Damjan Pfajfar

Federal Reserve Bank of Cleveland

East 6th & Superior

Cleveland, OH 44101-1387

United States

SCHOLARLY PAPERS

30

DOWNLOADS
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SSRN RANKINGS

Top 25,910

in Total Papers Downloads

4,005

TOTAL CITATIONS
Rank 7,753

SSRN RANKINGS

Top 7,753

in Total Papers Citations

112

Scholarly Papers (30)

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), Federal Reserve Bank of Cleveland and University of Copenhagen - Department of Economics
Downloads 1,012 (45,685)
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 Federal Reserve Bank of Cleveland
Downloads 324 (187,786)
Citation 8

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Financial Intermediation, DSGE models, Financial Frictions

3.

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 Federal Reserve Bank of Cleveland
Downloads 216 (282,715)

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4.

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
Federal Reserve Bank of Cleveland and Universitat Pompeu Fabra
Downloads 214 (285,247)
Citation 23

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

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, Federal Reserve Bank of Cleveland and University of Maryland
Downloads 174 (343,935)

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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, Federal Reserve Bank of Cleveland and University of Maryland
Downloads 37 (888,478)
Citation 1

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

6.

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
Federal Reserve Bank of Cleveland and Board of Governors of the Federal Reserve System
Downloads 154 (382,285)
Citation 9

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7.

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
Federal Reserve Bank of Cleveland and University of Copenhagen - Department of Economics
Downloads 144 (403,902)
Citation 11

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Inflation, Survey Expectations, News, Information Stickiness

8.

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
Federal Reserve Bank of Cleveland and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 143 (406,157)
Citation 4

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

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 Federal Reserve Bank of Cleveland
Downloads 92 (567,401)
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 Federal Reserve Bank of Cleveland
Downloads 46 (816,115)
Citation 2

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

10.

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, Federal Reserve Bank of Cleveland and Cornell University
Downloads 128 (443,052)
Citation 7

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Experimental Economics, DSGE economy, Monetary Policy, Menu costs

11.

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

CESifo Working Paper No. 9637
Number of pages: 26 Posted: 07 Apr 2022
Lena Dräger, Michael J. Lamla and Damjan Pfajfar
Leibniz University Hannover, Leuphana University of Lueneburg and Federal Reserve Bank of Cleveland
Downloads 114 (483,937)

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

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 Federal Reserve Bank of Cleveland
Downloads 66 (688,903)

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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 Federal Reserve Bank of Cleveland
Downloads 43 (839,084)
Citation 1

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

13.

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), Federal Reserve Bank of Cleveland and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 109 (500,076)
Citation 7

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

14.

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
Federal Reserve Bank of Cleveland and Universitat Pompeu Fabra
Downloads 107 (506,894)
Citation 5

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Laboratory Experiments, Confidence Bounds, New Keynesian Model

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, Federal Reserve Bank of Cleveland and University of Copenhagen - Department of Economics
Downloads 87 (588,171)
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, Federal Reserve Bank of Cleveland and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 3 (1,274,923)
Citation 7
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asymmetry, business cycle, monetary policy, prospect theory

16.

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
Federal Reserve Bank of Cleveland and University of Copenhagen - Department of Economics
Downloads 79 (615,275)

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monetary policy, asset prices, rational expectation equilibrium uniqueness

17.

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 Federal Reserve Bank of Cleveland
Downloads 76 (628,400)

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18.

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, Federal Reserve Bank of Cleveland and University of Copenhagen - Department of Economics
Downloads 76 (628,400)
Citation 1

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Reference-dependent Preferences, Asymmetry, Monetary policy

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 Federal Reserve Bank of Cleveland
Downloads 69 (661,545)

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

20.

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
Federal Reserve Bank of Cleveland and Universitat Pompeu Fabra
Downloads 67 (671,463)
Citation 4

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

21.

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
The University of Manchester, The University of Manchester and Federal Reserve Bank of Cleveland
Downloads 66 (676,622)

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

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 Federal Reserve Bank of Cleveland
Downloads 57 (725,513)

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23.

How to Limit the Spillover from an Inflation Surge to Inflation Expectations?

CESifo Working Paper No. 10330
Number of pages: 61 Posted: 29 Mar 2023
Lena Dräger, Michael J. Lamla and Damjan Pfajfar
Leibniz University Hannover, University of Duisburg-Essen and Federal Reserve Bank of Cleveland
Downloads 56 (731,594)

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short-run and long-run inflation expectations, inflation surge, randomized control trial, survey experiment, persistent or transitory inflation shock

24.

Formation of Rationally Heterogeneous Expectations

CentER Discussion Paper Series No. 2012-083
Number of pages: 39 Posted: 22 Oct 2012
Damjan Pfajfar
Federal Reserve Bank of Cleveland
Downloads 52 (756,320)
Citation 6

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heterogeneous expectations, cobweb model, adaptive learning, rational expectations

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, Federal Reserve Bank of Cleveland and Catholic University of the Sacred Heart of Milan - Department of Economics
Downloads 49 (775,736)
Citation 1

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Reference-dependent Preferences, Asymmetry, Monetary policy

26.

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, Federal Reserve Bank of Cleveland and Cornell University
Downloads 46 (796,430)
Citation 4

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Experimental economics, DSGE economy, pricing behavior, menu costs

27.

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 Federal Reserve Bank of Cleveland
Downloads 29 (936,057)

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

28.

Households' Preferences Over Inflation and Monetary Policy Tradeoffs

FEDS Working Paper No. 2024-36
Number of pages: 37 Posted: 11 Jun 2024
Damjan Pfajfar and Fabian Winkler
Federal Reserve Bank of Cleveland and Board of Governors of the Federal Reserve System
Downloads 27 (955,461)

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Household Survey, Attention, Inflation Target, Sacrifice Ratio, Dual Mandate

29.

Endogenous Labor Supply in an Estimated New-Keynesian Model: Nominal Versus Real Rigidities

FEDS Working Paper No. 2023-69
Number of pages: 59 Posted: 14 Nov 2023
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, 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 Federal Reserve Bank of Cleveland
Downloads 27 (955,461)

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Search and matching, Labor supply, Labor force participation, Missing disinflation, Great recession

30.

Inflation and Deflationary Biases in the Distribution of Inflation Expectations: Theory and Empirical Evidence from Nine Countries

FRB of Cleveland Working Paper No. 24-26, https://doi.org/10.26509/frbc-wp-202426
Number of pages: 80 Posted: 21 Nov 2024
Michael J. Lamla, Damjan Pfajfar and Lea Rendell
University of Duisburg-Essen, Federal Reserve Bank of Cleveland and University of Maryland, College Park
Downloads 16 (1,075,637)

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