Sebastian Schmidt

European Central Bank (ECB)

Sonnemannstrasse 22

Frankfurt am Main, 60314

Germany

SCHOLARLY PAPERS

16

DOWNLOADS

825

SSRN CITATIONS
Rank 8,776

SSRN RANKINGS

Top 8,776

in Total Papers Citations

74

CROSSREF CITATIONS

56

Scholarly Papers (16)

1.

Comparing Fiscal Multipliers Across Models and Countries in Europe

ECB Working Paper No. 1760
Number of pages: 48 Posted: 12 Mar 2015
Bank of Finland - Research, Bank of Italy, European Central Bank (ECB), Sveriges Riksbank - Monetary Policy, Czech National Bank, Goethe University Frankfurt, Banco de España, Bank of Portugal, Bank of Estonia, Banque de France, Central Bank of Ireland, Sveriges Riksbank, Bank of Portugal, Central Bank of Malta - Modelling and Research Office, Bank of Greece, Czech National Bank (CNB), Bank of Greece, Banco de España and Facultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences
Downloads 122 (249,315)
Citation 2

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fiscal policy, output multipliers, model comparison, zero lower bound

The Risky Steady State and the Interest Rate Lower Bound

ECB Working Paper No. 1913
Number of pages: 55 Posted: 19 Jun 2016
Timothy Hills, Taisuke Nakata and Sebastian Schmidt
New York University (NYU), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 80 (333,104)

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deflationary bias, disinflation, inflation targeting, risky steady state, tail risk

The Risky Steady State and the Interest Rate Lower Bound

FEDS Working Paper No. 2016-9
Number of pages: 52 Posted: 15 Feb 2016
Timothy Hills, Taisuke Nakata and Sebastian Schmidt
New York University (NYU), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 36 (486,587)
Citation 2

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Deflationary Bias, Disinflation, Inflation Targeting, Risky Steady State, Tail Risk, Zero Lower Bound

3.
Downloads 116 (258,858)
Citation 14

Conservatism and Liquidity Traps

ECB Working Paper No. 1816
Number of pages: 49 Posted: 23 Jun 2015
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 49 (430,247)

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Deflationary Bias; Inflation Conservatism; Inflation Targeting; Liquidity Traps; Zero Lower Bound

Conservatism and Liquidity Traps

FEDS Working Paper No. 2014-105
Number of pages: 46 Posted: 09 Jan 2015
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 38 (477,092)
Citation 6

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Discretion, inflation conservatism, inflation targeting, liquidity traps, zero lower bound

Conservatism and Liquidity Traps

Tokyo Center for Economic Research (TCER) Paper No. E-101
Number of pages: 48 Posted: 27 Nov 2015
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 29 (523,681)
Citation 6

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Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe's Monetary Union

ECB Working Paper No. 1988
Number of pages: 28 Posted: 03 Feb 2017
University of Cambridge, Bank of Italy, European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 85 (320,943)
Citation 1

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Lower Bound on Nominal Interest Rates, Self-fulfilling Sovereign Default, Eurobond, Government Bonds, Joint Analysis of Fiscal and Monetary Policy

Macroeconomic Stabilization, Monetary-Fiscal Interactions, and Europe's Monetary Union

CEPR Discussion Paper No. DP12371
Number of pages: 27 Posted: 16 Oct 2017
University of Cambridge, Bank of Italy, European Central Bank (ECB), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 1 (736,465)
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eurobond, Government bonds, Joint Analysis of Fiscal and Monetary Policy, Lower Bound on Nominal Interest Rates, Self-Fulfilling Sovereign Default

5.

Dealing with a Liquidity Trap When Government Debt Matters: Optimal Time-Consistent Monetary and Fiscal Policy

ECB Working Paper No. 1622
Number of pages: 37 Posted: 03 Jan 2014
Matthias Burgert and Sebastian Schmidt
European Union - Directorate General for Economic and Financial Affairs (DG ECFIN) and European Central Bank (ECB)
Downloads 52 (412,101)

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Monetary and fiscal policy, Deficit spending, Discretion, Zero nominal interest rate bound, New Keynesian model

Expectations-Driven Liquidity Traps: Implications for Monetary and Fiscal Policy

ECB Working Paper No. 2304
Number of pages: 54 Posted: 01 Aug 2019
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 34 (496,540)
Citation 1

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discretion, effective lower bound, fiscal policy, monetary policy, policy delegation, sunspot equilibria

Expectations-Driven Liquidity Traps: Implications for Monetary and Fiscal Policy

FEDS Working Paper No. 2019-053
Number of pages: 50 Posted: 25 Jul 2019 Last Revised: 21 Oct 2019
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 9 (662,940)

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Effective Lower Bound, Sunspot Equilibria, Monetary Policy, Fiscal Policy, Discretion, Policy Delegation

7.

The New Area-Wide Model II: An Extended Version of the ECB’s Micro-Founded Model for Forecasting and Policy Analysis with a Financial Sector

ECB Working Paper No. 2200
Number of pages: 136 Posted: 20 Nov 2018
Günter Coenen, Peter Karadi, Sebastian Schmidt and Anders Warne
European Central Bank (ECB), European Central Bank (ECB) - Directorate General Research, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 41 (454,103)
Citation 9

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DSGE modelling, Bayesian inference, financial frictions, forecasting, policy analysis, euro area

8.
Downloads 41 (454,103)
Citation 1

The Risk-Adjusted Monetary Policy Rule

ECB Working Paper No. 1985
Number of pages: 24 Posted: 03 Feb 2017
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 24 (555,130)

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effective lower bound, inflation targeting, monetary policy rule, risk, risky steady state

The Risk-Adjusted Monetary Policy Rule

FEDS Working Paper No. 2016-061
Number of pages: 22 Posted: 10 Aug 2016
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 17 (603,646)

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Effective Lower Bound, Inflation Targeting, Monetary Policy Rule, Risk, Risky Steady State

Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy

ECB Working Paper No. 2220
Number of pages: 47 Posted: 14 Jan 2019
Taisuke Nakata, Ryota Ogaki, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, University of Tokyo, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 19 (589,400)
Citation 3

Abstract:

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forward guidance, optimal policy, discounted euler equation, discounted phillips curve, effective lower bound

Attenuating the Forward Guidance Puzzle: Implications for Optimal Monetary Policy

FEDS Working Paper No. 2018-049
Number of pages: 45 Posted: 23 Jul 2018 Last Revised: 21 Feb 2019
Taisuke Nakata, Ryota Ogaki, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, University of Tokyo, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 18 (596,502)
Citation 1

Abstract:

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Discounted euler equation, Discounted phillips curve, Effective lower bound, Forward guidance, Optimal policy

10.

Lack of Confidence, the Zero Lower Bound, and the Virtue of Fiscal Rules

ECB Working Paper No. 1795
Number of pages: 17 Posted: 24 Jun 2015
Sebastian Schmidt
European Central Bank (ECB)
Downloads 32 (494,527)
Citation 2

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government spending; liquidity trap; multiple equilibria; Ricardian fiscal policy; sunspots

11.

Fiscal Activism and the Zero Nominal Interest Rate Bound

ECB Working Paper No. 1653
Number of pages: 26 Posted: 20 Mar 2014
Sebastian Schmidt
European Central Bank (ECB)
Downloads 32 (494,527)
Citation 1

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monetary policy, fiscal policy, discretion, zero nominal interest rate bound

Speed Limit Policy and Liquidity Traps

ECB Working Paper No. 2192
Number of pages: 30 Posted: 02 Nov 2018
Taisuke Nakata, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 15 (617,853)

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liquidity traps, Markov-Perfect Equilibrium, speed limit policy, zero lower bound

Speed Limit Policy and Liquidity Traps

FEDS Working Paper No. 2018-050
Number of pages: 28 Posted: 23 Jul 2018 Last Revised: 21 Feb 2019
Taisuke Nakata, Sebastian Schmidt and Paul Yoo
Board of Governors of the Federal Reserve System, European Central Bank (ECB) and University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School
Downloads 13 (632,680)

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Liquidity traps, Markov-perfect equilibrium, Speed limit policy, Zero lower bound

13.

Time-Consistent Monetary Policy, Terms of Trade Manipulation and Welfare in Open Economies

ECB Working Paper No. 2128
Number of pages: 48 Posted: 07 Feb 2018
Sebastian Schmidt
European Central Bank (ECB)
Downloads 22 (550,784)

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small open economy, optimal monetary policy, discretion, delegation, terms of trade externality

14.
Downloads 21 (556,973)
Citation 8

Gradualism and Liquidity Traps

ECB Working Paper No. 1976
Number of pages: 31 Posted: 03 Feb 2017
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 16 (610,567)

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gradualism, inflation targeting, interest-rate smoothing, liquidity traps, zero lower bound

Gradualism and Liquidity Traps

FEDS Working Paper No. 2016-092
Number of pages: 30 Posted: 21 Nov 2016
Taisuke Nakata and Sebastian Schmidt
Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 5 (693,840)
Citation 7

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Gradualism, Inflation Targeting, Interest-Rate Smoothing, Liquidity Traps, Zero Lower Bound

Average Inflation Targeting and the Interest Rate Lower Bound

BIS Working Paper No. 852
Number of pages: 29 Posted: 15 Apr 2020
Flora Budianto, Taisuke Nakata and Sebastian Schmidt
Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 12 (640,416)

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monetary policy objectives, makeup strategies, liquidity trap, deflationary bias, expectations

Average Inflation Targeting and the Interest Rate Lower Bound

ECB Working Paper No. 2394
Number of pages: 31 Posted: 20 Apr 2020
Taisuke Nakata, Sebastian Schmidt and Flora Budianto
Board of Governors of the Federal Reserve System, European Central Bank (ECB) and Bank for International Settlements (BIS)
Downloads 5 (693,840)

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deflationary bias, expectations, liquidity trap, makeup strategies, monetary policy objectives

Average Inflation Targeting and the Interest Rate Lower Bound

CEPR Discussion Paper No. DP14400
Number of pages: 24 Posted: 03 Mar 2020
Flora Budianto, Taisuke Nakata and Sebastian Schmidt
Bank for International Settlements (BIS), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 1 (736,465)
Citation 2
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Average Inflation Targeting, Deflationary Bias, liquidity trap, Makeup Strategies, Monetary Policy Objectives

16.

Effective Lower Bound Risk

FEDS Working Paper No. 2019-077
Number of pages: 63 Posted: 27 Nov 2019
Timothy Hills, Taisuke Nakata and Sebastian Schmidt
New York University (NYU), Board of Governors of the Federal Reserve System and European Central Bank (ECB)
Downloads 18 (576,062)
Citation 3

Abstract:

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Deflationary Bias, Disinflation, Effective Lower Bound, Inflation Targeting, Risky Steady State, Tail Risk