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Constant Interest Rate Projections without the Curse of Indeterminacy: A Note
International Journal of Economic Theory, 2009 vol. 5, 61-68

 

On the Sources of the Great Moderation (with L. Gambetti)

American Economic Journal: Macroeconomics, 2009 vol. 1 nº1, 26-57

 

Optimal Monetary and Fiscal Policy in a Currency Union (with T. Monacelli)
Journal of International Economics, 2008 vol. 76, 116-132

 

Learning, Macroeconomics Dynamics and the Term Structure of Interest Rates: A Comment, by Dewachter and Lyrio, in J. Campbell (ed.) Asset Prices and Monetary Policy, University of Chicago Press, 2008, 238-244

 

Money and Monetary Policy: the ECB Experience 1999-2006: A Comment, by Fisher, Lenza  Pill and Reichlin, in A. Beyer and L. Reichlin (eds.) The Role of Money: Money and Monetary Policy in the 21st Century, Proceedings of the 4th ECB Central Bank Conference, European Central Bank, Frankfurt, 2008, 182-189

 

Macroeconomic Modeling for Monetary Policy Evaluation (with M. Gertler),
Journal of Economic Perspectives, 2007 vol. 21 (4), 25-45

 

Understanding the Effects of Government Spending on Consumption (with J. David López-Salido and J. Vallés), Journal of the European Economic Association, March 2007, vol. 5 (1), 227-270

 

Real Wage Rigidities and the New Keynesian Model (with O. Blanchard)
Journal of Money, Credit, and Banking, supplement to vol. 39, nº1, 2007, 35-66

 

Markups, Gaps, and the Welfare Costs of Economic Fluctuations (with M. Gertler and J. D. López-Salido), Review of Economics and Statistics, February 2007, vol. 89 (1), 44-59

 

New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modeling (with I. Angeloni, L. Aucremanne, M. Ehrmann, A. Levin, F. Smets), Journal of the European Economic Association(Papers and Proceedings), vol. 4 (2-3), 562-574, April-May 2006

 

Fluctuating Macro Policies and the Fiscal Theory of the Price Level: Comment,  by Davig and Leeper, NBER Macroeconomics Annual 2006, MIT Press, Cambridge MA, 299-305

 

Modern Perspectives on Fiscal Stabilization Policies, CESifo Economic Studies, Vol. 51, 4/2005, 587-599

 

Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve,with Mark Gertler and J. David López-Salido, Journal of Monetary Economics 52 (2005) 1107-118.

 

Trends in Hours, Balanced Growth, and the Role of Technology in the Business Cycle, Federal Reserve Bank of St. Louis Review, July/August 2005, 87(4), pp. 459-86.

 

Monetary Policy and Exchange Rate Volatility in a Small Open Economy (with T. Monacelli) in Review of Economic Studies (2005) 72, 707-734. "This is an electronic version of an article published in the Review of Economic Studies : complete citation information for the final version of the paper, as published in the print edition of the Review of Economic Studies, is available on the Blackwell Synergy online delivery service, accessible via the journal’s website at http://www.blackwell-synergy.com."

 

Technology Shocks and Aggregate Fluctuations: How Well Does the RBC Model Fit Postwar U.S. Data?, (with Pau Rabanal) in NBER Macroeconomics Annual, 2004

 

On the Role of Technology Shock as a Source of Business Cycles: Some New Evidence, Journal of the European Economic Association, vol. 2, issue 2-3 (Papers and Proceedings), 372-380, 2004.

 

Rule of Thumb Consumers and the Design of Interest Rate Rules, (with J.D. López-Salido and Javier Vallés), Journal of Money, Credit, and Banking, vol. 36, no. 4, 2004, 739-764.

 

Fiscal Policy and Monetary Integration in Europe, (with Roberto Perotti), Economic Policy, vol. 37, 2003, pp. 533-572

 

Technology Shocks and Monetary Policy: Assessing the Fed's Performance, (with D. López Salido and J. Vallés) Journal of Monetary Economics, vol 50, 723-743, 2003

 

New Perspectives on Monetary Policy, Inflation, and the Business Cycle, in Advances in Economic Theory, edited by: M. Dewatripont, L. Hansen, and S. Turnovsky, vol. III, 151-197, Cambridge University Press 2003.

 

Monetary Policy in the Early Years of EMU in EMU and Economic Policy in Europe: the Challenges of the Early Years, edited by M. Buti and A. Sapir, Edward Elgar, 2003.

 

A Simple Framework for International Monetary Policy Analysis (with R. Clarida and M. Gertler) Journal of Monetary Economics, vol. 49, nº 5, 879-904, 2002

 

The Conduct of Monetary Policy in the Face of Technological Change: Theory and Postwar U.S. Evidence, in Stabilization and Monetary Policy: the International Experience, Banco de México, México D.F., 2002.

 

Targeting Inflation in an Economy with Staggered Price Setting, edited by Norman Loayza and Raimundo Soto, Central Bank of Chile, Santiago, Chile, 2002

 

Una Nueva Curva de Phillips para España (with J.D. López-Salido), Moneda y Crédito, vol. 212, 265-304, 2001 (an english version can be found as "A New Phillips Curve for Spain", BIS Papers 3: Empirical studies of structural changes and inflation, Bank for International Settlements, Basel, 2001)

 

Optimal Monetary Policy in Open vs. Closed Economies: An Integrated Approach (with R. Clarida and M. Gertler) American Economic Review, vol. 91, nº 2, 248-252, 2001

 

European Inflation Dynamics(with M. Gertler and D. López-Salido) European Economic Review, vol. 45, nº 7, 1237-1270, 2001. (Erratum, September 2002)

 

Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory (with R. Clarida and M. Gertler) Quarterly Journal of Economics, vol. CXV, issue 1, 147-180, 2000

 

The Return of the Phillips Curve and Other Recent Developments in Business Cycle Theory, Spanish Economic Review, vol. 2, nº1, 1-10, 2000

 

The Science of Monetary Policy: A New Keynesian Perspective (with R. Clarida and M. Gertler) Journal of Economic Literature, vol. 37, nº 4, 1661-1707, 1999

 

Inflation Dynamics: A Structural Econometric Analysis (with M. Gertler) Journal of Monetary Economics, vol. 44, nº 2, 195-222, 1999

 

To Each According To...? markets, Tournaments, and the Matching Problem with Borrowing Constraints (R. Fernández), Review of Economic Studies, vol.66, nº229, 1999, 799-824

 

International Factors in the Recessions of the Early Nineties (with D. Backus) in Sato, Ramachandran and Mino eds., Global Integration and Competition, Kluwer Academic Publishers, 1999

 

Technology, Employment, and the Business Cycle: Do Technology Schocks Explain Aggregate Fluctuations? American Economic Review, 249, 271, March 1999 (Appendix to "Technology, Employment, and the Business Cycle: Do Technology Schocks Explain Aggregate Fluctuations?

 

Monetary Policy Rules in Practice: Some International Evidence (with R. Clarida and M. Gertler) European Economic Review, 42, 1033-1067, 1998

 

Unemployment in Dynamic General Equilibrium Economies European Economic Review, vol. 40, 839-845, 1996

 

Multiple Equilibria in a Growth Model with Monopolistic Competition, Economic Theory, vol. 8, 1996, 251-266

 

Fluctuaciones y Persistencia del Empleo en España, in R. Marimon (coord.), La Economía Española: una Visión Diferente, Antoni Bosch editor, 1996, 119-138

 

Product Diversity, Endogenous Markups, and Developments Traps, Journal of Monetary Economics, vol. 36, nº1, 1995, 39-64

 

On growth and Indeterminacy: some Theory and Evidence (with Jess Benhabib) Carnegie-Rochester Conference Series on Public Policy, 43, 163-211, 1995

 

Expectations-Driven Spatial Fluctuations, Regional Science and Urban Economics, vol. 25, 1995, 1-19

 

Endogenous Growth and Poverty Traps in a Cournotian Model, (with F. Zilibotti), Annales d'Economie et de Statistique, vol. 37/38, 1995, 197-214

 

Sources of Real Exchange Rate Fluctuations: How Important are Nominal Shocks ?, (with R. Clarida), Carnegie Rochester Conference Series on Public Policy, vol. 41, 1994, 1-56

 

Local Externalities, Convex Adjustment Costs, and Sunspot Equilibria, Journal of Economic Theory, vol. 64, nº1, 1994, 242-252

 

Monopolistic Competition, Endogenous Markups and Growth, European Economic Review (Papers and Proceedings), vol. 38, 1994, 748-756

 

Monopolistic Competition, Business Cycles, and the Composition of Aggregate Demand, Journal of Economic Theory, vol. 63, nº1, 1994, 73-96

 

Government Size and Macroeconomic Stability, European Economic Review, vol.38, 1994, 117-132

 

Keeping up with the Joneses: Consumption Externalities, Portfolio Choice and Asset Prices, Journal of Money, Credit, and Banking, vol. 26 nº1, 1994, 1-8

 

Variability of Durable and Nondurable Consumption: Evidence for Six OECD Countries, Review of Economics and Statistics, vol. 75, 1993, 418-428

 

How Well Does the IS-LM Model Fit Postwar U.S. Data?.
The Quarterly Journal of Economics, vol. 107, nº 2, 709-738, 1992. Appendix

 

Budget Constraints and Time Series Evidence on Consumption, American Economic Review, vol. 81, nº5, 1991, 1238-1253

 

Finite Horizons, Life Cycle Savings, and Time Series Evidence on Consumption, Journal of Monetary Economics, vol. 26, 1990, 433-452