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Monetary Theory

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This RePEc Biblio topic is edited by Johanna L. Francis. 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 26106, National Bureau of Economic Research, Inc.
  2. Olivier Coibion & Yuriy Gorodnichenko & Tiziano Ropele, 2019. "Inflation expectations and firms’ decisions: new causal evidence," Temi di discussione (Economic working papers) 1219, Bank of Italy, Economic Research and International Relations Area.
  3. George-Marios Angeletos & Karthik Sastry, 2019. "Managing Expectations without Rational Expectations," 2019 Meeting Papers 1537, Society for Economic Dynamics.
  4. Jeffrey R. Campbell & Leonardo Melosi & Jonas D. M. Fisher & Filippo Ferroni, 2019. "The limits of forward guidance," Working Paper Series WP-2019-3, Federal Reserve Bank of Chicago, revised 20 Mar 2019.
  5. Philippe Andrade & Gaetano Gaballo & Eric Mengus & Benoît Mojon, 2019. "Forward Guidance and Heterogeneous Beliefs," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(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, vol. 106(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, vol. 60(C), pages 20-32.
  8. Olivier Coibion & Yuriy Gorodnichenko & Michael Weber, 2019. "Monetary Policy Communications and their Effects on Household Inflation Expectations," NBER Working Papers 25482, National Bureau of Economic Research, Inc.
  9. Mark Gertler, 2017. "Rethinking the Power of Forward Guidance: Lessons from Japan," NBER Working Papers 23707, National Bureau of Economic Research, Inc.
  10. Hagedorn, Marcus & Luo, Jinfeng & Manovskii, Iourii & Mitman, Kurt, 2019. "Forward guidance," Journal of Monetary Economics, Elsevier, vol. 102(C), pages 1-23.
  11. Pascal Michaillat & Emmanuel Saez, 2018. "Resolving New Keynesian Anomalies with Wealth in the Utility Function," NBER Working Papers 24971, National Bureau of Economic Research, Inc.
  12. Leonardo Melosi, 2017. "Signalling Effects of Monetary Policy," Review of Economic Studies, Oxford University Press, vol. 84(2), pages 853-884.
  13. Francesco Bianchi & Leonardo Melosi, 2016. "Modeling The Evolution Of Expectations And Uncertainty In General Equilibrium," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57, pages 717-756, May.
  14. Gaetano Gaballo, 2016. "Rational Inattention to News: The Perils of Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(1), pages 42-97, January.
  15. Maliar, Lilia & Taylor, John B., 2018. "Forward Guidance: Is It Useful After the Crisis?," CEPR Discussion Papers 13383, C.E.P.R. Discussion Papers.
  16. Marco Bassetto, 2019. "Forward Guidance: Communication, Commitment, or Both?," Working Paper Series WP-2019-5, Federal Reserve Bank of Chicago.
  17. Christopher J. Gust & J. David Lopez-Salido & Edward Herbst, 2018. "Forward Guidance with Bayesian Learning and Estimation," Finance and Economics Discussion Series 2018-072, Board of Governors of the Federal Reserve System (US), revised 25 Oct 2018.
  18. 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, vol. 61.
  19. Francesco Ferrante & Matthias Paustian, 2019. "Household Debt and the Heterogeneous Effects of Forward Guidance," International Finance Discussion Papers 1267, Board of Governors of the Federal Reserve System (U.S.), revised 27 Nov 2019.
  20. Benjamin D. Keen & Alexander W. Richter & Nathaniel A. Throckmorton, 2017. "Forward Guidance And The State Of The Economy," Economic Inquiry, Western Economic Association International, vol. 55(4), pages 1593-1624, October.