 2026. "Inflation-Based Fiscal Consolidation: Does Speed Matter?," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 12(1), pages 441-475, March.
    31. Chernov, Mikhail & Schmid, Lukas & Schneider, Andres, 2016. "A Macrofinance View of U.S. Sovereign CDS Premiums," CEPR Discussion Papers 11576, Centre for Economic Policy Research.
    32. Yoosoon Chang & Yongok Choi & Chang Sik Kim & J. Isaac Miller & Joon Y. Park, 2024. "Common Trends and Country Specific Heterogeneities in Long-Run World Energy Consumption," Working Papers No 01/2024, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    33. Godwin Essang Esu,(PhD), 2023. "Fiscal Imbalances, Economic Growth and Macroeconomic Stability in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(8), pages 887-901, August.
    34. Kose,Ayhan & Ohnsorge,Franziska Lieselotte & Reinhart,Carmen M. & Rogoff,Kenneth S., 2021. "The Aftermath of Debt Surges," Policy Research Working Paper Series 9771, The World Bank.
    35. Jean-Paul Renne & Sarah Mouabbi & Adrien Tschopp, 2026. "Inflation and Growth Risk: Balancing the Scales with Surveys," Working papers 1036, Banque de France.
    36. George J. Hall & Thomas J. Sargent, 2025. "Fiscal Consequences of the US War on COVID," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(5), pages 1753-1780, December.
    37. Teles, Pedro & Tristani, Oreste, 2024. "The monetary financing of a large fiscal shock," Journal of Monetary Economics, Elsevier, vol. 147(S).
    38. Busato, Francesco & Albanese, Marina & Varlese, Monica, 2022. "Inflation-based fiscal consolidation: a DSGE approach," MPRA Paper 113838, University Library of Munich, Germany.
    39. Maria‐Eleni K. Agoraki & Stella Kardara & Tryphon Kollintzas & Georgios P. Kouretas, 2023. "Debt‐to‐GDP changes and the great recession: European Periphery versus European Core," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3299-3331, July.
    40. Francesco Busato & Marina Albanese & Monica Varlese, 2022. "The impact of monetary policy shock on public debt: a DSGE approach," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - The Italian Journal of Economic, Demographic and Statistical Studies, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 76(3), pages 17-28, July-Sept.
    41. Olga A. Norkina & Sergey E. Pekarski, 2014. "Optimal Financial Repression," HSE Working papers WP BRP 81/EC/2014, National Research University Higher School of Economics.
    42. Pablo Anaya & Alex Pienkowski, 2015. "What Really Drives Public Debt: A Holistic Approach," IMF Working Papers 2015/137, International Monetary Fund.
    43. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
    44. Claudio Borio & Marc Farag & Fabrizio Zampolli, 2023. "Tackling the fiscal policy-financial stability nexus," BIS Working Papers 1090, Bank for International Settlements.
    45. Gautam Nair & Federico Sturzenegger, 2024. "Great Dilution: The Global Impact of the US Inflation Shock on Sovereign Debt," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(3), pages 1238-1277, September.
    46. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2015. "Mortgages and Monetary Policy," Working Papers 2015-33, Federal Reserve Bank of St. Louis.
    47. Ghaderi, Mohammad & Seo, Sang Byung & Shaliastovich, Ivan, 2026. "Learning and subjective beliefs about good and bad inflation ranges," SAFE Working Paper Series 478, Leibniz Institute for Financial Research SAFE.
    48. Ricardo Reis, 2016. "Funding Quantitative Easing to Target Inflation," Discussion Papers 1626, Centre for Macroeconomics (CFM).
    49. Ricardo Reis, 2017. "Comment on "Michelson-Morley, Fisher, and Occam: The Radical Implications of Stable Quiet Inflation at the Zero Bound"," NBER Chapters, in: NBER Macroeconomics Annual 2017, volume 32, pages 246-260, National Bureau of Economic Research, Inc.
    50. Bacchetta, Philippe & Perazzi, Elena & van Wincoop, Eric, 2018. "Self-fulfilling debt crises: What can monetary policy do?," Journal of International Economics, Elsevier, vol. 110(C), pages 119-134.
    51. Pratibha, S. & Sharma, Vishal & Krishna, M., 2024. "Nexus between total natural resource rents and public debt within symmetric and asymmetric framework: Fresh insight from resource-rich economy," Resources Policy, Elsevier, vol. 93(C).
    52. Michael Weber & Daniel Hoang & Francesco D'Acunto, 2015. "Inflation Expectations and Consumption Expenditure," 2015 Meeting Papers 1266, Society for Economic Dynamics.
    53. Limodio,Nicola & Strobbe,Francesco, 2016. "Financial regulation and government revenue : the effects of a policy change in Ethiopia," Policy Research Working Paper Series 7733, The World Bank.
    54. István Ábel & Orsolya Csortos & Kristóf Lehmann & Annamária Madarász & Zoltán Szalai, 2014. "Inflation targeting in the light of lessons from the financial crisis," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 13(4), pages 35-56.
    55. Abudy, Menachem Meni & Raviv, Alon, 2016. "How much can illiquidity affect corporate debt yield spread?," Journal of Financial Stability, Elsevier, vol. 25(C), pages 58-69.
    56. Olesea Speian, 2024. "Debt Dynamics under Uncertainty: Evidence from the Republic of Moldova," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 50-63.
    57. Aaron Hedlund, 2015. "Failure to Launch: Housing, Debt Overhang, and the Inflation Option During the Great Recession," Working Papers 1515, Department of Economics, University of Missouri.
    58. Equiza-Goñi, Juan, 2023. "Euro area inflation linked debt: An evaluation," Economics Letters, Elsevier, vol. 232(C).
    59. Juan Equiza Goni, 2014. "Sovereign Debt Maturity and Debt-to GDP Dynamics in Six Euro Area Countries," Working Papers ECARES ECARES 2014-44, ULB -- Universite Libre de Bruxelles.
    60. Philipp F. M. Baumann & Enzo Rossi & Alexander Volkmann, 2020. "What Drives Inflation and How: Evidence from Additive Mixed Models Selected by cAIC," Papers 2006.06274, arXiv.org, revised Aug 2022.

  41. Alisdair McKay & Ricardo Reis, 2013. "The role of automatic stabilizers in the U.S. business cycle," Boston University - Department of Economics - Working Papers Series 2013-007, Boston University - Department of Economics.

    Cited by:

    1. Edouard Challe & Xavier Ragot, 2016. "Precautionary Saving Over the Business Cycle," PSE-Ecole d'économie de Paris (Postprint) halshs-01313771, HAL.
    2. Valentina Michelangeli & Fabio Massimo Piersanti, 2025. "Business loan characteristics and inflation shocks transmission in the euro area," Temi di discussione (Economic working papers) 1477, Bank of Italy, Economic Research and International Relations Area.
    3. Luetticke, Ralph, 2018. "Transmission of monetary policy with heterogeneity in household portfolios," LSE Research Online Documents on Economics 90377, London School of Economics and Political Science, LSE Library.
    4. Michael Olabisi, 2020. "Input–Output Linkages and Sectoral Volatility," Economica, London School of Economics and Political Science, vol. 87(347), pages 713-746, July.
    5. Sims, Eric & Wolff, Jonathan, 2018. "The state-dependent effects of tax shocks," European Economic Review, Elsevier, vol. 107(C), pages 57-85.
    6. Martin Beraja, 2017. "Counterfactual Equivalence in Macroeconomics," 2017 Meeting Papers 1400, Society for Economic Dynamics.
    7. Paccagnini, Alessia, 2017. "Dealing with Misspecification in DSGE Models: A Survey," MPRA Paper 82914, University Library of Munich, Germany.
    8. Lastauskas, Povilas & Stakėnas, Julius, 2024. "Labor market policies in high- and low-interest rate environments: Evidence from the euro area," Economic Modelling, Elsevier, vol. 141(C).
    9. Alisdair McKay & Ricardo Reis, 2018. "Countercyclical fiscal policy in a low r∗ world," 2018 Meeting Papers 621, Society for Economic Dynamics.
    10. Lydia Cox & Gernot Müller & Ernesto Pastén & Raphael Schoenle & Michael Weber, 2020. "Big G," NBER Working Papers 27034, National Bureau of Economic Research, Inc.
      • Lydia Cox & Gernot Muller & Ernesto Pasten & Raphael Schoenle & Michael Weber, 2020. "Big G," Working Papers Central Bank of Chile 878, Central Bank of Chile.
      • Lydia Cox & Gernot J. Müller & Ernesto Pasten & Raphael Schoenle & Michael Weber, 2020. "Big G," Working Papers 2020-36, Becker Friedman Institute for Research In Economics.
      • Lydia Cox & Gernot J. Müller & Ernesto Pasten & Raphael Schoenle, 2020. "Big G," Working Papers 20-15, Federal Reserve Bank of Cleveland.
      • Lydia Cox & Gernot Müller & Ernesto Pasten & Raphael S. Schoenle & Michael Weber & Michael Weber, 2020. "Big G," CESifo Working Paper Series 8229, CESifo.
      • Lydia Cox & Gernot J. Müller & Ernesto Pastén & Raphael Schoenle & Michael Weber, 2024. "Big G," Journal of Political Economy, University of Chicago Press, vol. 132(10), pages 3260-3297.
      • Schoenle, Raphael & Müller, Gernot & Pasten, Ernesto & Weber, Michael, 2020. "Big G," CEPR Discussion Papers 14625, Centre for Economic Policy Research.
    11. Adrien Auclert, 2017. "Monetary Policy and the Redistribution Channel," Working Papers 1706, Council on Economic Policies.
    12. Giacomo Mangiante & Pascal Meichtry, 2025. "On the Distributional Effects of Conventional Monetary Policy and Forward Guidance," Working papers 996, Banque de France.
    13. Neil R. Mehrotra, 2018. "Fiscal Policy Stabilization: Purchases or Transfers?," International Journal of Central Banking, International Journal of Central Banking, vol. 14(2), pages 1-50, March.
    14. Peter Ganong & Jeffrey B. Liebman, 2013. "The Decline, Rebound, and Further Rise in SNAP Enrollment: Disentangling Business Cycle Fluctuations and Policy Changes," NBER Working Papers 19363, National Bureau of Economic Research, Inc.
    15. David Romer, "undated". "The Social Insurance Perspective on Fiscal Policy: Implications for Monetary Policy," RBA Annual Conference Papers acp2025-04, Reserve Bank of Australia, revised Nov 2025.
    16. Cui, Wei & Sterk, Vincent, 2018. "Quantitative easing," LSE Research Online Documents on Economics 90874, London School of Economics and Political Science, LSE Library.
    17. Efrem Castelnuovo & Guay Lim, 2019. "What Do We Know About the Macroeconomic Effects of Fiscal Policy? A Brief Survey of the Literature on Fiscal Multipliers," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 52(1), pages 78-93, March.
    18. Byoungchan Lee, 2020. "Business Cycles and Earnings Inequality," HKUST CEP Working Papers Series 202001, HKUST Center for Economic Policy.
    19. Antonio Antunes & Valerio Ercolani, 2020. "Public debt expansions and the dynamics of the household borrowing constraint," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 1-32, July.
    20. Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño Barrau & Omar Rachedi, 2024. "Inequality and the zero lower bound," BIS Working Papers 1160, Bank for International Settlements.
    21. Reicher, Claire, 2014. "Systematic fiscal policy and macroeconomic performance: A critical overview of the literature," Economics Discussion Papers 2014-29, Kiel Institute for the World Economy.
    22. Florin Bilbiie & Xavier Ragot, 2021. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Sciences Po Economics Publications (main) hal-03501417, HAL.
    23. Christian Bayer & Benjamin Born & Ralph Luetticke, 2020. "Shocks, Frictions, and Inequality in US Business Cycles," Discussion Papers 2003, Centre for Macroeconomics (CFM).
    24. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, Centre for Economic Policy Research.
    25. Nikolaos Kokonas & Paulo Santos Monteiro, 2023. "Self-fulfilling labor wedge fluctuations and unemployment insurance," Discussion Papers 2313, Centre for Macroeconomics (CFM).
    26. Stevan Luković, 2014. "The Role Of The Automatic Stabilizers In Modern Economy," Ekonomika, Journal for Economic Theory and Practice and Social Issues 2014-01, „Ekonomika“ Society of Economists, Niš (Serbia).
    27. Alisdair McKay & Johannes F. Wieland, 2021. "Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy," Staff Report 622, Federal Reserve Bank of Minneapolis.
    28. Ruediger Bachmann & Jinhui Bai & Minjoon Lee & Fudong Zhang, 2020. "The Welfare and Distributional Effects of Fiscal Volatility: a Quantitative Evaluation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 38, pages 127-153, October.
    29. Alisdair McKay & Ricardo Reis, 2016. "Optimal Automatic Stabilizers," Discussion Papers 1618, Centre for Macroeconomics (CFM).
    30. Grancini, Stefano, 2025. "Public debt, iMPCs & fiscal policy transmission," Working Paper Series 3106, European Central Bank.
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    Cited by:

    1. João Carlos Lopes & João Ferreira do Amaral, 2013. "The Structure and Evolution of Production, Employment and Human Capital in Portugal: an Input-Output Approach," Working Papers Department of Economics 2013/24, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    2. Alberto Bagnai & Christian Alexander Mongeau Ospina, 2017. "Neoclassical versus Post-Keynesian Explanations of the Pre-Great Recession Productivity Slowdown: Panel Evidence," a/ Working Papers Series 1704, Italian Association for the Study of Economic Asymmetries, Rome (Italy).
    3. Fernando Alexandre & Pedro Bação & Miguel Portela, 2019. "A flatter life-cycle consumption profile," NIPE Working Papers 01/2019, NIPE - Universidade do Minho.
    4. Kogler, Michael, 2020. "Risk shifting and the allocation of capital: A Rationale for macroprudential regulation," Journal of Banking & Finance, Elsevier, vol. 118(C).
    5. Merih Uctum & Remzi Uctum & Chu-Ping C Vijverberg, 2021. "The European growth synchronization through crises and structural changes," Post-Print hal-03319011, HAL.
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    Cited by:

    1. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819.
    2. Michele Cavallo & Marco Del Negro & W. Scott Frame & Jamie Grasing & Benjamin A. Malin & Carlo Rosa, 2018. "Fiscal Implications of the Federal Reserve's Balance Sheet Normalization," Finance and Economics Discussion Series 2018-002, Board of Governors of the Federal Reserve System (U.S.).
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    12. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2020. "(Why) do central banks care about their profits?," ECONtribute Discussion Papers Series 018, University of Bonn and University of Cologne, Germany.
    13. Vasiliki Dimakopoulou & George Economides & Apostolis Philippopoulos & Vanghelis Vassilatos, 2023. "Can Central Banks Do the Unpleasant Job That Governments Should Do?," CESifo Working Paper Series 10603, CESifo.
    14. Benigno, Pierpaolo & Nistico, Salvatore, 2015. "Non-Neutrality of Open-Market Operations," CEPR Discussion Papers 10594, Centre for Economic Policy Research.
    15. Ricardo Reis, 2015. "Comment on "External and Public Debt Crises"," NBER Chapters, in: NBER Macroeconomics Annual 2015, Volume 30, pages 245-256, National Bureau of Economic Research, Inc.
    16. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic policy lessons for Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 152, Hellenic Observatory, LSE.
    17. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic Policy Lessons for Greece from the Debt Crisis," CESifo Working Paper Series 8188, CESifo.
    18. Giancarlo Corsetti & Luca Dedola, 2012. "The "Mystery of the Printing Press" Monetary Policy and Self-fulfilling Debt Crises," Discussion Papers 1424, Centre for Macroeconomics (CFM), revised Aug 2014.
    19. Stephen Wright & Charmaine Portelli, 2018. "The True Size of the ECB: New Insights from National Central Bank Balance Sheets," Birkbeck Working Papers in Economics and Finance 1807, Birkbeck, Department of Economics, Mathematics & Statistics.
    20. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    21. Atsushi Tanaka, 2020. "Monetary Base Controllability after an Exit from Quantitative Easing," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 123-134.
    22. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2021. "Austerity, Assistance and Institutions: Lessons from the Greek Sovereign Debt Crisis," Open Economies Review, Springer, vol. 32(3), pages 435-478, July.
    23. Jakob Korbinian Eberl, 2016. "The Collateral Framework of the Eurosystem and Its Fiscal Implications," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 69, April.
    24. Carlos Thomas & Galo Nuño, 2016. "Monetary Policy and Sovereign Debt Vulnerability," 2016 Meeting Papers 329, Society for Economic Dynamics.
    25. Alberto Martin, 2016. "Reverse speculative attacks: A comment," Economics Working Papers 1522, Department of Economics and Business, Universitat Pompeu Fabra.
    26. Reis, Ricardo, 2015. "Comment on: “when does a central bank’s balance sheet require fiscal support?” by Marco Del Negro and Christopher A. Sims," LSE Research Online Documents on Economics 65867, London School of Economics and Political Science, LSE Library.
    27. Tischbirek, Andreas, 2018. "Large-scale bond purchases in a currency union with segmentation in the market for government debt," Journal of Economic Dynamics and Control, Elsevier, vol. 95(C), pages 37-69.
    28. van Holle, Frederiek, 2017. "Essays in empirical finance and monetary policy," Other publications TiSEM 30d11a4b-7bc9-4c81-ad24-5, Tilburg University, School of Economics and Management.
    29. Weder di Mauro, Beatrice & Bartels, Bernhard & Eichengreen, Barry, 2016. "No Smoking Gun: Private Shareholders, Governance Rules and Central Bank Financial Behavior," CEPR Discussion Papers 11625, Centre for Economic Policy Research.
    30. Ricardo Reis LSE, 2016. "Comment," NBER Macroeconomics Annual, University of Chicago Press, vol. 30(1), pages 245-256.
    31. Pamfili Antipa & Christophe Chamley, 2017. "Monetary and Fiscal Policy in England during the French Wars (1793-1821)," Working papers 627, Banque de France.
    32. Pinter, Julien & Pourroy, Marc, 2023. "How can financial constraints force a central bank to exit a currency peg? An application to the Swiss franc peg," Journal of Macroeconomics, Elsevier, vol. 75(C).
    33. Christian Osterhold, 2018. "Fear the walking dead: zombie firms, spillovers and exit barriers," Working Papers w201811, Banco de Portugal, Economics and Research Department.
    34. Marco Del Negro & Christopher A. Sims, 2014. "When does a central bank’s balance sheet require fiscal support?," Staff Reports 701, Federal Reserve Bank of New York.
    35. M. Kasongo Kashama, 2016. "Helicopter money and debt-financed fiscal stimulus : one and the same thing ?," Economic Review, National Bank of Belgium, issue iii, pages 31-40, December.
    36. Matteo Bonetti & Dirk Broeders & Damiaan Chen & Daniel Dimitrov, 2024. "Central Bank Capital and Shareholder Relationship," Working Papers 809, DNB.
    37. Rancière, Romain & Catão, Luís & Fostel, Ana, 2013. "Fiscal Discoveries and Sudden Decouplings," CEPR Discussion Papers 9368, Centre for Economic Policy Research.
    38. Christiaan van der Kwaak, 2024. "Monetary financing does not produce miraculous fiscal multipliers," Discussion Papers 2417, Centre for Macroeconomics (CFM).
    39. Julien Pinter, 2018. "Does Central Bank Financial Strength Really Matter for Inflation? The Key Role of the Fiscal Support," Open Economies Review, Springer, vol. 29(5), pages 911-952, November.
    40. Xuan Wang, 2021. "Bankruptcy Codes and Risk Sharing of Currency Unions," Tinbergen Institute Discussion Papers 21-009/IV, Tinbergen Institute.
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    42. James Costain & Galo Nuño & Carlos Thomas, 2022. "The Term Structure of Interest Rates in a Heterogeneous Monetary Union," Working Papers 2223, Banco de España.
    43. Andreas Tischbirek, 2016. "Unconventional Monetary Policy in a Currency Union with Segmentation in the Market for Government Debt," Cahiers de Recherches Economiques du Département d'économie 16.16, Université de Lausanne, Faculté des HEC, Département d’économie.
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    51. Ricardo Reis, 2015. "Different Types of Central Bank Insolvency and the Central Role of Seignorage," NBER Working Papers 21226, National Bureau of Economic Research, Inc.
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    54. Atsushi Tanaka, 2020. "Central Bank Capital and Credibility: A Literature Survey," Discussion Paper Series 208, School of Economics, Kwansei Gakuin University, revised May 2020.
    55. Ricardo Reis, 2013. "Central Bank Design," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 17-44, Fall.

  44. Ricardo Reis, 2013. "Central Bank Design," NBER Working Papers 19187, National Bureau of Economic Research, Inc.

    Cited by:

    1. Reis, Ricardo, 2016. "Funding quantitative easing to target inflation," LSE Research Online Documents on Economics 67883, London School of Economics and Political Science, LSE Library.
    2. Christian P Pinshi, 2022. "Ciblage des prévisions d'inflation : Un nouveau cadre pour la politique monétaire ?," Working Papers hal-03548273, HAL.
    3. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    4. Isabel Gameiro & Rita Duarte & Ildeberta Abreu, 2024. "Reaching out to the general public: a challenging journey for central banks," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    5. Francesco Salsano, 2022. "Monetary policy when the objectives of central bankers are imperfectly observable," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(4), pages 396-415, September.
    6. Abel M. Agoba, 2021. "Minimising the inflationary impact of fiscal deficits in Africa: The role of monetary, financial and political institutions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 724-740, January.
    7. Lvarez-Parra, Fernando Á & Arreaza, Adriana & Zambrano, Eduardo, 2018. "Should a central bank transfer its profits to the treasury?," LSE Research Online Documents on Economics 123214, London School of Economics and Political Science, LSE Library.
    8. Hubert, Paul & Labondance, Fabien, 2021. "The signaling effects of central bank tone," European Economic Review, Elsevier, vol. 133(C).
    9. Carlos Madeira & João Madeira & Paulo Santos Monteiro, 2023. "The origins of monetary policy disagreement: the role of supply and demand shocks," Working Papers Central Bank of Chile 993, Central Bank of Chile.
    10. Stephen McKnight, 2016. "Investment and forward-looking monetary policy: A Wicksellian solution to the problem of indeterminacy," Serie documentos de trabajo del Centro de Estudios Económicos 2016-02, El Colegio de México, Centro de Estudios Económicos.
    11. Davide Romelli, 2024. "Trends in central bank independence: a de-jure perspective," BAFFI CAREFIN Working Papers 24217, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    12. Binder, Carola, 2017. "Fed speak on main street: Central bank communication and household expectations," Journal of Macroeconomics, Elsevier, vol. 52(C), pages 238-251.
    13. Ulrike Malmendier & Stefan Nagel & Zhen Yan, 2017. "The Making of Hawks and Doves: Inflation Experiences on the FOMC," NBER Working Papers 23228, National Bureau of Economic Research, Inc.
    14. Paul Hubert & Fabien Labondance, 2016. "Central Bank Sentiment and Policy Expectations," Sciences Po Economics Publications (main) hal-03459227, HAL.
    15. Jeffrey C. Fuhrer & Giovanni P. Olivei & Eric Rosengren & Geoffrey M. B. Tootell, 2018. "Should the Fed regularly evaluate its monetary policy framework?," Working Papers 18-8, Federal Reserve Bank of Boston.
    16. Mankiw, N Gregory, 2017. "Friedman’s Presidential Address in the Evolution of Macroeconomic Thought," CEPR Discussion Papers 12442, Centre for Economic Policy Research.
    17. Donato Masciandaro, 2020. "Covid-19 Helicopter Money, Monetary Policy And Central Bank Independence: Economics And Politics," BAFFI CAREFIN Working Papers 20137, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    18. Pavel Gertler & Roman Horvath, 2017. "Market Reading of Central Bankers Words. A High-Frequency Evidence," Working and Discussion Papers WP 2/2017, Research Department, National Bank of Slovakia.
    19. Hansen, Stephen & McMahon, Michael, "undated". "Shocking language: Understanding the macroeconomic effects of central bank communication," Economic Research Papers 269727, University of Warwick - Department of Economics.
    20. Charles Goodhart & Donato Masciandaro & Stefano Ugolini, 2022. "Pandemic Recession and Helicopter Money: Venice, 1629--1631," Papers 2201.07181, arXiv.org.
    21. Paul Hubert & Fabien Labondance, 2016. "The effect of ECB forward guidance on policy expectations," Working Papers hal-03459188, HAL.
    22. Oana Peia & Davide Romelli, 2019. "Central Bank Reforms and Institutions," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 17(01), pages 30-35, May.
    23. Peter J. Boettke & Alexander W. Salter & Daniel J. Smith, 2018. "Money as meta-rule: Buchanan’s constitutional economics as a foundation for monetary stability," Public Choice, Springer, vol. 176(3), pages 529-555, September.
    24. Verona, Fabio & Martins, Manuel M.F. & Drumond, Inês, 2017. "Financial shocks, financial stability, and optimal Taylor rules," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 187-207.
    25. Myatt, David P. & Wallace, Chris, 2014. "Central bank communication design in a Lucas-Phelps economy," Journal of Monetary Economics, Elsevier, vol. 63(C), pages 64-79.
    26. Paul Hubert & Fabien Labondance, 2019. "Central bank tone and the dispersion of views within monetary policy committees," Working Papers hal-03403256, HAL.
    27. Hüning, Hendrik, 2020. "Swiss National Bank communication and investors’ uncertainty," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    28. Levieuge, G. & Lucotte, Y. & Pradines-Jobet, F., 2019. "Central banks’ preferences and banking sector vulnerability," Journal of Financial Stability, Elsevier, vol. 40(C), pages 110-131.
    29. Bordo, Michael & Istrefi, Klodiana, 2023. "Perceived FOMC: The making of hawks, doves and swingers," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 125-143.
    30. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    31. Mele, Antonio & Molnar, Krisztina & Santoro, Sergio, 2018. "On the perils of stabilizing prices when agents are learning," Discussion Paper Series in Economics 22/2018, Norwegian School of Economics, Department of Economics.
    32. Klingelhöfer, Jan & Sun, Rongrong, 2017. "Macroprudential Policy, Central Banks and Financial Stability: Evidence from China," MPRA Paper 79033, University Library of Munich, Germany.
    33. Alberto Martin, 2016. "Reverse speculative attacks: A comment," Economics Working Papers 1522, Department of Economics and Business, Universitat Pompeu Fabra.
    34. Federico Faveretto & Donato Masciandaro, 2018. "Financial Inequality, group entitlements and populism," BAFFI CAREFIN Working Papers 1892, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    35. Donato Masciandaro, 2019. "Populism, Economic Policies, Political Pressure And Central Bank (In)Dependence," BAFFI CAREFIN Working Papers 19111, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    36. Horváth, Roman & Jonášová, Júlia, 2015. "Central banks' voting records, the financial crisis and future monetary policy," European Journal of Political Economy, Elsevier, vol. 38(C), pages 229-243.
    37. Rieder, Kilian, 2022. "Monetary policy decision-making by committee: Why, when and how it can work," European Journal of Political Economy, Elsevier, vol. 72(C).
    38. Malmendier, Ulrike & Nagel, Stefan & Yan, Zhen, 2021. "The making of hawks and doves," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 19-42.
    39. Hansen, Stephen & McMahon, Michael & Velasco Rivera, Carlos, 2014. "Preferences or private assessments on a monetary policy committee?," Journal of Monetary Economics, Elsevier, vol. 67(C), pages 16-32.
    40. N. Gregory Mankiw & Ricardo Reis, 2017. "Friedman’s Presidential Address in the Evolution of Macroeconomic Thought," Discussion Papers 1732, Centre for Macroeconomics (CFM).
    41. Masciandaro, Donato, 2022. "Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021)," Journal of International Money and Finance, Elsevier, vol. 122(C).
    42. Sofia Bauducco & Rodrigo Caputo, 2020. "Wicksellian Rules and the Taylor Principle: Some Practical Implications," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(1), pages 340-368, January.
    43. Gersbach, Hans & Mamageishvili, Akaki & Tejada, Oriol, 2020. "Appointed Learning for the Common Good: Optimal Committee Size and Efficient Rewards," CEPR Discussion Papers 15311, Centre for Economic Policy Research.
    44. Paul Hubert & Becky Maule, 2016. "Policy and macro signals as inputs to inflation expectation formation," Bank of England Staff Working Paper series 581, Bank of England.
    45. Donato Masciandaro & Francesco Passarelli, 2018. "Populism, Financial Inequality And Central Bank Independence: A Political Economics Approach," BAFFI CAREFIN Working Papers 1874, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    46. Pongsak Luangaram & Warapong Wongwachara, 2017. "More Than Words: A Textual Analysis of Monetary Policy Communication," PIER Discussion Papers 54, Puey Ungphakorn Institute for Economic Research.
    47. Elmar Mertens, 2016. "Managing Beliefs about Monetary Policy under Discretion," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(4), pages 661-698, June.
    48. Kolasa, Marcin & Wesołowski, Grzegorz, 2023. "Quantitative easing in the US and financial cycles in emerging markets," Journal of Economic Dynamics and Control, Elsevier, vol. 149(C).
    49. Mitchener, Kris James & Monnet, Eric, 2023. "Connected Lending of Last Resort," CAGE Online Working Paper Series 651, Competitive Advantage in the Global Economy (CAGE).
    50. Roman Horvath, 2020. "Peer Effects in Central Banking," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(4), pages 764-814, December.
    51. Siemroth, Christoph, 2019. "The informational content of prices when policy makers react to financial markets," Journal of Economic Theory, Elsevier, vol. 179(C), pages 240-274.
    52. Davide Romelli, 2018. "The political economy of reforms in central bank design: evidence from a new dataset," Trinity Economics Papers tep0918, Trinity College Dublin, Department of Economics.
    53. Roger Koppl & Stuart Kauffman & Giuseppe Longo & Teppo ­­­felin, 2015. "Economics for a creative world," Post-Print hal-01415131, HAL.
    54. Donato Masciandaro, 2020. "Ecb Helicopter Money: Economic And Political Economy Arithmetics," BAFFI CAREFIN Working Papers 20138, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    55. Fehr, Dietmar & Heinemann, Frank & Llorente-Saguer, Aniol, 2017. "The Power of Sunspots: an Experimental Analysis," Rationality and Competition Discussion Paper Series 11, CRC TRR 190 Rationality and Competition.
    56. Martin, Alberto, 2016. "Comments on “Reverse speculative attacks” by M. Amador, J. Bianchi, L. Bocola and F. Perri," Journal of Economic Dynamics and Control, Elsevier, vol. 72(C), pages 138-140.
    57. Güneş Kamber & Özer Karagedikli & Christie Smith, 2015. "Applying an Inflation Targeting Lens to Macroprudential Policy 'Institutions'," Reserve Bank of New Zealand Discussion Paper Series DP2015/04, Reserve Bank of New Zealand.
    58. Gertler, Pavel & Horvath, Roman, 2018. "Central bank communication and financial markets: New high-frequency evidence," Journal of Financial Stability, Elsevier, vol. 36(C), pages 336-345.
    59. Ali, Mirzaei & Iness, Aguir, 2020. "Capital inflows and bank stability around the financial crisis: The mitigating role of macro-prudential policies," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 69(C).
    60. Mäkinen, Taneli & Li, Fan & Mercatanti, Andrea & Silvestrini, Andrea, 2022. "Causal analysis of central bank holdings of corporate bonds under interference," Economic Modelling, Elsevier, vol. 113(C).
    61. Otto (O.H.) Swank & Bauke (B.) Visser, 2018. "Committees as Active Audiences: Reputation Concerns and Information Acquisition," Tinbergen Institute Discussion Papers 18-068/VII, Tinbergen Institute, revised 01 May 2019.
    62. Costa, Guilherme Spilimbergo & Guillen, Diogo Abry, 2024. "An empirical analysis of monetary policy committees composition and its relationship with monetary policy," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 5(4).
    63. Donato Masciandaro & Davide Romelli, 2018. "Beyond the Central Bank Independence Veil: New Evidence," BAFFI CAREFIN Working Papers 1871, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    64. Ricardo Reis, 2015. "Different Types of Central Bank Insolvency and the Central Role of Seignorage," NBER Working Papers 21226, National Bureau of Economic Research, Inc.
    65. Roman Horvath & Dominika Katuscakova, 2015. "Transparency and Trust: The Case of the European Central Bank," Working Papers 352, Leibniz Institut für Ost- und Südosteuropaforschung (Leibniz Institute for East and Southeast European Studies).
    66. Donato Masciandaro & Davide Romelli, 2018. "To Be or not to Be a Euro Country? The Behavioural Political Economics of Currency Unions," BAFFI CAREFIN Working Papers 1883, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    67. Sylvester Eijffinger & Ronald Mahieu & Louis Raes, 2016. "Monetary Policy Committees, Voting Behavior and Ideal Points," BAFFI CAREFIN Working Papers 1628, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    68. PINSHI, Christian P., 2022. "Inflation-Forecast Targeting: A New Framework for Monetary Policy?," MPRA Paper 111709, University Library of Munich, Germany.
    69. Araujo, Luiz Nelson, 2016. "Dissemination of Information by the Federal Reserve System: An Overview and Benchmark," MPRA Paper 73185, University Library of Munich, Germany.
    70. Fabio Verona & Manuel M. F. Martins & Inês Drumond, 2014. "Financial Shocks and Optimal Monetary Policy Rules," CEF.UP Working Papers 1402, Universidade do Porto, Faculdade de Economia do Porto.
    71. Adam Cap & Mathias Drehmann & Andreas Schrimpf, 2020. "Changes in monetary policy operating procedures over the last decade: insights from a new database," BIS Quarterly Review, Bank for International Settlements, December.
    72. Altavilla, Carlo & Rostagno, Massimo & Schumacher, Julian, 2025. "When banks hold back: credit and liquidity provision," Working Paper Series 3009, European Central Bank.
    73. Gianni Toniolo & Eugene N. White, 2015. "The Evolution of the Financial Stability Mandate: From Its Origins to the Present Day," NBER Working Papers 20844, National Bureau of Economic Research, Inc.

  45. Ricardo Reis & Alisdair McKay, 2012. "What is the role of the automatic stabilizers in the U.S. business cycle?," 2012 Meeting Papers 1116, Society for Economic Dynamics.

    Cited by:

    1. Makoto Nakajima, 2013. "Monetary Policy with Heterogeneous Agents," 2013 Meeting Papers 356, Society for Economic Dynamics.

  46. Oh, Hyunseung, 2011. "Targeted transfers and the fiscal response to the great recession," CEPR Discussion Papers 8239, Centre for Economic Policy Research.

    Cited by:

    1. Fumitaka Nakamura, 2025. "Household Income, Portfolio Choice, and Heterogeneous Consumption Responses to Monetary Policy Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(8), pages 2131-2158, December.
    2. Chakraborty, Indraneel & Holter, Hans A. & Stepanchuk, Serhiy, 2015. "Marriage stability, taxation and aggregate labor supply in the U.S. vs. Europe," Journal of Monetary Economics, Elsevier, vol. 72(C), pages 1-20.
    3. Mario Crucini & Nam Vu, 2021. "Did the American Recovery and Reinvestment Act Help Counties Most Affected by the Great Recession?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 42, pages 264-282, October.
    4. Fisher, Jonathan D. & Johnson, David S. & Smeeding, Timothy M. & Thompson, Jeffrey P., 2020. "Estimating the marginal propensity to consume using the distributions of income, consumption, and wealth," Journal of Macroeconomics, Elsevier, vol. 65(C).
    5. Luetticke, Ralph, 2018. "Transmission of monetary policy with heterogeneity in household portfolios," LSE Research Online Documents on Economics 90377, London School of Economics and Political Science, LSE Library.
    6. Hagedorn, Marcus, 2016. "A Demand Theory of the Price Level," CEPR Discussion Papers 11364, Centre for Economic Policy Research.
    7. Martin Beraja, 2017. "Counterfactual Equivalence in Macroeconomics," 2017 Meeting Papers 1400, Society for Economic Dynamics.
    8. Rafael Mariam Camarero & Gilles Dufrénot & Cecilio Tamarit, 2021. "How do inequalities affect the natural interest rate, and how do they impact monetary policy? Comparing Germany, Japan and the US," Working Papers 2105, Department of Applied Economics II, Universidad de Valencia.
    9. Yunmin Chen & YiLi Chien & Yi Wen & C. C. Yang, 2021. "Are Unconditional Lump-sum Transfers a Good Idea?," Working Papers 2021-002, Federal Reserve Bank of St. Louis, revised 10 Sep 2021.
    10. Felipe Alves & Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2020. "A Further Look at the Propagation of Monetary Policy Shocks in HANK," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 521-559, December.
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    153. Dennis Fixler & David S. Johnson, 2014. "Accounting for the Distribution of Income in the U.S. National Accounts," NBER Chapters, in: Measuring Economic Sustainability and Progress, pages 213-244, National Bureau of Economic Research, Inc.
    154. Bilbiie, F. O. & Hanks, F. & Lavender, S., 2025. "Complementarity, Heterogeneity, and Multipliers: Utility for HANK," Cambridge Working Papers in Economics 2573, Faculty of Economics, University of Cambridge.
    155. Nataliia Yaroshevych & Iryna Kondrat & Tetyana Kalaitan, 2024. "The Impact of the Mechanism for Aligning Horizontal Fiscal Imbalances on the Stability of the Financial System," JRFM, MDPI, vol. 17(2), pages 1-17, February.
    156. Oliver Denk & Robert P. Hagemann & Patrick Lenain & Valentin Somma, 2013. "Inequality and Poverty in the United States: Public Policies for Inclusive Growth," OECD Economics Department Working Papers 1052, OECD Publishing.
    157. Carreño Bustos, José Gabo, 2023. "Flexible Contracts as Business Cycle Stabilizers," Discussion Paper 2023-007, Tilburg University, Center for Economic Research.
    158. Neyer, Ulrike & Stempel, Daniel & Stevens, Alexandra, 2025. "Subsistence consumption and inflation heterogeneity: Implications for monetary policy transmission in a HANK model," DICE Discussion Papers 427, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    159. Canzoneri, Matthew B & Dellas, Harris & Diba, Behzad & Collard, Fabrice, 2015. "Fiscal Multipliers in Recessions," CEPR Discussion Papers 10353, Centre for Economic Policy Research.
    160. Mitman, Kurt & Hagedorn, Marcus & Manovskii, Iourii & Luo, Jinfeng, 2018. "Forward Guidance," CEPR Discussion Papers 12858, Centre for Economic Policy Research.
    161. Neil Mehrotra, 2014. "Fiscal Policy Stabilization: Purchases or Transfers?," Working Papers 2014-9, Brown University, Department of Economics.
    162. Gallegos, José-Elías & García-Miralles, Esteban & Kataryniuk, Ivan & Parraga Rodriguez, Susana, 2025. "Fiscal announcements and households’ beliefs: evidence from the euro area," Working Paper Series 3139, European Central Bank.
    163. Koray Caglayan & Steven M. Sheffrin, 2020. "Giver and Taker States Over the Business Cycle," Working Papers 2001, Tulane University, Department of Economics.
    164. Faria-e-Castro, Miguel, 2021. "Fiscal policy during a pandemic," Journal of Economic Dynamics and Control, Elsevier, vol. 125(C).
    165. Guo, Fei & Kit-Ming Yan, Isabel & Chen, Tao & Hu, Chun-Tien, 2023. "Fiscal multipliers, monetary efficacy, and hand-to-mouth households," Journal of International Money and Finance, Elsevier, vol. 130(C).
    166. Galo Nuño & Carlos Thomas, 2016. "Optimal monetary policy with heterogeneous agents (Updated September 2019)," Working Papers 1624, Banco de España, revised Sep 2019.
    167. João Tovar Jalles, Youssouf Kiendrebeogo, Raphael Lam, Roberto Piazza, 2023. "Revisiting the Countercyclicality of Fiscal Policy," Working Papers REM 2023/0279, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    168. Hagedorn, Marcus, 2018. "Prices and Inflation when Government Bonds are Net Wealth," CEPR Discussion Papers 12769, Centre for Economic Policy Research.
    169. Fumitaka Nakamura, 2019. "Household Income, Portfolio Choice and Heterogeneous Consumption Responses to Monetary Policy Shocks," IMES Discussion Paper Series 19-E-19, Institute for Monetary and Economic Studies, Bank of Japan.
    170. Tobias Broer & Jeppe Druedahl & Karl Harmenberg & Erik Öberg, 2025. "The Unemployment‐Risk Channel in Business‐Cycle Fluctuations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 66(4), pages 1425-1458, October.
    171. Gonzalo Caballero, 2013. "Effects of Fiscal and Monetary Policy in the Great Recession," Economies, MDPI, vol. 1(2), pages 1-4, September.
    172. Alessio Moro & Omar Rachedi, 2022. "The Changing Structure Of Government Consumption Spending," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1293-1323, August.
    173. Gnocchi, Stefano & Hauser, Daniela & Pappa, Evi, 2016. "Housework and fiscal expansions," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 94-108.
    174. Tiago Berriel & Rodrigo Abreu, 2015. "Long Term Debt and Credit Crisis in a Liquidity Constrained Economy," Textos para discussão 644, Department of Economics PUC-Rio (Brazil).
    175. Christina D. Romer & David H. Romer, 2014. "Transfer Payments and the Macroeconomy: The Effects of Social Security Benefit Changes, 1952-1991," NBER Working Papers 20087, National Bureau of Economic Research, Inc.
    176. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624v2, University of Bonn and University of Mannheim, Germany, revised Sep 2025.
    177. Timothy G. Conley & Bill Dupor & Rong Li & Yijiang Zhou, 2023. "Decomposing the Government Transfer Multiplier," Working Papers 2023-017, Federal Reserve Bank of St. Louis, revised 17 Nov 2023.
    178. Zhiyong An, 2025. "Intangible Capital, Returns to Scale and Aggregate Price Stickiness," Annals of Economics and Finance, Society for AEF, vol. 26(1), pages 377-388, May.
    179. Jung, Yongseung, 2019. "What drives business cycles in Korea?," Japan and the World Economy, Elsevier, vol. 52(C).
    180. Corsetti, Giancarlo & Brendon, Charles, 2016. "COEURE Survey: Fiscal and Monetary Policies after the Crises," CEPR Discussion Papers 11088, Centre for Economic Policy Research.
    181. Zhiyong An, 2022. "Profit Taxation and Aggregate Price Stickiness," Annals of Economics and Finance, Society for AEF, vol. 23(2), pages 279-289, November.
    182. Spector, Mariano, 2024. "Redistributive fiscal policy and marginal propensities to consume," Journal of Economic Theory, Elsevier, vol. 218(C).
    183. Kopiec, Pawel, 2019. "Household Heterogeneity and the Value of Government Spending Multiplier: an Analytical Characterization," MPRA Paper 93499, University Library of Munich, Germany.
    184. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    185. Christina Patterson, 2022. "The Matching Multiplier and the Amplification of Recessions," Working Papers 22-20, Center for Economic Studies, U.S. Census Bureau.
    186. Willem L. Heeringa & Job Swank, 2019. "Heterogeneous Consumers, Credit Rationing, and Tax-Benefit Policies," De Economist, Springer, vol. 167(2), pages 105-126, June.
    187. Giambattista,Eric & Pennings,Steven Michael, 2017. "When is the government transfer multiplier large ?," Policy Research Working Paper Series 8184, The World Bank.

  47. Ricardo Reis, 2011. "When Should Policymakers Make Announcements?," 2011 Meeting Papers 122, Society for Economic Dynamics.

    Cited by:

    1. Hobler, Stephan, 2022. "Multi-layered rational inattention and time-varying volatility," Journal of Economic Dynamics and Control, Elsevier, vol. 138(C).
    2. Luo, Yulei, 2015. "Robustly Strategic Consumption-Portfolio Rules with Informational Frictions," MPRA Paper 64312, University Library of Munich, Germany.
    3. Alina Evstigneeva & Yulia Shchadilova, 2024. "Broader Audience Transparency Index for Central Banks," Bank of Russia Working Paper Series wps136, Bank of Russia.
    4. Luo, Yulei & Young, Eric, 2013. "Rational Inattention in Macroeconomics: A Survey," MPRA Paper 54267, University Library of Munich, Germany.
    5. Luo, Yulei, 2014. "Strategic Consumption-Portfolio Rules and Precautionary Savings with Informational Frictions," MPRA Paper 58077, University Library of Munich, Germany.
    6. Kinda Hachem & Jing Cynthia Wu, 2017. "Inflation Announcements and Social Dynamics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(8), pages 1673-1713, December.
    7. Arnildo Da Silva Correa & Paulo Picchetti, 2016. "New Information And Updating Of Market Experts' Inflation Expectations," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 053, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    8. Gaetano Gaballo, 2016. "Rational Inattention to News: The Perils of Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(1), pages 42-97, January.
    9. Andrew Haldane & Alistair Macaulay & Michael McMahon, 2020. "The 3 E’s of central bank communication with the public," Bank of England Staff Working Paper series 847, Bank of England.
    10. Laura Gáti, 2023. "Talking Over Time ‐ Dynamic Central Bank Communication," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(5), pages 1147-1176, August.
    11. Mu, Congming & Yang, Jinqiang & Zhang, Yuhua, 2020. "Investment timing with information-processing constraints," Finance Research Letters, Elsevier, vol. 32(C).
    12. McMahon, Michael & Haldane, Andrew & Macaulay, Alistair, 2020. "The 3 E’s of Central Bank Communication with the Public," CEPR Discussion Papers 14265, Centre for Economic Policy Research.
    13. Ricardo Reis, 2013. "Central Bank Design," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 17-44, Fall.

  48. Cúrdia, Vasco, 2010. "Correlated Disturbances and U.S. Business Cycles," CEPR Discussion Papers 7712, Centre for Economic Policy Research.

    Cited by:

    1. Bask, Mikael & Madeira, João, 2011. "The Increased Importance of Asset Price Misalignments for Business Cycle Dynamics," Working Paper Series 2011:12, Uppsala University, Department of Economics.
    2. Mehkari, M. Saif, 2016. "Uncertainty shocks in a model with mean-variance frontiers and endogenous technology choices," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 71-98.
    3. Francesca Monti, 2015. "Can a data-rich environment help identify the sources of model misspecification?," Discussion Papers 1505, Centre for Macroeconomics (CFM).
    4. Fève, Patrick & Sahuc, Jean-Guillaume, 2013. "On the Size of the Government Spending Multiplier in the Euro Area," TSE Working Papers 13-396, Toulouse School of Economics (TSE), revised Nov 2013.
    5. Jon Faust & Abhishek Gupta, 2012. "Posterior Predictive Analysis for Evaluating DSGE Models," NBER Working Papers 17906, National Bureau of Economic Research, Inc.
    6. István Kónya, 2011. "Convergence and Distortions: the Czech Republic, Hungary and Poland between 1996–2009," MNB Working Papers 2011/6, Magyar Nemzeti Bank (Central Bank of Hungary).
    7. Giovanni Angelini & Luca Fanelli, 2016. "Misspecification and Expectations Correction in New Keynesian DSGE Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 78(5), pages 623-649, October.
    8. Christoffel, Kai & Kilponen, Juha & Jaccard, Ivan, 2011. "Government bond risk premia and the cyclicality of fiscal policy," Working Paper Series 1411, European Central Bank.
    9. Bachmann, Rüdiger & Bayer, Christian, 2013. "‘Wait-and-See’ business cycles?," Journal of Monetary Economics, Elsevier, vol. 60(6), pages 704-719.
    10. Nikolaos Kokonas & Paulo Santos Monteiro, 2025. "Equilibrium labour force participation and the business cycle," Economica, London School of Economics and Political Science, vol. 92(367), pages 783-822, July.
    11. Saroj Bhattarai & Jae Won Lee & Woong Yong Park, 2012. "Policy regimes, policy shifts, and U.S. business cycles," Globalization Institute Working Papers 109, Federal Reserve Bank of Dallas.
    12. Inoue, Atsushi & Kuo, Chun-Hung & Rossi, Barbara, 2020. "Identifying the sources of model misspecification," Journal of Monetary Economics, Elsevier, vol. 110(C), pages 1-18.
    13. Gabor Pinter, 2018. "Macroeconomic Shocks and Risk Premia," Discussion Papers 1812, Centre for Macroeconomics (CFM).
    14. Negro, Marco Del & Schorfheide, Frank, 2013. "DSGE Model-Based Forecasting," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 57-140, Elsevier.
    15. Pablo A Guerron-Quintana & James M Nason, 2012. "Bayesian Estimation of DSGE Models," CAMA Working Papers 2012-10, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    16. Meyer-Gohde, Alexander & Neuhoff, Daniel, 2015. "Solving and estimating linearized DSGE models with VARMA shock processes and filtered data," Economics Letters, Elsevier, vol. 133(C), pages 89-91.
    17. Corbo, Vesna & Strid, Ingvar, 2020. "MAJA: A two-region DSGE model for Sweden and its main trading partners," Working Paper Series 391, Sveriges Riksbank (Central Bank of Sweden).
    18. Tan, Fei & Walker, Todd B., 2015. "Solving generalized multivariate linear rational expectations models," Journal of Economic Dynamics and Control, Elsevier, vol. 60(C), pages 95-111.
    19. Sergey Ivashchenko & Semih Emre Cekin & Rangan Gupta & Chien-Chiang Lee, 2022. "Real-Time Forecast of DSGE Models with Time-Varying Volatility in GARCH Form," Working Papers 202204, University of Pretoria, Department of Economics.
    20. Madeira, João & Palma, Nuno, 2018. "Measuring monetary policy deviations from the Taylor rule," Economics Letters, Elsevier, vol. 168(C), pages 25-27.
    21. Nikolay Gospodinov & Damba Lkhagvasuren, 2013. "A moment-matching method for approximating vector autoregressive processes by finite-state Markov chains," FRB Atlanta Working Paper 2013-05, Federal Reserve Bank of Atlanta.
    22. Milani, Fabio, 2010. "Expectation Shocks and Learning as Drivers of the Business Cycle," CEPR Discussion Papers 7743, Centre for Economic Policy Research.
    23. Nikolaos Kokonas & Paulo Santos Monteiro, 2020. "The Ins and Outs of Unemployment in General Equilibrium," Discussion Papers 2014, Centre for Macroeconomics (CFM).
    24. Kónya, István, 2011. "Növekedés és felzárkózás Magyarországon, 1995-2009 [Growth and convergence in Hungary, 1995-2009]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 393-411.
    25. Chollete, Loran & Ismailescu, Iuliana & Lu, Ching-Chih, 2014. "Dependence between Extreme Events in the Real and Financial Sectors," UiS Working Papers in Economics and Finance 2014/12, University of Stavanger.

  49. Ricardo Reis, 2010. "Interpreting the Unconventional U.S. Monetary Policy of 2007-09," NBER Working Papers 15662, National Bureau of Economic Research, Inc.

    Cited by:

    1. Lars E. O. Svensson, 2011. "Practical Monetary Policy: Examples from Sweden and the United States," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 42(2 (Fall)), pages 289-352.
    2. Takáts, Előd & Temesvary, Judit, 2021. "How does the interaction of macroprudential and monetary policies affect cross-border bank lending?," Journal of International Economics, Elsevier, vol. 132(C).
    3. Baek, Seungjun, 2022. "Optimal policy in lemon markets with flexible information acquisition," Economic Modelling, Elsevier, vol. 106(C).
    4. Zeng, Zhixiong, 2011. "A theory of the non-neutrality of money with banking frictions and bank recapitalization," MPRA Paper 33471, University Library of Munich, Germany.
    5. Nuno Cassola & Claudio Morana, 2010. "The 2007-? financial crisis: a euro area money market perspective," ICER Working Papers - Applied Mathematics Series 35-2010, ICER - International Centre for Economic Research.
    6. Huang, MeiChi & Wu, Chu-Hua & Cheng, I-Shan, 2021. "A truly global crisis? Evidence from contagion dependence across international REIT markets," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
    7. Ricardo Reis, 2017. "QE in the Future: The Central Bank’s Balance Sheet in a Fiscal Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(1), pages 71-112, April.
    8. Ricardo Reis, 2017. "Is Something Really Wrong with Macroeconomics?," Discussion Papers 1713, Centre for Macroeconomics (CFM).
    9. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic policy lessons for Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 152, Hellenic Observatory, LSE.
    10. George Economides & Dimitris Papageorgiou & Apostolis Philippopoulos, 2020. "Macroeconomic Policy Lessons for Greece from the Debt Crisis," CESifo Working Paper Series 8188, CESifo.
    11. Gonzalez-Astudillo, Manuel, 2011. "Policy Rule Coefficients Driven by Latent Factors: Monetary and Fiscal Policy Interactions in an Endowment Economy," MPRA Paper 29976, University Library of Munich, Germany.
    12. Chao Gu & Joseph Haslag, 2014. "Unconventional Optimal Open Market Purchases," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(3), pages 543-558, July.
    13. Nicolae B. Garleanu & Lasse Heje Pedersen & Adam B. Ashcraft, 2010. "Two Monetary Tools: Interest-Rates and Haircuts," 2010 Meeting Papers 1102, Society for Economic Dynamics.
    14. Duca, John V., 2013. "Did the commercial paper funding facility prevent a Great Depression style money market meltdown?," Journal of Financial Stability, Elsevier, vol. 9(4), pages 747-758.
    15. McMahon, Michael & Peiris, M. Udara & Polemarchakis, Herakles, 2018. "Perils of unconventional monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 92-114.
    16. Alexander Berglund & Massimo Guidolin & Manuela Pedio, 2018. "Monetary Policy after the Crisis: Threat or Opportunity to Hedge Funds' Alphas?," BAFFI CAREFIN Working Papers 1884, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    17. Jaromír Baxa & Roman Horváth & Bořek Vašíček, 2011. "Time Varying Monetary Policy Rules and Financial Stress," Chapters, in: Sylvester Eijffinger & Donato Masciandaro (ed.), Handbook of Central Banking, Financial Regulation and Supervision, chapter 10, Edward Elgar Publishing.
    18. Bleck, Alexander & Liu, Xuewen, 2018. "Credit expansion and credit misallocation," Journal of Monetary Economics, Elsevier, vol. 94(C), pages 27-40.
    19. Fabio C. Bagliano & Claudio Morana, 2010. "The Great Recession: US dynamics and spillovers to the world economy," ICER Working Papers - Applied Mathematics Series 34-2010, ICER - International Centre for Economic Research.
    20. Duca, John V. & Murphy, Anthony, 2013. "Would a Bagehot style corporate bond backstop have helped counter the Great Recession?," Economics Letters, Elsevier, vol. 119(3), pages 351-353.
    21. Claudio Morana, 2013. "Factor Vector Autoregressive Estimation of Heteroskedastic Persistent and Non Persistent Processes Subject to Structural Breaks: New Insights on the US OIS SPreads Term Structure," Working Papers 233, University of Milano-Bicocca, Department of Economics, revised Feb 2013.

  50. Mankiw, N Gregory, 2010. "Imperfect Information and Aggregate supply," CEPR Discussion Papers 7711, Centre for Economic Policy Research.

    Cited by:

    1. Carstensen, Kai & Schenkelberg, Heike, 2011. "Time- or State-Dependence? An Analysis of Inflation Dynamics using German Business Survey Data," Discussion Papers in Economics 12170, University of Munich, Department of Economics.
    2. Ricardo Reis, 2016. "Can the Central Bank Alleviate Fiscal Burdens?," NBER Working Papers 23014, National Bureau of Economic Research, Inc.
    3. Ricardo Reis, 2016. "QE in the future: the central bank's balance sheet in a financial crisis," Discussion Papers 1620, Centre for Macroeconomics (CFM).
    4. Chou, Jenyu & Easaw, Joshy & Minford, Patrick, 2021. "Does Inattentiveness Matter for DSGE Modelling? An Empirical Investigation," Cardiff Economics Working Papers E2021/35, Cardiff University, Cardiff Business School, Economics Section.
    5. Tamás Sebestyén & Dóra Longauer, 2018. "Network structure, equilibrium and dynamics in a monopolistically competitive economy," Netnomics, Springer, vol. 19(3), pages 131-157, December.
    6. Carrera, César, 2012. "Estimating Information Rigidity using Firms’ Survey Data," Working Papers 2012-004, Banco Central de Reserva del Perú.
    7. Piero Ferri, 2011. "Macroeconomics of Growth Cycles and Financial Instability," Books, Edward Elgar Publishing, number 14260.
    8. Scheffknecht, Lukas & Geiger, Felix, 2011. "A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamcis," FZID Discussion Papers 37-2011, University of Hohenheim, Center for Research on Innovation and Services (FZID).
    9. Waldyr Areosa & Marta Areosa, 2012. "Information (in) Chains: information transmission through production chains," Working Papers Series 286, Central Bank of Brazil, Research Department.
    10. Alisdair McKay & Ricardo Reis, 2016. "Optimal Automatic Stabilizers," Discussion Papers 1618, Centre for Macroeconomics (CFM).
    11. Muñoz-Guillermo, María, 2022. "On the dynamics of the q-deformed Puu’s model with cubic investment map," Chaos, Solitons & Fractals, Elsevier, vol. 157(C).
    12. Ricardo Reis, 2016. "QE in the future: the central bank’s balance sheet in a fiscal crisis," NBER Working Papers 22415, National Bureau of Economic Research, Inc.
    13. Acharya, Sushant, 2010. "Costly Information, Planning Complementarity and the New Keynesian Phillips Curve," MPRA Paper 22514, University Library of Munich, Germany.
    14. Giacomo Candian, 2016. "Information Frictions and Real Exchange Rate Dynamics," EcoMod2016 9106, EcoMod.
    15. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, Paradigm, vol. 14(2), pages 145-164, June.
    16. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).
    17. König, Philipp J. & Meyer-Gohde, Alexander, 2017. "Decoupling nominal and real rigidities," Economics Letters, Elsevier, vol. 156(C), pages 129-132.
    18. Mäkinen, Taneli & Ohl, Björn, 2015. "Information acquisition and learning from prices over the business cycle," Journal of Economic Theory, Elsevier, vol. 158(PB), pages 585-633.
    19. Sushant Acharya, 2014. "Costly information, planning complementarities and the Phillips Curve," Staff Reports 698, Federal Reserve Bank of New York.
    20. Yingying Xu & Zhixin Liu & Zichao Jia & Chi-Wei Su, 2017. "Is time-variant information stickiness state-dependent?," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 16(3), pages 169-187, December.
    21. Martin Geiger & Marios Zachariadis, 2021. "Consumers' updating, policy shocks and public debt: An empirical assessment of state dependencies," Arbeitspapiere 69, Liechtenstein-Institut.
    22. Wagner Piazza Gaglianone & João Victor Issler, 2014. "Microfounded Forecasting," Working Papers Series 372, Central Bank of Brazil, Research Department.
    23. Sayag, Doron & Snir, Avichai & Levy, Daniel, 2025. "Sticky information and price controls: Evidence from a natural experiment," MPRA Paper 123756, University Library of Munich, Germany.
    24. Monique Reid, 2012. "Inflation Expectations of the Inattentive General Public," Working Papers 08/2012, Stellenbosch University, Department of Economics.
    25. Øivind Anti Nilsen & Magne Vange, 2018. "Intermittent Price Changes in Production Plants: Empirical Evidence Using Monthly Data," CESifo Working Paper Series 7145, CESifo.
    26. Hugh Kelley, 2014. "Experimental Study of Firm Bounded Rationality and the Pattern of Trade," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 23(4), pages 969-1006, December.
    27. Oh, Hyunseung & Reis, Ricardo, 2012. "Targeted transfers and the fiscal response to the great recession," Journal of Monetary Economics, Elsevier, vol. 59(S), pages 50-64.
    28. Eggers, Andrew C. & Ellison, Martin & Lee, Sang Seok, 2021. "The economic impact of recession announcements," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 40-52.
    29. Murphy, Robert G., 2014. "Explaining inflation in the aftermath of the Great Recession," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 228-244.
    30. Tao Chen & Paul F. Gentle, 2011. "The Inflation-Unemployment Trade-off and the Significance of the Interest Rate: Some Evidence from United States Data from 1939 through 2007 - Il trade-off tra disoccupazione e inflazione e il ruolo d," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 64(2), pages 153-171.
    31. Zidong An & Salem Abo‐Zaid & Xuguang Simon Sheng, 2023. "Inattention and the impact of monetary policy," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(4), pages 623-643, June.
    32. Nathan Goldstein & Ohad Raveh, 2024. "Looking up the sky: unidentified aerial phenomena and macroeconomic attention," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-25, December.
    33. F. Alvarez & F. Lippi & L. Paciello, 2010. "Optimal price setting with observation and menu costs," 2010 Meeting Papers 478, Society for Economic Dynamics.
    34. Levenko, Natalia, 2020. "Rounding bias in forecast uncertainty," Research in Economics, Elsevier, vol. 74(4), pages 277-291.
    35. Tufan Ekici & Martin Geiger & Marios Zachariadis, 2024. "Understanding Expectations Formation for Hand-to-Mouth Households: Lessons from the Financial Crisis," University of Cyprus Working Papers in Economics 05-2024, University of Cyprus Department of Economics, revised 05 Nov 2024.
    36. Oleksiy Kryvtsov & Luba Petersen, 2019. "Central Bank Communication That Works: Lessons from Lab Experiments," Staff Working Papers 19-21, Bank of Canada.
    37. Eddy Bekkers & Joseph F. Francois, 2012. "Bilateral Exchange Rates and Jobs," wiiw Working Papers 83, The Vienna Institute for International Economic Studies, wiiw.
    38. Andrade, Philippe & Crump, Richard K. & Eusepi, Stefano & Moench, Emanuel, 2016. "Fundamental disagreement," Journal of Monetary Economics, Elsevier, vol. 83(C), pages 106-128.
    39. von Rosenstiel, Dirk Peters & Heuermann, Daniel F. & Hüsig, Stefan, 2015. "Why has the introduction of natural gas vehicles failed in Germany?—Lessons on the role of market failure in markets for alternative fuel vehicles," Energy Policy, Elsevier, vol. 78(C), pages 91-101.
    40. Li, Lin & Liu, Kunyu & Li, Guoping, 2024. "What can analyst forecasts tell us about imperfect information?," International Review of Economics & Finance, Elsevier, vol. 92(C), pages 1059-1073.
    41. Jonathan G. James & Philip Lawler, 2024. "Clarity of Central Bank Communication and the Social Value of Public Information," Working Papers 2024-03, Swansea University, School of Management.
    42. Levy, Daniel & Chen, Haipeng (Allan) & Ray, Sourav & Charette, Elliot & Ling, Xiao & Zhao, Weihong & Bergen, Mark & Snir, Avichai, 2025. "Asymmetric price adjustment over the business cycle," Economics Letters, Elsevier, vol. 254(C).
    43. Joseph E. Stiglitz, 2011. "Rethinking Macroeconomics: What Failed, And How To Repair It," Journal of the European Economic Association, European Economic Association, vol. 9(4), pages 591-645, August.
    44. Schenkelberg, Heike, 2011. "Why are Prices Sticky? Evidence from Business Survey Data," Discussion Papers in Economics 12158, University of Munich, Department of Economics.
    45. Nolte, Ingmar & Nolte, Sandra & Pohlmeier, Winfried, 2019. "What determines forecasters’ forecasting errors?," International Journal of Forecasting, Elsevier, vol. 35(1), pages 11-24.
    46. Snir, Avichai & Levy, Daniel, 2011. "Shrinking Goods and Sticky Prices: Theory and Evidence," MPRA Paper 29565, University Library of Munich, Germany.
    47. Oleksiy Kryvtsov & Luba Petersen, 2013. "Expectations and Monetary Policy: Experimental Evidence," Discussion Papers dp13-09, Department of Economics, Simon Fraser University.
    48. Sebestyén, Tamás & Longauer, Dóra, 2019. "Hálózati struktúra és nem teljes információ egy monopolisztikus versenyre épülő modellben [Network structure and incomplete information in a model of monopolistic competition]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1257-1283.
    49. Waldyr Areosa & Marta Areosa, 2012. "The Signaling Effect of Exchange Rates: pass-through under dispersed information," Working Papers Series 282, Central Bank of Brazil, Research Department.

  51. Ricardo Reis, 2008. "A Sticky-Information General Equilibrium Model for Policy Analysis," Working Papers Central Bank of Chile 495, Central Bank of Chile.

    Cited by:

    1. Verona, Fabio, 2014. "Pervasive inattentiveness," Economics Letters, Elsevier, vol. 125(2), pages 287-290.
    2. Verona, Fabio & Wolters, Maik H., 2013. "Sticky information models in Dynare," Bank of Finland Research Discussion Papers 5/2013, Bank of Finland.
    3. Verona, Fabio, 2013. "Investment dynamics with information costs," Bank of Finland Research Discussion Papers 18/2013, Bank of Finland.
    4. Carlstrom, Charles T. & Fuerst, Timothy S. & Paustian, Matthias, 2015. "Inflation and output in New Keynesian models with a transient interest rate peg," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 230-243.
    5. Gomes, Orlando, 2013. "Information stickiness on general equilibrium and endogenous cycles," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 7, pages 1-43.
    6. Mehmet Fatih, Ekinci, 2010. "Inattentive Consumers and Exchange Rate Volatility," MPRA Paper 26472, University Library of Munich, Germany, revised 31 Oct 2010.
    7. Meyer-Gohde, Alexander, 2010. "Linear rational-expectations models with lagged expectations: A synthetic method," Journal of Economic Dynamics and Control, Elsevier, vol. 34(5), pages 984-1002, May.
    8. Enrico Giovannini & Marco Malgarini & Raffaella Sonego, 2015. "What do Italian consumers know about Economic Data? Evidence from the Istat Consumer Survey," Rivista di statistica ufficiale, ISTAT - Italian National Institute of Statistics - (Rome, ITALY), vol. 17(3), pages 25-47.
    9. Engin Kara, 2009. "Micro data on nominal rigidity, inflation persistence and optimal monetary policy," Working Paper Research 175, National Bank of Belgium.
    10. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, Paradigm, vol. 14(2), pages 145-164, June.
    11. Michael T. Kiley, 2014. "Policy Paradoxes in the New Keynesian Model," Finance and Economics Discussion Series 2014-29, Board of Governors of the Federal Reserve System (U.S.).
    12. Verona, Fabio, 2013. "Lumpy investment in sticky information general equilibrium," Bank of Finland Research Discussion Papers 16/2013, Bank of Finland.
    13. Pablo Aguilar & Jesús Vázquez, 2015. "The role of term structure in an estimated DSGE model with learning," LIDAM Discussion Papers IRES 2015007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    14. Orlando Gomes, 2012. "Transitional Dynamics in Sticky-Information General Equilibrium Models," Computational Economics, Springer;Society for Computational Economics, vol. 39(4), pages 387-407, April.
    15. Cristiano Cantore & Vasco J. Gabriel & Paul Levine & Joseph Pearlman & Bo Yang, 2013. "The science and art of DSGE modelling: II – model comparisons, model validation, policy analysis and general discussion," Chapters, in: Nigar Hashimzade & Michael A. Thornton (ed.), Handbook of Research Methods and Applications in Empirical Macroeconomics, chapter 19, pages 441-463, Edward Elgar Publishing.
    16. Dixon, Huw David & Kara, Engin, 2012. "Taking Multi-Sector Dynamic General Equilibrium Models to the Data," Cardiff Economics Working Papers E2012/8, Cardiff University, Cardiff Business School, Economics Section.
    17. Gomes Orlando, 2009. "The Sticky Information Macro Model: Beyond Perfect Foresight," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 14(1), pages 1-37, December.
    18. Maurizio Bovi & Roy Cerqueti, 2016. "Forecasting macroeconomic fundamentals in economic crises," Annals of Operations Research, Springer, vol. 247(2), pages 451-469, December.
    19. Leonardo Melosi, 2009. "A Likelihood Analysis of Models with Information Frictions," 2009 Meeting Papers 1034, Society for Economic Dynamics.
    20. Aguilar, Pablo & Vázquez, Jesús, 2021. "An Estimated Dsge Model With Learning Based On Term Structure Information," Macroeconomic Dynamics, Cambridge University Press, vol. 25(7), pages 1635-1665, October.
    21. Orlando Gomes, 2012. "Endogenous Heterogeneity, the Propagation of Information and Macroeconomic Complexity," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 6(1), pages 38-58, March.
    22. Verona, Fabio & Martins, Manuel M. F. & Drumond, Inês, 2013. "(Un)anticipated monetary policy in a DSGE model with a shadow banking system," Bank of Finland Research Discussion Papers 4/2013, Bank of Finland.
    23. Casares, Miguel & Vázquez, Jesús, 2016. "Data Revisions In The Estimation Of Dsge Models," Macroeconomic Dynamics, Cambridge University Press, vol. 20(7), pages 1683-1716, October.
    24. Jean-Paul L'Huillier & William R. Zame, 2015. "The Flattening of the Phillips Curve and the Learning Problem of the Central Bank," EIEF Working Papers Series 1503, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2014.
    25. Dizioli, Allan & Wang, Hou, 2024. "How do adaptive learning expectations rationalize stronger monetary policy response in Brazil?," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 5(1).
    26. Ekinci, Mehmet Fatih, 2017. "Inattentive consumers and international business cycles," Journal of International Money and Finance, Elsevier, vol. 72(C), pages 1-27.
    27. Paul Levine & Joseph Pearlman & George Perendia & Bo Yang, 2012. "Endogenous Persistence in an estimated DSGE Model Under Imperfect Information," Economic Journal, Royal Economic Society, vol. 122(565), pages 1287-1312, December.
    28. Gomes, Orlando, 2012. "Thought experimentation and the Phillips curve," Research in Economics, Elsevier, vol. 66(1), pages 45-64.
    29. Bennett T. McCallum, 2011. "Should Central Banks Raise their Inflation Targets? Some Relevant Issues," NBER Working Papers 17005, National Bureau of Economic Research, Inc.

  52. Ricardo Reis & Mark W. Watson, 2007. "Relative Goods' Prices, Pure Inflation, and the Phillips Correlation," NBER Working Papers 13615, National Bureau of Economic Research, Inc.

    Cited by:

    1. Rafi Melnick, 2016. "Measuring Unobserved Expected Inflation," International Finance, Wiley Blackwell, vol. 19(1), pages 2-22, April.
    2. C. Thubin & Thomas Ferrière & Eric Monnet & Magali Marx & Vichett Oung, 2016. "The PRISME model: can disaggregation on the production side help to forecast GDP?," Working papers 596, Banque de France.
    3. Nocetti, Diego & Smith, William T., 2011. "Price uncertainty, saving, and welfare," Journal of Economic Dynamics and Control, Elsevier, vol. 35(7), pages 1139-1149, July.
    4. Francisco Corona & Pilar Poncela & Esther Ruiz, 2017. "Determining the number of factors after stationary univariate transformations," Empirical Economics, Springer, vol. 53(1), pages 351-372, August.
    5. Michał Brzoza-Brzezina & Jacek Kotłowski, 2009. "Bezwzględna stopa inflacji w gospodarce polskiej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 1-21.
    6. Hie Joo Ahn & Matteo Luciani, 2021. "Relative prices and pure inflation since the mid-1990s," Finance and Economics Discussion Series 2021-069, Board of Governors of the Federal Reserve System (U.S.).
    7. Simona Delle Chiaie & Laurent Ferrara & Domenico Giannone, 2022. "Common factors of commodity prices," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 37(3), pages 461-476, April.
    8. Abdelraouf, Nadine & Noureldin, Diaa, 2022. "The impact of the exchange rate regime on the dispersion of the price-change distribution: Evidence from a large panel of countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 76(C).
    9. Takeshi Yagihashi & Juan Du, 2015. "Health Care Inflation And Its Implications For Monetary Policy," Economic Inquiry, Western Economic Association International, vol. 53(3), pages 1556-1579, July.
    10. Catherine Doz & Domenico Giannone & Lucrezia Reichlin, 2008. "A Quasi Maximum Likelihood Approach for Large Approximate Dynamic Factor Models," Working Papers ECARES 2008_034, ULB -- Universite Libre de Bruxelles.
    11. Borus Jungbacker & Siem Jan Koopman & Michel Wel, 2014. "Smooth Dynamic Factor Analysis With Application To The Us Term Structure Of Interest Rates," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 29(1), pages 65-90, January.
    12. Matteo Barigozzi & Matteo Luciani, 2017. "Common Factors, Trends, and Cycles in Large Datasets," Finance and Economics Discussion Series 2017-111, Board of Governors of the Federal Reserve System (U.S.).
    13. Nathan Sussman & Osnat Zohar, 2018. "Has inflation targeting become less credible?," BIS Working Papers 729, Bank for International Settlements.
    14. Andrew C. Chang & Phillip Li, 2015. "Is Economics Research Replicable? Sixty Published Papers from Thirteen Journals Say \"Usually Not\"," Finance and Economics Discussion Series 2015-83, Board of Governors of the Federal Reserve System (U.S.).
    15. Elena Deryugina & Alexey Ponomarenko & Andrey Sinyakov & Konstantin Sorokin, 2015. "Evaluating the underlying inflation measures for Russia," Bank of Russia Working Paper Series wps4, Bank of Russia.
    16. Aleksandra Hałka & Grzegorz Szafrański, 2018. "What core inflation indicators measure?," NBP Working Papers 294, Narodowy Bank Polski.
    17. Michal Brzoza-Brzezina & Jacek Kotlowski, 2009. "Estimating pure inflation in the Polish economy," Working Papers 37, Department of Applied Econometrics, Warsaw School of Economics.
    18. Matteo Barigozzi & Marc Hallin & Matteo Luciani & Paolo Zaffaroni, 2021. "Inferential Theory for Generalized Dynamic Factor Models," Working Papers ECARES 2021-20, ULB -- Universite Libre de Bruxelles.
    19. Kitov, Ivan & Kitov, Oleg, 2012. "Sustainable trends and periodicity in consumer price indices indicate that the era of low energy prices is approaching," MPRA Paper 43392, University Library of Munich, Germany.
    20. Marlene Amstad & Simon M. Potter & Robert W. Rich, 2017. "The New York Fed Staff Underlying Inflation Gauge (UIG)," Economic Policy Review, Federal Reserve Bank of New York, issue 23-2, pages 1-32.
    21. Yoichi Ueno, 2024. "Linkage between Wage and Price Inflation in Japan," Bank of Japan Working Paper Series 24-E-7, Bank of Japan.
    22. S. Boragan Aruoba & Francis X. Diebold, 2010. "Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions," NBER Working Papers 15657, National Bureau of Economic Research, Inc.
    23. Catherine Doz & Peter Fuleky, 2019. "Dynamic Factor Models," Working Papers 2019-4, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    24. Lasse Bork, 2009. "Estimating US Monetary Policy Shocks Using a Factor-Augmented Vector Autoregression: An EM Algorithm Approach," CREATES Research Papers 2009-11, Department of Economics and Business Economics, Aarhus University.
    25. Elena Deryugina & Alexey Ponomarenko, 2021. "Explaining the lead–lag pattern in the money–inflation relationship: a microsimulation approach," Journal of Evolutionary Economics, Springer, vol. 31(4), pages 1113-1128, September.
    26. Alan K. Detmeister, 2011. "The usefulness of core PCE inflation measures," Finance and Economics Discussion Series 2011-56, Board of Governors of the Federal Reserve System (U.S.).
    27. Andrade, Philippe & Zachariadis, Marios, 2016. "Global versus local shocks in micro price dynamics," Journal of International Economics, Elsevier, vol. 98(C), pages 78-92.
    28. Cristina Conflitti & Matteo Luciani, 2017. "Oil Price Pass-Through into Core Inflation," Finance and Economics Discussion Series 2017-085, Board of Governors of the Federal Reserve System (U.S.).
    29. Daniel Gründler, 2026. "Inflation expectations and time variations in the oil price pass‐through," Economic Inquiry, Western Economic Association International, vol. 64(2), pages 663-680, April.
    30. Claudio Barbieri & Mattia Guerini & Mauro Napoletano, 2021. "The Anatomy of Government Bond Yields Synchronization in the Eurozone," GREDEG Working Papers 2021-08, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    31. Claudio Borio, 2021. "Back to the future: intellectual challenges for monetary policy," BIS Working Papers 981, Bank for International Settlements.
    32. Truong, Chi & Sheen, Jeffrey & Trück, Stefan & Villafuerte, James, 2022. "Early warning systems using dynamic factor models: An application to Asian economies," Journal of Financial Stability, Elsevier, vol. 58(C).
    33. George Kapetanios & Massimiliano Marcellino, 2009. "A parametric estimation method for dynamic factor models of large dimensions," Journal of Time Series Analysis, Wiley Blackwell, vol. 30(2), pages 208-238, March.
    34. Kiselev, Aleksei & Zhivaykina, Aleksandra, 2020. "The role of global relative price changes in international comovement of inflation," The Journal of Economic Asymmetries, Elsevier, vol. 22(C).
    35. Luengo-Prado, María José & Rao, Nikhil & Sheremirov, Viacheslav, 2018. "Sectoral inflation and the Phillips curve: What has changed since the Great Recession?," Economics Letters, Elsevier, vol. 172(C), pages 63-68.
    36. Apaitan, Tosapol & Disyatat, Piti & Manopimoke, Pym, 2020. "Thai inflation dynamics: A view from disaggregated price data," Economic Modelling, Elsevier, vol. 84(C), pages 117-134.
    37. Aðalheiður Ó. Guðlaugsdóttir & Lilja S. Kro, 2018. "The common component of the CPI - A trendy measure of Icelandic underlying inflation," Economics wp78, Department of Economics, Central bank of Iceland.
    38. Subhasankar Chattopadhyay, 2022. "Inter‐sectoral relative price, inflation and structural transformation," Manchester School, University of Manchester, vol. 90(5), pages 524-540, September.
    39. Elena Deryugina & Natalia Karlova & Alexey Ponomarenko & Anna Tsvetkova, 2019. "The role of regional and sectoral factors in Russian inflation developments," Economic Change and Restructuring, Springer, vol. 52(4), pages 453-474, November.
    40. Hindrayanto, Irma & Koopman, Siem Jan & de Winter, Jasper, 2016. "Forecasting and nowcasting economic growth in the euro area using factor models," International Journal of Forecasting, Elsevier, vol. 32(4), pages 1284-1305.
    41. Vadim Napalkov & Anna Novak & Andrey Shulgin, 2021. "Variations in the Effects of a Single Monetary Policy: The Case of Russian Regions," Russian Journal of Money and Finance, Bank of Russia, vol. 80(1), pages 3-45, March.
    42. Yunjong Eo & Luis Uzeda & Benjamin Wong, 2023. "Understanding trend inflation through the lens of the goods and services sectors," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(5), pages 751-766, August.
    43. Mikael Khan & Louis Morel & Patrick Sabourin, 2013. "The Common Component of CPI: An Alternative Measure of Underlying Inflation for Canada," Staff Working Papers 13-35, Bank of Canada.
    44. Christoph Lauper & Giacomo Mangiante, 2024. "Monetary policy shocks and inflation inequality," Temi di discussione (Economic working papers) 1474, Bank of Italy, Economic Research and International Relations Area.
    45. Andrew C. Chang & Phillip Li, 2018. "Measurement Error In Macroeconomic Data And Economics Research: Data Revisions, Gross Domestic Product, And Gross Domestic Income," Economic Inquiry, Western Economic Association International, vol. 56(3), pages 1846-1869, July.
    46. Aleksei Kiselev & Aleksandra Zhivaykina, 2019. "The role of global relative price changes in international comovement of inflation," Bank of Russia Working Paper Series wps53, Bank of Russia.
    47. Koopman, Siem Jan & van der Wel, Michel, 2013. "Forecasting the US term structure of interest rates using a macroeconomic smooth dynamic factor model," International Journal of Forecasting, Elsevier, vol. 29(4), pages 676-694.
    48. Silvia Miranda-Agrippino & Hélène Rey, 2015. "US Monetary Policy and the Global Financial Cycle," NBER Working Papers 21722, National Bureau of Economic Research, Inc.
    49. Rita Soares, 2013. "Assessing monetary policy in the euro area: a factor-augmented VAR approach," Applied Economics, Taylor & Francis Journals, vol. 45(19), pages 2724-2744, July.
    50. Hie Joo Ahn & Matteo Luciani, 2026. "Common and Idiosyncratic Inflation," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 41(2), pages 156-168, March.
    51. Xu, Yingying & Lien, Donald, 2022. "Assessing the impact of COVID-19 on price Co-movements in China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
    52. Piyachart Phiromswad & Takeshi Yagihashi, 2016. "Empirical identification of factor models," Empirical Economics, Springer, vol. 51(2), pages 621-658, September.
    53. Alberto Humala & Gabriel Rodr�guez, 2012. "A factorial decomposition of inflation in Peru: an alternative measure of core inflation," Applied Economics Letters, Taylor & Francis Journals, vol. 19(14), pages 1331-1334, September.
    54. Jungbacker, B. & Koopman, S.J. & van der Wel, M., 2011. "Maximum likelihood estimation for dynamic factor models with missing data," Journal of Economic Dynamics and Control, Elsevier, vol. 35(8), pages 1358-1368, August.
    55. Romain Houssa & Lasse Bork & Hans Dewachter, 2008. "Identification of Macroeconomic Factors in Large Panels," Working Papers 1010, University of Namur, Department of Economics.
    56. Rey, Hélène & Miranda-Agrippino, Silvia, 2015. "World Asset Markets and the Global Financial Cycle," CEPR Discussion Papers 10936, Centre for Economic Policy Research.
    57. Tallman, Ellis W. & Zaman, Saeed, 2017. "Forecasting inflation: Phillips curve effects on services price measures," International Journal of Forecasting, Elsevier, vol. 33(2), pages 442-457.
    58. Di Iorio, Francesca & Fachin, Stefano, 2021. "Evaluating restricted common factor models for non-stationary data," Econometrics and Statistics, Elsevier, vol. 17(C), pages 64-75.
    59. Hie Joo Ahn & Han Chen & Michael Kister, 2026. "A New Indicator of Common Wage Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 58(3), pages 763-786, April.
    60. Caruso, Alberto, 2018. "Nowcasting with the help of foreign indicators: The case of Mexico," Economic Modelling, Elsevier, vol. 69(C), pages 160-168.
    61. Claudio Borio, 2019. "On money, debt, trust and central banking," BIS Working Papers 763, Bank for International Settlements.
    62. Bai, Jushan & Ng, Serena, 2013. "Principal components estimation and identification of static factors," Journal of Econometrics, Elsevier, vol. 176(1), pages 18-29.
    63. Choi, Chi-Young & O'Sullivan, Róisín, 2013. "Heterogeneous response of disaggregate inflation to monetary policy regime change: The role of price stickiness," Journal of Economic Dynamics and Control, Elsevier, vol. 37(9), pages 1814-1832.
    64. Matteo Barigozzi & Angelo Cuzzola & Marco Grazzi & Daniele Moschella, 2021. "Factoring in the micro: a transaction-level dynamic factor approach to the decomposition of export volatility," LEM Papers Series 2021/22, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    65. Cristina Conflitti, 2020. "Alternative measures of underlying inflation in the euro area," Questioni di Economia e Finanza (Occasional Papers) 593, Bank of Italy, Economic Research and International Relations Area.
    66. Philippe Andrade & Marios Zachariadis, 2010. "Trends in International Prices," University of Cyprus Working Papers in Economics 02-2010, University of Cyprus Department of Economics.
    67. Cantelmo, Alessandro & Melina, Giovanni, 2018. "Monetary policy and the relative price of durable goods," Journal of Economic Dynamics and Control, Elsevier, vol. 86(C), pages 1-48.
    68. Gregor W. Smith, 2009. "The Missing Links: Better Measures of Inflation and Inflation Expectations in Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 287, April.
    69. Theodore M. Crone & N. Neil K. Khettry & Loretta J. Mester & Jason A. Novak, 2011. "Core measures of inflation as predictors of total inflation," Working Papers 11-24, Federal Reserve Bank of Philadelphia.
    70. Claudio Borio, 2019. "Central banking in challenging times," BIS Working Papers 829, Bank for International Settlements.
    71. Marlene Amstad & Simon M. Potter & Robert W. Rich, 2014. "The FRBNY staff underlying inflation gauge: UIG," Staff Reports 672, Federal Reserve Bank of New York.
    72. Seunghoon Na & Hyunseung Oh, 2020. "Computerizing Households and the Role of Investment-Specific Productivity in Business Cycles," International Finance Discussion Papers 1292, Board of Governors of the Federal Reserve System (U.S.).
    73. B. Jungbacker & S.J. Koopman & M. van der Wel, 2009. "Dynamic Factor Analysis in The Presence of Missing Data," Tinbergen Institute Discussion Papers 09-010/4, Tinbergen Institute, revised 11 Mar 2011.

  53. Ricardo Reis & Mark W. Watson, 2007. "Measuring Changes in the Value of the Numeraire," Working Papers 2007-7, Princeton University. Economics Department..

    Cited by:

    1. Michał Brzoza-Brzezina & Jacek Kotłowski, 2009. "Bezwzględna stopa inflacji w gospodarce polskiej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 1-21.
    2. Ricardo Reis & Mark W. Watson, 2010. "Relative Goods' Prices, Pure Inflation, and the Phillips Correlation," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(3), pages 128-157, July.
    3. Mackowiak, Bartosz & Wiederholt, Mirko & Moench, Emanuel, 2009. "Sectoral Price Data and Models of Price Setting," CEPR Discussion Papers 7339, Centre for Economic Policy Research.
    4. Sudheer Chava & Wendi Du & Indrajit Mitra & Agam Shah & Linghang Zeng, 2025. "Firm-Level Input Price Changes and Their Effects: A Deep Learning Approach," FRB Atlanta Working Paper 2025-7, Federal Reserve Bank of Atlanta.
    5. Michal Brzoza-Brzezina & Jacek Kotlowski, 2009. "Estimating pure inflation in the Polish economy," Working Papers 37, Department of Applied Econometrics, Warsaw School of Economics.
    6. David Mayes & Matti Virén, 2010. "The Impact of Asset Prices and their Information Value for Monetary Policy," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(61), pages 134-167, August.
    7. Mark A. Wynne, 2008. "How should central banks define price stability?," Globalization Institute Working Papers 08, Federal Reserve Bank of Dallas.
    8. Dobrescu, Emilian, 2011. "Sectoral Structure and Economic Growth," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 5-36, September.
    9. Jean Boivin, 2009. "Getting it Right When You Might Be Wrong: The Choice Between Price-Level and Inflation Targeting," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 297, September.

  54. Watson, Mark, 2007. "Relative Goods? Prices and Pure Inflation," CEPR Discussion Papers 6593, Centre for Economic Policy Research.

    Cited by:

    1. Borus Jungbacker & Siem Jan Koopman & Michel van der Wel, 2009. "Smooth Dynamic Factor Analysis with an Application to the U.S. Term Structure of Interest Rates," CREATES Research Papers 2009-39, Department of Economics and Business Economics, Aarhus University.
    2. Michał Brzoza-Brzezina & Jacek Kotłowski, 2009. "Bezwzględna stopa inflacji w gospodarce polskiej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 1-21.
    3. Catherine Doz & Domenico Giannone & Lucrezia Reichlin, 2008. "A Quasi Maximum Likelihood Approach for Large Approximate Dynamic Factor Models," Working Papers ECARES 2008_034, ULB -- Universite Libre de Bruxelles.
    4. Michal Brzoza-Brzezina & Jacek Kotlowski, 2009. "Estimating pure inflation in the Polish economy," Working Papers 37, Department of Applied Econometrics, Warsaw School of Economics.
    5. Adrian Armas & Lucy Vallejos & Marco Vega, 2010. "Measurement of price indices used by the central bank of Peru," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy and the measurement of inflation: prices, wages and expectations, volume 49, pages 259-283, Bank for International Settlements.
    6. George Kapetanios & Massimiliano Marcellino, 2009. "A parametric estimation method for dynamic factor models of large dimensions," Journal of Time Series Analysis, Wiley Blackwell, vol. 30(2), pages 208-238, March.

  55. Mankiw, N. Gregory & Reis, Ricardo, 2007. "Sticky Information in General Equilibrium," Scholarly Articles 3415323, Harvard University Department of Economics.

    Cited by:

    1. Farmer, Roger E.A. & Nicolò, Giovanni, 2018. "Keynesian economics without the Phillips curve," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 137-150.
    2. Verona, Fabio, 2014. "Pervasive inattentiveness," Economics Letters, Elsevier, vol. 125(2), pages 287-290.
    3. Jan-Oliver Menz & Lena Vogel, 2009. "A Detailed Derivation of the Sticky Price and Sticky Information New Keynesian DSGE Model," Macroeconomics and Finance Series 200902, University of Hamburg, Department of Socioeconomics.
    4. Orlando Gomes, 2009. "The timing of information updates: a stability result," Economics Bulletin, AccessEcon, vol. 29(4), pages 2860-2869.
    5. Jian Gao & Gang Gong & Xue-Zhong He, 2007. "Monetary Policy and Exchange Rate Regime: Proposal for a Small and Less Developed Economy," Research Paper Series 199, Quantitative Finance Research Centre, University of Technology, Sydney.
    6. Monique Reid & Stan du Plessis, 2011. "Talking to the inattentive Public: How the media translates the Reserve Bank’s communications," Working Papers 19/2011, Stellenbosch University, Department of Economics.
    7. Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
    8. Bao, Te & Hommes, Cars & Pei, Jiaoying, 2021. "Expectation formation in finance and macroeconomics: A review of new experimental evidence," Journal of Behavioral and Experimental Finance, Elsevier, vol. 32(C).
    9. Fiechter, Chad & Kuethe, Todd & Zhang, Wendong, 2023. "Information Rigidities and Farmland Value Expectations," ISU General Staff Papers 202306131414240000, Iowa State University, Department of Economics.
    10. Verona, Fabio & Wolters, Maik H., 2013. "Sticky information models in Dynare," Bank of Finland Research Discussion Papers 5/2013, Bank of Finland.
    11. Lanne, Markku & Luoma, Arto & Luoto, Jani, 2008. "A Naïve Sticky Information Model of Households’ Inflation Expectations," MPRA Paper 8663, University Library of Munich, Germany.
    12. Tsiaplias, Sarantis, 2020. "Time-Varying Consumer Disagreement and Future Inflation," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    13. Chou, Jenyu & Easaw, Joshy & Minford, Patrick, 2021. "Does Inattentiveness Matter for DSGE Modelling? An Empirical Investigation," Cardiff Economics Working Papers E2021/35, Cardiff University, Cardiff Business School, Economics Section.
    14. Di Bartolomeo, Giovanni & Di Pietro, Marco & Giannini, Bianca, 2016. "Optimal monetary policy in a New Keynesian model with heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 73(C), pages 373-387.
    15. Akihisa Shibata & Mototsugu Shintani & Takayuki Tsuruga, 2018. "Current Account Dynamics under Information Rigidity and Imperfect Capital Mobility," ISER Discussion Paper 1036, Institute of Social and Economic Research, The University of Osaka.
    16. Drissi, Ramzi & Ghassan, Hassan B., 2018. "Sticky Price versus Sticky Information Price: Empirical Evidence in the New Keynesian Setting," MPRA Paper 93075, University Library of Munich, Germany, revised Apr 2019.
    17. Branch, William A. & McGough, Bruce, 2009. "A New Keynesian model with heterogeneous expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 33(5), pages 1036-1051, May.
    18. Robert G. Murphy, 2019. "Can the Phillips Curve Explain Inflation over the Past Half-Century?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(2), pages 137-149, May.
    19. Samuele Ridolfi, 2024. "Behavioral Macroeconomics: A Systematic Review for Policy Insights," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 8(S2), pages 35-42, December.
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    27. Adjemian, Stéphane & Karamé, Frédéric & Langot, François, 2021. "Nonlinearities and Workers' Heterogeneity in Unemployment Dynamics," IZA Discussion Papers 14822, IZA Network @ LISER.
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    29. Candelon, Bertrand & Metiu, Norbert & Straetmans, Stefan, 2013. "Disentangling economic recessions and depressions," Discussion Papers 43/2013, Deutsche Bundesbank.
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    33. Canova, Fabio & Michelacci, Claudio & López-Salido, J David, 2007. "The Labour Market Effects of Technology Shocks," CEPR Discussion Papers 6365, Centre for Economic Policy Research.
    34. Congressional Budget Office, 2022. "A Markov-Switching Model of the Unemployment Rate: Working Paper 2022-05," Working Papers 57582, Congressional Budget Office.
    35. Botelho, Vasco & Foroni, Claudia & Renzetti, Andrea, 2024. "Labour at risk," European Economic Review, Elsevier, vol. 170(C).
    36. Chacko George & Florian Kuhn, 2019. "Business Cycle Implications of Capacity Constraints under Demand Shocks," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 32, pages 94-121, April.
    37. Ryo Horii & Yoshiyasu Ono, 2022. "Financial crisis and slow recovery with Bayesian learning agents," International Journal of Economic Theory, The International Society for Economic Theory, vol. 18(4), pages 578-606, December.
    38. António Rua & Pedro Portugal, 2017. "Zooming the Ins and Outs of the U.S. Unemployment," Working Papers w201703, Banco de Portugal, Economics and Research Department.
    39. Bernstein, Joshua & Richter, Alexander W. & Throckmorton, Nathaniel A., 2021. "Cyclical net entry and exit," European Economic Review, Elsevier, vol. 136(C).
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    44. Kurt Graden Lunsford, 2023. "Business Cycles and Low-Frequency Fluctuations in the US Unemployment Rate," Working Papers 23-19, Federal Reserve Bank of Cleveland.
    45. Ayman Mnasri & Zouhair Mrabet & Mouyad Alsamara, 2023. "A new quadratic asymmetric error correction model: does size matter?," Empirical Economics, Springer, vol. 65(1), pages 33-64, July.
    46. Atolia, Manoj & Gibson, John & Marquis, Milton, 2018. "Asymmetry And The Amplitude Of Business Cycle Fluctuations: A Quantitative Investigation Of The Role Of Financial Frictions," Macroeconomic Dynamics, Cambridge University Press, vol. 22(2), pages 279-306, March.
    47. Francesco Corsello & Valerio Nispi Landi, 2020. "Labor Market and Financial Shocks: A Time‐Varying Analysis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(4), pages 777-801, June.
    48. Daniel, Betty & Hafner, Christian & Manner, Hans & Simar, Leopold, 2017. "Asymmetries in Business Cycles and the Role of Oil Prices," LIDAM Discussion Papers ISBA 2017010, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA).
    49. Gehrke, Britta & Weber, Enzo, 2017. "Identifying asymmetric effects of labor market reforms," IAB-Discussion Paper 201723, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    50. Kohlbrecher, Britta & Merkl, Christian & Nordmeier, Daniela, 2016. "Revisiting the matching function," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 350-374.
    51. Aubhik Khan & Soyoung Lee, 2023. "Persistent Debt and Business Cycles in an Economy with Production Heterogeneity," Staff Working Papers 23-17, Bank of Canada.
    52. Cheremukhin, Anton & Tutino, Antonella, 2016. "Information rigidities and asymmetric business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 73(C), pages 142-158.
    53. Giraldo, Carlos & Giraldo, Iader & Gomez-Gonzalez, Jose E. & Uribe, Jorge M., 2025. "Climate growth at risk in the global south," Energy Economics, Elsevier, vol. 149(C).
    54. Francesco Bianchi & Cosmin Ilut & Hikaru Saijo, 2024. "Smooth Diagnostic Expectations," ISER Discussion Paper 1249, Institute of Social and Economic Research, The University of Osaka.
    55. Salvador Pueyo, 2014. "Ecological Econophysics for Degrowth," Sustainability, MDPI, vol. 6(6), pages 1-53, May.
    56. Jisheng Yang & Nan Yang, 2023. "Macroeconomic shocks, investment volatility and centrality in global manufacturing network," Empirical Economics, Springer, vol. 65(3), pages 1433-1451, September.
    57. Peter Benczur & Attila Ratfai, 2010. "Economic fluctuations in Central and Eastern Europe: the facts," Applied Economics, Taylor & Francis Journals, vol. 42(25), pages 3279-3292.
    58. 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.
    59. Edoardo Gaffeo & Ivan Petrella & Damjan Pfajfar & Emiliano Santoro, 2012. "Loss Aversion and the Asymmetric Transmission of Monetary Policy," Discussion Papers 12-21, University of Copenhagen. Department of Economics.
    60. Domenico Ferraro, 2018. "The Asymmetric Cyclical Behavior of the U.S. Labor Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 30, pages 145-162, October.
    61. I-Ju Chen & Hsiangping Tsai & Yan-Shing Chen & Wei Chih Lin & Ting-Yu Li, 2025. "Bank performance and liquidity management," Review of Quantitative Finance and Accounting, Springer, vol. 64(4), pages 1453-1490, May.
    62. Donayre, Luiggi & Loomer, Lacey, 2025. "Regime-dependent health care employment dynamics in recessions," Research in Economics, Elsevier, vol. 79(2).
    63. 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.
    64. Giovanni Dosi & Marcelo C. Pereira & Gabriel Petrini & Andrea Roventini & Maria Enrica Virgillito, 2025. "From ABM back to real data: time series visualization and model selection in the K+S agent-based model," LEM Papers Series 2025/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    65. Régis Barnichon, 2009. "Demand-driven job separation: reconciling search models with the ins and outs of unemployment," Finance and Economics Discussion Series 2009-24, Board of Governors of the Federal Reserve System (U.S.).

  57. N. Gregory Mankiw & Ricardo Reis, 2006. "Pervasive Stickiness," Harvard Institute of Economic Research Working Papers 2111, Harvard - Institute of Economic Research.

    Cited by:

    1. Verona, Fabio, 2014. "Pervasive inattentiveness," Economics Letters, Elsevier, vol. 125(2), pages 287-290.
    2. Jan-Oliver Menz & Lena Vogel, 2009. "A Detailed Derivation of the Sticky Price and Sticky Information New Keynesian DSGE Model," Macroeconomics and Finance Series 200902, University of Hamburg, Department of Socioeconomics.
    3. Orlando Gomes, 2009. "The timing of information updates: a stability result," Economics Bulletin, AccessEcon, vol. 29(4), pages 2860-2869.
    4. Carstensen, Kai & Schenkelberg, Heike, 2011. "Time- or State-Dependence? An Analysis of Inflation Dynamics using German Business Survey Data," Discussion Papers in Economics 12170, University of Munich, Department of Economics.
    5. Monique Reid & Stan du Plessis, 2011. "Talking to the inattentive Public: How the media translates the Reserve Bank’s communications," Working Papers 19/2011, Stellenbosch University, Department of Economics.
    6. Luigi Paciello, 2012. "Monetary Policy and Price Responsiveness to Aggregate Shocks under Rational Inattention," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(7), pages 1375-1399, October.
    7. Emmanuel Dhyne & Jerzy Konieczny & Fabio Rumler & Patrick Sevestre, 2009. "Price rigidity in the euro area - An assessment," European Economy - Economic Papers 2008 - 2015 380, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    8. Lanne, Markku & Luoma, Arto & Luoto, Jani, 2008. "A Naïve Sticky Information Model of Households’ Inflation Expectations," MPRA Paper 8663, University Library of Munich, Germany.
    9. Chou, Jenyu & Easaw, Joshy & Minford, Patrick, 2021. "Does Inattentiveness Matter for DSGE Modelling? An Empirical Investigation," Cardiff Economics Working Papers E2021/35, Cardiff University, Cardiff Business School, Economics Section.
    10. Enrique Martínez García, 2008. "Globalization and monetary policy: an introduction," Globalization Institute Working Papers 11, Federal Reserve Bank of Dallas.
    11. Daley, Clayton, 2007. "A “Local” Model of the Firm: Sticky prices and the Phillips Curve," MPRA Paper 4012, University Library of Munich, Germany, revised 11 Jul 2007.
    12. Drissi, Ramzi & Ghassan, Hassan B., 2018. "Sticky Price versus Sticky Information Price: Empirical Evidence in the New Keynesian Setting," MPRA Paper 93075, University Library of Munich, Germany, revised Apr 2019.
    13. Lahiri, Kajal & Sheng, Xuguang, 2010. "Learning and heterogeneity in GDP and inflation forecasts," International Journal of Forecasting, Elsevier, vol. 26(2), pages 265-292, April.
    14. Carrera, César, 2012. "Estimating Information Rigidity using Firms’ Survey Data," Working Papers 2012-004, Banco Central de Reserva del Perú.
    15. Wändi Bruine de Bruin & Michael F. Bryan & Simon M. Potter & Giorgio Topa & Wilbert Van der Klaauw, 2008. "Rethinking the measurement of household inflation expectations: preliminary findings," Staff Reports 359, Federal Reserve Bank of New York.
    16. Beutel, Johannes & Metiu, Norbert & Stockerl, Valentin, 2021. "Toothless tiger with claws? Financial stability communication, expectations, and risk-taking," Discussion Papers 05/2021, Deutsche Bundesbank.
    17. Gomes, Orlando, 2013. "Information stickiness on general equilibrium and endogenous cycles," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 7, pages 1-43.
    18. Patrick Bolton & Antoine Faure-Grimaud, 2009. "Thinking Ahead: The Decision Problem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(4), pages 1205-1238.
    19. Jonas Dovern & Joerg Doepke & Ulrich Fritsche & Jirka Slacalek, 2006. "Sticky Information Phillips Curves: European Evidence," Macroeconomics and Finance Series 200604, University of Hamburg, Department of Socioeconomics.
    20. Mehmet Fatih, Ekinci, 2010. "Inattentive Consumers and Exchange Rate Volatility," MPRA Paper 26472, University Library of Munich, Germany, revised 31 Oct 2010.
    21. Acharya, Sushant, 2010. "Costly Information, Planning Complementarity and the New Keynesian Phillips Curve," MPRA Paper 22514, University Library of Munich, Germany.
    22. Lena Dräger & Ulrich Fritsche, 2013. "Don't Worry, Be Right! Survey Wording Effects on In flation Perceptions and Expectations," Macroeconomics and Finance Series 201308, University of Hamburg, Department of Socioeconomics.
    23. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, Paradigm, vol. 14(2), pages 145-164, June.
    24. Jonas Dovern & Joerg Doepke & Ulrich Fritsche & Jirka Slacalek, 2006. "The Dynamics of European Inflation Expectations," Macroeconomics and Finance Series 200603, University of Hamburg, Department of Socioeconomics.
    25. Gomes, Orlando, 2012. "Attentiveness cycles: Synchronized behavior and aggregate fluctuations," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 66(3), October.
    26. Sushant Acharya, 2014. "Costly information, planning complementarities and the Phillips Curve," Staff Reports 698, Federal Reserve Bank of New York.
    27. Yingying Xu & Zhixin Liu & Zichao Jia & Chi-Wei Su, 2017. "Is time-variant information stickiness state-dependent?," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 16(3), pages 169-187, December.
    28. Carrillo, Julio A., 2012. "How well does sticky information explain the dynamics of inflation, output, and real wages?," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 830-850.
    29. Klenow, Peter J. & Willis, Jonathan L., 2007. "Sticky information and sticky prices," Journal of Monetary Economics, Elsevier, vol. 54(Supplemen), pages 79-99, September.
    30. Orlando Gomes, 2012. "Transitional Dynamics in Sticky-Information General Equilibrium Models," Computational Economics, Springer;Society for Computational Economics, vol. 39(4), pages 387-407, April.
    31. Easaw, Joshy & Golinelli, Roberto, 2014. "Inflation Expectations and the Two Forms of Inattentiveness," Cardiff Economics Working Papers E2014/21, Cardiff University, Cardiff Business School, Economics Section.
    32. Monique Reid, 2012. "Inflation Expectations of the Inattentive General Public," Working Papers 08/2012, Stellenbosch University, Department of Economics.
    33. John Barrdear, 2014. "Peering into the mist: social learning over an opaque observation network," Discussion Papers 1409, Centre for Macroeconomics (CFM).
    34. Gomes Orlando, 2009. "The Sticky Information Macro Model: Beyond Perfect Foresight," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 14(1), pages 1-37, December.
    35. Zi-Yi Guo, 2017. "International Real Business Cycle Models with Incomplete Information," Proceedings of Economics and Finance Conferences 4507458, International Institute of Social and Economic Sciences.
    36. Leonardo Melosi, 2009. "A Likelihood Analysis of Models with Information Frictions," 2009 Meeting Papers 1034, Society for Economic Dynamics.
    37. Central Reserve Bank of Peru, 2023. "eru: labour market, wages and monetary policy in the aftermath of Covid-19," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation and labour markets, volume 127, pages 221-236, Bank for International Settlements.
    38. Orlando Gomes, 2012. "Endogenous Heterogeneity, the Propagation of Information and Macroeconomic Complexity," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 6(1), pages 38-58, March.
    39. Verona, Fabio, 2012. "Lumpy investment in sticky information general equilibrium," IMFS Working Paper Series 55, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    40. Guo, Zi-Yi, 2017. "International Real Business Cycle Models with Incomplete Information," EconStor Preprints 168432, ZBW - Leibniz Information Centre for Economics.
    41. Martínez-García Enrique, 2010. "A Model of the Exchange Rate with Informational Frictions," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-39, January.
    42. Paul Grauwe, 2011. "Animal spirits and monetary policy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 47(2), pages 423-457, June.
    43. Paul De Grauwe, 2010. "Top-Down versus Bottom-Up Macroeconomics," CESifo Working Paper Series 3020, CESifo.
    44. M. Murat Arslan, 2013. "Optimal Monetary Policy With The Sticky Information Model Of Price Adjustment: Inflation Or Price-Level Targeting?," Bulletin of Economic Research, Wiley Blackwell, vol. 65, pages 106-129, May.
    45. Enrique Martínez García, 2007. "A monetary model of the exchange rate with informational frictions," Globalization Institute Working Papers 02, Federal Reserve Bank of Dallas.
    46. F. Alvarez & F. Lippi & L. Paciello, 2010. "Optimal price setting with observation and menu costs," 2010 Meeting Papers 478, Society for Economic Dynamics.
    47. Pete Klenow, 2009. "EconomicDynamics Interviews Pete Klenow on Price Rigidity," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 11(1), November.
    48. Takii, Katsuya, 2009. "Limited attention, interaction and the gradual adjustment of a firm's decisions," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 345-362, February.
    49. Ray C. Fair, 2006. "Evaluating Inflation Targeting Using a Macroeconometric Model," Levine's Bibliography 321307000000000303, UCLA Department of Economics.
    50. Oleksiy Kryvtsov & Luba Petersen, 2019. "Central Bank Communication That Works: Lessons from Lab Experiments," Staff Working Papers 19-21, Bank of Canada.
    51. Chong, Terence Tai Leung & Wu, Zhang, 2018. "Price Rigidity in China: Empirical Results at Home and Abroad," MPRA Paper 92013, University Library of Munich, Germany.
    52. Roth, Christopher & Wohlfart, Johannes, 2018. "How do expectations about the macroeconomy affect personal expectations and behavior?," IMFS Working Paper Series 128, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    53. Fair, Ray C., 2007. "Evaluating Inflation Targeting Using a Macroeconometric Model," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 1, pages 1-52.
    54. Charles T. Carlstrom & Timothy S. Fuerst & Matthias Paustian, 2012. "Inflation and output in New Keynesian models with a transient interest rate peg," Working Papers (Old Series) 1234, Federal Reserve Bank of Cleveland.
    55. Edward S. Knotek Ii, 2010. "A Tale of Two Rigidities: Sticky Prices in a Sticky‐Information Environment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1543-1564, December.
    56. Ekinci, Mehmet Fatih, 2017. "Inattentive consumers and international business cycles," Journal of International Money and Finance, Elsevier, vol. 72(C), pages 1-27.
    57. Vega-Gutierrez, Pedro Luis & López-Iturriaga, Félix J. & Rodriguez-Sanz, Juan Antonio, 2021. "Labour market conditions and the corporate financing decision: A European analysis," Research in International Business and Finance, Elsevier, vol. 58(C).
    58. Leonardo Melosi, 2012. "Signaling effects of monetary policy," Working Paper Series WP-2012-05, Federal Reserve Bank of Chicago.
    59. Gaurav Kumar Singh & Tathagata Bandyopadhyay, 2024. "Determinants of disagreement: Learning from inflation expectations survey of households," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(2), pages 326-343, March.
    60. Thorvardur Tjörvi Ólafsson, 2006. "The New Keynesian Phillips Curve: In Search of Improvements and Adaptation to the Open Economy," Economics wp31_tjorvi, Department of Economics, Central bank of Iceland.
    61. Schenkelberg, Heike, 2011. "Why are Prices Sticky? Evidence from Business Survey Data," Discussion Papers in Economics 12158, University of Munich, Department of Economics.
    62. Philip Arestis & Alexander Mihailov, 2011. "Classifying Monetary Economics: Fields And Methods From Past To Future," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 769-800, September.
    63. Gomes, Orlando, 2012. "Thought experimentation and the Phillips curve," Research in Economics, Elsevier, vol. 66(1), pages 45-64.
    64. Youze Lang & Qiuyi Yang, 2019. "Does Public Infrastructure Breed Consumption Downgrade and Overcapacity in China? A DSGE Approach on Macroeconomic Effects," Sustainability, MDPI, vol. 11(3), pages 1-23, February.
    65. Carrera, César & Puch, Miguel, 2019. "Consumption dynamics and the expectation channel in a Small Open Economy," Working Papers 2019-008, Banco Central de Reserva del Perú.
    66. Pierre-Daniel G. Sarte, 2010. "Learning about informational rigidities from sectoral data and diffusion indices," Working Paper 10-09, Federal Reserve Bank of Richmond.
    67. Paciello, Luigi, 2009. "Monetary Policy Activism and Price Responsiveness to Aggregate Shocks under Rational Inattention," MPRA Paper 16407, University Library of Munich, Germany.
    68. Lahiri, Kajal & Sheng, Xuguang, 2008. "Evolution of forecast disagreement in a Bayesian learning model," Journal of Econometrics, Elsevier, vol. 144(2), pages 325-340, June.
    69. N. Gregory Mankiw & Ricardo Reis, 2006. "Sticky Information in General Equilibrium," NBER Working Papers 12605, National Bureau of Economic Research, Inc.
    70. Michael J. Lamla & Thomas Maag, 2012. "The Role of Media for Inflation Forecast Disagreement of Households and Professional Forecasters," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(7), pages 1325-1350, October.

  58. Mankiw, N Gregory, 2006. "Pervasive Stickiness (Expanded Version)," CEPR Discussion Papers 5521, Centre for Economic Policy Research.

    Cited by:

    1. Verona, Fabio, 2014. "Pervasive inattentiveness," Economics Letters, Elsevier, vol. 125(2), pages 287-290.
    2. Monique Reid & Stan du Plessis, 2011. "Talking to the inattentive Public: How the media translates the Reserve Bank’s communications," Working Papers 19/2011, Stellenbosch University, Department of Economics.
    3. Luigi Paciello, 2012. "Monetary Policy and Price Responsiveness to Aggregate Shocks under Rational Inattention," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(7), pages 1375-1399, October.
    4. Drissi, Ramzi & Ghassan, Hassan B., 2018. "Sticky Price versus Sticky Information Price: Empirical Evidence in the New Keynesian Setting," MPRA Paper 93075, University Library of Munich, Germany, revised Apr 2019.
    5. Lahiri, Kajal & Sheng, Xuguang, 2010. "Learning and heterogeneity in GDP and inflation forecasts," International Journal of Forecasting, Elsevier, vol. 26(2), pages 265-292, April.
    6. Carrera, César, 2012. "Estimating Information Rigidity using Firms’ Survey Data," Working Papers 2012-004, Banco Central de Reserva del Perú.
    7. Wändi Bruine de Bruin & Michael F. Bryan & Simon M. Potter & Giorgio Topa & Wilbert Van der Klaauw, 2008. "Rethinking the measurement of household inflation expectations: preliminary findings," Staff Reports 359, Federal Reserve Bank of New York.
    8. Beutel, Johannes & Metiu, Norbert & Stockerl, Valentin, 2021. "Toothless tiger with claws? Financial stability communication, expectations, and risk-taking," Discussion Papers 05/2021, Deutsche Bundesbank.
    9. Gomes, Orlando, 2013. "Information stickiness on general equilibrium and endogenous cycles," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 7, pages 1-43.
    10. Chou, Jenyu & Easaw, Joshy & Minford, Patrick, 2023. "Does inattentiveness matter for DSGE modeling? An empirical investigation," Economic Modelling, Elsevier, vol. 118(C).
    11. Patrick Bolton & Antoine Faure-Grimaud, 2009. "Thinking Ahead: The Decision Problem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 76(4), pages 1205-1238.
    12. Lena Dräger & Ulrich Fritsche, 2013. "Don't Worry, Be Right! Survey Wording Effects on In flation Perceptions and Expectations," Macroeconomics and Finance Series 201308, University of Hamburg, Department of Socioeconomics.
    13. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, Paradigm, vol. 14(2), pages 145-164, June.
    14. Gomes, Orlando, 2012. "Attentiveness cycles: Synchronized behavior and aggregate fluctuations," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 66(3), October.
    15. Yingying Xu & Zhixin Liu & Zichao Jia & Chi-Wei Su, 2017. "Is time-variant information stickiness state-dependent?," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 16(3), pages 169-187, December.
    16. Carrillo, Julio A., 2012. "How well does sticky information explain the dynamics of inflation, output, and real wages?," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 830-850.
    17. Orlando Gomes, 2012. "Transitional Dynamics in Sticky-Information General Equilibrium Models," Computational Economics, Springer;Society for Computational Economics, vol. 39(4), pages 387-407, April.
    18. Easaw, Joshy & Golinelli, Roberto, 2014. "Inflation Expectations and the Two Forms of Inattentiveness," Cardiff Economics Working Papers E2014/21, Cardiff University, Cardiff Business School, Economics Section.
    19. Monique Reid, 2012. "Inflation Expectations of the Inattentive General Public," Working Papers 08/2012, Stellenbosch University, Department of Economics.
    20. John Barrdear, 2014. "Peering into the mist: social learning over an opaque observation network," Discussion Papers 1409, Centre for Macroeconomics (CFM).
    21. Gomes Orlando, 2009. "The Sticky Information Macro Model: Beyond Perfect Foresight," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 14(1), pages 1-37, December.
    22. Zi-Yi Guo, 2017. "International Real Business Cycle Models with Incomplete Information," Proceedings of Economics and Finance Conferences 4507458, International Institute of Social and Economic Sciences.
    23. Leonardo Melosi, 2009. "A Likelihood Analysis of Models with Information Frictions," 2009 Meeting Papers 1034, Society for Economic Dynamics.
    24. Central Reserve Bank of Peru, 2023. "eru: labour market, wages and monetary policy in the aftermath of Covid-19," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation and labour markets, volume 127, pages 221-236, Bank for International Settlements.
    25. Orlando Gomes, 2012. "Endogenous Heterogeneity, the Propagation of Information and Macroeconomic Complexity," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 6(1), pages 38-58, March.
    26. Martínez-García Enrique, 2010. "A Model of the Exchange Rate with Informational Frictions," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-39, January.
    27. M. Murat Arslan, 2013. "Optimal Monetary Policy With The Sticky Information Model Of Price Adjustment: Inflation Or Price-Level Targeting?," Bulletin of Economic Research, Wiley Blackwell, vol. 65, pages 106-129, May.
    28. F. Alvarez & F. Lippi & L. Paciello, 2010. "Optimal price setting with observation and menu costs," 2010 Meeting Papers 478, Society for Economic Dynamics.
    29. Takii, Katsuya, 2009. "Limited attention, interaction and the gradual adjustment of a firm's decisions," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 345-362, February.
    30. Oleksiy Kryvtsov & Luba Petersen, 2019. "Central Bank Communication That Works: Lessons from Lab Experiments," Staff Working Papers 19-21, Bank of Canada.
    31. Chong, Terence Tai Leung & Wu, Zhang, 2018. "Price Rigidity in China: Empirical Results at Home and Abroad," MPRA Paper 92013, University Library of Munich, Germany.
    32. Jörg Döpke & Jonas Dovern & Ulrich Fritsche & Jiri Slacalek, 2008. "Sticky Information Phillips Curves: European Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(7), pages 1513-1520, October.
    33. Fair, Ray C., 2007. "Evaluating Inflation Targeting Using a Macroeconometric Model," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 1, pages 1-52.
    34. Lanne, Markku & Luoma, Arto & Luoto, Jani, 2009. "A naïve sticky information model of households' inflation expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 33(6), pages 1332-1344, June.
    35. Ekinci, Mehmet Fatih, 2017. "Inattentive consumers and international business cycles," Journal of International Money and Finance, Elsevier, vol. 72(C), pages 1-27.
    36. Vega-Gutierrez, Pedro Luis & López-Iturriaga, Félix J. & Rodriguez-Sanz, Juan Antonio, 2021. "Labour market conditions and the corporate financing decision: A European analysis," Research in International Business and Finance, Elsevier, vol. 58(C).
    37. Leonardo Melosi, 2012. "Signaling effects of monetary policy," Working Paper Series WP-2012-05, Federal Reserve Bank of Chicago.
    38. Gaurav Kumar Singh & Tathagata Bandyopadhyay, 2024. "Determinants of disagreement: Learning from inflation expectations survey of households," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 43(2), pages 326-343, March.
    39. Thorvardur Tjörvi Ólafsson, 2006. "The New Keynesian Phillips Curve: In Search of Improvements and Adaptation to the Open Economy," Economics wp31_tjorvi, Department of Economics, Central bank of Iceland.
    40. Schenkelberg, Heike, 2011. "Why are Prices Sticky? Evidence from Business Survey Data," Discussion Papers in Economics 12158, University of Munich, Department of Economics.
    41. Philip Arestis & Alexander Mihailov, 2011. "Classifying Monetary Economics: Fields And Methods From Past To Future," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 769-800, September.
    42. Gomes, Orlando, 2012. "Thought experimentation and the Phillips curve," Research in Economics, Elsevier, vol. 66(1), pages 45-64.
    43. Youze Lang & Qiuyi Yang, 2019. "Does Public Infrastructure Breed Consumption Downgrade and Overcapacity in China? A DSGE Approach on Macroeconomic Effects," Sustainability, MDPI, vol. 11(3), pages 1-23, February.
    44. Carrera, César & Puch, Miguel, 2019. "Consumption dynamics and the expectation channel in a Small Open Economy," Working Papers 2019-008, Banco Central de Reserva del Perú.
    45. Lahiri, Kajal & Sheng, Xuguang, 2008. "Evolution of forecast disagreement in a Bayesian learning model," Journal of Econometrics, Elsevier, vol. 144(2), pages 325-340, June.
    46. Michael J. Lamla & Thomas Maag, 2012. "The Role of Media for Inflation Forecast Disagreement of Households and Professional Forecasters," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(7), pages 1325-1350, October.

  59. Ricardo Reis, 2005. "The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuation," NBER Working Papers 11297, National Bureau of Economic Research, Inc.

    Cited by:

    1. Mauricio A. Hernández & Munir A. Jalil & Carlos Esteban Posada, 2005. "El Costo de los Ciclos Económicos en Colombia: Una Nueva Estimación," Borradores de Economia 353, Banco de la Republica de Colombia.
    2. Marco Letta & Pierluigi Montalbano & Richard S.J. Tol, 2017. "Temperature shocks, growth and poverty thresholds: evidence from rural Tanzania," Working Paper Series 2117, Department of Economics, University of Sussex Business School.
    3. Marcin Bielecki & Michał Brzoza-Brzezina & Marcin Kolasa, 2026. "The redistributive power of business cycle fluctuations," Working Papers 2026-2, Faculty of Economic Sciences, University of Warsaw.
    4. Jean-Olivier Hairault & François Langot & Sophie Osotimehin, 2010. "Matching frictions, unemployment dynamics and the cost of business cycles," Post-Print hal-00516832, HAL.
    5. Magrini, Emiliano & Montalbano, Pierluigi & Winters, L. Alan, 2018. "Households’ vulnerability from trade in Vietnam," World Development, Elsevier, vol. 112(C), pages 46-58.
    6. Wang, Peng-fei & Wen, Yi, 2011. "Volatility, growth, and welfare," Journal of Economic Dynamics and Control, Elsevier, vol. 35(10), pages 1696-1709, October.
    7. Buch, Claudia M. & Yener, Serkan, 2005. "Consumption Volatility and Financial Openness," Kiel Working Papers 1260, Kiel Institute for the World Economy.
    8. Alessandro Federici & Pierluigi Montalbano, 2012. "Macroeconomic volatility, consumption behaviour and welfare: A cross-country analysis," Working Paper Series 3612, Department of Economics, University of Sussex Business School.
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    3. Jung, Alexander & Latsos, Sophia, 2015. "Do federal reserve bank presidents have a regional bias?," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 173-183.
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    6. Ahmed Jamal Pirzada, 2017. "Energy Price Uncertainty and Decreasing Pass-through to Core Inflation," Bristol Economics Discussion Papers 17/681, School of Economics, University of Bristol, UK, revised 30 May 2017.
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    26. Matthias Neuenkirch & Peter Tillmann, 2013. "Does a Good Central Banker make a Difference?," MAGKS Papers on Economics 201354, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
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    Cited by:

    1. Wojciech Charemza & Imran Hussain Shah, 2012. "Stability Price Index, Core Inflation and Output Volatility," Discussion Papers in Economics 12/21, Division of Economics, School of Business, University of Leicester.
    2. Mojmir Hampl & Tomas Havranek, 2017. "Should Inflation Measures Used by Central Banks Incorporate House Prices? The Czech Approach," Working Papers IES 2017/12, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2017.
    3. Tomas Havranek & Mojmir Hampl, 2017. "Should Inflation Measures Used by Central Banks Incorporate House Prices? The Czech National Bank's Approach," Research and Policy Notes 2017/01, Czech National Bank, Research and Statistics Department.
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    8. Franklin Allen & Jun & Chenying Zhang & Mengxin Zhao, 2012. "China's Financial System: Opportunities and Challenges," NBER Chapters, in: Capitalizing China, pages 63-143, National Bureau of Economic Research, Inc.
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    4. Clements, Michael P., 2008. "Explanations of the inconsistencies in survey respondents'forecasts," The Warwick Economics Research Paper Series (TWERPS) 870, University of Warwick, Department of Economics.
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    7. Pfajfar, D. & Santoro, E., 2012. "News on Inflation and the Epidemiology of Inflation Expectations," Other publications TiSEM 515ee09e-b946-439f-afff-d, Tilburg University, School of Economics and Management.
    8. Eijffinger, Sylvester & Hoogduin, Lex & van der Cruijsen, Carin, 2008. "Optimal Central Bank Transparency," CEPR Discussion Papers 6889, Centre for Economic Policy Research.
    9. Oleg Korenok, 2005. "Empirical Comparison of Sticky Price and Sticky Information Models," Macroeconomics 0510004, University Library of Munich, Germany.
    10. Fernando Alvarez & Francesco Lippi & Juan Passadore, 2016. "Are State- and Time-Dependent Models Really Different?," NBER Chapters, in: NBER Macroeconomics Annual 2016, Volume 31, pages 379-457, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Pfajfar, D. & Santoro, E., 2012. "News on Inflation and the Epidemiology of Inflation Expectations," Other publications TiSEM 515ee09e-b946-439f-afff-d, Tilburg University, School of Economics and Management.
    2. Oleg Korenok, 2005. "Empirical Comparison of Sticky Price and Sticky Information Models," Macroeconomics 0510004, University Library of Munich, Germany.
    3. Konstantin Styrin & Oleg Zamulin, 2003. "Estimating Price Rigidities in the Russian Real Estate Markets," Working Papers w0026, Center for Economic and Financial Research (CEFIR).
    4. Monique Reid & Stan du Plessis, 2011. "Talking to the inattentive Public: How the media translates the Reserve Bank’s communications," Working Papers 19/2011, Stellenbosch University, Department of Economics.
    5. Kajal Lahiri & Gultekin Isiklar, 2010. "Estimating International Transmission of Shocks Using GDP Forecasts: India and Its Trading Partners," Discussion Papers 10-06, University at Albany, SUNY, Department of Economics.
    6. Pedersen, Michael, 2015. "What affects the predictions of private forecasters? The role of central bank forecasts in Chile," International Journal of Forecasting, Elsevier, vol. 31(4), pages 1043-1055.
    7. Paloviita, Maritta, 2008. "Estimating open economy Phillips curves for the euro area with directly measured expectations," Bank of Finland Research Discussion Papers 16/2008, Bank of Finland.
    8. Michael Kiley, 2002. "The lead of output over inflation in sticky price models," Economics Bulletin, AccessEcon, vol. 5(5), pages 1-7.
    9. Slacalek, Jirka & Fritsche, Ulrich & Dovern, Jonas & Döpke, Jörg, 2005. "European inflation expectations dynamics," Discussion Paper Series 1: Economic Studies 2005,37, Deutsche Bundesbank.
    10. Masahiro Hori & Satoshi Shimizutani, 2005. "Price expectations and consumption under deflation: evidence from Japanese household survey data," International Economics and Economic Policy, Springer, vol. 2(2), pages 127-151, November.
    11. Pfajfar, D., 2012. "Formation of Rationally Heterogeneous Expectations," Discussion Paper 2012-083, Tilburg University, Center for Economic Research.
    12. Daniel de Munnik & Kuan Xu, 2007. "Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms," Staff Working Papers 07-31, Bank of Canada.
    13. Jonas Dovern & Joerg Doepke & Ulrich Fritsche & Jirka Slacalek, 2006. "Sticky Information Phillips Curves: European Evidence," Macroeconomics and Finance Series 200604, University of Hamburg, Department of Socioeconomics.
    14. Mankiw, N. Gregory & Reis, Ricardo & Wolfers, Justin, 2003. "Disagreement about Inflation Expectations," Research Papers 1807, Stanford University, Graduate School of Business.
    15. George Chouliarakis & Mónica Correa-López, 2009. "A Fair Wage Model of Unemployment with Inertia in Fairness Perceptions," Centre for Growth and Business Cycle Research Discussion Paper Series 130, Economics, The University of Manchester.
    16. Mankiw, N. Gregory & Reis, Ricardo, 2002. "What measure of inflation should a central bank target?," Working Paper Series 170, European Central Bank.
    17. Fuhrer, Jeffrey C. & Rudebusch, Glenn D., 2004. "Estimating the Euler equation for output," Journal of Monetary Economics, Elsevier, vol. 51(6), pages 1133-1153, September.
    18. Bharat Trehan, 2003. "Productivity shocks and the unemployment rate," Economic Review, Federal Reserve Bank of San Francisco, pages 13-27.
    19. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, Paradigm, vol. 14(2), pages 145-164, June.
    20. Maritta Paloviita, 2008. "Comparing alternative Phillips curve specifications: European results with survey-based expectations," Applied Economics, Taylor & Francis Journals, vol. 40(17), pages 2259-2270.
    21. Ioana A. Duca & Geoff Kenny & Andreas Reuter, 2019. "Inflation Expectations, Consumption and the Lower Bound: Micro Evidence from a Large Euro Area Survey," European Economy - Discussion Papers 092, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    22. Lena Dräger, 2011. "Endogenous Persistence with Recursive Inattentiveness," Macroeconomics and Finance Series 201103, University of Hamburg, Department of Socioeconomics.
    23. Mankiw, N Gregory, 2006. "Pervasive Stickiness (Expanded Version)," CEPR Discussion Papers 5521, Centre for Economic Policy Research.
    24. Monique Reid, 2012. "Inflation Expectations of the Inattentive General Public," Working Papers 08/2012, Stellenbosch University, Department of Economics.
    25. Paloviita, Maritta, 2005. "Comparing alternative Phillips curve specifications: European results with survey-based expectations," Bank of Finland Research Discussion Papers 22/2005, Bank of Finland.
    26. Maritta Paloviita, 2009. "Estimating open economy Phillips curves for the euro area with directly measured expectations," New Zealand Economic Papers, Taylor & Francis Journals, vol. 43(3), pages 233-254.
    27. Ronny Mazzocchi & Roberto Tamborini & Hans-Michael Trautwein, 2009. "The Two Triangles: what did Wicksell and Keynes know about macroeconomics that modern economists do not (consider)?," Department of Economics Working Papers 0906, Department of Economics, University of Trento, Italia.
    28. Benczúr, Péter, 2002. "A nominálárfolyam viselkedése monetáris rezsimváltás után [The behaviour of the nominal exchange rate after a change of monetary regime]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 816-837.
    29. N. Gregory Mankiw & Ricardo Reis, 2006. "Pervasive Stickiness," American Economic Review, American Economic Association, vol. 96(2), pages 164-169, May.
    30. Paloviita, Maritta, 2007. "Estimating a small DSGE model under rational and measured expectations: some comparisons," Bank of Finland Research Discussion Papers 14/2007, Bank of Finland.
    31. Martin Sommer & Christopher Carroll, 2004. "Epidemiological expectations and consumption dynamics," Money Macro and Finance (MMF) Research Group Conference 2003 92, Money Macro and Finance Research Group.
    32. Mr. Jacques A Miniane, 2004. "Productivity Shocks, Learning, and Open Economy Dynamics," IMF Working Papers 2004/088, International Monetary Fund.
    33. Blanchflower, David G. & Oswald, Andrew J., 2005. "The Wage Curve Reloaded," IZA Discussion Papers 1665, IZA Network @ LISER.
    34. Christie Smith, 2004. "The long-run effects of monetary policy on output growth," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, September.
    35. William Luther, 2014. "Evenly rotating economy: A new modeling technique for an old equilibrium construct," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(4), pages 403-417, December.
    36. Arioli, Rodolfo & Bates, Colm & Dieden, Heinz Christian & Duca, Ioana & Friz, Roberta & Gayer, Christian & Kenny, Geoff & Meyler, Aidan & Pavlova, Iskra, 2017. "EU consumers’ quantitative inflation perceptions and expectations: an evaluation," Occasional Paper Series 186, European Central Bank.
    37. Rudebusch, Glenn D, 2005. "Assessing the Lucas Critique in Monetary Policy Models," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(2), pages 245-272, April.
    38. Dizioli, Allan & Wang, Hou, 2024. "How do adaptive learning expectations rationalize stronger monetary policy response in Brazil?," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 5(1).
    39. Flamini Alessandro, 2012. "Economic Stability and the Choice of the Target Inflation Index," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(2), pages 1-37, April.
    40. Jordi Mondria, 2006. "Financial Contagion and Attention Allocation," Working Papers tecipa-254, University of Toronto, Department of Economics.
    41. Luisa Corrado & Sean Holly, 2004. "Habit Formation and Interest Rate Smoothing," CDMA Conference Paper Series 0404, Centre for Dynamic Macroeconomic Analysis.
    42. Bovi, Maurizio, 2013. "Are the representative agent’s beliefs based on efficient econometric models?," Journal of Economic Dynamics and Control, Elsevier, vol. 37(3), pages 633-648.
    43. Cameron A. Shelton, 2007. "The Information Content of Elections and Varieties of the Partisan Political Business Cycle," Wesleyan Economics Working Papers 2007-003, Wesleyan University, Department of Economics.
    44. Kotłowski, Jacek, 2025. "The role of central bank forecasts in uncertain times," Economic Modelling, Elsevier, vol. 151(C).
    45. Ricardo Reis, 2004. "Inattentive Consumers," NBER Working Papers 10883, National Bureau of Economic Research, Inc.
    46. Jiri Slacalek, 2004. "Productivity and the Natural Rate of Unemployment," Discussion Papers of DIW Berlin 461, DIW Berlin, German Institute for Economic Research.
    47. Lena Vogel, 2008. "The Relationship between the Hybrid New Keynesian Phillips Curve and the NAIRU over Time," Macroeconomics and Finance Series 200803, University of Hamburg, Department of Socioeconomics.
    48. Jacques Sapir, 2018. "The EMU’s Twisted Foundations: How to Use and Misuse Economic Theory," Studies on Russian Economic Development, Springer, vol. 29(5), pages 497-506, September.
    49. Paradiso, Antonio & Rao, B. Bhaskara & Ventura, Marco, 2011. "Estimates of the Sticky-Information Phillips Curve for the USA with the General to Specific Method," MPRA Paper 28867, University Library of Munich, Germany.
    50. Fritsche, Ulrich, 2006. "Ergebnisse der ökonometrischen Untersuchung zum Forschungsprojekt Wirtschaftspolitische Regime westlicher Industrienationen," Working Papers 24, Berlin School of Economics and Law, Institute of Management Berlin (IMB).
    51. Andrea Tambalotti, 2004. "Optimal monetary policy and productivity growth," Money Macro and Finance (MMF) Research Group Conference 2003 99, Money Macro and Finance Research Group.
    52. Gordon  Menzies & Daniel John Zizzo, 2004. "Inferential Expectations," Economics Series Working Papers 187, University of Oxford, Department of Economics.
    53. de Mendonça, Helder Ferreira & de Deus, Joseph David Barroso Vasconcelos, 2019. "Central bank forecasts and private expectations: An empirical assessment from three emerging economies," Economic Modelling, Elsevier, vol. 83(C), pages 234-244.

Articles

  1. Jens Hilscher & Alon Raviv & Ricardo Reis, 2026. "How Likely Is an Inflation Disaster?," The Review of Financial Studies, Society for Financial Studies, vol. 39(3), pages 744-782.
    See citations under working paper version above.
  2. Laura Castillo-Martinez & Ricardo Reis, 2026. "How Do Central Banks Control Inflation? A Guide for the Perplexed," Journal of Economic Literature, American Economic Association, vol. 64(1), pages 195-245, March.
    See citations under working paper version above.
  3. Ricardo Reis, 2023. "Four Mistakes in the Use of Measures of Expected Inflation," AEA Papers and Proceedings, American Economic Association, vol. 113, pages 47-51, May.
    See citations under working paper version above.
  4. Jens Hilscher & Alon Raviv & Ricardo Reis, 2022. "Inflating Away the Public Debt? An Empirical Assessment," The Review of Financial Studies, Society for Financial Studies, vol. 35(3), pages 1553-1595.
    See citations under working paper version above.
  5. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
    See citations under working paper version above.
  6. Saleem Bahaj & Ricardo Reis, 2022. "The Economics of Liquidity Lines Between Central Banks," Annual Review of Financial Economics, Annual Reviews, vol. 14(1), pages 57-74, November.
    See citations under working paper version above.
  7. Ricardo Reis & Silvana Tenreyro, 2022. "Helicopter Money: What Is It and What Does It Do?," Annual Review of Economics, Annual Reviews, vol. 14(1), pages 313-335, August.
    See citations under working paper version above.
  8. Saleem Bahaj & Ricardo Reis, 2022. "Central Bank Swap Lines: Evidence on the Effects of the Lender of Last Resort," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(4), pages 1654-1693.
    See citations under working paper version above.
  9. Alisdair McKay & Ricardo Reis, 2021. "Optimal Automatic Stabilizers," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(5), pages 2375-2406.
    See citations under working paper version above.
  10. Ricardo Reis, 2021. "Losing the Inflation Anchors," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 52(2 (Fall)), pages 307-379.
    See citations under working paper version above.
  11. Ricardo Reis, 2018. "Is something really wrong with macroeconomics?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 34(1-2), pages 132-155.
    See citations under working paper version above.
  12. N. Gregory Mankiw & Ricardo Reis, 2018. "Friedman's Presidential Address in the Evolution of Macroeconomic Thought," Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 81-96, Winter.
    See citations under working paper version above.
  13. Markus K. Brunnermeier & Sam Langfield & Marco Pagano & Ricardo Reis & Stijn Van Nieuwerburgh & Dimitri Vayanos, 2017. "ESBies: safety in the tranches," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 32(90), pages 175-219.
    See citations under working paper version above.
  14. Ricardo Reis, 2017. "QE in the Future: The Central Bank’s Balance Sheet in a Fiscal Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(1), pages 71-112, April.
    See citations under working paper version above.
  15. Markus K. Brunnermeier & Luis Garicano & Philip R. Lane & Marco Pagano & Ricardo Reis & Tano Santos & David Thesmar & Stijn Van Nieuwerburgh & Dimitri Vayanos, 2016. "The Sovereign-Bank Diabolic Loop and ESBies," American Economic Review, American Economic Association, vol. 106(5), pages 508-512, May.
    See citations under working paper version above.
  16. Alisdair McKay & Ricardo Reis, 2016. "The Role of Automatic Stabilizers in the U.S. Business Cycle," Econometrica, Econometric Society, vol. 84, pages 141-194, January.
    See citations under working paper version above.
  17. Ricardo Reis, 2015. "Looking for a Success in the Euro Crisis Adjustment Programs: The Case of Portugal," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 433-458.
    See citations under working paper version above.
  18. Ricardo Reis, 2013. "Central Bank Design," Journal of Economic Perspectives, American Economic Association, vol. 27(4), pages 17-44, Fall.
    See citations under working paper version above.
  19. Ricardo Reis, 2013. "The Mystique Surrounding the Central Bank's Balance Sheet, Applied to the European Crisis," American Economic Review, American Economic Association, vol. 103(3), pages 135-140, May.
    See citations under working paper version above.
  20. Ricardo Reis, 2013. "The Portugese Slump and Crash and the Euro Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 44(1 (Spring), pages 143-210.
    See citations under working paper version above.
  21. Oh, Hyunseung & Reis, Ricardo, 2012. "Targeted transfers and the fiscal response to the great recession," Journal of Monetary Economics, Elsevier, vol. 59(S), pages 50-64.
    See citations under working paper version above.
  22. Ricardo Reis & Mark W. Watson, 2010. "Relative Goods' Prices, Pure Inflation, and the Phillips Correlation," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(3), pages 128-157, July.
    See citations under working paper version above.
  23. Ricardo Reis, 2009. "The Time-Series Properties of Aggregate Consumption: Implications for the Costs of Fluctuations," Journal of the European Economic Association, MIT Press, vol. 7(4), pages 722-753, June.
    See citations under working paper version above.
  24. Ricardo Reis, 2009. "Interpreting the Unconventional U.S. Monetary Policy of 2007-09," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 40(2 (Fall)), pages 119-182.
    See citations under working paper version above.
  25. Ricardo Reis, 2009. "Optimal Monetary Policy Rules in an Estimated Sticky-Information Model," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(2), pages 1-28, July.

    Cited by:

    1. Verona, Fabio, 2014. "Pervasive inattentiveness," Economics Letters, Elsevier, vol. 125(2), pages 287-290.
    2. Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
    3. Jürgen Jerger & Oke Röhe, 2012. "Testing for Parameter Stability in DSGE Models. The Cases of France, Germany, Italy, and Spain," Working Papers 118, Bavarian Graduate Program in Economics (BGPE).
    4. Chou, Jenyu & Easaw, Joshy & Minford, Patrick, 2021. "Does Inattentiveness Matter for DSGE Modelling? An Empirical Investigation," Cardiff Economics Working Papers E2021/35, Cardiff University, Cardiff Business School, Economics Section.
    5. Jenyu Chou & Yifei Cao & Patrick Minford, 2023. "Evaluation and indirect inference estimation of inattentive features in a New Keynesian framework," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(3), pages 530-542, April.
    6. Verona, Fabio, 2013. "Investment dynamics with information costs," Bank of Finland Research Discussion Papers 18/2013, Bank of Finland.
    7. Jerger, Jürgen & Röhe, Oke, 2009. "Testing for Parameter Stability in DSGE Models. The Cases of France, Germany and Spain," University of Regensburg Working Papers in Business, Economics and Management Information Systems 453, University of Regensburg, Department of Economics.
    8. Cassou, Steven P. & Vázquez, Jesús, 2025. "Preference for consumption predictability and the equity premium puzzle," International Review of Economics & Finance, Elsevier, vol. 103(C).
    9. Mathieu Pedemonte & Hiroshi Toma & Esteban Verdugo, 2023. "Aggregate Implications of Heterogeneous Inflation Expectations: The Role of Individual Experience," Working Papers 23-04, Federal Reserve Bank of Cleveland.
    10. Olivier J. Blanchard, 2008. "The State of Macro," NBER Working Papers 14259, National Bureau of Economic Research, Inc.
    11. Yingying XU & Zhixin LIU & Jaime ORTIZ, 2018. "Actual and Expected Inflation in the U.S.: A Time-Frequency View," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 42-62, December.
    12. Angeletos, G.-M. & Lian, C., 2016. "Incomplete Information in Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1065-1240, Elsevier.
    13. Hess Chung & Edward Herbst & Michael T. Kiley, 2014. "Effective Monetary Policy Strategies in New Keynesian Models: A Re-examination," NBER Working Papers 20611, National Bureau of Economic Research, Inc.
    14. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, Paradigm, vol. 14(2), pages 145-164, June.
    15. An, Zidong & Zheng, Xinye, 2023. "Diligent forecasters can make accurate predictions despite disagreeing with the consensus," Economic Modelling, Elsevier, vol. 125(C).
    16. Verona, Fabio, 2013. "Lumpy investment in sticky information general equilibrium," Bank of Finland Research Discussion Papers 16/2013, Bank of Finland.
    17. N. Gregory Mankiw & Ricardo Reis, 2010. "Imperfect Information and Aggregate Supply," NBER Working Papers 15773, National Bureau of Economic Research, Inc.
    18. Carrillo, Julio A., 2012. "How well does sticky information explain the dynamics of inflation, output, and real wages?," Journal of Economic Dynamics and Control, Elsevier, vol. 36(6), pages 830-850.
    19. Latsos Sophia, 2018. "Real Wage Effects of Japan’s Monetary Policy," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 69(1), pages 177-215, July.
    20. Sayag, Doron & Snir, Avichai & Levy, Daniel, 2025. "Sticky information and price controls: Evidence from a natural experiment," MPRA Paper 123756, University Library of Munich, Germany.
    21. Boeck, Maximilian & Zörner, Thomas O., 2025. "Natural gas prices, inflation expectations, and the pass-through to euro area inflation," Energy Economics, Elsevier, vol. 141(C).
    22. Deák, Szabolcs & Levine, Paul & Mirza, Afrasiab & Pearlman, Joseph, 2025. "All models are wrong but all can be useful: Robust policy design using prediction pools," Journal of Economic Dynamics and Control, Elsevier, vol. 176(C).
    23. Gust, Christopher & Herbst, Edward & López-Salido, David, 2026. "Inflation expectations with finite horizon planning," Journal of Economic Dynamics and Control, Elsevier, vol. 182(C).
    24. Paolo Gelain & Simone Manganelli, 2020. "Monetary Policy with Judgment," Working Papers 20-14, Federal Reserve Bank of Cleveland.
    25. Darracq Pariès, Matthieu & Notarpietro, Alessandro & Kilponen, Juha & Papadopoulou, Niki & Zimic, Srečko & Aldama, Pierre & Langenus, Geert & Alvarez, Luis Julian & Lemoine, Matthieu & Angelini, Elena, 2021. "Review of macroeconomic modelling in the Eurosystem: current practices and scope for improvement," Occasional Paper Series 267, European Central Bank.
    26. Zidong An & Salem Abo‐Zaid & Xuguang Simon Sheng, 2023. "Inattention and the impact of monetary policy," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(4), pages 623-643, June.
    27. Paul Hubert & Harun Mirza, 2019. "The role of forward- and backward-looking information for inflation expectations formation," Post-Print hal-03403616, HAL.
    28. M. Murat Arslan, 2013. "Optimal Monetary Policy With The Sticky Information Model Of Price Adjustment: Inflation Or Price-Level Targeting?," Bulletin of Economic Research, Wiley Blackwell, vol. 65, pages 106-129, May.
    29. Yazmín V. Soriano-Morales & Francisco Venegas-Martínez & Benjamín Vallejo-Jiménez, 2015. "Determination of the equilibrium expansion rate of money when money supply is driven by a time-homogeneous Markov modulated jump diffusion process," Economics Bulletin, AccessEcon, vol. 35(4), pages 2074-2084.
    30. Paul Hubert & Harun Mirza, 2014. "Inflation expectation dynamics:the role of past, present and forward looking information," Documents de Travail de l'OFCE 2014-07, Observatoire Francais des Conjonctures Economiques (OFCE).
    31. Szabolcs Deak & Paul Levine & Afrasiab Mirza & Son Pham, 2023. "Negotiating the Wilderness of Bounded Rationality through Robust Policy," School of Economics Discussion Papers 0223, School of Economics, University of Surrey.
    32. Luo, Yulei & Qu, Lijuan & Wang, Gaowang, 2026. "Optimal Monetary Policy under Rational Inattention and a Cost Channel," MPRA Paper 128958, University Library of Munich, Germany.
    33. Deák, Szabolcs & Levine, Paul & Mirza, Afrasiab & Pham, Son T., 2026. "Negotiating the wilderness of bounded rationality through robust policy," Journal of Economic Behavior & Organization, Elsevier, vol. 245(C).
    34. Teles, Pedro & Tristani, Oreste, 2024. "The monetary financing of a large fiscal shock," Journal of Monetary Economics, Elsevier, vol. 147(S).
    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. Szabolcs Deak & Paul Levine & Afrasiab Mirza & Joseph Pearlman, 2021. "Is Price Level Targeting a Robust Monetary Rule?," Discussion Papers 2104, University of Exeter, Department of Economics.
    37. Lambertini, Luisa & Mendicino, Caterina & Teresa Punzi, Maria, 2013. "Leaning against boom–bust cycles in credit and housing prices," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1500-1522.
    38. Snir, Avichai & Levy, Daniel, 2011. "Shrinking Goods and Sticky Prices: Theory and Evidence," MPRA Paper 29565, University Library of Munich, Germany.
    39. Carlsson, Mikael & Nordström Skans, Oskar, 2009. "Evaluating microfoundations for aggregate price regidities: evidence from matched firm-level data on product prices and unit labor cost," Working Paper Series 1083, European Central Bank.
    40. De Grauwe, Paul & Macchiarelli, Corrado, 2015. "Animal spirits and credit cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 59(C), pages 95-117.
    41. Aruoba, S. Borağan & Drechsel, Thomas, 2024. "The long and variable lags of monetary policy: Evidence from disaggregated price indices," Journal of Monetary Economics, Elsevier, vol. 148(S).
    42. Yingying Xu & Zhi-Xin Liu & Hsu-Ling Chang & Adelina Dumitrescu Peculea & Chi-Wei Su, 2017. "Does self-fulfilment of the inflation expectation exist?," Applied Economics, Taylor & Francis Journals, vol. 49(11), pages 1098-1113, March.
    43. Marta Areosa & Waldyr Areosa & Vinicius Carrasco, 2010. "A Sticky-Dispersed Information Phillips Curve: A model with partial and delayed information," Textos para discussão 565, Department of Economics PUC-Rio (Brazil).
    44. Christian Jensen, 2017. "Aggregate Evidence on Price Rigidities and the Inflation-Output Trade-Off: A Factor Analysis of Factor Shares," Annals of Economics and Finance, Society for AEF, vol. 18(2), pages 227-252, November.
    45. Anmol Bhandari & Jaroslav Borovička & Paul Ho, 2016. "Identifying Ambiguity Shocks in Business Cycle Models Using Survey Data," NBER Working Papers 22225, National Bureau of Economic Research, Inc.
    46. Mankiw, N. Gregory & Reis, Ricardo, 2007. "Sticky Information in General Equilibrium," Scholarly Articles 3415323, Harvard University Department of Economics.

  26. McKay, Alisdair & Reis, Ricardo, 2008. "The brevity and violence of contractions and expansions," Journal of Monetary Economics, Elsevier, vol. 55(4), pages 738-751, May.
    See citations under working paper version above.
  27. N. Gregory Mankiw & Ricardo Reis, 2007. "Sticky Information in General Equilibrium," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 603-613, 04-05.
    See citations under working paper version above.
  28. Pivetta, Frederic & Reis, Ricardo, 2007. "The persistence of inflation in the United States," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1326-1358, April.

    Cited by:

    1. Mohitosh Kejriwal, 2020. "A Robust Sequential Procedure for Estimating the Number of Structural Changes in Persistence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(3), pages 669-685, June.
    2. Delle Monache, Davide & Petrella, Ivan, 2017. "Adaptive models and heavy tails with an application to inflation forecasting," International Journal of Forecasting, Elsevier, vol. 33(2), pages 482-501.
    3. Gerlach, Stefan & Stuart, Rebecca, 2025. "Have we under-estimated inflation persistence before WW1? US and international evidence," QUCEH Working Paper Series 25-05, Queen's University Belfast, Queen's University Centre for Economic History.
    4. Francis Leni Anguyo & Rangan Gupta & Kevin Kotzé, 2017. "Inflation Dynamics in Uganda: A Quantile Regression Approach," Working Papers 201772, University of Pretoria, Department of Economics.
    5. Gaglianone, Wagner Piazza & Guillén, Osmani Teixeira de Carvalho & Figueiredo, Francisco Marcos Rodrigues, 2018. "Estimating inflation persistence by quantile autoregression with quantile-specific unit roots," Economic Modelling, Elsevier, vol. 73(C), pages 407-430.
    6. Peter Tillmann, 2010. "The changing nature of inflation persistence in Switzerland," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 37(4), pages 445-453, November.
    7. Philipp Sibbertsen & Robinson Kruse, 2009. "Testing for a break in persistence under long‐range dependencies," Journal of Time Series Analysis, Wiley Blackwell, vol. 30(3), pages 263-285, May.
    8. Ibrahim Abdulhamid Danlami, 2019. "Inflation Persistence in the West African Commonwealth Countries," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(3), pages 80-89, September.
    9. Karanassou, Marika & Sala, Héctor & Snower, Dennis J., 2007. "The evolution of inflation and unemployment: Explaining the roaring nineties," Kiel Working Papers 1350, Kiel Institute for the World Economy.
    10. Pavon-Prado, David, 2019. "Have we been measuring monetary policy correctly? Analysing the Federal Reserve’s policies over the last century," IFCS - Working Papers in Economic History.WH 28342, Universidad Carlos III de Madrid. Instituto Figuerola.
    11. George Hondroyiannis & Sophia Lazaretou, 2004. "Inflation Persistence during Periods of Structural Change: An Assessment Using Greek Data," Working Papers 13, Bank of Greece.
    12. Zsuzsanna Zsibók & Balázs Varga, 2012. "Inflation Persistence in Hungary: a Spatial Analysis," Working Papers 1203, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest.
    13. Jan Čapek, 2016. "Structural Changes in the Czech Economy: A DSGE Model Approach," Prague Economic Papers, Prague University of Economics and Business, vol. 2016(1), pages 37-52.
    14. Alfredo Marvão Pereira & José Manuel Belbute, 2011. "Final energy demand in Portugal: How persistent it is and why it matters for environmental policy," Economics Working Papers 2_2011, University of Évora, Department of Economics (Portugal).
    15. Robert Grafstein, 2009. "The Puzzle of Weak Pocketbook Voting," Journal of Theoretical Politics, , vol. 21(4), pages 451-482, October.
    16. Trebbi, Giovanni, 2025. "Inflation narratives and expectations," Working Paper Series 3158, European Central Bank.
    17. Alonso Gomez & John M Maheu & Alex Maynard, 2008. "Improving Forecasts of Inflation using the Term Structure of Interest Rates," Working Papers tecipa-319, University of Toronto, Department of Economics.
    18. Xindi Wang & Zeshui Xu & Xinxin Wang & Marinko Skare, 2022. "A review of inflation from 1906 to 2022: a comprehensive analysis of inflation studies from a global perspective," Oeconomia Copernicana, Institute of Economic Research, vol. 13(3), pages 595-631, September.
    19. Hector Carcel & Luis A. Gil-Alana, 2018. "Inflation analysis in the Central American Monetary Council," Empirical Economics, Springer, vol. 54(2), pages 547-565, March.
    20. Todd E. Clark, 2003. "Disaggregate evidence on the persistence of consumer price inflation," Research Working Paper RWP 03-11, Federal Reserve Bank of Kansas City.
    21. J. M. Belbute & Júlio A. Delgado & Suzana C. Monteiro & Teresa E. Pascoa, 2016. "Measuring persistence in nominal exchange rate: Implications for Angola’s entrepreneurship and business development," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 6(3), pages 1180-1180.
    22. Jan Capek, 2014. "Historical Analysis of Monetary Policy Reaction Functions: Do Real-Time Data Matter?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 64(6), pages 457-475, December.
    23. Guglielmo Maria Caporale & Luis Alberiko Gil‐Alana & Tommaso Trani, 2022. "On the persistence of UK inflation: A long‐range dependence approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 439-454, January.
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    167. Manopimoke, Pym & Limjaroenrat, Vorada, 2017. "Trend inflation estimates for Thailand from disaggregated data," Economic Modelling, Elsevier, vol. 65(C), pages 75-94.
    168. Todd E. Clark & Michael W. McCracken, 2003. "The predictive content of the output gap for inflation : resolving in-sample and out-of-sample evidence," Research Working Paper RWP 03-06, Federal Reserve Bank of Kansas City.
    169. Giorgio Canarella & Stephen M. Miller, 2016. "Inflation Targeting: New Evidence from Fractional Integration and Cointegration," Working papers 2016-08, University of Connecticut, Department of Economics.
    170. Ahmad, Yamin S. & Staveley-O’Carroll, Olena M., 2017. "Exploring international differences in inflation dynamics," Journal of International Money and Finance, Elsevier, vol. 79(C), pages 115-135.
    171. Adam Check & Jeremy Piger, 2021. "Structural Breaks in U.S. Macroeconomic Time Series: A Bayesian Model Averaging Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(8), pages 1999-2036, December.
    172. David Gbaguidi, 2012. "La courbe de Phillips : temps d’arbitrage et/ou arbitrage de temps," L'Actualité Economique, Société Canadienne de Science Economique, vol. 88(1), pages 87-119.
    173. James H. Stock & Mark W. Watson, 2006. "Why Has U.S. Inflation Become Harder to Forecast?," NBER Working Papers 12324, National Bureau of Economic Research, Inc.
    174. Mr. James P Walsh, 2011. "Reconsidering the Role of Food Prices in Inflation," IMF Working Papers 2011/071, International Monetary Fund.
    175. Timothy Cogley & Giorgio E. Primiceri & Thomas J. Sargent, 2008. "Inflation-Gap Persistence in the U.S," NBER Working Papers 13749, National Bureau of Economic Research, Inc.
    176. Gamber, Edward N. & Smith, Julie K. & Eftimoiu, Raluca, 2015. "The dynamic relationship between core and headline inflation," Journal of Economics and Business, Elsevier, vol. 81(C), pages 38-53.
    177. Kim, Dukpa, 2011. "Estimating a common deterministic time trend break in large panels with cross sectional dependence," Journal of Econometrics, Elsevier, vol. 164(2), pages 310-330, October.
    178. Sakiru Adebola Solarin & Carmen Lafuente & Luis A. Gil-Alana & María Jesús González-Blanch, 2025. "Persistence in the Unemployment and Inflation Relationship. Evidence from 38 OECD Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 1236-1257, March.
    179. Perricone, Chiara, 2018. "Clustering macroeconomic variables," Structural Change and Economic Dynamics, Elsevier, vol. 44(C), pages 23-33.
    180. Canarella, Giorgio & Miller, Stephen M., 2017. "Inflation targeting and inflation persistence: New evidence from fractional integration and cointegration," Journal of Economics and Business, Elsevier, vol. 92(C), pages 45-62.
    181. Bob Nobay & Ivan Paya & David A. Peel, 2010. "Inflation Dynamics in the U.S.: Global but Not Local Mean Reversion," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(1), pages 135-150, February.
    182. Philip Arestis & Michail Karoglou & Kostas Mouratidis, 2016. "Monetary Policy Preferences of the EMU and the UK," Manchester School, University of Manchester, vol. 84(4), pages 528-550, July.

  29. Reis, Ricardo, 2007. "The analytics of monetary non-neutrality in the Sidrauski model," Economics Letters, Elsevier, vol. 94(1), pages 129-135, January.

    Cited by:

    1. Jan-Oliver Menz & Lena Vogel, 2009. "A Detailed Derivation of the Sticky Price and Sticky Information New Keynesian DSGE Model," Macroeconomics and Finance Series 200902, University of Hamburg, Department of Socioeconomics.
    2. 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.
    3. Brito, Paulo & Marini, Giancarlo & Piergallini, Alessandro, 2016. "House Prices and Monetary Policy," MPRA Paper 89577, University Library of Munich, Germany.
    4. Ricardo Reis, 2009. "Interpreting the Unconventional U.S. Monetary Policy of 2007-09," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 40(2 (Fall)), pages 119-182.
    5. Claudio Borio & Piti Disyatat & Mikael Juselius & Phurichai Rungcharoenkitkul, 2017. "Why so low for so long? A long-term view of real interest rates," BIS Working Papers 685, Bank for International Settlements.
    6. Lioui, Abraham & Poncet, Patrice, 2012. "On model ambiguity and money neutrality," Journal of Macroeconomics, Elsevier, vol. 34(4), pages 1020-1033.
    7. Piergallini, Alessandro, 2019. "Demographic Change and Real House Prices: A General Equilibrium Perspective," MPRA Paper 112073, University Library of Munich, Germany.
    8. Reis, Ricardo, 2018. "Comment on "Michelson-Morley, Fisher, and Occam: the radical implications of stable quiet inflation at the zero bound"," LSE Research Online Documents on Economics 85665, London School of Economics and Political Science, LSE Library.
    9. Miyazaki, Kenji, 2013. "On recursive utility and the superneutrality of money," Economic Modelling, Elsevier, vol. 32(C), pages 483-487.
    10. Alessandro Piergallini, 2019. "Nonlinear policy behavior, multiple equilibria and debt-deflation attractors," Journal of Evolutionary Economics, Springer, vol. 29(2), pages 563-580, April.
    11. Lioui, Abraham & Poncet, Patrice, 2008. "Monetary non-neutrality in the Sidrauski model under uncertainty," Economics Letters, Elsevier, vol. 100(1), pages 22-26, July.
    12. Piergallini, Alessandro, 2017. "Fiscal Policy and Liquidity Traps with Heterogeneous Agents," MPRA Paper 88798, University Library of Munich, Germany.
    13. Faria, Joao Ricardo & McAdam, Peter & Viscolani, Bruno, 2021. "Monetary policy, neutrality and the environment," Working Paper Series 2573, European Central Bank.
    14. Sonali Das & Rangan Gupta & Patrick Kanda & Monique Reid & Christian Tipoy & Mulatu Zerihun, 2014. "Real interest rate persistence in South Africa: evidence and implications," Economic Change and Restructuring, Springer, vol. 47(1), pages 41-62, February.
    15. Thomas Lejeune & Raf Wouters, 2019. "A macroeconomic model with heterogeneous and financially-constrained intermediaries," Working Paper Research 367, National Bank of Belgium.
    16. Romina Bafile & Alessandro Piergallini, 2017. "Firms’ money demand and monetary policy," Pacific Economic Review, Wiley Blackwell, vol. 22(3), pages 350-382, August.
    17. Hiroaki Hayakawa, 2020. "Consumer behavior in a monetary economy and smoothing of composite consumption," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 10(1), pages 89-122, March.

  30. Reis, Ricardo, 2006. "Inattentive consumers," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 1761-1800, November.
    See citations under working paper version above.
  31. N. Gregory Mankiw & Ricardo Reis, 2006. "Pervasive Stickiness," American Economic Review, American Economic Association, vol. 96(2), pages 164-169, May.
    See citations under working paper version above.
  32. Ricardo Reis, 2006. "Inattentive Producers," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(3), pages 793-821.
    See citations under working paper version above.
  33. Ball, Laurence & Gregory Mankiw, N. & Reis, Ricardo, 2005. "Monetary policy for inattentive economies," Journal of Monetary Economics, Elsevier, vol. 52(4), pages 703-725, May.
    See citations under working paper version above.
  34. Alan S. Blinder & Ricardo Reis, 2005. "Understanding the Greenspan standard," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 11-96.
    See citations under working paper version above.
  35. N. Gregory Mankiw & Ricardo Reis, 2003. "What Measure of Inflation Should a Central Bank Target?," Journal of the European Economic Association, MIT Press, vol. 1(5), pages 1058-1086, September.
    See citations under working paper version above.
  36. Reis Ricardo, 2003. "Where Is the Natural Rate? Rational Policy Mistakes and Persistent Deviations of Inflation from Target," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-40, September.

    Cited by:

    1. Klaus Schmidt-Hebbel & Carl E. Walsh, 2009. "Monetary Policy And Key Unobservables: Evidence From Large Industrial And Selected Inflation-Targeting Countries," Working Papers Central Bank of Chile 527, Central Bank of Chile.
    2. Sharon Kozicki & Peter A. Tinsley, 2005. "Minding the gap : central bank estimates of the unemployment natural rate," Research Working Paper RWP 05-03, Federal Reserve Bank of Kansas City.
    3. Guido Lorenzoni, 2006. "A Theory of Demand Shocks," NBER Working Papers 12477, National Bureau of Economic Research, Inc.
    4. Yates, Anthony & Ellison, Martin, 2007. "Escaping Nash and Volatile Inflation," CEPR Discussion Papers 6483, Centre for Economic Policy Research.
    5. Louisa Grimm & Sven Steinkamp & Frank Westermann, 2025. "On Optimal Currency Areas: Common Shocks Versus Common Persistence of Shocks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 30(4), pages 3825-3837, October.
    6. Richard Mash, 2004. "Optimising Microfoundations for Inflation Persistence," Economics Series Working Papers 183, University of Oxford, Department of Economics.
    7. Frederic S. Mishkin & Niklas J. Westelius, 2008. "Inflation Band Targeting and Optimal Inflation Contracts," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 557-582, June.
    8. Queijo von Heideken, Virginia, 2008. "Monetary Policy Regimes and the Volatility of Long-Term Interest Rates," Working Paper Series 220, Sveriges Riksbank (Central Bank of Sweden).
    9. Reis, Ricardo, 2022. "Losing the inflation anchor," LSE Research Online Documents on Economics 112462, London School of Economics and Political Science, LSE Library.
    10. Brian Snowdon, 2007. "The New Classical Counter-Revolution: False Path or Illuminating Complement?," Eastern Economic Journal, Eastern Economic Association, vol. 33(4), pages 541-562, Fall.
    11. Carola Conces Binder, 2021. "Central Bank Communication and Disagreement about the Natural Rate Hypothesis," International Journal of Central Banking, International Journal of Central Banking, vol. 17(2), pages 81-123, June.
    12. Gersbach, Hans & Hahn, Volker, 2003. "Signalling and Commitment: Monetary versus Inflation Targeting," CEPR Discussion Papers 4151, Centre for Economic Policy Research.
    13. Alan S. Blinder & Ricardo Reis, 2005. "Understanding the Greenspan Standard," Working Papers 88, Princeton University, Department of Economics, Center for Economic Policy Studies..
    14. Guido Lorenzoni, 2007. "News Shocks and Optimal Monetary Policy," NBER Working Papers 12898, National Bureau of Economic Research, Inc.

  37. N. Gregory Mankiw & Ricardo Reis, 2002. "Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1295-1328.
    See citations under working paper version above.
  38. Hoggarth, Glenn & Reis, Ricardo & Saporta, Victoria, 2002. "Costs of banking system instability: Some empirical evidence," Journal of Banking & Finance, Elsevier, vol. 26(5), pages 825-855, May.
    See citations under working paper version above.
  39. N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky information versus sticky prices: a proposal to replace the New-Keynesian Phillips curve," Proceedings, Federal Reserve Bank of San Francisco, issue jun.

    Cited by:

    1. Marika Karanassou & Hector Sala & Dennis J. Snower, 2002. "A Reappraisal of the Inflation-Unemployment Tradeoff," Working Papers 479, Queen Mary University of London, School of Economics and Finance.
    2. Monique Reid & Stan du Plessis, 2011. "Talking to the inattentive Public: How the media translates the Reserve Bank’s communications," Working Papers 19/2011, Stellenbosch University, Department of Economics.
    3. Jeffery D. Amato & Thomas Laubach, 2002. "Rule-of-thumb behaviour and monetary policy," Finance and Economics Discussion Series 2002-5, Board of Governors of the Federal Reserve System (U.S.).
    4. Mark J Zbaracki & Mark Ritson & Daniel Levy & Shantanu Dutta & Mark Bergen, 2004. "Managerial and Customer Costs of Price Adjustment: Direct Evidence from Industrial Markets," Post-Print hal-02386836, HAL.
    5. Kamel Helali & Thouraya Boujelbene Dammak, 2019. "Examining the Role of Structural Change in a Phillips Curve: Bivariate GARCH DCC Analysis," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 385-393, September.
    6. Aaron MEHROTRA, 2004. "Could Japan Target the Price Level or Inflation - What Happens to Monetary Policy Effectiveness during Disinflation?," Economics Working Papers ECO2004/02, European University Institute.
    7. Kevin J. Lansing, 2000. "Learning About a Shift in Trend Output: Implications for Monetary Policy and Inflation," Working Paper Series 2000-16, Federal Reserve Bank of San Francisco.
    8. Campbell Leith & Jim Malley, 2003. "A Sectoral Analysis of Price-Setting Behavior in US Manufacturing Industries," CESifo Working Paper Series 984, CESifo.
    9. Ilek, David & Ilek, Alex, 2007. "The Information Content of Inflationary Expectations Derived from Bond Prices in Israel," MPRA Paper 4704, University Library of Munich, Germany.
    10. Campbell Leith & Jim Malley, 2002. "Estimated General Equilibrium Models for the Evaluation of Monetary Policy in the US and Europe," CESifo Working Paper Series 699, CESifo.
    11. N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information: A Model of Monetary Nonneutrality and Structural Slumps," Harvard Institute of Economic Research Working Papers 1941, Harvard - Institute of Economic Research.
    12. Campbell Leith & Jim Malley, 2007. "Estimated Open Economy New Keynesian Phillips Curves for the G7," Open Economies Review, Springer, vol. 18(4), pages 405-426, September.
    13. Thesmar, David & Bouchaud, Jean-Philippe & Krueger, Philipp & Landier, Augustin, 2017. "Sticky Expectations and the Profi tability Anomaly," CEPR Discussion Papers 12528, Centre for Economic Policy Research.
    14. Jeremy B. Rudd & Karl Whelan, 2001. "New tests of the New-Keynesian Phillips curve," Finance and Economics Discussion Series 2001-30, Board of Governors of the Federal Reserve System (U.S.).
    15. Merkl, Christian, 2013. "Disinflationary booms?," Kiel Working Papers 1851, Kiel Institute for the World Economy.
    16. Almeida, Heitor & Bonomo, Marco, 2002. "Optimal state-dependent rules, credibility, and inflation inertia," Journal of Monetary Economics, Elsevier, vol. 49(7), pages 1317-1336, October.
    17. Frijters, Paul & de New, John & Shields, Michael A., 2002. "Individual Rationality and Learning: Welfare Expectations in East Germany Post-Reunification," IZA Discussion Papers 498, IZA Network @ LISER.
    18. Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Optimal Fiscal and Monetary Policy Under Sticky Prices," Departmental Working Papers 200105, Rutgers University, Department of Economics.
    19. Mankiw, N. Gregory & Reis, Ricardo, 2002. "What measure of inflation should a central bank target?," Working Paper Series 170, European Central Bank.
    20. Silvia Sgherri & Tamim Bayoumi, 2004. "Monetary Magic? How the Fed Improved the Supply Side of the Economy," Econometric Society 2004 Far Eastern Meetings 422, Econometric Society.
    21. Pierre Fortin, 2003. "Issues and Commentaries Issues et commentaires Keynes Resurrected," Canadian Public Policy, University of Toronto Press, vol. 29(2), pages 253-265, June.
    22. Wayne Robinson, 2004. "Real Shocks, Credibility & Stabilization Policy in a Small Open Economy," Money Affairs, CEMLA, vol. 0(1), pages 39-55, January-J.
    23. Florian PELGRIN & Alain GUAY & Richard LUGER, 2004. "The New Keynesian Phillips Curve: An empirical assessment," Econometric Society 2004 North American Summer Meetings 418, Econometric Society.
    24. Richard Mash, 2002. "New Keynesian Microfundations Revisited: A Generalised Calvo-Taylor Model and the Desirability of Inflation vs. Price Level Targeting," Economics Series Working Papers 109, University of Oxford, Department of Economics.
    25. Gauti Eggertsson & Vaishali Garga, 2018. "Sticky Prices versus Sticky Information: Does It Matter For Policy Paradoxes?," 2018 Meeting Papers 577, Society for Economic Dynamics.
    26. Gonzalo Llosa & Shirley Miller, 2005. "Using additional information in estimating the output gap in Peru: a multivariate unobserved component approach," Working Papers 2005-004, Banco Central de Reserva del Perú.
    27. Benjamin Beckers & Konstantin A. Kholodilin & Dirk Ulbricht, 2017. "Reading between the Lines: Using Media to Improve German Inflation Forecasts," Discussion Papers of DIW Berlin 1665, DIW Berlin, German Institute for Economic Research.
    28. Frederic S. Mishkin, 2007. "Will monetary policy become more of a science?," Finance and Economics Discussion Series 2007-44, Board of Governors of the Federal Reserve System (U.S.).
    29. Ikeda, Taro, 2014. "Asymmetric preferences in real-time learning and the Taylor rule," Economics Letters, Elsevier, vol. 124(3), pages 487-489.
    30. David Demery & Nigel Duck, 2002. "Optimally Rational Expectations and Macroeconomics," Bristol Economics Discussion Papers 02/533, School of Economics, University of Bristol, UK.
    31. José Francisco Bellod Redondo, 2007. "La Curva De Phillips Y La Crítica De Friedman," Contribuciones a la Economía, Servicios Académicos Intercontinentales SL, issue 2007-12, December.
    32. John C. Driscoll & Steinar Holden, 2003. "Inflation persistence and relative contracting," Finance and Economics Discussion Series 2003-29, Board of Governors of the Federal Reserve System (U.S.).
    33. Pierre Fortin, 2003. "Keynes resurrected," Cahiers de recherche du Département des sciences économiques, UQAM 20-21, Université du Québec à Montréal, Département des sciences économiques.
    34. Laurence Ball & N. Gregory Mankiw, 2002. "The NAIRU in Theory and Practice," NBER Working Papers 8940, National Bureau of Economic Research, Inc.
    35. Logan Rangasamy, 2009. "Inflation Persistence And Core Inflation: The Case Of South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 77(3), pages 430-444, September.
    36. Mark Zbaracki & Mark Bergen & Shantanu Dutta & Daniel Levy & Mark Ritson, 2005. "Beyond the Cost of Price Adjustment: Investments in Pricing Capital," Macroeconomics 0505013, University Library of Munich, Germany.
    37. Bayoumi, Tamim & Sgherri, Silvia, 2004. "Deconstructing the Art of Central Banking," CEPR Discussion Papers 4675, Centre for Economic Policy Research.
    38. Gabriele Galati & Peter Heemeijer & Richhild Moessner, 2011. "How do inflation expectations form? New insights from a high-frequency survey," BIS Working Papers 349, Bank for International Settlements.
    39. McAdam, Peter & Willman, Alpo, 2003. "New Keynesian Phillips Curves: a reassessment using euro-area data," Working Paper Series 265, European Central Bank.
    40. 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.
    41. Paul Frijters & John P. Haisken-DeNew & Michael Shields, 2003. "How Well Do Individuals Predict Their Future Life Satisfaction? Rationality and Learning Following a Nationwide Exogenous Shock," CEPR Discussion Papers 468, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    42. Colombo, Luca & Weinrich, Gerd, 2003. "The Phillips curve as a long-run phenomenon in a macroeconomic model with complex dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 28(1), pages 1-26, October.
    43. Athanasios Orphanides & John C. Williams, 2002. "Imperfect knowledge, inflation expectations, and monetary policy," Finance and Economics Discussion Series 2002-27, Board of Governors of the Federal Reserve System (U.S.).
    44. Agenor, Pierre-Richard & Bayraktar, Nihal, 2003. "Contracting models of the Phillips curve - empirical estimates for Middle-income countries," Policy Research Working Paper Series 3139, The World Bank.
    45. Thesmar, David & Landier, Augustin & Ma, Yueran, 2017. "New Experimental Evidence on Expectations Formation," CEPR Discussion Papers 12527, Centre for Economic Policy Research.
    46. Arendt, Łukasz, 2005. "Próba oszacowania NAIRU dla Polski," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2005(5-6), June.
    47. Julio J. Rotemberg, 2002. "Customer Anger at Price Increases, Time Variation in the Frequency of Price Changes and Monetary Policy," NBER Working Papers 9320, National Bureau of Economic Research, Inc.
    48. John B. Taylor, 2016. "The Staying Power of Staggered Wage and Price Setting Models in Macroeconomics," NBER Working Papers 22356, National Bureau of Economic Research, Inc.
    49. Martha López P., 2004. "Efficient Policy Rule for Inflation Targeting in Colombia," Money Affairs, CEMLA, vol. 0(1), pages 1-24, January-J.
    50. Lei, Chengyao & Lu, Zhe & Zhang, Chengsi, 2015. "News on inflation and the epidemiology of inflation expectations in China," Economic Systems, Elsevier, vol. 39(4), pages 644-653.
    51. Chadha, J.S. & Charles Nolan, 2002. "Output, Inflation and the New Keynesian Phillips Curve," Cambridge Working Papers in Economics 0204, Faculty of Economics, University of Cambridge.
    52. Karlygash Kuralbayeva, 2007. "Inflation persistence: Implications for a design of monetary policy in a small open economy subject to external shocks," CEIS Research Paper 93, Tor Vergata University, CEIS.
    53. Víctor López Pérez, 2003. "Wage Indexation and Inflation Persistence," Working Papers wp2003_0303, CEMFI.
    54. W A Razzak, 2002. "Monetary policy and forecasting inflation with and without the output gap," Reserve Bank of New Zealand Discussion Paper Series DP2002/03, Reserve Bank of New Zealand.
    55. Łukasz Arendt, 2005. "Próba oszacowania NAIRU dla Polski," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 1-23.
    56. Laurence Ball & Dean Croushore, 2001. "Expectations and the effects of monetary policy," Working Papers 01-12, Federal Reserve Bank of Philadelphia.
    57. Várpalotai, Viktor, 2003. "Dezinflációs számítások dezaggregált kibocsátási résekre alapozó makromodellel [Disinflation simulations with a disaggregated output gap-based model]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 287-314.
    58. Alvin Ó Murchú, 2002. "Tax policy and OECD unemployment," Working Papers 200231, School of Economics, University College Dublin.
    59. Peter Tinsley & Sharon Kozicki, 2003. "Alternative Sources of the Lag Dynamics of Inflation," Computing in Economics and Finance 2003 92, Society for Computational Economics.
    60. Andrew T. Levin & Jeremy M. Piger, 2003. "Is inflation persistence intrinsic in industrial economies?," Working Papers 2002-023, Federal Reserve Bank of St. Louis.
    61. Adriana Arreaza & Enid Blanco & Miguel Dorta, 2004. "A Small Scale Macroeconomic Model for Venezuela," Money Affairs, CEMLA, vol. 0(1), pages 25-38, January-J.
    62. Katsuyuki Shibayama, 2007. "A Solution Method for Linear Rational Expectation Models under Imperfect Information," Studies in Economics 0703, School of Economics, University of Kent.
    63. Monique Reid & Gideon Rand, 2015. "A Sticky Information Phillips Curve for South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 83(4), pages 506-526, December.
    64. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Taylor rules in a model that satisfies the natural rate hypothesis," Working Papers (Old Series) 0116, Federal Reserve Bank of Cleveland.
    65. Fritsche, Ulrich, 2006. "Ergebnisse der ökonometrischen Untersuchung zum Forschungsprojekt Wirtschaftspolitische Regime westlicher Industrienationen," Working Papers 24, Berlin School of Economics and Law, Institute of Management Berlin (IMB).
    66. Holden,S. & Driscoll,J.C., 2001. "A note on inflation persistence," Memorandum 09/2001, Oslo University, Department of Economics.
    67. Dixon, Huw David & Kara, Engin, 2008. "Can we explain inflation persistence in a way that is consistent with the micro-evidence on nominal rigidity?," Cardiff Economics Working Papers E2008/22, Cardiff University, Cardiff Business School, Economics Section.
    68. 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.
    69. Yash P. Mehra, 2004. "Predicting the recent behavior of inflation using output gap-based Phillips curves," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 90(Sum), pages 65-88.
    70. Luca Bindelli, 2005. "Testing the New Keynesian Phillips curve: a frequency domain approach," Money Macro and Finance (MMF) Research Group Conference 2005 69, Money Macro and Finance Research Group.
    71. Peter McAdam & Alpo Willman, 2004. "Supply, Factor Shares and Inflation Persistence: Re‐examining Euro‐area New‐Keynesian Phillips Curves," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(s1), pages 637-670, September.
    72. Alejandro Rodríguez Arana, 2019. "Limited Information and the Relation Between the Variance of Inflation and the Variance of Output in a New Keynesian," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 14(PNEA), pages 541-557, Agosto 20.
    73. Richard Mash, 2002. "Monetary Policy with an Endogenous Capital Stock when Inflation is Persistent," Economics Series Working Papers 108, University of Oxford, Department of Economics.
    74. George A. Akerlof, 2003. "Behavioral Macroeconomics and Macroeconomic Behavior," The American Economist, Sage Publications, vol. 47(1), pages 25-47, March.

Chapters

  1. Ricardo Reis, 2020. "Keynote speech - The anchoring of long-run inflation expectations today," BIS Papers chapters, in: Bank for International Settlements (ed.), Inflation dynamics in Asia and the Pacific, volume 111, pages 11-20, Bank for International Settlements.

    Cited by:

    1. Gáti, Laura, 2022. "Monetary policy & anchored expectations: an endogenous gain learning model," Working Paper Series 2685, European Central Bank.

  2. Ricardo Reis, 2020. "Comment on "Imperfect Expectations: Theory and Evidence"," NBER Chapters, in: NBER Macroeconomics Annual 2020, volume 35, pages 99-111, National Bureau of Economic Research, Inc.

    Cited by:

    1. Alistair Macaulay & James Moberly, 2022. "Heterogeneity in imperfect inflation expectations:theory and evidence from a novel survey," Economics Series Working Papers 970, University of Oxford, Department of Economics.

  3. Ricardo Reis, 2019. "Central Banks Going Long," Central Banking, Analysis, and Economic Policies Book Series, in: Álvaro Aguirre & Markus Brunnermeier & Diego Saravia (ed.),Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, edition 1, volume 26, chapter 3, pages 043-081, Central Bank of Chile.
    See citations under working paper version above.
  4. Mankiw, N. Gregory & Reis, Ricardo, 2010. "Imperfect Information and Aggregate Supply," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 5, pages 183-229, Elsevier.
    See citations under working paper version above.
  5. Ricardo Reis, 2009. "A Sticky-information General Equilibrium Model por Policy Analysis," Central Banking, Analysis, and Economic Policies Book Series, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.),Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 8, pages 227-283, Central Bank of Chile.
    See citations under working paper version above.
  6. N. Gregory Mankiw & Ricardo Reis & Justin Wolfers, 2004. "Disagreement about Inflation Expectations," NBER Chapters, in: NBER Macroeconomics Annual 2003, Volume 18, pages 209-270, National Bureau of Economic Research, Inc.
    See citations under working paper version above.

Books

    Sorry, no citations of books recorded.
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