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Pedro Teles

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. Ramon Marimon & Juan Pablo Nicolini & Pedro Teles, "undated". "Money is an Experience Good: Competition and Trust in the Private Provision of Money," Working Papers 563, Barcelona School of Economics.

    Mentioned in:

    1. Money is an Experience Good: Competition and Trust in the Private Provision of Money
      by Christian Zimmermann in NEP-DGE blog on 2012-05-20 07:18:16
    2. Trust in private money
      by Economic Logician in Economic Logic on 2011-08-19 19:11:00
  2. Correia, Isabel & Teles, Pedro & Nicolini, Juan Pablo & Farhi, Emmanuel, 2011. "Unconventional Fiscal Policy at the Zero Bound," CEPR Discussion Papers 8193, C.E.P.R. Discussion Papers.

    Mentioned in:

    1. Liquidity Constraints
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2013-11-22 04:57:00
    2. No One Expects the Spanish Inquisition: More on D.K. Levine and J.M Keynes
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2015-03-21 01:54:00
  3. Pedro Teles & Emmanuel Farhi, 2011. "Unconventional Fiscal Policy at the Zero Bound," Working Papers w201103, Banco de Portugal, Economics and Research Department.

    Mentioned in:

    1. Liquidity Constraints
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2013-11-22 04:57:00
    2. No One Expects the Spanish Inquisition: More on D.K. Levine and J.M Keynes
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2015-03-21 01:54:00
  4. Pedro Teles & Ramon Marimon, 2011. "Money is an experience good: competition and trust in the private provision of money," Working Papers w201118, Banco de Portugal, Economics and Research Department.

    Mentioned in:

    1. Money is an Experience Good: Competition and Trust in the Private Provision of Money
      by Christian Zimmermann in NEP-DGE blog on 2012-05-20 07:18:16
    2. Trust in private money
      by Economic Logician in Economic Logic on 2011-08-19 19:11:00
  5. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2008. "Optimal Fiscal and Monetary Policy: Equivalence Results," Journal of Political Economy, University of Chicago Press, vol. 116(1), pages 141-170, February.

    Mentioned in:

    1. Más Política Monetaria No Convencional III: Política Fiscal
      by Jesús Fernández-Villaverde in Nada Es Gratis on 2010-09-15 02:46:59

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Isabel Correia & Emmanuel Farhi & Juan Pablo Nicolini & Pedro Teles, 2013. "Unconventional Fiscal Policy at the Zero Bound," American Economic Review, American Economic Association, vol. 103(4), pages 1172-1211, June.

    Mentioned in:

    1. Unconventional Fiscal Policy at the Zero Bound (AER 2013) in ReplicationWiki ()

Working papers

  1. Joao Ayres & Gaston Navarro & Juan Pablo Nicolini & Pedro Teles, 2023. "Self-Fulfilling Debt Crises with Long Stagnations," International Finance Discussion Papers 1370, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
    2. Giancarlo Corsetti, 2023. "Debt crises, fast and slow Giancarlo," RSCAS Working Papers 2023/15, European University Institute.
    3. Giancarlo Corsetti & Seung Hyun Maeng, 2023. "The Theory of Reserve Accumulation, Revisited," RSCAS Working Papers 2013_53, European University Institute.
    4. Della Posta, Pompeo, 2023. "Public debt sustainability in a target zone model with heterogeneous agents," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 440-450.

  2. Chari, V. V. & Nicolini, Juan Pablo & Teles, Pedro, 2022. "Optimal Cooperative Taxation in the Global Economy," CEPR Discussion Papers 17093, C.E.P.R. Discussion Papers.

    Cited by:

    1. Caldara, Dario & Iacoviello, Matteo & Molligo, Patrick & Prestipino, Andrea & Raffo, Andrea, 2020. "The economic effects of trade policy uncertainty," Journal of Monetary Economics, Elsevier, vol. 109(C), pages 38-59.
    2. Maebayashi, Noritaka & Morimoto, Keiichi, 2024. "Global corporate income tax competition, knowledge spillover, and growth," European Economic Review, Elsevier, vol. 164(C).
    3. Daniel R. Carroll & Sewon Hur, 2020. "On the Distributional Effects of International Tariffs," Working Papers 20-18R2, Federal Reserve Bank of Cleveland, revised 13 Feb 2023.
    4. Santacreu, Ana Maria, 2024. "Comment on: “Optimal Taxation of Multinational Enterprises: A Ramsey Approach”, by Sebastian Dyrda, Guangbin Hong, and Joseph B. Steinberg," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 98-100.
    5. Dyrda, Sebastian & Hong, Guangbin & Steinberg, Joseph B., 2024. "Optimal taxation of multinational enterprises: A Ramsey approach," Journal of Monetary Economics, Elsevier, vol. 141(C), pages 74-97.

  3. João Valle e Azevedo & Pedro Teles, 2019. "The Neutrality of Nominal Rates: How Long is the Long Run?," Working Papers w201911, Banco de Portugal, Economics and Research Department.

    Cited by:

    1. Kerstin Bernoth & Helmut Herwartz & Lasse Trienens, 2023. "The Impacts of Global Risk and US Monetary Policy on US Dollar Exchange Rates and Excess Currency Returns," Discussion Papers of DIW Berlin 2037, DIW Berlin, German Institute for Economic Research.
    2. Javier Garcia Cicco & Patricio Goldstein & Federico Sturzenegger, 2023. "Permanent and Transitory Monetary Shocks around the World," Working Papers 275, Red Nacional de Investigadores en Economía (RedNIE).
    3. Marieh Azizirad, 2022. "Fisher vs Keynes: Does an Interest Rate Hike Cause Inflation to Increase or Decrease?," Discussion Papers dp22-08, Department of Economics, Simon Fraser University.
    4. Hafedh Bouakez & Takashi Kano, 2024. "Deciphering the Neo-Fisherian Effect," CAMA Working Papers 2024-49, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    5. Carvalho, Alexandre & Valle e Azevedo, João & Pires Ribeiro, Pedro, 2024. "Permanent and temporary monetary policy shocks and the dynamics of exchange rates," Journal of International Economics, Elsevier, vol. 147(C).
    6. Kang, Kyu Ho & Do, Kyeongtak, 2024. "Korea’s neutral interest rate: Estimates, determinants, and monetary policy stance," Journal of Asian Economics, Elsevier, vol. 92(C).

  4. Rebelo, Sérgio & Guerreiro, Joao & Teles, Pedro, 2019. "What is the Optimal Immigration Policy? Migration, Jobs and Welfare," CEPR Discussion Papers 13909, C.E.P.R. Discussion Papers.

    Cited by:

    1. Janeba, Eckhard & Schulz, Karl, 2023. "Nonlinear taxation and international mobility in general equilibrium," Journal of Public Economics, Elsevier, vol. 218(C).
    2. Andersen, Torben M. & Sørensen, Allan, 2023. "The interdependencies between the private and public sectors in open economies," European Economic Review, Elsevier, vol. 160(C).
    3. Jinno, Masatoshi & Yasuoka, Masaya, 2022. "The effects of admittingi Immigrants: a look at Japan’s school and pension systems," MPRA Paper 115182, University Library of Munich, Germany.
    4. Busch, Christopher & Krueger, Dirk & Ludwig, Alexander & Popova, Irina & Iftikhar, Zainab, 2020. "Should Germany have built a new wall? Macroeconomic lessons from the 2015-18 refugee wave," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 28-55.
    5. Juanmarti Mestres, Arnau & López Casasnovas, Guillem & Vall Castelló, Judit, 2021. "The deadly effects of losing health insurance," European Economic Review, Elsevier, vol. 131(C).
    6. Alessandria, George & Bai, Yan & Deng, Minjie, 2020. "Migration and sovereign default risk," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 1-22.
    7. Michael A. Clemens, 2021. "The Fiscal Effect of Immigration: Reducing Bias in Influential Estimates," RF Berlin - CReAM Discussion Paper Series 2134, Rockwool Foundation Berlin (RF Berlin) - Centre for Research and Analysis of Migration (CReAM).
    8. Orhan Erem Atesagaoglu & Hakki Yazici, 2021. "Optimal Taxation of Capital in the Presence of Declining Labor Share," Bristol Economics Discussion Papers 21/739, School of Economics, University of Bristol, UK.

  5. V. V. Chari & Juan Pablo Nicolini & Pedro Teles, 2018. "Optimal Capital Taxation Revisited," Staff Report 571, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Chen, Ping-ho & Chu, Angus C. & Chu, Hsun & Lai, Ching-Chong, 2019. "Optimal Capital Taxation in an Economy with Innovation-Driven Growth," MPRA Paper 92319, University Library of Munich, Germany.
    2. Kirill Borissov & Lucas Bretschger & Aleksey Minabutdinov, 2022. "The capital tax paradox in a greening economy," International Economics and Economic Policy, Springer, vol. 19(2), pages 315-329, May.
    3. Marco Bassetto & Wei Cui, 2021. "A Ramsey Theory of Financial Distortions," Discussion Papers 2107, Centre for Macroeconomics (CFM).
    4. V. V. Chari & Juan Pablo Nicolini & Pedro Teles, 2018. "Optimal Capital Taxation Revisited," Staff Report 571, Federal Reserve Bank of Minneapolis.
    5. Bonnet, Odran & Chapelle, Guillaume & Trannoy, Alain & Wasmer, Etienne, 2021. "Land is back, it should be taxed, it can be taxed," European Economic Review, Elsevier, vol. 134(C).
    6. Boar, Corina & Midrigan, Virgiliu, 2022. "Efficient redistribution," Journal of Monetary Economics, Elsevier, vol. 131(C), pages 78-91.
    7. Ge Jin & Bing Zhang, 2024. "Optimal fiscal policy with a balanced-budget restriction: revisiting Chamley and Barro," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 31(2), pages 454-485, April.
    8. Casas, Pablo & Torres, José L., 2022. "Government size and automation," MPRA Paper 115271, University Library of Munich, Germany.
    9. Orhan Erem Atesagaoglu & Hakki Yazici, 2021. "Optimal Taxation of Capital in the Presence of Declining Labor Share," CESifo Working Paper Series 9101, CESifo.
    10. Orhan Erem Atesagaoglu & Hakki Yazici, 2021. "Optimal Taxation of Capital in the Presence of Declining Labor Share," Bristol Economics Discussion Papers 21/739, School of Economics, University of Bristol, UK.

  6. Teles, Pedro & Nicolini, Juan Pablo & Chari, V. V., 2018. "Ramsey Taxation in the Global Economy," CEPR Discussion Papers 12753, C.E.P.R. Discussion Papers.

    Cited by:

    1. Stéphane Auray & Devereux Michael B. & Aurélien Eyquem, 2020. "Trade Wars, Currency Wars," Post-Print halshs-03031865, HAL.

  7. Teles, Pedro & , & Navarro, Gaston & Nicolini, Juan Pablo, 2018. "Sovereign Default: The Role of Expectations," CEPR Discussion Papers 12750, C.E.P.R. Discussion Papers.

    Cited by:

    1. Giancarlo Corsetti & Bartosz Maćkowiak, 2023. "Gambling to Preserve Price (and Fiscal) Stability," RSCAS Working Papers 2022/72, European University Institute.
    2. Mark Aguiar & Satyajit Chatterjee & Harold Cole & Zachary Stangebye, 2022. "Self-Fulfilling Debt Crises, Revisited," Journal of Political Economy, University of Chicago Press, vol. 130(5), pages 1147-1183.
    3. Gilles Dufrénot & Carolina Ulloa Suarez, 2019. "Public finance sustainability in Europe: a behavioral model," Working Papers halshs-02356400, HAL.
    4. Joao Ayres & Gaston Navarro & Juan Pablo Nicolini & Pedro Teles, 2015. "Sovereign Default: The Role of Expectations," Working Papers 723, Federal Reserve Bank of Minneapolis.
    5. Shehabi, Manal, 2020. "Diversification effects of energy subsidy reform in oil exporters: Illustrations from Kuwait," Energy Policy, Elsevier, vol. 138(C).
    6. Balke, Neele L. & Ravn, Morten O., 2016. "Time-consistent fiscal policy in a debt crisis," LSE Research Online Documents on Economics 86174, London School of Economics and Political Science, LSE Library.
    7. Stavros A. Zenios & Andrea Consiglio & Marialena Athanasopoulou & Edmund Moshammer & Angel Gavilan & Aitor Erce, 2021. "Risk Management for Sustainable Sovereign Debt Financing," Operations Research, INFORMS, vol. 69(3), pages 755-773, May.
    8. Michal Szkup, 2020. "Online Appendix to "Preventing Self-Fulfilling Debt Crises: A Global Games Approach"," Online Appendices 19-127, Review of Economic Dynamics.
    9. Mackowiak, Bartosz & Jarocinski, Marek, 2017. "Monetary-Fiscal Interactions and the Euro Area's Malaise," CEPR Discussion Papers 12020, C.E.P.R. Discussion Papers.
    10. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
    11. Giancarlo Corsetti & Seung Hyun Maeng, 2020. "Debt crises, fast and slow," Discussion Papers 2019, Centre for Macroeconomics (CFM).
    12. Alessandro Dovis & Luigi Bocola, 2015. "Indeterminacy in Sovereign Debt Markets: An Empirical Investigation," 2015 Meeting Papers 694, Society for Economic Dynamics.
    13. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
    14. Joao Ayres & Gaston Navarro & Juan Pablo Nicolini & Pedro Teles, 2019. "Self-Fulfilling Debt Crises with Long Stagnations," Working Papers 757, Federal Reserve Bank of Minneapolis.
    15. Timothy J. Kehoe & Juan Pablo Nicolini & Thomas J. Sargent, 2020. "A Framework for Studying the Monetary and Fiscal History of Latin America, 1960–2017," Staff Report 607, Federal Reserve Bank of Minneapolis.
    16. Maeng, F. S., 2024. "Default, Inflation Expectations, and the Currency Denomination of Sovereign Bonds," Cambridge Working Papers in Economics 2438, Faculty of Economics, University of Cambridge.
    17. Philippe Bacchetta & Elena Perazzi & Eric van Wincoop, 2015. "Self-Fulfilling Debt Crises: Can Monetary Policy Really Help?," Cahiers de Recherches Economiques du Département d'économie 15.06, Université de Lausanne, Faculté des HEC, Département d’économie.
    18. Gaetano Gaballo & Ramon Marimon, 2016. "Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies," NBER Working Papers 22006, National Bureau of Economic Research, Inc.
    19. Carlos Esquivel & Timothy J. Kehoe & Juan Pablo Nicolini, 2020. "Lessons from the Monetary and Fiscal History of Latin America," Staff Report 608, Federal Reserve Bank of Minneapolis.
    20. Juan Pablo Nicolini, 2016. "Self-fulfilling Prophecies in Sovereign Debt Markets," Economic Policy Paper 16-8, Federal Reserve Bank of Minneapolis.
    21. Giancarlo Corsetti, 2023. "Debt crises, fast and slow Giancarlo," RSCAS Working Papers 2023/15, European University Institute.
    22. Javier Bianchi, 2019. "Monetary Independence and Rollover Crises," 2019 Meeting Papers 1367, Society for Economic Dynamics.
    23. López-Espinosa, Germán & Moreno, Antonio & Rubia, Antonio & Valderrama, Laura, 2017. "Sovereign tail risk," Journal of International Money and Finance, Elsevier, vol. 79(C), pages 174-188.
    24. Mark A. Aguiar & Manuel Amador, 2018. "Self-Fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models," NBER Working Papers 24683, National Bureau of Economic Research, Inc.
    25. Shiller, Robert J., 2022. "The evolving risks of the 21st century and their effective management," Journal of Policy Modeling, Elsevier, vol. 44(4), pages 741-747.
    26. Corsetti, G. & Maeng, S. H., 2023. "The Theory of Reserve Accumulation, Revisited," Janeway Institute Working Papers 2319, Faculty of Economics, University of Cambridge.
    27. Harashima, Taiji, 2021. "The Root Cause of Sovereign Default," MPRA Paper 110010, University Library of Munich, Germany.
    28. Juan Passadore & Juan Xandri, 2019. "Robust Predictions in Dynamic Policy Games," 2019 Meeting Papers 1345, Society for Economic Dynamics.
    29. Corsetti, G. & Maeng, S. H., 2023. "The Theory of Reserve Accumulation, Revisited," Cambridge Working Papers in Economics 2370, Faculty of Economics, University of Cambridge.
    30. Kikkawa, Ken & Sasahara, Akira, 2018. "Gains from Trade and the Sovereign Bond Market," MPRA Paper 90685, University Library of Munich, Germany.
    31. Dominik Thaler, 2018. "Sovereign default, domestic banks and exclusion from international capital markets," Working Papers 1824, Banco de España.
    32. Francisco J. Buera & Juan Pablo Nicolini, 2019. "The Monetary and Fiscal History of Argentina, 1960-2017," Staff Report 580, Federal Reserve Bank of Minneapolis.
    33. Pierri, Damian Rene, 2022. "An ergodic theory of sovereign default," UC3M Working papers. Economics 36164, Universidad Carlos III de Madrid. Departamento de Economía.
    34. Elton Beqiraj & Valeria Patella & Massimiliano Tancioni, 2019. "Regime-switches in the Rollover of Sovereign Risk," Working Papers in Public Economics 191, University of Rome La Sapienza, Department of Economics and Law.
    35. Mackowiak, Bartosz & Corsetti, Giancarlo & Dedola, Luca & Schmidt, Sebastian & Jarocinski, Marek, 2017. "Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe’s Monetary Union," CEPR Discussion Papers 12371, C.E.P.R. Discussion Papers.
    36. Luigi Bocola & Alessandro Dovis, 2016. "Self-Fulfilling Debt Crises: A Quantitative Analysis," NBER Working Papers 22694, National Bureau of Economic Research, Inc.
    37. Corsetti, G. & Dedola, L. & Jarocinsk, M. & Mackowiak, B., 2016. "Macroeconomic Stabilization, Monetary-fiscal Interactions, and Europe’s monetary Union," Cambridge Working Papers in Economics 1675, Faculty of Economics, University of Cambridge.
    38. Yan Liu & Ramon Marimon & Adrien Wicht, 2022. "Making sovereign debt safe with a financial stability fund," Economics Working Papers 1829, Department of Economics and Business, Universitat Pompeu Fabra.
    39. Abad, Nicolas & Lloyd-Braga, Teresa & Modesto, Leonor, 2020. "The failure of stabilization policy: Balanced-budget fiscal rules in the presence of incompressible public expenditures," Journal of Economic Dynamics and Control, Elsevier, vol. 120(C).
    40. Cláudia Braz & João Amador & João Valle e Azevedo, 2019. "The Deepening of the Economic and Monetary Union," Working Papers o201901, Banco de Portugal, Economics and Research Department.
    41. Mark Aguiar & Satyajit Chatterjee & Harold L. Cole & Zachary Stangebye, 2017. "Self-Fulfilling Debt Crises, Revisited: The Art of the Desperate Deal," Working Papers 17-7, Federal Reserve Bank of Philadelphia.
    42. Harold Cole & Daniel Neuhann & Guillermo Ordoñez, 2018. "A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information," NBER Working Papers 24890, National Bureau of Economic Research, Inc.
    43. Bacchetta, Philippe & Perazzi, Elena & van Wincoop, Eric, 2018. "Self-fulfilling debt crises: What can monetary policy do?," Journal of International Economics, Elsevier, vol. 110(C), pages 119-134.
    44. Joachim Jungherr & Immo Schott, 2016. "Optimal Debt Maturity and Firm Investment," Working Papers 943, Barcelona School of Economics.
    45. Giovanni Callegari & Ramon Marimon & Adrien Wicht & Luca Zavalloni, 2023. "On a Lender of Last Resort with a Central Bank and a Stability Fund," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 50, pages 106-130, October.
    46. Joachim Jungherr & Immo Schott, 2018. "The Long-term Debt Accelerator," 2018 Meeting Papers 961, Society for Economic Dynamics.
    47. Aguiar, Mark & Amador, Manuel, 2019. "A contraction for sovereign debt models," Journal of Economic Theory, Elsevier, vol. 183(C), pages 842-875.
    48. Giancarlo Corsetti & Seung Hyun Maeng, 2023. "The Theory of Reserve Accumulation, Revisited," RSCAS Working Papers 2013_53, European University Institute.
    49. Sergio de Ferra, 2017. "External Imbalances, Gross Capital Flows and Sovereign Debt Crises," 2017 Meeting Papers 726, Society for Economic Dynamics.
    50. Beqiraj, Elton & Fedeli, Silvia & Tancioni, Massimiliano, 2021. "Fiscal retrenchments and the transmission mechanism of the sovereign risk channel for highly indebted countries," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    51. V. V. Chari & Patrick J. Kehoe, 2016. "Bailouts, Time Inconsistency, and Optimal Regulation: A Macroeconomic View," American Economic Review, American Economic Association, vol. 106(9), pages 2458-2493, September.
    52. Della Posta, Pompeo, 2023. "Public debt sustainability in a target zone model with heterogeneous agents," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 440-450.
    53. Pompeo Della Posta, 2022. "The Revival of Target Zone Modeling," Open Economies Review, Springer, vol. 33(4), pages 775-805, September.

  8. Rebelo, Sérgio & Teles, Pedro & Guerreiro, Joao, 2017. "Should Robots Be Taxed?," CEPR Discussion Papers 12238, C.E.P.R. Discussion Papers.

    Cited by:

    1. Cui, Xiaoyong & Gong, Liutang & Li, Wenjian, 2021. "Supply-side optimal capital taxation with endogenous wage inequality," Journal of Public Economics, Elsevier, vol. 198(C).
    2. Andreas Schaefer & Maik T. Schneider, 2024. "Public Policy Responses to AI," Graz Economics Papers 2024-06, University of Graz, Department of Economics.
    3. Daron Acemoglu & Andrea Manera & Pascual Restrepo, 2020. "Does the US Tax Code Favor Automation?," NBER Working Papers 27052, National Bureau of Economic Research, Inc.
    4. Prettner, Klaus & Strulik, Holger, 2017. "The lost race against the machine: Automation, education, and inequality in an R&D-based growth model," University of Göttingen Working Papers in Economics 329, University of Goettingen, Department of Economics.
    5. Aghion, Philippe & Antonin, Celine & Bunel, Simon & Jaravel, Xavier Laurent, 2023. "Modern manufacturing capital, labor demand and product market dynamics: evidence from France," LSE Research Online Documents on Economics 121340, London School of Economics and Political Science, LSE Library.
    6. Zhang, Pengqing, 2019. "Automation, wage inequality and implications of a robot tax," International Review of Economics & Finance, Elsevier, vol. 59(C), pages 500-509.
    7. Gasteiger, Emanuel & Kuhn, Michael & Mistlbacher, Matthias & Prettner, Klaus, 2024. "Electricity use of automation or how to tax robots?," Department of Economics Working Paper Series 364, WU Vienna University of Economics and Business.
    8. Seth G. Benzell & Laurence J. Kotlikoff & Guillermo LaGarda & Jeffrey D. Sachs, 2015. "Robots Are Us: Some Economics of Human Replacement," NBER Working Papers 20941, National Bureau of Economic Research, Inc.
    9. Brinca, Pedro & Oliveira, João & Duarte, João, 2019. "Investment-Specific Technological Change, Taxation and Inequality in the U.S," MPRA Paper 91463, University Library of Munich, Germany.
    10. Ünveren, Burak & Durmaz, Tunç & Sunal, Seçkin, 2023. "AI revolution and coordination failure: Theory and evidence," Journal of Macroeconomics, Elsevier, vol. 78(C).
    11. Philippe Aghion & Céline Antonin & Simon Bunel & Xavier Jaravel, 2020. "What Are the Labor and Product Market Effects of Automation? New Evidence from France," Post-Print hal-03384668, HAL.
    12. Aleh Tsyvinski & Nicolas Werquin, 2017. "Generalized Compensation Principle," NBER Working Papers 23509, National Bureau of Economic Research, Inc.
    13. Aisa, Rosa & Cabeza, Josefina & Martin, Jorge, 2023. "Automation and aging: The impact on older workers in the workforce," The Journal of the Economics of Ageing, Elsevier, vol. 26(C).
    14. Fossen, Frank M. & Sorgner, Alina, 2019. "New Digital Technologies and Heterogeneous Employment and Wage Dynamics in the United States: Evidence from Individual-Level Data," IZA Discussion Papers 12242, Institute of Labor Economics (IZA).
    15. José L. Torres & Pablo Casas, 2020. "Automation, Automatic Capital Returns, and the Functional Income Distribution," Working Papers 2020-02, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
    16. Santini, Tommaso, 2022. "Automation with heterogeneous agents: The effect on consumption inequality," IWH Discussion Papers 28/2022, Halle Institute for Economic Research (IWH).
    17. Hideto Koizumi, 2023. "On the implementability of a "robot tax"," Economics Bulletin, AccessEcon, vol. 43(2), pages 759-768.
    18. Pi, Jiancai & Fan, Yanwei, 2021. "The impact of robots on equilibrium unemployment of unionized workers," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 663-675.
    19. Stéphane Auray & Aurélien Eyquem, 2018. "Robots in a Small Open Economy," Working Papers 2018-17, Center for Research in Economics and Statistics.
    20. Fossen, Frank M. & Sorgner, Alina, 2022. "New digital technologies and heterogeneous wage and employment dynamics in the United States: Evidence from individual-level data," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    21. Uwe Thuemmel, 2018. "Optimal Taxation of Robots," CESifo Working Paper Series 7317, CESifo.
    22. Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2020. "How Should Tax Progressivity Respond to Rising Income Inequality?," Staff Report 615, Federal Reserve Bank of Minneapolis.
    23. Burkhard Heer & Andreas Irmen & Bernd Süssmuth, 2023. "Explaining the decline in the US labor share: taxation and automation," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(6), pages 1481-1528, December.
    24. Gorny, Paul M. & Groos, Eva & Strobel, Christina, 2024. "Do Personalized AI Predictions Change Subsequent Decision-Outcomes? The Impact of Human Oversight," MPRA Paper 121065, University Library of Munich, Germany.
    25. Xu, Shaofeng & Liu, Tao & Liu, Fengliang, 2024. "On the role of automation in an epidemic," Journal of Economic Dynamics and Control, Elsevier, vol. 160(C).
    26. De Dominicis, Piero, 2020. "Routinization and Covid-19: a comparison between United States and Portugal," MPRA Paper 101003, University Library of Munich, Germany.
    27. Naudé, Wim & Nagler, Paula, 2017. "Technological Innovation and Inclusive Growth in Germany," IZA Discussion Papers 11194, Institute of Labor Economics (IZA).
    28. Venturini, Francesco, 2022. "Intelligent technologies and productivity spillovers: Evidence from the Fourth Industrial Revolution," Journal of Economic Behavior & Organization, Elsevier, vol. 194(C), pages 220-243.
    29. KATO Hayato & Jonas LOEBBING, 2023. "Tax Competition for Automation Capital," Discussion papers 23078, Research Institute of Economy, Trade and Industry (RIETI).
    30. Caro-Burnett, Johann & Kaneko, Shinji, 2022. "Is Society Ready for AI Ethical Decision Making? Lessons from a Study on Autonomous Cars," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 98(C).
    31. Casas, Pablo & Torres, José L., 2022. "Government size and automation," MPRA Paper 115271, University Library of Munich, Germany.
    32. Antonio Cabrales & Penélope Hernández & Angel Sánchez, 2020. "Robots, labor markets, and universal basic income," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-8, December.
    33. Kobosko, Monika, 2021. "Ginące zawody jako konsekwencja zmian technologicznych na polskim rynku pracy," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 8(4), pages 1-21, December.
    34. Marcel Steffen Eckardt, 2022. "Minimum wages in an automating economy," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 24(1), pages 58-91, February.
    35. Jonas Loebbing, 2020. "Redistributive Income Taxation with Directed Technical Change," CESifo Working Paper Series 8743, CESifo.
    36. Spencer Bastani & Daniel Waldenström, 2020. "How Should Capital Be Taxed?," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 812-846, September.
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    39. Pan, Junyu & Cifuentes-Faura, Javier & Zhao, Xin & Liu, Xiaoqian, 2024. "Unlocking the impact of digital technology progress and entry dynamics on firm's total factor productivity in Chinese industries," Global Finance Journal, Elsevier, vol. 60(C).
    40. Coelho, José, 2020. "Universal basic income and skill-biased technological change," MPRA Paper 99195, University Library of Munich, Germany, revised 20 Mar 2020.
    41. Martin Adler & Stefanie Peer & Tanja Sinozic, 2019. "Autonomous, Connected, Electric Shared vehicles (ACES) and public finance: an explorative analysis," Tinbergen Institute Discussion Papers 19-005/VIII, Tinbergen Institute.
    42. Li, Jianjun & Wu, Zhouyi & Yu, Kaijia & Zhao, Wei, 2024. "The effect of industrial robot adoption on firm value: Evidence from China," Finance Research Letters, Elsevier, vol. 60(C).
    43. Caselli, Francesco & Manning, Alan, 2019. "Robot arithmetic: new technology and wages," LSE Research Online Documents on Economics 87371, London School of Economics and Political Science, LSE Library.
    44. Gasteiger, Emanuel & Prettner, Klaus, 2020. "Automation, stagnation, and the implications of a robot tax," ECON WPS - Working Papers in Economic Theory and Policy 02/2020, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    45. Özlem Kina & Ctirad Slavik & Hakki Yazici, 2020. "Redistributive Capital Taxation Revisited," CESifo Working Paper Series 8627, CESifo.
    46. Schulz, Karl & Tsyvinski, Aleh & Werquin, Nicolas, 2023. "Generalized compensation principle," Theoretical Economics, Econometric Society, vol. 18(4), November.
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    48. Geiger, Niels & Prettner, Klaus & Schwarzer, Johannes A., 2018. "Automatisierung, Wachstum und Ungleichheit," Hohenheim Discussion Papers in Business, Economics and Social Sciences 13-2018, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
    49. Ahmed S. Rahman, 2017. "Rise of the Machines Redux – Education, Technological Transition and Long-run Growth," Departmental Working Papers 61, United States Naval Academy Department of Economics.
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    56. Nakatani, Ryota, 2022. "Optimal fiscal policy in the automated economy," MPRA Paper 115003, University Library of Munich, Germany.
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    Cited by:

    1. Leal-Ordoñez Julio C. & Mandujano Javier, 2019. "Fear of taxes," Working Papers 2019-09, Banco de México.
    2. Juan Carlos Conesa & Begoña Domínguez, 2019. "The timing of optimal capital income tax reforms: the role of intangible capital investment," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 10(3), pages 419-438, November.
    3. François Le Grand & Xavier Ragot, 2020. "Managing Inequality over Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," Working Papers hal-03476095, HAL.
    4. Odran Bonnet & Guillaume Flamerie de La Chapelle & Alain Trannoy & Etienne Wasmer, 2019. "Secular trends in Wealth and Heterogeneous Capital: Land is back...and should be taxed," Working Papers hal-03541411, HAL.
    5. Bonnet, Odran & Chapelle, Guillaume & Trannoy, Alain & Wasmer, Etienne, 2021. "Land is back, it should be taxed, it can be taxed," European Economic Review, Elsevier, vol. 134(C).
    6. Li, Meng, 2023. "Loss aversion and inefficient general equilibrium over the business cycle," Economic Modelling, Elsevier, vol. 118(C).
    7. Claudio Cesaroni, 2017. "Optimal Long-Run Inflation and the Informal Economy," Bank of Lithuania Working Paper Series 46, Bank of Lithuania.

  10. Correia, Isabel & Teles, Pedro & Tristani, Oreste & De Fiore, Fiorella, 2014. "Credit Spreads and Credit Policies," CEPR Discussion Papers 9989, C.E.P.R. Discussion Papers.

    Cited by:

    1. Gaetano Gaballo & Ramon Marimon, 2016. "Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies," NBER Working Papers 22006, National Bureau of Economic Research, Inc.
    2. Andre Diniz & Bernardo Guimaraes, 2014. "Financial Disruption as a Cost of Sovereign Default: a quantative assessment," Discussion Papers 1427, Centre for Macroeconomics (CFM).

  11. Correia, Isabel & Teles, Pedro & Nicolini, Juan Pablo & Farhi, Emmanuel, 2011. "Unconventional Fiscal Policy at the Zero Bound," CEPR Discussion Papers 8193, C.E.P.R. Discussion Papers.

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    1. Garga, Vaishali & Singh, Sanjay R., 2021. "Output hysteresis and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 871-886.
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    4. Lancastre, Manuel, 2017. "Redistributive Tax Policy at the Zero Bound," MPRA Paper 98947, University Library of Munich, Germany.
    5. Francisco J. Buera & Juan Pablo Nicolini, 2014. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch," Working Papers 714, Federal Reserve Bank of Minneapolis.
    6. D'Acunto, Francesco & Hoang, Daniel & Weber, Michael, 2021. "Managing households' expectations with unconventional policies," Working Paper Series in Economics 148, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
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    50. Constantino Hevia & Juan Pablo Nicolini, 2015. "Monetary Policy and Dutch Disease: The Case of Price and Wage Rigidity," Department of Economics Working Papers 2015_4, Universidad Torcuato Di Tella.
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    113. Martin Guzman & Joseph E Stiglitz, 2020. "Towards a dynamic disequilibrium theory with randomness," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 36(3), pages 621-674.
    114. Matteo Salto, 2016. "Fiscal Policy after the Crisis – Workshop Proceedings," European Economy - Discussion Papers 035, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    115. Christiaan Kwaak, 2024. "Old-Keynesianism in the New Keynesian Model," De Economist, Springer, vol. 172(3), pages 167-232, September.
    116. Benjamin K. Johannsen, 2014. "When are the Effects of Fiscal Policy Uncertainty Large?," Finance and Economics Discussion Series 2014-40, Board of Governors of the Federal Reserve System (U.S.).
    117. Liu, Xiufen & Fang, Hongsheng & Zhao, Lexin & Xu, Wenli, 2023. "Do VAT cuts help stabilize employment? Evidence from China’s VAT rate reform," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 190-207.
    118. Michael Weber & Daniel Hoang & Francesco D'Acunto, 2015. "Inflation Expectations and Consumption Expenditure," 2015 Meeting Papers 1266, Society for Economic Dynamics.
    119. Alfred Duncan & Charles Nolan, 2015. "Objectives and Challenges of Macroprudential Policy," Working Papers 2015_22, Business School - Economics, University of Glasgow.
    120. Martin Eichenbaum, 2023. "On the limits of rational expectations for policy analysis," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(4), pages 1221-1237, November.
    121. Taisuke Nakata, 2015. "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis," Finance and Economics Discussion Series 2015-38, Board of Governors of the Federal Reserve System (U.S.).
    122. Avignone, Giuseppe & Girardone, Claudia & Pancaro, Cosimo & Pancotto, Livia & Reghezza, Alessio, 2022. "Making a virtue out of necessity: the effect of negative interest rates on bank cost efficiency," Working Paper Series 2718, European Central Bank.
    123. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Engineering a paradox of thrift recession," FRB Atlanta CQER Working Paper 2013-03, Federal Reserve Bank of Atlanta.
    124. McNelis, Paul D. & Yoshino, Naoyuki, 2016. "Finding stability in a time of prolonged crisis: Unconventional policy rules for Japan," Journal of Financial Stability, Elsevier, vol. 27(C), pages 122-136.
    125. Rubén Domínguez Díaz, 2021. "Hiring Stimulus and Precautionary Savings in a Liquidity Trap," ECONtribute Discussion Papers Series 072, University of Bonn and University of Cologne, Germany.
    126. Ferdinandusse, Marien & Checherita-Westphal, Cristina & Attinasi, Maria Grazia & Lalouette, Laure & Bańkowski, Krzysztof & Palaiodimos, Georgios & Trindade Campos, Maria Manuel, 2017. "Euro area fiscal stance," Occasional Paper Series 182, European Central Bank.
    127. Francisco J. Buera & Juan Pablo Nicolini, 2017. "Liquidity Traps and Monetary Policy: Managing a Credit Crunch: Online Appendix," Staff Report 541, Federal Reserve Bank of Minneapolis.
    128. David Cashin & Takashi Unayama, 2016. "Measuring Intertemporal Substitution in Consumption: Evidence from a VAT Increase in Japan," The Review of Economics and Statistics, MIT Press, vol. 98(2), pages 285-297, May.
    129. Croitorov, Olga & Giovannini, Massimo & Pfeiffer, Philipp & Ratto, Marco & Vogel, Lukas, 2022. "Fiscal Stabilisation in a Low-Interest and High-Debt Environment," VfS Annual Conference 2022 (Basel): Big Data in Economics 264142, Verein für Socialpolitik / German Economic Association.
    130. Lucas Llach & Pablo Schiaffino, 2017. "The Classics, Keynes, and the Keynesians: A Unified Formalization," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 43(3), pages 530-551, June.

  12. Teles, Pedro & Uhlig, Harald, 2010. "Is Quantity Theory Still Alive?," CEPR Discussion Papers 8049, C.E.P.R. Discussion Papers.

    Cited by:

    1. Julien Pinter, 2021. "Monetarist arithmetic at COVID-19 time: a take on how not to misapply the quantity theory of money," NIPE Working Papers 14/2021, NIPE - Universidade do Minho.
    2. Bussière Matthieu & Sahuc Jean-Guillaume & Pfister Christian, 2020. "The link between money and inflation since 2008 [Le lien entre monnaie et inflation depuis 2008]," Bulletin de la Banque de France, Banque de France, issue 232.
    3. Maciej Ryczkowski, 2021. "Money and inflation in inflation-targeting regimes – new evidence from time–frequency analysis," Journal of Applied Economics, Taylor & Francis Journals, vol. 24(1), pages 17-44, January.
    4. Ralf Fendel & Jan-Christoph Ruelke, 2014. "Expectations and the quantity equation - evidence from Eastern European countries," Applied Economics, Taylor & Francis Journals, vol. 46(3), pages 329-335, January.
    5. Scharnagl, Michael & Mandler, Martin, 2015. "The relationship of simple sum and Divisia monetary aggregates with real GDP and inflation: a wavelet analysis for the US," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112879, Verein für Socialpolitik / German Economic Association.
    6. Roberto Santis, 2015. "Quantity theory is alive: the role of international portfolio shifts," Empirical Economics, Springer, vol. 49(4), pages 1401-1430, December.
    7. Janice Boucher Breuer & John Mcdermott & Warren E. Weber, 2018. "Time Aggregation and the Relationship between Inflation and Money Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(2-3), pages 351-375, March.
    8. Maciej Ryczkowski, 2020. "Money and credit during normal times and house price booms: evidence from time-frequency analysis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(4), pages 835-861, November.
    9. el-Shagi, Makram & Giesen, Sebastian & Kelly, Logan J., 2011. "The Quantity Theory Revisited: A New Structural Approach," IWH Discussion Papers 7/2011, Halle Institute for Economic Research (IWH).
    10. Mr. Helge Berger & Mr. Henning Weber, 2012. "Money As Indicator for the Natural Rate of Interest," IMF Working Papers 2012/006, International Monetary Fund.
    11. Avouyi-Dovi, Sanvi & Sahuc, Jean-Guillaume, 2016. "On the sources of macroeconomic stability in the euro area," European Economic Review, Elsevier, vol. 83(C), pages 40-63.
    12. von Thadden, Leopold, 2012. "Monetary policy rules in an OLG model with non-superneutral money," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 147-166.
    13. Matheron, J. & Mojon, B. & Sahuc, J.G., 2012. "The sovereign debt crisis and monetary policy," Financial Stability Review, Banque de France, issue 16, pages 155-167, April.
    14. Franz Seitz & Markus A. Schmidt, 2014. "Money In Modern Macro Models: A Review of the Arguments," Journal of Reviews on Global Economics, Lifescience Global, vol. 3, pages 156-174.
    15. Jung, Alexander, 2024. "The quantity theory of money, 1870-2020," Working Paper Series 2940, European Central Bank.
    16. De Santis, Roberto A., 2012. "Quantity theory is alive: the role of international portfolio shifts," Working Paper Series 1435, European Central Bank.
    17. Matteo Barigozzi & Antonio Conti, 2013. "On the Stability of Euro Area Money Demand and its Implications for Monetary Policy," LEM Papers Series 2013/11, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    18. Markku Lanne & Jani Luoto & Henri Nyberg, 2014. "Is the Quantity Theory of Money Useful in Forecasting U.S. Inflation?," CREATES Research Papers 2014-26, Department of Economics and Business Economics, Aarhus University.
    19. Pavel Gertler & Boris Hofmann, 2016. "Monetary facts revisited," BIS Working Papers 566, Bank for International Settlements.
    20. Stefan Behrendt, 2013. "Monetary Transmission via the Central Bank Balance Sheet," Global Financial Markets Working Paper Series 49-2013, Friedrich-Schiller-University Jena.
    21. Claude Hillinger & Bernd Süssmuth & Marco Sunder, 2012. "The Quantity Theory of Money and Friedmanian Monetary Policy: An Empirical Investigation," CESifo Working Paper Series 3754, CESifo.
    22. Emilio Ocampo, 2020. "The Global Disinflation Puzzle. A Selective Review of the Theory and Evidence in an Historical Context," CEMA Working Papers: Serie Documentos de Trabajo. 726, Universidad del CEMA.
    23. Mandler, Martin & Scharnagl, Michael, 2014. "Money growth and consumer price inflation in the euro area: A wavelet analysis," Discussion Papers 33/2014, Deutsche Bundesbank.
    24. Luisanna Onnis & Patrizio Tirelli, 2015. "Shadow economy: Does it matter for money velocity?," Empirical Economics, Springer, vol. 49(3), pages 839-858, November.
    25. Lioui, Abraham & Tarelli, Andrea, 2019. "Macroeconomic environment, money demand and portfolio choice," European Journal of Operational Research, Elsevier, vol. 274(1), pages 357-374.
    26. 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.
    27. Maciej Ryczkowski, 2016. "Modern central banking from monetary perspective," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 15(4), pages 547-556, December.
    28. El-Shagi, Makram & Giesen, Sebastian & Kelly, Logan J., 2012. "Monetary Policy in a World Where Money (Also) Matters," IWH Discussion Papers 6/2012, Halle Institute for Economic Research (IWH).
    29. Atanas Christev & Yue Kang, 2015. "Money and Inflation: Is Monetary Policy Useful?," Manchester School, University of Manchester, vol. 83, pages 30-50, September.
    30. Gallegati, Marco & Giri, Federico & Fratianni, Michele, 2019. "Money growth and inflation: International historical evidence on high inflation episodes for developed countries," Bank of Finland Research Discussion Papers 1/2019, Bank of Finland.
    31. João Valle e Azevedo, 2010. "Forecasting Inflation (and the Business Cycle?) with Monetary Aggregates," Working Papers w201024, Banco de Portugal, Economics and Research Department.
    32. Han Gao & Mariano Kulish & Juan Pablo Nicolini, 2022. "Two Illustrations of the Quantity Theory of Money Reloaded," Working Papers 162, Red Nacional de Investigadores en Economía (RedNIE).
    33. Torre Cepeda Leonardo E. & Flores Segovia Miguel A., 2020. "Private Banking Credit and Economic Growth in Mexico: A State Level Panel Data Analysis 2005-2018," Working Papers 2020-17, Banco de México.
    34. Xiaojing Song & Thu Phuong Truong & Mark Tippett & John van der Burg, 2022. "The quantity theory of stock prices," The European Journal of Finance, Taylor & Francis Journals, vol. 28(17), pages 1685-1707, November.
    35. Gianni Amisano & Roberta Colavecchio, 2013. "Money Growth and Inflation: evidence from a Markov Switching Bayesian VAR," Macroeconomics and Finance Series 201304, University of Hamburg, Department of Socioeconomics.
    36. Bui Dieu Thao Nguyen, 2023. "A meta-analysis of the multiplier effects of the money supply on prices," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 50(4), pages 985-1024, November.
    37. Garcés Díaz Daniel, 2020. "On the Drivers of Inflation in Different Monetary Regimes," Working Papers 2020-16, Banco de México.
    38. Okotori, Tonprebofa & Gbalam, Eze, 2020. "CBN monetary policy and inflation nexus in Nigeria: an empirical approach," MPRA Paper 110523, University Library of Munich, Germany.
    39. Wang, Lei & Zhu, Taihui, 2021. "Population aging and money demand," Economics Letters, Elsevier, vol. 206(C).
    40. Claude Hillinger & Bernd Süssmuth & Marco Sunder, 2015. "The Quantity Theory of Money: Valid Only for High and Medium Inflation?," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 61(4), pages 315-329.
    41. Christian Pierdzioch & Jan-Christoph Rülke & Georg Stadtmann, 2011. "Survey Forecasts and Money Demand Functions: Some International Evidence," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 57(1), pages 5-14.
    42. Philipp F. M. Baumann & Enzo Rossi & Alexander Volkmann, 2020. "What Drives Inflation and How: Evidence from Additive Mixed Models Selected by cAIC," Papers 2006.06274, arXiv.org, revised Aug 2022.

  13. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2010. "Short and Long Interest Rate Targets," CEPR Discussion Papers 7935, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bernardino Adão & Pedro Teles, 2010. "Short and Long Interest Rate Targets," Working Papers w201015, Banco de Portugal, Economics and Research Department.
    2. Jeffrey R. Campbell & Jacob P. Weber, 2018. "Discretion Rather than Rules: Equilibrium Uniqueness and Forward Guidance with Inconsistent Optimal Plans," Working Paper Series WP-2018-14, Federal Reserve Bank of Chicago.
    3. McMahon, Michael & Peiris, M. Udara & Polemarchakis, Herakles, 2018. "Perils of unconventional monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 92-114.
    4. Lassaâd Mbarek & Hardik A. Marfatia & Sonja Juko, 2018. "Time-varying Response of Treasury Yields to Monetary Policy Shocks: Evidence from the Tunisian Bond Market," Working Papers 1243, Economic Research Forum, revised 23 Oct 2018.
    5. Li Lin & Dimitrios P. Tsomocos & Alexandros P. Vardoulakis, 2016. "On default and uniqueness of monetary equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(1), pages 245-264, June.
    6. Peiris, M.Udara & Polemarchakis, Herakles, 2015. "Quantitative Easing in an Open Economy : Prices, Exchange Rates and Risk Premia," The Warwick Economics Research Paper Series (TWERPS) 1094, University of Warwick, Department of Economics.
    7. McMahon, Michael & Peiris, Udara & Polemarchakis, Herakles, 2015. "Perils of quantitative easing," CRETA Online Discussion Paper Series 04, Centre for Research in Economic Theory and its Applications CRETA.
    8. Bernardino Adao & Isabel Correia & Pedro Teles, 2011. "Unique Monetary Equilibria with Interest Rate Rules," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(3), pages 432-442, July.
    9. Hoelle, Matthew, 2015. "On the Pareto efficiency of term structure targeting policies," Mathematical Social Sciences, Elsevier, vol. 77(C), pages 62-69.
    10. Matthew Hoelle, 2018. "Stationary inflation and Pareto efficiency with incomplete markets and a large open economy," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(1), pages 115-128, April.
    11. Michael Magill & Martine Quinzii, 2014. "Term structure and forward guidance as instruments of monetary policy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(1), pages 1-32, May.
    12. Magill, Michael & Quinzii, Martine, 2014. "Anchoring expectations of inflation," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 86-105.

  14. Pedro Teles, 2009. "On the Assumptions of the Optimal Taxation Problem: Is Distortionary Taxation a Burden or a Blessing?," 2009 Meeting Papers 926, Society for Economic Dynamics.

    Cited by:

    1. Lewis, Vivien, 2012. "Optimal monetary policy and firm entry," IMFS Working Paper Series 50, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).

  15. Teles, Pedro & Tristani, Oreste & De Fiore, Fiorella, 2009. "Monetary Policy and the Financing of Firms," CEPR Discussion Papers 7419, C.E.P.R. Discussion Papers.

    Cited by:

    1. Waters, George A., 2013. "Quantity rationing of credit and the Phillips curve," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 68-80.
    2. Fiorella De Fiore & Oreste Tristani, 2019. "(Un)conventional policy and the effective lower bound," BIS Working Papers 804, Bank for International Settlements.
    3. Javier Andr√Âs & √Ìscar Arce & Carlos Thomas, 2013. "Banking Competition, Collateral Constraints, and Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(s2), pages 87-125, December.
    4. Pedro Teles & Oreste Tristani & Fiorella De Fiore & Isabel Correia, 2013. "Credit Spreads and the Zero Bound on Interest Rates," 2013 Meeting Papers 1124, Society for Economic Dynamics.
    5. Michael Weber & Christian Dorion & Alexandre Jeanneret & Harjoat Bhamra, 2017. "Deflation, Sticky Leverage and Asset Prices," 2017 Meeting Papers 796, Society for Economic Dynamics.
    6. Salem Abo-Zaid & Anastasia Zervou, 2016. "Financing of Firms, Labor Reallocation and the Distributional Role of Monetary Policy," Working Papers 20161020_001, Texas A&M University, Department of Economics.
    7. Correia, Isabel & De Fiore, Fiorella & Teles, Pedro & Tristani, Oreste, 2021. "Credit subsidies," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 2-14.
    8. Eleni Iliopulos & Thepthida Sopraseuth, 2013. "L'intermédiation financière dans l'analyse macroéconomique : le défi de la crise," PSE-Ecole d'économie de Paris (Postprint) hal-00821532, HAL.
    9. Lien Laureys & Roland Meeks & Boromeus Wanengkirtyo, 2020. "Optimal simple objectives for monetary policy when banks matter," CAMA Working Papers 2020-98, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    10. Sylvain Leduc & Jean†Marc Natal, 2018. "Monetary and Macroprudential Policies in a Leveraged Economy," Economic Journal, Royal Economic Society, vol. 128(609), pages 797-826, March.
    11. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2019. "Default, Bailouts and the Vertical Structure of Financial Intermediaries," Department of Economics Working Papers 2019_04, Durham University, Department of Economics.
    12. Jakab, Zoltan & Kumhof, Michael, 2015. "Banks are not intermediaries of loanable funds – and why this matters," Bank of England working papers 529, Bank of England.
    13. Darmouni, Olivier & Geisecke, Oliver & Rodnyanky, Alexander, 2019. "The Bond Lending Channel of Monetary Policy," MPRA Paper 95141, University Library of Munich, Germany.
    14. Jakab, Zoltan & Kumhof, Michael, 2018. "Banks are not intermediaries of loanable funds — facts, theory and evidence," Bank of England working papers 761, Bank of England, revised 17 Jan 2020.
    15. Igarashi, Yoske & Liu, Keqing, 2024. "Should macroprudential policy be countercyclical?," Journal of Economic Dynamics and Control, Elsevier, vol. 158(C).
    16. Correia, Isabel & Teles, Pedro & Tristani, Oreste & De Fiore, Fiorella, 2014. "Credit Spreads and Credit Policies," CEPR Discussion Papers 9989, C.E.P.R. Discussion Papers.
    17. Gulan, Adam & Haavio, Markus & Kilponen, Juha, 2014. "Kiss me deadly: From Finnish great depression to great recession," Bank of Finland Research Discussion Papers 24/2014, Bank of Finland.
    18. Gulan, Adam & Haavio, Markus & Kilponen, Juha, 2021. "Can large trade shocks cause crises? The case of the Finnish–Soviet trade collapse," Journal of International Economics, Elsevier, vol. 131(C).
    19. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2020. "Online Appendix to "Output Gap, Monetary Policy Trade-offs, and Financial Frictions"," Online Appendices 20-29, Review of Economic Dynamics.
    20. Kumhof, Michael & Wang, Xuan, 2018. "Banks, money and the zero lower bound on deposit rates," Bank of England working papers 752, Bank of England, revised 19 Nov 2020.
    21. Occhino Filippo & Pescatori Andrea, 2014. "Leverage, investment, and optimal monetary policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 14(1), pages 511-531, January.
    22. Schabert, Andreas, 2014. "Optimal monetary policy, asset purchases, and credit market frictions," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100619, Verein für Socialpolitik / German Economic Association.
    23. Lieberknecht, Philipp, 2018. "Financial Frictions, the Phillips Curve and Monetary Policy," MPRA Paper 89429, University Library of Munich, Germany.
    24. Volker Wieland, 2012. "Model comparison and robustness: a proposal for policy analysis after the financial crisis," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 2, pages 33-67, Edward Elgar Publishing.
    25. Verona, Fabio & Martins, Manuel M.F. & Drumond, Inês, 2017. "Financial shocks, financial stability, and optimal Taylor rules," Journal of Macroeconomics, Elsevier, vol. 54(PB), pages 187-207.
    26. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2017. "Output gap, monetary policy trade-offs and financial frictions," Working Paper 2017/8, Norges Bank.
    27. Jaccard, Ivan, 2018. "Stochastic discounting and the transmission of money supply shocks," Working Paper Series 2174, European Central Bank.
    28. Jaccard, Ivan, 2024. "Monetary asymmetries without (and with) price stickiness," Working Paper Series 2928, European Central Bank.
    29. Kantur, Zeynep & Özcan, Gülserim, 2019. "Optimal Policy Implications of Financial Uncertainty," MPRA Paper 95920, University Library of Munich, Germany.
    30. Fabio Verona & Manuel M. F. Martins & Inês Drumond, 2014. "Financial Shocks and Optimal Monetary Policy Rules," CEF.UP Working Papers 1402, Universidade do Porto, Faculdade de Economia do Porto.
    31. Saroj Bhattarai & Jae Won Lee & Woong Yong Park, 2013. "Optimal monetary policy in a currency union with interest rate spreads," Globalization Institute Working Papers 150, Federal Reserve Bank of Dallas.

  16. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2006. "On the Relevance of Exchange Rate Regimes for Stabilization Policy," CEPR Discussion Papers 5797, C.E.P.R. Discussion Papers.

    Cited by:

    1. Farhi, Emmanuel & Gopinath, Gita & Itskhoki, Oleg, 2011. "Fiscal Devaluations," CEPR Discussion Papers 8721, C.E.P.R. Discussion Papers.
    2. Sihao Chen & Michael B. Devereux & Jenny Xu & Kang Shi, 2018. "Exchange Rates, Local Currency Pricing and International Tax Policies," NBER Working Papers 25111, National Bureau of Economic Research, Inc.
    3. Groll, Dominik, 2013. "When do Countries Benefit from Forming a Monetary Union?," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79787, Verein für Socialpolitik / German Economic Association.
    4. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2010. "Optimal monetary policy in open economies," Working Paper Series 2010-13, Federal Reserve Bank of San Francisco.
    5. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819.
    6. Constantino Hevia & Juan Pablo Nicolini, 2015. "Política Monetaria y la Enfermedad Holandesa: Rigidez de Precios y de Salarios," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(2), pages 28-60, August.
    7. Giancarlo Corsetti, 2008. "A Modern Reconsideration of the Theory of Optimal Currency Areas," European Economy - Economic Papers 2008 - 2015 308, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    8. Ferrero, Andrea, 2009. "Fiscal and monetary rules for a currency union," Journal of International Economics, Elsevier, vol. 77(1), pages 1-10, February.
    9. Giancarlo Corsetti, 2007. "New Open Economy Macroeconomics," RSCAS Working Papers 2007/27, European University Institute.
    10. Christoph Kaufmann, 2016. "Optimal Fiscal Substitutes for the Exchange Rate in a Monetary Union," Working Paper Series in Economics 86, University of Cologne, Department of Economics.
    11. Evers, Michael P., 2007. "Optimum Policy Domains in an Interdependent World," Bonn Econ Discussion Papers 12/2007, University of Bonn, Bonn Graduate School of Economics (BGSE).
    12. Constantino Hevia & Juan Pablo Nicolini, 2015. "Monetary Policy and Dutch Disease: The Case of Price and Wage Rigidity," Department of Economics Working Papers 2015_4, Universidad Torcuato Di Tella.
    13. Gilchrist, Simon & Schoenle, Raphael & Sim, Jae & Zakrajšek, Egon, 2023. "Financial heterogeneity and monetary union," Journal of Monetary Economics, Elsevier, vol. 139(C), pages 21-40.
    14. Juan Pablo Nicolini & Constantino Hevia, 2004. "Optimal Devaluations," Econometric Society 2004 Latin American Meetings 337, Econometric Society.
    15. Andrea Raffo & Andrea Ferrero & Gauti Eggertsson, 2013. "Structural Reforms in a Monetary Union: The Role of the ZLB," 2013 Meeting Papers 637, Society for Economic Dynamics.
    16. Devereux, Michael B. & Engel, Charles, 2007. "Expenditure switching versus real exchange rate stabilization: Competing objectives for exchange rate policy," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2346-2374, November.
    17. Bernardino Adao & Isabel Correia & Pedro Teles, 2010. "Wage and Price Rigidity in a Monetary Union," Open Economies Review, Springer, vol. 21(1), pages 109-126, February.
    18. Egorov, Konstantin & Mukhin, Dmitry, 2023. "Optimal policy under dollar pricing," SAFE Working Paper Series 377, Leibniz Institute for Financial Research SAFE.
    19. Lukas Vogel & Werner Roeger & Bernhard Herz, 2012. "The performance of simple fiscal policy rules in monetary union," European Economy - Economic Papers 2008 - 2015 470, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    20. Enrique G. Mendoza, 2005. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," NBER Working Papers 11691, National Bureau of Economic Research, Inc.
    21. Chan Wang & Heng-fu Zou, 2013. "On the efficiency of monetary and fiscal policy in open economies," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 179-206, May.
    22. Han Gao & Juan Pablo Nicolini, 2024. "The Recent Rise in US Inflation: Policy Lessons from the Quantity Theory," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 44(2), July.
    23. Gauti B. Eggertsson & Andrea Ferrero & Andrea Raffo, 2013. "Can structural reforms help Europe?," International Finance Discussion Papers 1092, Board of Governors of the Federal Reserve System (U.S.).
    24. Carla Soares, 2008. "Impact on Welfare of Country Heterogeneity in a Currency Union," Working Papers w200814, Banco de Portugal, Economics and Research Department.
    25. Gianluca Benigno & Bianca De Paoli, 2010. "On the International Dimension of Fiscal Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1523-1542, December.
    26. Konstantin Egorov & Dmitry Mukhin, 2020. "Optimal Policy under Dollar Pricing," CESifo Working Paper Series 8272, CESifo.
    27. Fizza Malik, 2016. "Modeling Dynamics of Exchange Rates Volatility: A Case of Pakistan from 1980-2010," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(3), pages 144-161, September.
    28. Jean-Baptiste Michau, 2021. "Open Economy Secular Stagnation and Financial Integration," Working Papers 2021-19, Center for Research in Economics and Statistics.
    29. Kollmann, Robert, 2010. "Comment on ‘Fiscal Policy, Intercountry Adjustment and the Real Exchange Rate within Europe (C. Allsopp and D. Vines, Oxford University)," MPRA Paper 69891, University Library of Munich, Germany.
    30. Dmitriy Sergeyev, 2016. "Optimal Macroprudential and Monetary Policy in a Currency Union," 2016 Meeting Papers 463, Society for Economic Dynamics.
    31. Lars Calmfors & Giancarlo Corsetti & Michael P. Devereux & Seppo Honkapohja & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2007. "Chapter 2: Macroeonomic adjustment in the euro area – the cases of Ireland and Italy," EEAG Report on the European Economy, CESifo, vol. 0, pages 59-72, February.
    32. Angelo Marsiglia Fasolo, 2014. "The Ramsey Steady State under Optimal Monetary and Fiscal Policy for Small Open Economies," Working Papers Series 357, Central Bank of Brazil, Research Department.
    33. Francesco Franco, 2011. "Adjusting to external imbalances within the EMU, the case of Portugal," Nova SBE Working Paper Series wp556, Universidade Nova de Lisboa, Nova School of Business and Economics.
    34. Chan Wang & Heng-fu Zou, 2013. "Optimal monetary policy in open economies: the role of reference currency in vertical production and trade," CEMA Working Papers 586, China Economics and Management Academy, Central University of Finance and Economics.

  17. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2005. "Monetary Policy with Single Instrument Feedback Rules," CEPR Discussion Papers 4948, C.E.P.R. Discussion Papers.

    Cited by:

    1. Giancarlo Corsetti & Paolo Pesenti, 2005. "The simple geometry of transmission and stabilization in closed and open economies," Staff Reports 209, Federal Reserve Bank of New York.
    2. Giancarlo Corsetti, 2008. "A Modern Reconsideration of the Theory of Optimal Currency Areas," European Economy - Economic Papers 2008 - 2015 308, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Andrew Atkeson & V. V. Chari & Patrick J. Kehoe, 2007. "On the optimal choice of a monetary policy instrument," Staff Report 394, Federal Reserve Bank of Minneapolis.
    4. Andrew Atkeson & V. V. Chari & Patrick Kehoe, 2009. "Sophisticated Monetary Policies," NBER Working Papers 14883, National Bureau of Economic Research, Inc.
    5. Loisel, O., 2006. "Bubble-free interest-rate rules," Working papers 161, Banque de France.

  18. Pedro Teles & Bernardino Adao & Isabel Correia, 2005. "Exchange Rate Regimes," 2005 Meeting Papers 382, Society for Economic Dynamics.

    Cited by:

    1. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2010. "Optimal monetary policy in open economies," Working Paper Series 2010-13, Federal Reserve Bank of San Francisco.
    2. Juan Pablo Nicolini & Constantino Hevia, 2004. "Optimal Devaluations," Econometric Society 2004 Latin American Meetings 337, Econometric Society.
    3. Enrique G. Mendoza, 2005. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," NBER Working Papers 11691, National Bureau of Economic Research, Inc.
    4. Costain, James & de Blas, Beatriz, 2012. "The role of fiscal delegation in a monetary union: a survey of the political economy issues," Working Papers in Economic Theory 2012/11, Universidad Autónoma de Madrid (Spain), Department of Economic Analysis (Economic Theory and Economic History).

  19. Bernardino Adão & Isabel Correia & Pedro Teles, 2004. "Monetary policy with state contingent interest rates," Working Paper Series WP-04-26, Federal Reserve Bank of Chicago.

    Cited by:

    1. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2005. "Monetary Policy with Single Instrument Feedback Rules," CEPR Discussion Papers 4948, C.E.P.R. Discussion Papers.
    2. Carlos Garcia & Wildo Gonzalez, 2010. "Is more exchange rate intervention necessary in small open economies? The role of risk premium and commodity shocks," ILADES-UAH Working Papers inv248, Universidad Alberto Hurtado/School of Economics and Business.
    3. García, Carlos J. & González, Wildo D., 2013. "Exchange rate intervention in small open economies: The role of risk premium and commodity price shocks," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 424-447.

  20. Correia, Isabel & Teles, Pedro & Nicolini, Juan Pablo, 2003. "Optimal Fiscal and Monetary Policy: Equivalence Results," CEPR Discussion Papers 3730, C.E.P.R. Discussion Papers.

    Cited by:

    1. Lemoine, Matthieu & Lindé, Jesper, 2016. "Fiscal Consolidation Under Imperfect Credibility," Working Paper Series 322, Sveriges Riksbank (Central Bank of Sweden).
    2. Luigi MARATTIN & Simone SALOTTI, 2010. "The Response of Private Consumption to Different Public Spending Categories:VAR Evidence from UK," EcoMod2010 259600111, EcoMod.
    3. Garga, Vaishali & Singh, Sanjay R., 2021. "Output hysteresis and optimal monetary policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 871-886.
    4. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, C.E.P.R. Discussion Papers.
    5. Farhi, Emmanuel & Gopinath, Gita & Itskhoki, Oleg, 2011. "Fiscal Devaluations," CEPR Discussion Papers 8721, C.E.P.R. Discussion Papers.
    6. Narayana R. Kocherlakota, 2005. "Optimal monetary policy: what we know and what we don’t know," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 29(Oct), pages 10-19.
    7. Sihao Chen & Michael B. Devereux & Jenny Xu & Kang Shi, 2018. "Exchange Rates, Local Currency Pricing and International Tax Policies," NBER Working Papers 25111, National Bureau of Economic Research, Inc.
    8. Stephanie Schmitt-Grohe & Martin Uribe, 2008. "Policy implications of the New Keynesian Phillips curve," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Fall), pages 435-465.
    9. Andreas Schabert, 2010. "Optimal Central Bank Lending," Tinbergen Institute Discussion Papers 10-057/2, Tinbergen Institute.
    10. Beetsma, Roel & Jensen, Henrik, 2003. "Mark-Up Fluctuations and Fiscal Policy Stabilization in a Monetary Union," CEPR Discussion Papers 4020, C.E.P.R. Discussion Papers.
    11. Pierpaolo Benigno & Michael Woodford, 2006. "Optimal Inflation Targeting Under Alternative Fiscal Regimes," Working Papers Central Bank of Chile 407, Central Bank of Chile.
    12. Constantino Hevia & Juan Pablo Nicolini, 2015. "Política Monetaria y la Enfermedad Holandesa: Rigidez de Precios y de Salarios," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(2), pages 28-60, August.
    13. George-Marios Angeletos & Karthik A. Sastry, 2018. "Managing Expectations: Instruments vs. Targets," NBER Working Papers 25404, National Bureau of Economic Research, Inc.
    14. Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
    15. Yoosoon Chang & Fabio Gómez-Rodríguez & Christian Matthes, 2023. "The Influence of Fiscal and Monetary Policies on the Shape of the Yield Curve," CAMA Working Papers 2023-65, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    16. Antje Berndt & Hanno Lustig & Sevin Yeltekin, "undated". "How does the U.S. government finance fiscal shocks?," GSIA Working Papers 2006-E70, Carnegie Mellon University, Tepper School of Business.
    17. Patrick J. Kehoe & Virgiliu Midrigan & Elena Pastorino, 2018. "Evolution of Modern Business Cycle Models: Accounting for the Great Recession," Journal of Economic Perspectives, American Economic Association, vol. 32(3), pages 141-166, Summer.
    18. Alberto Petrucci, 2011. "Nonoptimality of the Friedman Rule with Capital Income Taxation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 163-183, February.
    19. O. Loisel, 2015. "The Implementation of Stabilization Policy," Working papers 556, Banque de France.
    20. Iovino, Luigi & Angeletos, George-Marios & La'O, Jennifer, 2020. "Learning over the Business Cycle: Policy Implications," CEPR Discussion Papers 14577, C.E.P.R. Discussion Papers.
    21. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2001. "Gaps and Triangles," CEPR Discussion Papers 2668, C.E.P.R. Discussion Papers.
    22. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.
    23. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2002. "Optimal fiscal and monetary policy: equivalence results," Working Paper Series WP-02-16, Federal Reserve Bank of Chicago.
    24. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2011. "Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective," Discussion Papers 1512, Centre for Macroeconomics (CFM), revised Feb 2015.
    25. Gregor W. Smith, 2006. "The Spectre Of Deflation: A Review Of Empirical Evidence," Working Paper 1086, Economics Department, Queen's University.
    26. Emmanuel Farhi & Isabel Correia & Juan Pablo Nicolini & Pedro Teles, "undated". "Unconventional Fiscal Policy at the Zero Bound," Working Paper 20945, Harvard University OpenScholar.
    27. Luigi MARATTIN & Massimiliano MARZO & Paolo ZAGAGLIA, 2010. "Distortionary Tax Instruments and Implementable Monetary Policy," EcoMod2010 259600110, EcoMod.
    28. Lewis, Vivien, 2012. "Optimal monetary policy and firm entry," IMFS Working Paper Series 50, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    29. Firouz Gahvari & Luca Micheletto, 2019. "Heterogeneity, monetary policy, Mirrleesian taxes, and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 983-1018, June.
    30. Fiorella De Fiore & Pedro Teles, 2002. "The optimal mix of taxes on money, consumption and income," Working Paper Series WP-02-03, Federal Reserve Bank of Chicago.
    31. Dellas, H. & Diba, B. & Loisel, O., 2010. "Financial Shocks and Optimal Policy," Working papers 277, Banque de France.
    32. Bianca De Paoli & Matthias Paustian, 2013. "Coordinating monetary and macroprudential policies," Staff Reports 653, Federal Reserve Bank of New York.
    33. Berentsen, Aleksander & Waller, Christopher, 2015. "Optimal Stabilization Policy With Search Externalities," Macroeconomic Dynamics, Cambridge University Press, vol. 19(3), pages 669-700, April.
    34. Constantino Hevia & Juan Pablo Nicolini, 2015. "Monetary Policy and Dutch Disease: The Case of Price and Wage Rigidity," Department of Economics Working Papers 2015_4, Universidad Torcuato Di Tella.
    35. Pierpaolo Benigno & Michael Woodford, 2003. "Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach," NBER Working Papers 9905, National Bureau of Economic Research, Inc.
    36. Stéphane Auray & Beatriz de Blaz & Aurélien Eyquem, 2010. "Ramsey Policies in a Small Open Economy with Sticky Prices and Capital," Post-Print halshs-00588096, HAL.
    37. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    38. Erceg, Christopher J. & Lindé, Jesper, 2013. "Fiscal consolidation in a currency union: Spending cuts vs. tax hikes," Journal of Economic Dynamics and Control, Elsevier, vol. 37(2), pages 422-445.
    39. Andrew Atkeson & V. V. Chari & Patrick Kehoe, 2009. "Sophisticated Monetary Policies," NBER Working Papers 14883, National Bureau of Economic Research, Inc.
    40. Sushant Acharya & Julien Bengui & Keshav Dogra & Shu Lin Wee, 2017. "Slow recoveries and unemployment traps: monetary policy in a time of hysteresis," Staff Reports 831, Federal Reserve Bank of New York.
    41. Iovino, Luigi & La’O, Jennifer & Mascarenhas, Rui, 2022. "Optimal monetary policy and disclosure with an informationally-constrained central banker," Journal of Monetary Economics, Elsevier, vol. 125(C), pages 151-172.
    42. Gahvari, Firouz & Micheletto, Luca, 2012. "Monetary policy and redistribution: What can or cannot be neutralized with Mirrleesian taxes," Working Paper Series, Center for Fiscal Studies 2012:5, Uppsala University, Department of Economics.
    43. Uhlig, H.F.H.V.S., 2002. "One Money, But Many Fiscal Policies in Europe : What are the Consequences?," Discussion Paper 2002-32, Tilburg University, Center for Economic Research.
    44. Siu, Henry E., 2004. "Optimal fiscal and monetary policy with sticky prices," Journal of Monetary Economics, Elsevier, vol. 51(3), pages 575-607, April.
    45. Lieberknecht, Philipp, 2018. "Financial Frictions, the Phillips Curve and Monetary Policy," MPRA Paper 89429, University Library of Munich, Germany.
    46. George-Marios Angeletos, 2018. "Frictional Coordination," Journal of the European Economic Association, European Economic Association, vol. 16(3), pages 563-603.
    47. Bernardino Adão & Isabel Correia & Pedro Teles, 2004. "The Monetary Transmission Mechanism: Is It Relevant for Policy?," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 310-319, 04/05.
    48. Javier Bianchi, 2019. "Monetary Independence and Rollover Crises," 2019 Meeting Papers 1367, Society for Economic Dynamics.
    49. Juan Pablo Nicolini & Constantino Hevia, 2004. "Optimal Devaluations," Econometric Society 2004 Latin American Meetings 337, Econometric Society.
    50. Ms. Garima Vasishtha & Mr. Taimur Baig & Mr. Manmohan S. Kumar & Ms. Edda Zoli, 2006. "Fiscal and Monetary Nexus in Emerging Market Economies: How Does Debt Matter?," IMF Working Papers 2006/184, International Monetary Fund.
    51. Ascari, Guido & Rankin, Neil, 2007. "Perpetual youth and endogenous labor supply: A problem and a possible solution," Journal of Macroeconomics, Elsevier, vol. 29(4), pages 708-723, December.
    52. Lorenzo Forni & Mehrab Kiarsi, 2023. "Optimal Climate and Monetary-Fiscal Policy in a Climate-DSGE Framework," "Marco Fanno" Working Papers 0299, Dipartimento di Scienze Economiche "Marco Fanno".
    53. De Paoli, Bianca, 2009. "Monetary policy and welfare in a small open economy," Journal of International Economics, Elsevier, vol. 77(1), pages 11-22, February.
    54. Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Optimal Fiscal and Monetary Policy Under Sticky Prices," Departmental Working Papers 200105, Rutgers University, Department of Economics.
    55. Fabian Eser, 2009. "Optimal Fiscal Stabilisation through Government Spending," Economics Papers 2009-W14, Economics Group, Nuffield College, University of Oxford.
    56. 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.
    57. Bernardino Adao & Isabel Correia & Pedro Teles, 2010. "Wage and Price Rigidity in a Monetary Union," Open Economies Review, Springer, vol. 21(1), pages 109-126, February.
    58. Tahbaz-Salehi, Alireza & La'O, Jennifer, 2020. "Optimal Monetary Policy in Production Networks," CEPR Discussion Papers 14944, C.E.P.R. Discussion Papers.
    59. Bianca De Paoli & Matthias Paustian, 2017. "Coordinating Monetary and Macroprudential Policies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(2-3), pages 319-349, March.
    60. Femminis, Gianluca & Piccirilli, Giulio, 2023. "Optimal policy with dispersed information and uncertain monetary transmission," Economics Letters, Elsevier, vol. 229(C).
    61. Hanno Lustig & Christopher Sleet & Sevin Yeltekin, 2005. "Fiscal Hedging and the Yield Curve," NBER Working Papers 11687, National Bureau of Economic Research, Inc.
    62. Bernardino Adão & Pedro Teles & Isabel Horta Correia, 2006. "On the Relevance of Exchange Rate Regimes for Stabilization Policy," Working Papers w200616, Banco de Portugal, Economics and Research Department.
    63. Yongseung Jung, 2015. "Price Stability in Economies with Habit Persistence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(4), pages 517-549, June.
    64. Giorgio Motta & Raffaele Rossi, 2013. "Ramsey monetary and fiscal policy: the role of consumption taxation," Working Papers 44449031, Lancaster University Management School, Economics Department.
    65. Tao Peng, 2012. "A Note on the implementation of the Pareto efficient allocation in the Lagos-Wright model," Economics Bulletin, AccessEcon, vol. 32(1), pages 27-36.
    66. F. Langot & L. Patureau & T. Sopraseuth, 2014. "Fiscal Devaluation and Structural Gaps," Working papers 508, Banque de France.
    67. Wang, Gaowang & Zou, Heng-fu, 2020. "Optimal fiscal and monetary policy in economies with capital," MPRA Paper 102753, University Library of Munich, Germany.
    68. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
    69. Yoosoon Chang & Yongok Choi & Chang Sik Kim & J. Isaac Miller & Joon Y. Park, 2024. "Common Trends and Country Specific Heterogeneities in Long-Run World Energy Consumption," CAMA Working Papers 2024-04, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    70. Lioui, Abraham & Poncet, Patrice, 2012. "On model ambiguity and money neutrality," Journal of Macroeconomics, Elsevier, vol. 34(4), pages 1020-1033.
    71. Gianluca Benigno & Bianca De Paoli, 2010. "On the International Dimension of Fiscal Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1523-1542, December.
    72. Pedro Teles, 2003. "The optimal price of money," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 27(Q II), pages 29-39.
    73. Konstantin Egorov & Dmitry Mukhin, 2020. "Optimal Policy under Dollar Pricing," CESifo Working Paper Series 8272, CESifo.
    74. Marcela Meirelles Aurelio, 2005. "The performance of monetary and fiscal rules in an open economy with imperfect capital mobility," Research Working Paper RWP 05-01, Federal Reserve Bank of Kansas City.
    75. Isabel Correia, 2010. "Consumption Taxes and Redistribution," American Economic Review, American Economic Association, vol. 100(4), pages 1673-1694, September.
    76. Mehrab Kiarsi, 2022. "Tax smoothing and optimal inflation persistence in RBC monetary models revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(5), pages 465-486, November.
    77. David Arseneau, 2007. "The Inflation Tax in an Open Economy with Imperfect Competition," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(1), pages 126-147, January.
    78. V. V. Chari & Patrick J. Kehoe, 2006. "Modern macroeconomics in practice: how theory is shaping policy," Staff Report 376, Federal Reserve Bank of Minneapolis.
    79. Correia, Isabel & Adão, Bernardino, 2010. "Labor Immobility and the Transmission Mechanism of Monetary Policy in a Monetary Union," CEPR Discussion Papers 8068, C.E.P.R. Discussion Papers.
    80. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2008. "New Keynesian models: not yet useful for policy analysis," Staff Report 409, Federal Reserve Bank of Minneapolis.
    81. Chiara Forlati, 2004. "On optimal monetary and fiscal policy interactions in open economies," Economics Working Papers 949, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2006.
    82. Kang, Minwook & Kim, Eungsik, 2023. "A government policy with time-inconsistent consumers," Journal of Economic Behavior & Organization, Elsevier, vol. 214(C), pages 44-67.
    83. Claudio Cesaroni, 2017. "Optimal Long-Run Inflation and the Informal Economy," Bank of Lithuania Working Paper Series 46, Bank of Lithuania.
    84. Valles, Javier, 2004. "Comments on "Monetary and fiscal interactions in open economies"," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 353-356, June.
    85. Angelo Marsiglia Fasolo, 2014. "The Ramsey Steady State under Optimal Monetary and Fiscal Policy for Small Open Economies," Working Papers Series 357, Central Bank of Brazil, Research Department.
    86. Carlos Gustavo Machicado, 2006. "Welfare Gains from Optimal Policy in a Partially Dollarized Economy," Development Research Working Paper Series 10/2006, Institute for Advanced Development Studies.
    87. Martin Gonzalez-Eiras & Dirk Niepelt, 2015. "Politico-Economic Equivalence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 843-862, October.
    88. Lilia Cavallari & Debora Di Gioacchino, 2005. "Macroeconomic Stabilization in the EMU: Rules Versus Institutions," Review of Development Economics, Wiley Blackwell, vol. 9(2), pages 264-276, May.

  21. Javier Díaz-Giménez & Giorgia Giovannetti & Ramon Marimon & Pedro Teles, 2003. "Nominal Debt as a Burden on Monetary Policy," Working Papers 8, Barcelona School of Economics.

    Cited by:

    1. Klein, Paul, 2004. "Time Consistent Public Expenditures," CEPR Discussion Papers 4582, C.E.P.R. Discussion Papers.
    2. Adam, Klaus, 2011. "Government debt and optimal monetary and fiscal policy," European Economic Review, Elsevier, vol. 55(1), pages 57-74, January.
    3. Niemann, Stefan & Pichler, Paul, 2014. "Collateral, liquidity and debt sustainability," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100617, Verein für Socialpolitik / German Economic Association.
    4. Begoña Domínguez & Pedro Gomis‐Porqueras, 2021. "On the Time Inconsistency of Optimal Monetary and Fiscal Policies with Many Consumer Goods," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(1), pages 60-83, January.
    5. Westerhout, Ed, 2021. "Inflation-Linked Bonds, Nominal Bonds, and Countercyclical Monetary Policies," Other publications TiSEM ee384b1f-4e6f-4f30-821e-d, Tilburg University, School of Economics and Management.
    6. Gomez-Gonzalez, Patricia, 2019. "Inflation-linked public debt in emerging economies," Journal of International Money and Finance, Elsevier, vol. 93(C), pages 313-334.
    7. Adam, Klaus & Billi, Roberto M., 2013. "Distortionary Fiscal Policy and Monetary Policy Goals," Working Paper Series 278, Sveriges Riksbank (Central Bank of Sweden).
    8. Pintér, Gábor, 2022. "The procyclicality of inflation-linked debt," Economics Letters, Elsevier, vol. 218(C).
    9. Fernando Martin, 2009. "On the Joint Determination of Fiscal and Monetary Policy," Discussion Papers dp09-01, Department of Economics, Simon Fraser University.
    10. Ellison, Martin & Rankin, Neil, 2007. "Optimal monetary policy when lump-sum taxes are unavailable: A reconsideration of the outcomes under commitment and discretion," Journal of Economic Dynamics and Control, Elsevier, vol. 31(1), pages 219-243, January.
    11. Westerhout, Ed, 2016. "A comparison of nominal and indexed debt under fiscal constraints," CEPR Discussion Papers 11141, C.E.P.R. Discussion Papers.
    12. Adam, Klaus & Billi, Roberto M., 2006. "Monetary conservatism and fiscal policy," Working Paper Series 663, European Central Bank.
    13. Antoine Camous & Dmitry Matveev, 2023. "The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence," The Economic Journal, Royal Economic Society, vol. 133(649), pages 1-29.
    14. Ricardo Nunes & Davide Debortoli, 2007. "Political Disagreement, Lack of Commitment and the Level of Debt," 2007 Meeting Papers 725, Society for Economic Dynamics.
    15. Fernando M. Martin, 2013. "Debt, inflation and central bank independence," Working Papers 2013-017, Federal Reserve Bank of St. Louis.
    16. Paul Pichler & Gerhard Sorger & Stefan Niemann, 2011. "Public debt, discretionary policy, and inflation persistence," 2011 Meeting Papers 887, Society for Economic Dynamics.
    17. Haydory Akbar Ahmed, 2020. "Monetary base and federal government debt in the long‐run: A non‐linear analysis," Bulletin of Economic Research, Wiley Blackwell, vol. 72(2), pages 167-184, April.
    18. Niemann, S, 2009. "Dynamic Monetary-Fiscal Interactions and the Role of Monetary Conservatism," Economics Discussion Papers 2899, University of Essex, Department of Economics.
    19. Campbell Leith & Simon Wren-Lewis, 2006. "Fiscal Sustainability in a New Keynesian Model," Working Papers 2006_11, Business School - Economics, University of Glasgow, revised Nov 2008.
    20. Stefan Niemann & Paul Pichler & Gerhard Sorger, 2013. "Central Bank Independence And The Monetary Instrument Problem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 1031-1055, August.
    21. Fernando M. Martin, 2010. "Government Policy in Monetary Economies," Discussion Papers dp10-01, Department of Economics, Simon Fraser University.
    22. Campbell Leith & Simon Wren-Lewis, 2010. "Discretionary policy in a monetary union with sovereign debt," Working Papers 2010_23, Business School - Economics, University of Glasgow.
    23. Sunder-Plassmann, Laura, 2020. "Infation, default and sovereign debt: The role of denomination and ownership," Journal of International Economics, Elsevier, vol. 127(C).
    24. Wenxin Du & Carolin E. Pflueger & Jesse Schreger, 2020. "Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy," Journal of Finance, American Finance Association, vol. 75(6), pages 3097-3138, December.
    25. Emilio Espino & Julian Kozlowski & Fernando M. Martin & Juan M. Sanchez, 2020. "Domestic Policies and Sovereign Default," Working Papers 2020-017, Federal Reserve Bank of St. Louis, revised 06 Sep 2023.
    26. Canova, Fabio & Pappa, Evi, 2005. "The Elusive Costs and the Immaterial Gains of Fiscal Constraints," CEPR Discussion Papers 5406, C.E.P.R. Discussion Papers.
    27. Charles Brendon & Martin Ellison, 2018. "Time-Consistently Undominated Policies," Discussion Papers 1801, Centre for Macroeconomics (CFM).
    28. Dixon, Huw & Pourpourides, Panayiotis M., 2016. "On imperfect competition with occasionally binding cash-in-advance constraints," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 72-85.
    29. Dirk Niepelt & Martin Gonzalez-Eiras, 2008. "Economic and Politico-Economic Equivalence of Fiscal Policies," 2008 Meeting Papers 631, Society for Economic Dynamics.
    30. Stefano Gnocchi, 2013. "Monetary Commitment and Fiscal Discretion: The Optimal Policy Mix," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(2), pages 187-216, April.
    31. Giancarlo Corsetti & Luca Dedola, 2016. "The Mystery of the Printing Press: Monetary Policy and Self-Fulfilling Debt Crises," Journal of the European Economic Association, European Economic Association, vol. 14(6), pages 1329-1371.
    32. Stefan Niemann & Paul Pichler & Gerhard Sorger, 2008. "Optimal fiscal and monetary policy without commitment," Vienna Economics Papers vie0808, University of Vienna, Department of Economics.
    33. Ramon Marimon & Javier Díaz-Giménez & Giorgia Giovannetti & Pedro Teles, 2007. "Nominal Debt as a Burden on Monetary Policy," NBER Working Papers 13677, National Bureau of Economic Research, Inc.
    34. Canova, Fabio & Pappa, Evi, 2005. "Does it cost to be virtuous? The macroeconomic effects of fiscal constraints," LSE Research Online Documents on Economics 526, London School of Economics and Political Science, LSE Library.
    35. Joost Rцttger, 2014. "Monetary and Fiscal Policy with Sovereign Default," Working Paper Series in Economics 74, University of Cologne, Department of Economics.
    36. Laura Alfaro & Fabio Kanczuk, 2007. "Nominal versus Indexed Debt: A Quantitative Horse Race," NBER Working Papers 13131, National Bureau of Economic Research, Inc.
    37. Philippe Michel & Leopold Von Thadden & Jean‐Pierre Vidal, 2010. "Debt Stabilizing Fiscal Rules," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 12(5), pages 923-941, October.
    38. Russell Wong & Cathy Zhang & Guillaume Rocheteau, 2017. "Lending Relationships, Banking Crises and Optimal Monetary Policies," 2017 Meeting Papers 152, Society for Economic Dynamics.
    39. Ortigueira, Salvador & Pereira, Joana & Pichler, Paul, 2012. "Markov-perfect optimal fiscal policy : the case of unbalanced budgets," UC3M Working papers. Economics we1230, Universidad Carlos III de Madrid. Departamento de Economía.
    40. Fernando Martin, 2009. "A Positive Theory of Government Debt," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(4), pages 608-631, October.
    41. , & Gonzalez-Eiras, Martin, 2012. "Economic and Politico-Economic Equivalence," CEPR Discussion Papers 9203, C.E.P.R. Discussion Papers.
    42. Westerhout, Ed, 2021. "Inflation-Linked Bonds, Nominal Bonds, and Countercyclical Monetary Policies," Discussion Paper 2021-001, Tilburg University, Center for Economic Research.
    43. Niemann, S & Pichler, P & Sorger, G, 2009. "Inflation dynamics under optimal discretionary fiscal and monetary policies," Economics Discussion Papers 2898, University of Essex, Department of Economics.
    44. Klaus Adam, 2010. "Optimal Monetary and Fiscal Stabilisation Policies," OECD Economics Department Working Papers 765, OECD Publishing.
    45. Roettger, Joost, 2019. "Discretionary monetary and fiscal policy with endogenous sovereign risk," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 44-66.
    46. Rodolfo E. Manuelli & Juan I. Vizcaino, 2017. "Monetary Policy with Declining Deficits: Theory and an Application to Recent Argentine Monetary Policy," Review, Federal Reserve Bank of St. Louis, vol. 99(4), pages 351-375.
    47. Martin Gonzalez-Eiras & Dirk Niepelt, 2015. "Politico-Economic Equivalence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 18(4), pages 843-862, October.
    48. Niemann, Stefan & Pichler, Paul, 2011. "Optimal fiscal and monetary policies in the face of rare disasters," European Economic Review, Elsevier, vol. 55(1), pages 75-92, January.
    49. Roberto Billi & Klaus Adam, 2005. "Monetary and Fiscal Interactions without Commitment and the Value of Monetary Conservatism," Computing in Economics and Finance 2005 62, Society for Computational Economics.
    50. Corsetti, Giancarlo & Dedola, Luca, 2013. "The Mystery of the Printing Press: Self-fulfilling debt crises and monetary sovereignty," CEPR Discussion Papers 9358, C.E.P.R. Discussion Papers.
    51. Miller, David S., 2016. "Commitment versus discretion in a political economy model of fiscal and monetary policy interaction," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 17-29.

  22. Marimon, Ramon & Teles, Pedro & Nicolini, Juan Pablo, 2003. "Inside-Outside Money Competition," CEPR Discussion Papers 4039, C.E.P.R. Discussion Papers.

    Cited by:

    1. Grodecka-Messi, Anna & Zhang, Xin, 2023. "Private Bank Money vs Central Bank Money: A Historical Lesson for CBDC Introduction," Working Paper Series 424, Sveriges Riksbank (Central Bank of Sweden), revised 01 Jul 2023.
    2. Claudio Vitari, 2014. "Electronic currencies for purposive degrowth?," Working paper serie RMT - Grenoble Ecole de Management hal-00975432, HAL.
    3. Ramon Marimon & Juan Pablo Nicolini & Pedro Teles, "undated". "Money is an Experience Good: Competition and Trust in the Private Provision of Money," Working Papers 563, Barcelona School of Economics.
    4. David C. Mills, 2007. "Imperfect monitoring and the discounting of inside money," Finance and Economics Discussion Series 2007-58, Board of Governors of the Federal Reserve System (U.S.).
    5. Claudio Vitari, 2014. "Can virtual currencies drive sustainable de-growth?," Post-Print halshs-01924234, HAL.
    6. Benigno, Pierpaolo & Schilling, Linda & Uhlig, Harald, 2022. "Cryptocurrencies, Currency Competition, and The Impossible Trinity," CEPR Discussion Papers 13943, C.E.P.R. Discussion Papers.
    7. Pedro J. Gutiérrez-Diez & Tibor Pál, 2023. "Monetary policy models: lessons from the Eurozone crisis," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-19, December.
    8. Ramon Marimon & Javier Díaz-Giménez & Giorgia Giovannetti & Pedro Teles, 2007. "Nominal Debt as a Burden on Monetary Policy," NBER Working Papers 13677, National Bureau of Economic Research, Inc.
    9. Claudio Vitari, 2016. "Electronic Currencies: a literature review [Monnaies électroniques : a revue de la littérature]," Grenoble Ecole de Management (Post-Print) halshs-01924191, HAL.
    10. Almosova, Anna, 2018. "A Monetary Model of Blockchain," IRTG 1792 Discussion Papers 2018-008, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    11. Claudio Vitari, 2014. "Electronic currencies for purposive degrowth?," Working Papers hal-00975432, HAL.
    12. Claudio Vitari, 2016. "Electronic Currencies: a literature review [Monnaies électroniques : a revue de la littérature]," Post-Print halshs-01924191, HAL.
    13. Almosova, Anna, 2018. "A Monetary Model of Blockchain," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181502, Verein für Socialpolitik / German Economic Association.
    14. Almosova, Anna, 2018. "A Note on Cryptocurrencies and Currency Competition," IRTG 1792 Discussion Papers 2018-006, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    15. Claudio Vitari, 2014. "Can virtual currencies drive sustainable de-growth?," Grenoble Ecole de Management (Post-Print) halshs-01924234, HAL.

  23. Teles, Pedro & De Fiore, Fiorella, 2002. "The Optimal Mix of Taxes on Money, Consumption and Income," CEPR Discussion Papers 3437, C.E.P.R. Discussion Papers.

    Cited by:

    1. Alberto Petrucci, 2011. "Nonoptimality of the Friedman Rule with Capital Income Taxation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 163-183, February.
    2. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2002. "Optimal fiscal and monetary policy: equivalence results," Working Paper Series WP-02-16, Federal Reserve Bank of Chicago.
    3. Lippi, Francesco & Secchi, Alessandro, 2006. "Technological change and the demand for currency: An analysis with household data," CEPR Discussion Papers 6023, C.E.P.R. Discussion Papers.
    4. Alexandre Cunha, 2004. "The Friedman Rule in a Two Sector Small Open Economy," Econometric Society 2004 North American Summer Meetings 530, Econometric Society.
    5. Firouz Gahvari & Luca Micheletto, 2019. "Heterogeneity, monetary policy, Mirrleesian taxes, and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 983-1018, June.
    6. Miguel Casares, 2007. "The New Keynesian Model and the Euro Area Business Cycle," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 69(2), pages 209-244, April.
    7. Alexandre B. Cunha, 2006. "The Optimality Of The Friedman Rule When Some Distorting Taxes Are Exogenous," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 45, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    8. Bernardino Adão & Andre Silva, 2019. "Government Financing, Inflation, and the Financial Sector," 2019 Meeting Papers 350, Society for Economic Dynamics.
    9. Gahvari, Firouz & Micheletto, Luca, 2012. "Monetary policy and redistribution: What can or cannot be neutralized with Mirrleesian taxes," Working Paper Series, Center for Fiscal Studies 2012:5, Uppsala University, Department of Economics.
    10. Arbex, Marcelo & Turdaliev, Nurlan, 2011. "Optimal monetary and audit policy with imperfect taxation," Journal of Macroeconomics, Elsevier, vol. 33(2), pages 327-340, June.
    11. Klaeffling, Matt & López Pérez, Víctor, 2003. "Inflation targets and the liquidity trap," Working Paper Series 272, European Central Bank.
    12. Wen-ya Chang & Hsueh-fang Tsai & Juin-jen Chang & Kuo-Hao Lee, 2015. "Consumption tax, seigniorage tax and tax switch in a cash-in-advance economy of endogenous growth," Journal of Economics, Springer, vol. 114(1), pages 23-42, January.
    13. Lippi, Francesco & Secchi, Alessandro, 2009. "Technological change and the households' demand for currency," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 222-230, March.
    14. Angelo Marsiglia Fasolo, 2014. "The Ramsey Steady State under Optimal Monetary and Fiscal Policy for Small Open Economies," Working Papers Series 357, Central Bank of Brazil, Research Department.

  24. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2001. "Gaps and Triangles," CEPR Discussion Papers 2668, C.E.P.R. Discussion Papers.

    Cited by:

    1. George-Marios Angeletos & Luigi Iovino & Jennifer La'O, 2011. "Cycles, Gaps, and the Social Value of Information," NBER Working Papers 17229, National Bureau of Economic Research, Inc.
    2. Ester Faia & Tommaso Monacelli, 2008. "Optimal Monetary Policy in a Small Open Economy with Home Bias," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 721-750, June.
    3. Faia, Ester, 2006. "Optimal monetary policy rules with labor market frictions," Working Paper Series 698, European Central Bank.
    4. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    5. Paustian, Matthias & Stoltenberg, Christian, 2008. "Optimal interest rate stabilization in a basic sticky-price model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3166-3191, October.
    6. Andreas Schabert, 2010. "Optimal Central Bank Lending," Tinbergen Institute Discussion Papers 10-057/2, Tinbergen Institute.
    7. Pappa, Evi, 2004. "Do the ECB and the fed really need to cooperate? Optimal monetary policy in a two-country world," Journal of Monetary Economics, Elsevier, vol. 51(4), pages 753-779, May.
    8. Collard, Fabrice & Dellas, Harris, 2006. "The case for inflation stability," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 1801-1814, November.
    9. Giancarlo Corsetti, 2008. "A Modern Reconsideration of the Theory of Optimal Currency Areas," European Economy - Economic Papers 2008 - 2015 308, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    10. Marvin Goodfriend & Robert G. King, 2001. "The case for price stability," Working Paper 01-02, Federal Reserve Bank of Richmond.
    11. O. Loisel, 2015. "The Implementation of Stabilization Policy," Working papers 556, Banque de France.
    12. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
    13. Bernardino Adao & Isabel Correia, 2004. "Instruments of Monetary Policy," 2004 Meeting Papers 164, Society for Economic Dynamics.
    14. Adam, Klaus & Billi, Roberto M., 2006. "Monetary conservatism and fiscal policy," Working Paper Series 663, European Central Bank.
    15. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2002. "Optimal fiscal and monetary policy: equivalence results," Working Paper Series WP-02-16, Federal Reserve Bank of Chicago.
    16. Sylvain Leduc & Jean†Marc Natal, 2018. "Monetary and Macroprudential Policies in a Leveraged Economy," Economic Journal, Royal Economic Society, vol. 128(609), pages 797-826, March.
    17. Florin Bilbiie & Xavier Ragot, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Working Papers hal-03471839, HAL.
    18. Ester Faia & Tommaso Monacelli, 2003. "Ramsey monetary policy and international relative prices," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    19. Lewis, Vivien, 2012. "Optimal monetary policy and firm entry," IMFS Working Paper Series 50, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    20. Tommaso Monacelli, 2012. "Is Monetary Policy in an Open Economy Fundamentally Different?," Working Papers 449, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    21. George-Marios Angeletos & Jennifer La’O, 2020. "Optimal Monetary Policy with Informational Frictions," Journal of Political Economy, University of Chicago Press, vol. 128(3), pages 1027-1064.
    22. Evers, Michael P., 2007. "Optimum Policy Domains in an Interdependent World," Bonn Econ Discussion Papers 12/2007, University of Bonn, Bonn Graduate School of Economics (BGSE).
    23. Tommaso Monacelli, 2013. "Is Monetary Policy in an Open Economy Fundamentally Different?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(1), pages 6-21, April.
    24. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    25. Ester Faia, 2008. "Optimal Monetary Policy with Credit Augmented Liquidity Cycles," 2008 Meeting Papers 414, Society for Economic Dynamics.
    26. Ravenna, Federico & Walsh, Carl E., 2012. "Monetary policy and labor market frictions: A tax interpretation," Journal of Monetary Economics, Elsevier, vol. 59(2), pages 180-195.
    27. Michael Dotsey & Andreas Hornstein, 2011. "On the implementation of Markov-perfect monetary policy," Working Papers 11-29, Federal Reserve Bank of Philadelphia.
    28. Wang, Peng-fei & Wen, Yi, 2011. "Volatility, growth, and welfare," Journal of Economic Dynamics and Control, Elsevier, vol. 35(10), pages 1696-1709, October.
    29. Aubhik Khan & Robert G. King & Alexander L. Wolman, 2000. "Optimal monetary policy," Working Paper 00-10, Federal Reserve Bank of Richmond.
    30. Dixon, Huw & Pourpourides, Panayiotis M., 2016. "On imperfect competition with occasionally binding cash-in-advance constraints," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 72-85.
    31. Rhee, Hyuk Jae & Turdaliev, Nurlan, 2013. "Central bank transparency: Does it matter?," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 183-197.
    32. Bernardino Adão & Isabel Correia & Pedro Teles, 2004. "The Monetary Transmission Mechanism: Is It Relevant for Policy?," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 310-319, 04/05.
    33. Pedro Teles & Bernardino Adao & Isabel Correia, 2004. "Monetary Policy with State Contingent Interest Rates," 2004 Meeting Papers 813, Society for Economic Dynamics.
    34. Jean-Pascal Benassy, 2003. "Fiscal Policy and Optimal Monetary Rules in a non Ricardian Economy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(3), pages 498-512, July.
    35. Juan Pablo Nicolini & Constantino Hevia, 2004. "Optimal Devaluations," Econometric Society 2004 Latin American Meetings 337, Econometric Society.
    36. Faia, Ester, 2007. "Ramsey monetary policy with labour market frictions," Working Paper Series 707, European Central Bank.
    37. Faia, Ester, 2009. "Oligopolistic competition and optimal monetary policy," Kiel Working Papers 1552, Kiel Institute for the World Economy (IfW Kiel).
    38. De Paoli, Bianca, 2009. "Monetary policy and welfare in a small open economy," Journal of International Economics, Elsevier, vol. 77(1), pages 11-22, February.
    39. Sylvain Leduc & Jean-Marc Natal, 2011. "Should central banks lean against changes in asset prices?," Working Paper Series 2011-15, Federal Reserve Bank of San Francisco.
    40. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2005. "Monetary Policy with Single Instrument Feedback Rules," CEPR Discussion Papers 4948, C.E.P.R. Discussion Papers.
    41. Andreas Schabert, 2005. "Discretionary Policy, Multiple Equilibria, and Monetary Instruments," Tinbergen Institute Discussion Papers 05-098/2, Tinbergen Institute.
    42. Evers, Michael P., 2007. "Optimal Monetary Policy in an Interdependent World," Bonn Econ Discussion Papers 10/2007, University of Bonn, Bonn Graduate School of Economics (BGSE).
    43. Hyuk Rhee & Nurlan Turdaliev, 2015. "Central bank policy instrument forecasts," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 221-245, October.
    44. Dellas, Harris & Collard, Fabrice, 2003. "Poole in the New Keynesian Model," CEPR Discussion Papers 4083, C.E.P.R. Discussion Papers.
    45. Pengfei Wang & Yi Wen, 2007. "Incomplete information and self-fulfilling prophecies," Working Papers 2007-033, Federal Reserve Bank of St. Louis.
    46. Michael Dotsey & Andreas Hornstein, 2008. "On the implementation of Markov-perfect interest rate and money supply rules: global and local uniqueness," Working Papers 08-30, Federal Reserve Bank of Philadelphia.
    47. Evers, Michael P., 2013. "Strategic monetary policy in interdependent economies: Gains from coordination reconsidered," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 360-376.
    48. Lombardo, Giovanni & Ravenna, Federico, 2010. "Openness and optimal monetary policy," Working Paper Series 1279, European Central Bank.
    49. Ruy Lama & Juan Pablo Medina, 2004. "Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices," Working Papers Central Bank of Chile 286, Central Bank of Chile.
    50. Tommaso Monacelli, 2006. "Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints," NBER Working Papers 12470, National Bureau of Economic Research, Inc.
    51. 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.).
    52. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2008. "Monopoly Power and Endogenous Product Variety: Distortions and Remedies," NBER Working Papers 14383, National Bureau of Economic Research, Inc.
    53. Wolfgang Lechthaler & Christian Merkl & Ester Faia, 2009. "Labor Turnover Costs, Workers’ Heterogeneity and Optimal Monetary Policy," 2009 Meeting Papers 193, Society for Economic Dynamics.
    54. Federico Ravenna & Carl E. Walsh, 2009. "The welfare consequences of monetary policy," Working Paper Series 2009-12, Federal Reserve Bank of San Francisco.
    55. Roberto Billi & Klaus Adam, 2005. "Monetary and Fiscal Interactions without Commitment and the Value of Monetary Conservatism," Computing in Economics and Finance 2005 62, Society for Computational Economics.

  25. Bernardino Adao & Isabel Correia & Pedro Teles, 2000. "The Monetary Transmission Mechanism: Is it Relevant for Policy?," Econometric Society World Congress 2000 Contributed Papers 0967, Econometric Society.

    Cited by:

    1. Correia, Isabel & Teles, Pedro & Adão, Bernardino, 2001. "Gaps and Triangles," CEPR Discussion Papers 2668, C.E.P.R. Discussion Papers.
    2. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2002. "Optimal fiscal and monetary policy: equivalence results," Working Paper Series WP-02-16, Federal Reserve Bank of Chicago.
    3. Bernardino Adão & Isabel Correia & Pedro Teles, 2004. "The Monetary Transmission Mechanism: Is It Relevant for Policy?," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 310-319, 04/05.
    4. Elbourne, Adam & de Haan, Jakob, 2006. "Financial structure and monetary policy transmission in transition countries," Journal of Comparative Economics, Elsevier, vol. 34(1), pages 1-23, March.
    5. Carla Soares, 2008. "Impact on Welfare of Country Heterogeneity in a Currency Union," Working Papers w200814, Banco de Portugal, Economics and Research Department.
    6. Adão, Bernardino & Silva, André C., 2020. "The effect of firm cash holdings on monetary policy," European Economic Review, Elsevier, vol. 128(C).
    7. Alves, Nuno, 2008. "The mechanics of a monetary union with segmented financial markets," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 346-368, March.
    8. Carlo Altavilla & Luigi Landolfo, 2005. "Cross-country asymmetries in monetary policy transmission: evidence from EMU members," International Review of Applied Economics, Taylor & Francis Journals, vol. 19(1), pages 87-106.

  26. Marimon, R. & Nicolini, J.P. & Teles, P., 1999. "Competition and Reputation," Economics Working Papers eco99/18, European University Institute.

    Cited by:

    1. Marimon, Ramon & Nicolini, Juan Pablo & Teles, Pedro, 2003. "Inside-outside money competition," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1701-1718, November.
    2. Ramon Marimon, 2000. "Review of Sargent's The Conquest of American Inflation," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 405-411, June.

  27. Isabel Correia & Pedro Teles, 1997. "The optimal inflation tax," Discussion Paper / Institute for Empirical Macroeconomics 123, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Benjamin Lockwood, 2010. "How should Financial Intermediation Services be Taxed?," CESifo Working Paper Series 3226, CESifo.
    2. Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2004. "The Role of Money in Two Alternative Models: When is the Friedman Rule Optimal, and Why?," Staff General Research Papers Archive 11950, Iowa State University, Department of Economics.
    3. Narayana R. Kocherlakota, 2005. "Optimal monetary policy: what we know and what we don’t know," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 29(Oct), pages 10-19.
    4. Saif asif Khan & Sajawal Khan, 2011. "Optimal Taxation, Inflation and the Formal and Informal Sectors," SBP Working Paper Series 40, State Bank of Pakistan, Research Department.
    5. Camba-Méndez, Gonzalo & Garcí­a, Juan Angel & Rodriguez-Palenzuela, Diego, 2003. "Relevant economic issues concerning the optimal rate of inflation," Working Paper Series 278, European Central Bank.
    6. Bhattacharya, Joydeep & Haslag, Joseph H., 2001. "On the Use of the Inflation Tax when Non-Distortionary Taxes are Available," ISU General Staff Papers 200110010700001052, Iowa State University, Department of Economics.
    7. Fernando Alvarez & Patrick J. Kehoe & Pablo Andrés Neumeyer, 2002. "The time consistency of monetary and fiscal policies," Working Papers 616, Federal Reserve Bank of Minneapolis.
    8. Philip Arestis & Alexander Mihailov, 2008. "Classifying Monetary Economics: Fields and Methods from Past to Future," Economics Discussion Papers em-dp2008-64, Department of Economics, University of Reading.
    9. Alberto Petrucci, 2011. "Nonoptimality of the Friedman Rule with Capital Income Taxation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 163-183, February.
    10. Liviatan, Nissan & Frish, Roni, 2006. "Interest on reserves and inflation," Journal of Development Economics, Elsevier, vol. 80(1), pages 269-274, June.
    11. Gaowang Wang & Heng-fu Zou, 2011. "Inflation Aversion and the Optimal Inflation Tax," CEMA Working Papers 480, China Economics and Management Academy, Central University of Finance and Economics.
    12. Aoki, Yoshimasa & Tomoda, Yasunobu, 2009. "Optimal money supply in models with endogenous discount factor," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 798-810, August.
    13. Burkhard Heer, 2000. "Welfare Costs of Inflation in a Dynamic Economy with Search Unemployment and Endogenous Growth," Econometric Society World Congress 2000 Contributed Papers 0478, Econometric Society.
    14. Alexandre Cunha, 2004. "The Friedman Rule in a Two Sector Small Open Economy," Econometric Society 2004 North American Summer Meetings 530, Econometric Society.
    15. Firouz Gahvari & Luca Micheletto, 2019. "Heterogeneity, monetary policy, Mirrleesian taxes, and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 983-1018, June.
    16. Fiorella De Fiore & Pedro Teles, 2002. "The optimal mix of taxes on money, consumption and income," Working Paper Series WP-02-03, Federal Reserve Bank of Chicago.
    17. David M. Arseneau, 2004. "Optimal inflation in an open economy with imperfect competition," Finance and Economics Discussion Series 2004-25, Board of Governors of the Federal Reserve System (U.S.).
    18. Joydeep Bhattacharya & Joseph H. Haslag, 2000. "Reliance, composition, and inflation," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 20-28.
    19. Alexandre B. Cunha, 2006. "The Optimality Of The Friedman Rule When Some Distorting Taxes Are Exogenous," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 45, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    20. Bernardino Adão & Andre Silva, 2019. "Government Financing, Inflation, and the Financial Sector," 2019 Meeting Papers 350, Society for Economic Dynamics.
    21. Gahvari, Firouz & Micheletto, Luca, 2012. "Monetary policy and redistribution: What can or cannot be neutralized with Mirrleesian taxes," Working Paper Series, Center for Fiscal Studies 2012:5, Uppsala University, Department of Economics.
    22. Al-Jarhi, Mabid, 2016. "An economic theory of Islamic finance," MPRA Paper 72698, University Library of Munich, Germany.
    23. Arbex, Marcelo & Turdaliev, Nurlan, 2011. "Optimal monetary and audit policy with imperfect taxation," Journal of Macroeconomics, Elsevier, vol. 33(2), pages 327-340, June.
    24. Teles, Pedro & Uhlig, Harald, 2010. "Is Quantity Theory Still Alive?," CEPR Discussion Papers 8049, C.E.P.R. Discussion Papers.
    25. Pinar Yesin, 2004. "Tax Collection Costs, Tax Evasion and Optimal Interest Rates," Working Papers 04.02, Swiss National Bank, Study Center Gerzensee.
    26. Nissan Liviatan & Roni Frish, 2003. "Public Debt in a Long Term Discretionary Model," Bank of Israel Working Papers 2003.07, Bank of Israel.
    27. Al-Jarhi, Mabid, 2004. "The Philosophy of Islamic Banking and Finance," MPRA Paper 66739, University Library of Munich, Germany, revised 2007.
    28. Koreshkova, Tatyana A., 2006. "A quantitative analysis of inflation as a tax on the underground economy," Journal of Monetary Economics, Elsevier, vol. 53(4), pages 773-796, May.
    29. Cunha, Alexandre B., 2002. "Optimal Exchange Rate Policy, Optimal Incomplete Taxation and Business Cycles," Insper Working Papers wpe_16, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    30. Wang, Gaowang & Zou, Heng-fu, 2020. "Optimal fiscal and monetary policy in economies with capital," MPRA Paper 102753, University Library of Munich, Germany.
    31. Pinar Ayse Yesin, 2006. "Financing Government Expenditures Optimally," Working Papers 06.01, Swiss National Bank, Study Center Gerzensee.
    32. Nicolini, Juan Pablo, 1998. "Tax evasion and the optimal inflation tax," Journal of Development Economics, Elsevier, vol. 55(1), pages 215-232, February.
    33. Ingrid Groessl & Ulrich Fritsche, 2006. "The Store-of-Value-Function of Money as a Component of Household Risk Management," Macroeconomics and Finance Series 200606, University of Hamburg, Department of Socioeconomics.
    34. Pedro Teles, 2003. "The optimal price of money," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 27(Q II), pages 29-39.
    35. Nissan Liviatan & Roni Frish, 2005. "Interest on Reserves and Inflation," Bank of Israel Working Papers 2005.03, Bank of Israel.
    36. Ben Lockwood & Erez Yerushalmi, 2019. "How should payment services be taxed?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(1), pages 21-47, June.
    37. Gahvari, Firouz & Micheletto, Luca, 2012. "The Friedman rule in an overlapping-generations model with nonlinear taxation and income misreporting," Working Paper Series, Center for Fiscal Studies 2012:9, Uppsala University, Department of Economics, revised 05 Jun 2014.
    38. Stefania Albanesi, 2007. "Redistribution and Optimal Monetary Policy: Results and Open Questions," Rivista di Politica Economica, SIPI Spa, vol. 97(4), pages 3-48, July-Agou.
    39. Jordi Gali, 2002. "New Perspectives on Monetary Policy, Inflation, and the Business Cycle," NBER Working Papers 8767, National Bureau of Economic Research, Inc.
    40. Mabid Ali al-Jarhi, 2016. "The Nature of Money in Modern Economy – Implications and Consequences: Stephen Zarlenga and Robert Poteat طبيعة المال في الاقتصاد الحديث - الآثار والتبعات: ستيفن زارلينجا وروبرت بوتيت," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 29(2), pages 75-79, January.
    41. Bernardino Adão & André C. Silva, 2019. "Real transfers and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(1), pages 155-177, February.
    42. David M. Arseneau, 2004. "Optimal Inflation in an Open Economy," Econometric Society 2004 North American Summer Meetings 279, Econometric Society.
    43. Alexander L. Wolman, 1997. "Zero inflation and the Friedman rule: a welfare comparison," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 1-21.
    44. Ching-chong Lai & Chi-ting Chin, 2010. "(In)determinacy, increasing returns, and the optimality of the Friedman rule in an endogenously growing open economy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 44(1), pages 69-100, July.
    45. Roman Arjona, "undated". "Optimal Social Security Taxation in Spain," Studies on the Spanish Economy 80, FEDEA.

  28. Ramon Marimon & Juan Pablo Nicolini & Pedro Teles, 1997. "Electronic money: the end of inflation?," Discussion Paper / Institute for Empirical Macroeconomics 122, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Sheri M Markose, 2013. "Systemic risk analytics: A data-driven multi-agent financial network (MAFN) approach," Journal of Banking Regulation, Palgrave Macmillan, vol. 14(3-4), pages 285-305, July.
    2. Orazio Attanasio & Luigi Guiso & Tuillo Jappelli, 1998. "The Demand for Money, Financial Innovation, and the Welfare Cost of Inflation: An Analysis with Household Data," NBER Working Papers 6593, National Bureau of Economic Research, Inc.

  29. Correia, Isabel & Teles, Pedro, 1996. "Is the Friedman Rule Optimal When Money is an Intermediate Good?," CEPR Discussion Papers 1287, C.E.P.R. Discussion Papers.

    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Alberto Petrucci, 2015. "Deviating from the Friedman Rule: A Good Idea with Illegal Immigration?," Working Papers CELEG 1502, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    3. Bhattacharya, Joydeep & Haslag, Joseph & Martin, Antoine, 2005. "Sub-Optimality of the Friedman Rule in Townsend's Turnpike and Stochastic Relocation Models of Money: Do Finite Lives and Initial Dates Matter?," Staff General Research Papers Archive 12265, Iowa State University, Department of Economics.
    4. Chari, V.V. & Kehoe, Patrick J., 1999. "Optimal fiscal and monetary policy," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 26, pages 1671-1745, Elsevier.
    5. Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2004. "The Role of Money in Two Alternative Models: When is the Friedman Rule Optimal, and Why?," Staff General Research Papers Archive 11950, Iowa State University, Department of Economics.
    6. Bhattacharya, Joydeep & Haslag, Joseph & Martin, Antoine & Singh, Rajesh, 2004. "Who is Afraid of the Friedman Rule?," Staff General Research Papers Archive 12213, Iowa State University, Department of Economics.
    7. Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
    8. Philip Arestis & Alexander Mihailov, 2008. "Classifying Monetary Economics: Fields and Methods from Past to Future," Economics Discussion Papers em-dp2008-64, Department of Economics, University of Reading.
    9. Matt Klaeffling & Víctor López Pérez, 2003. "Inflation Targets and the Liquidity Trap," Working Papers wp2003_0309, CEMFI.
    10. Alberto Petrucci, 2011. "Nonoptimality of the Friedman Rule with Capital Income Taxation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 163-183, February.
    11. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.
    12. Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Anticipated Ramsey Reforms and the Uniform Taxation Principle: the Role of International Financial Markets," Departmental Working Papers 200210, Rutgers University, Department of Economics.
    13. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2002. "Optimal fiscal and monetary policy: equivalence results," Working Paper Series WP-02-16, Federal Reserve Bank of Chicago.
    14. Shaw, Ming-Fu & Chang, Juin-Jen & Lai, Ching-Chong, 2006. "(Non)optimality of the Friedman rule and optimal taxation in a growing economy with imperfect competition," Economics Letters, Elsevier, vol. 90(3), pages 412-420, March.
    15. Gaowang Wang & Heng-fu Zou, 2011. "Inflation Aversion and the Optimal Inflation Tax," CEMA Working Papers 480, China Economics and Management Academy, Central University of Finance and Economics.
    16. Soldatos, Gerasimos T. & Varelas, Erotokritos, 2014. "The Chicago Tradition and Commercial Bank Seigniorage," MPRA Paper 57721, University Library of Munich, Germany.
    17. Sofía Bauducco, 2011. "Seigniorage and Distortionary Taxation in a Model with Heterogeneous Agents and Idiosyncratic Uncertainty," Working Papers Central Bank of Chile 611, Central Bank of Chile.
    18. Ritter Moritz, 2010. "The Optimum Quantity of Money Revisited: Distortionary Taxation in a Search Model of Money," The B.E. Journal of Macroeconomics, De Gruyter, vol. 10(1), pages 1-26, June.
    19. Akyol, Ahmet, 2004. "Optimal monetary policy in an economy with incomplete markets and idiosyncratic risk," Journal of Monetary Economics, Elsevier, vol. 51(6), pages 1245-1269, September.
    20. Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2005. "Heterogeneity, Redistribution, And The Friedman Rule," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 437-454, May.
    21. Burkhard Heer, 2000. "Welfare Costs of Inflation in a Dynamic Economy with Search Unemployment and Endogenous Growth," Econometric Society World Congress 2000 Contributed Papers 0478, Econometric Society.
    22. Alexandre Cunha, 2004. "The Friedman Rule in a Two Sector Small Open Economy," Econometric Society 2004 North American Summer Meetings 530, Econometric Society.
    23. Peña, Guillermo, 2021. "A Monetary Policy Rule using Gravity Models," MPRA Paper 105967, University Library of Munich, Germany.
    24. Firouz Gahvari & Luca Micheletto, 2019. "Heterogeneity, monetary policy, Mirrleesian taxes, and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 983-1018, June.
    25. Fiorella De Fiore & Pedro Teles, 2002. "The optimal mix of taxes on money, consumption and income," Working Paper Series WP-02-03, Federal Reserve Bank of Chicago.
    26. varelas, erotokritos, 2013. "A Comment on Chicago Rule, Chicago School, and Commercial Bank Seigniorage," MPRA Paper 48770, University Library of Munich, Germany.
    27. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126.
    28. Guillermo A. Calvo & Carlos A. Vegh, 1999. "Inflation Stabilization and BOP Crises in Developing Countries," NBER Working Papers 6925, National Bureau of Economic Research, Inc.
    29. Martin, Antoine, 2004. "Optimal pricing of intraday liquidity," Journal of Monetary Economics, Elsevier, vol. 51(2), pages 401-424, March.
    30. Alexandre B. Cunha, 2006. "The Optimality Of The Friedman Rule When Some Distorting Taxes Are Exogenous," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 45, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    31. Bernardino Adão & Andre Silva, 2019. "Government Financing, Inflation, and the Financial Sector," 2019 Meeting Papers 350, Society for Economic Dynamics.
    32. Uhlig, H.F.H.V.S., 2000. "Should we be Afraid of Friedman's Rule?," Discussion Paper 2000-62, Tilburg University, Center for Economic Research.
    33. Gahvari, Firouz & Micheletto, Luca, 2012. "Monetary policy and redistribution: What can or cannot be neutralized with Mirrleesian taxes," Working Paper Series, Center for Fiscal Studies 2012:5, Uppsala University, Department of Economics.
    34. Song Han & Casey B. Mulligan, 2008. "Inflation and the size of government," Review, Federal Reserve Bank of St. Louis, vol. 90(May), pages 245-267.
    35. Benjamin Eden & Maya Eden, 2016. "The Welfare Cost Of Inflation And The Regulations Of Money Substitutes," Vanderbilt University Department of Economics Working Papers 16-00001, Vanderbilt University Department of Economics.
    36. Benjamin Eden, 2009. "The Role of Government in the Credit Market," Vanderbilt University Department of Economics Working Papers 0907, Vanderbilt University Department of Economics.
    37. Arbex, Marcelo & Turdaliev, Nurlan, 2011. "Optimal monetary and audit policy with imperfect taxation," Journal of Macroeconomics, Elsevier, vol. 33(2), pages 327-340, June.
    38. Klaeffling, Matt & López Pérez, Víctor, 2003. "Inflation targets and the liquidity trap," Working Paper Series 272, European Central Bank.
    39. Benjamin Eden, 2012. "Costly intermediation and the Friedman rule," Vanderbilt University Department of Economics Working Papers 12-00003, Vanderbilt University Department of Economics.
    40. Wai-Ming Ho & Jinli Zeng & Jie Zhang, 2007. "Inflation Taxation and Welfare with Externalities and Leisure," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(1), pages 105-131, February.
    41. Stephanie Schmitt-Grohe & Martin Uribe, 2001. "Optimal Fiscal and Monetary Policy Under Sticky Prices," Departmental Working Papers 200105, Rutgers University, Department of Economics.
    42. Andre C. Silva, 2014. "Rebalancing frequency and the welfare cost of inflation," Nova SBE Working Paper Series wp587, Universidade Nova de Lisboa, Nova School of Business and Economics.
    43. Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Optimal Fiscal and Monetary Policy Under Imperfect Competition," NBER Working Papers 10149, National Bureau of Economic Research, Inc.
    44. Joseph H. Haslag & Antoine Martin, 2005. "Optimality of the Friedman rule in an overlapping generations model with spatial separation," Staff Reports 225, Federal Reserve Bank of New York.
    45. Correia, Isabel H., 1999. "On the efficiency and equity trade-off," Journal of Monetary Economics, Elsevier, vol. 44(3), pages 581-603, December.
    46. Wang, Gaowang & Zou, Heng-fu, 2020. "Optimal fiscal and monetary policy in economies with capital," MPRA Paper 102753, University Library of Munich, Germany.
    47. Ho Wai-Ming, 2020. "Liquidity constraints, international trade, and optimal monetary policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-29, June.
    48. Miura, Shogo, 2023. "Optimal inflation rate and fair wage," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 158-167.
    49. Joe Haslag & Joydeep Bhattacharya & Steven Russell, 2003. "Understanding the Roles of Money, or When is the Friedman Rule Optimal, and Why?," Working Papers 0301, Department of Economics, University of Missouri.
    50. Boel, Paola & Camera, Gabriele, 2006. "Efficient monetary allocations and the illiquidity of bonds," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1693-1715, October.
    51. Rebelo, Sergio & Xie, Danyang, 1999. "On the optimality of interest rate smoothing," Journal of Monetary Economics, Elsevier, vol. 43(2), pages 263-282, April.
    52. Ben Lockwood & Erez Yerushalmi, 2019. "How should payment services be taxed?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(1), pages 21-47, June.
    53. Elena Sinelnikova-Muryleva, 2011. "Innovations in the sphere of payments and the money demand in Russia," Research Paper Series, Gaidar Institute for Economic Policy, issue 157P.
    54. Benjamin Eden, 2007. "The Friedman Rule in an Overlapping Generations Model: Social Security in Reverse," Vanderbilt University Department of Economics Working Papers 0717, Vanderbilt University Department of Economics.
    55. Gahvari, Firouz & Micheletto, Luca, 2012. "The Friedman rule in an overlapping-generations model with nonlinear taxation and income misreporting," Working Paper Series, Center for Fiscal Studies 2012:9, Uppsala University, Department of Economics, revised 05 Jun 2014.
    56. Isabel Correia & Pedro Teles, 1999. "The Optimal Inflation Tax," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 2(2), pages 325-346, April.
    57. Carlos E. da Costa & Iván Werning, 2008. "On the Optimality of the Friedman Rule with Heterogeneous Agents and Nonlinear Income Taxation," Journal of Political Economy, University of Chicago Press, vol. 116(1), pages 82-112, February.
    58. Joseph H. Haslag & Joydeep Bhattacharya & Antoine Martin, 2004. "Sub-Optimality of the Friedman Rule in Townsends Turnpike and Limited Communication Models of money: Do finite lives and initial dates matter?," Working Papers 0415, Department of Economics, University of Missouri, revised 21 Dec 2004.
    59. Ben Lockwood & Erez Yerushalmi, 2014. "Should transactions services be taxed at the same rate as consumption?," Working Papers 1423, Oxford University Centre for Business Taxation.
    60. Carlos Gustavo Machicado, 2006. "Welfare Gains from Optimal Policy in a Partially Dollarized Economy," Development Research Working Paper Series 10/2006, Institute for Advanced Development Studies.
    61. Takamatsu, Satoko, 2010. "Openness and interest rates: An analysis using the MIUF model and transaction cost model of money," International Review of Economics & Finance, Elsevier, vol. 19(2), pages 295-303, April.
    62. Stefano Bosi & Michel Guillard, 1999. "Growth and In‡ation in a Monetary “Selling-Cost” Model," Documents de recherche 99-11, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    63. Benjamin Eden, 2008. "Implementing the Friedman Rule by a Government Loan Program: An Overlapping Generations Model," Vanderbilt University Department of Economics Working Papers 0804, Vanderbilt University Department of Economics.
    64. Eduardo Olaberría, 2011. "The Optimal Inflation Tax in the Presence of Imperfect Deposit – Currency Substitution," Working Papers Central Bank of Chile 619, Central Bank of Chile.

  30. Ramon Marimon & Juan Pablo Nicolini & Pedro Teles, "undated". "Money is an Experience Good: Competition and Trust in the Private Provision of Money," Working Papers 563, Barcelona School of Economics.

    Cited by:

    1. Pierpaolo Benigno, 2023. "Monetary Policy in a World of Cryptocurrencies," Journal of the European Economic Association, European Economic Association, vol. 21(4), pages 1363-1396.
    2. Matteo Maggiori & Emmanuel Farhi, 2015. "A Model of the International Monetary System," Working Paper 349586, Harvard University OpenScholar.
    3. Parthajit Kayal & Purnima Rohilla, 2021. "Bitcoin in the economics and finance literature: a survey," SN Business & Economics, Springer, vol. 1(7), pages 1-21, July.
    4. Franz Seitz & Markus A. Schmidt, 2014. "Money In Modern Macro Models: A Review of the Arguments," Journal of Reviews on Global Economics, Lifescience Global, vol. 3, pages 156-174.
    5. Marco Airaudo & María Pía Olivero, 2019. "Optimal Monetary Policy with Countercyclical Credit Spreads," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(4), pages 787-829, June.
    6. Meegan, Andrew & Corbet, Shaen & Larkin, Charles & Lucey, Brian, 2021. "Does cryptocurrency pricing response to regulatory intervention depend on underlying blockchain architecture?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    7. Dwyer, Gerald P, 2014. "The Economics of Private Digital Currency," MPRA Paper 55824, University Library of Munich, Germany.
    8. Almosova, Anna, 2018. "A Monetary Model of Blockchain," IRTG 1792 Discussion Papers 2018-008, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    9. Dwyer, Gerald P., 2015. "The economics of Bitcoin and similar private digital currencies," Journal of Financial Stability, Elsevier, vol. 17(C), pages 81-91.
    10. Waknis, Parag, 2017. "Competitive Supply of Money in a New Monetarist Model," MPRA Paper 75401, University Library of Munich, Germany.
    11. Almosova, Anna, 2018. "A Monetary Model of Blockchain," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181502, Verein für Socialpolitik / German Economic Association.
    12. Almosova, Anna, 2018. "A Note on Cryptocurrencies and Currency Competition," IRTG 1792 Discussion Papers 2018-006, Humboldt University of Berlin, International Research Training Group 1792 "High Dimensional Nonstationary Time Series".
    13. APATACHIOAE, Adina, 2014. "Free Banking – Possible Solution To The Recent Crisis?," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 1(1), pages 66-72.

Articles

  1. V. V. Chari & Juan Pablo Nicolini & Pedro Teles, 2023. "Optimal Cooperative Taxation in the Global Economy," Journal of Political Economy, University of Chicago Press, vol. 131(1), pages 95-130.
    See citations under working paper version above.
  2. João Valle e Azevedo & João Ritto & Pedro Teles, 2022. "The Neutrality Of Nominal Rates: How Long Is The Long Run?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(4), pages 1745-1777, November.
    See citations under working paper version above.
  3. Joao Guerreiro & Sergio Rebelo & Pedro Teles, 2022. "Should Robots Be Taxed?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(1), pages 279-311.
    See citations under working paper version above.
  4. Chari, V.V. & Nicolini, Juan Pablo & Teles, Pedro, 2020. "Optimal capital taxation revisited," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 147-165.
    See citations under working paper version above.
  5. Guerreiro, Joao & Rebelo, Sergio & Teles, Pedro, 2020. "What is the optimal immigration policy? Migration, jobs, and welfare," Journal of Monetary Economics, Elsevier, vol. 113(C), pages 61-87.
    See citations under working paper version above.
  6. Ayres, João & Navarro, Gaston & Nicolini, Juan Pablo & Teles, Pedro, 2018. "Sovereign default: The role of expectations," Journal of Economic Theory, Elsevier, vol. 175(C), pages 803-812.
    See citations under working paper version above.
  7. Pedro Teles & Harald Uhlig & João Valle e Azevedo, 2016. "Is Quantity Theory Still Alive?," Economic Journal, Royal Economic Society, vol. 126(591), pages 442-464, March.
    See citations under working paper version above.
  8. Adão, Bernardino & Correia, Isabel & Teles, Pedro, 2014. "Short and long interest rate targets," Journal of Monetary Economics, Elsevier, vol. 66(C), pages 95-107.
    See citations under working paper version above.
  9. Isabel Correia & Emmanuel Farhi & Juan Pablo Nicolini & Pedro Teles, 2013. "Unconventional Fiscal Policy at the Zero Bound," American Economic Review, American Economic Association, vol. 103(4), pages 1172-1211, June.
    See citations under working paper version above.
  10. Marimon, Ramon & Nicolini, Juan Pablo & Teles, Pedro, 2012. "Money is an experience good: Competition and trust in the private provision of money," Journal of Monetary Economics, Elsevier, vol. 59(8), pages 815-825.
    See citations under working paper version above.
  11. Fiorella De Fiore & Pedro Teles & Oreste Tristani, 2011. "Monetary Policy and the Financing of Firms," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(4), pages 112-142, October.
    See citations under working paper version above.
  12. Bernardino Adao & Isabel Correia & Pedro Teles, 2011. "Unique Monetary Equilibria with Interest Rate Rules," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(3), pages 432-442, July.

    Cited by:

    1. Jean Barthélemy & Eric Mengus, 2017. "Credibility and Monetary Policy," Working Papers hal-03457527, HAL.
    2. John H. Cochrane, 2011. "Determinacy and Identification with Taylor Rules," Journal of Political Economy, University of Chicago Press, vol. 119(3), pages 565-615.
    3. Tom D. Holden, 2023. "Existence and Uniqueness of Solutions to Dynamic Models with Occasionally Binding Constraints," The Review of Economics and Statistics, MIT Press, vol. 105(6), pages 1481-1499, November.
    4. Bernardino Adão & Pedro Teles, 2010. "Short and Long Interest Rate Targets," Working Papers w201015, Banco de Portugal, Economics and Research Department.
    5. Hall, Robert, 2016. "Achieving Price Stability by Manipulating the Central Bank's Payment on Reserves," CEPR Discussion Papers 11578, C.E.P.R. Discussion Papers.
    6. Blake, Andrew P., 2012. "Equally shocking news," Economics Letters, Elsevier, vol. 117(3), pages 866-869.
    7. Jeffrey R. Campbell & Jacob P. Weber, 2018. "Discretion Rather than Rules: Equilibrium Uniqueness and Forward Guidance with Inconsistent Optimal Plans," Working Paper Series WP-2018-14, Federal Reserve Bank of Chicago.
    8. Sofia Bauducco & Rodrigo Caputo, 2020. "Wicksellian Rules and the Taylor Principle: Some Practical Implications," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(1), pages 340-368, January.
    9. Emmanuel Farhi & Isabel Correia & Juan Pablo Nicolini & Pedro Teles, "undated". "Unconventional Fiscal Policy at the Zero Bound," Working Paper 20945, Harvard University OpenScholar.
    10. Correia, Isabel & Teles, Pedro & Tristani, Oreste & De Fiore, Fiorella, 2014. "Credit Spreads and Credit Policies," CEPR Discussion Papers 9989, C.E.P.R. Discussion Papers.
    11. Holden, Tom D., 2024. "Robust Real Rate Rules," EconStor Preprints 279481, ZBW - Leibniz Information Centre for Economics, revised 2024.
    12. Jean Barthélemy & Eric Mengus, 2018. "Monetary Rules, Determinacy and Limited Enforcement," Working papers 700, Banque de France.
    13. Dixon, Huw & Pourpourides, Panayiotis M., 2016. "On imperfect competition with occasionally binding cash-in-advance constraints," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 72-85.
    14. Narayana R. Kocherlakota, 2020. "21st Century Macro," NBER Working Papers 26791, National Bureau of Economic Research, Inc.
    15. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
    16. Adão, Bernardino & Silva, André C., 2020. "The effect of firm cash holdings on monetary policy," European Economic Review, Elsevier, vol. 128(C).
    17. 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.
    18. Huberto M. Ennis, 2015. "Discussion on \"Scarcity of Safe Assets, Inflation, and the Policy Trap\" by Andolfatto and Williamson," Working Paper 15-3, Federal Reserve Bank of Richmond.
    19. Kimbrough, Kent P., 2012. "Unique monetary equilibria with interest rate rules: An extension," Economics Letters, Elsevier, vol. 114(3), pages 332-334.

  13. Bernardino Adao & Isabel Correia & Pedro Teles, 2010. "Wage and Price Rigidity in a Monetary Union," Open Economies Review, Springer, vol. 21(1), pages 109-126, February.

    Cited by:

    1. Hyuk Jae Rhee & Jeongseok Song, 2017. "Real Wage Flexibility, Economic Fluctuations, and Exchange Rate Regimes," Open Economies Review, Springer, vol. 28(4), pages 633-659, September.

  14. Adao, Bernardino & Correia, Isabel & Teles, Pedro, 2009. "On the relevance of exchange rate regimes for stabilization policy," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1468-1488, July.
    See citations under working paper version above.
  15. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2008. "Optimal Fiscal and Monetary Policy: Equivalence Results," Journal of Political Economy, University of Chicago Press, vol. 116(1), pages 141-170, February.
    See citations under working paper version above.
  16. Javier Diaz-Gimenez & Giorgia Giovannetti & Ramon Marimon & Pedro Teles, 2008. "Nominal Debt as a Burden on Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(3), pages 493-514, July.
    See citations under working paper version above.
  17. Pedro Teles & Ruilin Zhou, 2005. "A stable money demand: Looking for the right monetary aggregate," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 29(Q I), pages 50-63.

    Cited by:

    1. Carlos Esteban Posada & Camilo Morales J., 2007. "La inflación y la política monetaria colombianas del período 1996-2006: una interpretación," Borradores de Economia 465, Banco de la Republica de Colombia.
    2. Mierzejewski, Fernando, 2007. "The Money Demand with Random Output and Limited Access to Debt," MPRA Paper 6688, University Library of Munich, Germany.
    3. Rod Tyers, 2013. "International Effects of China's Rise and Transition: Neoclassical and Keynesian Perspectives," CAMA Working Papers 2013-44, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. Söderström, Ulf & Billi, Roberto & Walsh, Carl, 2020. "The Role of Money in Monetary Policy at the Lower Bound," CEPR Discussion Papers 14865, C.E.P.R. Discussion Papers.
    5. Andre C. Silva, 2011. "Individual and aggregate money demands," Nova SBE Working Paper Series wp557, Universidade Nova de Lisboa, Nova School of Business and Economics.
    6. Mierzejewski, Fernando, 2007. "An actuarial approach to short-run monetary equilibrium," MPRA Paper 2424, University Library of Munich, Germany.
    7. Luca Benati & Robert E. Lucas & Juan Pablo Nicolini & Warren E. Weber, 2017. "International Evidence on Long-Run Money Demand," Working Papers 737, Federal Reserve Bank of Minneapolis.
    8. Columba, Francesco, 2009. "Narrow money and transaction technology: new disaggregated evidence," MPRA Paper 12689, University Library of Munich, Germany.
    9. Lippi, Francesco & Secchi, Alessandro, 2006. "Technological change and the demand for currency: An analysis with household data," CEPR Discussion Papers 6023, C.E.P.R. Discussion Papers.
    10. Boel, Paola, 2018. "The redistributive effects of inflation and the shape of money demand," Journal of Economic Dynamics and Control, Elsevier, vol. 90(C), pages 208-219.
    11. Rod Tyers & Yixiao Zhou, 2018. "Lost Inflation?," Economics Discussion / Working Papers 18-01, The University of Western Australia, Department of Economics.
    12. Cysne, Rubens Penha, 2011. "The n-dimensional bailey-divisia measure as a general-equilibrium measure of the welfare costs of inflation," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 720, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    13. Mierzejewski, Fernando, 2008. "The optimal liquidity principle with restricted borrowing," MPRA Paper 12549, University Library of Munich, Germany.
    14. Cao, Shutao & Meh, Césaire A. & Ríos-Rull, José-Víctor & Terajima, Yaz, 2021. "The welfare cost of inflation revisited: The role of financial innovation and household heterogeneity," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 366-380.
    15. J.W.B. Bos & I. Chan & J. Kolari & J. Yuan, 2009. "A Fallacy of Division: The Failure of Market Concentration as a Measure of Competition in U.S. Banking," Working Papers 09-33, Utrecht School of Economics.
    16. Bernardino Adão & Andre Silva, 2019. "Government Financing, Inflation, and the Financial Sector," 2019 Meeting Papers 350, Society for Economic Dynamics.
    17. Aleksander Berentsen & Samuel Huber & Alessandro Marchesiani, 2014. "Financial innovations, money demand, and the welfare cost of inflation," ECON - Working Papers 136, Department of Economics - University of Zurich.
    18. Fernando Alvarez & Francesco Lippi, 2014. "Persistent Liquidity Effects and Long-Run Money Demand," American Economic Journal: Macroeconomics, American Economic Association, vol. 6(2), pages 71-107, April.
    19. Juan Pablo Nicolini, 2019. "Karl Brunner's Contributions to the Theory of the Money Supply," Staff Report 582, Federal Reserve Bank of Minneapolis.
    20. Teles, Pedro & Uhlig, Harald, 2010. "Is Quantity Theory Still Alive?," CEPR Discussion Papers 8049, C.E.P.R. Discussion Papers.
    21. Ivo J. M. Arnold & Sebastian Roelands, 2011. "Housing Wealth And U.S. Money Demand: A Panel Estimation," Contemporary Economic Policy, Western Economic Association International, vol. 29(3), pages 382-391, July.
    22. Cysne, Rubens Penha & Turchick, David, 2010. "Welfare costs of inflation when interest-bearing deposits are disregarded: a calculation of the bias," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 700, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    23. Kairong Xiao, 2018. "Monetary Transmission through Shadow Banks," 2018 Meeting Papers 616, Society for Economic Dynamics.
    24. Huberto M. Ennis, 2005. "Avoiding the inflation tax," Working Paper 05-10, Federal Reserve Bank of Richmond.
    25. Kairong Xiao & Francesca Cornelli, 2020. "Monetary Transmission through Shadow Banks," The Review of Financial Studies, Society for Financial Studies, vol. 33(6), pages 2379-2420.
    26. Inagaki, Kazuyuki, 2009. "Estimating the interest rate semi-elasticity of the demand for money in low interest rate environments," Economic Modelling, Elsevier, vol. 26(1), pages 147-154, January.
    27. Karsten Schweikert, 2020. "Oracle Efficient Estimation of Structural Breaks in Cointegrating Regressions," Papers 2001.07949, arXiv.org, revised Apr 2021.
    28. Karsten Schweikert, 2022. "Oracle Efficient Estimation of Structural Breaks in Cointegrating Regressions," Journal of Time Series Analysis, Wiley Blackwell, vol. 43(1), pages 83-104, January.
    29. David Beckworth & Kenneth P. Moon & J. Holland Toles, 2012. "Can Monetary Policy Influence Long-Term Interest Rates? It Depends," Economic Inquiry, Western Economic Association International, vol. 50(4), pages 1080-1096, October.
    30. Sophia Lazaretou, 2009. "Money supply and Greek history monetary statistics: definition, construction, sources and data," Working Papers 105, Bank of Greece.
    31. Mattia Girotti, 2021. "How monetary policy changes bank liability structure and funding cost," Oxford Economic Papers, Oxford University Press, vol. 73(1), pages 49-75.
    32. Juan Pablo Nicolini, 2017. "Money demand: A simple look at some data," Aussenwirtschaft, University of St. Gallen, School of Economics and Political Science, Swiss Institute for International Economics and Applied Economics Research, vol. 68(01), pages 29-49, December.
    33. Moritz Lenel & Monika Piazzesi & Martin Schneider, 2019. "The Short Rate Disconnect in a Monetary Economy," NBER Working Papers 26102, National Bureau of Economic Research, Inc.
    34. Mierzejewski, Fernando, 2006. "Liquidity preference as rational behaviour under uncertainty," MPRA Paper 2771, University Library of Munich, Germany.
    35. Chen, Zhengyang & Valcarcel, Victor J., 2024. "A granular investigation on the stability of money demand," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue FirstView, pages 1-26.
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    42. Heon Lee, 2021. "Money Creation and Banking: Theory and Evidence," Papers 2109.15096, arXiv.org, revised Jun 2024.
    43. Christian Pierdzioch & Jan-Christoph Rülke & Georg Stadtmann, 2011. "Survey Forecasts and Money Demand Functions: Some International Evidence," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 57(1), pages 5-14.

  18. Bernardino Adão & Isabel Correia & Pedro Teles, 2004. "The Monetary Transmission Mechanism: Is It Relevant for Policy?," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 310-319, 04/05.
    See citations under working paper version above.
  19. Bernardino Adão & Isabel Correia & Pedro Teles, 2003. "Gaps and Triangles," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 70(4), pages 699-713.
    See citations under working paper version above.
  20. De Fiore, Fiorella & Teles, Pedro, 2003. "The optimal mix of taxes on money, consumption and income," Journal of Monetary Economics, Elsevier, vol. 50(4), pages 871-887, May.
    See citations under working paper version above.
  21. Marimon, Ramon & Nicolini, Juan Pablo & Teles, Pedro, 2003. "Inside-outside money competition," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1701-1718, November.
    See citations under working paper version above.
  22. Pedro Teles, 2003. "The optimal price of money," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 27(Q II), pages 29-39.

    Cited by:

    1. Kim, Jinill & Ruge-Murcia, Francisco J., 2011. "Monetary policy when wages are downwardly rigid: Friedman meets Tobin," Journal of Economic Dynamics and Control, Elsevier, vol. 35(12), pages 2064-2077.
    2. Kim, Jinill & Ruge-Murcia, Francisco J., 2007. "How Much Inflation is Necessary to Grease the Wheels?," Cahiers de recherche 2007-10, Universite de Montreal, Departement de sciences economiques.
    3. Persson, Mats & Persson, Torsten & Svenssor, Lars E. O., 2005. "Time Consistency of Fiscal and Monetary Policy: A Solution," Papers 09-03-2005, Princeton University, Research Program in Political Economy.

  23. Isabel Correia & Pedro Teles, 1999. "The Optimal Inflation Tax," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 2(2), pages 325-346, April.
    See citations under working paper version above.
  24. Correia, Isabel & Teles, Pedro, 1996. "Is the Friedman rule optimal when money is an intermediate good?," Journal of Monetary Economics, Elsevier, vol. 38(2), pages 223-244, October.
    See citations under working paper version above.
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