Klaus Adam

University of Mannheim

Professor of Economics

Department of Economics

L7 ,3-5

Mannheim, 68131

Germany

http://adam.vwl.uni-mannheim.de/1528.0.html

European Central Bank (ECB) - Department of Research

Sonnemannstrasse 22

Frankfurt am Main, 60314

Germany

Centre for Economic Policy Research (CEPR)

Research Affiliate

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

SCHOLARLY PAPERS

25

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CITATIONS
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245

Scholarly Papers (25)

Optimal Monetary Policy Under Commitment with a Zero Bound on Nominal Interest Rates

ECB Working Paper No. 377; University of Frankfurt Mimeo
Number of pages: 55 Posted: 09 Dec 2004
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 236 (108,724)
Citation 42

Abstract:

Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates

FRB of Kansas City Working Paper No. 05-07
Number of pages: 41 Posted: 24 Jan 2006
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 135 (181,252)
Citation 42

Abstract:

Nonlinear Optimal Policy, Zero Interest Rate Bound, Commitment, Liquidity Trap, New Keynesian

Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates

CEPR Discussion Paper No. 4111
Number of pages: 36 Posted: 18 Dec 2003
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 13 (508,176)
Citation 42
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Abstract:

Non-linear optimal policy, zero interest rate bound, commitment, liquidity trap, new Keynesian

Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates

Journal of Money Credit and Banking, Forthcoming
Posted: 27 Oct 2005
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank

Abstract:

Nonlinear optimal policy, zero interest rate bound, commitment, liquidity trap, New Keynesian

2.
Downloads 314 ( 80,159)
Citation 16

Stock Market Volatility and Learning

ECB Working Paper No. 862
Number of pages: 55 Posted: 26 Feb 2008
University of Mannheim, Universitat Autònoma de Barcelona - Institut d'Anàlisi Economica CSIC and Universitat Pompeu Fabra
Downloads 312 (80,194)
Citation 16

Abstract:

Asset pricing, learning, near-rational price forecasts

Stock Market Volatility and Learning

CEPR Discussion Paper No. DP6518
Number of pages: 50 Posted: 06 Jun 2008
University of Mannheim, Universitat Pompeu Fabra and Universitat Autònoma de Barcelona - Institut d'Anàlisi Economica CSIC
Downloads 2 (571,627)
Citation 16
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Abstract:

asset pricing puzzles, consumption-based asset pricing, learning

Inflation Dynamics and Subjective Expectations in the United States

CSEF University of Salerno Working Paper No. 3/2002; ECB Working Paper No. 222
Number of pages: 40 Posted: 06 Aug 2003
Klaus Adam and Mario Padula
University of Mannheim and University "Ca' Foscari" of Venice
Downloads 122 (196,527)
Citation 34

Abstract:

Inflation, Phillips curve, Subjective Expectations

Inflation Dynamics and Subjective Expectations in the United States

Economic Inquiry, Vol. 49, Issue 1, pp. 13-25, 2010
Number of pages: 13 Posted: 12 Jan 2011
Klaus Adam and Mario Padula
University of Mannheim and University "Ca' Foscari" of Venice
Downloads 2 (571,627)
Citation 34
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Abstract:

4.
Downloads 120 (198,224)
Citation 7

Monetary Conservatism and Fiscal Policy

ECB Working Paper No. 663
Number of pages: 48 Posted: 02 Aug 2006
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 60 (309,573)
Citation 7

Abstract:

sequential non-cooperative policy games, discretionary policy, time consistent policy, conservative monetary policy

Monetary Conservatism and Fiscal Policy

Number of pages: 43 Posted: 12 Feb 2007
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 46 (351,415)
Citation 7

Abstract:

sequential non-cooperative policy games, discretionary policy, time consistent policy, conservative monetary policy

Monetary Conservatism and Fiscal Policy

CEPR Discussion Paper No. 5740
Number of pages: 42 Posted: 16 Aug 2006
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 14 (502,457)
Citation 7
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Abstract:

Discretionary policy, sequential non-cooperative policy games, time consistent policy, conservative monetary policy

Discretionary Monetary Policy and the Zero Lower Bound on Nominal Interest Rates

Journal of Monetary Economics, Forthcoming
Number of pages: 41 Posted: 03 Jan 2006
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 55 (323,476)
Citation 19

Abstract:

nonlinear optimal policy, occasionally binding constraint, sequential policy, Markov perfect equilibrium, liquidity trap

Discretionary Monetary Policy and the Zero Lower Bound on Nominal Interest Rates

FRB of Kansas City Working Paper No. 05-08
Number of pages: 41 Posted: 24 Jan 2006
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 54 (326,521)
Citation 19

Abstract:

Nonlinear Optimal Policy, Occasionally Binding Constraint, Sequential Policy, Markov Perfect Equilibrium, Liquidity Trap

Optimal Monetary Policy Under Discretion with a Zero Bound on Nominal Interest Rates

ECB Working Paper No. 380
Number of pages: 46 Posted: 09 Dec 2004
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 79 (265,284)
Citation 42

Abstract:

nonlinear policy, zero lower bound, liquidit y trap

Optimal Monetary Policy Under Discretion with a Zero Bound on Nominal Interest Rates

CEPR Discussion Paper No. 4585
Number of pages: 43 Posted: 19 Oct 2004
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 10 (525,344)
Citation 42
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Abstract:

Nonlinear policy, zero lower bound, liquidity trap

On the Relation Between Robust and Bayesian Decision Making

CFS Working Paper No. 2003/02
Number of pages: 17 Posted: 24 Feb 2003
Klaus Adam
University of Mannheim
Downloads 86 (251,596)
Citation 2

Abstract:

robust decision theory, uncertainty aversion, risk aversion

On the Relation Between Robust and Bayesian Decision Making

Journal of Economic Dynamics and Control, Vol. 28, No. 10, pp. 2105-2117, 2004
Posted: 18 Aug 2004
Klaus Adam
University of Mannheim

Abstract:

Robust decision theory, uncertainty aversion, risk aversion

8.

Learning to Forecast and Cyclical Behavior of Output and Inflation

European University Institute Working Paper No. ECO 2000/25, University of Frankfurt Mimeo, CFS Working Paper No. 2003/02
Number of pages: 46 Posted: 02 Oct 2001
Klaus Adam
University of Mannheim
Downloads 82 (255,112)
Citation 9

Abstract:

Learning, Business Cycles, Rational Expectations, Inefficient Forecasts, Output and Inflation Persistence

Optimal Monetary Policy with Imperfect Common Knowledge

Number of pages: 28 Posted: 05 May 2003
Klaus Adam
University of Mannheim
Downloads 69 (287,236)
Citation 26

Abstract:

optimal policy, information frictions, imperfect common knowledge, higher order beliefs, Shannon capacity

Optimal Monetary Policy with Imperfect Common Knowledge

CEPR Discussion Paper No. 4594
Number of pages: 35 Posted: 22 Oct 2004
Klaus Adam
University of Mannheim
Downloads 12 (514,061)
Citation 26
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Abstract:

Private information, rational inattention, Shannon capacity, nominal demand management, information imperfections

Optimal Monetary Policy with Imperfect Common Knowledge

Journal of Monetary Economics, Forthcoming
Posted: 27 Oct 2005
Klaus Adam
University of Mannheim

Abstract:

Private information, rational inattention, Shannon capacity, nominal demand management, information imperfections

Experimental Evidence on the Persistence of Output and Inflation

ECB Working Paper No. 492
Number of pages: 62 Posted: 21 Jun 2005
Klaus Adam
University of Mannheim
Downloads 50 (338,759)
Citation 16

Abstract:

Experiments, Output and Inflation Dynamics, Restricted Perceptions Equilibrium, Rational Expectations

Experimental Evidence on the Persistence of Output and Inflation

CEPR Discussion Paper No. 4885
Number of pages: 56 Posted: 25 May 2005
Klaus Adam
University of Mannheim
Downloads 14 (502,457)
Citation 16
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Abstract:

Experiments, output and inflation dynamics, restricted perceptions equilibrium, rational expectations

Experimental Evidence on the Persistence of Output and Inflation

Economic Journal, Vol. 117, No. 520, pp. 603-636, April 2007
Number of pages: 34 Posted: 01 Jun 2007
Klaus Adam
University of Mannheim
Downloads 7 (541,804)
Citation 16
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Abstract:

Distortionary Fiscal Policy and Monetary Policy Goals

Number of pages: 40 Posted: 24 Mar 2010
Roberto M. Billi and Klaus Adam
Sveriges Riksbank and University of Mannheim
Downloads 38 (379,783)
Citation 7

Abstract:

discretion, Nash and Stackelberg equilibria, policy biases, sequential non-cooperative policy games

Distortionary Fiscal Policy and Monetary Policy Goals

Riksbank Research Paper Series No. 109, Sveriges Riksbank Working Paper Series No. 278
Number of pages: 18 Posted: 18 Dec 2013
Klaus Adam and Roberto M. Billi
University of Mannheim and Sveriges Riksbank
Downloads 24 (444,298)
Citation 7

Abstract:

optimal policy, lack of commitment, conservative monetary policy

12.

Are Stationary Hyperinflation Paths Learnable?

CESifo Working Paper Series No. 936
Number of pages: 31 Posted: 13 May 2003
University of Mannheim, University of Oregon - Department of Economics and Bank of Finland
Downloads 58 (302,984)
Citation 7

Abstract:

Indeterminacy, Inflation, Stability of Equilibria, Seigniorage

Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices

CFS Working Paper No. 2003/03
Number of pages: 42 Posted: 02 Oct 2001
Klaus Adam
University of Mannheim
Downloads 58 (315,041)
Citation 5

Abstract:

adaptive learning, sticky prices, temporary equilibrium, equilibrium selection

Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices

Review of Economic Studies, Vol. 70, No. 4, pp. 887-908, 2003
Posted: 09 Jan 2004
Klaus Adam
University of Mannheim

Abstract:

adaptive learning, sticky prices, temporary equilibrium, equilibrium selection

Distributional Consequences of Asset Price Inflation in the Euro Area

Bundesbank Discussion Paper No. 27/2015
Number of pages: 22 Posted: 21 Jun 2016
Klaus Adam and Panagiota Tzamourani
University of Mannheim and Deutsche Bundesbank
Downloads 36 (387,615)

Abstract:

monetary policy, asset prices, net wealth distribution, inequality, household survey

Distributional Consequences of Asset Price Inflation in the Euro Area

CEPR Discussion Paper No. DP10897
Number of pages: 28 Posted: 28 Oct 2015
Klaus Adam and Panagiota Tzamourani
University of Mannheim and Deutsche Bundesbank
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Abstract:

asset price inflation, wealth redistribution

15.

Should Macroeconomists Consider Restricted Perceptions Equilibria? Evidence from the Experimental Laboratory

Number of pages: 46 Posted: 19 Nov 2002
Klaus Adam
University of Mannheim
Downloads 25 (411,778)

Abstract:

Experiments, Equilibrium Selection, Restricted Perceptions

16.

Stock Price Booms and Expected Capital Gains

Number of pages: 69 Posted: 23 Jul 2015
Klaus Adam, Albert Marcet and Johannes Beutel
University of Mannheim, Universitat Autònoma de Barcelona - Institut d'Anàlisi Economica CSIC and University of Mannheim Graduate School of Economic and Social Sciences, Students
Downloads 20 (206,094)

Abstract:

stock pricing

17.

House Price Booms and the Current Account

NBER Working Paper No. w17224
Number of pages: 43 Posted: 19 Jul 2011
Klaus Adam, Pei Kuang and Albert Marcet
University of Mannheim, Goethe University Frankfurt - House of Finance and London School of Economics & Political Science (LSE)
Downloads 15 (462,365)
Citation 8

Abstract:

18.
Downloads 6 (523,020)

Optimal Trend Inflation

Bundesbank Discussion Paper No. 25/2017
Posted: 07 Sep 2017
Klaus Adam and Henning Weber
University of Mannheim and Deutsche Bundesbank
Downloads 3 (563,256)

Abstract:

optimal inflation rate, sticky prices, firm heterogeneity

Optimal Trend Inflation

CFS WP No. 579
Number of pages: 78 Posted: 27 Sep 2017
Klaus Adam and Henning Weber
University of Mannheim and Deutsche Bundesbank
Downloads 3 (563,256)

Abstract:

optimal inflation rate, sticky prices, firm heterogeneity

Optimal Trend Inflation

CEPR Discussion Paper No. DP12160
Number of pages: 78 Posted: 25 Jul 2017
Klaus Adam and Henning Weber
University of Mannheim and Deutsche Bundesbank
Downloads 0
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Abstract:

Firm Heterogeneity, optimal inflation

19.

Government Debt and Optimal Monetary and Fiscal Policy

CEPR Discussion Paper No. DP8064
Number of pages: 37 Posted: 22 Nov 2010
Klaus Adam
University of Mannheim
Downloads 4 (532,153)
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Abstract:

non-contingent debt, Ramsey optimal policy, second-order approximation, sticky prices

20.

Internal Rationality and Asset Prices

CEPR Discussion Paper No. DP7498
Number of pages: 39 Posted: 17 Nov 2009
Klaus Adam and Albert Marcet
University of Mannheim and London School of Economics & Political Science (LSE)
Downloads 4 (532,153)
Citation 1
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Abstract:

learning, rationality

21.

Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model

CEPR Discussion Paper No. DP8826
Number of pages: 65 Posted: 01 Mar 2012
Klaus Adam and Michael Woodford
University of Mannheim and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 3 (537,294)
Citation 2
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Abstract:

belief distortions, near-rational expectations, robust control, target criterion

22.

Optimal Sovereign Default

Bundesbank Discussion Paper No. 09/2013
Number of pages: 52 Posted: 21 Jun 2016
Klaus Adam and Michael Grill
University of Mannheim and European Central Bank (ECB)
Downloads 0 (451,859)
Citation 2

Abstract:

Fiscal Policy, Sovereign Risk

23.

Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area

ECB Working Paper No. 1853
Number of pages: 58 Posted: 30 Sep 2015
Klaus Adam and Junyi Zhu
University of Mannheim and Deutsche Bundesbank
Downloads 0 (416,378)

Abstract:

price level, redistribution, Euro Area, household survey

24.

Are Hyperinflation Paths Learnable?

Journal of Economic Dynamics and Control, Forthcoming
Posted: 27 Oct 2005
University of Mannheim, University of Oregon - Department of Economics and Bank of Finland

Abstract:

Indeterminacy, inflation, stability of equilibria, seigniorage

25.

Learning to Forecast and Cyclical Behavior of Output and Inflation

Macroeconomic Dynamics, Forthcoming
Posted: 19 Aug 2004
Klaus Adam
University of Mannheim

Abstract:

Learning, Business Cycles, Rational Expectations, Inefficient Forecasts, Output and Inflation Persistence