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Johannes Wieland

Citations

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

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2012. "The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(4), pages 1371-1406.

    Mentioned in:

    1. Is it possible to raise the inflation target?
      by Mainly Macro in Mainly Macro on 2013-08-06 15:17:00
  2. Gabriel Chodorow-Reich & Johannes Wieland, 2017. "Secular Labor Reallocation and Business Cycles," Working Paper 313261, Harvard University OpenScholar.

    Mentioned in:

    1. Secular Labor Reallocation and Business Cycles
      by Christian Zimmermann in NEP-DGE blog on 2015-09-18 19:13:55

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Joshua K. Hausman & Paul W. Rhode & Johannes F. Wieland, 2019. "Recovery from the Great Depression: The Farm Channel in Spring 1933," American Economic Review, American Economic Association, vol. 109(2), pages 427-472, February.

    Mentioned in:

    1. Recovery from the Great Depression: The Farm Channel in Spring 1933 (AER 2019) in ReplicationWiki ()

Working papers

  1. Schuyler Louie & John Mondragon & Johannes F. Wieland, 2025. "Supply Constraints Do Not Explain House Price and Quantity Growth Across U.S. Cities," Working Paper Series 2025-06, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Kemeny, Tom & Connor, Dylan Shane & Suss, Joel & Xie, Siqiao & Jang, Jiwon & Gu, Zhining, 2026. "Spatial Wealth Inequality in the United States: Theory and Evidence," SocArXiv r4sg9_v1, Center for Open Science.
    2. Schuyler Louie & John Mondragon & Rami Najjar & Johannes F. Wieland, 2026. "Housing Affordability and Housing Demand," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2026(03), pages 1-5, February.

  2. Jacob Orchard & Valerie A. Ramey & Johannes Wieland, 2023. "Using Macro Counterfactuals to Assess Plausibility: An Illustration using the 2001 Rebate MPCs," NBER Working Papers 31808, National Bureau of Economic Research, Inc.

    Cited by:

    1. Panagiotis Th. Konstantinou & Andromachi Partheniou & Athanasios Tagkalakis, 2025. "A Functional Classification Analysis of Government Spending Multipliers," Open Economies Review, Springer, vol. 36(4), pages 1157-1192, September.
    2. Lennard, Jason & Paker, Meredith, 2026. "Devaluation, exports, and recovery from the Great Depression," LSE Research Online Documents on Economics 126517, London School of Economics and Political Science, LSE Library.
    3. Johannes Wieland, 2024. "Comment on "Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"," NBER Chapters, in: NBER Macroeconomics Annual 2024, volume 39, pages 358-365, National Bureau of Economic Research, Inc.

  3. Jacob Orchard & Valerie A. Ramey & Johannes F. Wieland, 2023. "Micro MPCs and Macro Counterfactuals: The Case of the 2008 Rebates," NBER Working Papers 31584, National Bureau of Economic Research, Inc.

    Cited by:

    1. Cristiano Cantore & Edoardo Leonardi, 2025. "Monetary-Fiscal Interaction and the Liquidity of Government Debt," Papers 2501.17458, arXiv.org.
    2. Davide Debortoli & Jordi Galí, 2024. "Heterogeneity and aggregate fluctuations: insights from TANK models," Economics Working Papers 1882, Department of Economics and Business, Universitat Pompeu Fabra.
    3. Thomas F. Crossley & Paul Fisher & Peter Levell & Hamish Low, 2025. "Eliciting the marginal propensity to consume in surveys," IFS Working Papers W25/25, Institute for Fiscal Studies.
    4. Clemens, Jeffrey & Hoxie, Philip G. & Veuger, Stan, 2025. "Was pandemic fiscal relief effective fiscal stimulus? Evidence from aid to state and local governments," Journal of Macroeconomics, Elsevier, vol. 86(C).
    5. Bilbiie, F. O. & Hanks, F. & Lavender, S., 2025. "Complementarity, Heterogeneity, and Multipliers: Utility for HANK," Cambridge Working Papers in Economics 2573, Faculty of Economics, University of Cambridge.
    6. Jack Dunbar & Christopher J. Kurz & Geng Li & Maria D. Tito, 2024. "In the Driver's Seat: Pandemic Fiscal Stimulus and Light Vehicles," Finance and Economics Discussion Series 2024-013, Board of Governors of the Federal Reserve System (U.S.).
    7. Jonathon Hazell & Stephan Hobler, 2024. "Do Deficits Cause Inflation? A High Frequency Narrative Approach," Discussion Papers 2439, Centre for Macroeconomics (CFM).
    8. Partsch, Emil Holst & Petrella, Ivan & Santoro, Emiliano, 2026. "Consumer durables and monetary policy according to HANK," Journal of Monetary Economics, Elsevier, vol. 157(C).
    9. Bardóczy, Bence & Sim, Jae & Tischbirek, Andreas, 2025. "The macroeconomic effects of excess savings," Journal of Monetary Economics, Elsevier, vol. 156(C).
    10. Savoia, Ettore, 2026. "Intertemporal Self-insurance and Excess Sensitivity of Affluent Households," Working Paper Series 464, Sveriges Riksbank (Central Bank of Sweden).
    11. Cho, Yunho & Kim, Jiseob & Kim, Julie, 2025. "Why old-age poverty matters: Evidence from consumption responses to income shocks," Journal of Macroeconomics, Elsevier, vol. 86(C).
    12. Johannes Wieland, 2024. "Comment on "Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"," NBER Chapters, in: NBER Macroeconomics Annual 2024, volume 39, pages 358-365, National Bureau of Economic Research, Inc.

  4. John Mondragon & Johannes F. Wieland, 2022. "Housing Demand and Remote Work," Working Paper Series 2022-11, Federal Reserve Bank of San Francisco.

    Cited by:

    1. Zheng Liu & Mollie Pepper, 2023. "Can Monetary Policy Tame Rent Inflation?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2023(04), pages 1-6, February.
    2. Howard, Greg & Liebersohn, Jack & Ozimek, Adam, 2023. "The short- and long-run effects of remote work on U.S. housing markets," Journal of Financial Economics, Elsevier, vol. 150(1), pages 166-184.
    3. Norman Guo & Wei Jiang & Yaswanth Pothuru & Baozhong Yang, 2026. "Mapping the Midweek Mountain: The New Geography of Hybrid Work," Papers 2603.18440, arXiv.org.
    4. Sandro Heiniger & Winfried Koeniger & Michael Lechner, 2022. "The Heterogeneous Response of Real Estate Asset Prices to a Global Shock," CESifo Working Paper Series 10083, CESifo.
    5. Burdett, Ashley & Etheridge, Ben & Tang, Li & Wang, Yikai, 2024. "Worker productivity during Covid-19 and adaptation to working from home," European Economic Review, Elsevier, vol. 167(C).
    6. Alan Feng & Haishi Li & Yulin Wang, 2023. "We Are All in the Same Boat: Cross-Border Spillovers of Climate Shocks through International Trade and Supply Chain," CESifo Working Paper Series 10402, CESifo.
    7. Ketter, Laura & Morris, Todd & Yu, Lizi, 2025. "A New Equilibrium: COVID-19 Lockdowns and WFH Persistence," IZA Discussion Papers 17975, IZA Network @ LISER.
    8. Jan K. Brueckner & David R. Agrawal, 2025. "Work-from-Home and Wage Convergence Across Cities: An Exploration," CESifo Working Paper Series 12150, CESifo.
    9. Alexander Bick & Adam Blandin & Karel Mertens & Hannah Rubinton, 2024. "Work from Home and Migration," Working Papers 2024-012, Federal Reserve Bank of St. Louis, revised 25 Jun 2026.
    10. Brueckner, Jan K. & Sayantani, S., 2023. "Intercity impacts of work-from-home with both remote and non-remote workers," Journal of Housing Economics, Elsevier, vol. 59(PB).
    11. Li, Wenli & Su, Yichen, 2026. "The great reshuffle: Remote work and residential sorting," European Economic Review, Elsevier, vol. 182(C).
    12. Laura Ketter & Todd Morris & Lizi Yu, 2025. "A new equilibrium: COVID-19 lockdowns and WFH persistence," Papers 2506.16671, arXiv.org.
    13. Brueckner, Jan K., 2025. "Work-from-home and cities: An elementary spatial model," Regional Science and Urban Economics, Elsevier, vol. 111(C).
    14. Steven Bond-Smith & Philip McCann, 2022. "The work-from-home revolution and the performance of cities," Working Papers 2022-6R, University of Hawaii Economic Research Organization, University of Hawaii at Manoa, revised Oct 2022.
    15. Diego Mayorga & Karla Neri Hernández & Jorge Pérez Pérez, 2024. "Housing Price Gradients in Mexico City During the COVID-19 Pandemic," Working Papers 2024-18, Banco de México.
    16. Ferdinando Monte & Charly Porcher & Esteban Rossi-Hansberg, 2023. "Remote Work and City Structure," Working Papers 2023-016, Human Capital and Economic Opportunity Working Group.
    17. Stijn Van Nieuwerburgh, 2023. "The remote work revolution: Impact on real estate values and the urban environment: 2023 AREUEA Presidential Address," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(1), pages 7-48, January.
    18. Jan K. Brueckner, 2024. "Work-from-Home and Cities: An Elementary Spatial Model," CESifo Working Paper Series 11121, CESifo.
    19. Lee, Kangoh, 2023. "Working from home as an economic and social change: A review," Labour Economics, Elsevier, vol. 85(C).
    20. Alexander Bick & Adam Blandin & Aidan Caplan & Tristan Caplan, 2024. "Measuring Trends in Work From Home: Evidence from Six U.S. Datasets," Working Papers 2024-023, Federal Reserve Bank of St. Louis, revised 12 Dec 2024.
    21. Erdsiek, Daniel & Rost, Vincent, 2022. "Working from home after COVID-19: Firms expect a persistent and intensive shift," ZEW Expert Briefs 22-06, ZEW - Leibniz Centre for European Economic Research.
    22. Diamond, William & Landvoigt, Tim & Sánchez, Germán Sánchez, 2025. "Printing away the mortgages: Fiscal inflation and the post-covid boom," Journal of Financial Economics, Elsevier, vol. 171(C).
    23. Arpit Gupta & Vrinda Mittal & Stijn Van Nieuwerburgh, 2022. "Work From Home and the Office Real Estate Apocalypse," NBER Working Papers 30526, National Bureau of Economic Research, Inc.
    24. Jinwon Kim & Dede Long, 2022. "What Flattened the House-Price Gradient? The Role of Work-from-Home and Decreased Commuting Cost," Working Papers 2205, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    25. Alexander Bick & Adam Blandin & Aidan Caplan & Tristan Caplan, 2024. "Heterogeneity in Work From Home: Evidence from Six U.S. Datasets," Working Papers 2024-038, Federal Reserve Bank of St. Louis.

  5. Alisdair McKay & Johannes F. Wieland, 2021. "Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy," Staff Report 622, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Yuki SHIGETA, 2022. "A Continuous-Time Utility Maximization Problem with Borrowing Constraints in Macroeconomic Heterogeneous Agent Models:A Case of Regular Controls under Markov Chain Uncertainty," Discussion papers e-22-009, Graduate School of Economics , Kyoto University.
    2. Anthony Brassil, 2022. "The Consequences of Low Interest Rates for the Australian Banking Sector," RBA Research Discussion Papers rdp2022-08, Reserve Bank of Australia.
    3. Atif Mian & Ludwig Straub & Amir Sufi, 2021. "Indebted Demand," Working Papers 2021-82, Princeton University. Economics Department..
    4. Jin Cao & Chao Cui & Valeriya Dinger & Martin B. Holm & Shulong Kang, 2025. "Identifying the Depreciation Rate of Durables from Marginal Spending Responses," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(1), pages 223-241, February.
    5. Dobrew, Michael & Gerke, Rafael & Giesen, Sebastian & Röttger, Joost, 2025. "Make-up strategies with incomplete markets and bounded rationality," European Economic Review, Elsevier, vol. 173(C).
    6. Bartal, Mehdi & Becard, Yvan, 2024. "Consumption tax cuts vs stimulus payments," Journal of Public Economics, Elsevier, vol. 239(C).
    7. Aristidou, Andreas & Giga, Aleksandar & Lee, Suk & Zapatero, Fernando, 2025. "Aspirational utility and investment behavior," Journal of Financial Economics, Elsevier, vol. 163(C).
    8. Maximilian Grimm & Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2023. "Loose Monetary Policy and Financial Instability," Working Paper Series 2023-06, Federal Reserve Bank of San Francisco.
    9. Bhatt, Vipul & Kishor, N. Kundan, 2023. "(In)Stability of the relationship between relative expenditure and prices of durable and non-durable goods," MPRA Paper 117688, University Library of Munich, Germany.
    10. Nathan Goldstein & Ohad Raveh, 2024. "Looking up the sky: unidentified aerial phenomena and macroeconomic attention," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-25, December.
    11. BBVA Research, 2025. "España | Los breves desfases de la Política Monetaria [Spain | The Short Lags of Monetary Policy]," Working Papers 25/08, BBVA Bank, Economic Research Department.
    12. Skaperdas, Arsenios, 2025. "Industry growth at the lower bound," Journal of International Money and Finance, Elsevier, vol. 152(C).
    13. Karin Kinnerud, 2025. "The effects of monetary policy through housing and mortgage choices on aggregate demand," Quantitative Economics, Econometric Society, vol. 16(2), pages 659-703, May.
    14. Koeniger, Winfried & Kress, Peter, 2024. "The Effect of Unconventional Fiscal Policy on Consumption – New Evidence Based on Transactional Data," IZA Discussion Papers 17412, IZA Network @ LISER.
    15. William Du & Adrian Monninger & Xincheng Qiu & Tao Wang, 2025. "Perceived Unemployment Risks over Business Cycles," Staff Working Papers 25-23, Bank of Canada.
    16. Alisdair McKay & Christian K. Wolf, 2023. "What Can Time‐Series Regressions Tell Us About Policy Counterfactuals?," Econometrica, Econometric Society, vol. 91(5), pages 1695-1725, September.
    17. Afonso S. Moura & Gergely Buda & Vasco M. Carvalho & Giancarlo Corsetti & João B. Duarte & Stephen Hansen & Álvaro Ortiz & Tomasa Rodrigo & José V. Rodríguez Mora & Guilherme Alves da Silva, 2025. "The Short Lags of Monetary Policy," Working Papers w202501, Banco de Portugal, Economics and Research Department.
    18. Acurio Vásconez, Verónica & Damette, Olivier & Shanafelt, David W., 2023. "Macroepidemics and unconventional monetary policy," Economic Modelling, Elsevier, vol. 126(C).
    19. Man Chon Iao & Yatheesan J. Selvakumar, 2024. "Estimating HANK with Micro Data," Papers 2402.11379, arXiv.org.
    20. Jake D. Orchard, 2025. "Non-homothetic Demand Shifts and Inflation Inequality," Finance and Economics Discussion Series 2025-085, Board of Governors of the Federal Reserve System (U.S.).
    21. Yuki SHIGETA, 2022. "Existence of Invariant Measure and Stationary Equilibrium in aContinuous-Time One-Asset Aiyagari Model:A Case of Regular Controls under Markov Chain Uncertainty," Discussion papers e-22-010, Graduate School of Economics , Kyoto University.
    22. Reiter, Michael & Sveen, Tommy & Weinke, Lutz, 2020. "Idiosyncratic Shocks, Lumpy Investment and the Monetary Transmission Mechanism," IHS Working Paper Series 16, Institute for Advanced Studies.
    23. Harmenberg, Karl & Öberg, Erik, 2021. "Consumption dynamics under time-varying unemployment risk," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 350-365.
    24. Francesco Amodeo & Edoardo Briganti, 2025. "High-Frequency Cross-Sectional Identification of Military News Shocks," Staff Working Papers 25-27, Bank of Canada.
    25. Dietrich, Alexander M. & Leitenbacher, Lukas & Müller, Gernot J., 2026. "Consumer durables, monetary policy, and the green transition," European Economic Review, Elsevier, vol. 182(C).
    26. Andrade, Philippe & Gautier, Erwan & Mengus, Eric, 2023. "What matters in households’ inflation expectations?," Journal of Monetary Economics, Elsevier, vol. 138(C), pages 50-68.
    27. Bertolotti, Fabio & Gavazza, Alessandro & Lanteri, Andrea, 2023. "Dynamics of expenditures on durable goods: the role of new-product quality," LSE Research Online Documents on Economics 117851, London School of Economics and Political Science, LSE Library.
    28. Boris Chafwehe, 2023. "Unemployment Risk, Consumption Dynamics, and the Secondary Market for Durable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 202-243, April.
    29. Partsch, Emil Holst & Petrella, Ivan & Santoro, Emiliano, 2026. "Consumer durables and monetary policy according to HANK," Journal of Monetary Economics, Elsevier, vol. 157(C).
    30. Brianti, Marco & Cormun, Vito, 2024. "Expectation-driven boom-bust cycles," Journal of Monetary Economics, Elsevier, vol. 146(C).
    31. Pablo Ottonello & Thomas Winberry, 2020. "Financial Heterogeneity and the Investment Channel of Monetary Policy," Econometrica, Econometric Society, vol. 88(6), pages 2473-2502, November.
    32. Kocherlakota, Narayana R., 2022. "Stabilization with fiscal policy," Journal of Monetary Economics, Elsevier, vol. 131(C), pages 1-14.
    33. Clemens, Marius & Röger, Werner, 2024. "Rising allowances, rising rates — Can growth arise through business income tax reform despite government debt limit?," Journal of Macroeconomics, Elsevier, vol. 81(C).
    34. Markus Knell, 2023. "Housing and the secular decline in real interest rates (Markus Knell)," Working Papers 251, Oesterreichische Nationalbank (Austrian Central Bank).
    35. Delgado, Martha Elena & Herreño, Juan David & Hofstetter, Marc & Pedemonte, Mathieu, 2024. "The Causal Effects of Expected Depreciations," IDB Publications (Working Papers) 13761, Inter-American Development Bank.
    36. Yves Achdou & Jiequn Han & Jean-Michel Lasry & Pierre-Louis Lionse & Benjamin Moll, 2022. "Income and Wealth Distribution in Macroeconomics: A Continuous-Time Approach," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(1), pages 45-86.
    37. Felici, Marco & Kenny, Geoff & Friz, Roberta, 2023. "Consumer savings behaviour at low and negative interest rates," European Economic Review, Elsevier, vol. 157(C).
    38. Wenting Song & Samuel Stern, 2022. "Firm Inattention and the Efficacy of Monetary Policy: A Text-Based Approach," Staff Working Papers 22-3, Bank of Canada.
    39. Achdou, Yves & Han, Jiequn & Lasry, Jean Michel & Lions, Pierre Louis & Moll, Ben, 2022. "Income and wealth distribution in macroeconomics: a continuous-time approach," LSE Research Online Documents on Economics 107422, London School of Economics and Political Science, LSE Library.
    40. Kuncl, Martin & Ueberfeldt, Alexander, 2024. "Monetary policy and the persistent aggregate effects of wealth redistribution," Journal of Monetary Economics, Elsevier, vol. 144(C).
    41. Atanas Pekanov, 2021. "Geldpolitik und Kreditwesen in der COVID-19-Krise," WIFO Monatsberichte (monthly reports), WIFO, vol. 94(4), pages 309-320, April.
    42. Marius Clemens & Werner Röger, 2022. "Durable Consumption, Limited VAT Pass-Through and Stabilization Effects of Temporary VAT Changes," Discussion Papers of DIW Berlin 2004, DIW Berlin, German Institute for Economic Research.
    43. de Groot, Oliver & Haas, Alexander, 2023. "The signalling channel of negative interest rates," Journal of Monetary Economics, Elsevier, vol. 138(C), pages 87-103.
    44. Thiago Revil T. Ferreira & Daniel Ostry & John Rogers, 2023. "Firm Financial Conditions and the Transmission of Monetary Policy," Finance and Economics Discussion Series 2023-037, Board of Governors of the Federal Reserve System (U.S.).
    45. Gergely Buda & Vasco M. Carvalho & Giancarlo Corsetti & João Duarte & Stephen Hansen & Afonso Pereira da Silva & Alvaro Ortiz & Tomasa Rodrigo & Guilherme Alves da Silva & José V. Rodríguez Mora, 2025. "España | Los cortos retardos de la política monetaria [Spain | The Short Lags of Monetary Policy]," Working Papers 25/02, BBVA Bank, Economic Research Department.
    46. Garabedian, Garo, 2025. "Star-struck; Monetary Policy and the Neutral Rate," Research Technical Papers 4/RT/25, Central Bank of Ireland.
    47. Aruoba, S. Borağan & Drechsel, Thomas, 2024. "The long and variable lags of monetary policy: Evidence from disaggregated price indices," Journal of Monetary Economics, Elsevier, vol. 148(S).
    48. Nick Stenner, 2022. "The Asymmetric Effects of Monetary Policy: Evidence from the United Kingdom," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 516-543, June.
    49. Johannes Wieland, 2024. "Comment on "Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"," NBER Chapters, in: NBER Macroeconomics Annual 2024, volume 39, pages 358-365, National Bureau of Economic Research, Inc.
    50. Mishel Ghassibe, 2024. "Endogenous Production Networks and Non-Linear Monetary Transmission," Working Papers 1449, Barcelona School of Economics.

  6. Joshua K. Hausman & Paul W. Rhode & Johannes F. Wieland, 2020. "Farm Product Prices, Redistribution, and the Early U.S. Great Depression," NBER Working Papers 28055, National Bureau of Economic Research, Inc.

    Cited by:

    1. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    2. Carlson, Mark, 2025. "Durable consumption, bank distress, economic concerns, and how they interacted during the great depression," Explorations in Economic History, Elsevier, vol. 97(C).
    3. Myles, Jamieson, 2024. "Accommodating Agriculture within U.S. Capitalism: Cotton, Cooperatives, and Intermediate Trade Finance in the Early Twentieth Century," Working Papers unige:181156, University of Geneva, Paul Bairoch Institute of Economic History.

  7. Alisdair McKay & Johannes F. Wieland, 2020. "Forward Guidance and Durable Goods Demand," NBER Working Papers 28066, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ding Dong & Zheng Liu & Pengfei Wang & Min Wei, 2024. "Inflation Disagreement Weakens the Power of Monetary Policy," Finance and Economics Discussion Series 2024-094, Board of Governors of the Federal Reserve System (U.S.).
    2. van den End, Jan Willem & Konietschke, Paul & Samarina, Anna & Stanga, Irina M., 2021. "Macroeconomic reversal rate in a low interest rate environment," Working Paper Series 2620, European Central Bank.
    3. Stéphane Dupraz, 2023. "The Dynamic IS Curve when there is both Investment and Savings," Working papers 905, Banque de France.
    4. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
    5. Woo, Jinhee, 2023. "The power of forward guidance: The role of social transfer," Economic Modelling, Elsevier, vol. 126(C).
    6. Boris Chafwehe, 2023. "Unemployment Risk, Consumption Dynamics, and the Secondary Market for Durable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 202-243, April.
    7. Partsch, Emil Holst & Petrella, Ivan & Santoro, Emiliano, 2026. "Consumer durables and monetary policy according to HANK," Journal of Monetary Economics, Elsevier, vol. 157(C).
    8. Damar, H. Evren & Lange, Ian & McKennie, Caitlin & Moro, Mirko, 2022. "Banking deregulation and consumption of home durables," IWH Discussion Papers 4/2022, Halle Institute for Economic Research (IWH).
    9. Johannes Wieland, 2024. "Comment on "Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"," NBER Chapters, in: NBER Macroeconomics Annual 2024, volume 39, pages 358-365, National Bureau of Economic Research, Inc.

  8. Alisdair McKay & Johannes Wieland, 2019. "Lumpy Durable Consumption Demand and the State-Dependent Effects of Monetary and Fiscal Policy," 2019 Meeting Papers 364, Society for Economic Dynamics.

    Cited by:

    1. Harmenberg, Karl & Öberg, Erik, 2021. "Consumption dynamics under time-varying unemployment risk," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 350-365.
    2. Philippe Andrade & Erwan Gautier & Eric Mengus, 2020. "What Matters in Households Inflation Expectations?," Working papers 770, Banque de France.

  9. Jérémie Cohen-Setton & Joshua K. Hausman & Johannes F. Wieland, 2017. "Supply-Side Policies in the Depression: Evidence from France," Working Paper Series WP17-4, Peterson Institute for International Economics.

    Cited by:

    1. Yihao Xue & Qiaoyu Liang & Bing Tong, 2022. "The Effects of Energy Supply Shocks and Interest Rate Liberalization in China," CFDS Discussion Paper Series 2022/1, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    2. Joshua K. Hausman & Johannes F. Wieland, 2015. "Overcoming the Lost Decades? Abenomics after Three Years," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 385-431.
    3. Yangyang Ji, 2019. "Are Supply-side Reforms Contractionary at the Zero Lower Bound?," CESifo Economic Studies, CESifo Group, vol. 65(1), pages 68-83.
    4. Jalil, Andrew J. & Rua, Gisela, 2016. "Inflation expectations and recovery in spring 1933," Explorations in Economic History, Elsevier, vol. 62(C), pages 26-50.
    5. Tong, Bing, 2021. "The effects of capacity reduction policy under the interest rate peg in China," Journal of Asian Economics, Elsevier, vol. 74(C).
    6. Jordan Roulleau‐Pasdeloup & Anastasia Zhutova, 2022. "Labor Market Policies in a Deep Recession: Lessons from Hoover's Policies during the U.S. Great Depression," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(1), pages 247-283, February.
    7. Daniel, Volker & ter Steege, Lucas, 2018. "Inflation Expectations and the Recovery from the Great Depression in Germany," Working Papers 6, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    8. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    9. Mr. Barry J. Eichengreen & Ms. Asmaa A ElGanainy & Rui Pedro Esteves & Kris James Mitchener, 2019. "Public Debt Through the Ages," IMF Working Papers 2019/006, International Monetary Fund.
    10. Yangyang Ji, 2021. "Are Technology Shocks More Expansionary at the ZLB?," CESifo Economic Studies, CESifo Group, vol. 67(3), pages 296-317.
    11. Ms. Elif C Arbatli Saxegaard & Mr. Dennis P Botman & Kevin Clinton & Pietro Cova & Vitor Gaspar & Zoltan Jakab & Mr. Douglas Laxton & Mr. Constant A Lonkeng Ngouana & Mr. Joannes Mongardini & Hou Wang, 2016. "Reflating Japan: Time to Get Unconventional?," IMF Working Papers 2016/157, International Monetary Fund.
    12. Bing Tong, 2020. "Capacity Reduction Policy Under the Interest Rate Peg in China," CFDS Discussion Paper Series 2020/2, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    13. Julio Garín & Robert Lester & Eric Sims, 2016. "Are Supply Shocks Contractionary at the ZLB? Evidence from Utilization-Adjusted TFP Data," NBER Working Papers 22311, National Bureau of Economic Research, Inc.
    14. Yangyang Ji, 2026. "Are positive technology shocks expansionary at the zero lower bound?," Empirical Economics, Springer, vol. 70(2), pages 1-42, February.

  10. Joshua K. Hausman & Paul W. Rhode & Johannes F. Wieland, 2017. "Recovery from the Great Depression: The Farm Channel in Spring 1933," NBER Working Papers 23172, National Bureau of Economic Research, Inc.

    Cited by:

    1. Jaremski, Matthew & Richardson, Gary & Vossmeyer, Angela, 2025. "Signals and stigmas from banking interventions: Lessons from the Bank Holiday of 1933," Journal of Financial Economics, Elsevier, vol. 163(C).
    2. Jason Lennard & Finn Meinecke & Solomos Solomou, 2023. "Measuring inflation expectations in interwar Britain," Economic History Review, Economic History Society, vol. 76(3), pages 844-870, August.
    3. Cantoni, Davide & Yuchtman, Noam, 2020. "Historical Natural Experiments: Bridging Economics and Economic History," CEPR Discussion Papers 14401, Centre for Economic Policy Research.
    4. Colin Weiss, 2020. "Contractionary Devaluation Risk: Evidence from the Free Silver Movement, 1878-1900," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 705-720, October.
    5. Price Fishback & Sebastián Fleitas & Jonathan Rose & Kenneth Snowden, 2018. "Collateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in the 1930s," NBER Working Papers 25246, National Bureau of Economic Research, Inc.
    6. Xi He, 2020. "US agricultural exports and labor market adjustments," Agricultural Economics, International Association of Agricultural Economists, vol. 51(4), pages 609-621, July.
    7. Margaret M. Jacobson & Eric M. Leeper & Bruce Preston, 2019. "Recovery of 1933," NBER Working Papers 25629, National Bureau of Economic Research, Inc.
    8. Michael D. Bordo, 2017. "An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime," NBER Working Papers 24154, National Bureau of Economic Research, Inc.
    9. Jason Lennard & Meredith M. Paker, 2023. "Devaluation, Exports, and Recovery from the Great Depression," Discussion Papers 2403, Centre for Macroeconomics (CFM).
    10. Markus K. Brunnermeier & Sergio Correia & Stephan Luck & Emil Verner & Tom Zimmermann, 2024. "The Debt-Inflation Channel of the German (Hyper-)Inflation," Papers 2405.13296, arXiv.org.
    11. Bent, Peter H., 2020. "Recovery from financial crises in peripheral economies, 1870–1913," Explorations in Economic History, Elsevier, vol. 78(C).
    12. Adrien Auclert & Will S. Dobbie & Paul Goldsmith-Pinkham, 2019. "Macroeconomic Effects of Debt Relief: Consumer Bankruptcy Protections in the Great Recession," NBER Working Papers 25685, National Bureau of Economic Research, Inc.
    13. Miguel Almunia & Pol Antràs & David Lopez-Rodriguez & Eduardo Morales, 2021. "Venting Out: Exports During a Domestic Slump," Working Papers 2021-83, Princeton University. Economics Department..
    14. Michael D. Bordo, 2017. "An historical perspective on financial stability and monetary policy regimes: A case for caution in central banks current obsession with financial stability," Working Paper 2018/5, Norges Bank.
    15. Poelmans, Eline & Taylor, Jason E. & Raisanen, Samuel & Holt, Andrew C., 2022. "Estimates of employment gains attributable to beer legalization in spring 1933," Explorations in Economic History, Elsevier, vol. 84(C).
    16. Monnet, Eric & Degorce, Victor, 2020. "The Great Depression as a Saving Glut," CEPR Discussion Papers 15287, Centre for Economic Policy Research.
    17. Bernardo Candia & Mathieu Pedemonte, 2021. "Export-Led Decay: The Trade Channel in the Gold Standard Era," Working Papers 21-11r, Federal Reserve Bank of Cleveland, revised 08 Nov 2021.
    18. Brunet, Gillian & Hilt, Eric & Jaremski, Matthew, 2025. "War bonds and household saving in WWII," Explorations in Economic History, Elsevier, vol. 97(C).
    19. Siodla, James, 2020. "Debt and taxes: Fiscal strain and US city budgets during the Great Depression," Explorations in Economic History, Elsevier, vol. 76(C).

  11. Gabriel Chodorow-Reich & Johannes Wieland, 2016. "Secular Labor Reallocation and Business Cycles," NBER Working Papers 21864, National Bureau of Economic Research, Inc.

    Cited by:

    1. Howes, Cooper, 2022. "Why does structural change accelerate in recessions? The credit reallocation channel," Journal of Financial Economics, Elsevier, vol. 144(3), pages 933-952.
    2. Antonia Díaz & Juan J. Dolado & Alvaro Jáñez & Félix Wellschmied, 2024. "Labor reallocation effects of furlought schemes: evidence from two recessions in Spain," Documentos de Trabajo del ICAE 2024-01, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    3. Dupraz, Stéphane & Nakamura, Emi & Steinsson, Jón, 2025. "A plucking model of business cycles," Journal of Monetary Economics, Elsevier, vol. 152(C).
    4. Diaz, Antonia & Dolado, Juan J. & Jáñez, Álvaro & Wellschmied, Felix, 2023. "Labour Market Reallocation Effects of COVID-19 Policies in Spain: A Tale of Two Recessions," IZA Discussion Papers 16095, IZA Network @ LISER.
    5. Jiang, Zhe (Jasmine), 2023. "‘Multinational Firms’ Sourcing Decisions and Wage Inequality: A Dynamic Analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
    6. Dongya Koh & Jingping Gu & Andrew Liu, 2022. "Working from a Distance: Productivity Dispersion and Labor Reallocation," ISER Discussion Paper 1163, Institute of Social and Economic Research, The University of Osaka.
    7. García-Cabo, Joaquín & Lipińska, Anna & Navarro, Gastón, 2023. "Sectoral shocks, reallocation, and labor market policies," European Economic Review, Elsevier, vol. 156(C).
    8. Dan Cao & Erick Sager & Henry Hyatt & Toshihiko Mukoyama, 2019. "Firm Growth through New Establishments," 2019 Meeting Papers 1484, Society for Economic Dynamics.
    9. Agostino Consolo & Filippos Petroulakis, 2024. "Did COVID‐19 induce a reallocation wave?," Economica, London School of Economics and Political Science, vol. 91(364), pages 1349-1390, October.
    10. Rosa Ferrentino & Luca Vota, 2025. "Economic growth, air pollution, and unemployment: a statistical-mathematical analysis," Quality & Quantity: International Journal of Methodology, Springer, vol. 59(6), pages 5837-5872, December.
    11. Paker, Meredith M., 2023. "The jobless recovery after the 1980–1981 British recession," Explorations in Economic History, Elsevier, vol. 90(C).
    12. Carlos Carrillo‐Tudela & Ludo Visschers, 2023. "Unemployment and Endogenous Reallocation Over the Business Cycle," Econometrica, Econometric Society, vol. 91(3), pages 1119-1153, May.
    13. Hazell, Jonathon & Taska, Bledi, 2023. "Downward Rigidity in the Wage for New Hires," IZA Discussion Papers 16512, IZA Network @ LISER.
    14. Xing Guo & Pablo Ottonello & Diego Perez, 2022. "Monetary Policy and Redistribution in Open Economies," Staff Working Papers 22-6, Bank of Canada.
    15. Egana-delSol, Pablo & Micco, Alejandro, 2025. "The role of technological change in the evolution of the employment to output elasticity," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 587-599.
    16. Verdugo, Gregory & Allègre, Guillaume, 2020. "Labour Force Participation and Job Polarization: Evidence from Europe during the Great Recession," IZA Discussion Papers 13425, IZA Network @ LISER.
    17. Faia, Ester & Kudlyak, Marianna & Shabalina, Ekaterina, 2021. "Dynamic Labor Reallocation with Heterogeneous Skills and Uninsured Idiosyncratic Risk," IZA Discussion Papers 14794, IZA Network @ LISER.
    18. Leonard Bocquet, 2022. "The Network Origin of Slow Labor Reallocation," Working Papers halshs-03703862, HAL.
    19. Wellmann, Susanne, 2023. "The Phillips curve in the euro area: New evidence using country-level data," University of Tübingen Working Papers in Business and Economics 156, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    20. Geng, Yong & Liu, Wei & Wu, Yuzhao, 2021. "How do zombie firms affect China’s industrial upgrading?," Economic Modelling, Elsevier, vol. 97(C), pages 79-94.
    21. Veronica Guerrieri, 2021. "Monetary Policy and Uneven Shocks," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, August.
    22. Richard K. Crump & Nikolay Gospodinov & Ignacio Lopez Gaffney, 2024. "A Simple Diagnostic for Time-Series and Panel-Data Regressions," Staff Reports 1132, Federal Reserve Bank of New York.
    23. Cociuba, Simona E. & MacGee, James C., 2026. "Sectoral reallocations with an aging population," European Economic Review, Elsevier, vol. 181(C).
    24. Alistair Dieppe, 2021. "Global Productivity," World Bank Publications - Books, The World Bank Group, number 34015, April.
    25. Cassola, Nuno & De Grauwe, Paul & Morana, Claudio & Tirelli, Patrizio, 2022. "The risks of exiting too early the policy responses to the COVID-19 recession," LSE Research Online Documents on Economics 113327, London School of Economics and Political Science, LSE Library.
    26. Simona E. Cociuba & James C. MacGee, 2018. "Demographics and Sectoral Reallocations: A Search Theory with Immobile Workers," University of Western Ontario, Departmental Research Report Series 20182, University of Western Ontario, Department of Economics.
    27. Chodorow-Reich, Gabriel, 2020. "Regional data in macroeconomics: Some advice for practitioners," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    28. Kimberly A. Berg & Nam T. Vu, 2021. "Asymmetric effects of sectoral shifts under low and high uncertainty," Economic Inquiry, Western Economic Association International, vol. 59(3), pages 1149-1171, July.
    29. Lukas Mergele & Moritz Hennicke & Moritz Lubczyk, 2020. "The Big Sell: Privatizing East Germany's Economy," CESifo Working Paper Series 8566, CESifo.
    30. Banks, James & Cribb, Jonathan & Emmerson, Carl & Sturrock, David, 2025. "The impact of work on cognition and physical disability: Evidence from English women," Labour Economics, Elsevier, vol. 94(C).
    31. Marco Di Maggio & Amir Kermani, 2016. "The Importance of Unemployment Insurance as an Automatic Stabilizer," NBER Working Papers 22625, National Bureau of Economic Research, Inc.
    32. Leonard Bocquet, 2022. "The Network Origin of Slow Labor Reallocation," PSE Working Papers halshs-03703862, HAL.
    33. Mercan, Yusuf & Schoefer, Benjamin & SedlÃ¡Ä ek, Petr, 2022. "A Congestion Theory of Unemployment Fluctuations," CEPR Discussion Papers 15500, Centre for Economic Policy Research.
    34. Arpit Gupta & Anup Malani & Bartek Woda, 2021. "Explaining the Income and Consumption Effects of COVID in India," NBER Working Papers 28935, National Bureau of Economic Research, Inc.
    35. Jonathon Hazell & Bledi Taska, 2020. "Downward Rigidity in the Wage for New Hires," Discussion Papers 2028, Centre for Macroeconomics (CFM).
    36. Bocquet, L., 2024. "The Network Origin of Slow Labour Reallocation," Cambridge Working Papers in Economics 2465, Faculty of Economics, University of Cambridge.
    37. David, Joel M. & Schmid, Lukas & Zeke, David, 2022. "Risk-adjusted capital allocation and misallocation," Journal of Financial Economics, Elsevier, vol. 145(3), pages 684-705.
    38. Mr. Geoffrey J Bannister & Mr. Harald Finger & Siddharth Kothari & Ms. Elena Loukoianova, 2020. "Addressing the Pandemic's Medium-Term Fallout in Australia and New Zealand," IMF Working Papers 2020/272, International Monetary Fund.
    39. Dimitrios Bakas & Theodore Panagiotidis & Gianluigi Pelloni, 2024. "Labour reallocation and unemployment fluctuations: A tale of two tails," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3444-3468, July.
    40. Jean‐François Rouillard, 2023. "Credit Crunch and Downward Nominal Wage Rigidities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 889-914, June.
    41. Eeckhout, Jan & Weng, Xi, 2024. "The technological origins of the decline in labor market dynamism," Journal of Economic Dynamics and Control, Elsevier, vol. 169(C).

  12. Marc Carreras & Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2016. "Infrequent but Long-Lived Zero-Bound Episodes and the Optimal Rate of Inflation," Working Papers id:11216, eSocialSciences.

    Cited by:

    1. Galo Nuño, 2025. "Three Theories of Natural Rate Dynamics," CESifo Working Paper Series 11878, CESifo.
    2. Proaño Acosta, Christian & Lojak, Benjamin, 2020. "Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model," BERG Working Paper Series 161, Bamberg University, Bamberg Economic Research Group.
    3. Ishise, Hirokazu, 2022. "Optimal long-run inflation rate in an open economy," European Economic Review, Elsevier, vol. 148(C).
    4. Galí, Jordi & Andrade, Philippe & Le Bihan, Hervé & Matheron, Julien, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," CEPR Discussion Papers 12723, Centre for Economic Policy Research.
    5. Atanas Pekanov, 2018. "The New View on Fiscal Policy and its Implications for the European Monetary Union," WIFO Working Papers 562, WIFO.
    6. Wataru Miyamoto & Thuy Lan Nguyen & Dmitriy Sergeyev, 2017. "Government Spending Multipliers Under the Zero Lower Bound: Evidence from Japan," Staff Working Papers 17-40, Bank of Canada.
    7. Jason Choi & Andrew Foerster, 2021. "Optimal Monetary Policy Regime Switches," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 42, pages 333-346, October.
    8. Andrés Blanco, 2021. "Optimal Inflation Target in an Economy with Menu Costs and a Zero Lower Bound," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 108-141, July.
    9. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    10. Strobel, Johannes & Lee, Gabriel & Dorofeenko, Victor & Salyer, Kevin, 2019. "Time-Varying Risk Shocks and the Zero Lower Bound," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203491, Verein für Socialpolitik / German Economic Association.
    11. Deák, Szabolcs & Levine, Paul & Pham, Son T., 2024. "Simple mandates, monetary rules, and trend-inflation," Macroeconomic Dynamics, Cambridge University Press, vol. 28(4), pages 757-790, June.
    12. Hauptmeier, Sebastian & Kamps, Christophe & Radke, Lucas, 2022. "Counter-cyclical fiscal rules and the zero lower bound," Working Paper Series 2715, European Central Bank.
    13. Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021. "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers) 660, Bank of Italy, Economic Research and International Relations Area.
    14. Robert Kurtzman & David Zeke, 2020. "Misallocation Costs of Digging Deeper into the Central Bank Toolkit," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 38, pages 94-126, October.
    15. Tomohide Mineyama & Wataru Hirata & Kenji Nishizaki, 2019. "Inflation and Social Welfare in a New Keynesian Model: The Case of Japan and the U.S," Bank of Japan Working Paper Series 19-E-10, Bank of Japan.
    16. Acharya, Sushant & Dogra, Keshav, 2020. "The Side Effects of Safe Asset Creation," CEPR Discussion Papers 14440, Centre for Economic Policy Research.
    17. Robert Amano & Thomas Carter & Sylvain Leduc, 2019. "Precautionary Pricing: The Disinflationary Effects of ELB Risk," Working Paper Series 2019-26, Federal Reserve Bank of San Francisco.
    18. Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño & Omar Rachedi, 2023. "Inequality and the Zero Lower Bound," CESifo Working Paper Series 10471, CESifo.
    19. Davide Debortoli & Jordi Galí & Luca Gambetti, 2019. "On the Empirical (Ir)relevance of the Zero Lower Bound Constraint," NBER Chapters, in: NBER Macroeconomics Annual 2019, volume 34, pages 141-170, National Bureau of Economic Research, Inc.
    20. Lansing, Kevin J., 2021. "Endogenous forecast switching near the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 153-169.
    21. Yagihashi, Takeshi, 2018. "How costly is a misspecified credit channel DSGE model in monetary policymaking?," Economic Modelling, Elsevier, vol. 68(C), pages 484-505.
    22. Philip Coyle & Taisuke Nakata, 2020. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," CARF F-Series CARF-F-485, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    23. Gerke, Rafael & Giesen, Sebastian & Kienzler, Daniel, 2020. "Interest rate pegs and the reversal puzzle: On the role of anticipation," Discussion Papers 50/2020, Deutsche Bundesbank.
    24. Aleksandra Praščević & Milutin Ješić, 2019. "Modeling Macroeconomic Policymakers’ Interactions under Zero Lower Bound Environment: The New Keynesian Theoretical Approach," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 8(1), pages 5-38.
    25. Dordal i Carreras, Marc & Lee, Seung Joo, 2026. "Higher-order forward guidance," Journal of Economic Theory, Elsevier, vol. 231(C).
    26. 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.
    27. Philip Coyle & Taisuke Nakata, 2019. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," Finance and Economics Discussion Series 2019-036, Board of Governors of the Federal Reserve System (U.S.).
    28. Deak, S. & Levine, P. & Mirza, A. & Pearlman, J., 2019. "Designing Robust Monetary Policy Using Prediction Pools," Working Papers 19/11, Department of Economics, City St George's, University of London.
    29. 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.).
    30. Apel, Mikael & Armelius, Hanna & Claussen, Carl Andreas, 2017. "The level of the inflation target – a review of the issues," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 2, pages 36-56.
    31. Haochun Ma & Jordan Roulleau-Pasdeloup, 2025. "Clearing Up the Effective Lower Bound Morass," Papers 2511.04782, arXiv.org.

  13. Johannes F. Wieland & Mu-Jeung Yang, 2016. "Financial Dampening," NBER Working Papers 22141, National Bureau of Economic Research, Inc.

    Cited by:

    1. Ghassibe, Mishel, 2021. "Monetary policy and production networks: an empirical investigation," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 21-39.
    2. Sandra Eickmeier & Boris Hofmann, 2022. "What drives inflation? Disentangling demand and supply factors," BIS Working Papers 1047, Bank for International Settlements.
    3. Juvenal, Luciana & Petrella, Ivan, 2024. "Unveiling the dance of commodity prices and the global financial cycle," Journal of International Economics, Elsevier, vol. 150(C).
    4. Bu, Chunya & Rogers, John & Wu, Wenbin, 2021. "A unified measure of Fed monetary policy shocks," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 331-349.
    5. Juvenal, Luciana & Petrella, Ivan, 2024. "Reprint of “Unveiling the dance of commodity prices and the global financial cycle”," Journal of International Economics, Elsevier, vol. 149(C).
    6. Metiu, Norbert & Prieto, Esteban, 2025. "Time-varying stock return correlation, news shocks, and business cycles," European Economic Review, Elsevier, vol. 172(C).
    7. Jørgensen, Peter Lihn & Lansing, Kevin J., 2025. "Anchored inflation expectations and the slope of the Phillips curve," European Economic Review, Elsevier, vol. 178(C).
    8. Jackson, Laura E. & Kurt, Ezgi, 2025. "Downward wage rigidity and asymmetric effects of monetary policy," Journal of Macroeconomics, Elsevier, vol. 83(C).
    9. Ziegenbein, Alexander, 2021. "Macroeconomic shocks and Okun’s Law," Economics Letters, Elsevier, vol. 202(C).
    10. Süssmuth, Bernd & Wieschemeyer, Matthias, 2022. "Taxation and the distributional impact of inflation: The U.S. post-war experience," Economic Modelling, Elsevier, vol. 111(C).
    11. Dominik Bertsche & Robin Braun, 2017. "Identification of Structural Vector Autoregressions by Stochastic Volatility," Working Paper Series of the Department of Economics, University of Konstanz 2017-11, Department of Economics, University of Konstanz.
    12. Caldara, Dario & Ferrante, Francesco & Iacoviello, Matteo & Prestipino, Andrea & Queralto, Albert, 2024. "The international spillovers of synchronous monetary tightening," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 127-152.
    13. Garga, Vaishali & Singh, Sanjay R., 2021. "Output hysteresis and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 871-886.
    14. Brianti, Marco & Gáti, Laura, 2023. "Information and communication technologies and medium-run fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    15. Kame Babilla, Thierry U., 2023. "Digital innovation and financial access for small and medium-sized enterprises in a currency union," Economic Modelling, Elsevier, vol. 120(C).
    16. Nie, He & Yao, Jiarui & Wang, Haoan, 2025. "The real cost channel and the Phillips Curve for China," Economics Letters, Elsevier, vol. 247(C).
    17. Gonçalves, Sílvia & Herrera, Ana María & Kilian, Lutz & Pesavento, Elena, 2024. "State-dependent local projections," Journal of Econometrics, Elsevier, vol. 244(2).
    18. Michael Weber & Ali Ozdagli, 2016. "Monetary Policy Through Production Networks: Evidence from the Stock Market," 2016 Meeting Papers 148, Society for Economic Dynamics.
    19. Dong, Ding & Liu, Zheng & Wang, Pengfei & Zha, Tao, 2022. "A theory of housing demand shocks," Journal of Economic Theory, Elsevier, vol. 203(C).
    20. Partsch, Emil Holst & Petrella, Ivan & Santoro, Emiliano, 2026. "Consumer durables and monetary policy according to HANK," Journal of Monetary Economics, Elsevier, vol. 157(C).
    21. Joshua Bernstein & Rupal Kamdar, 2023. "Rationally Inattentive Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 48, pages 265-296, April.
    22. Gargiulo, Valeria & Matthes, Christian & Petrova, Katerina, 2025. "Monetary policy across inflation regimes," European Economic Review, Elsevier, vol. 178(C).
    23. Mendes, Igor & da Silva Bejarano Aragón, Edilean Kleber & Silva, Marcelo E.A., 2025. "Trend inflation and weak identification in the New Keynesian Phillips curve," Economics Letters, Elsevier, vol. 255(C).
    24. Chatterjee, Ujjal & French, Joseph J. & Gurdgiev, Constantin & Borochin, Paul, 2024. "Financial intermediation and informational efficiency: Predicting business cycles," International Review of Economics & Finance, Elsevier, vol. 96(PB).
    25. Ramey, V.A., 2016. "Macroeconomic Shocks and Their Propagation," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 71-162, Elsevier.
    26. Jae Won Lee & Seunghyeon Lee, 2025. "Monetary Non-Neutrality in a Multisector Economy: The Role of Risk-Sharing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    27. Hong, Gee Hee & Klepacz, Matthew & Pasten, Ernesto & Schoenle, Raphael, 2023. "The real effects of monetary shocks: Evidence from micro pricing moments," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 1-20.
    28. Nguyen, Lam, 2025. "Bayesian inference in proxy SVARs with incomplete identification: Re-evaluating the validity of monetary policy instruments," Journal of Monetary Economics, Elsevier, vol. 155(C).
    29. Miller, Stephen M. & Teryoshin, Yevgeniy, 2024. "Income inequality and monetary policy regimes," Economics Letters, Elsevier, vol. 243(C).
    30. Ho, Cheuk Yin, 2025. "Do sticky prices or sticky wages matter for monetary non-neutrality?," Economics Letters, Elsevier, vol. 251(C).
    31. Michal Franta & Jan Libich, 2021. "Holding the Economy by the Tail: Analysis of Short- and Long-run Macroeconomic Risks," Working Papers 2021/3, Czech National Bank, Research and Statistics Department.

  14. Yuriy Gorodnichenko & Johannes Wieland & Olivier Coibion, 2012. "The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?," 2012 Meeting Papers 70, Society for Economic Dynamics.

    Cited by:

    1. Juan Carlos Suárez Serrato & Owen Zidar, 2015. "Who benefits from state corporate tax cuts? A local labour markets approach with heterogeneous firms," Working Papers 1502, Oxford University Centre for Business Taxation.
    2. 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.
    3. Refet S. Gürkaynak & Burcin Kisacikoglu & Sang Seok Lee, 2022. "Exchange Rate and Inflation under Weak Monetary Policy: Turkey Verifies Theory," CESifo Working Paper Series 9748, CESifo.
    4. William B. English & J. David López-Salido & Robert J. Tetlow, 2013. "The Federal Reserve's framework for monetary policy - recent changes and new questions," Finance and Economics Discussion Series 2013-76, Board of Governors of the Federal Reserve System (U.S.).
    5. Adam, Klaus & Weber, Henning, 2020. "Estimating the Optimal Inflation Target from Trends in Relative Prices," CEPR Discussion Papers 14335, Centre for Economic Policy Research.
    6. Chen, Zhengyang & Valcarcel, Victor J., 2025. "Modeling inflation expectations in forward-looking interest rate and money growth rules," Journal of Economic Dynamics and Control, Elsevier, vol. 170(C).
    7. Christian P Pinshi, 2022. "Ciblage des prévisions d'inflation : Un nouveau cadre pour la politique monétaire ?," Working Papers hal-03548273, HAL.
    8. Duffy, James A. & Mavroeidis, Sophocles & Wycherley, Sam, 2025. "Cointegration with occasionally binding constraints," Journal of Econometrics, Elsevier, vol. 252(PA).
    9. Philippe Andrade & Jordi Gali & Hervé Le Bihan & Julien Matheron, 2021. "Should the ECB Adjust its Strategy in the Face of a Lower r*?," Working papers 811, Banque de France.
    10. Antoine Lepetit, 2022. "The Optimal Inflation Rate with Discount Factor Heterogeneity," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 1971-1996, October.
    11. Proaño Acosta, Christian & Lojak, Benjamin, 2020. "Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model," BERG Working Paper Series 161, Bamberg University, Bamberg Economic Research Group.
    12. Nathaniel Throckmorton & Benjamin Keen & Alexander Richter & William Gavin, 2013. "Global Dynamics at the Zero Lower Bound," 2013 Meeting Papers 839, Society for Economic Dynamics.
    13. Yasufumi Gemma & Takushi Kurozumi & Mototsugu Shintani, 2017. "Trend Inflation and Evolving Inflation Dynamics: A Bayesian GMM Analysis of the Generalized New Keynesian Phillips Curve," IMES Discussion Paper Series 17-E-10, Institute for Monetary and Economic Studies, Bank of Japan.
    14. Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño Barrau & Omar Rachedi, 2024. "Inequality and the zero lower bound," BIS Working Papers 1160, Bank for International Settlements.
    15. Zaretski, Aliaksandr, 2021. "Financial constraints, risk sharing, and optimal monetary policy," MPRA Paper 110757, University Library of Munich, Germany.
    16. Lilia Maliar & Serguei Maliar & John B. Taylor & Inna Tsener, 2020. "A tractable framework for analyzing a class of nonstationary Markov models," Quantitative Economics, Econometric Society, vol. 11(4), pages 1289-1323, November.
    17. Ishise, Hirokazu, 2022. "Optimal long-run inflation rate in an open economy," European Economic Review, Elsevier, vol. 148(C).
    18. Tomohide Mineyama, 2024. "Downward Nominal Wage Rigidity and Determinacy of Equilibrium," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 305-316, February.
    19. Galí, Jordi & Andrade, Philippe & Le Bihan, Hervé & Matheron, Julien, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," CEPR Discussion Papers 12723, Centre for Economic Policy Research.
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    170. Jeff Fuhrer & Giovanni P. Olivei & Eric S. Rosengren & Geoffrey M.B. Tootell, 2018. "Should the Federal Reserve Regularly Evaluate Its Monetary Policy Framework?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 49(2 (Fall)), pages 443-517.
    171. Eusepi, Stefano & Giannoni, Marc P. & Preston, Bruce, 2018. "Some implications of learning for price stability," European Economic Review, Elsevier, vol. 106(C), pages 1-20.
    172. 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.).
    173. Aleksandra Praščević & Milutin Ješić, 2019. "Modeling Macroeconomic Policymakers’ Interactions under Zero Lower Bound Environment: The New Keynesian Theoretical Approach," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 8(1), pages 5-38.
    174. Serguei Maliar & John Taylor & Lilia Maliar, 2016. "The Impact of Alternative Transitions to Normalized Monetary Policy," 2016 Meeting Papers 794, Society for Economic Dynamics.
    175. Lepetyuk, Vadym & Maliar, Serguei, 2019. "When the U.S. catches a cold, Canada sneezes: a lower-bound tale told by deep learning," CEPR Discussion Papers 14025, Centre for Economic Policy Research.
    176. Shutao Cao & Césaire Meh & José-Víctor Ríos-Rull & Yaz Terajima, 2018. "The Welfare Cost of Inflation Revisited: The Role of Financial Innovation and Household Heterogeneity," Staff Working Papers 18-40, Bank of Canada.
    177. 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.
    178. Vaishali Garga, 2020. "Fiscal Expansions in the Era of Low Real Interest Rates," Working Papers 20-11, Federal Reserve Bank of Boston.
    179. Persson, Torsten & Tabellini, Guido, 2024. "Optimal Contracts and Inflation Targets Revisited," Working Paper Series 436, Sveriges Riksbank (Central Bank of Sweden).
    180. Louis Phaneuf & Jean Gardy Victor, 2019. "Long‐Run Inflation and the Distorting Effects of Sticky Wages and Technical Change," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(1), pages 5-42, February.
    181. Dennis Bonam & Bart Hobijn, 2024. "Downward Price Rigidities and Inflationary Relative Demand Shocks," Working Paper Series WP 2024-11, Federal Reserve Bank of Chicago.
    182. Hahn, Volker & Schürle, Annika, 2025. "How does inflation affect different age groups?," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
    183. Bernardino Adão, 2019. "Why is price stability a key goal of central banks?," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    184. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    185. Brand, Claus & Bielecki, Marcin & Penalver, Adrian, 2018. "The natural rate of interest: estimates, drivers, and challenges to monetary policy JEL Classification: E52, E43," Occasional Paper Series 217, European Central Bank.
    186. Gino Cateau, 2017. "Price‐level versus inflation targeting under model uncertainty," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(2), pages 522-540, May.
    187. Abbritti, Mirko & Consolo, Agostino & Weber, Sebastian, 2021. "Endogenous growth, downward wage rigidity and optimal inflation," Working Paper Series 2635, European Central Bank.
    188. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    189. Peter Tulip, 2014. "Fiscal Policy and the Inflation Target," RBA Research Discussion Papers rdp2014-02, Reserve Bank of Australia.
    190. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.
    191. Laurence M. Ball, 2014. "The Case for a Long-Run Inflation Target of Four Percent," IMF Working Papers 2014/092, International Monetary Fund.
    192. Oleksiy Kryvtsov & Rhys R. Mendes, 2015. "The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues," Discussion Papers 15-8, Bank of Canada.
    193. Luca Benati & Juan Pablo Nicolini, 2025. "The Welfare Costs of Inflation Reconsidered," Department of Economics Working Papers 2025_10, Universidad Torcuato Di Tella.
    194. David M. Kemme & Kayhan Koleyni, 2017. "Exchange Rate Regimes and Welfare Losses from Foreign Crises: The Impact of the US Financial Crisis on Mexico," Review of International Economics, Wiley Blackwell, vol. 25(1), pages 132-147, February.
    195. Philip Coyle & Taisuke Nakata, 2019. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," Finance and Economics Discussion Series 2019-036, Board of Governors of the Federal Reserve System (U.S.).
    196. Hashmat Khan & Louis Phaneuf & Jean-Gardy Victor, 2020. "A Tale of Two Major Postwar Business Cycle Episodes," Carleton Economic Papers 20-03, Carleton University, Department of Economics, revised 20 Apr 2020.
    197. Galo Nuño & Philipp Renner & Simon Scheidegger, 2024. "Monetary Policy with Persistent Supply Shocks," CESifo Working Paper Series 11463, CESifo.
    198. Heider, Florian & Leonello, Agnese, 2021. "Side effects of monetary easing in a low interest rate environment: reversal and risk-taking," Research Bulletin, European Central Bank, vol. 87.
    199. Alan S. Blinder & Michael Ehrmann & Jakob de Haan & David-Jan Jansen, 2016. "Necessity as the Mother of Invention: Monetary Policy after the Crisis," NBER Working Papers 22735, National Bureau of Economic Research, Inc.
    200. Lance Kent, 2015. "Relaxing Rational Expectations," Working Papers 159, Economics Department, William & Mary.
    201. Taisuke Nakata & Sebastian Schmidt & Timothy Hills, 2016. "The Risky Steady State and the Interest Rate Lower Bound," 2016 Meeting Papers 39, Society for Economic Dynamics.
    202. Roberto M. Billi, 2020. "Output Gaps and Robust Monetary Policy Rules," International Journal of Central Banking, International Journal of Central Banking, vol. 16(2), pages 125-152, March.
    203. Stephen G. Hall, 2025. "An optimal inflation rate for South Africa," Economic Change and Restructuring, Springer, vol. 58(3), pages 1-29, June.
    204. Ha,Jongrim & Ivanova,Anna & Ohnsorge,Franziska Lieselotte & Unsal Portillo Ocando,Derya Filiz, 2019. "Inflation : Concepts, Evolution, and Correlates," Policy Research Working Paper Series 8738, The World Bank.
    205. Nakata, Taisuke, 2014. "Welfare costs of shifting trend inflation," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 66-78.
    206. İbrahim Özmen & Şerife Özşahin, 2023. "Effects of global energy and price fluctuations on Turkey's inflation: new evidence," Economic Change and Restructuring, Springer, vol. 56(4), pages 2695-2728, August.
    207. Jérémie Cohen‐Setton & Joshua K. Hausman & Johannes F. Wieland, 2017. "Supply‐Side Policies in the Depression: Evidence from France," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(2-3), pages 273-317, March.
    208. Philippon, Thomas & Midrigan, Virgiliu, 2016. "Household Leverage and the Recession," CEPR Discussion Papers 11407, Centre for Economic Policy Research.
    209. Roberto M. Billi & Ulf Söderström & Carl E. Walsh, 2023. "The Role of Money in Monetary Policy at the Lower Bound," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 681-716, June.
    210. Giovanni Di Bartolomeo & Patrizio Tirelli & Nicola Acocella, 2013. "The comeback of inflation as an optimal public finance tool," Working Papers 263, University of Milano-Bicocca, Department of Economics, revised Dec 2013.
    211. Adewumi Samuel & Emeka Nkoro, 2025. "Effect of Trade Liberalization on Inflation in West African Countries," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(3s), pages 4215-4229, June.
    212. Hiroshi Inokuma & Mitsuru Katagiri & Nao Sudo, 2024. "Innovation Choice, Product Life Cycles, and Optimal Trend Inflation," IMES Discussion Paper Series 24-E-17, Institute for Monetary and Economic Studies, Bank of Japan.
    213. S. Boragan Aruoba & Eugene Oue & Felipe Saffie & Jonathan L. Willis, 2023. "Real Rigidities, Firm Dynamics, and Monetary Nonneutrality: The Role of Demand Shocks," FRB Atlanta Working Paper 2023-03, Federal Reserve Bank of Atlanta.
    214. Patrick Kline & Neviana Petkova & Heidi Williams & Owen Zidar, 2018. "Who Profits from Patents? Rent-Sharing at Innovative Firms," NBER Working Papers 25245, National Bureau of Economic Research, Inc.
    215. Tiziano Ropele & Yuriy Gorodnichenko & Olivier Coibion, 2023. "Inflation expectations and misallocation of resources: evidence from Italy," Temi di discussione (Economic working papers) 1437, Bank of Italy, Economic Research and International Relations Area.
    216. Stéphane Dupraz & Emi Nakamura & Jon Steinsson, 2020. "A Plucking Model of Business Cycles," Working papers 748, Banque de France.
    217. Michal Brzoza-Brzezina & Marcin Kolasa & Mateusz Szetela, 2016. "Is Poland at risk of the zero lower bound?," Bank i Kredyt, Narodowy Bank Polski, vol. 47(3), pages 195-226.
    218. Jean-François Rouillard, 2017. "Credit Crunch and Downward Nominal Wage Rigidities," Cahiers de recherche 17-05, Departement d'économique de l'École de gestion à l'Université de Sherbrooke, revised Apr 2019.
    219. Cho, Daeha & Kim, Jung Hyun & Kim, Kwang Hwan & Kim, Suk Joon, 2025. "Optimal trend inflation in an open economy," Journal of Monetary Economics, Elsevier, vol. 149(C).
    220. Sauer, Radek, 2025. "Corporate Taxation in Open Economies," Research Technical Papers 12/RT/25, Central Bank of Ireland.
    221. Coroiu Sorina Ioana, 2015. "Perspectives Of Inflation Targeting, In The Current Economic Context," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 287-292, April.
    222. 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.
    223. Leonardo Melosi & Francesco Bianchi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," 2017 Meeting Papers 110, Society for Economic Dynamics.
    224. Zhu, Sheng & Kavanagh, Ella & O'Sullivan, Niall, 2021. "Uncovering the implicit short-term inflation target of the Bank of England," International Economics, Elsevier, vol. 167(C), pages 120-135.
    225. Stefano Fasani & Giuseppe Pagano Giorgianni & Valeria Patella & Lorenza Rossi, 2025. "Belief Distortions and Uncertainty About Inflation," CESifo Working Paper Series 12209, CESifo.
    226. Martin Bodenstein & Junzhu Zhao, 2019. "On Targeting Frameworks And Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(8), pages 2077-2113, December.
    227. Luca Benati & Juan Pablo Nicolini, 2021. "The Welfare Costs of Inflation," Working Papers 783, Federal Reserve Bank of Minneapolis.
    228. Pierlauro Lopez, 2018. "A New Keynesian Q Theory and the Link Between Inflation and the Stock Market," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 29, pages 85-105, July.
    229. Maliar, Lilia & Taylor, John B., 2024. "Odyssean forward guidance in normal times," Journal of Economic Dynamics and Control, Elsevier, vol. 165(C).
    230. Adam, Klaus & Pfäuti, Oliver & Reinelt, Timo, 2025. "Subjective housing price expectations, falling natural rates, and the optimal inflation target," Journal of Monetary Economics, Elsevier, vol. 149(C).
    231. Apel, Mikael & Armelius, Hanna & Claussen, Carl Andreas, 2017. "The level of the inflation target – a review of the issues," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 2, pages 36-56.
    232. Engin Kara, 2025. "The Natural Rate of Inflation," CESifo Working Paper Series 12306, CESifo.
    233. Bouchaud, Jean-Philippe & Gualdi, Stanislao & Tarzia, Marco & Zamponi, Francesco, 2018. "Optimal inflation target: Insights from an agent-based model," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 12, pages 1-27.

  15. Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2010. "The Optimal Inflation Rate in New Keynesian Models," Working Papers 91, Economics Department, William & Mary.

    Cited by:

    1. Nathaniel Throckmorton & Benjamin Keen & Alexander Richter & William Gavin, 2013. "Global Dynamics at the Zero Lower Bound," 2013 Meeting Papers 839, Society for Economic Dynamics.
    2. Carl E. Walsh, 2011. "The Future of Inflation Targeting," The Economic Record, The Economic Society of Australia, vol. 87(s1), pages 23-36, September.
    3. Robert Amano & Malik Shukayev, 2012. "Risk Premium Shocks and the Zero Bound on Nominal Interest Rates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(8), pages 1475-1505, December.
    4. Xu Zhang, 2018. "Evaluating the Effects of Forward Guidance and Large-scale Asset Purchases," 2018 Meeting Papers 894, Society for Economic Dynamics.
    5. Haroon Mumtaz & Konstantinos Theodoridis, 2015. "Dynamic Effects of Monetary Policy Shocks on Macroeconomic Volatility," Working Papers 760, Queen Mary University of London, School of Economics and Finance.
    6. Hashmat Khan & Louis Phaneuf & Jean Gardy Victor, 2018. "Rules-Based Monetary Policy and the Threat of Indeterminacy When Trend Inflation is Low," Carleton Economic Papers 18-08, Carleton University, Department of Economics, revised 08 Mar 2019.
    7. Magill, Michael & Quinzii, Martine, 2014. "Anchoring expectations of inflation," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 86-105.
    8. 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.).
    9. Olivier Coibion & Yuriy Gorodnichenko, 2013. "Is The Phillips Curve Alive and Well After All? Inflation Expectations and the Missing Disinflation," NBER Working Papers 19598, National Bureau of Economic Research, Inc.
    10. William A. Branch & George W. Evans, 2017. "Unstable Inflation Targets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(4), pages 767-806, June.
    11. Mary C. Daly & Bart Hobijn, 2013. "Downward Nominal Wage Rigidities Bend the Phillips Curve," Working Paper Series 2013-08, Federal Reserve Bank of San Francisco.
    12. Yuriy Gorodnichenko & Jae Song & Dmitriy Stolyarov, 2013. "Macroeconomic Determinants of Retirement Timing," Working Papers wp281, University of Michigan, Michigan Retirement Research Center.
    13. Roman Horvath & Jakub Mateju, 2011. "How are Inflation Targets Set?," Working Papers 2011/06, Czech National Bank, Research and Statistics Department.
    14. Hatcher, Michael C. & Minford, Patrick, 2013. "Stabilization policy, rational expectations and price-level versus inflation targeting: a survey," Cardiff Economics Working Papers E2013/14, Cardiff University, Cardiff Business School, Economics Section.
    15. Billi, Roberto M., 2013. "Nominal GDP Targeting and the Zero Lower Bound: Should We Abandon Inflation Targeting?," Working Paper Series 270, Sveriges Riksbank (Central Bank of Sweden).
    16. Snower, Dennis & Ahrens, Steffen, 2012. "Envy, Guilt, and the Phillips Curve," CEPR Discussion Papers 8796, Centre for Economic Policy Research.
    17. Taisuke Nakata, 2012. "Optimal Fiscal and Monetary Policy with Occasionally Binding Zero Bound Constraints," 2012 Meeting Papers 181, Society for Economic Dynamics.
    18. Angelo Melino, 2011. "Moving Monetary Policy Forward: Why Small Steps - and a Lower Inflation Target - Make Sense for the Bank of Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 319, January.
    19. Julien Matheron & Philippe Andrade & Hervé Le Bihan & Jordi Galí, 2017. "The Optimal Inflation Target and the Natural Rate of Interest," Working Papers 1009, Barcelona School of Economics.
    20. Jiri Bohm & Jan Filacek, 2012. "Price-Level Targeting–A Real Alternative to Inflation Targeting?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 62(1), pages 2-26, February.
    21. 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.
    22. Jinill KIM & Francisco RUGE-MURCIA, 2016. "Extreme Events and Optimal Monetary Policy," Cahiers de recherche 09-2016, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    23. Guido Ascari & Anna Florio, 2012. "Transparency, Expectations Anchoring and the Inflation Target," DEM Working Papers Series 022, University of Pavia, Department of Economics and Management.
    24. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy.
    25. Taisuke Nakata & Sebastian Schmidt, 2015. "Conservatism and Liquidity Traps," Working Papers e101, Tokyo Center for Economic Research.
    26. Olivier Coibion & Yuriy Gorodnichenko & Gee Hee Hong, 2013. "The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications," Staff Working Papers 13-1, Bank of Canada.
    27. Weber, Henning, 2013. "Learning By Doing in New Firms and the Optimal Rate of Inflation," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79761, Verein für Socialpolitik / German Economic Association.
    28. Shutao Cao & Césaire Meh & José-Víctor Ríos-Rull & Yaz Terajima, 2018. "The Welfare Cost of Inflation Revisited: The Role of Financial Innovation and Household Heterogeneity," Staff Working Papers 18-40, Bank of Canada.
    29. Guido Ascari & Argia M. Sbordone, 2013. "The Macroeconomics of Trend Inflation," DEM Working Papers Series 053, University of Pavia, Department of Economics and Management.
    30. 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.
    31. William T. Gavin & Benjamin D. Keen & Michael R. Pakko, 2012. "Taylor-type rules and total factor productivity," Review, Federal Reserve Bank of St. Louis, vol. 94(Jan), pages 41-64.
    32. Alves, Sergio Afonso Lago, 2014. "Lack of divine coincidence in New Keynesian models," Journal of Monetary Economics, Elsevier, vol. 67(C), pages 33-46.
    33. Francesco Bianchi & Leonardo Melosi, 2014. "Escaping the Great Recession," Working Paper Series WP-2014-17, Federal Reserve Bank of Chicago.
    34. Francesco Bianchi & Leonardo Melosi, 2014. "Constrained Discretion and Central Bank Transparency," Working Paper Series WP-2014-16, Federal Reserve Bank of Chicago.
    35. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    36. Yuriy Gorodnichenko & Johannes Wieland & Olivier Coibion, 2012. "The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?," 2012 Meeting Papers 70, Society for Economic Dynamics.
    37. Sergio A. Lago Alves, 2012. "Trend Inflation and the Unemployment Volatility Puzzle," Working Papers Series 277, Central Bank of Brazil, Research Department.
    38. Gauti B. Eggertsson & Neil Mehrotra & Jacob A. Robbins, 2017. "A Model of Secular Stagnation: Theory and Quantitative Evaluation," Working Papers 742, Federal Reserve Bank of Minneapolis.
    39. Klaus Adam & Henning Weber, 2018. "Optimal Trend Inflation," 2018 Meeting Papers 782, Society for Economic Dynamics.
    40. Aleksandra Hałka & Karol Szafranek, 2015. "Whose inflation is it anyway? The inflation spillovers between the euro area and small open economies," NBP Working Papers 223, Narodowy Bank Polski.
    41. 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.
    42. Giovanni Di Bartolomeo & Patrizio Tirelli & Nicola Acocella, 2013. "The comeback of inflation as an optimal public finance tool," Working Papers 263, University of Milano-Bicocca, Department of Economics, revised Dec 2013.
    43. Olmos, Lorena & Sanso Frago, Marcos, 2014. "Monetary policy and growth with trend inflation and financial frictions," MPRA Paper 54606, University Library of Munich, Germany.
    44. Patrick Kline & Neviana Petkova & Heidi Williams & Owen Zidar, 2018. "Who Profits from Patents? Rent-Sharing at Innovative Firms," NBER Working Papers 25245, National Bureau of Economic Research, Inc.
    45. Giannoni, Marc & Preston, Bruce & Eusepi, Stefano, 2012. "Long-Term Debt Pricing and Monetary Policy Transmission under Imperfect Knowledge," CEPR Discussion Papers 8845, Centre for Economic Policy Research.
    46. Iulian Vasile Popescu, 2012. "Price-Level Targeting – A Viable Alternative To Inflation Targeting?," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(4), pages 809-823, December.
    47. Guido Ascari & Louis Phaneuf & Eric Sims, 2015. "On the Welfare and Cyclical Implications of Moderate Trend Inflation," Economics Series Working Papers 763, University of Oxford, Department of Economics.
    48. Kevin J. Lansing, 2019. "Endogenous Forecast Switching Near the Zero Lower Bound," Working Paper Series 2017-24, Federal Reserve Bank of San Francisco.

Articles

  1. Augustus Kmetz & John Mondragon & Johannes F. Wieland, 2022. "Remote Work and Housing Demand," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2022(26), pages 1-5, September.

    Cited by:

    1. Zheng Liu & Mollie Pepper, 2023. "Can Monetary Policy Tame Rent Inflation?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2023(04), pages 1-6, February.
    2. Norman Guo & Wei Jiang & Yaswanth Pothuru & Baozhong Yang, 2026. "Mapping the Midweek Mountain: The New Geography of Hybrid Work," Papers 2603.18440, arXiv.org.
    3. Sandro Heiniger & Winfried Koeniger & Michael Lechner, 2022. "The Heterogeneous Response of Real Estate Asset Prices to a Global Shock," CESifo Working Paper Series 10083, CESifo.
    4. Alan Feng & Haishi Li & Yulin Wang, 2023. "We Are All in the Same Boat: Cross-Border Spillovers of Climate Shocks through International Trade and Supply Chain," CESifo Working Paper Series 10402, CESifo.
    5. Ketter, Laura & Morris, Todd & Yu, Lizi, 2025. "A New Equilibrium: COVID-19 Lockdowns and WFH Persistence," IZA Discussion Papers 17975, IZA Network @ LISER.
    6. Jan K. Brueckner & David R. Agrawal, 2025. "Work-from-Home and Wage Convergence Across Cities: An Exploration," CESifo Working Paper Series 12150, CESifo.
    7. Brueckner, Jan K. & Sayantani, S., 2023. "Intercity impacts of work-from-home with both remote and non-remote workers," Journal of Housing Economics, Elsevier, vol. 59(PB).
    8. Li, Wenli & Su, Yichen, 2026. "The great reshuffle: Remote work and residential sorting," European Economic Review, Elsevier, vol. 182(C).
    9. Laura Ketter & Todd Morris & Lizi Yu, 2025. "A new equilibrium: COVID-19 lockdowns and WFH persistence," Papers 2506.16671, arXiv.org.
    10. Brueckner, Jan K., 2025. "Work-from-home and cities: An elementary spatial model," Regional Science and Urban Economics, Elsevier, vol. 111(C).
    11. Steven Bond-Smith & Philip McCann, 2022. "The work-from-home revolution and the performance of cities," Working Papers 2022-6R, University of Hawaii Economic Research Organization, University of Hawaii at Manoa, revised Oct 2022.
    12. Stijn Van Nieuwerburgh, 2023. "The remote work revolution: Impact on real estate values and the urban environment: 2023 AREUEA Presidential Address," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 51(1), pages 7-48, January.
    13. Parida, Sitikantha, 2025. "Early-pandemic repricing of housing attributes: evidence from Middlesex County, Boston suburbs," Finance Research Letters, Elsevier, vol. 86(PD).
    14. Erdsiek, Daniel & Rost, Vincent, 2022. "Working from home after COVID-19: Firms expect a persistent and intensive shift," ZEW Expert Briefs 22-06, ZEW - Leibniz Centre for European Economic Research.
    15. Diamond, William & Landvoigt, Tim & Sánchez, Germán Sánchez, 2025. "Printing away the mortgages: Fiscal inflation and the post-covid boom," Journal of Financial Economics, Elsevier, vol. 171(C).
    16. Arpit Gupta & Vrinda Mittal & Stijn Van Nieuwerburgh, 2022. "Work From Home and the Office Real Estate Apocalypse," NBER Working Papers 30526, National Bureau of Economic Research, Inc.
    17. Burdett, Ashley & Etheridge, Ben & Wang, Yikai & Tang, Li, 2023. "Worker productivity during Covid-19 and adaptation to working from home," ISER Working Paper Series 2023-04, Institute for Social and Economic Research.
    18. Jinwon Kim & Dede Long, 2022. "What Flattened the House-Price Gradient? The Role of Work-from-Home and Decreased Commuting Cost," Working Papers 2205, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).

  2. Alisdair McKay & Johannes F. Wieland, 2022. "Forward Guidance and Durable Goods Demand," American Economic Review: Insights, American Economic Association, vol. 4(1), pages 106-122, March.
    See citations under working paper version above.
  3. Alisdair McKay & Johannes F. Wieland, 2021. "Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy," Econometrica, Econometric Society, vol. 89(6), pages 2717-2749, November.
    See citations under working paper version above.
  4. Hausman, Joshua K. & Rhode, Paul W. & Wieland, Johannes F., 2021. "Farm Product Prices, Redistribution, and the Early U.S. Great Depression," The Journal of Economic History, Cambridge University Press, vol. 81(3), pages 649-687, September.
    See citations under working paper version above.
  5. Gabriel Chodorow-Reich & Johannes Wieland, 2020. "Secular Labor Reallocation and Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 128(6), pages 2245-2287.
    See citations under working paper version above.
  6. Johannes F. Wieland & Mu‐Jeung Yang, 2020. "Financial Dampening," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(1), pages 79-113, February.
    See citations under working paper version above.
  7. Joshua K. Hausman & Paul W. Rhode & Johannes F. Wieland, 2019. "Recovery from the Great Depression: The Farm Channel in Spring 1933," American Economic Review, American Economic Association, vol. 109(2), pages 427-472, February.
    See citations under working paper version above.
  8. Johannes F. Wieland, 2019. "Are Negative Supply Shocks Expansionary at the Zero Lower Bound?," Journal of Political Economy, University of Chicago Press, vol. 127(3), pages 973-1007.

    Cited by:

    1. Choi, Sangyup & Shin, Junhyeok & Yoo, Seung Yong, 2022. "Are government spending shocks inflationary at the zero lower bound? New evidence from daily data," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    2. Pablo Cuba-Borda & Sanjay R. Singh, 2022. "Understanding Persistent ZLB: Theory and Assessment," Working Papers 346, University of California, Davis, Department of Economics.
    3. Liu, Shih-fu & Huang, Wei-chi & Lai, Ching-chong, 2022. "The Paradox of Toil at the Zero Lower Bound in a TANK Model," European Economic Review, Elsevier, vol. 148(C).
    4. Paweł Kopiec, 2023. "Frictional product market, supply chains and the impact of government expenditures on private consumption," Bank i Kredyt, Narodowy Bank Polski, vol. 54(3), pages 285-308.
    5. Olivier Coibion & Yuriy Gorodnichenko & Tiziano Ropele, 2018. "Inflation Expectations and Firm Decisions: New Causal Evidence," NBER Working Papers 25412, National Bureau of Economic Research, Inc.
    6. Martin Wolf & Luca Fornaro, 2020. "The scars of supply shocks: Implications for monetary policy," Working Papers 1214, Barcelona School of Economics.
    7. Iwata, Yasuharu, 2026. "Public Signal Discounting: Fiscal Policy, Exchange Rates, and Firm-Level Decisions in Japan," MPRA Paper 129006, University Library of Munich, Germany.
    8. Mr. Gee Hee Hong & Rahul Anand & Yaroslav Hul, 2019. "Achieving the Bank of Japan’s Inflation Target," IMF Working Papers 2019/229, International Monetary Fund.
    9. Yihao Xue & Qiaoyu Liang & Bing Tong, 2022. "The Effects of Energy Supply Shocks and Interest Rate Liberalization in China," CFDS Discussion Paper Series 2022/1, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    10. Pavel S. Kapinos, 2021. "Monetary policy news and systemic risk at the zero lower bound," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 4932-4945, October.
    11. Alessandro Cantelmo, 2022. "Rare Disasters, the Natural Interest Rate and Monetary Policy," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 84(3), pages 473-496, June.
    12. Wataru Miyamoto & Thuy Lan Nguyen & Dmitry Sergeyev, 2022. "Oil Shocks when Interest Rates Are at the Zero Lower Bound," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2022(34), pages 1-5, November.
    13. Alexander Mechanick & Jacob P. Weber, 2024. "The Countercyclical Benefits of Regulatory Costs," Staff Reports 1109, Federal Reserve Bank of New York.
    14. Chunbing Cai & Jordan Roulleau-Pasdeloup & Zhongxi Zheng, 2025. "Endogenous Persistence at the Effective Lower Bound," Papers 2501.06473, arXiv.org, revised Sep 2025.
    15. Takahashi, Yuta & Takayama, Naoki, 2022. "On the Relationship Between Interest Rate Policy & Debt Sustainability," Discussion Paper Series 731, Institute of Economic Research, Hitotsubashi University.
    16. Ratliff, David J. & Philipps, Collin S., 2025. "Which corporate leaders matter to financial markets?," International Review of Financial Analysis, Elsevier, vol. 97(C).
    17. Roman Horvath & Lorant Kaszab & Ales Marsal & Katrin Rabitsch, 2019. "Determinants of Fiscal Multipliers Revisited," Department of Economics Working Papers wuwp294, Vienna University of Economics and Business, Department of Economics.
    18. Pascal Michaillat & Emmanuel Saez, 2019. "An Economical Business-Cycle Model," Papers 1912.07163, arXiv.org, revised Apr 2021.
    19. Gorodnichenko, Yuriy & Sergeyev, Dmitriy, 2021. "Zero Lower Bound on Inflation Expectations," IZA Discussion Papers 14853, IZA Network @ LISER.
    20. Eskelinen, Maria & Gibbs, Christopher G. & McClung, Nigel, 2024. "Resolving new keynesian puzzles," Bank of Finland Research Discussion Papers 5/2024, Bank of Finland.
    21. Aymeric Ortmans, 2020. "Evolving Monetary Policy in the Aftermath of the Great Recession," Documents de recherche 20-01, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    22. Christiane Baumeister, 2021. "Measuring Market Expectations," Working Papers 202163, University of Pretoria, Department of Economics.
    23. Wilhelm, Stefan, 2023. "Efficiency of short-time work schemes and the role of monetary policy," Journal of Macroeconomics, Elsevier, vol. 78(C).
    24. Li, Erica X.N. & Zha, Tao & Zhang, Ji & Zhou, Hao, 2022. "Does fiscal policy matter for stock-bond return correlation?," Journal of Monetary Economics, Elsevier, vol. 128(C), pages 20-34.
    25. Tong, Bing, 2021. "The effects of capacity reduction policy under the interest rate peg in China," Journal of Asian Economics, Elsevier, vol. 74(C).
    26. Jonathan Swarbrick, 2021. "Occasionally Binding Constraints in Large Models: A Review of Solution Methods," Discussion Papers 2021-5, Bank of Canada.
    27. Funashima, Yoshito, 2020. "Global economic activity indexes revisited," Economics Letters, Elsevier, vol. 193(C).
    28. Jordan Roulleau‐Pasdeloup & Anastasia Zhutova, 2022. "Labor Market Policies in a Deep Recession: Lessons from Hoover's Policies during the U.S. Great Depression," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(1), pages 247-283, February.
    29. James D. Hamilton, 2021. "Measuring global economic activity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 36(3), pages 293-303, April.
    30. Sardar, Naafey & Sharma, Shahil, 2022. "Oil prices & stock returns: Modeling the asymmetric effects around the zero lower bound," Energy Economics, Elsevier, vol. 107(C).
    31. Jørgensen, Peter L. & Ravn, Søren H., 2022. "The inflation response to government spending shocks: A fiscal price puzzle?," European Economic Review, Elsevier, vol. 141(C).
    32. Takahashi, Yuta & Takayama, Naoki, 2022. "Hidden Stagflation," Discussion Paper Series 733, Institute of Economic Research, Hitotsubashi University.
    33. Valerie A. Ramey, 2020. "The Macroeconomic Consequences of Infrastructure Investment," NBER Chapters, in: Economic Analysis and Infrastructure Investment, pages 219-268, National Bureau of Economic Research, Inc.
    34. Andrew Glover & Jose Mustre-del-Rio, 2021. "What Happens When the Minimum Wage Rises? It Depends on Monetary Policy," Economic Review, Federal Reserve Bank of Kansas City, vol. 106(no.3), pages 5-24, September.
    35. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    36. Yangyang Ji, 2021. "Are Technology Shocks More Expansionary at the ZLB?," CESifo Economic Studies, CESifo Group, vol. 67(3), pages 296-317.
    37. Liu, Shih-fu & Huang, Wei-chi & Lai, Ching-chong, 2020. "Could Fiscal Policies Overcome a Deep Recession at the Zero Lower Bound?," MPRA Paper 99842, University Library of Munich, Germany.
    38. Wataru Miyamoto & Thuy Lan Nguyen & Dmitry Sergeyev, 2023. "How Oil Shocks Propagate: Evidence on the Monetary Policy Channel," Working Paper Series 2024-06, Federal Reserve Bank of San Francisco.
    39. Brendon, Charles & Paustian, Matthias & Yates, Tony, 2020. "Self-fulfilling recessions at the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 213-232.
    40. Bing Tong, 2020. "Capacity Reduction Policy Under the Interest Rate Peg in China," CFDS Discussion Paper Series 2020/2, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    41. Maryam Movahedifar & Hossein Hassani & Masoud Yarmohammadi & Mahdi Kalantari & Rangan Gupta, 2021. "A robust approach for outlier imputation: Singular Spectrum Decomposition," Working Papers 202164, University of Pretoria, Department of Economics.
    42. Kanazawa, Nobuyuki, 2020. "Radial basis functions neural networks for nonlinear time series analysis and time-varying effects of supply shocks," Journal of Macroeconomics, Elsevier, vol. 64(C).
    43. Diba, Behzad & Loisel, Olivier, 2021. "Pegging the interest rate on bank reserves: A resolution of New Keynesian puzzles and paradoxes," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 230-244.
    44. Javier Andres & Oscar Arce & Jesus Fernandez-Villaverde & Samuel Hurtado, 2022. "Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union," International Journal of Central Banking, International Journal of Central Banking, vol. 18(5), pages 1-47, December.
    45. Abo-Zaid, Salem & Kamara, Ahmed H., 2020. "Credit Constraints and the Government Spending Multiplier," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).

  9. Jérémie Cohen‐Setton & Joshua K. Hausman & Johannes F. Wieland, 2017. "Supply‐Side Policies in the Depression: Evidence from France," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(2-3), pages 273-317, March.
    See citations under working paper version above.
  10. Marc Dordal i Carreras & Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2016. "Infrequent but Long-Lived Zero Lower Bound Episodes and the Optimal Rate of Inflation," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 497-520, October.

    Cited by:

    1. Galo Nuño, 2025. "Three Theories of Natural Rate Dynamics," CESifo Working Paper Series 11878, CESifo.
    2. Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño Barrau & Omar Rachedi, 2024. "Inequality and the zero lower bound," BIS Working Papers 1160, Bank for International Settlements.
    3. Tomohide Mineyama, 2024. "Downward Nominal Wage Rigidity and Determinacy of Equilibrium," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 305-316, February.
    4. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    5. Strobel, Johannes & Lee, Gabriel & Dorofeenko, Victor & Salyer, Kevin, 2019. "Time-Varying Risk Shocks and the Zero Lower Bound," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203491, Verein für Socialpolitik / German Economic Association.
    6. Proaño, Christian R. & Lojak, Benjamin, 2021. "Monetary Policy with a State-Dependent Inflation Target in a Behavioral Two-Country Monetary Union Model," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    7. Darracq Pariès, Matthieu & Kok, Christoffer & Rottner, Matthias, 2023. "Reversal interest rate and macroprudential policy," European Economic Review, Elsevier, vol. 159(C).
    8. Hauptmeier, Sebastian & Kamps, Christophe & Radke, Lucas, 2022. "Counter-cyclical fiscal rules and the zero lower bound," Working Paper Series 2715, European Central Bank.
    9. Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021. "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers) 660, Bank of Italy, Economic Research and International Relations Area.
    10. Robert Kurtzman & David Zeke, 2020. "Misallocation Costs of Digging Deeper into the Central Bank Toolkit," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 38, pages 94-126, October.
    11. Tomohide Mineyama & Wataru Hirata & Kenji Nishizaki, 2019. "Inflation and Social Welfare in a New Keynesian Model: The Case of Japan and the U.S," Bank of Japan Working Paper Series 19-E-10, Bank of Japan.
    12. Robert Amano & Thomas Carter & Sylvain Leduc, 2019. "Precautionary Pricing: The Disinflationary Effects of ELB Risk," Working Paper Series 2019-26, Federal Reserve Bank of San Francisco.
    13. Gerke, Rafael & Giesen, Sebastian & Kienzler, Daniel, 2020. "Interest rate pegs and the reversal puzzle: On the role of anticipation," Discussion Papers 50/2020, Deutsche Bundesbank.
    14. Deak, S. & Levine, P. & Mirza, A. & Pearlman, J., 2019. "Designing Robust Monetary Policy Using Prediction Pools," Working Papers 19/11, Department of Economics, City St George's, University of London.
    15. 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.).
    16. Ahmed, Rashad, 2023. "Global commodity prices and macroeconomic fluctuations in a low interest rate environment," Energy Economics, Elsevier, vol. 127(PB).
    17. Cho, Daeha & Kim, Jung Hyun & Kim, Kwang Hwan & Kim, Suk Joon, 2025. "Optimal trend inflation in an open economy," Journal of Monetary Economics, Elsevier, vol. 149(C).

  11. Joshua K. Hausman & Johannes F. Wieland, 2015. "Overcoming the Lost Decades? Abenomics after Three Years," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 385-431.

    Cited by:

    1. Takuji Kawamoto & Moe Nakahama, 2017. "Why Did the BOJ Not Achieve the 2 Percent Inflation Target with a Time Horizon of About Two Years? -- Examination by Time Series Analysis --," Bank of Japan Working Paper Series 17-E-10, Bank of Japan.
    2. Yoichi Tsuchiya, 2021. "Crises, market shocks, and herding behavior in stock price forecasts," Empirical Economics, Springer, vol. 61(2), pages 919-945, August.
    3. Yixiao Jiang & George K. Zestos & Zachary Timmerman, 2020. "A Vector Error Correction Model for Japanese Real Exports," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(3), pages 297-311, September.
    4. Fructuoso Borrallo Egea & Pedro del Río López, 2021. "Monetary policy strategy and inflation in Japan," Occasional Papers 2116, Banco de España.
    5. Michau, Jean-Baptiste, 2019. "Monetary and fiscal policy in a liquidity trap with inflation persistence," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 1-28.
    6. Markus Heckel & Kiyohiko G. Nishimura, 2022. "Unconventional Monetary Policy through Open Market Operations: A Principal Component Analysis," Asian Economic Papers, MIT Press, vol. 21(1), pages 1-28, Winter/Sp.
    7. Fiorenza Venturini, 2016. "Are Estimates of Fiscal Multipliers Truly Reliable? Some Observations Starting from the Case of Japan," Centro Sraffa Working Papers CSWP23, Centro di Ricerche e Documentazione 'Piero Sraffa'.
    8. Kosuke Aoki & Kozo Ueda, 2025. "Survey of the effects of unconventional monetary policy in Japan," The Japanese Economic Review, Springer, vol. 76(3), pages 587-619, July.
    9. Baines, Joseph & Hager, Sandy Brian, 2019. "Financial Crisis, Inequality, and Capitalist Diversity: A Critique of the Capital as Power Model of the Stock Market," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Online Fi.
    10. Rosa Ferrentino & Luca Vota, 2025. "A statistical-mathematical analysis of the macroeconomic effects of long-memory total factor productivity," Quality & Quantity: International Journal of Methodology, Springer, vol. 59(6), pages 5795-5835, December.
    11. Ryuzo Miyao & Tatsuyoshi Okimoto, 2020. "Regime shifts in the effects of Japan’s unconventional monetary policies," Manchester School, University of Manchester, vol. 88(6), pages 749-772, December.
    12. Fructuoso Borrallo Egea & Pedro del Río López, 2021. "Estrategia de política monetaria e inflación en Japón," Occasional Papers 2116, Banco de España.
    13. Rodnyansky, A., 2018. "(Un)Competitive Devaluations and Firm Dynamics," Cambridge Working Papers in Economics 1888, Faculty of Economics, University of Cambridge.
    14. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    15. Andrea De Michelis & Matteo Iacoviello, 2016. "Raising an Inflation Target : The Japanese Experience with Abenomics," International Finance Discussion Papers 1168, Board of Governors of the Federal Reserve System (U.S.).
    16. Markus Heckel & Kiyohiko G. Nishimura, 2020. "Unconventional Monetary Policy through Open Market Operations: A Principal Component Analysis," CARF F-Series CARF-F-501, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    17. Bank for International Settlements, 2019. "Unconventional monetary policy tools: a cross-country analysis," CGFS Papers, Bank for International Settlements, number 63.
    18. Christensen, Jens H.E. & Spiegel, Mark M., 2022. "Monetary reforms and inflation expectations in Japan: Evidence from inflation-indexed bonds," Journal of Econometrics, Elsevier, vol. 231(2), pages 410-431.

  12. Joshua K. Hausman & Johannes F. Wieland, 2014. "Abenomics: Preliminary Analysis and Outlook," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 45(1 (Spring), pages 1-76.

    Cited by:

    1. Francesco D’Acunto & Daniel Hoang & Michael Weber, 2016. "The Effect of Unconventional Fiscal Policy on Consumption Expenditure," NBER Working Papers 22563, National Bureau of Economic Research, Inc.
    2. Gauti Eggertsson & Neil Mehrotra & Sanjay Singh & Lawrence Summers, 2016. "A Contagious Malady? Open Economy Dimensions of Secular Stagnation," 2016 Meeting Papers 1701, Society for Economic Dynamics.
    3. Leeper, E.M. & Leith, C., 2016. "Understanding Inflation as a Joint Monetary–Fiscal Phenomenon," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2305-2415, Elsevier.
    4. Yoichi Tsuchiya, 2021. "Crises, market shocks, and herding behavior in stock price forecasts," Empirical Economics, Springer, vol. 61(2), pages 919-945, August.
    5. Ryuzo MIYAO & Tatsuyoshi OKIMOTO, 2017. "The Macroeconomic Effects of Japan's Unconventional Monetary Policies," Discussion papers 17065, Research Institute of Economy, Trade and Industry (RIETI).
    6. Sébastien Lechevalier & Brieuc Monfort, 2016. "Abenomics: Has it worked? Will it fail?," Working Papers halshs-01415428, HAL.
    7. Renzhi, Nuobu, 2022. "Do house prices play a role in unconventional monetary policy transmission in Japan?," Journal of Asian Economics, Elsevier, vol. 83(C).
    8. Campbell Leith & Eric Leeper, 2016. "Understanding Inflation as a Joint Monetary-Fiscal Phenomenon," Working Papers 2016_01, Business School - Economics, University of Glasgow.
    9. Kozo Ueda & Yoshiyuki Nakazono & Ippei Fujiwara, 2014. "Policy Regime Change against Chronic Deflation? Policy option under long-term liquidity trap," AJRC Working Papers 1402, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    10. Jean-Baptiste Michau, 2022. "The Trilemma for Low Interest Rate Macroeconomics," Working Papers 2022-19, Center for Research in Economics and Statistics.
    11. Michaelis, Henrike & Watzka, Sebastian, 2017. "Are there differences in the effectiveness of quantitative easing at the zero-lower-bound in Japan over time?," Journal of International Money and Finance, Elsevier, vol. 70(C), pages 204-233.
    12. Wenti Du, 2021. "News and Market Efficiency in the Japanese Stock Market," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 22(3), pages 306-319, July.
    13. Gabriel P. Mathy & Matthew Jaremski, 2016. "How Was the Quantitative Easing Program of the 1930s Unwound?," Working Papers 2016-01, American University, Department of Economics.
    14. Claudio Borio & Anna Zabai, 2016. "Unconventional monetary policies: a re-appraisal," BIS Working Papers 570, Bank for International Settlements.
    15. Michaelis, Henrike & Watzka, Sebastian, 2014. "Are there Differences in the Effectiveness of Quantitative Easing in Japan over Time?," Discussion Papers in Economics 21087, University of Munich, Department of Economics.
    16. Hiroaki Miyamoto, 2014. "Cyclical behavior of real wages in Japan," Working Papers SDES-2014-16, Kochi University of Technology, School of Economics and Management, revised Nov 2014.
    17. Joshua K. Hausman & Johannes F. Wieland, 2015. "Overcoming the Lost Decades? Abenomics after Three Years," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 385-431.
    18. Yixiao Jiang & George K. Zestos & Zachary Timmerman, 2020. "A Vector Error Correction Model for Japanese Real Exports," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(3), pages 297-311, September.
    19. Fructuoso Borrallo Egea & Pedro del Río López, 2021. "Monetary policy strategy and inflation in Japan," Occasional Papers 2116, Banco de España.
    20. Justyna Franc-Dąbrowska & Igor Vaverka & Magdalena Daria Vaverková, 2026. "Shrinkflation across borders: examining Japan’s response and global implications amid rising inflation," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 73(1), pages 1-22, June.
    21. Saima Liaqat & Khalid Khan & Po Bunnika, 2018. "China9apos9s Consumption Function: An Empirical Test of Absolute and Permanent Income Hypothesis," Global Economics Review, Humanity Only, vol. 3(1), pages 90-97, June.
    22. Takatoshi Ito, 2021. "An Assessment of Abenomics: Evolution and Achievements," Asian Economic Policy Review, Japan Center for Economic Research, vol. 16(2), pages 190-219, July.
    23. Effah Nyamekye, Gabriel & Adusei Poku, Eugene, 2017. "What is the effect of inflation on consumer spending behaviour in Ghana?," MPRA Paper 81081, University Library of Munich, Germany.
    24. Thomas Mayer & Gunther Schnabl, 2022. "Japan's Low Inflation Conundrum," CESifo Working Paper Series 9821, CESifo.
    25. Kosuke Aoki & Kozo Ueda, 2025. "Survey of the effects of unconventional monetary policy in Japan," The Japanese Economic Review, Springer, vol. 76(3), pages 587-619, July.
    26. Eric M. Leeper, 2015. "Fiscal Analysis is Darned Hard," NBER Working Papers 21822, National Bureau of Economic Research, Inc.
    27. Chu, Xiaojun & Zhou, Haigang, 2026. "The impact of investor attention to the federal reserve on jumps in China’s stock market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    28. Hiroshi Ugai, "undated". "Transmission Channels and Welfare Implications of Unconventional Monetary Easing Policy in Japan," Working Papers e102, Tokyo Center for Economic Research.
    29. Rossi, Barbara, 2019. "Identifying and Estimating the Effects of Unconventional Monetary Policy: How to Do It And What Have We Learned?," CEPR Discussion Papers 14064, Centre for Economic Policy Research.
    30. Ryuzo Miyao & Tatsuyoshi Okimoto, 2020. "Regime shifts in the effects of Japan’s unconventional monetary policies," Manchester School, University of Manchester, vol. 88(6), pages 749-772, December.
    31. Pooja Kapoor & Sujata Kar, 2023. "A review of inflation expectations and perceptions research in the past four decades: a bibliometric analysis," International Economics and Economic Policy, Springer, vol. 20(2), pages 279-302, May.
    32. Jamal I. Haidar & Takeo Hoshi, 2015. "Implementing Structural Reforms in Abenomics: How to Reduce the Cost of Doing Business in Japan," NBER Working Papers 21507, National Bureau of Economic Research, Inc.
    33. Michael Weber & Daniel Hoang & Francesco D'Acunto, 2015. "Inflation Expectations and Consumption Expenditure," 2015 Meeting Papers 1266, Society for Economic Dynamics.
    34. Pablo A. Cuba-Borda & Sanjay R. Singh, 2023. "Understanding Persistent ZLB: Theory and Assessment," Working Paper Series 2024-03, Federal Reserve Bank of San Francisco.
    35. Francesco D'Acunto & Daniel Hoang & Michael Weber & Michael Weber, 2016. "Unconventional Fiscal Policy, Inflation Expectations, and Consumption Expenditure," CESifo Working Paper Series 5793, CESifo.
    36. Gunther Schnabl & Taiki Murai, 2024. "Japan’s Low Inflation from a Quantity Theory Perspective," CESifo Working Paper Series 11476, CESifo.
    37. Gauti B. Eggertsson & Neil R. Mehrotra & Jacob A. Robbins, 2017. "A Model of Secular Stagnation: Theory and Quantitative Evaluation," NBER Working Papers 23093, National Bureau of Economic Research, Inc.
    38. Dekle, Robert & Hamada, Koichi, 2015. "Japanese monetary policy and international spillovers," Journal of International Money and Finance, Elsevier, vol. 52(C), pages 175-199.
    39. Kondo, Yoshihiro & Nakazono, Yoshiyuki & Ota, Rui & Sui, Qing-Yuan, 2020. "Heterogeneous impacts of Abenomics on the stock market: A Fund flow analysis," Journal of the Japanese and International Economies, Elsevier, vol. 55(C).
    40. Christian Dreger, 2017. "Long-term growth perspectives in Japan and the Euro area," Asia Europe Journal, Springer, vol. 15(4), pages 363-375, December.
    41. Takahashi, Yuta & Takayama, Naoki, 2022. "Hidden Stagflation," Discussion Paper Series 733, Institute of Economic Research, Hitotsubashi University.
    42. Gauti B. Eggertsson & Sergey K. Egiev, 2024. "Liquidity Traps: A Unified Theory of the Great Depression and Great Recession," NBER Working Papers 33195, National Bureau of Economic Research, Inc.
    43. Opeoluwa Adeniyi Adeosun & Mosab I. Tabash & Xuan Vinh Vo & Suhaib Anagreh, 2023. "Uncertainty measures and inflation dynamics in selected global players: a wavelet approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(4), pages 3389-3424, August.
    44. Gianluca Benigno & Luca Fornaro, 2018. "Stagnation Traps," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(3), pages 1425-1470.
    45. Michau, Jean-Baptiste, 2025. "Fiscal policy under secular stagnation: An optimal pump-priming strategy," Journal of Economic Dynamics and Control, Elsevier, vol. 175(C).
    46. Ibrahim Ayoade Adekunle & Sheriffdeen Adewale Tella & Oluwaseyi Adedayo Adelowokan, 2021. "Macroeconomic policy volatility and household consumption in Africa," SN Business & Economics, Springer, vol. 1(3), pages 1-22, March.
    47. Ippei Fujiwara & Yoshiyuki Nakazono & Kozo Ueda, 2015. "Policy Regime Change Against Chronic Deflation?," Working Papers halshs-01545830, HAL.
    48. Christensen, Jens H.E. & Spiegel, Mark M., 2022. "Monetary reforms and inflation expectations in Japan: Evidence from inflation-indexed bonds," Journal of Econometrics, Elsevier, vol. 231(2), pages 410-431.
    49. Evelyne Dourille-Feer, 2015. "Can the magic of Abenomics succeed?," Working Papers 2015-24, CEPII research center.
    50. Valéria Szekeres & Aleksandra Szczepańska, 2015. "Abenomics: a Way to Accelerate the Japanese Economic Growth?," Proceedings- 11th International Conference on Mangement, Enterprise and Benchmarking (MEB 2015),, Óbuda University, Keleti Faculty of Business and Management.
    51. Nao Sudo & Masaki Tanaka, 2018. "Do Market Segmentation and Preferred Habitat Theories Hold in Japan? : Quantifying Stock and Flow Effects of Bond Purchases," Bank of Japan Working Paper Series 18-E-16, Bank of Japan.
    52. Jeremie Cohen-Setton & Joshua K. Hausman & Johannes F. Wieland, 2016. "Supply-Side Policies in the Depression: Evidence from France," NBER Working Papers 22140, National Bureau of Economic Research, Inc.

  13. Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2012. "The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(4), pages 1371-1406.
    See citations under working paper version above.

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