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Alexander L. Wolman

Citations

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Robert G. King & Alexander L. Wolman, 1996. "Inflation targeting in a St. Louis model of the 21st century," Proceedings, Federal Reserve Bank of St. Louis, vol. 78(May), pages 83-107.

    Mentioned in:

    1. Michael Woodford: Revolución y Evolución en la Macroeconomía del siglo XX
      by Enrique Bour in Foco Económico on 2011-03-16 17:00:00
  2. Willem Van Zandweghe & Alexander L. Wolman, 2010. "Discretionary monetary policy in the Calvo model," Research Working Paper RWP 10-06, Federal Reserve Bank of Kansas City.

    Mentioned in:

    1. Doing Calvo all wrong
      by Economic Logician in Economic Logic on 2010-04-30 19:42:00

Working papers

  1. Francisco J. Ruge-Murcia & Alexander L. Wolman, 2022. "Relative Price Shocks and Inflation," Working Paper 22-07, Federal Reserve Bank of Richmond.

    Cited by:

    1. Francesco Ferrante & Sebastian Graves & Matteo Iacoviello, 2023. "The Inflationary Effects of Sectoral Reallocation," International Finance Discussion Papers 1369, Board of Governors of the Federal Reserve System (U.S.).
    2. Afrouzi, Hassan & Bhattarai, Saroj & Wu, Edson, 2024. "Relative-price changes as aggregate supply shocks revisited: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 148(S).

  2. Michael Dotsey & Alexander L. Wolman, 2019. "Investigating Nonneutrality in a State-Dependent Pricing Model with Firm-Level Productivity Shocks," Working Papers 19-9, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Fernando Alvarez & Andrea Ferrara & Erwan Gautier & Hervé Le Bihan & Francesco Lippi, 2021. "Empirical Investigation of a Sufficient Statistic for Monetary Shocks," Working papers 839, Banque de France.
    2. Alberto Cavallo & Francesco Lippi & Ken Miyahara, 2024. "Large shocks travel fast," Working Papers 198, Peruvian Economic Association.
    3. Fernando E. Alvarez & Francesco Lippi & Aleksei Oskolkov, 2020. "The Macroeconomics of Sticky Prices with Generalized Hazard Functions," NBER Working Papers 27434, National Bureau of Economic Research, Inc.
    4. Kevin XD Huang & Nam T Vu, 2019. "Rare but Long-lasting Liquidity Traps and Fiscal Stimulus," Vanderbilt University Department of Economics Working Papers 19-00014, Vanderbilt University Department of Economics.
    5. Carvalho, Carlos & Kryvtsov, Oleksiy, 2021. "Price selection," Journal of Monetary Economics, Elsevier, vol. 122(C), pages 56-75.

  3. Tim Hursey & Alexander Wolman & Andreas Hornstein, 2014. "Monetary Policy and Global Equilibria in an Economy with Capital," 2014 Meeting Papers 733, Society for Economic Dynamics.

    Cited by:

    1. Fernando M. Duarte & Anna Zabai, 2015. "An interest rate rule to uniquely implement the optimal equilibrium in a liquidity trap," Staff Reports 745, Federal Reserve Bank of New York.

  4. Zhu Wang & Alexander L. Wolman, 2014. "Payment Choice and the Future of Currency: Insights from Two Billion Retail Transactions," Working Paper 14-9, Federal Reserve Bank of Richmond.

    Cited by:

    1. Janet Hua Jiang & Enchuan Shao, 2014. "Understanding the Cash Demand Puzzle," Staff Working Papers 14-22, Bank of Canada.
    2. Schmidt, Tobias & Stix, Helmut & Huynh, Kim P. & Kosse, Anneke & Schuh, Scott & Bagnall, John & Bounie, David, 2014. "Consumer cash usage: a cross-country comparison with payment diary survey data," Working Paper Series 1685, European Central Bank.
    3. David Hao Zhang, 2016. "How do people pay rent?," Research Data Report 16-2, Federal Reserve Bank of Boston.
    4. Stavins, Joanna, 2018. "Consumer preferences for payment methods: Role of discounts and surcharges," Journal of Banking & Finance, Elsevier, vol. 94(C), pages 35-53.
    5. Kenneth Rogoff, 2014. "Costs and Benefits to Phasing out Paper Currency," NBER Chapters, in: NBER Macroeconomics Annual 2014, Volume 29, pages 445-456, National Bureau of Economic Research, Inc.
    6. Claire Greene & Scott Schuh, 2014. "U.S. consumers' holdings and use of $100 bills," Research Data Report 14-3, Federal Reserve Bank of Boston.
    7. Eden Hatzvi & Jessica Meredith & Rose Kenney, 2014. "Cash Use in Australia," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 43-54, June.
    8. Randall Wright, 2014. "Marriage, Markets and Money: A Coasian Theory of Household Formation," 2014 Meeting Papers 237, Society for Economic Dynamics.

  5. Michael Dotsey & Robert G. King & Alexander L. Wolman, 2013. "Inflation and real activity with firm-level productivity shocks," Working Papers 13-35, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Andrea Stella, 2014. "The Magnitude of Menu Costs: A Structural Estimation," 2014 Meeting Papers 436, Society for Economic Dynamics.
    2. Utku Özmen, Mustafa & Akçelik, Fatih, 2017. "Asymmetric exchange rate and oil price pass-through in motor fuel market: A microeconometric approach," The Journal of Economic Asymmetries, Elsevier, vol. 15(C), pages 64-75.
    3. Costain, James & Nakov, Anton & Petit, Borja, 2019. "Monetary policy implications of state-dependent prices and wages," Working Paper Series 2272, European Central Bank.
    4. Costain, James & Nakov, Anton, 2015. "Precautionary price stickiness," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 218-234.
    5. Ahrens, Steffen & Pirschel, Inske & Snower, Dennis J., 2014. "A theory of price adjustment under loss aversion," SFB 649 Discussion Papers 2014-065, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    6. Gee Hee Hong & Ernesto Pasten & Matthew Klepacz & Raphael Schoenle, 2019. "From Micro to Macro: A New Methodology to Discriminate Among Models," 2019 Meeting Papers 906, Society for Economic Dynamics.
    7. Ahrens, Steffen & Hartmann, Matthias, 2014. "State-dependence vs. timedependence: An empirical multi-country investigation of price sluggishness," Kiel Working Papers 1907, Kiel Institute for the World Economy.
    8. Reiter, Michael & Sveen, Tommy & Weinke, Lutz, 2013. "Lumpy investment and the monetary transmission mechanism," Journal of Monetary Economics, Elsevier, vol. 60(7), pages 821-834.
    9. Gee Hee Hong & Matthew Klepacz & Ernesto Pasten & Raphael Schoenle, 2020. "The Real Effects of Monetary Shocks: Evidence from Micro Pricing Moments," Working Papers Central Bank of Chile 875, Central Bank of Chile.
    10. Michael K. Johnston, 2009. "Real and Nominal Frictions within the Firm: How Lumpy Investment Matters for Price Adjustment," Staff Working Papers 09-36, Bank of Canada.
    11. Franz Ruch & Neil Rankin & Stan du Plessis, 2016. "Decomposing inflation using micropricelevel data South Africas pricing dynamics," Working Papers 7353, South African Reserve Bank.
    12. 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.
    13. Aubhik Khan & Julia Thomas, 2015. "Revisiting the Tale of Two Interest Rates with Endogenous Market Segmentation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(2), pages 243-268, April.

  6. Huberto M. Ennis & Alexander L. Wolman, 2012. "Large excess reserves in the U.S.: a view from the cross-section of banks," Working Paper 12-05, Federal Reserve Bank of Richmond.

    Cited by:

    1. Beladi, Hamid & Hu, May & Park, Jason & How, Janice, 2020. "Liquidity creation and funding ability during the interbank lending crunch," International Review of Financial Analysis, Elsevier, vol. 67(C).
    2. Keyra Primus, 2013. "'Excess Reserves, Monetary Policy and Financial Volatility," Centre for Growth and Business Cycle Research Discussion Paper Series 183, Economics, The University of Manchester.
    3. Jose M. Berrospide, 2013. "Bank liquidity hoarding and the financial crisis: an empirical evaluation," Finance and Economics Discussion Series 2013-03, Board of Governors of the Federal Reserve System (U.S.).
    4. Thomas J. Carter, 2017. "Optimal Interbank Regulation," Staff Working Papers 17-48, Bank of Canada.

  7. Willem Van Zandweghe & Alexander L. Wolman, 2010. "Discretionary monetary policy in the Calvo model," Research Working Paper RWP 10-06, Federal Reserve Bank of Kansas City.

    Cited by:

    1. Campbell Leith & Ding Liu, 2014. "The inflation bias under Calvo and Rotemberg pricing," Working Papers 2014_06, Business School - Economics, University of Glasgow.
    2. Eric M Leeper & Campbell Leith & Ding Liu, 2016. "Optimal Time-Consistent Monetary, Fiscal and Debt Maturity Policy," Working Papers 2016_04, Business School - Economics, University of Glasgow.
    3. Lu, Yang K. & King, Robert G. & Pasten, Ernesto, 2016. "Optimal reputation building in the New Keynesian model," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 233-249.
    4. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    5. Taisuke Nakata, 2012. "Optimal Fiscal and Monetary Policy with Occasionally Binding Zero Bound Constraints," 2012 Meeting Papers 181, Society for Economic Dynamics.
    6. Bilbiie, Florin O., 2014. "Delegating optimal monetary policy inertia," Journal of Economic Dynamics and Control, Elsevier, vol. 48(C), pages 63-78.
    7. Ngo, Phuong V., 2014. "Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate," Journal of Economic Dynamics and Control, Elsevier, vol. 45(C), pages 44-65.
    8. Sunakawa, Takeki, 2015. "A quantitative analysis of optimal sustainable monetary policies," Journal of Economic Dynamics and Control, Elsevier, vol. 52(C), pages 119-135.
    9. Gary S. Anderson & Jinill Kim & Tack Yun, 2010. "Using a projection method to analyze inflation bias in a micro-founded model," Finance and Economics Discussion Series 2010-18, Board of Governors of the Federal Reserve System (U.S.).

  8. Alexander L. Wolman, 2009. "The optimal rate of inflation with trending relative prices," Working Paper 09-02, Federal Reserve Bank of Richmond.

    Cited by:

    1. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy.
    2. Skaperdas, Arsenios, 2025. "Industry growth at the lower bound," Journal of International Money and Finance, Elsevier, vol. 152(C).
    3. Adam, Klaus & Weber, Henning, 2020. "Estimating the optimal inflation target from trends in relative prices," Working Paper Series 2370, European Central Bank.
    4. Rocha Lima, Elcyon Caiado & Martinez, Thiago Sevilhano & Cerqueira, Vinícius Santos, 2018. "Monetary Policy and Exchange Rate: Effects on Disaggregated Prices in a FAVAR Model for Brazil," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 38(1), May.
    5. Richiardi, Matteo & Valenzuela, Luis, 2019. "Firm Heterogeneity and the Aggregate Labour Share," INET Oxford Working Papers 2019-08, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    6. Choi, Chi-Young & Choi, Horag, 2016. "The role of two frictions in geographic price dispersion: When market friction meets nominal rigidity," Journal of International Money and Finance, Elsevier, vol. 63(C), pages 1-27.
    7. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    8. Horn, Aidan J. & Martin, Lisa & Pretorius, Jan H. & Steenkamp, Daan, 2025. "Gaps in the South African Inflation Targeting Debate," MPRA Paper 124010, University Library of Munich, Germany.
    9. Mineyama, Tomohide, 2022. "Revisiting the optimal inflation rate with downward nominal wage rigidity: The role of heterogeneity," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    10. Takahashi, Shuhei, 2021. "The uniqueness of steady-state equilibrium under state-dependent pricing: The case of deflation," Economics Letters, Elsevier, vol. 209(C).
    11. Claudio Borio, 2021. "Back to the Future: Intellectual Challenges for Monetary Policy," Economic Papers, The Economic Society of Australia, vol. 40(4), pages 273-287, December.
    12. Alexander L. Wolman, 2015. "Relative Price Changes and the Optimal Inflation Rate," Economic Quarterly, Federal Reserve Bank of Richmond, issue 3Q, pages 245-274.
    13. Robert Amano & Kevin Moran & Stephen Murchison & Andrew Rennison, 2007. "Trend Inflation, Wage and Price Rigidities, and Welfare," Cahiers de recherche 0720, CIRPEE.
    14. Luis Uzeda, 2025. "Pulse check: Measuring underlying inflation and its drivers," Staff Analytical Notes 2025-29, Bank of Canada.
    15. Claudio Borio & Piti Disyatat & Dora Xia & Egon Zakrajšek, 2021. "Monetary policy, relative prices and inflation control: flexibility born out of success," BIS Quarterly Review, Bank for International Settlements, September.
    16. Ikeda, Daisuke, 2015. "Optimal inflation rates with the trending relative price of investment," Journal of Economic Dynamics and Control, Elsevier, vol. 56(C), pages 20-33.
    17. Gerberding, Christina & Gerke, Rafael & Hammermann, Felix, 2010. "Price-level targeting when there is price-level drift," Discussion Paper Series 1: Economic Studies 2010,23, Deutsche Bundesbank.
    18. Shu‐Hua Chen, 2018. "The Credit‐Channel Transmission Mechanism And The Nonlinear Growth And Welfare Effects Of Inflation And Taxes," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 724-744, April.
    19. Weber, Henning, 2012. "The optimal inflation rate and firm-level productivity growth," Kiel Working Papers 1773, Kiel Institute for the World Economy.
    20. Weber, Henning, 2015. "Innovation and the Optimal Rate of Inflation," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113087, Verein für Socialpolitik / German Economic Association.
    21. Joshua Brault & Hashmat Khan & Louis Phaneuf & Jean Gardy Victor, 2021. "US Postwar Macroeconomic Fluctuations Without Indeterminacy," Carleton Economic Papers 21-01, Carleton University, Department of Economics, revised 25 May 2021.
    22. Kamber, Güneş & Wong, Benjamin, 2020. "Global factors and trend inflation," Journal of International Economics, Elsevier, vol. 122(C).
    23. Gerberding, Christina & Gerke, Rafael & Hammermann, Felix, 2012. "Price-level targeting when there is price-level drift," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 757-768.
    24. Kurozumi, Takushi & Van Zandweghe, Willem, 2024. "Output-inflation trade-offs and the optimal inflation rate," Journal of Economic Dynamics and Control, Elsevier, vol. 164(C).
    25. Adam, Klaus & Weber, Henning, 2024. "The optimal inflation target: Bridging the gap between theory and policy," Discussion Papers 44/2024, Deutsche Bundesbank.
    26. Schmitt-Grohé, Stephanie & Uribe, Martín, 2012. "On quality bias and inflation targets," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 393-400.
    27. Weber, Henning, 2012. "One for all: The ECB's inflation target," Kiel Policy Briefs 54, Kiel Institute for the World Economy.

  9. King, Robert G. & Wolman, Alexander L., 2004. "Monetary discretion, pricing complementarity and dynamic multiple equilibria," Working Paper Series 343, European Central Bank.

    Cited by:

    1. Bruno Chiarini & Simona Monteleone, 2011. "Discretionary policy, strategic complementarity and tax evasion. A strategic analysis of the Italian audit mechanism," Discussion Papers 4_2011, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    2. Roc Armenter & Martin Bodenstein, 2005. "Does the time inconsistency problem make flexible exchange rates look worse than you think?," Staff Reports 230, Federal Reserve Bank of New York.
    3. Jorge Soares, Marina Azzimonti, Pierre-Daniel Sarte & Pierre-Daniel Sarte & Jorge Soares, 2006. "Distortionary Taxes and Public Investment When Government Promises Are Not Enforceable," Working Papers 06-07, University of Delaware, Department of Economics.
    4. Olivier Loisel, 2016. "The Implementation of Stabilization Policy," 2016 Meeting Papers 16, Society for Economic Dynamics.
    5. Henry E. Siu, 2007. "Time consistent monetary policy with endogenous price rigidity," Staff Report 390, Federal Reserve Bank of Minneapolis.
    6. Jeffrey R. Campbell & Jacob P. Weber, 2018. "Discretion Rather than Rules: Equilibrium Uniqueness and Forward Guidance with Inconsistent Optimal Plans," Working Paper Series WP-2018-14, Federal Reserve Bank of Chicago.
    7. Roc Armenter & Martin Bodenstein, 2006. "Can the U.S. monetary policy fall (again) in an expectation trap?," International Finance Discussion Papers 860, Board of Governors of the Federal Reserve System (U.S.).
    8. Adam, Klaus & Billi, Roberto M., 2007. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.
    9. Ray C. Fair, 2006. "Evaluating Inflation Targeting Using a Macroeconometric Model," Levine's Bibliography 321307000000000303, UCLA Department of Economics.
    10. Stefan Niemann & Paul Pichler & Gerhard Sorger, 2013. "Central Bank Independence And The Monetary Instrument Problem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 1031-1055, August.
    11. Huberto M. Ennis & Todd Keister, 2007. "Commitment and equilibrium bank runs," Staff Reports 274, Federal Reserve Bank of New York.
    12. Ennis, Huberto M. & Keister, Todd, 2010. "Banking panics and policy responses," Journal of Monetary Economics, Elsevier, vol. 57(4), pages 404-419, May.
    13. Bai, Yuting & Kirsanova, Tatiana, 2013. "Infrequent Fiscal Stabilization," SIRE Discussion Papers 2013-17, Scottish Institute for Research in Economics (SIRE).
    14. Valentina Hartarska & Claudio Gonzalez-Vega, 2005. "Credit Counseling and Mortgage Termination by Low-Income Households," The Journal of Real Estate Finance and Economics, Springer, vol. 30(3), pages 227-243, April.
    15. Roc Armenter, 2008. "A General Theory (and Some Evidence) of Expectation Traps in Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 867-895, August.
    16. 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.
    17. Taisuke Nakata, 2012. "Optimal Fiscal and Monetary Policy with Occasionally Binding Zero Bound Constraints," 2012 Meeting Papers 181, Society for Economic Dynamics.
    18. Roc Armenter, 2013. "The perils of nominal targets," Working Papers 14-2, Federal Reserve Bank of Philadelphia.
    19. Roberto Quercia & Jonathan Spader, 2008. "Does homeownership counseling affect the prepayment and default behavior of affordable mortgage borrowers?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 27(2), pages 304-325.
    20. Michael T. Kiley, 2004. "Is moderate-to-high inflation inherently unstable?," Finance and Economics Discussion Series 2004-43, Board of Governors of the Federal Reserve System (U.S.).
    21. Michael Dotsey & Andreas Hornstein, 2011. "On the implementation of Markov-perfect monetary policy," Working Papers 11-29, Federal Reserve Bank of Philadelphia.
    22. Richard Dennis & Tatiana Kirsanova, 2010. "Expectations traps and coordination failures: selecting among multiple discretionary equilibria," Working Paper Series 2010-02, Federal Reserve Bank of San Francisco.
    23. John, A.Andrew & Wolman, Alexander L., 2008. "Steady-state equilibrium with state-dependent pricing," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 383-405, March.
    24. Christoph Himmels & Tatiana Kirsanova, 2012. "Escaping Expectation Traps: How Much Commitment is Required?," Economics Discussion Paper Series 1220, Economics, The University of Manchester.
    25. Rhee, Hyuk Jae & Turdaliev, Nurlan, 2013. "Central bank transparency: Does it matter?," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 183-197.
    26. Blake, Andrew P. & Kirsanova, Tatiana, 2006. "Discretionary Policy and Multiple Equilibria in LQ RE Models," MPRA Paper 21901, University Library of Munich, Germany, revised 01 Apr 2010.
    27. David M. Arseneau, 2004. "Expectation traps in a New Keynesian open economy model," Finance and Economics Discussion Series 2004-45, Board of Governors of the Federal Reserve System (U.S.).
    28. Eric Swanson & Gauti Eggertsson, 2007. "Optimal Time-Consistent Monetary Policy in the New Keynesian Model with Repeated Simultaneous Play," 2007 Meeting Papers 214, Society for Economic Dynamics.
    29. Huberto M. Ennis & Todd Keister, 2007. "Bank runs and institutions : the perils of intervention," Working Paper 07-02, Federal Reserve Bank of Richmond.
    30. Robert G. King, 2006. "Discretionary policy and multiple equilibria," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 92(Win), pages 1-15.
    31. J. Collins, 2007. "Exploring the Design of Financial Counseling for Mortgage Borrowers in Default," Journal of Family and Economic Issues, Springer, vol. 28(2), pages 207-226, June.
    32. Christian Baker & Richard W. Evans, 2013. "Optimal State-dependent Monetary Policy Rules," BYU Macroeconomics and Computational Laboratory Working Paper Series 2013-04, Brigham Young University, Department of Economics, BYU Macroeconomics and Computational Laboratory.
    33. Benigno, Gianluca & Fornaro, Luca, 2017. "Stagnation traps," Working Paper Series 2038, European Central Bank.
    34. Andrew P. Blake & Tatiana Kirsanova & Tony Yates, 2013. "Monetary policy delegation and equilibrium coordination," Working Papers 2013_09, Business School - Economics, University of Glasgow.
    35. Roc Armenter, 2014. "The Perils of Nominal Targets," 2014 Meeting Papers 428, Society for Economic Dynamics.
    36. Gauti B. Eggertsson, 2005. "Optimal monetary and fiscal policy under discretion in the New Keynesian model: a technical appendix to \\"Great Expectations and the End of the Depression\\"," Staff Reports 235, Federal Reserve Bank of New York.
    37. Kelly D. Edmiston & Mary Gillett Fisher, 2006. "Financial education at the workplace: evidence from a survey of Federal Reserve Bank employees," Community Affairs Research Working Paper 2006-02, Federal Reserve Bank of Kansas City.
    38. Andreas Schabert, 2005. "Discretionary Policy, Multiple Equilibria, and Monetary Instruments," Tinbergen Institute Discussion Papers 05-098/2, Tinbergen Institute.
    39. Gaspar, Vitor & Levin, Andrew & Smets, Frank & Martins, Fernando Manuel, 2007. "Evidence from Surveys of Price-Setting Managers: Policy Lessons and Directions for Ongoing Research," CEPR Discussion Papers 6227, C.E.P.R. Discussion Papers.
    40. Gauti B. Eggertsson, 2013. "Fiscal Multipliers and Policy Coordination," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Jordi Galí (ed.),Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 6, pages 175-234, Central Bank of Chile.
    41. Huang, Kevin X.D. & Meng, Qinglai, 2007. "Capital and macroeconomic instability in a discrete-time model with forward-looking interest rate rules," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2802-2826, August.
    42. Christoph Himmels & Tatiana Kirsanova, 2012. "The interest rate - exchange rate nexus: exchange rate regimes and policy equilibria," Economics Discussion Paper Series 1219, Economics, The University of Manchester.
    43. Michel Juillard & Florian Pelgrin, 2007. "Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy," Staff Working Papers 07-32, Bank of Canada.
    44. Willem Van Zandweghe & Alexander L. Wolman, 2011. "Discretionary monetary policy in the Calvo model," Working Paper 11-03, Federal Reserve Bank of Richmond.
    45. David Miles, 2014. "Monetary Policy and Forward Guidance in the UK," Manchester School, University of Manchester, vol. 82(S1), pages 44-59, September.
    46. Gary S. Anderson & Jinill Kim & Tack Yun, 2010. "Using a projection method to analyze inflation bias in a micro-founded model," Finance and Economics Discussion Series 2010-18, Board of Governors of the Federal Reserve System (U.S.).
    47. Posch, Olaf & Wälde, Klaus, 2005. "Natural volatility, welfare and taxation," W.E.P. - Würzburg Economic Papers 57, University of Würzburg, Department of Economics.
    48. Himmels, Christoph & Kirsanova, Tatiana, 2018. "Discretionary policy in a small open economy: Exchange rate regimes and multiple equilibria," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 53-64.
    49. Dudley Cooke, 2010. "Openness and Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(2‐3), pages 267-287, March.
    50. Ortigueira, Salvador & Pereira, Joana & Pichler, Paul, 2012. "Markov-perfect optimal fiscal policy : the case of unbalanced budgets," UC3M Working papers. Economics we1230, Universidad Carlos III de Madrid. Departamento de Economía.
    51. Salvador Ortigueira & Joana Pereira, 2016. "Lack of Commitment, Retroactive Tax Changes, and Macroeconomic Instability," Working Papers WP2016-05, University of Miami, Department of Economics.
    52. Sosunov, Kirill & Khramov, Vadim, 2008. "Monetary policy rules and indterminacy," MPRA Paper 11996, University Library of Munich, Germany.
    53. Himmels, Christoph & Kirsanova, Tatiana, 2011. "Expectations Traps and Monetary Policy with Limited Commitment," MPRA Paper 29208, University Library of Munich, Germany.
    54. Michael Dotsey & Andreas Hornstein, 2008. "On the implementation of Markov-perfect interest rate and money supply rules: global and local uniqueness," Working Papers 08-30, Federal Reserve Bank of Philadelphia.
    55. Hartarska, Valentina & Gonzalez-Vega, Claudio, 2006. "Evidence on the effect of credit counseling on mortgage loan default by low-income households," Journal of Housing Economics, Elsevier, vol. 15(1), pages 63-79, March.
    56. Kevin XD Huang & Nam T Vu, 2019. "Rare but Long-lasting Liquidity Traps and Fiscal Stimulus," Vanderbilt University Department of Economics Working Papers 19-00014, Vanderbilt University Department of Economics.
    57. Evans, Richard W., 2012. "Is openness inflationary? Policy commitment and imperfect competition," Journal of Macroeconomics, Elsevier, vol. 34(4), pages 1095-1110.
    58. Ali Hussein Samadi & Afshin Montakhab & Hussein Marzban & Sakine Owjimehr, 2017. "Quantum Barro--Gordon Game in Monetary Economics," Papers 1708.05689, arXiv.org.
    59. van Wijnbergen, Sweder & Schabert, Andreas, 2006. "Debt, Deficits and Destabilizing Monetary Policy in Open Economies," CEPR Discussion Papers 5590, C.E.P.R. Discussion Papers.
    60. Dudley Cooke, 2004. "Openness and Inflation," Money Macro and Finance (MMF) Research Group Conference 2004 99, Money Macro and Finance Research Group.
    61. Cooke, Dudley, 2006. "Openness and Inflation," Economics Discussion Papers 8907, University of Essex, Department of Economics.
    62. Borys Grochulski, 2011. "Financial firm resolution policy as a time-consistency problem," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 97(2Q), pages 133-152.
    63. Volker Hahn, 2014. "Discretionary Policy and Multiple Equilibria in a New Keynesian Model," Working Paper Series of the Department of Economics, University of Konstanz 2014-14, Department of Economics, University of Konstanz.
    64. Tyran, Jean-Robert & Goette, Lorenz & Minsch, Rudolf, 2005. "Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much," CEPR Discussion Papers 5364, C.E.P.R. Discussion Papers.
    65. Samadi, Ali Hussein & Montakhab, Afshin & Marzban, Hussein & Owjimehr, Sakine, 2018. "Quantum Barro–Gordon game in monetary economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 489(C), pages 94-101.
    66. Michael Dotsey & Andreas Hornstein, 2007. "Interest rate versus money supply instruments: on the implementation of Markov-perfect optimal monetary policy," Working Papers 07-27, Federal Reserve Bank of Philadelphia.
    67. Dumitriu, Ramona & Stefanescu, Răzvan, 2013. "Decizii strategice ale politicii monetare [Strategic decisions of the Monetary Policy]," MPRA Paper 51242, University Library of Munich, Germany, revised 05 Nov 2013.
    68. Adam, Klaus & Billi, Roberto M., 2008. "Monetary conservatism and fiscal policy," Journal of Monetary Economics, Elsevier, vol. 55(8), pages 1376-1388, November.
    69. Demertzis Maria & Viegi Nicola, 2009. "Inflation Targeting: A Framework for Communication," The B.E. Journal of Macroeconomics, De Gruyter, vol. 9(1), pages 1-32, December.

  10. A. Andrew John & Alexander L. Wolman, 2004. "An inquiry into the existence and uniqueness of equilibrium with state-dependent pricing," Working Paper 04-04, Federal Reserve Bank of Richmond.

    Cited by:

    1. Emi Nakamura & Jón Steinsson, 2008. "Monetary Non-Neutrality in a Multi-Sector Menu Cost Model," NBER Working Papers 14001, National Bureau of Economic Research, Inc.
    2. Michael Dotsey & Robert G. King, 2005. "Implications of State Dependent-Pricing for Dynamic Macroeconomic Models," Boston University - Department of Economics - Macroeconomics Working Papers Series WP2005-002, Boston University - Department of Economics.
    3. John, A.Andrew & Wolman, Alexander L., 2008. "Steady-state equilibrium with state-dependent pricing," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 383-405, March.
    4. Takahashi, Shuhei, 2021. "The uniqueness of steady-state equilibrium under state-dependent pricing: The case of deflation," Economics Letters, Elsevier, vol. 209(C).
    5. Shuhei Takahashi, 2018. "Does State-Dependent Wage Setting Generate Multiple Equilibria?," KIER Working Papers 991, Kyoto University, Institute of Economic Research.
    6. Huang, Kevin X.D. & Meng, Qinglai, 2007. "Capital and macroeconomic instability in a discrete-time model with forward-looking interest rate rules," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2802-2826, August.
    7. Alex Ho, Wai-Yip & Yetman, James, 2008. "The long-run output-inflation trade-off with menu costs," The North American Journal of Economics and Finance, Elsevier, vol. 19(3), pages 261-273, December.

  11. Margarida Duarte & Alexander L. Wolman, 2003. "Fiscal policy and regional inflation in a currency union," Working Paper 03-11, Federal Reserve Bank of Richmond.

    Cited by:

    1. Mykhaylova Olena & Staveley-O’Carroll James, 2014. "International transmission of productivity shocks with nonzero net foreign debt," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 579-624, January.
    2. Camba-Méndez, Gonzalo & Garcí­a, Juan Angel & Rodriguez-Palenzuela, Diego, 2003. "Relevant economic issues concerning the optimal rate of inflation," Working Paper Series 278, European Central Bank.
    3. Neyer, Ulrike & Stempel, Daniel, 2025. "Household inflation heterogeneity and the relative price elasticity channel of monetary policy," Economic Modelling, Elsevier, vol. 144(C).
    4. Margarida Duarte, 2003. "The euro and inflation divergence in Europe," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 89(Sum), pages 53-70.
    5. Stempel, Daniel & Neyer, Ulrike, 2022. "Should Central Banks Consider Household Inflation Heterogeneity?," VfS Annual Conference 2022 (Basel): Big Data in Economics 264053, Verein für Socialpolitik / German Economic Association.
    6. Filippo Altissimo & Pierpaolo Benigno & Diego Palenzuela, 2011. "Inflation Differentials in a Currency Area: Facts, Explanations and Policy," Open Economies Review, Springer, vol. 22(2), pages 189-233, April.
    7. von Thadden, Leopold & Lipinska, Anna, 2013. "On the (In)effectiveness of Fiscal Devaluations in a Monetary Union," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 80038, Verein für Socialpolitik / German Economic Association.
    8. Leonor Coutinho & Mirko Licchetta, 2025. "Inflation Differentials in the Euro Area at the Time of High Energy Prices," Open Economies Review, Springer, vol. 36(5), pages 1463-1497, November.
    9. Evers, Michael P., 2015. "Fiscal federalism and monetary unions: A quantitative assessment," Journal of International Economics, Elsevier, vol. 97(1), pages 59-75.
    10. Meher Manzur, 2018. "Exchange rate economics is always and everywhere controversial," Applied Economics, Taylor & Francis Journals, vol. 50(3), pages 216-232, January.
    11. Mykhaylova, Olena, 2009. "Welfare implications of country size in a monetary union," MPRA Paper 23323, University Library of Munich, Germany.
    12. Daniel Stempel & Johannes Zahner, 2022. "DSGE Models and Machine Learning: An Application to Monetary Policy in the Euro Area," MAGKS Papers on Economics 202232, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    13. Leonid A. Serkov, 2018. "The External and Internal Shocks' Impact on Macroeconomic Indicators of a Region," Journal of New Economy, Ural State University of Economics, vol. 19(4), pages 45-63, August.
    14. Stéphane Lhuissier & Aymeric Ortmans & Fabien Tripier, 2024. "The Risk of Inflation Dispersion in the Euro Area," Working papers 954, Banque de France.
    15. Duarte, Margarida & Wolman, Alexander L., 2008. "Fiscal policy and regional inflation in a currency union," Journal of International Economics, Elsevier, vol. 74(2), pages 384-401, March.
    16. Liu, Shih-Fu & Hwang, Yu-Ning & Lai, Ching-Chong, 2017. "Internal imbalances in the monetary union with asymmetric openness," International Review of Economics & Finance, Elsevier, vol. 52(C), pages 380-401.
    17. Abban, Stanley & Ofori-Abebrese, Grace, 2019. "The Prospect Of ECOWAS Currency Union On Intra-Regional Trade," MPRA Paper 102226, University Library of Munich, Germany.
    18. Kayam, Saime S., 2011. "Influence of institutional factors and wage-setting mechanism in a dual labour market with currency union: Northern Cyprus," MPRA Paper 39154, University Library of Munich, Germany.
    19. Cristina Checherita-Westphal & Nadine Leiner-Killinger & Teresa Schildmann, 2025. "Euro area inflation differentials: the role of fiscal policies revisited," Empirical Economics, Springer, vol. 68(2), pages 803-854, February.
    20. Hubrich, Kirstin & Marcellino, Massimiliano & Beck, Günter, 2011. "On the importance of sectoral and regional shocks for price-setting," CEPR Discussion Papers 8357, C.E.P.R. Discussion Papers.
    21. 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.
    22. Brede, Maren, 2018. "Real exchange rate dynamics in New-Keynesian models – The Balassa-Samuelson effect revisited," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181539, Verein für Socialpolitik / German Economic Association.
    23. Ackon, Kwabena Meneabe, 2013. "Effect Of Fiscal Policy Shocks In Brazil," MPRA Paper 100741, University Library of Munich, Germany.
    24. Neyer, Ulrike & Stempel, Daniel, 2022. "How should central banks react to household inflation heterogeneity?," DICE Discussion Papers 378, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    25. José-Miguel Cardoso-Costa & Vivien Lewis, 2017. "Fiscal Policy and Inflation in a Monetary Union," Economica, London School of Economics and Political Science, vol. 84(336), pages 779-796, October.
    26. Kashiwagi, Masanori, 2017. "A vehicle currency country's welfare under optimal monetary policy," Japan and the World Economy, Elsevier, vol. 42(C), pages 23-31.
    27. Okano, Eiji, 2014. "How important is fiscal policy cooperation in a currency union?," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 266-286.
    28. Glocker, Christian & Wegmüller, Philipp, 2024. "Energy price surges and inflation: Fiscal policy to the rescue?," Journal of International Money and Finance, Elsevier, vol. 149(C).
    29. Pytlarczyk, Ernest, 2005. "An estimated DSGE model for the German economy within the euro area," Discussion Paper Series 1: Economic Studies 2005,33, Deutsche Bundesbank.
    30. Lieb, L.M., 2009. "Taking real rigidities seriously: implications for optimal policy design in a currency union," Research Memorandum 032, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    31. Sandra Gomes, 2004. "Monetary Policy in a Currency Union with National Price Asymmetries," Working Papers w200416, Banco de Portugal, Economics and Research Department.
    32. Coleman, Simeon, 2012. "Where Does the Axe Fall? Inflation Dynamics and Poverty Rates: Regional and Sectoral Evidence for Ghana," World Development, Elsevier, vol. 40(12), pages 2454-2467.
    33. Correia, Isabel & Adão, Bernardino, 2010. "Labor Immobility and the Transmission Mechanism of Monetary Policy in a Monetary Union," CEPR Discussion Papers 8068, C.E.P.R. Discussion Papers.
    34. Evers, Michael P., 2012. "Federal fiscal transfer rules in monetary unions," European Economic Review, Elsevier, vol. 56(3), pages 507-525.
    35. 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.
    36. von Thadden, Leopold & Lipińska, Anna, 2009. "Monetary and fiscal policy aspects of indirect tax changes in a monetary union," Working Paper Series 1097, European Central Bank.
    37. Nuno Palma & André C. Silva, 2023. "Spending a Windfall," Economics Discussion Paper Series 2305, Economics, The University of Manchester.
    38. Brede, Maren, 2016. "Budget-neutral fiscal rules targeting inflation differentials," VfS Annual Conference 2016 (Augsburg): Demographic Change 145513, Verein für Socialpolitik / German Economic Association.

  12. Alexander L. Wolman, 2003. "Real implications of the zero bound on nominal interest rates," Working Paper 03-15, Federal Reserve Bank of Richmond.

    Cited by:

    1. Gregor Bäurle & Daniel Kaufmann, 2014. "Exchange rate and price dynamics in a small open economy - the role of the zero lower bound and monetary policy regimes," Working Papers 2014-10, Swiss National Bank.
    2. Mervyn A. King, 1999. "Challenges for monetary policy : new and old," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 11-57.
    3. Steve Ambler, 2009. "Price‐Level Targeting And Stabilisation Policy: A Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 23(5), pages 974-997, December.
    4. Ngo, Phuong V., 2021. "Fiscal Multipliers At The Zero Lower Bound: The Role Of Government Spending Persistence," Macroeconomic Dynamics, Cambridge University Press, vol. 25(4), pages 970-997, June.
    5. William T. Gavin & Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2013. "The stimulative effect of forward guidance," Working Papers 2013-38, Federal Reserve Bank of St. Louis.
    6. Robert Hetzel, 2021. "Assessing the Powell policy review," Economic Affairs, Wiley Blackwell, vol. 41(1), pages 51-58, February.
    7. Tyler Atkinson & Alexander W. Richter & Nathaniel A. Throckmorton, 2018. "The Zero Lower Bound and Estimation Accuracy," Working Papers 1804, Federal Reserve Bank of Dallas.
    8. Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).
    9. Jeffrey C. Fuhrer, 2000. "Optimal monetary policy in a model with habit formation," Working Papers 00-5, Federal Reserve Bank of Boston.
    10. Lasitha R. C. Pathberiya, 2016. "Optimal Monetary Policy at the Zero Lower Bound on Nominal Interest Rates in a Cost Channel Economy," Discussion Papers Series 568, School of Economics, University of Queensland, Australia.
    11. Kaufmann, Daniel & Bäurle, Gregor, 2013. "Exchange Rate and Price Dynamics at the Zero Lower Bound," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79872, Verein für Socialpolitik / German Economic Association.
    12. Michael Woodford, 1999. "Commentary : how should monetary policy be conducted in an era of price stability?," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 277-316.
    13. Hatcher, Michael C., 2011. "Comparing inflation and price-level targeting: A comprehensive review of the literature," Cardiff Economics Working Papers E2011/22, Cardiff University, Cardiff Business School, Economics Section.
    14. Fujiwara, Ippei & McAdam, Peter & Roberts, John M., 2006. "Monetary policy at the zero interest bound: A model comparison exercise," Journal of the Japanese and International Economies, Elsevier, vol. 20(3), pages 305-313, September.
    15. Robert Amano & Malik Shukayev, 2009. "Risk Premium Shocks and the Zero Bound on Nominal Interest Rates," Staff Working Papers 09-27, Bank of Canada.
    16. George A. Kahn, 2009. "Beyond inflation targeting: should central banks target the price level?," Economic Review, Federal Reserve Bank of Kansas City, vol. 94(Q III), pages 35-64.
    17. Adam, Klaus & Billi, Roberto M., 2007. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.
    18. Lars E.O. Svensson, 1999. "Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability," NBER Working Papers 7276, National Bureau of Economic Research, Inc.
    19. Weber Ernst Juerg, 2010. "The Role of the Real Interest Rate in U.S. Macroeconomic History," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-26, April.
    20. Junning Cai, 2004. "Liquidity Trap Prevention and Escape: A Simple Proposition," Macroeconomics 0402033, University Library of Munich, Germany.
    21. Pontiggia, D., 2012. "Optimal long-run inflation and the New Keynesian model," Journal of Macroeconomics, Elsevier, vol. 34(4), pages 1077-1094.
    22. Peter J. Morgan, 2012. "The Role and Effectiveness of Unconventional Monetary Policy," Chapters, in: Masahiro Kawai & Peter J. Morgan & Shinji Takagi (ed.), Monetary and Currency Policy Management in Asia, chapter 2, Edward Elgar Publishing.
    23. Roberto M. Billi, 2008. "Price-level targeting and risk management in a low-inflation economy," Research Working Paper RWP 08-09, Federal Reserve Bank of Kansas City.
    24. Roc Armenter, 2013. "The perils of nominal targets," Working Papers 14-2, Federal Reserve Bank of Philadelphia.
    25. Sandra Gomes, 2014. "Euro area structural reforms in times of a global crisis," Working Papers w201408, Banco de Portugal, Economics and Research Department.
    26. Gauti Eggertsson & Sergey K. Egiev & Alessandro Lin & Josef Platzer & Luca Riva, 2020. "A Toolkit for Solving Models with a Lower Bound on Interest Rates of Stochastic Duration," Working Papers 2020-14, Brown University, Department of Economics.
    27. Benhabib, Jess & Uribe, Martín & Schmitt-Grohé, Stephanie, 2001. "Avoiding Liquidity Traps," CEPR Discussion Papers 2948, C.E.P.R. Discussion Papers.
    28. Jerome H. Powell, 2019. "Monetary Policy: Normalization and the Road Ahead : a speech at the 2019 SIEPR Economic Summit, Stanford Institute of Economic Policy Research, Stanford, California, March 8, 2019," Speech 1044, Board of Governors of the Federal Reserve System (U.S.).
    29. William T. Gavin & Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2013. "Global Dynamics at the Zero Lower Bound," Auburn Economics Working Paper Series auwp2013-17, Department of Economics, Auburn University.
    30. Giannoni, Marc P., 2014. "Optimal interest-rate rules and inflation stabilization versus price-level stabilization," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 110-129.
    31. David M. Arseneau, 2004. "Expectation traps in a New Keynesian open economy model," Finance and Economics Discussion Series 2004-45, Board of Governors of the Federal Reserve System (U.S.).
    32. Roberto M. Billi, 2005. "The Optimal Inflation Buffer with a Zero Bound on Nominal Interest Rates," Computing in Economics and Finance 2005 25, Society for Computational Economics.
    33. Antonio Mele & Krisztina Molnar & Sergio Santoro, 2015. "On the perils of stabilizing prices when agents are learning," School of Economics Discussion Papers 0215, School of Economics, University of Surrey.
    34. Klaeffling, Matt & López Pérez, Víctor, 2003. "Inflation targets and the liquidity trap," Working Paper Series 272, European Central Bank.
    35. Hatcher, Michael C., 2011. "Inflation versus price-level targeting and the zero lower bound: Stochastic simulations from the Smets-Wouters US model," Cardiff Economics Working Papers E2011/24, Cardiff University, Cardiff Business School, Economics Section.
    36. R. Anton Braun & Lena Mareen Korber, 2011. "New Keynesian dynamics in a low interest rate environment," FRB Atlanta Working Paper 2011-10, Federal Reserve Bank of Atlanta.
    37. Le, Vo Phuong Mai & Meenagh, David & Minford, Patrick, 2014. "Monetarism rides again? US monetary policy in a world of Quantitative Easing," Cardiff Economics Working Papers E2014/22, Cardiff University, Cardiff Business School, Economics Section.
    38. James A. Clouse & Dale W. Henderson & Athanasios Orphanides & David H. Small & Peter A. Tinsley, 2000. "Monetary policy when the nominal short-term interest rate is zero," Finance and Economics Discussion Series 2000-51, Board of Governors of the Federal Reserve System (U.S.).
    39. Roc Armenter, 2014. "The Perils of Nominal Targets," 2014 Meeting Papers 428, Society for Economic Dynamics.
    40. Smets, Frank & Vestin, David & Gaspar, Ví­tor, 2007. "Is time ripe for price level path stability?," Working Paper Series 818, European Central Bank.
    41. Le, Vo Phuong Mai & Matthews, Kent & Meenagh, David & Minford, Patrick & Xiao, Zhiguo, 2015. "China s financial crisis the role of banks and monetary policy," Cardiff Economics Working Papers E2015/1, Cardiff University, Cardiff Business School, Economics Section.
    42. Bokor, László, 2007. "Optimality criteria of hybrid inflation-price level targeting," MPRA Paper 10278, University Library of Munich, Germany, revised Jul 2008.
    43. Gauti B. Eggertsson, 2006. "Fiscal multipliers and policy coordination," Staff Reports 241, Federal Reserve Bank of New York.
    44. Pavel Potužák, 2018. "Stimuluje spotřebu v situaci nulové nominální úrokové míry zvýšení inflačních očekávání? [Does an Increase in Inflation Expectations Stimulate Consumption at the Zero Lower Bound?]," Politická ekonomie, Prague University of Economics and Business, vol. 2018(6), pages 751-775.
    45. Mota, Paulo R. & Fernandes, Abel L.C., 2022. "Is the ECB already following albeit implicitly an average inflation targeting strategy?," Research in Economics, Elsevier, vol. 76(3), pages 149-162.
    46. Maksim Isakin & Phuong V. Ngo, 2020. "Variance Decomposition Analysis for Nonlinear Economic Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(6), pages 1362-1374, December.
    47. Athanasios Orphanides, 2004. "Monetary policy in deflation: the liquidity trap in history and practice," Finance and Economics Discussion Series 2004-01, Board of Governors of the Federal Reserve System (U.S.).
    48. Jerome H. Powell, 2019. "Opening Remarks : a speech at the \"Conference on Monetary Policy Strategy, Tools, and Communications Practices\" sponsored by the Federal Reserve, Federal Reserve Bank of Chicago, Chicago, Illinois, June 4, 2019," Speech 1070, Board of Governors of the Federal Reserve System (U.S.).
    49. Cole, Stephen J., 2018. "The effectiveness of central bank forward guidance under inflation and price-level targeting," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 146-161.
    50. Jiri Bohm & Jan Filacek & Ivana Kubicova & Romana Zamazalova, 2011. "Price-Level Targeting - A Real Alternative to Inflation Targeting?," Research and Policy Notes 2011/01, Czech National Bank, Research and Statistics Department.
    51. Donald Coletti & René Lalonde & Dirk Muir, 2008. "Inflation Targeting and Price-Level-Path Targeting in the GEM: Some Open Economy Considerations," Staff Working Papers 08-6, Bank of Canada.
    52. Sofía Bauducco & Rodrigo Caputo, 2010. "Price Level Targeting and Inflation Targeting: a Review," Working Papers Central Bank of Chile 601, Central Bank of Chile.
    53. Cole, Stephen J., 2020. "The influence of learning and price-level targeting on central bank forward guidance," Journal of Macroeconomics, Elsevier, vol. 65(C).
    54. Sofía Bauducco B. & Rodrigo Caputo G, 2011. "Metas de Nivel de Precios y Metas de Inflación: Una Revisión de la Literatura," Notas de Investigación Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 14(1), pages 55-67, April.
    55. David L. Reifschneider & John M. Roberts, 2005. "Expectations formation and the effectiveness of strategies for limiting the consequences of the zero bound on interest rates," Finance and Economics Discussion Series 2005-70, Board of Governors of the Federal Reserve System (U.S.).
    56. Gauti B. Eggertsson & Sergei K. Egiev, 2025. "Liquidity Traps: A Unified Theory of the Great Depression and the Great Recession," Journal of Economic Literature, American Economic Association, vol. 63(4), pages 1424-1551, December.
    57. Kevin XD Huang & Nam T Vu, 2019. "Rare but Long-lasting Liquidity Traps and Fiscal Stimulus," Vanderbilt University Department of Economics Working Papers 19-00014, Vanderbilt University Department of Economics.
    58. Gauti B. Eggertsson & Michael Woodford, 2003. "Optimal Monetary Policy in a Liquidity Trap," NBER Working Papers 9968, National Bureau of Economic Research, Inc.
    59. Le, Vo Phuong Mai & Matthews, Kent & Meenagh, David & Minford, Patrick & Xiao, Zhiguo, 2021. "Shadow banks, banking policies and China’s macroeconomic fluctuations," Journal of International Money and Finance, Elsevier, vol. 116(C).
    60. Steve Ambler, 2009. "Is It Time For Price‐Level Targeting?," Economic Affairs, Wiley Blackwell, vol. 29(3), pages 35-39, September.
    61. Ragna Alstadheim, 2010. "The zero lower bound on the interest rate and a Neo-Classical Phillips curve," Working Paper 2010/13, Norges Bank.
    62. Reifschneider, David L. & Roberts, John M., 2006. "Expectations formation and the effectiveness of strategies for limiting the consequences of the zero bound," Journal of the Japanese and International Economies, Elsevier, vol. 20(3), pages 314-337, September.
    63. Jeffrey C. Fuhrer, 2001. "Optimal monetary policy in a model with habit formation and explicit tax distortions," Working Papers 01-06, Federal Reserve Bank of Boston.
    64. Gauti B. Eggertsson, 2011. "What Fiscal Policy Is Effective at Zero Interest Rates?," NBER Chapters, in: NBER Macroeconomics Annual 2010, volume 25, pages 59-112, National Bureau of Economic Research, Inc.
    65. Collingro, Franziska & Frenkel, Michael, 2020. "On the financial market impact of euro area monetary policy: A comparative study before and after the Global Financial Crisis," Global Finance Journal, Elsevier, vol. 45(C).
    66. Paulo R. Mota & Abel L. C. Fernandes, 2019. "The Dynamic Adjustment Of Central Banks’ Target Interest Rate: The Case Of The Ecb," FEP Working Papers 613, Universidade do Porto, Faculdade de Economia do Porto.
    67. Carl E. Walsh, 2009. "Using monetary policy to stabilize economic activity," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 245-296.
    68. RUGE-MURCIA, Francisco J., 2009. "Do Inflation-Targeting Central Banks Implicitly Target the Price Level?," Cahiers de recherche 16-2009, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    69. Francisco Ilabaca, 2018. "Measuring the Effects of US Unconventional Monetary Policy on International Financial Markets," 2018 Meeting Papers 861, Society for Economic Dynamics.
    70. Mr. Gauti B. Eggertsson, 2003. "How to Fight Deflation in a Liquidity Trap: Committing to Being Irresponsible," IMF Working Papers 2003/064, International Monetary Fund.

  13. Duarte, Margarida & Wolman, Alexander L., 2002. "Regional inflation in a currency union: fiscal policy vs. fundamentals," Working Paper Series 180, European Central Bank.

    Cited by:

    1. Lipińska, Anna, 2008. "The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries," Working Paper Series 896, European Central Bank.
    2. Fabio Canova & Evi Pappa, 2003. "Price differentials in monetary unions: The role of fiscal shocks," Economics Working Papers 923, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2005.
    3. Pappa, Evi, 2005. "New-Keynesian or RBC Transmission? The Effects of Fiscal Shocks in Labour Markets," CEPR Discussion Papers 5313, C.E.P.R. Discussion Papers.
    4. Filippo Altissimo & Pierpaolo Benigno & Diego Palenzuela, 2011. "Inflation Differentials in a Currency Area: Facts, Explanations and Policy," Open Economies Review, Springer, vol. 22(2), pages 189-233, April.
    5. Tatiana Kirsanova & Mathan Satchi & David Vines & Simon Wren‐Lewis, 2007. "Optimal Fiscal Policy Rules in a Monetary Union," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1759-1784, October.
    6. Giorgio Canarella & Stephen Miller & Stephen Pollard, 2011. "The Global Financial Crisis and Stochastic Convergence in the Euro Area," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 17(3), pages 315-333, August.
    7. Hubrich, Kirstin & Marcellino, Massimiliano & Beck, Günter W., 2006. "Regional inflation dynamics within and across euro area countries and a comparison with the US," Working Paper Series 681, European Central Bank.
    8. Javier Andrés & Eva Ortega & Javier Vallés, 2003. "Market structure and inflation differentials in the European Monetary Union," Working Papers 0301, Banco de España.
    9. Andersen, Torben M., 2008. "Heterogenous wage formation under a common monetary policy," Economic Modelling, Elsevier, vol. 25(4), pages 740-771, July.
    10. Evi Pappa, 2005. "New Keynesian or RBC Transmission? The Effects of Fiscal Policy in Labor Markets," Working Papers 293, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    11. Mykhaylova, Olena, 2009. "Welfare implications of country size in a monetary union," MPRA Paper 23323, University Library of Munich, Germany.
    12. Canova, Fabio & Pappa, Evi, 2003. "Price Dispersions in Monetary Unions: The Role of Fiscal Shocks," CEPR Discussion Papers 3746, C.E.P.R. Discussion Papers.
    13. Weber, Axel A. & Beck, Günter W., 2005. "Inflation rate dispersion and convergence in monetary and economic unions: lessons for the ECB," CFS Working Paper Series 2005/31, Center for Financial Studies (CFS).
    14. Canova, Fabio & Pappa, Evi, 2005. "The Elusive Costs and the Immaterial Gains of Fiscal Constraints," CEPR Discussion Papers 5406, C.E.P.R. Discussion Papers.
    15. Titiana Kirsanova & David Vines & Mathan Satchi & Simon Wren-Lewis, 2005. "Inflation Persistence, Fiscal Constraints and Non-cooperative Authorities Stabilization Policy in a Monetary Union," Money Macro and Finance (MMF) Research Group Conference 2005 17, Money Macro and Finance Research Group.
    16. Philip R. Lane & Patrick Honohan, 2003. "Divergent Inflation Rates in EMU," Trinity Economics Papers 20034, Trinity College Dublin, Department of Economics.
    17. Hubrich, Kirstin & Marcellino, Massimiliano & Beck, Günter, 2011. "On the importance of sectoral and regional shocks for price-setting," CEPR Discussion Papers 8357, C.E.P.R. Discussion Papers.
    18. Matthew B. Canzoneri & Robert E. Cumby & Behzad T. Diba, 2005. "How Do Monetary and Fiscal Policy Interact in the European Monetary Union?," NBER Working Papers 11055, National Bureau of Economic Research, Inc.
    19. Canova, Fabio & Pappa, Evi, 2005. "Does it cost to be virtuous? The macroeconomic effects of fiscal constraints," LSE Research Online Documents on Economics 526, London School of Economics and Political Science, LSE Library.
    20. Matthew Canzoneri, 2007. "Coordination of Monetary and Fiscal Policy in a Monetary Union: Policy Issues & Analytical Models," Money Macro and Finance (MMF) Research Group Conference 2006 165, Money Macro and Finance Research Group.
    21. Guenter Beck & Massimiliano Marcellino, 2006. "Regional Inflation Dynamics within and across Euro Area and a Comparison with the US," Computing in Economics and Finance 2006 338, Society for Computational Economics.
    22. Evi Pappa, 2005. "The Unbearable Tightness of Being in a Monetary Union: Fiscal Restrictions and Regional Stability"," Working Papers 294, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    23. Margarida Duarte & Alexander L. Wolman, 2003. "Fiscal policy and regional inflation in a currency union," Working Paper 03-11, Federal Reserve Bank of Richmond.
    24. Matthew B. Canzoneri, 2007. "Coordination Of Monetary And Fiscal Policy In A Monetary Union: Policy Issues And Analytical Models," Manchester School, University of Manchester, vol. 75(s1), pages 21-43, September.
    25. I. Arnold & C.J.M. Kool, 2004. "The Role of Inflation Differentials in Regional Adjustment: Evidence from the United States," Working Papers 04-13, Utrecht School of Economics.
    26. Coleman, Simeon, 2012. "Where Does the Axe Fall? Inflation Dynamics and Poverty Rates: Regional and Sectoral Evidence for Ghana," World Development, Elsevier, vol. 40(12), pages 2454-2467.
    27. Lipinska, Anna, 2008. "The Maastricht Criteria and Optimal Monetary and Fiscal Policy Mix for the EMU Accession Countries," MPRA Paper 16376, University Library of Munich, Germany.
    28. David López-Salido & Fernando Restoy & Javier Vallés, 2005. "Inflation differentials in EMU: the Spanish case," Working Papers 0514, Banco de España.
    29. Brede, Maren, 2016. "Budget-neutral fiscal rules targeting inflation differentials," VfS Annual Conference 2016 (Augsburg): Demographic Change 145513, Verein für Socialpolitik / German Economic Association.

  14. Aubhik Khan & Robert G. King & Alexander L. Wolman, 2001. "Optimal monetary policy," Working Papers 01-5, Federal Reserve Bank of Philadelphia.

    Cited by:

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  15. Aubhik Khan & Robert G. King & Alexander L. Wolman, 2001. "The pitfalls of monetary discretion," Working Paper 01-08, Federal Reserve Bank of Richmond.

    Cited by:

    1. Roc Armenter & Martin Bodenstein, 2006. "Can the U.S. monetary policy fall (again) in an expectation trap?," International Finance Discussion Papers 860, Board of Governors of the Federal Reserve System (U.S.).
    2. Robert G. King & Alexander L. Wolman, 2004. "Monetary discretion, pricing complementarity and dynamic multiple equilibria," International Finance Discussion Papers 802, Board of Governors of the Federal Reserve System (U.S.).
    3. Stefania Albanesi & V. V. Chari & Lawrence J. Christiano, 2003. "Expectation traps and monetary policy," Staff Report 319, Federal Reserve Bank of Minneapolis.

  16. Aubhik Khan & Robert G. King & Alexander L. Wolman, 2001. "The pitfalls of discretionary monetary policy," Working Papers 01-16, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. David M. Arseneau, 2004. "Expectation traps in a New Keynesian open economy model," Finance and Economics Discussion Series 2004-45, Board of Governors of the Federal Reserve System (U.S.).
    2. Willem Van Zandweghe & Alexander L. Wolman, 2011. "Discretionary monetary policy in the Calvo model," Working Paper 11-03, Federal Reserve Bank of Richmond.

  17. Alexander L. Wolman, 1999. "Does state-dependent pricing imply coordination failure?," Working Paper 99-05, Federal Reserve Bank of Richmond.

    Cited by:

    1. Huang, Kevin X.D. & Meng, Qinglai, 2007. "Capital and macroeconomic instability in a discrete-time model with forward-looking interest rate rules," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2802-2826, August.
    2. Russell Cooper & Andrew John, 2000. "Imperfect competition and macroeconomics : Theory and quantitative implications," Cahiers d'Économie Politique, Programme National Persée, vol. 37(1), pages 289-328.
    3. John C. Driscoll & Harumi Ito, 2003. "Sticky prices, coordination and enforcement," Finance and Economics Discussion Series 2003-30, Board of Governors of the Federal Reserve System (U.S.).

  18. Michael Dotsey & Robert G. King & Alexander L. Wolman, 1997. "State-dependent pricing and the dynamics of business cycles," Working Paper 97-02, Federal Reserve Bank of Richmond.

    Cited by:

    1. Michael Gail, 2003. "Habit Persistence in Consumption in a Sticky Price Model of the Business Cycle," Volkswirtschaftliche Diskussionsbeiträge 111-03, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht, revised Jul 2004.
    2. Carvalho, Carlos & Schwartzman, Felipe, 2015. "Selection and monetary non-neutrality in time-dependent pricing models," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 141-156.
    3. Andrew Levin & Christopher J. Erceg & Dale W. Henderson, 1999. "Optimal Monetary Policy with Staggered Wage and Price Contracts," Computing in Economics and Finance 1999 1151, Society for Computational Economics.
    4. Michael T. Kiley, 1997. "Staggered price setting and real rigidities," Finance and Economics Discussion Series 1997-46, Board of Governors of the Federal Reserve System (U.S.).
    5. Antonio Moreno, 2003. "Reaching Inflation Stability," Faculty Working Papers 13/03, School of Economics and Business Administration, University of Navarra.
    6. Valerie Herzberg & George Kapetanios & Simon Price, 2003. "Import prices and exchange rate pass-through: theory and evidence from the United Kingdom," Bank of England working papers 182, Bank of England.
    7. Michael Gail, 2000. "Optimal Monetary Policy in an Optimizing Stochastic Dynamic Model with Sticky Prices," Volkswirtschaftliche Diskussionsbeiträge 87-00, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht, revised 15 May 2001.
    8. Katharine S. Neiss & Evi Pappa, 2005. "Persistence without too much price stickiness: the role of variable factor utilization," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(1), pages 231-255, January.
    9. Robert G. King & Alexander L. Wolman, 1996. "Inflation Targeting in a St. Louis Model of the 21st Century," NBER Working Papers 5507, National Bureau of Economic Research, Inc.
    10. Michael Gail, 2001. "Persistency and Money Demand Distortions in a Stochastic DGE Model with Sticky Prices," Volkswirtschaftliche Diskussionsbeiträge 96-01, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht, revised 14 Feb 2003.
    11. Michael B. Devereux, 2004. "Exchange Rate Policy and Endogenous Price Flexibility," Working Papers 202004, Hong Kong Institute for Monetary Research.
    12. Alex Ho, Wai-Yip & Yetman, James, 2008. "The long-run output-inflation trade-off with menu costs," The North American Journal of Economics and Finance, Elsevier, vol. 19(3), pages 261-273, December.
    13. Tyran, Jean-Robert & Goette, Lorenz & Minsch, Rudolf, 2005. "Micro Evidence on the Adjustment of Sticky-Price Goods: It's How Often, Not How Much," CEPR Discussion Papers 5364, C.E.P.R. Discussion Papers.
    14. Kolver Hernandez, 2004. "Inflation and Output Dynamics with State-Dependent Frequency of Price Changes," Macroeconomics 0411020, University Library of Munich, Germany.

  19. Robert G. King & Alexander L. Wolman, 1996. "Inflation Targeting in a St. Louis Model of the 21st Century," NBER Working Papers 5507, National Bureau of Economic Research, Inc.

    Cited by:

    1. Campbell Leith & Ding Liu, 2014. "The inflation bias under Calvo and Rotemberg pricing," Working Papers 2014_06, Business School - Economics, University of Glasgow.
    2. Ellison, Martin & Scott, Andrew, 2000. "Sticky prices and volatile output," Journal of Monetary Economics, Elsevier, vol. 46(3), pages 621-632, December.
    3. Kabundi, Alain & Poon, Aubrey & Wu, Ping, 2023. "A time-varying Phillips curve with global factors: Are global factors important?," Economic Modelling, Elsevier, vol. 126(C).
    4. Calza Alessandro & Zaghini Andrea, 2011. "Welfare Costs of Inflation and the Circulation of U.S. Currency Abroad," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-21, May.
    5. Faia, Ester, 2006. "Optimal monetary policy rules with labor market frictions," Working Paper Series 698, European Central Bank.
    6. Michael T. Kiley, 1996. "The lead of output over inflation in sticky price models," Finance and Economics Discussion Series 96-33, Board of Governors of the Federal Reserve System (U.S.).
    7. Dotsey, Michael & King, Robert G., 2005. "Implications of state-dependent pricing for dynamic macroeconomic models," Journal of Monetary Economics, Elsevier, vol. 52(1), pages 213-242, January.
    8. Galí, Jordi & Gertler, Mark, 1999. "Inflation Dynamics: A Structural Economic Analysis," CEPR Discussion Papers 2246, C.E.P.R. Discussion Papers.
    9. Michael Gail, 2003. "Habit Persistence in Consumption in a Sticky Price Model of the Business Cycle," Volkswirtschaftliche Diskussionsbeiträge 111-03, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht, revised Jul 2004.
    10. Burkhard Heer & Andreas Schabert, 2000. "Open Market Operations as a Monetary Policy Shock Measure in a Quantitative Business Cycle Model," Econometric Society World Congress 2000 Contributed Papers 1040, Econometric Society.
    11. Aysun, Uluc, 2008. "Automatic stabilizer feature of fixed exchange rate regimes," Emerging Markets Review, Elsevier, vol. 9(4), pages 302-328, December.
    12. Paustian, Matthias & Stoltenberg, Christian, 2008. "Optimal interest rate stabilization in a basic sticky-price model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3166-3191, October.
    13. Jeffrey C. Fuhrer, 1998. "An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?," RBA Research Discussion Papers rdp9812, Reserve Bank of Australia.
    14. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy.
    15. Galí, Jordi, 2011. "Are central banks' projections meaningful?," Journal of Monetary Economics, Elsevier, vol. 58(6), pages 537-550.
    16. Gagnon, Edith & Khan, Hashmat, 2005. "New Phillips curve under alternative production technologies for Canada, the United States, and the Euro area," European Economic Review, Elsevier, vol. 49(6), pages 1571-1602, August.
    17. Robert Amano & Steve Ambler & Malik Shukayev, 2012. "Optimal price‐level drift under commitment in the canonical New Keynesian model," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 45(3), pages 1023-1036, August.
    18. James M. Nason & George A. Slotsve, 2004. "Along the New Keynesian Phillips curve with nominal and real rigidities," FRB Atlanta Working Paper 2004-9, Federal Reserve Bank of Atlanta.
    19. Pesaran, M. Hashem & Xu, TengTeng, 2011. "Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults," IZA Discussion Papers 6027, IZA Network @ LISER.
    20. Michael Woodford, 1996. "Control of the Public Debt: A Requirement for Price Stability?," NBER Working Papers 5684, National Bureau of Economic Research, Inc.
    21. Elmar Mertens, 2010. "Discreet Commitments and Discretion of Policymakers with Private Information," 2010 Meeting Papers 763, Society for Economic Dynamics.
    22. Edward Nelson & Anna J. Schwartz, 2007. "The Impact of Milton Friedman on Modern Monetary Economics: Setting the Record Straight on Paul Krugman's "Who Was Milton Friedman?"," NBER Working Papers 13546, National Bureau of Economic Research, Inc.
    23. Marcus Hagedorn, 2007. "A Monetary Model with Strong Liquidity Effects," IEW - Working Papers 353, Institute for Empirical Research in Economics - University of Zurich.
    24. Skufi, Lorena & Kika, Eglent, 2018. "The Price Formation Process in the Albanian Economy: a macro modelling approach," MPRA Paper 121973, University Library of Munich, Germany, revised 19 Aug 2019.
    25. Funk Peter & Kromen Bettina, 2010. "Inflation and Innovation-Driven Growth," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-52, August.
    26. William Poole & Robert H. Rasche & David C. Wheelock, 2013. "The Great Inflation: Did The Shadow Know Better?," NBER Chapters, in: The Great Inflation: The Rebirth of Modern Central Banking, pages 61-107, National Bureau of Economic Research, Inc.
    27. Ca' Zorzi, Michele & Rubaszek, Michał, 2008. "On the empirical evidence of the intertemporal current account model for the euro area countries," Working Paper Series 895, European Central Bank.
    28. William Gavin & Benjamin Keen, 2013. "U.S. Monetary Policy: A View from Macro Theory," Open Economies Review, Springer, vol. 24(1), pages 33-49, February.
    29. Michael Woodford, 1999. "Optimal Monetary Policy Inertia," NBER Working Papers 7261, National Bureau of Economic Research, Inc.
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    183. Uhlig, H.F.H.V.S., 2002. "One Money, But Many Fiscal Policies in Europe : What are the Consequences?," Other publications TiSEM f2cdcc6c-329f-4ae6-915b-2, Tilburg University, School of Economics and Management.
    184. Álvarez, Luis J. & Burriel, Pablo & Hernando, Ignacio, 2005. "Do decreasing hazard functions for price changes make any sense?," Working Paper Series 461, European Central Bank.
    185. Ales Marsal & Katrin Rabitsch & Lorant Kaszab, 2023. "From Linear to Nonlinear: Rethinking Inflation Dynamics in the Calvo Pricing Mechanism," Department of Economics Working Papers wuwp350, Vienna University of Economics and Business, Department of Economics.
    186. Guido Ascari & Nicola Branzoli, 2010. "The long-run optimal degree of indexation in new Keynesian models with price staggering à la Calvo," Economics Bulletin, AccessEcon, vol. 30(1), pages 482-493.
    187. Etro, Federico & Rossi, Lorenza, 2015. "New-Keynesian Phillips curve with Bertrand competition and endogenous entry," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 318-340.
    188. Keen, Benjamin D., 2004. "In search of the liquidity effect in a modern monetary model," Journal of Monetary Economics, Elsevier, vol. 51(7), pages 1467-1494, October.
    189. 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.
    190. Emi Nakamura & Jón Steinsson & Patrick Sun & Daniel Villar, 2016. "The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation," NBER Working Papers 22505, National Bureau of Economic Research, Inc.
    191. Rostagno, Massimo & Altavilla, Carlo & Carboni, Giacomo & Lemke, Wolfgang & Motto, Roberto & Saint Guilhem, Arthur & Yiangou, Jonathan, 2019. "A tale of two decades: the ECB’s monetary policy at 20," Working Paper Series 2346, European Central Bank.
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    193. Jordi Gali, 2002. "Targeting Inflation in a Economy with Staggered Price Setting," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.),Inflation Targeting: Desing, Performance, Challenges, edition 1, volume 5, chapter 6, pages 271-294, Central Bank of Chile.
    194. Matteo Iacoviello, 2005. "House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle," American Economic Review, American Economic Association, vol. 95(3), pages 739-764, June.
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    196. Hasan Bakhshi & Ben Martin & Tony Yates, 2002. "How uncertain are the welfare costs of inflation?," Bank of England working papers 152, Bank of England.
    197. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Timing and real indeterminacy in monetary models," Working Papers (Old Series) 9910R, Federal Reserve Bank of Cleveland.
    198. Feldkord, Eva-Ulrike, 2005. "On the relevance of monetary aggregates in monetary policy models," HWWA Discussion Papers 317, Hamburg Institute of International Economics (HWWA).
    199. Virginia Queijo, 2005. "Bayesian Estimation of a DSGE Model with Financial Frictions for the U.S. and the Euro Area," Computing in Economics and Finance 2005 306, Society for Computational Economics.
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    202. Auray, Stéphane & Fève, Patrick, 2008. "On the observational (non)equivalence of money growth and interest rate rules," Journal of Macroeconomics, Elsevier, vol. 30(3), pages 801-816, September.
    203. Michael Gail, 2002. "Persistency and Money Demand Distortions in a Stochastic DGE Model with Sticky Prices and Capital," Volkswirtschaftliche Diskussionsbeiträge 103-02, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht, revised 05 May 2003.
    204. Uluc Aysun, 2010. "Testing for Balance Sheet Effects in Emerging Markets: A Non‐Crisis Setting," International Finance, Wiley Blackwell, vol. 13(2), pages 223-256, August.
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Articles

  1. Alexander L. Wolman, 2024. "Inflation and Relative Price Changes Since the Onset of the Pandemic," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 24(09), March.

    Cited by:

    1. Baek, Jungho & Caton, James Lee & Miljkovic, Dragan, 2025. "Testing monetary neutrality with respect to relative price of oil using divisia M4," The Quarterly Review of Economics and Finance, Elsevier, vol. 101(C).

  2. Alexander L. Wolman, 2022. "Relative Price Changes Are Unlikely to Account for Recent High Inflation," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 22(10), March.

    Cited by:

    1. Baek, Jungho & Caton, James Lee & Miljkovic, Dragan, 2025. "Testing monetary neutrality with respect to relative price of oil using divisia M4," The Quarterly Review of Economics and Finance, Elsevier, vol. 101(C).
    2. Francisco J. Ruge-Murcia & Alexander L. Wolman, 2022. "Relative Price Shocks and Inflation," Working Paper 22-07, Federal Reserve Bank of Richmond.

  3. Michael Dotsey & Alexander L. Wolman, 2020. "Investigating Nonneutrality In A State‐Dependent Pricing Model With Firm‐Level Productivity Shocks," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(1), pages 159-188, February.
    See citations under working paper version above.
  4. Willem Van Zandweghe & Alexander L. Wolman, 2019. "Discretionary monetary policy in the Calvo model," Quantitative Economics, Econometric Society, vol. 10(1), pages 387-418, January.
    See citations under working paper version above.
  5. Renee Courtois Haltom & Elaine Wissuchek & Alexander L. Wolman, 2018. "Have Yield Curve Inversions Become More Likely?," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue December.

    Cited by:

    1. DRAGOE Sebastian Ilie & OPREAN-STAN Camelia, 2020. "Is The Monetary Transmission Mechanism Broken? Time For People'S Quantitative Easing," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 72(3), pages 29-43, November.

  6. Zhu Wang & Alexander L. Wolman, 2018. "The Decline in Currency Use at a National Retail Chain," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 53-77.

    Cited by:

    1. FUJIKI, Hiroshi, 2025. "Cash Demand and Demographic Changes in Japan," Discussion paper series HIAS-E-145, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.

  7. Wang, Zhu & Wolman, Alexander L., 2016. "Payment choice and currency use: Insights from two billion retail transactions," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 94-115.

    Cited by:

    1. Oz Shy, 2020. "How Merchants Get Paid," Consumer Payments Research Data Reports 2020-02, Federal Reserve Bank of Atlanta.
    2. Carin Cruijsen & Frank Horst, 2019. "Cash or Card? Unravelling the Role of Socio-Psychological Factors," De Economist, Springer, vol. 167(2), pages 145-175, June.
    3. Zhu Wang & Alexander L. Wolman, 2016. "Consumer Payment Choice in the Fifth District: Learning from a Retail Chain," Economic Quarterly, Federal Reserve Bank of Richmond, issue 1Q, pages 51-78.
    4. Zhu Wang & Alexander L. Wolman, 2018. "The Decline in Currency Use at a National Retail Chain," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 53-77.
    5. Supreet Sandhu & Sangeeta Arora, 2022. "Customers' usage behaviour of e‐banking services: Interplay of electronic banking and traditional banking," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 2169-2181, April.
    6. Martin Brown & Nicole Hentschel & Hannes Mettler & Helmut Stix, 2020. "Financial Innovation, Payment Choice and Cash Demand – Causal Evidence from the Staggered Introduction of Contactless Debit Cards (Martin Brown,Nicole Hentschel, Hannes Mettler, Helmut Stix)," Working Papers 230, Oesterreichische Nationalbank (Austrian Central Bank).
    7. Brown, Martin & Hentschel, Nicole & Mettler, Hannes & Stix, Helmut, 2022. "The convenience of electronic payments and consumer cash demand," Journal of Monetary Economics, Elsevier, vol. 130(C), pages 86-102.
    8. Hongze Jiang & Pinghan Liang, 2021. "Less Cash, Less Theft? Evidence from Fintech Development in the People’s Republic of China," ADBI Working Papers 1282, Asian Development Bank Institute.
    9. Hajime Tomura, 2020. "Nominal Contracts and the Payment System," Working Papers 1923, Waseda University, Faculty of Political Science and Economics.
    10. Chen, Heng & Huynh, Kim P. & Shy, Oz, 2019. "Cash versus card: Payment discontinuities and the burden of holding coins," Journal of Banking & Finance, Elsevier, vol. 99(C), pages 192-201.
    11. Justus Meyer & Federica Teppa, 2023. "Euro area consumers' payment behaviour and banking digitalisation," Working Papers 772, DNB.
    12. Broekhoff, Marie-Claire & van der Cruijsen, Carin & de Haan, Jakob, 2024. "Towards financial inclusion: Trust in banks’ payment services among groups at risk," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 104-123.
    13. Rajas Saroy & Sakshi Awasthy & Naveen K. Singh & Sonali M. Adki & Sarat Dhal, 2022. "The Impact of Covid-19 on Digital Payment Habits of Indian Households," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(Special I), pages 19-42, March.
    14. David Bounie & Youssouf Camara, 2020. "Card-Sales Response to Merchant Contactless Payment Acceptance," Post-Print hal-02296302, HAL.
    15. Oz Shy, 2020. "How Currency Denomination and the ATM Affect the Way We Pay," FRB Atlanta Working Paper 2019-2, Federal Reserve Bank of Atlanta.
    16. Arturo Andia & Jose Aurazo & Marcelo Paliza, 2026. "Adoption and welfare effects of payment innovations: the case of digital wallets in Peru," BIS Working Papers 1329, Bank for International Settlements.
    17. Jonker, Nicole & van der Cruijsen, Carin & Bijlsma, Michiel & Bolt, Wilko, 2022. "Pandemic payment patterns," Journal of Banking & Finance, Elsevier, vol. 143(C).
    18. Jasmina Arifovic & John Duffy & Janet Hua Jiang, 2017. "Adoption of a New Payment Method: Theory and Experimental Evidence," Staff Working Papers 17-28, Bank of Canada.
    19. Toshitaka Sekine & Toshiaki Shoji & Tsutomu Watanabe, 2022. "Going Cashless: Government’s Point Reward Program vs. COVID-19," CARF F-Series CARF-F-538, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    20. Carin Cruijsen & Joris Knoben, 2021. "Ctrl+C Ctrl+Pay: Do People Mirror Electronic Payment Behavior of their Peers?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 59(1), pages 69-96, April.
    21. Camara,Youssouf, 2021. "Digital Payments and Business Resilience : Evidence in the Time of COVID-19," Policy Research Working Paper Series 9665, The World Bank.
    22. Claire Greene & Shaun O'Brien & Scott Schuh, 2017. "U. S. consumer cash use, 2012 and 2015: an introduction to the Diary of Consumer Payment Choice," Research Data Report 17-6, Federal Reserve Bank of Boston.
    23. Chun-Yu Ho & Nayoung Kim & Ying Rong & Xin Tian, 2022. "Promoting Mobile Payment with Price Incentives," Management Science, INFORMS, vol. 68(10), pages 7614-7630, October.
    24. Zhu Wang & Julian Wright, 2018. "Should platforms be allowed to charge ad valorem fees?," Journal of Industrial Economics, Wiley Blackwell, vol. 66(3), pages 739-760, September.
    25. David Bounie & Youssouf Camara & John W. Galbraith, 2021. "Consumer Mobility, Online and On-site Commerce and the Geographic Concentration of Economic Activity: Evidence from 20 Billion Transactions," CIRANO Working Papers 2021s-17, CIRANO.
    26. Aurazo, Jose & Vega, Milton, 2021. "Why people use digital payments: Evidence from micro data in Peru," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(4).
    27. Jasmina Arifovic & John Duffy & Janet Jiang, 2017. "Adoption of a New Payment System: Theory and Experimental Evidence," Working Papers 171801, University of California-Irvine, Department of Economics.
    28. Alvarez, Fernando & Lippi, Francesco, 2017. "Cash burns: An inventory model with a cash-credit choice," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 99-112.
    29. Carin van der Cruijsen & Marie-Claire Broekhoff, 2024. "Gender gaps in the world of payments," Working Papers 805, DNB.
    30. Verdier, Marianne, 2024. "Digital payments and bank competition," Journal of Financial Stability, Elsevier, vol. 73(C).
    31. Garín, Julio & Lastrapes, William D. & Lester, Robert, 2021. "On the welfare effects of phasing out paper currency," European Economic Review, Elsevier, vol. 137(C).
    32. Alexander Lubis & Constantinos Alexiou & Joseph G. Nellis, 2019. "Gauging the Impact of Payment System Innovations on Financial Intermediation: Novel Empirical Evidence from Indonesia," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 18(3), pages 290-338, December.
    33. Janet Hua Jiang & Enchuan Shao, 2020. "The Cash Paradox," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 177-197, April.
    34. Ben Lockwood & Erez Yerushalmi, 2019. "How should payment services be taxed?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(1), pages 21-47, June.
    35. Claire Greene & Joanna Stavins, 2020. "Consumer Payment Choice for Bill Payments," Working Papers 20-9, Federal Reserve Bank of Boston.
    36. Ameen Omar Shareef & K.P. Prabheesh, 2022. "Does International Monetary Policy Influence the Bank Risk? Evidence from India," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(2), pages 135-154, August.
    37. Arifovic, Jasmina & Duffy, John & Jiang, Janet Hua, 2023. "Adoption of a new payment method: Experimental evidence," European Economic Review, Elsevier, vol. 154(C).
    38. Martin Brown & Nicole Hentschel & Hannes Mettler & Helmut Stix, 2020. "Financial Innovation, Payment Choice and Cash Demand - Causal Evidence from the Staggered Introduction of Contactless Debit Cards," Working Papers on Finance 2002, University of St. Gallen, School of Finance.
    39. Toshitaka Sekine & Toshiaki Shoji & Tsutomu Watanabe, 2021. "Going Cashless: Evidence from Japan’s Point Reward Program," CARF F-Series CARF-F-525, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    40. David Bounie & Youssouf Camara & John Galbraith, 2020. "Online Commerce, Inter-Regional Retail Trade, and the Evolution of Gravity Effects: Evidence from 20 Billion Transactions," Working Papers hal-02864695, HAL.
    41. Tamás Briglevics & Scott Schuh, 2020. "This Is What's in Your Wallet...and Here's How You Use It," Working Papers 20-04, Department of Economics, West Virginia University.
    42. Scott Schuh, 2018. "Measuring Consumer Expenditures With Payment Diaries," Economic Inquiry, Western Economic Association International, vol. 56(1), pages 13-49, January.
    43. Bounie, David & Camara, Youssouf, 2020. "Card-sales response to merchant contactless payment acceptance," Journal of Banking & Finance, Elsevier, vol. 119(C).
    44. Shy, Oz, 2021. "Cashless stores and cash users," Journal of Policy Modeling, Elsevier, vol. 43(3), pages 622-638.
    45. Scott Schuh, 2017. "Measuring consumer expenditures with payment diaries," Working Papers 17-2, Federal Reserve Bank of Boston.
    46. Claire Greene & Scott Schuh & Joanna Stavins, 2018. "The 2012 diary of consumer payment choice," Research Data Report 18-1, Federal Reserve Bank of Boston.
    47. Samet Gunay & Catherine Prentice & Mohamed Sraieb, 2024. "Do major health shocks affect the interconnectedness of E-commerce and electronic payment markets? a regional analysis," Electronic Commerce Research, Springer, vol. 24(4), pages 2353-2379, December.
    48. Marc Rysman & Shuang Wang & Krzysztof Wozniak, 2025. "Understanding Preferences for Payment Cards using Household Scanner Data," Finance and Economics Discussion Series 2025-096, Board of Governors of the Federal Reserve System (U.S.).
    49. Nur Annisa Hasniawati & Eva R. Lase & Akhis R. Hutabarat, 2020. "Indonesian Household Payment Choice: A Nested Logit Analysis," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 291-313.
    50. Novi Maryaningsih & Suahasil Nazara & Febrio N. Kacaribu & Solikin M. Juhro, 2022. "Central Bank Digital Currency: What Factors Determine Its Adoption?," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 25(1), pages 1-24, June.
    51. Świecka, Beata & Terefenko, Paweł & Paprotny, Dominik, 2021. "Transaction factors’ influence on the choice of payment by Polish consumers," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).

  8. Alexander L. Wolman, 2015. "Relative Price Changes and the Optimal Inflation Rate," Economic Quarterly, Federal Reserve Bank of Richmond, issue 3Q, pages 245-274.

    Cited by:

    1. Shu‐Hua Chen, 2018. "The Credit‐Channel Transmission Mechanism And The Nonlinear Growth And Welfare Effects Of Inflation And Taxes," Economic Inquiry, Western Economic Association International, vol. 56(2), pages 724-744, April.

  9. Huberto M. Ennis & Alexander L. Wolman, 2015. "Large Excess Reserves in the United States: A View from the Cross-Section of Banks," International Journal of Central Banking, International Journal of Central Banking, vol. 11(1), pages 251-289, January.

    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. Chetan Dave & Scott J. Dressler & Lei Zhang, 2020. "Bank Lending, Monetary Policy Transmission, and Interest on Excess Reserves: A FAVAR Analysis," Working Papers 2020-06, University of Alberta, Department of Economics.
    3. Jens H. E. Christensen & Signe Krogstrup, 2016. "A Portfolio Model of Quantitative Easing," Working Paper Series WP16-7, Peterson Institute for International Economics.
    4. John Kandrac & Bernd Schlusche, 2017. "Quantitative Easing and Bank Risk Taking: Evidence from Lending," Finance and Economics Discussion Series 2017-125, Board of Governors of the Federal Reserve System (U.S.).
    5. Todd Keister & Antoine Martin & James J. McAndrews, 2015. "Floor systems and the Friedman rule: the fiscal arithmetic of open market operations," Staff Reports 754, Federal Reserve Bank of New York.
    6. Albertazzi, Ugo & Barbiero, Francesca & Marqués-Ibáñez, David & Popov, Alexander & Rodriguez d’Acri, Costanza & Vlassopoulos, Thomas, 2020. "Monetary policy and bank stability: the analytical toolbox reviewed," Working Paper Series 2377, European Central Bank.
    7. Kuang, Chun & Yang, Jiawen & Zhu, Wenyu, 2024. "Reserve holding and bank lending," Journal of Empirical Finance, Elsevier, vol. 77(C).
    8. Elizabeth C. Klee & Zeynep Senyuz & Emre Yoldas, 2016. "Effects of Changing Monetary and Regulatory Policy on Overnight Money Markets," Finance and Economics Discussion Series 2016-084, Board of Governors of the Federal Reserve System (U.S.).
    9. Miller, Steph & Hoarty, Blake, 2020. "On Regulation and Excess Reserves: The Case of Basel III," Working Papers 10243, George Mason University, Mercatus Center.
    10. Bratsiotis, George, 2018. "Credit Risk, Excess Reserves and Monetary Policy: The Deposits Channel," EconStor Preprints 172770, ZBW - Leibniz Information Centre for Economics, revised 2018.
    11. Antoine Martin & James McAndrews & David Skeie, 2016. "Bank Lending in Times of Large Bank Reserves," International Journal of Central Banking, International Journal of Central Banking, vol. 12(4), pages 193-222, December.
    12. Skander J. Van den Heuvel, 2022. "The Welfare Effects of Bank Liquidity and Capital Requirements," Finance and Economics Discussion Series 2022-072, Board of Governors of the Federal Reserve System (U.S.).
    13. Delis, Manthos & Kokas, Sotirios & Kontonikas, Alexandros, 2024. "Reserves regulation and the risk-taking channel," Journal of Corporate Finance, Elsevier, vol. 89(C).
    14. Hogan, Thomas L., 2021. "Bank lending and interest on excess reserves: An empirical investigation," Journal of Macroeconomics, Elsevier, vol. 69(C).
    15. Ellen Ryan & Karl Whelan, 2023. "A Model of QE, Reserve Demand, and the Money Multiplier," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 407-439, March.
    16. Selva Demiralp & Jens Eisenschmidt & Thomas Vlassopoulos, 2021. "Negative interest rates, excess liquidity and retail deposits: Banks’ reaction to unconventional monetary policy in the euro area," Koç University-TUSIAD Economic Research Forum Working Papers 1910, Koc University-TUSIAD Economic Research Forum.
    17. Pavon-Prado, David, 2022. "The cost of excess reserves and inflation in the United States during the last century," MPRA Paper 112797, University Library of Munich, Germany.
    18. John Kandrac & Bernd Schlusche, 2021. "Quantitative Easing and Bank Risk Taking: Evidence from Lending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(4), pages 635-676, June.
    19. J. Christina Wang, 2017. "Banks' search for yield in the low interest rate environment: a tale of regulatory adaptation," Working Papers 17-3, Federal Reserve Bank of Boston.
    20. Hoffmann, Peter & Sigaux, Jean-David, 2020. "Determinants of excess reserve holdings," Economics Letters, Elsevier, vol. 195(C).
    21. Stephen Matteo Miller & Blake Hoarty, 2021. "On regulation and excess reserves: The case of Basel III," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(2), pages 215-247, June.
    22. Jens H. E. Christensen & Signe Krogstrup, 2015. "Transmission of Quantitative Easing: The Role of Central Bank Reserves," Working Papers 2015-06, Swiss National Bank.
    23. Felix P. Ackon & Huberto M. Ennis, 2018. "The Fed's Discount Window: An Overview of Recent Data," Working Paper 18-8, Federal Reserve Bank of Richmond.
    24. 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.

  10. Alexander L. Wolman, 2013. "Federal Reserve Interdistrict Settlement," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 117-141.

    Cited by:

    1. Homburg, Stefan, 2018. "Speculative Eurozone Attacks and Departure Strategies," Hannover Economic Papers (HEP) dp-640, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    2. Pasche, Markus, 2017. "ESBies as a Basis for a TARGET2 Settlement Mechanism," MPRA Paper 83012, University Library of Munich, Germany.
    3. Eisenschmidt, Jens & Kedan, Danielle & Schmitz, Martin & Adalid, Ramón & Papsdorf, Patrick, 2017. "The Eurosystem’s asset purchase programme and TARGET balances," Occasional Paper Series 196, European Central Bank.
    4. Eisenschmidt, Jens & Kedan, Danielle & Schmitz, Martin, 2024. "Euro area monetary policy and TARGET balances: A trilogy," Journal of International Money and Finance, Elsevier, vol. 141(C).
    5. Krahnen, Jan Pieter, 2018. "Über Scheinriesen: Was TARGET-Salden tatsächlich bedeuten. Eine finanzökonomische Überprüfung," SAFE White Paper Series 56, Leibniz Institute for Financial Research SAFE.
    6. Hans-Werner Sinn, 2019. "Der Streit um die Targetsalden - Kommentar zu Martin Hellwigs Artikel “Target-Falle oder Empörungsfalle?”," ifo Working Paper Series 316, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    7. Chmielewski Tomasz & Sławiński Andrzej, 2019. "Lessons from TARGET2 imbalances: The case for the ECB being a lender of last resort," Economics and Business Review, Sciendo, vol. 5(2), pages 48-63, June.
    8. Régis Breton & Thibaut Gentil & Sébastien Ray, 2026. "The climate indicator: a tool to support companies in their climate transition [Circulation de la liquidité en zone euro : comment interpréter les positions TARGET des banques centrales ?]," Bulletin de la Banque de France, Banque de France, issue 262.

  11. Alexander L. Wolman, 2011. "The Optimal Rate of Inflation with Trending Relative Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 355-384, March.
    See citations under working paper version above.
  12. Huberto M. Ennis & Alexander L. Wolman, 2010. "Excess reserves and the new challenges for monetary policy," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Mar.

    Cited by:

    1. Gara Afonso & Ricardo Lagos, 2012. "Trade dynamics in the market for federal funds," Staff Reports 549, Federal Reserve Bank of New York.
    2. Kuang, Chun & Yang, Jiawen & Zhu, Wenyu, 2024. "Reserve holding and bank lending," Journal of Empirical Finance, Elsevier, vol. 77(C).
    3. Theodora Akweley Odonkor & Bright Addiyiah Osei & Bo Sjö, 2016. "Risk-taking, Ownership and Excess Reserves in the Ghanaian Banking System," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 15(2), pages 147-168, August.
    4. Huberto M. Ennis & Alexander L. Wolman, 2012. "Large excess reserves in the U.S.: a view from the cross-section of banks," Working Paper 12-05, Federal Reserve Bank of Richmond.

  13. Tim Hursey & Alexander L. Wolman, 2010. "Monetary policy and global equilibria in a production economy," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(4Q), pages 317-337.

    Cited by:

    1. S. BoraÄŸan Aruoba & Pablo Cuba-Borda & Frank Schorfheide, 2012. "Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries," PIER Working Paper Archive 14-035, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 19 Jun 2014.
    2. S. Boragan Aruoba & Frank Schorfheide, 2013. "Macroeconomic dynamics near the ZLB: a tale of two equilibria," Working Papers 13-29, Federal Reserve Bank of Philadelphia.
    3. Schmidt, Sebastian, 2016. "Lack of confidence, the zero lower bound, and the virtue of fiscal rules," Journal of Economic Dynamics and Control, Elsevier, vol. 70(C), pages 36-53.

  14. Alexander L. Wolman, 2008. "Nominal frictions, relative price adjustment, and the limits to monetary policy," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Sum), pages 219-233.

    Cited by:

    1. Alexander L. Wolman, 2011. "The Optimal Rate of Inflation with Trending Relative Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(2‐3), pages 355-384, March.
    2. Alexander L. Wolman, 2015. "Relative Price Changes and the Optimal Inflation Rate," Economic Quarterly, Federal Reserve Bank of Richmond, issue 3Q, pages 245-274.
    3. Gerberding, Christina & Gerke, Rafael & Hammermann, Felix, 2010. "Price-level targeting when there is price-level drift," Discussion Paper Series 1: Economic Studies 2010,23, Deutsche Bundesbank.
    4. Gerberding, Christina & Gerke, Rafael & Hammermann, Felix, 2012. "Price-level targeting when there is price-level drift," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 757-768.
    5. Sevim Kosem Alp, 2010. "Optimal Monetary Policy under Sectoral Heterogeneity in Inflation Persistence (Sektorel Enflasyon Ataleti Farkliligi Altinda Optimal Para Politikasi)," Working Papers 1004, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.

  15. Duarte, Margarida & Wolman, Alexander L., 2008. "Fiscal policy and regional inflation in a currency union," Journal of International Economics, Elsevier, vol. 74(2), pages 384-401, March.
    See citations under working paper version above.
  16. John, A.Andrew & Wolman, Alexander L., 2008. "Steady-state equilibrium with state-dependent pricing," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 383-405, March.

    Cited by:

    1. Huw David Dixon, 2009. "A unified framework for understanding and comparing dynamic wage and price-setting models," Working papers 257, Banque de France.
    2. Plantin, Guillaume, 2023. "Asset bubbles and inflation as competing monetary phenomena," Journal of Economic Theory, Elsevier, vol. 212(C).
    3. Takahashi, Shuhei, 2021. "The uniqueness of steady-state equilibrium under state-dependent pricing: The case of deflation," Economics Letters, Elsevier, vol. 209(C).
    4. Dixon Huw, 2012. "A Unified Framework for Using Micro-Data to Compare Dynamic Time-Dependent Price-Setting Models," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-45, July.
    5. Michael Dotsey & Robert G. King & Alexander L. Wolman, 2013. "Inflation and real activity with firm-level productivity shocks," Working Papers 13-35, Federal Reserve Bank of Philadelphia.
    6. König, Philipp J. & Meyer-Gohde, Alexander, 2017. "Decoupling nominal and real rigidities," Economics Letters, Elsevier, vol. 156(C), pages 129-132.
    7. Kevin XD Huang & Nam T Vu, 2019. "Rare but Long-lasting Liquidity Traps and Fiscal Stimulus," Vanderbilt University Department of Economics Working Papers 19-00014, Vanderbilt University Department of Economics.
    8. Timo Henckel & Gordon D. Menzies & Daniel J. Zizzo, 2010. "Threshold Pricing in a Noisy World," CAMA Working Papers 2010-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.

  17. Alexander L. Wolman, 2006. "Bond price premiums," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 92(Fall), pages 317-336.

    Cited by:

    1. Abhyankar, Abhay & Klinkowska, Olga & Lee, Soyeon, 2015. "Consumption risk and the cross-section of government bond returns," Journal of Empirical Finance, Elsevier, vol. 32(C), pages 180-200.

  18. Andreas Hornstein & Alexander L. Wolman, 2005. "Trend inflation, firm-specific capital, and sticky prices," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Fall), pages 57-83.

    Cited by:

    1. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy.
    2. Ascari, Guido & Castelnuovo, Efrem & Rossi, Lorenza, 2011. "Calvo vs. Rotemberg in a trend inflation world: An empirical investigation," Journal of Economic Dynamics and Control, Elsevier, vol. 35(11), pages 1852-1867.
    3. Olivier Coibion & Yuriy Gorodnichenko, 2010. "Monetary Policy, Trend Inflation and the Great Moderation:An Alternative Interpretation," Working Papers 94, Economics Department, William & Mary.
    4. Michele Loberto & Chiara Perricone, 2015. "Does trend inflation make a difference?," Temi di discussione (Economic working papers) 1033, Bank of Italy, Economic Research and International Relations Area.
    5. Robert Amano & Kevin Moran & Stephen Murchison & Andrew Rennison, 2007. "Trend Inflation, Wage and Price Rigidities, and Welfare," Cahiers de recherche 0720, CIRPEE.
    6. Olmos, Lorena & Sanso Frago, Marcos, 2014. "Monetary policy and growth with trend inflation and financial frictions," MPRA Paper 54606, University Library of Munich, Germany.
    7. Olivier Coibion & Yuriy Gorodnichenko, 2008. "Strategic Interaction Among Heterogeneous Price-Setters In An Estimated DSGE Model," NBER Working Papers 14323, National Bureau of Economic Research, Inc.
    8. Jonathan Benchimol & Irfan Qureshi, 2020. "Time-varying money demand and real balance effects," Post-Print hal-02876657, HAL.
    9. Huang, Kevin X.D. & Meng, Qinglai, 2007. "Capital and macroeconomic instability in a discrete-time model with forward-looking interest rate rules," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2802-2826, August.
    10. Yasuo Hirose & Takushi Kurozumi & Willem Van Zandweghe, 2020. "Monetary Policy and Macroeconomic Stability Revisited," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 255-274, July.
    11. Jonas E. Arias & Guido Ascari & Nicola Branzoli & Efrem Castelnuovo, 2018. "Positive Trend Inflation and Determinacy in a Medium-Sized New Keynesian Model," CESifo Working Paper Series 7122, CESifo.
    12. Gbaguidi, David Sedo, 2011. "Expectations Impact on the Effectiveness of the Inflation-Real Activity Trade-Off," MPRA Paper 35482, University Library of Munich, Germany.
    13. Guido Ascari & Argia M. Sbordone, 2014. "The Macroeconomics of Trend Inflation," Journal of Economic Literature, American Economic Association, vol. 52(3), pages 679-739, September.
    14. Amano, Robert & Moran, Kevin & Murchison, Stephen & Rennison, Andrew, 2009. "Trend inflation, wage and price rigidities, and productivity growth," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 353-364, April.
    15. Gbaguidi, David Sedo, 2011. "Regime Switching in a New Keynesian Phillips Curve with Non-zero Steady-state Inflation Rate," MPRA Paper 35481, University Library of Munich, Germany.
    16. Takushi Kurozumi & Willem Van Zandweghe, 2016. "Kinked Demand Curves, the Natural Rate Hypothesis, and Macroeconomic Stability," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 240-257, April.
    17. Kurozumi, Takushi & Van Zandweghe, Willem, 2017. "Trend Inflation And Equilibrium Stability: Firm-Specific Versus Homogeneous Labor," Macroeconomic Dynamics, Cambridge University Press, vol. 21(4), pages 947-981, June.
    18. Madalina-Gabriela ANGHEL & Constantin Anghelache & Tudor SAMSON & Radu STOICA, 2016. "Analysis of index prices of population consumption reveals a moderation through fiscal measures," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(12), pages 148-156, December.
    19. 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.
    20. Ascari, Guido & Phaneuf, Louis & Sims, Eric R., 2018. "On the welfare and cyclical implications of moderate trend inflation," Journal of Monetary Economics, Elsevier, vol. 99(C), pages 56-71.
    21. Sveen, Tommy & Weinke, Lutz, 2013. "The Taylor principle in a medium-scale macroeconomic model," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 3034-3043.
    22. Sveen, Tommy & Weinke, Lutz, 2007. "Firm-specific capital, nominal rigidities, and the Taylor principle," Journal of Economic Theory, Elsevier, vol. 136(1), pages 729-737, September.
    23. Garín, Julio & Lester, Robert & Sims, Eric, 2016. "On the desirability of nominal GDP targeting," Journal of Economic Dynamics and Control, Elsevier, vol. 69(C), pages 21-44.

  19. Fan Ding & Alexander L. Wolman, 2005. "Inflation and changing expenditure shares," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Win), pages 1-20.

    Cited by:

    1. Alexander L. Wolman, 2011. "The Optimal Rate of Inflation with Trending Relative Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(2‐3), pages 355-384, March.
    2. John O’Trakoun, 2023. "An alternative measure of core inflation: the Trimmed Persistence PCE price index," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 58(4), pages 205-223, October.

  20. Wolman, Alexander L, 2005. "Real Implications of the Zero Bound on Nominal Interest Rates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(2), pages 273-296, April.
    See citations under working paper version above.
  21. Elise A. Couper & John P. Hejkal & Alexander L. Wolman, 2003. "Boom and bust in telecommunications," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 89(Fall), pages 1-24.

    Cited by:

    1. Russell, Bonita I. & Shapiro, Daniel & Vining, Aidan R., 2010. "The evolution of the Canadian mining industry: The role of regulatory punctuation," Resources Policy, Elsevier, vol. 35(2), pages 90-97, June.
    2. John R. Walter, 2005. "Depression era bank failures : the great contagion of the great shakedown?," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Win), pages 39-54.
    3. Ellen R. McGrattan & Eduard C. Prescott, 2006. "Why Did U.S. Market Hours Boom in the 1990s?," 2006 Meeting Papers 192, Society for Economic Dynamics.
    4. Lilia Karnizova, 2012. "News Shocks, Productivity and the U.S. Investment Boom-Bust Cycle," Working Papers 1201E, University of Ottawa, Department of Economics.
    5. E. James Cowan & Karen C. Denning & Anne Anderson & Xiaohui Yang, 2018. "Divergent Market Responses to Human Capital Reorganizations," Business and Economic Research, Macrothink Institute, vol. 8(1), pages 212-243, March.
    6. Ellen R. McGrattan & Edward C. Prescott, 2007. "Unmeasured Investment and the Puzzling U.S. Boom in the 1990s," NBER Working Papers 13499, National Bureau of Economic Research, Inc.

  22. Robert G. King & Alexander L. Wolman, 2003. "Monetary discretion, pricing complementarity and dynamic multiple equilibria," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    See citations under working paper version above.
  23. Elise A. Couper & Alexander L. Wolman, 2003. "Potential consequences of linear approximation in economics," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 89(Win), pages 51-67.

    Cited by:

    1. Federica Isola & Sabrina Lai & Federica Leone & Corrado Zoppi, 2023. "Land Take and Landslide Hazard: Spatial Assessment and Policy Implications from a Study Concerning Sardinia," Land, MDPI, vol. 12(2), pages 1-23, January.
    2. Pichler Paul, 2008. "Forecasting with DSGE Models: The Role of Nonlinearities," The B.E. Journal of Macroeconomics, De Gruyter, vol. 8(1), pages 1-35, July.
    3. Federica Isola & Sabrina Lai & Federica Leone & Corrado Zoppi, 2024. "Urban Green Infrastructure and Ecosystem Service Supply: A Study Concerning the Functional Urban Area of Cagliari, Italy," Sustainability, MDPI, vol. 16(19), pages 1-37, October.
    4. Federica Isola & Sabrina Lai & Federica Leone & Corrado Zoppi, 2022. "Strengthening a Regional Green Infrastructure through Improved Multifunctionality and Connectedness: Policy Suggestions from Sardinia, Italy," Sustainability, MDPI, vol. 14(15), pages 1-22, August.
    5. Nika Lazaryan & Thomas A. Lubik, 2019. "Global dynamics in a search and matching model of the labor market," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 68(2), pages 461-497, September.
    6. Sabrina Lai & Federica Leone & Corrado Zoppi, 2019. "Assessment of Municipal Masterplans Aimed at Identifying and Fostering Green Infrastructure: A Study Concerning Three Towns of the Metropolitan Area of Cagliari, Italy," Sustainability, MDPI, vol. 11(5), pages 1-17, March.
    7. Mário Amorim Lopes & Fernando A. C. C. Fontes & Dalila A. C. C. Fontes, 2013. "Optimal Control of Infinite-Horizon Growth Models — A direct approach," FEP Working Papers 506, Universidade do Porto, Faculdade de Economia do Porto.
    8. Sabrina Lai & Federica Leone & Corrado Zoppi, 2020. "Spatial Distribution of Surface Temperature and Land Cover: A Study Concerning Sardinia, Italy," Sustainability, MDPI, vol. 12(8), pages 1-20, April.
    9. Federica Isola & Federica Leone & Corrado Zoppi, 2022. "Mapping of Ecological Corridors as Connections between Protected Areas: A Study Concerning Sardinia, Italy," Sustainability, MDPI, vol. 14(11), pages 1-31, May.

  24. Aubhik Khan & Robert G. King & Alexander L. Wolman, 2003. "Optimal Monetary Policy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(4), pages 825-860.
    See citations under working paper version above.
  25. Alexander L. Wolman, 2001. "A primer on optimal monetary policy with staggered price-setting," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 27-52.

    Cited by:

    1. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    2. Paustian, Matthias & Stoltenberg, Christian, 2008. "Optimal interest rate stabilization in a basic sticky-price model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3166-3191, October.
    3. Auerbach, Alan J. & Obstfeld, Maurice, 2012. "The Case for Open-Market Purchases in a Liquidity Trap," Department of Economics, Working Paper Series qt84s7d8c8, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    4. David M. Arseneau, 2004. "Optimal inflation in an open economy with imperfect competition," Finance and Economics Discussion Series 2004-25, Board of Governors of the Federal Reserve System (U.S.).
    5. Timothy Hills & Taisuke Nakata & Takeki Sunakawa, 2020. "A Promised Value Approach to Optimal Monetary Policy," CARF F-Series CARF-F-481, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    6. S. Boragan Aruoba & Frank Schorfheide, 2009. "Sticky prices versus monetary frictions: an estimation of policy trade-offs," Working Papers 09-8, Federal Reserve Bank of Philadelphia.
    7. Robert Amano & Steve Ambler & Nooman Rebei, 2006. "The Macroeconomic Effects of Non-Zero Trend Inflation," Staff Working Papers 06-34, Bank of Canada.
    8. Robert Amano & Kevin Moran & Stephen Murchison & Andrew Rennison, 2007. "Trend Inflation, Wage and Price Rigidities, and Welfare," Cahiers de recherche 0720, CIRPEE.
    9. Gregory de Walque & Frank Smets & Raf Wouters, 2006. "Firm-specific production factors in a DSGE model with Taylor price setting," Working Paper Research 85, National Bank of Belgium.
    10. Amano, Robert & Moran, Kevin & Murchison, Stephen & Rennison, Andrew, 2009. "Trend inflation, wage and price rigidities, and productivity growth," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 353-364, April.
    11. Zhang, Fang, 2014. "Monetary policy for rationally inattentive economies with staggered price setting," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 184-208.
    12. Christian Jensen & Bennett T. Mccallum, 2010. "Optimal Continuation versus the Timeless Perspective in Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1093-1107, September.
    13. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    14. Michael Dotsey & Andreas Hornstein, 2007. "Interest rate versus money supply instruments: on the implementation of Markov-perfect optimal monetary policy," Working Papers 07-27, Federal Reserve Bank of Philadelphia.
    15. David M. Arseneau, 2004. "Optimal Inflation in an Open Economy," Econometric Society 2004 North American Summer Meetings 279, Econometric Society.
    16. Mr. Luca A Ricci & Pierpaolo Benigno, 2009. "The Inflation-Unemployment Trade-off at Low Inflation," IMF Working Papers 2009/034, International Monetary Fund.

  26. Alexander L. Wolman, 2000. "The frequency and costs of individual price adjustments," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 1-22.

    Cited by:

    1. Richard Mash, 2004. "Optimising microfoundations for observed inflation persistence," Money Macro and Finance (MMF) Research Group Conference 2003 60, Money Macro and Finance Research Group.
    2. Silvia Fabiani & Angela Gattulli & Giovanni Veronese & Roberto Sabbatini, 2010. "Price adjustment in Italy: evidence from micro producer and consumer prices," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(2-3), pages 93-104.
    3. Levy, Daniel & Lee, Dongwon & Chen, Haipeng (Allan) & Kauffman, Robert & Bergen, Mark, 2007. "Price Points and Price Rigidity," MPRA Paper 1472, University Library of Munich, Germany.
    4. 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.
    5. Snir, Avichai & Levy, Daniel & Gotler, Alex & Chen, Haipeng (Allan), 2014. "Not All Price Endings Are Created Equal: Price Points and Asymmetric Price Rigidity," EconStor Preprints 104540, ZBW - Leibniz Information Centre for Economics.
    6. Richards, Timothy J. & Patterson, Paul M., 2004. "Causes of retail price fixity: an empirical analysis," Journal of Economics and Business, Elsevier, vol. 56(2), pages 117-136.
    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. Daniel Levy & Haipeng (Allan) Chen & Georg Müller & Shantanu Dutta & Mark Bergen, 2010. "Holiday Price Rigidity and Cost of Price Adjustment," Economica, London School of Economics and Political Science, vol. 77(305), pages 172-198, January.
    9. Michael Dotsey & Robert G. King, 2005. "Implications of State Dependent-Pricing for Dynamic Macroeconomic Models," Boston University - Department of Economics - Macroeconomics Working Papers Series WP2005-002, Boston University - Department of Economics.
    10. André Kurmann, 2004. "Maximum Likelihood Estimation of Dynamic Stochastic Theories with an Application to New Keynesian Pricing," Macroeconomics 0409028, University Library of Munich, Germany.
    11. Richard Mash, 2006. "Optimising Microfoundations for Inflation Persistence," Computing in Economics and Finance 2006 457, Society for Computational Economics.
    12. Andrew T. Young & Alexander K. Blue, 2007. "Retail prices during a change in monetary regimes: evidence from Sears, Roebuck catalogs, 1938-1951," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(7), pages 763-775.
    13. Andrew T Young & Daniel Levy, 2014. "Explicit Evidence of an Implicit Contract," Post-Print hal-02387739, HAL.
    14. Jonathan L. Willis, 2003. "Implications of structural changes in the U.S. economy for pricing behavior and inflation dynamics," Economic Review, Federal Reserve Bank of Kansas City, vol. 88(Q I), pages 5-27.
    15. Wilko Letterie & Øivind A. Nilsen, 2022. "Pricing Behaviour and Menu Costs in Multi‐product Firms," Economica, London School of Economics and Political Science, vol. 89(355), pages 746-769, July.
    16. Daniel de Munnik & Kuan Xu, 2007. "Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms," Staff Working Papers 07-31, Bank of Canada.
    17. Levy, Daniel & Young, Andrew T., 2019. "Promise, Trust and Betrayal: Costs of Breaching an Implicit Contract," EconStor Preprints 197001, ZBW - Leibniz Information Centre for Economics.
    18. Daniel Levy & Frank Smets, 2010. "Price setting and price adjustment in some European Union Countries: introduction to the special issue," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(2-3), pages 63-66.
    19. Jens-Peter Loy & Dieter Pennerstorfer & Daniela Rroshi & Christoph Weiss & Biliana Yontcheva, 2019. "Consumer Information and Price Transmission: Empirical Evidence," Economics working papers 2019-20, Department of Economics, Johannes Kepler University Linz, Austria.
    20. Zakaria Babutsidze, 2012. "Asymmetric (S,s) pricing: implications for monetary policy," Post-Print hal-01053560, HAL.
    21. Daniel Levy, 2007. "Price rigidity and flexibility: recent theoretical developments," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(6), pages 523-530.
    22. Rumler, Fabio & Konieczny, Jerzy (Jurek) D., 2006. "Regular adjustment: theory and evidence," Working Paper Series 669, European Central Bank.
    23. Laurent Baudry & Hervé Le Bihan & Patrick Sevestre & Sylvie Tarrieu, 2004. "Price Rigidity. Evidence from the French CPI Macro-Data," Working papers 113, Banque de France.
    24. Sayag, Doron & Snir, Avichai & Levy, Daniel, 2024. "Small Price Changes, Sales Volume, and Menu Cost," MPRA Paper 120419, University Library of Munich, Germany.
    25. Ray, Sourav & Snir, Avichai & Levy, Daniel, 2023. "Retail pricing format and rigidity of regular prices," MPRA Paper 117784, University Library of Munich, Germany, revised 29 Apr 2023.
    26. Peter J. Klenow & Benjamin A. Malin, 2010. "Microeconomic Evidence on Price-Setting," NBER Working Papers 15826, National Bureau of Economic Research, Inc.
    27. Rafal Raciborski, 2008. "Searching for additional sources of inflation persistence : the micro-price panel data approach," Working Paper Research 132, National Bank of Belgium.
    28. Levy, Daniel & Snir, Avichai, 2018. "Here Lives a Wealthy Man: Price Rigidity and Predictability in Luxury Housing Markets," MPRA Paper 85264, University Library of Munich, Germany.
    29. Pirschel, Inske & Ahrens, Steffen & Snower, Dennis, 2013. "A Theory of Price Adjustment under Loss Aversion," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79793, Verein für Socialpolitik / German Economic Association.
    30. Richard Mash, 2003. "New Keynesian Microfoundations Revisited: A Calvo-Taylor-Rule-of-Thumb Model and Optimal Monetary Policy Delegation," Economics Series Working Papers 174, University of Oxford, Department of Economics.
    31. Watanabe Watanabe, Makoto, 2006. "Inflation, price competition and consumer search technology," UC3M Working papers. Economics we065623, Universidad Carlos III de Madrid. Departamento de Economía.
    32. 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.
    33. Hasan Bakhshi & Hashmat Khan & Barbara Rudolf, 2004. "The Phillips curve under state-dependent pricing," Bank of England working papers 227, Bank of England.
    34. Jones, Steven L. & Yeoman, John C., 2009. "The promoter's role in ticket pricing: Implications of real options for optimal posted prices and rationing," Journal of Business Research, Elsevier, vol. 62(11), pages 1187-1192, November.
    35. Levy, Daniel & Smets, Frank, 2010. "Price Setting and Price Adjustment in Some European Union Countries," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 31(2‐3 (Spec), pages 63-66.
    36. Weber, Sascha A., "undated". "Ausmaß und Determinanten von Preisrigiditäten im deutschen Lebensmitteleinzelhandel - Eine emprische Analyse mit Scannerdaten," Theses 94613, University of Giessen, Institute of Agricultural Policy and Market Research.
    37. Joshua Sherman & Avi Weiss, 2012. "Price Response, Asymmetric Information, and Competition," Working Papers 2012-13, Bar-Ilan University, Department of Economics.
    38. Richard Mash, 2005. "Simple Pricing Rules, the Phillips Curve and the Microfoundations of Inflation Persistence," Computing in Economics and Finance 2005 427, Society for Computational Economics.
    39. Timo Henckel & Gordon D. Menzies & Daniel J. Zizzo, 2010. "Threshold Pricing in a Noisy World," CAMA Working Papers 2010-01, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    40. Silvia Fabiani & Angela Gattulli & Roberto Sabbatini & Giovanni Veronese, 2006. "Consumer Price Setting in Italy," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 65(1), pages 31-74, May.
    41. Kurmann, Andre, 2007. "VAR-based estimation of Euler equations with an application to New Keynesian pricing," Journal of Economic Dynamics and Control, Elsevier, vol. 31(3), pages 767-796, March.
    42. Jerzy D. Konieczny, 2007. "Costly price adjustment and the optimal rate of inflation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(6), pages 591-603.
    43. Andreas Hornstein & Alexander L. Wolman, 2005. "Trend inflation, firm-specific capital, and sticky prices," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Fall), pages 57-83.
    44. Erwan Gautier, 2008. "Les ajustements micro conomiques des prix : une synth se des mod les Théoriques et résultats empiriques," Working papers 211, Banque de France.
    45. Alexander L. Wolman, 2007. "The frequency and costs of individual price adjustment," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(6), pages 531-552.
    46. Jackson, William A., 2024. "The Ethics of Price Variation," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 53(2), pages 201-215.

  27. Alexander L. Wolman, 1999. "Sticky prices, marginal cost, and the behavior of inflation," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 29-48.

    Cited by:

    1. Salman Ahmad & Attiya Yasmin Javid, 2015. "Analysing the Price Cost Markup and Its Behaviour over the Business Cycles in Case of Manufacturing Industries of Pakistan," PIDE-Working Papers 2015:117, Pakistan Institute of Development Economics.
    2. Jonker, Nicole & Folkertsma, Carsten & Blijenberg, Harry, 2004. "An empirical analysis of price setting behaviour in the Netherlands in the period 1998-2003 using micro data," Working Paper Series 413, European Central Bank.
    3. Huw David Dixon, 2009. "A unified framework for understanding and comparing dynamic wage and price-setting models," Working papers 257, Banque de France.
    4. Yao, Fang, 2016. "A Note On Increasing Hazard Functions And The Monetary Transmission Mechanism," Macroeconomic Dynamics, Cambridge University Press, vol. 20(1), pages 446-459, January.
    5. Dixon, Huw David & Kara, Engin, 2007. "Persistence and Nominal Inertia in a Generalized Taylor Economy: How Longer Contracts Dominate Shorter Contracts," Cardiff Economics Working Papers E2007/1, Cardiff University, Cardiff Business School, Economics Section.
    6. Carvalho, Carlos & Schwartzman, Felipe, 2015. "Selection and monetary non-neutrality in time-dependent pricing models," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 141-156.
    7. Guse, E., 2005. "Learning in a Misspecified Multivariate Self-referential Linear Stochastic Model," Cambridge Working Papers in Economics 0548, Faculty of Economics, University of Cambridge.
    8. Richard Mash, 2004. "Optimising microfoundations for observed inflation persistence," Money Macro and Finance (MMF) Research Group Conference 2003 60, Money Macro and Finance Research Group.
    9. Gagnon, Edith & Khan, Hashmat, 2005. "New Phillips curve under alternative production technologies for Canada, the United States, and the Euro area," European Economic Review, Elsevier, vol. 49(6), pages 1571-1602, August.
    10. Jean-Philippe Laforte, 2007. "Pricing Models: A Bayesian DSGE Approach for the U.S. Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 127-154, February.
    11. Carl R. Gwin & David D. Van Hoose, 2008. "Disaggregate Evidence On Price Stickiness And Implications For Macro Models," Economic Inquiry, Western Economic Association International, vol. 46(4), pages 561-575, October.
    12. Michael Woodford, 2007. "Interpreting Inflation Persistence: Comments on the Conference on "Quantitative Evidence on Price Determination"," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 203-210, February.
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    1. Anton Nakov, 2008. "Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 73-127, June.
    2. Paweł Marszałek, 2006. "Trudności koordynacji polityki pieniężnej i polityki fiskalnej we współczesnej gospodarce," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 57-75.
    3. Tony Yates, 2004. "Monetary Policy and the Zero Bound to Interest Rates: A Review1," Journal of Economic Surveys, Wiley Blackwell, vol. 18(3), pages 427-481, July.
    4. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    5. Bennett T. McCallum, 2000. "Theoretical analysis regarding a zero lower bound on nominal interest rates," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, pages 870-935.
    6. Francesco Bianchi & Leonardo Melosi, 2013. "Escaping the Great Recession," Working Papers 13-19, Duke University, Department of Economics.
    7. C. Alan Garner, 1999. "Progress toward price stability : a 1998 inflation report," Economic Review, Federal Reserve Bank of Kansas City, vol. 84(Q I), pages 5-20.
    8. Lars E.O. Svensson, 1999. "Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability," NBER Working Papers 7276, National Bureau of Economic Research, Inc.
    9. Viñals, José, 2001. "Monetary Policy Issues in a Low Inflation Environment," CEPR Discussion Papers 2945, C.E.P.R. Discussion Papers.
    10. Fernández-Villaverde, Jesús & Gordon, Grey & Guerrón-Quintana, Pablo & Rubio-Ramírez, Juan F., 2015. "Nonlinear adventures at the zero lower bound," Journal of Economic Dynamics and Control, Elsevier, vol. 57(C), pages 182-204.
    11. Bennett T. McCallum, 2005. "A Monetary Policy Rule for Automatic Prevention of a Liquidity Trap," NBER Working Papers 11056, National Bureau of Economic Research, Inc.
    12. Marvin Goodfriend, 2000. "Overcoming the zero bound on interest rate policy," Working Paper 00-03, Federal Reserve Bank of Richmond.
    13. Hills, Timothy S. & Nakata, Taisuke & Schmidt, Sebastian, 2019. "Effective lower bound risk," European Economic Review, Elsevier, vol. 120(C).
    14. Athanasios Orphanides & Volker W. Wieland, 1999. "Efficient monetary policy design near price stability," Finance and Economics Discussion Series 1999-67, Board of Governors of the Federal Reserve System (U.S.).
    15. Claude Lavoie & Hope Pioro, 2007. "The Zero Bound on Nominal Interest Rates: Implications for the Optimal Monetary Policy in Canada," Discussion Papers 07-1, Bank of Canada.
    16. Michael Dotsey, 2010. "Monetary policy in a liquidity trap," Business Review, Federal Reserve Bank of Philadelphia, issue Q2, pages 9-15.
    17. Levin, Andrew & López-Salido, J David & Nelson, Edward & Yun, Tack, 2009. "Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound," CEPR Discussion Papers 7581, C.E.P.R. Discussion Papers.
    18. Borio, Claudio & Filardo, Andrew J., 2004. "Looking back at the international deflation record," The North American Journal of Economics and Finance, Elsevier, vol. 15(3), pages 287-311, December.
    19. Shigeru Iwata, 2010. "Monetary Policy and the Term Structure of Interest Rates When Short-Term Rates Are Close to Zero," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 28, pages 59-78, November.
    20. Michael T. Kiley, 2018. "Quantitative Easing and the “New Normal” in Monetary Policy," Finance and Economics Discussion Series 2018-004, Board of Governors of the Federal Reserve System (U.S.).
    21. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
    22. Athanasios Orphanides, 2004. "Monetary policy in deflation: the liquidity trap in history and practice," Finance and Economics Discussion Series 2004-01, Board of Governors of the Federal Reserve System (U.S.).
    23. Andrew Filardo & Claudio E. V. Borio, 2004. "Back to the future? Assessing the deflation record," BIS Working Papers 152, Bank for International Settlements.
    24. Buiter, Willem H., 2003. "Overcoming the zero bound on nominal interest rates with negative interest on currency : Gesell's solution," LSE Research Online Documents on Economics 848, London School of Economics and Political Science, LSE Library.
    25. Marszałek, Paweł, . "Trudności koordynacji polityki pieniężnej i polityki fiskalnej we współczesnej gospodarce," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2006(9).
    26. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Finance and Economics Discussion Series 2017-080, Board of Governors of the Federal Reserve System (U.S.).
    27. Jung, Taehun & Teranishi, Yuki & Watanabe, Tsutomu, 2005. "Optimal Monetary Policy at the Zero-Interest-Rate Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(5), pages 813-835, October.
    28. Corrado, L. & Holly, S., 2000. "Piecewise Linear Feedback Rules in a Non Linear Model of the Phillips Curve: Evidence from the US and the UK," Cambridge Working Papers in Economics 0019, Faculty of Economics, University of Cambridge.
    29. Iwata, Shigeru & Wu, Shu, 2006. "Estimating monetary policy effects when interest rates are close to zero," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1395-1408, October.
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    31. Guido Ascari & Argia M. Sbordone, 2013. "The Macroeconomics of Trend Inflation," DEM Working Papers Series 053, University of Pavia, Department of Economics and Management.
    32. Volker Wieland (Goethe University Frankfurt) & Günter Coenen (European Central Bank), 2004. "Exchange Rate Policy and the Zero Bound on Nominal Interest Rates," Computing in Economics and Finance 2004 65, Society for Computational Economics.
    33. Uhlig, Harald, 2000. "Should We Be Afraid of Friedman's Rule?," Journal of the Japanese and International Economies, Elsevier, vol. 14(4), pages 261-303, December.
    34. Leonardo Melosi & Francesco Bianchi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," 2017 Meeting Papers 110, Society for Economic Dynamics.
    35. RUGE-MURCIA, Francisco J., 2002. "Some Implications of the Zero Lower Bound on Interest Rates for the Term Structure and Monetary Policy," Cahiers de recherche 2002-06, Universite de Montreal, Departement de sciences economiques.
    36. Gauti B. Eggertsson & Sergei K. Egiev, 2025. "Liquidity Traps: A Unified Theory of the Great Depression and the Great Recession," Journal of Economic Literature, American Economic Association, vol. 63(4), pages 1424-1551, December.
    37. Buiter, Willem, 2001. "The Liquidity Trap in an Open Economy," CEPR Discussion Papers 2923, C.E.P.R. Discussion Papers.
    38. Bennett T. McCallum, 2001. "Inflation targeting and the liquidity trap," Proceedings, Federal Reserve Bank of San Francisco, issue mar.
    39. Schmidt, Sebastian & Nakata, Taisuke & Hills, Timothy, 2016. "The risky steady state and the interest rate lower bound," Working Paper Series 1913, European Central Bank.
    40. Ragna Alstadheim, 2010. "The zero lower bound on the interest rate and a Neo-Classical Phillips curve," Working Paper 2010/13, Norges Bank.
    41. Iwata, Shigeru & Wu, Shu, 2012. "A Note On Foreign Exchange Interventions At Zero Interest Rates," Macroeconomic Dynamics, Cambridge University Press, vol. 16(5), pages 802-817, November.
    42. Bilbiie, Florin, 2018. "Neo-Fisherian Policies and Liquidity Traps," CEPR Discussion Papers 13334, C.E.P.R. Discussion Papers.
    43. Karel R. S. M. Mertens & Morten O. Ravn, 2014. "Fiscal Policy in an Expectations-Driven Liquidity Trap," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(4), pages 1637-1667.
    44. Alexander L. Wolman, 2003. "Real implications of the zero bound on nominal interest rates," Working Paper 03-15, Federal Reserve Bank of Richmond.

  30. Alexander L. Wolman, 1997. "Zero inflation and the Friedman rule: a welfare comparison," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 1-21.

    Cited by:

    1. Tsutomu Watanabe & Tomoyoshi Yabu, 2019. "How Large is the Demand for Money at the ZLB? Evidence from Japan," CARF F-Series CARF-F-465, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    2. Robert L. Hetzel, 2005. "What difference would inflation make?," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 91(Spr), pages 45-72.
    3. Tsutomu Watanabe & Tomoyoshi Yabu, 2018. "The Demand for Money at the Zero Interest Rate Bound," CARF F-Series CARF-F-444, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    4. Takeshi Kimura & Hiroshi Kobayashi & Jun Muranaga & Hiroshi Ugai, 2003. "The effect of the increase in the monetary base of Japan's economy at zero interest rates: an empirical analysis," BIS Papers chapters, in: Bank for International Settlements (ed.), Monetary policy in a changing environment, volume 19, pages 276-312, Bank for International Settlements.
    5. Robert L. Hetzel, 1999. "Japanese monetary policy: a quantity theory perspective," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 1-26.
    6. Nicoletta Batini & Anthony Yates, 2001. "Hybrid inflation and price level targeting," Bank of England working papers 135, Bank of England.
    7. Alexander L. Wolman, 1998. "Staggered price setting and the zero bound on nominal interest rates," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 1-24.
    8. Al-Jarhi, Mabid, 2016. "An economic theory of Islamic finance," MPRA Paper 72698, University Library of Munich, Germany.
    9. Martha L�pez, 2006. "Algunos Criterios Para Evaluar Una Meta De Inflaci�N De Largo Plazo," Borradores de Economia 1967, Banco de la Republica.
    10. Maxime Menuet & Alexandru Minea & Patrick Villieu, 2018. "Deficit, monetization, and economic growth: a case for multiplicity and indeterminacy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 819-853, June.
    11. Klaeffling, Matt & López Pérez, Víctor, 2003. "Inflation targets and the liquidity trap," Working Paper Series 272, European Central Bank.
    12. Aoki, Kosuke, 2001. "Optimal monetary policy responses to relative-price changes," Journal of Monetary Economics, Elsevier, vol. 48(1), pages 55-80, August.
    13. Marvin Goodfriend, 1997. "Monetary policy comes of age: a 20th century odyssey," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 1-22.
    14. Faugere, Christophe, 2010. "Macrofoundations for A (Near) 2% Inflation Target," MPRA Paper 23491, University Library of Munich, Germany, revised 25 Jun 2010.
    15. David Amirault & Brian O'Reilly, 2001. "The Zero Bound on Nominal Interest Rates: How Important Is It?," Staff Working Papers 01-6, Bank of Canada.
    16. Robert L. Hetzel, 2006. "Making the systematic part of monetary policy transparent," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 92(Sum), pages 255-290.
    17. Inoue, Tetsuya, 1998. "Impact of Information Technology and Implications for Monetary Policy," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 16(2), pages 29-60, December.
    18. Casares, Miguel, 2002. "Price setting and the steady-state effects of inflation," Working Paper Series 140, European Central Bank.
    19. Scheide, Joachim, 1998. "Central banks: No reason to ignore money," Kiel Discussion Papers 316, Kiel Institute for the World Economy.
    20. Hasan Bakhshi & Ben Martin & Tony Yates, 2002. "How uncertain are the welfare costs of inflation?," Bank of England working papers 152, Bank of England.
    21. Martha López, 2006. "Algunos criterios para evaluar una meta de inflación de largo plazo," Borradores de Economia 386, Banco de la Republica de Colombia.
    22. Alexander L. Wolman, 2003. "Real implications of the zero bound on nominal interest rates," Working Paper 03-15, Federal Reserve Bank of Richmond.

  31. Robert G. King & Alexander L. Wolman, 1996. "Inflation targeting in a St. Louis model of the 21st century," Proceedings, Federal Reserve Bank of St. Louis, vol. 78(May), pages 83-107.
    See citations under working paper version above.

Chapters

  1. Robert King & Alexander L. Wolman, 1999. "What Should the Monetary Authority Do When Prices Are Sticky?," NBER Chapters, in: Monetary Policy Rules, pages 349-404, National Bureau of Economic Research, Inc.

    Cited by:

    1. Levin, Andrew T. & Williams, John C., 2003. "Robust monetary policy with competing reference models," Journal of Monetary Economics, Elsevier, vol. 50(5), pages 945-975, July.
    2. Lynne Evans & Anamaria Nicolae, 2010. "The Output Effect of a Transition to Price Stability When Velocity Is Time Varying," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 859-878, August.
    3. Levin, Andrew T., 2002. "Comment on: Monetary policy rules in the open economy: effects on welfare and business cycles," Journal of Monetary Economics, Elsevier, vol. 49(5), pages 1017-1023, July.
    4. Robert L. Hetzel, 2000. "The Taylor rule : is it a useful guide to understanding monetary policy?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Spr, pages 1-33.
    5. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    6. Jensen Christian, 2020. "Discretion rather than rules? Outdated optimal commitment plans versus discretionary policymaking," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-9, January.
    7. Canova, Fabio, 2002. "Validating Monetary DSGE Models through VARs," CEPR Discussion Papers 3442, C.E.P.R. Discussion Papers.
    8. Mr. Tamim Bayoumi & Ms. Silvia Sgherri, 2004. "Deconstructing the Art of Central Banking," IMF Working Papers 2004/195, International Monetary Fund.
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