"The Optimal Inflation Target in an Economy with Limited Enforcement" - September 2007, Revised November 2007
with Gaetano Antinolfi and Costas Azariadis
Federal Reserve Bank of St. Louis Working Paper 2007-037B
Abstract | Full Text (PDF 338K)
"Learning and the Great Moderation" - June 2007
with Aarti Singh
Federal Reserve Bank of St. Louis Working Paper 2007-027A
Abstract | Full Text (PDF 374K)
"A Leisurely Reading of the Life Cycle Consumption Data"
with James Feigenbaum
Journal of Monetary Economics, November 2007, 54(8), pp. 2305-20.
Abstract | Full Text (PDF 510K)
"A Model of Near-Rational Exuberance" - March 2007, Revised January 2008
with George W. Evans and Seppo Honkapohja
Federal Reserve Bank of St. Louis Working Paper 2007-009B
Abstract | Full Text (PDF 439K)
"Monetary Policy, Judgment and Near-Rational Exuberance"
with George W. Evans and Seppo Honkapohja
FORTHCOMING: American Economic Review
Abstract | Full Text (PDF 468K)
"Social Learning and Monetary Policy Rules" - March 2007
with Jasmina Arifovic and Olena Kostyshyna
Federal Reserve Bank of St. Louis Working Paper 2007-007A
Abstract | Full Text (PDF 333K)
"Worldwide Macroeconomic Stability and Monetary Policy Rules" - June 2006, Revised June 2007
with Aarti Singh
Federal Reserve Bank of St. Louis Working Paper 2006-040B
Abstract | Full Text (PDF 520K)
"Monetary Policy, Determinacy, and Learnability in a Two-Block World Economy" - May 2006
with Eric Schaling
Federal Reserve Bank of St. Louis Working Paper 2006-038A
Abstract | Full Text (PDF 472K)
"Learning and Structural Change in Macroeconomic Data" - August 2004
with J. Duffy
Federal Reserve Bank of St. Louis Working Paper 2004-016A
Abstract | Full Text (PDF 396K)
"Determinacy, Learnability, and Monetary Policy Inertia"
with Kaushik Mitra
Journal of Money, Credit, and Banking, August 2007, 39(5), pp. 1177-212.
Download Mathematica programs: Lagmsv.pdf, Forwardmsv.pdf, Lagestability.pdf, and Forwardestability.pdf.
All Papers
"Comments on Melecki, Palenzuela, and Soderstrom, 'Monetary Policy Credibility and the Macroeconomy'"
"A Tale of Two Crises"
with Geetanjali Pande
Federal Reserve Bank of St. Louis MT, November 2007.
"Comments on Orphanides and Williams' 'Robust Monetary Policy'"
Journal of Monetary Economics, July 2007, 54(5), pp. 1436-40.
"Energy Prices: In the Mix or Swept Under the Rug?"
with Geetanjali Pande
Federal Reserve Bank of St. Louis NET, April 2007.
"Commentary on Svensson and Williams, 'Optimal Policy Under Model Uncertainty'"
All Commentary
