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Monetary Theory

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This RePEc Biblio topic is edited by Johanna L. Francis (pfr82). It was first published on 2017-07-01 15:57:22 and last updated on 2019-12-27 12:22:43.

Introduction by the editor

This bibliography will focus on recent work that deals with current issues in Monetary Economics. Update (Dec 2019) the bibliography lists papers dealing with inflation expectations and the future of forward guidance. Update (July 2017)" the bibliography now lists papers dealing with post-crisis issues in monetary theory such as potential changes in the natural interest rate, improvements in modeling monetary policy at the ZLB, modeling inflation and inflation expectations in post-crisis era, and international spillovers of monetary policy. Update (Oct 2014): the bibliography will list papers dealing with quantitative easing (QE), particularly evidence of the channel through which QE is effective and a variety of topics that focus on either the transmission mechanism post-2009 or recent papers on the empirics of price setting behaviour. Previous topics covered (early 2013) were: Monetary policy at the zero lower bound, effect of asset prices on monetary policy, the interaction between monetary and fiscal policy at the ZLB and identification in DSGE models--see the cross-listing on identification for recent work.

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Most relevant research

  1. Olivier Coibion & Dimitris Georgarakos & Yuriy Gorodnichenko & Maarten van Rooij, 2019, "How Does Consumption Respond to News about Inflation? Field Evidence from a Randomized Control Trial," NBER Working Papers, National Bureau of Economic Research, Inc, number 26106, Jul.
  2. Olivier Coibion & Yuriy Gorodnichenko & Tiziano Ropele, 2019, "Inflation expectations and firms’ decisions: new causal evidence," Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area, number 1219, Apr.
  3. George-Marios Angeletos & Karthik Sastry, 2019, "Managing Expectations without Rational Expectations," 2019 Meeting Papers, Society for Economic Dynamics, number 1537.
  4. Jeffrey R. Campbell & Filippo Ferroni & Jonas D. M. Fisher & Leonardo Melosi, 2019, "The limits of forward guidance," Working Paper Series, Federal Reserve Bank of Chicago, number WP-2019-3, Mar, DOI: 10.21033/wp-2019-03.
  5. Philippe Andrade & Gaetano Gaballo & Eric Mengus & Benoît Mojon, 2019, "Forward Guidance and Heterogeneous Beliefs," American Economic Journal: Macroeconomics, American Economic Association, volume 11, issue 3, pages 1-29, July.
  6. Alisdair McKay & Emi Nakamura & Jón Steinsson, 2016, "The Power of Forward Guidance Revisited," American Economic Review, American Economic Association, volume 106, issue 10, pages 3133-3158, October.
  7. Beqiraj, Elton & Di Bartolomeo, Giovanni & Di Pietro, Marco, 2019, "Beliefs formation and the puzzle of forward guidance power," Journal of Macroeconomics, Elsevier, volume 60, issue C, pages 20-32, DOI: 10.1016/j.jmacro.2019.01.001.
  8. Olivier Coibion & Yuriy Gorodnichenko & Michael Weber, 2019, "Monetary Policy Communications and their Effects on Household Inflation Expectations," NBER Working Papers, National Bureau of Economic Research, Inc, number 25482, Jan.
  9. Mark Gertler, 2017, "Rethinking the Power of Forward Guidance: Lessons from Japan," NBER Working Papers, National Bureau of Economic Research, Inc, number 23707, Aug.
  10. Hagedorn, Marcus & Luo, Jinfeng & Manovskii, Iourii & Mitman, Kurt, 2019, "Forward guidance," Journal of Monetary Economics, Elsevier, volume 102, issue C, pages 1-23, DOI: 10.1016/j.jmoneco.2019.01.014.
  11. Pascal Michaillat & Emmanuel Saez, 2018, "Resolving New Keynesian Anomalies with Wealth in the Utility Function," NBER Working Papers, National Bureau of Economic Research, Inc, number 24971, Aug.
  12. Leonardo Melosi, 2017, "Signalling Effects of Monetary Policy," The Review of Economic Studies, Review of Economic Studies Ltd, volume 84, issue 2, pages 853-884.
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  13. Gaetano Gaballo, 2016, "Rational Inattention to News: The Perils of Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, volume 8, issue 1, pages 42-97, January.
  14. Maliar, Lilia & Taylor, John, 2018, "Taylor Rules and Forward Guidance: A Rule is not a Path," CEPR Discussion Papers, Centre for Economic Policy Research, number 13383, Dec.
  15. Marco Bassetto, 2019, "Forward Guidance: Communication, Commitment, or Both?," Working Paper Series, Federal Reserve Bank of Chicago, number WP-2019-5, Jul, DOI: 10.21033/wp-2019-05.
  16. Christopher J. Gust & Edward P. Herbst & J. David López-Salido, 2018, "Forward Guidance with Bayesian Learning and Estimation," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.), number 2018-072, Oct, DOI: 10.17016/FEDS.2018.072.
  17. Ehrmann, Michael & Gaballo, Gaetano & Hoffmann, Peter & Strasser, Georg, 2019, "How to signal the future path of interest rates? The international evidence on forward guidance," Research Bulletin, European Central Bank, volume 61.
  18. Francesco Ferrante & Matthias Paustian, 2019, "Household Debt and the Heterogeneous Effects of Forward Guidance," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.), number 1267, Nov, DOI: 10.17016/IFDP.2019.1267.
  19. Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2017, "Forward Guidance And The State Of The Economy," Economic Inquiry, Western Economic Association International, volume 55, issue 4, pages 1593-1624, October.