Pedro Teles

Federal Reserve Bank of Chicago

230 South LaSalle Street

Chicago, IL 60604

United States

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

SCHOLARLY PAPERS

20

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1,039

SSRN CITATIONS
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Top 2,234

in Total Papers Citations

64

CROSSREF CITATIONS

427

Scholarly Papers (20)

1.
Downloads 133 (223,762)
Citation 15

Nominal Debt as a Burden on Monetary Policy

FRB of Chicago Working Paper No. 2004-10
Number of pages: 34 Posted: 05 Aug 2004
Universidad Carlos III de Madrid - Department of Economics, Università di Firenze, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Federal Reserve Bank of Chicago
Downloads 66 (356,845)
Citation 2

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Nominal debt, monetary policy, time-consistency, Markov-perfect

Nominal Debt as a Burden on Monetary Policy

UPF Economics and Business Working Paper 841
Number of pages: 26 Posted: 30 Nov 2005
Universidad Carlos III de Madrid - Department of Economics, Università di Firenze, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Federal Reserve Bank of Chicago
Downloads 42 (441,024)
Citation 2

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Time-consistency, Monetary Policy, Debt, Recursive Equilibrium

Nominal Debt as a Burden on Monetary Policy

NBER Working Paper No. w13677
Number of pages: 34 Posted: 21 Dec 2007 Last Revised: 28 Dec 2007
European University Institute, Universidad Carlos III de Madrid - Department of Economics, Università di Firenze and Federal Reserve Bank of Chicago
Downloads 22 (546,723)

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Nominal Debt as a Burden on Monetary Policy

CEPR Discussion Paper No. DP6595
Number of pages: 36 Posted: 09 Jun 2008
Universidad Carlos III de Madrid - Department of Economics, Università di Firenze, European University Institute and Federal Reserve Bank of Chicago
Downloads 3 (683,410)
Citation 1
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indexed debt, Markov-perfect equilibrium, nominal debt, optimal monetary policy, time consistency

Optimal Fiscal and Monetary Policy: Equivalence Results

FRB of Chicago Working Paper No. 2002-16
Number of pages: 41 Posted: 19 May 2003
Bank of Portugal - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 107 (264,026)
Citation 19

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Optimal Fiscal and Monetary Policy: Equivalence Results

CEPR Discussion Paper No. 3730
Number of pages: 36 Posted: 19 Feb 2003
Bank of Portugal - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 22 (546,723)
Citation 5
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Optimal fiscal and monetary policy, sticky prices

3.
Downloads 123 (237,521)
Citation 6

Is Quantity Theory Still Alive?

ECB Working Paper No. 1605
Number of pages: 31 Posted: 08 Nov 2013
Pedro Teles and Harald Uhlig
Federal Reserve Bank of Chicago and University of Chicago - Department of Economics
Downloads 67 (354,034)

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quantity theory, money demand, money demand elasticity, inflation targeting

Is Quantity Theory Still Alive?

NBER Working Paper No. w16393
Number of pages: 29 Posted: 27 Sep 2010 Last Revised: 17 Oct 2010
Pedro Teles and Harald Uhlig
Federal Reserve Bank of Chicago and University of Chicago - Department of Economics
Downloads 51 (405,956)

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Is Quantity Theory Still Alive?

CEPR Discussion Paper No. DP8049
Number of pages: 27 Posted: 22 Nov 2010
Pedro Teles and Harald Uhlig
Federal Reserve Bank of Chicago and University of Chicago - Department of Economics
Downloads 4 (674,633)
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Inflation, Money demand, Quantity Theory of Money

Is Quantity Theory Still Alive?

The Economic Journal, Vol. 126, Issue 591, pp. 442-464, 2016
Number of pages: 23 Posted: 07 Mar 2016
Federal Reserve Bank of Chicago, University of Chicago - Department of Economics and Vrije Universiteit Amsterdam, School of Business and Economics
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The Optimal Mix of Taxes on Money, Consumption and Income

ECB Working Paper No. 135, FRB Chicago Working Paper No. 2002-03
Number of pages: 34 Posted: 27 Feb 2003
Fiorella De Fiore and Pedro Teles
Bank for International Settlements (BIS) - Monetary and Economic Department and Federal Reserve Bank of Chicago
Downloads 88 (301,054)

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Friedman rule, inflation tax, transactions technology

The Optimal Mix of Taxes on Money, Consumption and Income

CEPR Discussion Paper No. 3437
Number of pages: 23 Posted: 20 Aug 2002
Fiorella De Fiore and Pedro Teles
Bank for International Settlements (BIS) - Monetary and Economic Department and Federal Reserve Bank of Chicago
Downloads 13 (608,219)
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Friedman rule, inflation tax, transactions technology

5.
Downloads 95 (284,480)
Citation 12

Inside-Outside Money Competition

FRB Chicago Working Paper No. 2003-09
Number of pages: 32 Posted: 07 Jan 2004
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 80 (319,611)

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Inside-Outside Money Competition

CEPR Discussion Paper No. 4039
Number of pages: 26 Posted: 22 Oct 2003
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 15 (593,950)
Citation 6
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Electronic money, inside money, currency competition, reputation, inflation

6.

The Optimal Price of Money

Number of pages: 11 Posted: 05 Aug 2003
Pedro Teles
Federal Reserve Bank of Chicago
Downloads 87 (300,797)

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Friedman rule, Inflation tax, Optimum Quantity of money

7.
Downloads 79 (318,916)
Citation 23

Gaps and Triangles

FRB of Chicago Working Paper No. 2001-13
Number of pages: 24 Posted: 27 Dec 2001
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 65 (359,830)
Citation 1

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optimal cyclical monetary policy, Friedman rule, prices set in advance

Gaps and Triangles

CEPR Discussion Paper No. 2668
Number of pages: 32 Posted: 28 Feb 2001
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 14 (601,139)
Citation 1
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Friedman Rule, Optimal Cyclical Monetary Policy, Prices Set in Advance

8.

Monetary Policy with State Contingent Interest Rates

FRB of Chicago Working Paper No. 2004-26
Number of pages: 27 Posted: 03 Jan 2005
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 54 (389,177)
Citation 1

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Monetary policy, policy instruments, sticky prices, state-contingent interest rates

9.
Downloads 47 (413,218)
Citation 18

Monetary Policy and the Financing of Firms

ECB Working Paper No. 1123
Number of pages: 50 Posted: 08 Dec 2009
Bank for International Settlements (BIS) - Monetary and Economic Department, Federal Reserve Bank of Chicago and European Central Bank (ECB)
Downloads 42 (441,024)

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Financial stability, debt deflation, bankruptcy costs, price level volatility, optimal monetary policy, stabilization policy

Monetary Policy and the Financing of Firms

CEPR Discussion Paper No. DP7419
Number of pages: 37 Posted: 08 Sep 2009
Bank for International Settlements (BIS) - Monetary and Economic Department, Federal Reserve Bank of Chicago and European Central Bank (ECB)
Downloads 5 (666,799)
Citation 3
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bankruptcy costs, debt deflation, Financial stability, optimal monetary policy, price level volatility, stabilization policy

10.

Monetary Policy with Single Instrument Feedback Rules

FRB of Chicago Working Paper No. 2004-30
Number of pages: 24 Posted: 05 Jan 2005
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 47 (413,218)
Citation 1

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Monetary policy, interest rate rules, unique equilibrium

11.
Downloads 31 (479,966)
Citation 68

Unconventional Fiscal Policy at the Zero Bound

NBER Working Paper No. w16758
Number of pages: 28 Posted: 07 Feb 2011
Bank of Portugal - Economic Research Department, Harvard University - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Minneapolis and Federal Reserve Bank of Chicago
Downloads 27 (514,930)

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Unconventional Fiscal Policy at the Zero Bound

CEPR Discussion Paper No. DP8193
Number of pages: 31 Posted: 31 Jan 2011
Bank of Portugal - Economic Research Department, Harvard University - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 4 (674,633)
Citation 11
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Fiscal policy, Monetary Policy, Sticky Prices, Zero Bound;

12.

Credit Subsidies

ECB Working Paper No. 1877
Number of pages: 48 Posted: 18 Jan 2016
Bank of Portugal - Department of Economics, Bank for International Settlements (BIS) - Monetary and Economic Department, Federal Reserve Bank of Chicago and European Central Bank (ECB)
Downloads 28 (495,173)

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credit policy, credit subsidies, monetary policy, zero-lower bound on nominal interest rates, banks, costly enforcement

13.
Downloads 27 (500,485)
Citation 3

Should Robots Be Taxed?

NBER Working Paper No. w23806
Number of pages: 73 Posted: 11 Sep 2017
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
Downloads 26 (521,044)

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Should Robots Be Taxed?

CEPR Discussion Paper No. DP12238
Number of pages: 47 Posted: 29 Aug 2017 Last Revised: 04 Sep 2017
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
Downloads 1 (707,970)
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automation, inequality, optimal taxation, robots.

14.

On the Relevance of Exchange Rate Regimes for Stabilization Policy

CEPR Discussion Paper No. 5797
Number of pages: 36 Posted: 10 Oct 2006
Bank of Portugal - Research Department, Bank of Portugal - Economic Research Department and Federal Reserve Bank of Chicago
Downloads 22 (529,277)
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Monetary union, fixed exchange rates, fiscal and monetary policy, stabilization policy, labour mobility, nominal rigidities

15.

Monetary Policy with Single Instrument Feedback Rules

CEPR Discussion Paper No. 4948
Number of pages: 21 Posted: 27 Jul 2005
Bank of Portugal - Research Department, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 21 (535,213)
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Monetary policy, interest rate rules, unique equilibrium

What is the Optimal Immigration Policy? Migration, Jobs and Welfare

NBER Working Paper No. w26154
Number of pages: 60 Posted: 20 Aug 2019
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
Downloads 7 (651,858)
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What is the Optimal Immigration Policy? Migration, Jobs and Welfare

CEPR Discussion Paper No. DP13909
Number of pages: 63 Posted: 20 Aug 2019
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
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Immigration, optimal taxation, redistribution, Welfare state

17.

Short and Long Interest Rate Targets

CEPR Discussion Paper No. DP7935
Number of pages: 24 Posted: 26 Jul 2010
Banco de Portugal, Bank of Portugal - Economic Research Department and Federal Reserve Bank of Chicago
Downloads 5 (638,372)
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long rates, Monetary policy, monetary policy instruments, multiplicity of equilibria, short rates, sticky prices, term structure

18.

Money is an Experience Good: Competition and Trust in the Private Provision of Money

CEPR Discussion Paper No. DP7418
Number of pages: 27 Posted: 08 Sep 2009
European University Institute, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 2 (662,853)
Citation 1
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Currency competition, Experience goods, Inflation, Trust

19.

Sovereign Default: The Role of Expectations

CEPR Discussion Paper No. DP12750
Number of pages: 16 Posted: 26 Feb 2018
Inter-American Development Bank (IDB), Board of Governors of the Federal Reserve System, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 1 (674,874)
Citation 3
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Sovereign default; multiple equilibria; good and bad times.

20.

Ramsey Taxation in the Global Economy

CEPR Discussion Paper No. DP12753
Number of pages: 32 Posted: 26 Feb 2018
V. Chari, Juan Pablo Nicolini and Pedro Teles
University of Minnesota - Minneapolis, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 0 (691,973)
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Capital income tax; free trade; value-added taxes; border adjustment; origin- and destination-based taxation; production e