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

  • Federal Reserve Bank of Chicago

    • Email
    • Tel: 312-322-2947
    • Fax: 312-322-2357
SCHOLARLY PAPERS

21

DOWNLOADS

1,405

SSRN CITATIONS
Rank 2,405

SSRN RANKINGS

Top 2,405

in Total Papers Citations

213

CROSSREF CITATIONS

424

Scholarly Papers (21)

Actions:
Email selected abstracts
1.

Nominal Debt as a Burden on Monetary Policy

Downloads 180 (266,699)
Citation 18

Nominal Debt as a Burden on Monetary Policy

Number of pages: 34 Posted: 05 Aug 2004
Javier Díaz Giménez, Giorgia Giovannetti, Ramon Marimon and Pedro Teles
Charles III University of Madrid - Department of Economics, Università di Firenze, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Federal Reserve Bank of Chicago
Downloads 82 (481,478)
Citation 2

Abstract:

Loading...

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
Javier Díaz Giménez, Giorgia Giovannetti, Ramon Marimon and Pedro Teles
Charles III University of Madrid - Department of Economics, Università di Firenze, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Federal Reserve Bank of Chicago
Downloads 58 (583,148)
Citation 2

Abstract:

Loading...

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: 16 Nov 2022
Ramon Marimon, Javier Díaz Giménez, Giorgia Giovannetti and Pedro Teles
European University Institute, Charles III University of Madrid - Department of Economics, Università di Firenze and Federal Reserve Bank of Chicago
Downloads 37 (707,058)

Abstract:

Loading...

Nominal Debt as a Burden on Monetary Policy

CEPR Discussion Paper No. DP6595
Number of pages: 36 Posted: 09 Jun 2008
Javier Díaz Giménez, Giorgia Giovannetti, Ramon Marimon and Pedro Teles
Charles III University of Madrid - Department of Economics, Università di Firenze, European University Institute and Federal Reserve Bank of Chicago
Downloads 3 (1,002,311)
Citation 3
  • Add to Cart

Abstract:

Loading...

indexed debt, Markov-perfect equilibrium, nominal debt, optimal monetary policy, time consistency

2.

Is Quantity Theory Still Alive?

Downloads 173 (276,164)
Citation 11

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 96 (435,406)

Abstract:

Loading...

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 Apr 2023
Pedro Teles and Harald Uhlig
Federal Reserve Bank of Chicago and University of Chicago - Department of Economics
Downloads 73 (515,591)

Abstract:

Loading...

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 (994,136)
Citation 2
  • Add to Cart

Abstract:

Loading...

Inflation, Money demand, Quantity Theory of Money

3.

Optimal Fiscal and Monetary Policy: Equivalence Results

Downloads 149 (313,034)
Citation 77

Optimal Fiscal and Monetary Policy: Equivalence Results

FRB of Chicago Working Paper No. 2002-16
Number of pages: 41 Posted: 19 May 2003
Isabel H. Correia, Juan Pablo Nicolini and Pedro Teles
Bank of Portugal - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 127 (355,589)
Citation 22

Abstract:

Loading...

Optimal Fiscal and Monetary Policy: Equivalence Results

Number of pages: 36 Posted: 19 Feb 2003
Isabel H. Correia, Juan Pablo Nicolini and Pedro Teles
Bank of Portugal - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 22 (825,139)
Citation 26
  • Add to Cart

Abstract:

Loading...

Optimal fiscal and monetary policy, sticky prices

4.

The Optimal Mix of Taxes on Money, Consumption and Income

Downloads 114 (383,411)
Citation 6

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 101 (420,635)

Abstract:

Loading...

Friedman rule, inflation tax, transactions technology

The Optimal Mix of Taxes on Money, Consumption and Income

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 (909,636)
  • Add to Cart

Abstract:

Loading...

Friedman rule, inflation tax, transactions technology

5.

Inside-Outside Money Competition

Downloads 113 (385,858)
Citation 10

Inside-Outside Money Competition

FRB Chicago Working Paper No. 2003-09
Number of pages: 32 Posted: 07 Jan 2004
Ramon Marimon, Juan Pablo Nicolini and Pedro Teles
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 98 (429,567)

Abstract:

Loading...

Inside-Outside Money Competition

Number of pages: 26 Posted: 22 Oct 2003
Ramon Marimon, Juan Pablo Nicolini and Pedro Teles
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 15 (890,333)
Citation 5
  • Add to Cart

Abstract:

Loading...

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 107 (401,165)

Abstract:

Loading...

Friedman rule, Inflation tax, Optimum Quantity of money

7.

Monetary Policy and the Financing of Firms

Downloads 95 (435,053)
Citation 23

Monetary Policy and the Financing of Firms

ECB Working Paper No. 1123
Number of pages: 50 Posted: 08 Dec 2009
Fiorella De Fiore, Pedro Teles and Oreste Tristani
Bank for International Settlements (BIS) - Monetary and Economic Department, Federal Reserve Bank of Chicago and European Central Bank (ECB)
Downloads 90 (454,164)

Abstract:

Loading...

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
Fiorella De Fiore, Pedro Teles and Oreste Tristani
Bank for International Settlements (BIS) - Monetary and Economic Department, Federal Reserve Bank of Chicago and European Central Bank (ECB)
Downloads 5 (985,445)
Citation 9
  • Add to Cart

Abstract:

Loading...

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

8.

Gaps and Triangles

Downloads 88 (456,465)
Citation 25

Gaps and Triangles

Number of pages: 24 Posted: 27 Dec 2001
Bernardino Adão, Isabel H. Correia and Pedro Teles
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 74 (511,607)
Citation 3

Abstract:

Loading...

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

Gaps and Triangles

Number of pages: 32 Posted: 28 Feb 2001
Bernardino Adão, Isabel H. Correia and Pedro Teles
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 14 (900,026)
Citation 1
  • Add to Cart

Abstract:

Loading...

Friedman Rule, Optimal Cyclical Monetary Policy, Prices Set in Advance

9.

Should Robots Be Taxed?

Downloads 83 (473,167)
Citation 10

Should Robots Be Taxed?

NBER Working Paper No. w23806
Number of pages: 88 Posted: 11 Sep 2017 Last Revised: 18 Jan 2023
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
Downloads 82 (481,478)

Abstract:

Loading...

Should Robots Be Taxed?

CEPR Discussion Paper No. DP12238
Number of pages: 90 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 (1,018,789)
Citation 2
  • Add to Cart

Abstract:

Loading...

10.

Monetary Policy with State Contingent Interest Rates

Number of pages: 27 Posted: 03 Jan 2005
Bernardino Adão, Isabel H. Correia and Pedro Teles
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 69 (525,226)
Citation 1

Abstract:

Loading...

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

11.

Monetary Policy with Single Instrument Feedback Rules

Number of pages: 24 Posted: 05 Jan 2005
Bernardino Adão, Isabel H. Correia and Pedro Teles
Banco de Portugal, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 59 (568,686)
Citation 2

Abstract:

Loading...

Monetary policy, interest rate rules, unique equilibrium

12.

Credit Subsidies

ECB Working Paper No. 1877
Number of pages: 48 Posted: 18 Jan 2016
Isabel H. Correia, Fiorella De Fiore, Pedro Teles and Oreste Tristani
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 52 (602,893)

Abstract:

Loading...

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

13.

Unconventional Fiscal Policy at the Zero Bound

Downloads 47 (629,427)
Citation 96

Unconventional Fiscal Policy at the Zero Bound

NBER Working Paper No. w16758
Number of pages: 28 Posted: 07 Feb 2011 Last Revised: 17 Apr 2022
Maria Isabel Horta Correia, Emmanuel Farhi, Juan Pablo Nicolini and Pedro Teles
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 43 (667,379)
Citation 2

Abstract:

Loading...

Unconventional Fiscal Policy at the Zero Bound

CEPR Discussion Paper No. DP8193
Number of pages: 31 Posted: 31 Jan 2011
Maria Isabel Horta Correia, Emmanuel Farhi, Juan Pablo Nicolini and Pedro Teles
Bank of Portugal - Economic Research Department, Harvard University - Department of Economics, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 4 (994,136)
Citation 43
  • Add to Cart

Abstract:

Loading...

Fiscal policy, Monetary Policy, Sticky Prices, Zero Bound;

14.

On the Relevance of Exchange Rate Regimes for Stabilization Policy

CEPR Discussion Paper No. 5797
Number of pages: 36 Posted: 10 Oct 2006
Bernardino Adao, Maria Isabel Horta Correia and Pedro Teles
Bank of Portugal - Research Department, Bank of Portugal - Economic Research Department and Federal Reserve Bank of Chicago
Downloads 22 (798,775)
Citation 2
  • Add to Cart

Abstract:

Loading...

Monetary union, fixed exchange rates, fiscal and monetary policy, stabilization policy, labour mobility, nominal rigidities

15.

Monetary Policy with Single Instrument Feedback Rules

Number of pages: 21 Posted: 27 Jul 2005
Bernardino Adao, Isabel H. Correia and Pedro Teles
Bank of Portugal - Research Department, Bank of Portugal - Department of Economics and Federal Reserve Bank of Chicago
Downloads 21 (807,128)
  • Add to Cart

Abstract:

Loading...

Monetary policy, interest rate rules, unique equilibrium

16.

Self-Fulfilling Debt Crises with Long Stagnations

International Finance Discussion Paper No. 1370
Number of pages: 61 Posted: 05 May 2023
Ayres, Gaston Navarro, Juan Pablo Nicolini and Pedro Teles
Inter-American Development Bank (IDB), Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Minneapolis and Federal Reserve Bank of Chicago
Downloads 15 (859,943)

Abstract:

Loading...

Self-fulfilling debt crises, Sovereign default, Multiplicity, Stagnations

17.

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

Downloads 10 (905,651)
Citation 5

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

NBER Working Paper No. w26154
Number of pages: 60 Posted: 20 Aug 2019 Last Revised: 19 Jun 2022
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
Downloads 10 (938,925)

Abstract:

Loading...

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

CEPR Discussion Paper No. DP13909
Number of pages: 62 Posted: 20 Aug 2019 Last Revised: 02 Mar 2020
Joao Guerreiro, Sergio T. Rebelo and Pedro Teles
Northwestern University, Northwestern University - Kellogg School of Management and Federal Reserve Bank of Chicago
Downloads 0
Citation 4
  • Add to Cart

Abstract:

Loading...

Immigration, optimal taxation, redistribution, Welfare state

18.

Short and Long Interest Rate Targets

CEPR Discussion Paper No. DP7935
Number of pages: 24 Posted: 26 Jul 2010
Bernardino Adão, Maria Isabel Horta Correia and Pedro Teles
Banco de Portugal, Bank of Portugal - Economic Research Department and Federal Reserve Bank of Chicago
Downloads 5 (948,418)
  • Add to Cart

Abstract:

Loading...

long rates, Monetary policy, monetary policy instruments, multiplicity of equilibria, short rates, sticky prices, term structure

19.

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
Ramon Marimon, Juan Pablo Nicolini and Pedro Teles
European University Institute, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 2 (970,200)
Citation 1
  • Add to Cart

Abstract:

Loading...

Currency competition, Experience goods, Inflation, Trust

20.

Sovereign Default: The Role of Expectations

CEPR Discussion Paper No. DP12750
Number of pages: 16 Posted: 26 Feb 2018
Ayres, Gaston Navarro, Juan Pablo Nicolini and Pedro Teles
Inter-American Development Bank (IDB), Board of Governors of the Federal Reserve System, Universitat Pompeu Fabra and Federal Reserve Bank of Chicago
Downloads 1 (977,347)
Citation 5
  • Add to Cart

Abstract:

Loading...

Sovereign default; multiple equilibria; good and bad times.

21.

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 (985,300)
Citation 1
  • Add to Cart

Abstract:

Loading...

Capital income tax; free trade; value-added taxes; border adjustment; origin- and destination-based taxation; production e