NBER Working Papers by Julio J. Rotemberg

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Working Papers

December 2016Populism and the Return of the “Paranoid Style”: Some Evidence and a Simple Model of Demand for Incompetence as Insurance against Elite Betrayal
with Rafael Di Tella: w22975
September 2014The Federal Reserve's Abandonment of its 1923 Principles
December 2012Prominent Job Advertisements, Group Learning and Wage Dispersion
November 2011Charitable Giving When Altruism and Similarity are Linked

Published: Rotemberg, Julio J., 2014. "Charitable giving when altruism and similarity are linked," Journal of Public Economics, Elsevier, vol. 114(C), pages 36-49. citation courtesy of

December 2010A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
May 2010Persuasion and empathy in salesperson-customer interactions
January 2010Quality Provision, Expected Firm Altruism and Brand Extensions

Published: Rotemberg, Julio J. "Expected Firm Altruism, Quality Provision, and Brand Extensions." Marketing Science 32, no. 2 (March–April 2013): 325–341.

April 2009Altruistic Dynamic Pricing with Customer Regret

Published: Julio J. Rotemberg, 2010. "Altruistic Dynamic Pricing with Customer Regret," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(4), pages 646-672, December. citation courtesy of

September 2008Attitude-Dependent Altruism, Turnout and Voting

Published: Julio Rotemberg, 2009. "Attitude-dependent altruism, turnout and voting," Public Choice, Springer, vol. 140(1), pages 223-244, July. citation courtesy of

August 2008Liquidity Needs in Economies with Interconnected Financial Obligations

Published: Rotemberg, Julio J. "Minimal Settlement Assets in Economies with Interconnected Financial Obligations." Journal of Money, Credit & Banking 43, no. 1 (February 2011): 81–108.

January 2008Minimally Altruistic Wages and Unemployment in a Matching Model

Published: Rotemberg, Julio J., 2008. "Minimally altruistic wages and unemployment in a matching model with monopsony," Journal of Monetary Economics, Elsevier, vol. 55(Supplemen), pages S97-S110, October.

Behavioral Aspects of Price Setting, and Their Policy Implications

Published: Rotemberg, Julio J. "Behavioral Aspects of Price Setting, and Their Policy Implications." In Policymaking Insights from Behavioral Economics, edited by Christopher L. Foote, Lorenz Goette, and Stephan Meier. Boston, MA: Federal Reserve Bank of Boston, 2009.

August 2006Cyclical Wages in a Search-and-Bargaining Model with Large Firms


November 2004Fair Pricing

Published: Julio J. Rotemberg, 2011. "Fair Pricing," Journal of the European Economic Association, European Economic Association, vol. 9(5), pages 952-981, October. citation courtesy of

November 2002Customer Anger at Price Increases, Time Variation in the Frequency of Price Changes and Monetary Policy

Published: Rotemberg, Julio J. "Customer Anger At Price Increases In The Frequency Of Price Adjustment And Monetary Policy," Journal of Monetary Economics, 2005, v52(4,May), 829-852.

May 2002Stochastic Technical Progress, Nearly Smooth Trends and Distinct Business Cycles

Published: Rotemberg, Julio J. "Stochastic Technical Progress, Smooth Trends, And Nearly Distinct Business Cycles," American Economic Review, 2003, v93(5,Dec), 1543-1559.

October 2000Commercial Policy with Altruistic Voters

Published: Rotemberg, Julio J. "Commercial Policy With Altruistic Voters," Journal of Political Economy, 2003, v111(1,Feb), 174-201. citation courtesy of

December 1999A Heuristic Method for Extracting Smooth Trends from Economic Time Series
January 1999The Cyclical Behavior of Prices and Costs
with Michael Woodford: w6909

Published: Handbook of Macroeconomics, Vol.1B, Taylor, J.B., and M. Woodford, eds., Amsterdam: North-Holland, 1999.

June 1998Interest-Rate Rules in an Estimated Sticky Price Model
with Michael Woodford: w6618


May 1998An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy: Expanded Version
with Michael Woodford: t0233
March 1998Cyclical Movements in Wages and Consumption in a Bargaining Model of Unemployment
June 1996Perceptions of Equity and the Distribution of Income

Published: Rotemberg, Julio J. "Perceptions Of Equity And The Distribution Of Income," Journal of Labor Economics, 2002, v20(2,Apr), Part 1, 249-288. citation courtesy of

Imperfect Competition and the Effects of Energy Price Increases on Economic Activity
with Michael Woodford: w5634

Published: Journal of Money, Credit, and Banking, Vol. 28, no. 4, part 1, (November 1996), pp. 549-577 citation courtesy of

December 1994Prices, Output and Hours: An Empirical Analysis Based on a Sticky Price Model

Published: Journal of Monetary Economics, Vol. 37, no. 3 (June 1996): 505-533. citation courtesy of

February 1994Is the Business Cycles a Necessary Consequence of Stochastic Growth?
with Michael Woodford: w4650

Published: "Real Business Cycle Models and the Forecastable Movements in Outputs, Hours, and Consumption," American Economic Review, Vol. 86 (1996): 17-89.

December 1993Energy Taxes and Aggregate Economic Activity
with Michael Woodford: w4576

Published: Energy Taxes and Aggregate Economic Activity, Julio I. Rotemberg, Michael Woodford. in Tax Policy and the Economy, Volume 8, Poterba. 1994

October 1993Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets
with Michael Woodford: w4502

Published: Frontiers of Business Cycle Research, Cooley, T., ed., Princeton: Princeton University Press, 1995.

August 1991Money, Output and Prices: Evidence from A New Monetary Aggregate
with John C. Driscoll, James M. Poterba: w3824

Published: Journal of Business and Economic Statistics, 13 (January 1995), pp. 67-83. citation courtesy of

December 1990Cyclical Markups: Theories and Evidence
with Michael Woodford: w3534

Published: Blanchard, O.J. and S. Fischer (eds.) NBER Macroeconomics Annual 1991. Cambridge: MIT Press, 1991.

August 1990Target Zones with Limited Reserves
with Paul Krugman: w3418
April 1990Do Stock Prices Move Together Too Much?
with Robert S. Pindyck: w3324

Published: "The Co-movement of Stock Prices,[ Quarterly Journal of Economics, Nov. 1993]"

January 1990Competition and Human Capital Accumulation: A Theory of Interregional Specialization and Trade
with Garth Saloner: w3228

Published: Rotemberg, Julio J. and Garth Saloner. "Competition And Human Capital Accumulation: A Theory Of Interregional Specialization And Trade," Regional Science and Urban Economics, 2000, v30(4,Jul), 373-404. citation courtesy of

December 1989Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
with Michael Woodford: w3206

Published: Journal of Political Economy, 100: 1153-1207 (1992) citation courtesy of

November 1988Sovereign Debt Buybacks Can Lower Bargaining Costs

Published: Journal of International Money and Finance, Vol. 10, no. 3 (1991): 330-348. citation courtesy of

July 1988The Excess Co-Movement of Commodity Prices
with Robert S. Pindyck: w2671

Published: The Economic Journal, Dec. 1990 citation courtesy of

May 1988Labor Hoarding, Inflexible Prices, and Procyclical Productivity
with Lawrence H. Summers: w2591

Published: Published as "Inflexible Prices and Procyclical Productivity", Quarterly Journal of Economics", Vol. 105, no. 4 (1990): 851-874.

April 1988Inflation And Taxation With Optimizing Governments
with James M. Poterba: w2567

Published: Poterba, James M. and Julio J. Rotemberg, "Inflation And Taxation With Optimizing Governments." Journal of Money, Credit, and Banking, Vol. 22, No. 1, pp. 1-18, (February 1990). citation courtesy of

June 1986The Relative Rigidity of Monopoly Pricing
with Garth Saloner: w1943

Published: American Economic Review, Vol. 77, No. 5, December 1987, pp. 917-926. citation courtesy of

Quotas and the Stability of Implicit Collusion
with Garth Saloner: w1948

Published: "Tariffs Vs. Quotas with Implicit Collusion," Canadian Journal of Economics , Vol. 22, No. 2, pp. 237-244, May 1989.

1986Money in the Utility Function: An Empirical Implementation
with James M. Poterba: w1796


  • Poterba, James M. and Julio J. Rotemberg."Money in the Utility Function: An Empirical Implementation," New Approaches to Monetary Economics, eds. W. Barnett and K. Singleton, Cambridge University Press, 1987. pp219-240
  • New Approaches to Monetary Economics, edited by William A. Barnett and Kenneth J. Singelton, pp. 219-240 New York: Cambridge University Press, 1987.

June 1985A Tax-Based Test for Nominal Rigidities
with James M. Poterba, Lawrence H. Summers: w1627

Published: Poterba, James M., Julio J. Rotemberg and Lawrence H. Summers."A Tax-Based Test for Nominal Rigidities," American Economic Review, Vol. 76, No. 4, (September 1986), pp. 659-675. citation courtesy of

Are Imports to Blame?: Attribution of Injury Under the 1974 Trade Act
with Robert S. Pindyck: w1640

Published: Pindyck, Robert S. and Julio J. Rotemberg. "Are Imports to Blame?: Attribution of Injury Under the 1974 Trade Act," Journal of Law and Economics, April 1987. citation courtesy of

August 1984A Supergame-Theoretic Model of Business Cycles and Price Wars During Booms
with Garth Saloner: w1412

Published: Rotemberg and Saloner, American Economic Review, Vol. 76, June 1986, pp. 38 0-407

February 1984Exchange Rate Dynamics with Sticky Prices: The Deutsch Mark, 1974-1982
with Alberto Giovannini: w1281

Published: Journal of Business and Economic Statistics, Vol. 7, No. 2, pp. 169-178,(April 1989). citation courtesy of

November 1982Dynamic Factor Demands Under Rational Expectations
with Robert S. Pindyck: w1015

Published: Pindyck, Robert S. and Julio J. Rotemberg. "Dynamic Factor Demands Under Rational Expectations." The Scandinavian Journal of Economics, July 1983. citation courtesy of

October 1982Money and the Terms of Trade

Published: Rotemberg, J., Journal of International Economics, Vol. 19, 1985, pp. 141-1 60. citation courtesy of

September 1982A Monetary Equilibrium Model with Transactions Costs

Published: Rotemberg, Julio J. "A Monetary Equilibrium Model with Transactions Costs." Journal of Political Economy, Vol. 92, No. 1, (February 1984), pp. 40-58 . citation courtesy of

June 1982Intertemporal Substitution in Macroeconomics
with N. Gregory Mankiw, Lawrence H. Summers: w0898

Published: Mankiw, N. Gregory, Julio J. Rotemberg and Lawrence H. Summers. "Intertemporal Substitution in Macroeconomics." Quarterly Journal of Economics, Vol. 100, (Feb. 1985, pp. 225-251. citation courtesy of

November 1979International Adjustment with Wage Rigidity
with William H. Branson: w0406


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