Testing for Indeterminacy: An Application to U.S. Monetary Policy

By Thomas A. Lubik and Frank Schorfheide

American Economic Review, March 2004

This paper considers a prototypical New Keynesian model, in which the equilibrium is undetermined if monetary policy is "passive." The likelihood-based estimation of dynamic equilibrium models is extended to allow for indeterminacies and sunspot fluctuati...

The Fed Response to Equity Prices and Inflation

By Bill Dupor and Timothy Conley

American Economic Review, May 2004

Risk and Uncertainty in Monetary Policy

By Alan Greenspan

American Economic Review, May 2004

Panel Discussion

By Martin Feldstein, Mervyn King, and Janet L. Yellen

American Economic Review, May 2004

Conducting Monetary Policy at Very Low Short-Term Interest Rates

By Ben S. Bernanke and Vincent R. Reinhart

American Economic Review, May 2004

Improving Social Security's Progressivity and Solvency with Hybrid Indexing

By Robert Pozen, Sylvester J. Schieber, and John B. Shoven

American Economic Review, May 2004

The Case for Open-Market Purchases in a Liquidity Trap

By Alan J. Auerbach and Maurice Obstfeld

American Economic Review, March 2005

Prevalent thinking about liquidity traps suggests that the perfect substitutability of money and bonds at a zero short-term nominal interest rate renders open-market operations ineffective for achieving macroeconomic stabilization goals. We show that even...

The 1918 Influenza Pandemic and Subsequent Health Outcomes: An Analysis of SIPP Data

By Douglas Almond and Bhashkar Mazumder

American Economic Review, May 2005

Neuroeconomic Foundations of Trust and Social Preferences: Initial Evidence

By Ernst Fehr, Urs Fischbacher, and Michael Kosfeld

American Economic Review, May 2005

Fear and Greed in Financial Markets: A Clinical Study of Day-Traders

By Andrew W. Lo, Dmitry V. Repin, and Brett N. Steenbarger

American Economic Review, May 2005

The Regulatory Record of the Greenspan Fed

By Charles W. Calomiris

American Economic Review, May 2006

The Greenspan Era: Discretion, Rather than Rules

By Benjamin M. Friedman

American Economic Review, May 2006

A Letter to Ben Bernanke

By N. Gregory Mankiw

American Economic Review, May 2006

Gender and Performance: Evidence from School Assignment by Randomized Lottery

By Justine S. Hastings, Thomas J. Kane, and Douglas O. Staiger

American Economic Review, May 2006

Skin-Tone Effects among African Americans: Perceptions and Reality

By Joni Hersch

American Economic Review, May 2006

Price Changes in the Euro Area and the United States: Some Facts from Individual Consumer Price Data

By Emmanuel Dhyne, Luis J. Alvarez, Herve Le Bihan, Giovanni Veronese, Daniel Dias, Johannes Hoffmann, Nicole Jonker, Patrick Lunnemann, Fabio Rumler, and Jouko Vilmunen

Journal of Economic Perspectives, Spring 2006

Prices of goods and services do not adjust immediately in response to changing demand and supply conditions. This paper characterizes the average frequency and size of price changes in the euro area and its member countries, investigates the determinants ...

Notes

Journal of Economic Perspectives, Spring 2006

Credibility of Optimal Monetary Delegation: Comment

By John Driffill and Zeno Rotondi

American Economic Review, September 2006

The Macroeconomist as Scientist and Engineer

[Symposium: Macroeconomic Lessons]

By N. Gregory Mankiw

Journal of Economic Perspectives, Fall 2006

The subfield of macroeconomics was born, not as a science, but more as a type of engineering. The problem that gave birth to our field was the Great Depression. God put macroeconomists on earth not to propose and test elegant theories but to solve practic...

The European Central Bank, the Euro, and Global Financial Markets

[Symposium: The Euro]

By Kathryn M. E. Dominguez

Journal of Economic Perspectives, Fall 2006

The economic case for European monetary union was shaky at best when it was first discussed 35 years ago. Europe's leaders felt that monetary union was the capstone to their efforts to create an integrated Europe, and much to the rest of the world's surpr...