Project group C02: Discussion papers
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The International Monetary Transmission Mechanism
608/2024, C02, Santiago Camara, Lawrence Christiano, Husnu Dalgic
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The Optimal Inflation Target
572/2024, C02, Klaus Adam, Henning Weber
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Active or Passive? Revisiting the Role of Fiscal Policy During High Inflation
565/2024, C02, Stephanie Ettmeier, Alexander Kriwoluzky
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Asset Price Changes, External Wealth and Global Welfare
534/2024, C02, Timothy Meyer
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Unemployment Risk, Portfolio Choice, and the Racial Wealth Gap
508/2024, A03, C02, Ellora Derenoncourt, Chi Hyun Kim, Moritz Kuhn, Moritz Schularick
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Changes in the Distribution of Black and White Wealth Since the US Civil War
507/2024, A03, C02, Ellora Derenoncourt, Chi Hyun Kim, Moritz Kuhn, Moritz Schularick. Published in Journal of Economic Perspectives 37 (2023), 71-90
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No Taxation without Reallocation: The Distributional Effects of Tax Changes
436/2023, C02, Stephanie Ettmeier
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Evaluating the Financial Instability Hypothesis: A Positive and Normative Analysis of Leveraged Risk-Taking and Extrapolative Expectations
431/2023, C02, Antoine Camous, Alejandro Van der Ghote. First version: May 2023
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Inflation Distorts Relative Prices: Theory and Evidence
406/2023, C02, Klaus Adam, Andrey Alexandrov, Henning Weber. First version: April 2023
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Fiscal Progressivity and the Time Consistency of Monetary Policy
387/2023, C02, Antoine Camous
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Wealth of Two Nations: The U.S. Racial Wealth Gap, 1860-2020
368/2022, A03, C02, Ellora Derenoncourt, Chi Hyun Kim, Moritz Kuhn, Moritz Schularick. Published in The Quarterly Journal of Economics (2023), 1-58, 101093
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Corporate Debt Maturity Matters for Monetary Policy
360/2022, C02, C05, Joachim Jungherr, Matthias Meier, Timo Reinelt, Immo Schott
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Modeling Bank Panics: Challenges
343/2022, C02, Lawrence Christiano, Husnu Dalgic, Xiaoming Li. Published in Economica 89 (2022), 200-238
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Expectations Data in Asset Pricing
337/2022, C02, Klaus Adam, Stefan Nagel
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A Behavioral Heterogeneous Agent New Keynesian Model
334/2022, C02, Oliver Pfäuti, Fabian Seyrich
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The Case for a Positive Euro Area Inflation Target: Evidence from France, Germany and Italy
317/2021, C02, Klaus Adam, Erwan Gautier, Sergio Santoro, Henning Weber. Published in Journal of Monetary Economics 132 (2022), 140-153
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Financial Dollarization in Emerging Markets: Efficient Risk Sharing or Prescription for Disaster?
306/2021, C02, Lawrence Christiano, Husnu Dalgic, Armen Nurbekyan
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Monetary Policy Challenges from Falling Natural Interest Rates
240/2020, C02, Klaus Adam
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COVID-19 Supply Chain Disruptions
239/2020, C02, Matthias Meier, Eugenio Pinto
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Falling Natural Rates, Rising Housing Volatility and the Optimal Inflation Target
235/2020, C02, Klaus Adam, Oliver Pfäuti, Timo Reinelt
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The Effects of Trend Inflation on Aggregate Dynamics and Monetary Stabilization
216/2020, C02, Andrey Alexandrov
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Monetary Policy, Markup Dispersion, and Aggregate TFP
161/2020, C02, Matthias Meier, Timo Reinelt. Published in The Review of Economics and Statistics (2022), 101162
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Supply Chain Disruptions, Time to Build, and the Business Cycle
160/2020, C02, Matthias Meier
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Falling Behind: Has Rising Inequality Fueled the American Debt Boom?
159/2020, A04, C02, Moritz Drechsel-Grau, Fabian Greimel. First version: March 2020
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Robustly Optimal Monetary Policy in a New Keynesian Model with Housing
154/2020, C02, Klaus Adam, Michael Woodford
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Estimating the Optimal Inflation Target from Trends in Relative Prices
144/2020, C02, Klaus Adam, Henning Weber. Published as "Optimal Trend Inflation" in American Economic Review, 109(2): 702-737, 2019
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The Emergence of Procyclical Fertility: The Role of Gender Differences in Employment Risk
142/2020, A03, C02, Sena Coskun, Husnu C. Dalgic. First version: January 2020. Published in Journal of Monetary Economics 142 (2024), 103523
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Stock Price Cycles and Business Cycles
105/2019, C02, Klaus Adam, Sebastian Merkel
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Do Plants Freeze Upon Uncertainty Shocks?
075/2019, C02, Ariel Mecikovsky, Matthias Meier
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Financial Dollarization in Emerging Markets: An Insurance Arrangement
051/2018, C02, Husnu C. Dalgic
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Leaning Against Housing Prices as Robustly Optimal Monetary Policy
016/2018, C02, Klaus Adam, Michael Woodford
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Optimal Trend Inflation
010/2018, C02, Klaus Adam, Henning Weber. Published in American Economic Review 109 (2), 702-737