Damjan Pfajfar

Board of Governors of the Federal Reserve System

Principal Economist

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

SCHOLARLY PAPERS

26

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1,881

SSRN CITATIONS
Rank 10,415

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Top 10,415

in Total Papers Citations

55

CROSSREF CITATIONS

63

Scholarly Papers (26)

1.

Consumers' Attitudes and Their Inflation Expectations

FEDS Working Paper No. 2015-015, http://dx.doi.org/10.17016/FEDS.2015.015
Number of pages: 31 Posted: 19 Apr 2015
Michael Ehrmann, Damjan Pfajfar and Emiliano Santoro
European Central Bank (ECB), Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 259 (165,703)
Citation 8

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Consumer Attitudes, Inflation Expectations, News on Inflation

2.

The Role of Financial Intermediaries in Monetary Policy Transmission

De Nederlandsche Bank Working Paper No. 420
Number of pages: 23 Posted: 24 Apr 2014
Thorsten Beck, Andrea Colciago and Damjan Pfajfar
City University London - The Business School, De Nederlandsche Bank - Research Department and Board of Governors of the Federal Reserve System
Downloads 236 (181,276)
Citation 4

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Financial Intermediation, DSGE models, Financial Frictions

3.

Inflation Expectations and Monetary Policy Design: Evidence from the Laboratory

CentER Discussion Paper Series No. 2011-091
Number of pages: 62 Posted: 26 Jan 2009 Last Revised: 15 Aug 2011
Damjan Pfajfar and Blaz Zakelj
Board of Governors of the Federal Reserve System and Universitat Pompeu Fabra
Downloads 185 (226,678)
Citation 23

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Laboratory Experiments, Inflation Expectations, New Keynesian Mode, Monetary Policy Design

4.

Credit Market Distortions, Asset Prices and Monetary Policy

European Banking Center Discussion Paper No. 2012-005, CentER Discussion Paper Series No. 2012-010
Number of pages: 28 Posted: 02 Feb 2012
Damjan Pfajfar and Emiliano Santoro
Board of Governors of the Federal Reserve System and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 98 (367,491)
Citation 4

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monetary policy, cost channel, asset prices, determinacy, e-stability

5.

Frictions, Persistence, and Central Bank Policy in an Experimental Dynamic Stochastic General Equilibrium Economy

TILEC Discussion Paper No. 2011-030, European Banking Center Discussion Paper No. 2011-006
Number of pages: 54 Posted: 16 Mar 2011 Last Revised: 26 Mar 2011
Charles N. Noussair, Damjan Pfajfar and Janos Zsiros
Tilburg University, Board of Governors of the Federal Reserve System and Cornell University
Downloads 98 (367,491)
Citation 7

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Experimental Economics, DSGE economy, Monetary Policy, Menu costs

6.

Uncertainty and Disagreement in Forecasting Inflation: Evidence from the Laboratory

European Banking Center Discussion Paper No. 2012-018, CentER Discussion Paper Series No. 2012-072
Number of pages: 66 Posted: 10 May 2011 Last Revised: 04 Sep 2012
Damjan Pfajfar and Blaz Zakelj
Board of Governors of the Federal Reserve System and Universitat Pompeu Fabra
Downloads 83 (406,839)
Citation 5

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Laboratory Experiments, Confidence Bounds, New Keynesian Model

7.

The Multiplier Effect of Education Expenditure

FEDS Working Paper No. 2020-58
Number of pages: 39 Posted: 25 Aug 2020
Maarten De Ridder, Simona Hannon and Damjan Pfajfar
University of Cambridge, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 77 (424,903)

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Are Consumer Expectations Theory-Consistent? The Role of Macroeconomic Determinants and Central Bank Communication

CentER Discussion Paper Series No. 2013-063
Number of pages: 35 Posted: 12 Nov 2013
Leibniz University Hannover, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 53 (520,368)
Citation 2

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Macroeconomic expectations, microdata, macroeconomic literacy, central bank communication, consumer forecast accuracy

Are Consumer Expectations Theory-Consistent? The Role of Macroeconomic Determinants and Central Bank Communication

KOF Working Papers No. 345
Number of pages: 36 Posted: 08 Nov 2013
Leibniz University Hannover, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 19 (733,770)
Citation 2

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Macroeconomic expectations, microdata, macroeconomic literacy, central bank communication, consumer forecast accuracy

9.

The Role of Expectations in Changed Inflation Dynamics

FEDS Working Paper No. 2018-62
Number of pages: 47 Posted: 17 Sep 2018 Last Revised: 21 Feb 2019
Damjan Pfajfar and John M. Roberts
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 69 (450,863)
Citation 1

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10.

News on Inflation and the Epidemiology of Inflation Expectations

European Banking Center Discussion Paper No. 2012-012, Center Discussion Paper Series No. 2012-048
Number of pages: 47 Posted: 16 Jun 2012
Damjan Pfajfar and Emiliano Santoro
Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 68 (454,269)
Citation 11

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Inflation, Survey Expectations, News, Information Stickiness

Loss Aversion and the Asymmetric Transmission of Monetary Policy

Univ. of Copenhagen Dept. of Economics Discussion Paper No. 12-21
Number of pages: 40 Posted: 16 Nov 2012
University of Trento - Department of Economics and Management, University of WarwickUniversity of Warwick - Warwick Business SchoolUniversity of Warwick - Finance Group, Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 62 (482,711)
Citation 1

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Asymmetry, Monetary Policy, Business Cycle, Prospect Theory

Loss Aversion and the Asymmetric Transmission of Monetary Policy

CEPR Discussion Paper No. DP10105
Number of pages: 55 Posted: 25 Sep 2014
University of Trento - Department of Economics and Management, University of WarwickUniversity of Warwick - Warwick Business SchoolUniversity of Warwick - Finance Group, Board of Governors of the Federal Reserve System and Catholic University of the Sacred Heart of Milan - Department of Economics
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Citation 7
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asymmetry, business cycle, monetary policy, prospect theory

When is the Fiscal Multiplier High? A Comparison of Four Business Cycle Phases

FEDS Working Paper No. 2020-26
Number of pages: 32 Posted: 18 May 2020 Last Revised: 09 Jul 2021
Travis J. Berge, Maarten De Ridder and Damjan Pfajfar
Board of Governors of the Federal Reserve System, University of Cambridge and Board of Governors of the Federal Reserve System
Downloads 47 (548,526)

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When is the Fiscal Multiplier High? A Comparison of Four Business Cycle Phases

Number of pages: 31 Posted: 13 Jan 2020
Travis J. Berge, Maarten De Ridder and Damjan Pfajfar
Board of Governors of the Federal Reserve System, University of Cambridge and Board of Governors of the Federal Reserve System
Downloads 14 (779,915)
Citation 1

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Fiscal multipliers, countercyclical policy, cross-sectional analysis, local projections

Inflation and Deflationary Biases in Inflation Expectations

BIS Working Paper No. 789
Number of pages: 53 Posted: 25 Jun 2019
University of EssexETH Zurich - KOF Swiss Economic Institute, Board of Governors of the Federal Reserve System and University of Maryland
Downloads 41 (579,797)

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inflation bias, deflationary bias, confidence in central banks, trust, effective lower bound, inflation expectations, microdata

Inflation and Deflationary Biases in Inflation Expectations

FEDS Working Paper No. 2019-42
Number of pages: 52 Posted: 25 Jul 2019 Last Revised: 21 Oct 2019
University of EssexETH Zurich - KOF Swiss Economic Institute, Board of Governors of the Federal Reserve System and University of Maryland
Downloads 17 (751,663)

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zero lower bound (ZLB), Confidence in Central Banks, Deflationary Bias, Inflation Bias, Inflation Expectations, Microdata

14.

Determinacy, Stock Market Dynamics and Monetary Policy Inertia

Univ. of Copenhagen Dept. of Economics Discussion Paper No. 08-30
Number of pages: 11 Posted: 29 Nov 2008
Damjan Pfajfar and Emiliano Santoro
Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 57 (495,233)

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monetary policy, asset prices, rational expectation equilibrium uniqueness

15.

Reference-Dependent Preferences and the Transmission of Monetary Policy

Center for Economic Studies, KU Leuven - Discussion Paper No. 10.28 , CentER Discussion Paper Series No. 2010-111, European Banking Center Discussion Paper No. 2010-28
Number of pages: 34 Posted: 14 Oct 2010 Last Revised: 15 Apr 2011
Universita degli Studi - Department of Economics, University of WarwickUniversity of Warwick - Warwick Business SchoolUniversity of Warwick - Finance Group, Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 52 (515,965)
Citation 1

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Reference-dependent Preferences, Asymmetry, Monetary policy

16.

Consumer Attitudes and the Epidemiology of Inflation Expectations

CentER Discussion Paper Series No. 2014-029
Number of pages: 36 Posted: 24 Apr 2014
Michael Ehrmann, Damjan Pfajfar and Emiliano Santoro
European Central Bank (ECB), Board of Governors of the Federal Reserve System and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 43 (557,680)
Citation 7

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Survey Infl‡ation Expectations; News on In‡flation; Information Stickiness; Consumer Attitudes.

17.

Inflation Expectations and Monetary Policy Design: Evidence from the Laboratory

FEDS Working Paper No. 2015-045, http://dx.doi.org/10.17016/FEDS.2015.045
Number of pages: 40 Posted: 10 Jul 2015
Damjan Pfajfar and Blaz Zakelj
Board of Governors of the Federal Reserve System and Universitat Pompeu Fabra
Downloads 40 (572,932)
Citation 4

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Inflation Expectations, Laboratory Experiments, Monetary Policy Design, New Keynesian Model

18.

Credit Frictions, Collateral and the Cyclical Behavior of the Finance Premium

Macroeconomic Dynamics, Vol. 18, No. 05, 2014
Number of pages: 19 Posted: 04 Jul 2015 Last Revised: 22 Sep 2016
University of Manchester, University of Manchester and Board of Governors of the Federal Reserve System
Downloads 39 (578,071)

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Credit Frictions; Business Cycles; Collateral; Finance Premium; DSGE

19.

Are Survey Expectations Theory-Consistent? The Role of Central Bank Communication and News

FEDS Working Paper No. 2015-035, http://dx.doi.org/10.17016/FEDS.2015.035
Number of pages: 48 Posted: 26 Jul 2015
Leibniz University Hannover, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 37 (588,825)

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Macroeconomic expectations,central bank communication,consumer forecast accuracy,macroeconomic literacy,monetary news,survey microdata

20.

The Hidden Heterogeneity of Inflation Expectations and its Implications

FEDS Working Paper No. 2020-54
Number of pages: 29 Posted: 16 Jul 2020
University of Hamburg, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 33 (611,804)

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21.

Formation of Rationally Heterogeneous Expectations

CentER Discussion Paper Series No. 2012-083
Number of pages: 39 Posted: 22 Oct 2012
Damjan Pfajfar
Board of Governors of the Federal Reserve System
Downloads 33 (611,804)
Citation 6

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heterogeneous expectations, cobweb model, adaptive learning, rational expectations

22.

Duration Dependence, Monetary Policy Asymmetries, and the Business Cycle

FEDS Working Paper No. 2019-20
Number of pages: 28 Posted: 28 Mar 2019
Travis J. Berge and Damjan Pfajfar
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 30 (630,233)

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23.

Pricing Decisions in an Experimental Dynamic Stochastic General Equilibrium Economy

FEDS Working Paper No. 2014-93
Number of pages: 27 Posted: 22 Nov 2014
Charles N. Noussair, Damjan Pfajfar and Janos Zsiros
Tilburg University, Board of Governors of the Federal Reserve System and Cornell University
Downloads 27 (650,038)
Citation 4

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Experimental economics, DSGE economy, pricing behavior, menu costs

24.

The Hidden Heterogeneity of Inflation and Interest Rate Expectations: The Role of Preferences

CESifo Working Paper No. 9637
Number of pages: 42 Posted: 07 Apr 2022
Lena Dräger, Michael J. Lamla and Damjan Pfajfar
Leibniz University Hannover, Leuphana University of Lueneburg and Board of Governors of the Federal Reserve System
Downloads 26 (657,104)

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macroeconomic expectations, monetary policy perceptions, inflation and interest rate preferences, risk preferences, survey microdata

25.

Reference-Dependent Preferences and the Transmission of Monetary Policy

Number of pages: 34 Posted: 11 Nov 2010
Università degli Studi di Udine - Department of Economics, University of WarwickUniversity of Warwick - Warwick Business SchoolUniversity of Warwick - Finance Group, Board of Governors of the Federal Reserve System and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 25 (664,274)
Citation 1

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Reference-dependent Preferences, Asymmetry, Monetary policy

26.

Latent Variables Analysis in Structural Models: A New Decomposition of the Kalman Smoother

FEDS Working Paper No. 2020-100
Number of pages: 38 Posted: 07 Dec 2020
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 13 (762,098)

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Kalman smoother, latent variables, Shock decomposition, Data decomposition, Double decomposition