Damjan Pfajfar

Board of Governors of the Federal Reserve System

Principal Economist

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

  • Board of Governors of the Federal Reserve System

SCHOLARLY PAPERS

28

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2,921

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Top 8,255

in Total Papers Citations

124

CROSSREF CITATIONS

67

Scholarly Papers (28)

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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 656 (70,141)
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 276 (190,493)
Citation 6

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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 194 (266,831)
Citation 23

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

4.

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 129 (374,567)

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5.

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 122 (390,688)
Citation 4

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

6.

Inflation and Deflationary Biases in Inflation Expectations

Downloads 120 (395,466)
Citation 1

Inflation and Deflationary Biases in Inflation Expectations

BIS Working Paper No. 789
Number of pages: 53 Posted: 25 Jun 2019
Michael J. Lamla, Michael J. Lamla, Damjan Pfajfar and Lea Rendell
University of EssexETH Zurich - KOF Swiss Economic Institute, Board of Governors of the Federal Reserve System and University of Maryland
Downloads 90 (486,705)

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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
Michael J. Lamla, Michael J. Lamla, Damjan Pfajfar and Lea Rendell
University of EssexETH Zurich - KOF Swiss Economic Institute, Board of Governors of the Federal Reserve System and University of Maryland
Downloads 30 (817,860)
Citation 1

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

7.

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 115 (407,904)
Citation 8

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8.

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 113 (413,132)
Citation 7

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Experimental Economics, DSGE economy, Monetary Policy, Menu costs

9.

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

Downloads 112 (415,839)
Citation 2

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
Lena Dräger, Michael J. Lamla, Michael J. Lamla and Damjan Pfajfar
Leibniz University Hannover, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 73 (553,342)
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
Lena Dräger, Michael J. Lamla, Michael J. Lamla and Damjan Pfajfar
Leibniz University Hannover, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 39 (746,313)
Citation 2

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

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 100 (450,834)
Citation 11

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Inflation, Survey Expectations, News, Information Stickiness

11.

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 97 (459,871)
Citation 5

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Laboratory Experiments, Confidence Bounds, New Keynesian Model

12.

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

Downloads 84 (503,474)
Citation 1

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 52 (660,312)

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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 32 (801,021)
Citation 1

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

13.

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 Board of Governors of the Federal Reserve System
Downloads 80 (518,282)

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

14.

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 79 (522,120)
Citation 7

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

15.

Loss Aversion and the Asymmetric Transmission of Monetary Policy

Downloads 77 (530,043)
Citation 29

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
Edoardo Gaffeo, Ivan Petrella, Ivan Petrella, Ivan Petrella, Damjan Pfajfar and Emiliano Santoro
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 77 (536,263)
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
Edoardo Gaffeo, Ivan Petrella, Ivan Petrella, Ivan Petrella, Damjan Pfajfar and Emiliano Santoro
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

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
Board of Governors of the Federal Reserve System and University of Copenhagen - Department of Economics
Downloads 69 (563,317)

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monetary policy, asset prices, rational expectation equilibrium uniqueness

17.

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
Edoardo Gaffeo, Ivan Petrella, Ivan Petrella, Ivan Petrella, Damjan Pfajfar and Emiliano Santoro
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 64 (585,854)
Citation 1

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Reference-dependent Preferences, Asymmetry, Monetary policy

18.

The Hidden Heterogeneity of Inflation Expectations and its Implications

FEDS Working Paper No. 2020-54
Number of pages: 29 Posted: 16 Jul 2020
Lena Drager, Michael J. Lamla, Michael J. Lamla and Damjan Pfajfar
University of Hamburg, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 56 (625,456)

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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
Lena Dräger, Michael J. Lamla, Michael J. Lamla and Damjan Pfajfar
Leibniz University Hannover, University of EssexETH Zurich - KOF Swiss Economic Institute and Board of Governors of the Federal Reserve System
Downloads 54 (636,153)

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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
Board of Governors of the Federal Reserve System and Universitat Pompeu Fabra
Downloads 54 (636,153)
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
Pierre-Richard Agnor, George J. Bratsiotis and Damjan Pfajfar
The University of Manchester, The University of Manchester and Board of Governors of the Federal Reserve System
Downloads 51 (652,741)

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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 Board of Governors of the Federal Reserve System
Downloads 47 (681,983)

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23.

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 41 (714,118)
Citation 6

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heterogeneous expectations, cobweb model, adaptive learning, rational expectations

24.

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 36 (749,009)
Citation 4

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Experimental economics, DSGE economy, pricing behavior, menu costs

25.

Reference-Dependent Preferences and the Transmission of Monetary Policy

Number of pages: 34 Posted: 11 Nov 2010
Edoardo Gaffeo, Ivan Petrella, Ivan Petrella, Ivan Petrella, Damjan Pfajfar and Emiliano Santoro
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 36 (749,009)
Citation 1

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Reference-dependent Preferences, Asymmetry, Monetary policy

26.

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 Board of Governors of the Federal Reserve System
Downloads 31 (786,803)

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

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
Hess T. Chung, Cristina Fuentes-Albero, Matthias O. Paustian and Damjan Pfajfar
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 21 (872,412)

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

28.

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
Isabel Cairo, Hess T. Chung, Francesco Ferrante, Cristina Fuentes-Albero, Camilo Morales-Jimenez and Damjan Pfajfar
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 Board of Governors of the Federal Reserve System
Downloads 7 (1,005,660)

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