"Why Money Growth Determines Inflation in the Long Run: Answering the Woodford Critique" - May 2008
Federal Reserve Bank of St. Louis Working Paper 2008-013A
Abstract | Full Text (PDF 104K)
"Friedman and Taylor on Monetary Policy Rules: A Comparison"
Federal Reserve Bank of St. Louis Review, March/April 2008, 90(2), pp. 95-116.
"The Impact of Milton Friedman on Modern Monetary Economics: Setting the Record Straight on Paul Krugman's 'Who Was Milton Friedman?'" - October 2007, Revised January 2008
with Anna J. Schwartz
Federal Reserve Bank of St. Louis Working Paper 2007-048D
Abstract | Full Text (PDF 254K)
"An Overhaul of Doctrine: The Underpinning of U.K. Inflation Targeting" - July 2007, Revised October 2007
Federal Reserve Bank of St. Louis Working Paper 2007-026C
Abstract | Full Text (PDF 300K)
"Comment on Samuel Reynard, 'Maintaining Low Inflation: Money, Interest Rates, and Policy Stance'"
Journal of Monetary Economics, July 2007, 54(5), pp. 1472-79.
"An Estimated DSGE Model for the United Kingdom"
with Riccardo DiCecio
Federal Reserve Bank of St. Louis Review, July/August 2007, 89(4), pp. 215-31.
"Book Review: Ian Macfarlane, The Search for Stability," June 2007.
"Ireland and Switzerland: The Jagged Edges of the Great Inflation"
FORTHCOMING: European Economic Review
Abstract | Full Text (PDF 873K)
Revised and shortened version, June 2007 (PDF 415K)
Presentation slides for paper, May 2006 (PDF 1.8M)
"Milton Friedman and U.S. Monetary History: 1961-2006" (PDF 417K)
Federal Reserve Bank of St. Louis Review, May/June 2007, 89(3), pp. 153-82.
"Who Was Milton Friedman? A Response," New York Review of Books, March 29, 2007
with Anna J. Schwartz
"Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area" - February 2007, Revised April 2008
with Javier Andrés and J. David López-Salido
Federal Reserve Bank of St. Louis Working Paper 2007-005C
Abstract | Full Text (PDF 774K)
"The Great Inflation and Early Disinflation in Japan and Germany"
International Journal of Central Banking, December 2007, 3(4), pp. 23-76.
Abstract | Full Text (PDF 541K)
Previous Version (March 2007)
"U.K. Inflation Targeting and the Exchange Rate"
with Christopher Allsopp and Amit Kara
The Economic Journal, June 2006, 116(512), pp. F232-44.
Abstract | Full Text (PDF 238K)
"Monetary and Fiscal Theories of the Price Level: The Irreconcilable Differences"
with Bennett T. McCallum
Oxford Review of Economic Policy, Winter 2005, 21(4), pp. 565-83.
Working Paper version (February 2006): Abstract | Full Text
(PDF 470K)
"Inflation Dynamics, Marginal Cost, and the Output Gap: Evidence from Three Countries"
with Katharine S. Neiss
Journal of Money, Credit, and Banking, December 2005, 37(6), pp. 1019-45.
"Targeting versus Instrument Rules for Monetary Policy"
with Bennett T. McCallum
Federal Reserve Bank of St. Louis Review, September/October 2005, 87(5), pp. 597-611.
"Commentary on Lars E.O. Svensson 'Targeting versus Instrument Rules for Monetary Policy: What is Wrong with McCallum and Nelson?'"
with Bennett T. McCallum
Federal Reserve Bank of St. Louis Review, September/October 2005, 87(5), pp. 627-31.
"Sticky-Price Models and the Natural Rate Hypothesis"
with Javier Andrés and David López-Salido
Journal of Monetary Economics, July 2005, 52(5), pp. 1025-53.
Working Paper version (March 2005): Abstract | Full Text
(PDF 504K)
"The Great Inflation of the Seventies: What Really Happened?"
Revised version, July 2005: Advances in Macroeconomics, 5(1), Article 3.
Previous version (January 2004) Abstract | Full Text (PDF
594K)
Slides for presentation of this paper at NBER Summer Institute, July 12, 2004
"Monetary Policy Neglect and the Great Inflation in Canada, Australia, and New Zealand"
International Journal of Central Banking, June 2005, 1(1), pp. 133-79.
Working Paper version (April 2004): Abstract | Full Text (PDF 494K)
All Papers
