NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Michael Woodford

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

Working Papers

February 2014An Optimizing Neuroeconomic Model of Discrete Choice
w19897
December 2013Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints
with Aloísio Araújo, Susan Schommer: w19711

Forthcoming: Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints, Aloísio Araújo, Susan Schommer, Michael Woodford. in Lessons from the Financial Crisis for Monetary Policy, Gertler. 2014

August 2013Macroeconomic Analysis without the Rational Expectations Hypothesis
w19368

Published: Michael Woodford, 2013. "Macroeconomic Analysis Without the Rational Expectations Hypothesis," Annual Review of Economics, Annual Reviews, vol. 5(1), pages 303-346, 05. citation courtesy of

April 2012Inflation Targeting and Financial Stability
w17967
July 2010The Central-Bank Balance Sheet as an Instrument of Monetary Policy
with Vasco Curdia: w16208

Published: Cúrdia, Vasco & Woodford, Michael, 2011. "The central-bank balance sheet as an instrument of monetarypolicy," Journal of Monetary Economics, Elsevier, vol. 58(1), pages 54-79, January. citation courtesy of

June 2010Optimal Monetary Stabilization Policy
w16095

Published: “Optimal Monetary Stabilization Policy,” in B.M. Friedman and M. Woodford, eds., Handbook of Monetary Economics, vol. 3B, Amsterdam: Elsevier, 2011.

February 2010Optimal Target Criteria for Stabilization Policy
with Marc P. Giannoni: w15757
January 2010Simple Analytics of the Government Expenditure Multiplier
w15714

Published: Michael Woodford, 2011. "Simple Analytics of the Government Expenditure Multiplier," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(1), pages 1-35, January. citation courtesy of

August 2009Credit Spreads and Monetary Policy
with Vasco Cúrdia: w15289

Published: Vasco Curdia & Michael Woodford, 2010. "Credit Spreads and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 3-35, 09. citation courtesy of

December 2008Information-Constrained State-Dependent Pricing
w14620

Published: Information-constrained state-dependent pricing Michael Woodford Year of Publication: 2009 Authors: Woodford, Michael Published in: Journal of monetary economics.- Amsterdam : Elsevier, ISSN 0304-3932, ZDB-ID 1911557. - Vol. 56.2009, 1/d15/m10, p. 100-124

December 2007Forecast Targeting as a Monetary Policy Strategy: Policy Rules in Practice
w13716

Published: Michael Woodford, 2007. "The Case for Forecast Targeting as a Monetary Policy Strategy," Journal of Economic Perspectives, American Economic Association, vol. 21(4), pages 3-24, Fall.

August 2007How Important is Money in the Conduct of Monetary Policy?
w13325

Published: Michael Woodford, 2008. "How Important Is Money in the Conduct of Monetary Policy?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(8), pages 1561-1598, December. citation courtesy of

Globalization and Monetary Control
w13329

Published: Globalization and Monetary Control, Michael Woodford. in International Dimensions of Monetary Policy , Gali and Gertler. 2009

November 2006Linear-Quadratic Approximation of Optimal Policy Problems
with Pierpaolo Benigno: w12672

Published: Journal of Economic Theory, Volume 147, Issue 1, January 2012, Pages 1-42 citation courtesy of

April 2006Optimal Inflation Targeting under Alternative Fiscal Regimes
with Pierpaolo Benigno: w12158

Published: Schmidt-Hebbel, K. and F. Mishkin (eds.) Monetary Policy Under Inflation Targeting. Chile: Central Bank of Chile, 2007.

December 2005Robustly Optimal Monetary Policy with Near Rational Expectations
w11896

Published:

  • Woodford, Michael. “An Example of Robustly Optimal Monetary Policy with Near-Rational Expectations.” Journal of the European Economics Association 4, 2-3 (2006): 386-395.
  • Michael Woodford, 2010. "Robustly Optimal Monetary Policy with Near-Rational Expectations," American Economic Review, American Economic Association, vol. 100(1), pages 274-303, March. citation courtesy of

Central Bank Communication and Policy Effectiveness
w11898

Published: Michael Woodford, 2005. "Central bank communication and policy effectiveness," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 399-474. citation courtesy of

February 2005Firm-Specific Capital and the New-Keynesian Phillips Curve
w11149

Published: Michael Woodford, 2005. "Firm-Specific Capital and the New Keynesian Phillips Curve," International Journal of Central Banking, International Journal of Central Banking, vol. 1(2), September. citation courtesy of

January 2005Optimal Taxation in an RBC Model: A Linear-Quadratic Approach
with Pierpaolo Benigno: w11029

Published: Benigno, Pierpaolo & Woodford, Michael, 2006. "Optimal taxation in an RBC model: A linear-quadratic approach," Journal of Economic Dynamics and Control, Elsevier, vol. 30(9-10), pages 1445-1489. citation courtesy of

October 2004Inflation Stabilization and Welfare: The Case of a Distorted Steady State
with Pierpaolo Benigno: w10838

Published: Pierpaolo Benigno & Michael Woodford, 2005. "Inflation Stabilization And Welfare: The Case Of A Distorted Steady State," Journal of the European Economic Association, MIT Press, vol. 3(6), pages 1185-1236, December. citation courtesy of

Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State
with Pierpaolo Benigno: w10839

Published: Pierpaolo Benigno & Michael Woodford, 2005. "Optimal stabilization policy when wages and prices are sticky: the case of a distorted steady state," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 127-180. citation courtesy of

Optimal Monetary and Fiscal Policy in a Liquidity Trap
with Gauti B. Eggertsson: w10840

Published:

September 2003Optimal Monetary Policy in a Liquidity Trap
with Gauti B. Eggertsson: w9968

Published: Eggertsson, Gauti B. and Michael Woodford. "The Zero Bound On Interest Rates And Optimal Monetary Policy," Brookings Papers on Economic Activity 34, 2003-1 (2003): 139-235.

Optimal Inflation Targeting Rules
with Marc P. Giannoni: w9939

Published: Optimal Inflation-Targeting Rules , Marc Giannoni, Michael Woodford. in The Inflation-Targeting Debate, Bernanke and Woodford. 2005

August 2003Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach
with Pierpaolo Benigno: w9905

Published:

June 2003Implementing Optimal Policy through Inflation-Forecast Targeting
with Lars E. O. Svensson: w9747

Published: Implementing Optimal Policy through Inflation-Forecast Targeting, Lars E.O. Svensson, Michael Woodford. in The Inflation-Targeting Debate, Bernanke and Woodford. 2005

January 2003Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux
with Lars E. O. Svensson: w9430
Optimal Interest-Rate Rules: I. General Theory
with Marc P. Giannoni: w9419
Optimal Interest-Rate Rules: II. Applications
with Marc P. Giannoni: w9420
December 2001Imperfect Common Knowledge and the Effects of Monetary Policy
w8673

Published: Aghion, P., R. Frydman, J. Stiglitz, and M. Woodford (eds.) Knowledge, Information and Expectations in Modern Macroeconomics. Princeton: Princeton University Press, 2002.

Monetary Policy in the Information Economy
w8674

Published: Michael Woodford, 2001. "Monetary policy in the information economy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 297-370. citation courtesy of

April 2001Indicator Variables for Optimal Policy under Asymmetric Information
with Lars E.O. Svensson: w8255

Published:

  • Svensson, Lars E. O. and Michael Woodford. "Indicator Variables For Optimal Policy," Journal of Monetary Economics, 2003, v50(3,Apr), 691-720.
  • Svensson, Lars E. O. and Michael Woodford. "Indicator Variables for Optimal Policy under Asymmetric Information," Journal of Economic Dynamics and Control, 28(4): 661-690, January 2004 citation courtesy of

January 2001Inflation Stabilization and Welfare
w8071

Published: Contributions to Macroeconomics (B.E. Journal of Macroeconomics), Vol. 2: Iss. 1, Article 1, (2002) p. 1009 citation courtesy of

Fiscal Requirements for Price Stability
w8072

Published: Woodford, Michael. "Fiscal Requirements For Price Stability," Journal of Money, Credit and Banking, 2001, v33(3,Aug), 669-728. citation courtesy of

October 2000Indicator Variables for Optimal Policy
with Lars E.O. Svensson: w7953

Published:

August 2000Monetary Policy in a World Without Money
w7853

Published: Woodford, Michael. "Monetary Policy In A World Without Money," International Finance, 2000, v3(2), 229-260. citation courtesy of

July 1999Optimal Monetary Policy Inertia
w7261

Published:

January 1999The Cyclical Behavior of Prices and Costs
with Julio J. Rotemberg: 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 Julio J. Rotemberg: w6618

Published:

May 1998An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy: Expanded Version
with Julio J. Rotemberg: t0233
September 1997Inflation Forecasts and Monetary Policy
with Ben S. Bernanke: w6157

Published:

Doing Without Money: Controlling Inflation in a Post-Monetary World
w6188

Published: Review of Economic Dynamics, Vol. 1 (1998): 173-219. citation courtesy of

July 1996Loan Commitments and Optimal Monetary Policy
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Published: Journal of Monetary Economics, Vol. 37, no. 3 (June 1996): 573-605 citation courtesy of

Control of the Public Debt: A Requirement for Price Stability?
w5684

Published:

  • The Debt Burden and Monetary Policy, Calvo, G. and M. King, eds., London: MacMillan, 1997.
  • Woodford, Michael. "Fiscal Requirements For Price Stability," Journal of Money, Credit and Banking, 2001, v33(3,Aug), 669-728.

June 1996Imperfect Competition and the Effects of Energy Price Increases on Economic Activity
with Julio J. Rotemberg: w5634

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

August 1995Price Level Determinacy Without Control of a Monetary Aggregate
w5204

Published: Carnegie-Rochester Conference Series on Public Policy, Vol. 43, (December 1995): pp. 1-46. citation courtesy of

February 1994Is the Business Cycles a Necessary Consequence of Stochastic Growth?
with Julio J. Rotemberg: 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 Julio J. Rotemberg: 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 Julio J. Rotemberg: w4502

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

January 1993Real Effects of Monetary Shocks in an Economy with Sequential Purchases
with Robert E. Lucas, Jr.: w4250
December 1992Aggregate Fluctuations from Independent Sectoral Shocks: Self-Organized Criticality in a Model of Production and Inventory Dynamics
with Peter Bak, Kan Chen, Jose Scheinkman: w4241

Published: Ricerche Economiche 47: 3-30 (1993) citation courtesy of

December 1990Cyclical Markups: Theories and Evidence
with Julio J. Rotemberg: w3534

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

September 1990Does Competition Between Currencies Lead to Price Level and Exchange Rate Stability?
w3441

Published: A. Giovannini and C. Mayer, eds., European Financial Integration, Cambridge Cambridge University Press, 1991

May 1990Equilibrium Models of Endogenous Fluctuations: an Introduction
w3360

Published: A. Vercelli and N. Dimitri, eds., Macroeconomics: A Survey of Research Strategies, New York, Oxford University Press, 1992

Self-Fulfilling Expectations and Fluctuations in Aggregate Demand
w3361

Published: N.G. Mankiw and D. Romer, eds., New Keynesian Economics, Vol. 2, pp.77-110, Cambridge: MIT Press, 1991.

December 1989Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity
with Julio J. Rotemberg: w3206

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

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

 
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