Details about Varadarajan Chari

Postal address:	Economics Department University of Minnesota Minneapolis Mn 55455
Workplace:	Department of Economics, University of Minnesota, (more information at EDIRC) Research Department, Federal Reserve Bank of Minneapolis, (more information at EDIRC)

Access statistics for papers by Varadarajan Chari.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

Short-id: pch40

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Working Papers

2024

1. Taxation of Capital: Capital Levies and Commitment
   NBER Working Papers, National Bureau of Economic Research, Inc

2023

2. On the Efficiency of Competitive Equilibria with Pandemics
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in Staff Report, Federal Reserve Bank of Minneapolis (2023)

2022

3. Appendix for: Optimal Cooperative Taxation in the Global Economy
   Staff Report, Federal Reserve Bank of Minneapolis

2021

4. Comment on Iovino, La’O and Mascarenhas, “Optimal Monetary Policy and Disclosure with an Informationally-Constrained Central Banker”
   Staff Report, Federal Reserve Bank of Minneapolis

2020

5. The Hammer and the Scalpel: On the Economics of Indiscriminate versus Targeted Isolation Policies during Pandemics
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
   Also in Staff Report, Federal Reserve Bank of Minneapolis (2020) View citations (17)
   See also Journal Article The Hammer and the Scalpel: On the Economics of Indiscriminate versus Targeted Isolation Policies during Pandemics, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2021) View citations (16) (2021)

2019

6. Optimal Cooperative Taxation in the Global Economy
   Staff Report, Federal Reserve Bank of Minneapolis View citations (2)

2018

7. Optimal Capital Taxation Revisited
   Working Papers, Federal Reserve Bank of Minneapolis View citations (1)
   Also in Staff Report, Federal Reserve Bank of Minneapolis (2018) View citations (1)
8. Ramsey Taxation in the Global Economy
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
   Also in Working Papers, Federal Reserve Bank of Minneapolis (2017)
9. Ramsey Taxation in the Open Economy
   2018 Meeting Papers, Society for Economic Dynamics
10. The Role of Uncertainty and Risk in Climate Change Economics
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)

2017

11. Financialization in Commodity Markets
    Staff Report, Federal Reserve Bank of Minneapolis View citations (10)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2017) View citations (10)
    NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (19)
12. Reforming the European Monetary Union
    Economic Policy Paper, Federal Reserve Bank of Minneapolis

2016

13. A Proposal to Eliminate the Distortions Caused by Bailouts
    Economic Policy Paper, Federal Reserve Bank of Minneapolis
14. Accounting for Business Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (57)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2016) View citations (40)
    See also Chapter Accounting for Business Cycles, Handbook of Macroeconomics, Elsevier (2016) View citations (67) (2016)
15. Efficiency and Adverse Selection: On the Desirability of Mutual Contracts
    2016 Meeting Papers, Society for Economic Dynamics
16. Financial Repression: Evidence and Theory
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (5)
17. More on the Optimal Taxation of Capital
    2016 Meeting Papers, Society for Economic Dynamics View citations (16)

2015

18. On the Ethics of Redistribution
    Economic Policy Paper, Federal Reserve Bank of Minneapolis

2014

19. Rethinking Optimal Currency Areas
    2014 Meeting Papers, Society for Economic Dynamics View citations (3)
20. The Optimal Extraction of Exhaustible Resources
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (5)
21. Too Correlated to Fail
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (6)

2013

22. Bailouts, Time Inconsistency, and Optimal Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2013) View citations (14)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (6)

2012

23. The \\"banks\\" we do need
    Economic Policy Paper, Federal Reserve Bank of Minneapolis
24. What assets should banks be allowed to hold?
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (3)

2010

25. Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
26. Damage control? analyzing policies to repair credit markets
    Economic Policy Paper, Federal Reserve Bank of Minneapolis View citations (5)
27. Thoughts on the Federal Reserve System's exit strategy
    Economic Policy Paper, Federal Reserve Bank of Minneapolis
28. Time Inconsistency and Free-Riding in a Monetary Union
    Levine's Working Paper Archive, David K. Levine View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (7)
    Staff Report, Federal Reserve Bank of Minneapolis (2008) View citations (51)
    See also Journal Article Time Inconsistency and Free-Riding in a Monetary Union, Journal of Money, Credit and Banking, Blackwell Publishing (2008) View citations (52) (2008)

2009

29. Moral Hazard, Reputation, and Fragility in Credit Markets
    2009 Meeting Papers, Society for Economic Dynamics View citations (1)
30. On the Fragility of Reputation in Financial Markets
    2009 Meeting Papers, Society for Economic Dynamics
31. Prizes and Patents: Using Market Signals to Provide Incentives for Innovations
    Levine's Working Paper Archive, David K. Levine View citations (4)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2009) View citations (3)
    See also Journal Article Prizes and patents: Using market signals to provide incentives for innovations, Journal of Economic Theory, Elsevier (2012) View citations (22) (2012)
32. Sophisticated Monetary Policies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2009) View citations (8)
    Working Papers, Federal Reserve Bank of Minneapolis (2008)
    See also Journal Article Sophisticated Monetary Policies, The Quarterly Journal of Economics, President and Fellows of Harvard College (2010) View citations (41) (2010)

2008

33. Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (204)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (40)
    See also Journal Article Are structural VARs with long-run restrictions useful in developing business cycle theory?, Journal of Monetary Economics, Elsevier (2008) View citations (210) (2008)
34. Facts and myths about the financial crisis of 2008
    Working Papers, Federal Reserve Bank of Minneapolis View citations (40)
35. New Keynesian Models: Not Yet Useful for Policy Analysis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2008) View citations (27)
    Staff Report, Federal Reserve Bank of Minneapolis (2008) View citations (28)
    See also Journal Article New Keynesian Models: Not Yet Useful for Policy Analysis, American Economic Journal: Macroeconomics, American Economic Association (2009) View citations (306) (2009)
36. On the Job Training, Limited Commitment and Firing Costs
    2008 Meeting Papers, Society for Economic Dynamics

2007

37. Comparing alternative representations and alternative methodologies in business cycle accounting
    Staff Report, Federal Reserve Bank of Minneapolis View citations (22)
    Also in Working Papers, Federal Reserve Bank of Minneapolis (2006)
38. On the Optimal Choice of a Monetary Policy Instrument
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (13)
39. Reply to Solow
    Working Papers, Federal Reserve Bank of Minneapolis
40. The Heterogeneous State of Modern Macroeconomics: A Reply to Solow
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2007) View citations (2)

2006

41. Appendices: Business cycle accounting
    Staff Report, Federal Reserve Bank of Minneapolis View citations (16)
42. Business cycle accounting
    Staff Report, Federal Reserve Bank of Minneapolis View citations (29)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (84)
    Working Papers, Federal Reserve Bank of Minneapolis (2002) View citations (42)
    See also Journal Article Business Cycle Accounting, Econometrica, Econometric Society (2007) View citations (576) (2007)
43. Modern Macroeconomics in Practice: How Theory is Shaping Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (75)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2006) View citations (69)
    See also Journal Article Modern Macroeconomics in Practice: How Theory Is Shaping Policy, Journal of Economic Perspectives, American Economic Association (2006) View citations (72) (2006)

2005

44. A critique of structural VARs using real business cycle theory
    Working Papers, Federal Reserve Bank of Minneapolis View citations (79)
45. Are Structural VARs Useful Guides for Developing Business Cycle Theories?
    2005 Meeting Papers, Society for Economic Dynamics View citations (27)
46. Copyrights, Price Discrimination and Hidden Trading: Lessons from a Ricardian Theory of Innovation
    2005 Meeting Papers, Society for Economic Dynamics
47. Sudden Stops and Output Drops
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (127)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2005) View citations (108)
    See also Journal Article Sudden Stops and Output Drops, American Economic Review, American Economic Association (2005) View citations (129) (2005)

2004

48. On the Desirability of Fiscal Constraints in a Monetary Union
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations (8)
49. Strategic Delegation in Monetary Unions
    Working Papers, Barcelona School of Economics
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2004)
    See also Journal Article Strategic Delegation in Monetary Unions, Manchester School, University of Manchester (2004) View citations (1) (2004)

2003

50. Business Start-ups, the Lock-in Effect, and Capital Gains Taxation
    Levine's Working Paper Archive, David K. Levine View citations (6)
51. Expectation traps and monetary policy
    Staff Report, Federal Reserve Bank of Minneapolis View citations (85)
    Also in Macroeconomics, University Library of Munich, Germany (2002) View citations (28)
    NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (39)
    Working Paper Series, Federal Reserve Bank of Chicago (2002) View citations (10)
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University View citations (103)
    See also Journal Article Expectation Traps and Monetary Policy, The Review of Economic Studies, Review of Economic Studies Ltd (2003) View citations (102) (2003)
52. Financial Crises as Herds: Overturning the Critiques
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (2003) View citations (8)
    See also Journal Article Financial crises as herds: overturning the critiques, Journal of Economic Theory, Elsevier (2004) View citations (100) (2004)
53. Hot money
    Staff Report, Federal Reserve Bank of Minneapolis View citations (29)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (8)
    See also Journal Article Hot Money, Journal of Political Economy, University of Chicago Press (2003) View citations (31) (2003)

2002

54. Accounting for the Great Depression (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis View citations (62)
55. Can sticky price models generate volatile and persistent real exchange rates?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (875)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1998) View citations (103)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (99)
    See also Journal Article Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?, The Review of Economic Studies, Review of Economic Studies Ltd (2002) View citations (916) (2002)
56. On the robustness of herds
    Working Papers, Federal Reserve Bank of Minneapolis View citations (3)

2001

57. How Severe is the Time Inconsistency Problem in Monetary Policy?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
    See also Journal Article How severe is the time-inconsistency problem in monetary policy?, Quarterly Review, Federal Reserve Bank of Minneapolis (2003) View citations (11) (2003)

2000

58. Financial crises as herds
    Working Papers, Federal Reserve Bank of Minneapolis View citations (17)

1999

59. Optimal Fiscal and Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (475)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1998) View citations (15)
    See also Chapter Optimal fiscal and monetary policy, Handbook of Macroeconomics, Elsevier (1999) View citations (479) (1999)

1998

60. On the need for fiscal constraints in a monetary union
    Working Papers, Federal Reserve Bank of Minneapolis View citations (29)
    See also Journal Article On the need for fiscal constraints in a monetary union, Journal of Monetary Economics, Elsevier (2007) View citations (97) (2007)
61. Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (58)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (82)
    See also Journal Article Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?, Econometrica, Econometric Society (2000) View citations (716) (2000)
62. Sustainable Plans
    Levine's Working Paper Archive, David K. Levine View citations (30)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1989) View citations (4)
    See also Journal Article Sustainable Plans, Journal of Political Economy, University of Chicago Press (1990) View citations (245) (1990)

1997

63. Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (70)
64. The economics of split-ticket voting in representative democracies
    Working Papers, Federal Reserve Bank of Minneapolis View citations (94)
    See also Journal Article The Economics of Split-Ticket Voting in Representative Democracies, American Economic Review, American Economic Association (1997) View citations (112) (1997)
65. The poverty of nations: a quantitative exploration
    Staff Report, Federal Reserve Bank of Minneapolis View citations (49)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (99)

1996

66. Expectation Traps and Discretion
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (47)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1996) View citations (4)
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1996) View citations (9)
    See also Journal Article Expectation Traps and Discretion, Journal of Economic Theory, Elsevier (1998) View citations (121) (1998)
67. Matching Human Capital and Displacement
    RCER Working Papers, University of Rochester - Center for Economic Research (RCER)
68. Optimal fiscal policy in a business cycle model (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis View citations (1)

1995

69. Inside Money, Outside Money and Short Term Interest Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (106)
    Also in Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago (1995) View citations (67)
    See also Journal Article Inside Money, Outside Money, and Short-Term Interest Rates, Journal of Money, Credit and Banking, Blackwell Publishing (1995) View citations (104) (1995)

1993

70. A contribution to the theory of pork barrel spending
    Staff Report, Federal Reserve Bank of Minneapolis View citations (17)
71. Optimal Fiscal Policy in a Business Cycle Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) View citations (6)
    See also Journal Article Optimal Fiscal Policy in a Business Cycle Model, Journal of Political Economy, University of Chicago Press (1994) View citations (404) (1994)
72. Optimality of the Friedman Rule in Economies with Distorting Taxes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
    Also in Staff Report, Federal Reserve Bank of Minneapolis (1993) View citations (12)
    See also Journal Article Optimality of the Friedman rule in economies with distorting taxes, Journal of Monetary Economics, Elsevier (1996) View citations (199) (1996)
73. Why are representative democracies fiscally irresponsible?
    Staff Report, Federal Reserve Bank of Minneapolis View citations (12)

1991

74. A reconsideration of the problem of social cost: free riders and monopolists
    Staff Report, Federal Reserve Bank of Minneapolis View citations (4)
    See also Journal Article A reconsideration of the problem of social cost: Free riders and monopolists, Economic Theory, Springer (2000) View citations (12) (2000)
75. Optimal fiscal and monetary policy: some recent results
    Staff Report, Federal Reserve Bank of Minneapolis View citations (249)
    See also Journal Article Optimal Fiscal and Monetary Policy: Some Recent Results, Journal of Money, Credit and Banking, Blackwell Publishing (1991) View citations (267) (1991)
76. Optimal fiscal policy in a stochastic growth model (technical appendix)
    Working Papers, Federal Reserve Bank of Minneapolis View citations (2)

1989

77. International coordination of fiscal policy in limiting economies
    Staff Report, Federal Reserve Bank of Minneapolis View citations (5)
    See also Journal Article International Coordination of Fiscal Policy in Limiting Economies, Journal of Political Economy, University of Chicago Press (1990) View citations (52) (1990)
78. Labor contracts in a model of imperfect competition
    Staff Report, Federal Reserve Bank of Minneapolis View citations (1)
    See also Journal Article Labor Contracts in a Model of Imperfect Competition, American Economic Review, American Economic Association (1989) View citations (1) (1989)
79. Sustainable plans and debt
    Staff Report, Federal Reserve Bank of Minneapolis View citations (7)
    See also Journal Article Sustainable Plans and Debt, Journal of Economic Theory, Elsevier (1993) View citations (50) (1993)
80. Sustainable plans and mutual default
    Staff Report, Federal Reserve Bank of Minneapolis View citations (2)
    See also Journal Article Sustainable Plans and Mutual Default, The Review of Economic Studies, Review of Economic Studies Ltd (1993) View citations (67) (1993)

1988

81. Time consistency and policy
    Staff Report, Federal Reserve Bank of Minneapolis View citations (34)

1987

82. Seasonalities in security returns: the case of earnings announcements
    Staff Report, Federal Reserve Bank of Minneapolis View citations (5)

1984

83. Banking Panics
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science View citations (50)
84. Layoffs and Unemployment Compensation as Social Instruments
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science

1980

85. Equilibrium Contracts in a Monetary Economy
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science View citations (1)
86. Involuntary Unemployment and Implicit Contracts
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science View citations (5)

1979

87. Linear Stochastic Models with Decentralized Information
    Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science

Journal Articles

2021

1. The Hammer and the Scalpel: On the Economics of Indiscriminate versus Targeted Isolation Policies during Pandemics
   Review of Economic Dynamics, 2021, 42, 1-14 View citations (16)
   See also Working Paper The Hammer and the Scalpel: On the Economics of Indiscriminate versus Targeted Isolation Policies during Pandemics, NBER Working Papers (2020) View citations (27) (2020)

2018

2. Comment
   NBER Macroeconomics Annual, 2018, 32, (1), 527 - 536

2016

3. Bailouts, Time Inconsistency, and Optimal Regulation: A Macroeconomic View
   American Economic Review, 2016, 106, (9), 2458-93 View citations (70)

2014

4. On the social usefulness of fractional reserve banking
   Journal of Monetary Economics, 2014, 65, (C), 1-13 View citations (15)
5. Reputation and Persistence of Adverse Selection in Secondary Loan Markets
   American Economic Review, 2014, 104, (12), 4027-70 View citations (44)

2012

6. Prizes and patents: Using market signals to provide incentives for innovations
   Journal of Economic Theory, 2012, 147, (2), 781-801 View citations (22)
   See also Working Paper Prizes and Patents: Using Market Signals to Provide Incentives for Innovations, Levine's Working Paper Archive (2009) View citations (4) (2009)

2010

7. Sophisticated Monetary Policies
   The Quarterly Journal of Economics, 2010, 125, (1), 47-89 View citations (41)
   See also Working Paper Sophisticated Monetary Policies, NBER Working Papers (2009) View citations (15) (2009)

2009

8. New Keynesian Models: Not Yet Useful for Policy Analysis
   American Economic Journal: Macroeconomics, 2009, 1, (1), 242-66 View citations (306)
   See also Working Paper New Keynesian Models: Not Yet Useful for Policy Analysis, NBER Working Papers (2008) View citations (58) (2008)

2008

9. Are structural VARs with long-run restrictions useful in developing business cycle theory?
   Journal of Monetary Economics, 2008, 55, (8), 1337-1352 View citations (210)
   See also Working Paper Are Structural VARs with Long-Run Restrictions Useful in Developing Business Cycle Theory?, NBER Working Papers (2008) View citations (204) (2008)
10. Hysteresis in unemployment - comments
    Conference Series ; [Proceedings], 2008
11. Time Inconsistency and Free-Riding in a Monetary Union
    Journal of Money, Credit and Banking, 2008, 40, (7), 1329-1356 View citations (52)
    See also Working Paper Time Inconsistency and Free-Riding in a Monetary Union, Levine's Working Paper Archive (2010) View citations (2) (2010)

2007

12. Business Cycle Accounting
    Econometrica, 2007, 75, (3), 781-836 View citations (576)
    See also Working Paper Business cycle accounting, Staff Report (2006) View citations (29) (2006)
13. Modern macroeconomics in practice: how theory is shaping monetary policy
    Annual Report, 2007, 21, (May), 6-28
14. On the need for fiscal constraints in a monetary union
    Journal of Monetary Economics, 2007, 54, (8), 2399-2408 View citations (97)
    See also Working Paper On the need for fiscal constraints in a monetary union, Working Papers (1998) View citations (29) (1998)

2006

15. Modern Macroeconomics in Practice: How Theory Is Shaping Policy
    Journal of Economic Perspectives, 2006, 20, (4), 3-28 View citations (72)
    See also Working Paper Modern Macroeconomics in Practice: How Theory is Shaping Policy, NBER Working Papers (2006) View citations (75) (2006)

2005

16. DISCUSSION OF HE, HUANG, AND WRIGHT'S "MONEY AND BANKING IN SEARCH EQUILIBRIUM"
    International Economic Review, 2005, 46, (2), 671-674
17. Sudden Stops and Output Drops
    American Economic Review, 2005, 95, (2), 381-387 View citations (129)
    See also Working Paper Sudden Stops and Output Drops, NBER Working Papers (2005) View citations (127) (2005)

2004

18. Comment on: "An empirical analysis of the economic impact of federal terrorism reinsurance"
    Journal of Monetary Economics, 2004, 51, (5), 899-902 View citations (3)
19. Discussion of Growth and Foreign Direct Investment: Does Policy Play a Role?
    American Journal of Agricultural Economics, 2004, 86, (3), 802-804
20. Financial crises as herds: overturning the critiques
    Journal of Economic Theory, 2004, 119, (1), 128-150 View citations (100)
    See also Working Paper Financial Crises as Herds: Overturning the Critiques, NBER Working Papers (2003) View citations (14) (2003)
21. Strategic Delegation in Monetary Unions
    Manchester School, 2004, 72, (s1), 19-33 View citations (1)
    See also Working Paper Strategic Delegation in Monetary Unions, Working Papers (2004) (2004)

2003

22. Accounting for the Great Depression
    Quarterly Review, 2003, 27, (Spr), 2-8 View citations (11)
    Also in American Economic Review, 2002, 92, (2), 22-27 (2002) View citations (76)
23. Expectation Traps and Monetary Policy
    The Review of Economic Studies, 2003, 70, (4), 715-741 View citations (102)
    See also Working Paper Expectation traps and monetary policy, Staff Report (2003) View citations (85) (2003)
24. Hot Money
    Journal of Political Economy, 2003, 111, (6), 1262-1292 View citations (31)
    See also Working Paper Hot money, Staff Report (2003) View citations (29) (2003)
25. How severe is the time-inconsistency problem in monetary policy?
    Quarterly Review, 2003, 27, (Sum), 17-33 View citations (11)
    See also Working Paper How Severe is the Time Inconsistency Problem in Monetary Policy?, NBER Working Papers (2001) View citations (23) (2001)

2002

26. Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates?
    The Review of Economic Studies, 2002, 69, (3), 533-563 View citations (916)
    See also Working Paper Can sticky price models generate volatile and persistent real exchange rates?, Staff Report (2002) View citations (875) (2002)

2000

27. A reconsideration of the problem of social cost: Free riders and monopolists
    Economic Theory, 2000, 16, (1), 1-22 View citations (12)
    See also Working Paper A reconsideration of the problem of social cost: free riders and monopolists, Staff Report (1991) View citations (4) (1991)
28. Limits of Markets and Limits of Governments: An Introduction to a Symposium on Political Economy
    Journal of Economic Theory, 2000, 94, (1), 1-6 View citations (5)
29. Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?
    Econometrica, 2000, 68, (5), 1151-1180 View citations (716)
    See also Working Paper Sticky price models of the business cycle: can the contract multiplier solve the persistence problem?, Staff Report (1998) View citations (58) (1998)

1999

30. Asking the right questions about the IMF
    Annual Report, 1999, 3-26 View citations (9)
31. Comment on Private Money
    Journal of Money, Credit and Banking, 1999, 31, (3), 498-99
32. Nobel laureate Robert E. Lucas, Jr.; architect of modern macroeconomics
    Quarterly Review, 1999, 23, (Spr), 2-12 View citations (1)
    Also in Journal of Economic Perspectives, 1998, 12, (1), 171-186 (1998) View citations (11)
33. Taxing capital income: a bad idea
    Quarterly Review, 1999, 23, (Sum), 3-17 View citations (166)
34. Unemployment today in Europe and Japan: Lessons from the U.S. Great Depression
    Fedgazette, 1999, 11, (Jul), 13

1998

35. Expectation Traps and Discretion
    Journal of Economic Theory, 1998, 81, (2), 462-492 View citations (121)
    See also Working Paper Expectation Traps and Discretion, NBER Working Papers (1996) View citations (47) (1996)

1997

36. Comment on "Inflation Forecasts and Monetary Policy."
    Journal of Money, Credit and Banking, 1997, 29, (4), 685-86 View citations (1)
37. The Economics of Split-Ticket Voting in Representative Democracies
    American Economic Review, 1997, 87, (5), 957-76 View citations (112)
    See also Working Paper The economics of split-ticket voting in representative democracies, Working Papers (1997) View citations (94) (1997)

1996

38. Inflation, growth, and financial intermediation
    Proceedings, 1996, 78, (May), 41-58 View citations (34)
    Also in Review, 1996, 78, (May), 41-58 (1996) View citations (19)
39. Optimality of the Friedman rule in economies with distorting taxes
    Journal of Monetary Economics, 1996, 37, (2-3), 203-223 View citations (199)
    See also Working Paper Optimality of the Friedman Rule in Economies with Distorting Taxes, NBER Working Papers (1993) View citations (51) (1993)

1995

40. Inside Money, Outside Money, and Short-Term Interest Rates
    Journal of Money, Credit and Banking, 1995, 27, (4), 1354-86 View citations (104)
    Also in Proceedings, 1994, 1354-1401 (1994) View citations (16)
    See also Working Paper Inside Money, Outside Money and Short Term Interest Rates, NBER Working Papers (1995) View citations (106) (1995)
41. The growth effects of monetary policy
    Quarterly Review, 1995, 19, (Fall), 18-32 View citations (51)

1994

42. Optimal Fiscal Policy in a Business Cycle Model
    Journal of Political Economy, 1994, 102, (4), 617-52 View citations (404)
    See also Working Paper Optimal Fiscal Policy in a Business Cycle Model, NBER Working Papers (1993) View citations (12) (1993)

1993

43. Sustainable Plans and Debt
    Journal of Economic Theory, 1993, 61, (2), 230-261 View citations (50)
    See also Working Paper Sustainable plans and debt, Staff Report (1989) View citations (7) (1989)
44. Sustainable Plans and Mutual Default
    The Review of Economic Studies, 1993, 60, (1), 175-195 View citations (67)
    See also Working Paper Sustainable plans and mutual default, Staff Report (1989) View citations (2) (1989)

1992

45. How the U.S. Treasury should auction its debt
    Quarterly Review, 1992, 16, (Fall), 3-12 View citations (25)

1991

46. Optimal Fiscal and Monetary Policy: Some Recent Results
    Journal of Money, Credit and Banking, 1991, 23, (3), 519-39 View citations (267)
    Also in Proceedings, 1991, 519-546 (1991) View citations (259)
    See also Working Paper Optimal fiscal and monetary policy: some recent results, Staff Report (1991) View citations (249) (1991)
47. Vintage Human Capital, Growth, and the Diffusion of New Technology
    Journal of Political Economy, 1991, 99, (6), 1142-65 View citations (248)

1990

48. International Coordination of Fiscal Policy in Limiting Economies
    Journal of Political Economy, 1990, 98, (3), 617-36 View citations (52)
    See also Working Paper International coordination of fiscal policy in limiting economies, Staff Report (1989) View citations (5) (1989)
49. Playing by the rules: a proposal for federal budget reform
    Annual Report, 1990
50. Price Stability and Futures Trading in Commodities
    The Quarterly Journal of Economics, 1990, 105, (2), 527-534 View citations (12)
51. Sustainable Plans
    Journal of Political Economy, 1990, 98, (4), 783-802 View citations (245)
    See also Working Paper Sustainable Plans, Levine's Working Paper Archive (1998) View citations (30) (1998)
52. The simple analytics of commodity futures markets: do they stabilize prices? Do they raise welfare?
    Quarterly Review, 1990, 4, (Sum), 12-24

1989

53. Banking without deposit insurance or bank panics: lessons from a model of the U.S. national banking system
    Quarterly Review, 1989, 13, (Sum), 3-19 View citations (37)
54. Labor Contracts in a Model of Imperfect Competition
    American Economic Review, 1989, 79, (2), 358-63 View citations (1)
    See also Working Paper Labor contracts in a model of imperfect competition, Staff Report (1989) View citations (1) (1989)

1988

55. Time consistency and optimal policy design
    Quarterly Review, 1988, (Fall), 17-31 View citations (16)

1985

56. Macroeconomic effects of fiscal policy A comment
    Carnegie-Rochester Conference Series on Public Policy, 1985, 23, (1), 139-141

Chapters

2017

1. Comment on "Credit Market Freezes"
   A chapter in NBER Macroeconomics Annual 2017, volume 32, 2017, pp 527-536

2016

2. Accounting for Business Cycles
   Elsevier View citations (67)
   See also Working Paper Accounting for Business Cycles, National Bureau of Economic Research, Inc (2016) View citations (57) (2016)

2013

3. Comment on "Pledgability and Liquidity: A New Monetarist Model of Financial and Macroeconomic Activity"
   A chapter in NBER Macroeconomics Annual 2013, Volume 28, 2013, pp 271-278

2012

4. A Macroeconomist's Wish List of Financial Data
   A chapter in Risk Topography: Systemic Risk and Macro Modeling, 2012, pp 215-232 View citations (2)

1999

5. Optimal fiscal and monetary policy
   Chapter 26 in Handbook of Macroeconomics, 1999, vol. 1, Part C, pp 1671-1745 View citations (479)
   See also Working Paper Optimal Fiscal and Monetary Policy, National Bureau of Economic Research, Inc (1999) View citations (475) (1999)