- [12[ Cooley, T. and E. Prescott (1995). Economic Growth and Business Cycles. in T. Cooley (ed.), .Frontiers of Business Cycle Research, Princeton NJ: Princeton University Press.
Paper not yet in RePEc: Add citation now
[13[ Demertzis, M. and A.F. Tieman, 2004, Robust versus Optimal Rules in Monetary Policy: A Note,!! IMF Working Paper No. 04/96 (Washington, D.C.: International Monetary Fund).
[14[ Elekdag, S. and I. Tchakarov (2004). Balance Sheets, Exchange Rate Policy and Wel- fare, (unpublished; Washington, DC: International Monetary Fund).
[15[ Erceg, C., D. Henderson and A. Levin (2000). Optimal Monetary Policy with Stag- gered Wage and Price Contracts. Journal of Monetary Economics 46(2), pp. 281-313.
[16[ Erceg, C. and A. Levin (2001). Imperfect Credibility and Inflation Persistence, Work- ing Paper, Board of Governors of the Federal Reserve System.
[17[ Erceg, C., L. Guerrieri and C. Gust (2003). SIGMA: A New Open Economy Model for Policy Analysis. Draft Paper prepared for the Annual Central Bank Modelers Workshop, Amsterdam.
[18[ Gali, J. (1999). Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations? American Economic Review, March, pp. 249- 271. Working Paper Series We 6 3
[19[ Gall, J., M. Gertler, and J. D. López-Salido (2002). Markups, Gaps, and the Welfare Costs of Business Fluctuations, National Bureau of Economic Research Working Paper No. 8850, March.
[2[ Anderson, E. W., L. P. Hansen and T. Sargent (2003). A Quartet of Semigroups for Model Specification, Robustness, Prices of Risk, and Model Detection, Working Paper.
[20[ Giannoni, M. P. and M. Woodford (2002a). Optimal Interest-Rate Rules: I. General Theory. NBER Working Paper No. 9419 (Cambridge, Massachusetts: National Bureau of Economic Research).
[21[ Giannoni, M. P. and M. Woodford (2002b). Optimal Interest-Rate Rules: II. Applica- tions. NBER Working Paper No. 9420 (Cambridge, Massachusetts: National Bureau of Economic Research).
[22[ Hall, R. (1988). The Relation Between Price and Marginal Cost in U.S. Industry. Journal of Political Economy, Vol. 96, pp. 921-947.
[23[ Hall, R., and C. Jones (1999). Why do Some Countries Produce So Much More Output per Worker than Others? Quarterly Journal of Economics, Vol. U4 (February), pp. 83-116.
[24[ Hansen, L. P., and T. Sargent (2003). Robust Control of Forward Looking Models. Journal of Monetary Economics, forthcoming.
[25[ Ireland, P. (2001). Sticky-Price Models of the Business Cycle: Specification and Sta- bility. Journal of Monetary Economics 47, February, pp.3-18.
[26[ Jean, S. and G. Nicoletti (2002). Product market Regulation and Wage Pre- mia in Europe and North America, OECD Economics Department Working Paper ECO/WKP (200 2)4.
- [27[ Juillard, M. (2004). DYNARE: A Program for Simulating and Estimating SDGE Models. http://www. cepremap. cnrs.fr/dynare. Wc~r~ ap~ ne ~o~3
Paper not yet in RePEc: Add citation now
[28] Kim, J. (2000). Constructing and Estimating a Realistic Optimizing Model of Mone- tary Policy. Journal of Monetary Economies 45, April, pp. 329-359.
[29] Kim, J. and S. Kim (2003). Welfare Effects of Tax Policy in Open Economies: Stabi- lization and Cooperation, (unpublished; Virginia: University of Virginia).
[3[ Bayoumi, T., D. Laxton and P. Pesenti (2004). Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment. NBER Working Paper No. 10416 (Cambridge, Massachusetts: National Bureau of Economic Research).
[30] Kim, J., S. Kim, E. Schaumburg and C. Sims (2003). Calculating and Using Sec- ond Order Accurate Solutions of Discrete Time Dynamic Equilibrium Models, Draft, August 3, 2003, http://eeo-O%2399b.prineeton. edu/yftp/gensys~2/Algorithm~2.pdf
[31] Kollmann, R. (2002). Monetary Policy in the Open Economy: Effects on Welfare and Business Cycles, Journal of Monetary Economies 49, pp. 989-lOiS.
[32] Lane, P. (2000). The New Open Economy Macroeconomics: A Survey. Working Paper, Trinity College, Dublin.
- [33] Laxton, D., and R. Tetlow (1992). A Simple Multivariate Filter for the Measurement of Potential Output. Bank of Canada, Technical Report No. 59.
Paper not yet in RePEc: Add citation now
[34] Laxton, D., and P. NDiaye (2002). Monetary Policy Credibility and the Unemployment-Inflation Trade-off: Some Evidence from 17 Industrial Countries, Working Paper WP/02/220, International Monetary Fund.
[35] Laxton, D., and P. Pesenti (2003). Monetary Policy Rules for Small, Open, Emerging Economies. Journal of Monetary Economies 50, July, pp. 1109-1146.
[36] Lucas, R.E. Jr. (2003). Macroeconomic Priorities. Department of Economics, Uni- versity of Chicago.
- [37] Martins, J.O., S. Scarpetta, and D. Pilat (1996). Mark-up Pricing, Market Structure and the Business Cycle. OECD Economic Studies 27 (II), pp.71-106.
Paper not yet in RePEc: Add citation now
[38] Orphanides, A. (2003). Historical Monetary Policy Analysis and the Taylor Rule. Journal of Monetary Economies, Vol. 50, pp. 983-1022. Working Paper Series We 6 3
- [39[ Pesenti, P. (2005). The IMF Global Economy Model (GEM): Theoretical Framework, Working Paper, International Monetary Fund, forthcoming.
Paper not yet in RePEc: Add citation now
[4[ Bergin, P. and I. Tchakarov (2003). Does Exchange Rate Risk Matter for Welfare? A Quantitative Investigation, NBER Working Paper No. 9900 (Cambridge, Massa- chusetts: National Bureau of Economic Research).
[40[ Prescott, E.C. (2003). Why Do Americans Work So Much More Than Europeans?, Federal Reserve Bank of Minneapolis, Research Department Staff Report 231, Novem- ber.
- [41[ Roeger, W. (1995). Can Imperfect Competition Explain the Difference Between Pri- mal and Dual Productivity Measures? Estimates for U.S. Manufacturing. Journal of Political Economy 103, April, pp.316-330.
Paper not yet in RePEc: Add citation now
[42[ Rotemberg, Julio J. (1982). Sticky Prices in the United States. Journal of Political Economy 90, December, pp.1 187-1211.
[43[ Rotemberg, J.J. and M. Woodford (1998). An Optimization-Based Econometric Model for the Evaluation of Monetary Policy. NBER Technical Working Paper no. 233, May.
[44[ Rotemberg, J.J. and M. Woodford (1999). Interest Rate Rules in an Estimated Sticky Price Model. In Monetary Policy Rules, ed. John B. Taylor. Chicago: University of Chicago Press, pp.57-119.
[45[ Rudebusch, G.D. and L. E.O. Svensson (1999). Policy Rules for Inflation Targeting. In Monetary Policy Rules, ed. John B. Taylor. Chicago: University of Chicago Press, pp.203-246.
[46[ Rudebusch, G.D. (2002a). Assessing Nominal Income Rules for Monetary Policy with Model and Data Uncertainty. Economic Journal, 112, pp.402-432.
[47[ Rudebusch, G.D. (2002b). Term Structure Evidence on Interest Rate Smoothing and Monetary Policy Inertia. Journal of Monetary Economics 49, pp.1161-1187.
[48[ Schmitt-Grohe, S., and M. Uribe (2004). Optimal Fiscal and Monetary Policy under Sticky Prices. Journal of Economic Theory, Vol. 114, February, pp.198-230. Wc~r~ ap~ nie ~o~3
- [49] Schorfheide, F. (2004). Notes on Model Evaluation. Department of Economics, Uni- versity of Pennsylvania.
Paper not yet in RePEc: Add citation now
- [5[ Bryant, R.C., P. Hooper and C.L. Mann (1993). Evaluating Policy Regimes. The Brook- ings Institution, Washington D.C.
Paper not yet in RePEc: Add citation now
[52] Sims, C. and T. Zha (1998). Bayesian Methods for Dynamic Multivariate Models. International Economic Review, 49, pp. 949-968.
[53] Smets, F. and R. Wouters (2004). Shocks and Frictions in Business Cycles: A Bayesian DSGE Approach. Working Paper, European Central Bank and the National Bank of Belgium.
[54] Straub, R. and I. Tchakarov (2004). Non-fundamental Exchange Rate Volatility and Welfare, ECB Working Paper No. 328 (Frankfurt, Germany: European Central Bank).
[55] Svensson, L E.O. (1999a). Inflation Targeting as a Monetary Policy Rule. Journal of Monetary Economics, 43, pp. 607-654.
[56] Svensson, L E.O. (1999b). How Should Monetary Policy Be Conducted in an Era of Price Stability? In New Challenges for Monetary Policy. Federal Reserve Bank of Kansas City, Kansas City, pp. 195-259.
[57] Svensson, L E.O. (2003a). The Inflation Forecast and the Loss Function. Central Bank Banking Monetary Theory and Practice: Essays in Honour of Charles Goodhart, in Paul Mizen, ed., Volume I, Edward Elgar, pp. 135-152.
[58] Svensson, L E.O. (2003b). What Is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules. Journal of Economic Literature, 41(2003) 426-477 Working Paper Series We 63
[59[ Svensson, L E.O.and M. Woodford (2003). Implementing Optimal Policy through Inflation-Forecast Targeting. NBER Working Paper No. 9747.
[6[ Christiano,L., M. Eichenbaum and C. Evans. (2003). Nominal Rigidities and the Dy- namic Effects of a Shock to Monetary Policy, Journal of Political Economics, forth- coming.
[60[ Svensson, L E.O.and M. Woodford (2003). Indicator Variables for Optimal Policy. Journal of Monetary Economics, 50 (2003), pp. 691-720.
[61[ Taylor, J. (1993). Discretion Versus Policy Rules in Practice. Carnegie-Rochester Conference Series on Public Policy, Vol. 39, pp. 195-214.
[62[ Williams, J. (2003). Simple Rules for Monetary Policy. FRBSF Economic Review, 2003.
[63[ Woodford, M. (2001).The Taylor Rule and Optimal Monetary Policy. American Eco- nomic Review, 91(2), pp. 231-237.
[64[ Woodford, M. (2003a). Optimal Monetary Policy Inertia. Review of Economic Studies, vol. 70, pp. 861-886.
- [65[ Woodford, M. (2003b). Interest and Prices. Foundations of a Theory of Monetary Pol- icy. Princeton, NJ: Princeton University Press. Wc~r~ ap~ nie ~o~3
Paper not yet in RePEc: Add citation now
[7[ Christiano, L., R. Motto and M. Rostagno (2004). The Great Depression and the Friedman-Schwartz Hypothesis, Working Paper, Northwestern University.
- [8[ Coenen, G. (2003). Discussion of When Leaner Isnt Meaner: Measuring Benefits and Spillovers of Greater Competition in Europe. Presented at the 2nd International Research Forum on Monetary Policy, Washington, D.C.
Paper not yet in RePEc: Add citation now
- [9[ Cogley, T. and T. Sargent (2003). The Conquest of U.S. Inflation: Learning, Model Uncertainty, and Robustness. Working Paper, University of California, Davis and New York University. Wcrkng Pape! Series No 6~3
Paper not yet in RePEc: Add citation now
- [i[ Altig, D., L. Christiano, M. Eichenbaum and J. Linde (2003). Technology Shocks and Aggregate Fluctuations, Working Paper, Northwestern University.
Paper not yet in RePEc: Add citation now
[i0[ Collard, F. and M. Juillard (2001a). Accuracy of Stochastic Perturbation Methods: The Case of Asset Pricing Models. Journal of Economic Dynamics and Control, 25, pp. 979-999.
[ii[ Collard, F. and M. Juillard (2001b). A Higher-Order Taylor Expansion Approach to Simulation of Stochastic Forward-Looking Models with an Application to a Non-Linear Phillips Curve. Computational Economics, pp. 125-139.
- [Si] Sims, C. (2003). Matlab Procedures to Compute Marginal Data Densities for VARs with Minnesota and Training Sample Priors. Department of Economics, Princeton.
Paper not yet in RePEc: Add citation now
[SO] Sims, C. (2002). The Role of Models and Probabilities in the Monetary Policy Process. Brookings Papers on Economic Activity, 2.