Stephen G. Cecchetti

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

Brandeis International Business School

Rosen Family Chair in International Finance

415 South Street

Waltham, MA 02453

United States

Centre for Economic Policy Research (CEPR)

London

United Kingdom

  • National Bureau of Economic Research (NBER)

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    • Tel: 212-720-8629
    • Fax: 212-720-2630

  • Brandeis International Business School

  • Centre for Economic Policy Research (CEPR)

SCHOLARLY PAPERS

78

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171

CROSSREF CITATIONS

1,056

Scholarly Papers (78)

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1.

The Real Effects of Debt

BIS Working Paper No. 352
Number of pages: 39 Posted: 19 Oct 2011
Stephen G. Cecchetti, Stephen G. Cecchetti, Madhusudan S. Mohanty and Fabrizio Zampolli
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 3,541 (4,360)
Citation 16

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growth, public debt, private debt, debt threshold, ageing

2.

The Future of Public Debt: Prospects and Implications

BIS Working Paper No. 300
Number of pages: 26 Posted: 05 May 2010
Stephen G. Cecchetti, Stephen G. Cecchetti, Madhusudan S. Mohanty and Fabrizio Zampolli
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 2,385 (8,378)
Citation 75

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public debt, fiscal deficit, age-related spending, inflation, interest rates, default risk

3.

Reassessing the Impact of Finance on Growth

BIS Working Paper No. 381
Number of pages: 22 Posted: 27 Jul 2012
Stephen G. Cecchetti, Stephen G. Cecchetti and Enisse Kharroubi
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
Downloads 2,090 (10,368)
Citation 12

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Growth, financial development, credit booms, R&D intensity, financial dependence

4.

Central Counterparties for Over-the-Counter Derivatives

BIS Quarterly Review, September 2009
Number of pages: 14 Posted: 02 Aug 2012
Stephen G. Cecchetti, Stephen G. Cecchetti, Jacob Gyntelberg and Marc Hollanders
National Bureau of Economic Research (NBER)Brandeis International Business School, European Banking Authority and Bank for International Settlements (BIS)
Downloads 1,506 (17,420)
Citation 5

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5.

Commodity Prices and Inflation Dynamics

BIS Quarterly Review, pp. 55-66, December 2008
Number of pages: 12 Posted: 22 Jul 2012
Stephen G. Cecchetti, Stephen G. Cecchetti and Richhild Moessner
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
Downloads 688 (52,958)

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6.

Monetary Policy and the Measurement of Inflation: Prices, Wages and Expectations

BIS Paper No. 49
Number of pages: 395 Posted: 03 Feb 2010
Stephen G. Cecchetti, Stephen G. Cecchetti, Ramon Moreno, Dubravko Mihaljek, Agustin Villar and Sweta C. Saxena
National Bureau of Economic Research (NBER)Brandeis International Business School, Self employed, Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 617 (60,935)

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7.

Why Does Financial Sector Growth Crowd Out Real Economic Growth?

Downloads 558 ( 69,193)
Citation 23

Why Does Financial Sector Growth Crowd Out Real Economic Growth?

BIS Working Paper No. 490
Number of pages: 31 Posted: 13 Feb 2015
Stephen G. Cecchetti, Stephen G. Cecchetti and Enisse Kharroubi
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
Downloads 555 (68,835)
Citation 5

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growth, financial development, credit booms, R&D intensity, financial dependence

Why Does Financial Sector Growth Crowd Out Real Economic Growth?

CEPR Discussion Paper No. DP10642
Number of pages: 33 Posted: 09 Jun 2015
Stephen G. Cecchetti, Stephen G. Cecchetti and Enisse Kharroubi
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
Downloads 3 (884,285)
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asset tangibility, credit booms, financial development, growth, R&D intensity

8.

Interpreting TARGET2 Balances

BIS Working Paper No. 393
Number of pages: 23 Posted: 05 Jan 2013
Stephen G. Cecchetti, Stephen G. Cecchetti, Robert N. McCauley, Robert N. McCauley and Patrick McGuire
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 439 (92,502)
Citation 2

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payment system, financial crisis, monetary policy, international lending

9.

Crisis and Responses: The Federal Reserve and the Financial Crisis of 2007-2008

NBER Working Paper No. w14134
Number of pages: 25 Posted: 30 Jun 2008 Last Revised: 14 Feb 2021
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 404 (101,834)
Citation 4

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10.

Future of Financial Intermediation and Regulation: An Overview

Current Issues in Economics and Finance Vol. 5, No. 8, May 1999
Number of pages: 6 Posted: 28 Jun 2007
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 404 (101,834)
Citation 1

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Financial Intermediation, Regulation

11.

Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

Downloads 366 (113,948)
Citation 48

Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

Economic Policy Review, Vol. 5, No. 2, July 1999
Number of pages: 20 Posted: 01 Aug 2007
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 306 (137,574)

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interest rates, monetary policy transmission

Legal Structure, Financial Structure, and the Monetary Policy Transmission Mechanism

NBER Working Paper No. w7151
Number of pages: 35 Posted: 17 Aug 1999 Last Revised: 16 Jan 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 60 (485,848)
Citation 6

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12.

The Unreliability of Inflation Indicators

Number of pages: 6 Posted: 04 May 2005
Charles Steindel, Stephen G. Cecchetti, Stephen G. Cecchetti and Rita Chu
Federal Reserve Bank of New York, National Bureau of Economic Research (NBER)Brandeis International Business School and affiliation not provided to SSRN
Downloads 334 (126,017)

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inflation, indicators, forecasting

13.

Financial System and Macroeconomic Resilience: Revisited

BIS Paper No. 53, Columbia Business School Research Paper No. 12-16
Number of pages: 43 Posted: 31 Oct 2010 Last Revised: 02 Mar 2012
Stephen G. Cecchetti, Stephen G. Cecchetti, William Dudley, Masaaki Shirakawa, Joseph E. Stiglitz and Nout Wellink
National Bureau of Economic Research (NBER)Brandeis International Business School, Federal Reserve Bank of New York, Bank of Japan - Institute of Monetary and Economic Studies, Columbia University - Columbia Business School, Finance and affiliation not provided to SSRN
Downloads 314 (134,365)

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14.

Toward a Global Risk Map

BIS Working Paper No. 309
Number of pages: 27 Posted: 28 Jun 2010
Stephen G. Cecchetti, Stephen G. Cecchetti, Ingo Fender and Patrick McGuire
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 306 (138,268)
Citation 23

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Risk Map, International Banking, Financial Crises, Yen Carry Trade, Funding Risk

15.

Central Bank Tools and Liquidity Shortages

Downloads 248 (170,938)
Citation 17

Central Bank Tools and Liquidity Shortages

Economic Policy Review, Vol. 16, No. 1, p. 29, August 2010
Number of pages: 14 Posted: 17 Sep 2010
Stephen G. Cecchetti, Stephen G. Cecchetti and Piti Disyatat
National Bureau of Economic Research (NBER)Brandeis International Business School and International Monetary Fund (IMF) - Research Department
Downloads 150 (268,135)
Citation 17

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Monetary Policy, Lender of Last Resort, Liquidity Operation, Systemic Crisis, Liquidity Shortage

Central Bank Tools and Liquidity Shortages

Economic Policy Review, Forthcoming
Number of pages: 14 Posted: 31 Oct 2009
Stephen G. Cecchetti, Stephen G. Cecchetti and Piti Disyatat
National Bureau of Economic Research (NBER)Brandeis International Business School and Puey Ungphakorn Institute for Economic Research, Bank of Thailand
Downloads 98 (366,488)
Citation 10

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16.

When Capital Adequacy and Interest Rate Policy are Substitutes (and When They are Not)

BIS Working Paper No. 379
Number of pages: 22 Posted: 08 May 2012
Stephen G. Cecchetti, Stephen G. Cecchetti and Marion Kohler
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
Downloads 234 (180,805)
Citation 3

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monetary policy, capital adequacy policy, financial stability policy

17.

The Future of Central Banking Under Post-Crisis Mandates

BIS Paper No. 55
Number of pages: 46 Posted: 02 Dec 2011
Stephen G. Cecchetti, Stephen G. Cecchetti, Alexandre Lamfalussy, Jaime Caruana, Mark J. Carney, Andrew Crockett, Lucas Papademos and Duvvuri Subbarao
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS), Bank for International Settlements (BIS), affiliation not provided to SSRN, affiliation not provided to SSRN, European Central Bank (ECB) and affiliation not provided to SSRN
Downloads 220 (191,634)
Citation 6

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18.

Has the Inflation Process Changed?

BIS Working Paper No. 185
Number of pages: 69 Posted: 20 Sep 2007
Stephen G. Cecchetti, Stephen G. Cecchetti and Guy Debelle
National Bureau of Economic Research (NBER)Brandeis International Business School and Reserve Bank of Australia
Downloads 188 (221,152)
Citation 6

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inflation, inflation persistence, Monetary Policy Regimes

19.

Weathering the Financial Crisis: Good Policy or Good Luck?

BIS Working Paper No. 351
Number of pages: 28 Posted: 12 Oct 2011
Stephen G. Cecchetti, Stephen G. Cecchetti, Michael King and James Yetman
National Bureau of Economic Research (NBER)Brandeis International Business School, affiliation not provided to SSRN and Bank for International Settlements (BIS)
Downloads 182 (227,460)
Citation 3

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financial crisis, principal components

20.

Structural Estimates of the U.S. Sacrifice Ratio

FRB of New York Staff Report No. 71
Number of pages: 33 Posted: 09 Aug 1999
Stephen G. Cecchetti, Stephen G. Cecchetti and Robert W. Rich
National Bureau of Economic Research (NBER)Brandeis International Business School and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 181 (228,538)
Citation 2

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disinflation, identification, vector autoregression, structural shocks

21.

Mean Reversion in Equilibrium Asset Prices

NBER Working Paper No. w2762
Number of pages: 46 Posted: 16 Jun 2004 Last Revised: 19 Jan 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Pok-sang Lam and Nelson C. Mark
National Bureau of Economic Research (NBER)Brandeis International Business School, Ohio State University (OSU) - Economics and University of Notre Dame - Department of Economics and Econometrics
Downloads 177 (232,984)
Citation 5

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22.

Asset Prices in a Flexible Inflation Targeting Framework

NBER Working Paper No. w8970
Number of pages: 24 Posted: 30 May 2002 Last Revised: 05 Jan 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Hans Genberg and Sushil Wadhwani
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Geneva - Graduate Institute of International Studies (HEI) and Bank of England - Monetary Policy Committee
Downloads 157 (257,755)
Citation 6

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23.

Understanding the Great Depression: Lessons for Current Policy

NBER Working Paper No. w6015
Number of pages: 28 Posted: 11 Jun 2000 Last Revised: 10 Jun 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 137 (287,160)

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24.

A Note on the Efficient Estimation of Inflation in Brazil

Banco Central do Brasil Working Paper No. 11
Number of pages: 25 Posted: 23 Jun 2001
Michael F. Bryan, Stephen G. Cecchetti and Stephen G. Cecchetti
Federal Reserve Bank of Cleveland and National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 110 (336,834)

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Inflation, Brazil

25.

Financial Crises and Economic Activity

Downloads 109 (338,826)
Citation 12

Financial Crises and Economic Activity

NBER Working Paper No. w15379
Number of pages: 38 Posted: 28 Sep 2009 Last Revised: 09 Jan 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Marion Kohler and Christian Upper
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 105 (349,925)

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Financial Crises and Economic Activity

CEPR Discussion Paper No. DP7495
Number of pages: 40 Posted: 17 Nov 2009
Stephen G. Cecchetti, Stephen G. Cecchetti, Marion Kohler and Christian Upper
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 4 (872,059)
Citation 2
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Cost of Crisis, Crises, Output loss, Recovery, Systemic Banking Crisis

26.

Will Video Kill the Radio Star? Digitalisation and the Future of Banking

ESRB: Advisory Scientific Committee Reports 2022/12
Number of pages: 64 Posted: 19 Jan 2022
Thorsten Beck, Stephen G. Cecchetti, Stephen G. Cecchetti, Magdalena Grothe, Malcolm Kemp, Loriana Pelizzon and Antonio Sánchez Serrano
Florence School of Banking and Finance, National Bureau of Economic Research (NBER)Brandeis International Business School, European Central Bank (ECB), Nematrian Limited, Leibniz Institute for Financial Research SAFE and European Systemic Risk Board
Downloads 108 (341,003)

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27.

Polcy Rules and Targets: Framing the Central Banker's Problem

Economic Policy Review, Vol. 4, No. 2, June 1998
Number of pages: 14 Posted: 23 Oct 2007
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 108 (341,003)

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Monetary policy targets

28.

Measuring Core Inflation

NBER Working Paper No. w4303
Number of pages: 30 Posted: 05 Feb 2001 Last Revised: 15 Apr 2022
Michael F. Bryan, Stephen G. Cecchetti and Stephen G. Cecchetti
Federal Reserve Bank of Cleveland and National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 105 (347,525)
Citation 1

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29.

Does Prolonged Monetary Policy Easing Increase Financial Vulnerability?

IMF Working Paper No. 17/65
Number of pages: 32 Posted: 12 May 2017
Stephen G. Cecchetti, Stephen G. Cecchetti, Tommaso Mancini Griffoli and Machiko Narita
National Bureau of Economic Research (NBER)Brandeis International Business School, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 95 (370,739)
Citation 1

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Spillovers, Banks, Financial stability, nonbank financial institutions, prolonged monetary policy easing, financial vulnerability, risk-taking behavior, Financial Markets and the Macroeconomy, Monetary Policy (Targets, Instruments, and Effects)

30.

Does Inflation Targeting Increase Output Volatility? an International Comparison of Policymakers&Apos; Preferences and Outcomes

NBER Working Paper No. w7426
Number of pages: 37 Posted: 06 Feb 2000 Last Revised: 18 Apr 2021
Stephen G. Cecchetti, Stephen G. Cecchetti and Michael Ehrmann
National Bureau of Economic Research (NBER)Brandeis International Business School and European Central Bank (ECB)
Downloads 92 (378,341)
Citation 2

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31.

Towards an International Lender of Last Resort

BIS Paper No. 79l
Number of pages: 6 Posted: 08 Oct 2014
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 89 (386,037)
Citation 2

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32.

The Equity Premium and the Risk Free Rate: Matching the Moments

NBER Working Paper No. w3752
Number of pages: 23 Posted: 08 Jul 2004 Last Revised: 15 Apr 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Pok-sang Lam and Nelson C. Mark
National Bureau of Economic Research (NBER)Brandeis International Business School, Ohio State University (OSU) - Economics and University of Notre Dame - Department of Economics and Econometrics
Downloads 89 (386,037)
Citation 7

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33.

GDP at Risk: A Framework for Monetary Policy Responses to Asset Price Movements

NBER Working Paper No. C0012
Number of pages: 25 Posted: 14 Jul 2006
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 88 (388,776)

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34.

The Consumer Price Index as a Measure of Inflation

NBER Working Paper No. w4505
Number of pages: 23 Posted: 31 Jul 2007 Last Revised: 15 Apr 2022
Michael F. Bryan, Stephen G. Cecchetti and Stephen G. Cecchetti
Federal Reserve Bank of Cleveland and National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 76 (423,554)

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35.

Deposit Insurance and External Finance

Downloads 76 (423,554)
Citation 4

Deposit Insurance and External Finance

NBER Working Paper No. w10908
Number of pages: 28 Posted: 07 Dec 2004 Last Revised: 23 Apr 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Stefan Krause
National Bureau of Economic Research (NBER)Brandeis International Business School and Banque de France - Economic Study and Research Division
Downloads 49 (533,413)
Citation 1

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Deposit Insurance and External Finance

Economic Inquiry, Vol. 43, Issue 3, pp. 531-541, 2005
Number of pages: 11 Posted: 05 Jun 2006
Stephen G. Cecchetti, Stephen G. Cecchetti and Stefan Krause
National Bureau of Economic Research (NBER)Brandeis International Business School and Banque de France - Economic Study and Research Division
Downloads 27 (660,955)

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36.

Inflation Targeting and Private Sector Forecasts

Downloads 71 (439,532)

Inflation Targeting and Private Sector Forecasts

Federal Reserve Bank of Kansas City Economic Research Department Working Paper No. 10-01
Number of pages: 29 Posted: 30 Jan 2010 Last Revised: 05 Mar 2013
Craig S. Hakkio, Stephen G. Cecchetti and Stephen G. Cecchetti
Federal Reserve Bank of Kansas City and National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 53 (515,082)

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Monetary policy, transparency, inflation targeting, inflation forecast dispersion

Inflation Targeting and Private Sector Forecasts

NBER Working Paper No. w15424
Number of pages: 29 Posted: 26 Oct 2009 Last Revised: 23 Feb 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Craig S. Hakkio
National Bureau of Economic Research (NBER)Brandeis International Business School and Federal Reserve Bank of Kansas City
Downloads 18 (733,510)

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37.

Financial Structure, Macroeconomic Stability and Monetary Policy

NBER Working Paper No. w8354
Number of pages: 33 Posted: 28 Jun 2001 Last Revised: 01 May 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Stefan Krause
National Bureau of Economic Research (NBER)Brandeis International Business School and Banque de France - Economic Study and Research Division
Downloads 70 (442,856)

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38.

Measuring Short-Run Inflation for Central Bankers

NBER Working Paper No. w5786
Number of pages: 28 Posted: 21 Apr 1997 Last Revised: 25 Apr 2021
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 65 (460,114)

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39.

Asset Prices in the Measurement of Inflation

NBER Working Paper No. w8700
Number of pages: 40 Posted: 10 Jan 2002 Last Revised: 11 Apr 2021
Michael F. Bryan, Stephen G. Cecchetti, Stephen G. Cecchetti and Roisin O'Sullivan
Federal Reserve Bank of Cleveland, National Bureau of Economic Research (NBER)Brandeis International Business School and Smith College - Department of Economics
Downloads 63 (467,423)

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40.

Prices During the Great Depression: Was the Deflation of 1930-32 Really Unanticipated?

NBER Working Paper No. w3174
Number of pages: 30 Posted: 25 Jun 2004 Last Revised: 06 Mar 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 62 (471,107)
Citation 7

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41.

Asset Pricing with Distorted Beliefs: Are Equity Returns Too Good to Be True?

NBER Working Paper No. w6354
Number of pages: 26 Posted: 16 Jul 2000 Last Revised: 14 May 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Pok-sang Lam and Nelson C. Mark
National Bureau of Economic Research (NBER)Brandeis International Business School, Ohio State University (OSU) - Economics and University of Notre Dame - Department of Economics and Econometrics
Downloads 58 (486,458)
Citation 9

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42.

Assessing the Sources of Changes in the Volatility of Real Growth

NBER Working Paper No. w11946
Number of pages: 32 Posted: 13 Apr 2006 Last Revised: 21 Feb 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Alfonso Flores-Lagunes and Stefan Krause
National Bureau of Economic Research (NBER)Brandeis International Business School, Syracuse University--Economics and Banque de France - Economic Study and Research Division
Downloads 56 (494,248)
Citation 2

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43.

Efficient Inflation Estimation

NBER Working Paper No. w6183
Number of pages: 32 Posted: 26 Aug 2000 Last Revised: 26 May 2022
Michael F. Bryan, Stephen G. Cecchetti, Stephen G. Cecchetti and Rodney L. Wiggins II
Federal Reserve Bank of Cleveland, National Bureau of Economic Research (NBER)Brandeis International Business School and affiliation not provided to SSRN
Downloads 54 (502,418)
Citation 1

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44.

How Central Bankers See it: The First Decade of ECB Policy and Beyond

NBER Working Paper No. w14489
Number of pages: 55 Posted: 18 Nov 2008 Last Revised: 05 Aug 2021
Stephen G. Cecchetti, Stephen G. Cecchetti and Kermit L. Schoenholtz
National Bureau of Economic Research (NBER)Brandeis International Business School and New York University - Stern School of Business - Department of Economics
Downloads 53 (506,521)

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45.

Do Capital Adequacy Requirements Matter for Monetary Policy?

Downloads 52 (510,776)
Citation 17

Do Capital Adequacy Requirements Matter for Monetary Policy?

NBER Working Paper No. w11830
Number of pages: 35 Posted: 02 Mar 2006 Last Revised: 30 Apr 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Lianfa Li
National Bureau of Economic Research (NBER)Brandeis International Business School and China International Capital Corporation
Downloads 50 (528,739)

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Do Capital Adequacy Requirements Matter for Monetary Policy?

Economic Inquiry, Vol. 46, Issue 4, pp. 643-659, October 2008
Number of pages: 17 Posted: 27 Oct 2008
Stephen G. Cecchetti, Stephen G. Cecchetti and Lianfa Li
National Bureau of Economic Research (NBER)Brandeis International Business School and China International Capital Corporation
Downloads 2 (898,262)

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46.

Has Monetary Policy Become More Efficient? a Cross Country Analysis

NBER Working Paper No. w10973
Number of pages: 41 Posted: 20 Dec 2004 Last Revised: 27 Jun 2021
Stephen G. Cecchetti, Stephen G. Cecchetti, Alfonso Flores-Lagunes and Stefan Krause
National Bureau of Economic Research (NBER)Brandeis International Business School, Syracuse University--Economics and Banque de France - Economic Study and Research Division
Downloads 48 (528,436)

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47.

The New Economy and the Challenges for Macroeconomic Policy

NBER Working Paper No. w8935
Number of pages: 33 Posted: 17 May 2002 Last Revised: 02 Jun 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 46 (537,532)

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48.

The Seasonality of Consumer Prices

NBER Working Paper No. w5173
Number of pages: 24 Posted: 25 May 2006 Last Revised: 15 Apr 2022
Michael F. Bryan, Stephen G. Cecchetti and Stephen G. Cecchetti
Federal Reserve Bank of Cleveland and National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 44 (547,016)

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49.

Measuring the Macroeconomic Risks Posed by Asset Price Booms

NBER Working Paper No. w12542
Number of pages: 31 Posted: 02 Oct 2006 Last Revised: 10 Apr 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 43 (551,880)
Citation 2

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50.

Price Level Convergence Among United States Cities: Lessons for the European Central Bank

NBER Working Paper No. w7681
Number of pages: 28 Posted: 18 May 2000 Last Revised: 29 Jun 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Nelson C. Mark and Robert J. Sonora
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Notre Dame - Department of Economics and Econometrics and Univeristy of Montana
Downloads 43 (551,880)
Citation 2

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51.

Inflation Targeting, Price-Path Targeting and Output Variability

NBER Working Paper No. w9672
Number of pages: 35 Posted: 16 May 2003 Last Revised: 06 Jun 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Junhan Kim
National Bureau of Economic Research (NBER)Brandeis International Business School and The Bank of Korea
Downloads 42 (556,865)
Citation 2

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52.

Understanding Inflation: Implications for Monetary Policy

NBER Working Paper No. w7482
Number of pages: 34 Posted: 27 Mar 2000 Last Revised: 19 Mar 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Erica L. Groshen
National Bureau of Economic Research (NBER)Brandeis International Business School and Federal Reserve Bank of New York
Downloads 41 (561,986)

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53.

Inflation Indicators and Inflation Policy

NBER Working Paper No. w5161
Number of pages: 35 Posted: 12 Sep 2000 Last Revised: 07 Feb 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 40 (567,049)
Citation 2

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54.

New Regulation and the New World of Global Banking

National Institute Economic Review, 216(1), April 2011
Number of pages: 15 Posted: 26 May 2013
Stephen G. Cecchetti, Stephen G. Cecchetti, Dietrich Domanski and Goetz von Peter
National Bureau of Economic Research (NBER)Brandeis International Business School, Bank for International Settlements (BIS) and Bank for International Settlements - Research and Policy Analysis
Downloads 37 (582,609)

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Global banking, bank funding, liquidity regulation, Basel III

55.

Policymakers' Revealed Preferences and the Output-Inflation Variability Trade-Off: Implications for the European System of Central Banks

Number of pages: 23 Posted: 28 Apr 2003
Stephen G. Cecchetti, Stephen G. Cecchetti, Margaret Mary McConnell and Gabriel Perez-Quiros
National Bureau of Economic Research (NBER)Brandeis International Business School, Federal Reserve Bank of New York and Banco de España
Downloads 37 (582,609)

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56.

Inflation and the Distribution of Price Changes

NBER Working Paper No. w5793
Number of pages: 21 Posted: 13 Sep 2000 Last Revised: 16 Apr 2022
Michael F. Bryan, Stephen G. Cecchetti and Stephen G. Cecchetti
Federal Reserve Bank of Cleveland and National Bureau of Economic Research (NBER)Brandeis International Business School
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57.

Imperfect Information and Staggered Price Setting

NBER Working Paper No. w2201
Number of pages: 34 Posted: 26 Jan 2007 Last Revised: 07 Jan 2022
Laurence Ball, Stephen G. Cecchetti and Stephen G. Cecchetti
Johns Hopkins University - Department of Economics and National Bureau of Economic Research (NBER)Brandeis International Business School
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58.

Wage Indexation and Time-Consistent Monetary Policy

NBER Working Paper No. w2948
Number of pages: 31 Posted: 14 Aug 2007 Last Revised: 22 Jan 2022
Laurence Ball, Stephen G. Cecchetti and Stephen G. Cecchetti
Johns Hopkins University - Department of Economics and National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 29 (629,624)
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59.

On the Stance of Macroprudential Policy

ESRB: Advisory Scientific Committee Reports 2021/11
Number of pages: 45 Posted: 02 Dec 2021
Stephen G. Cecchetti, Stephen G. Cecchetti and Javier Suarez
National Bureau of Economic Research (NBER)Brandeis International Business School and Centre for Monetary and Financial Studies (CEMFI)
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60.

Commentary

Economic Policy Review, Vol. 4, No. 3, October 1998
Number of pages: 3 Posted: 11 Nov 2007
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
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capital regulation

61.

Sources of Output Fluctuations During the Interwar Period: Further Evidence on the Causes of the Great Depression

NBER Working Paper No. w4049
Number of pages: 45 Posted: 24 Jul 2007 Last Revised: 04 Apr 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Georgios Karras
National Bureau of Economic Research (NBER)Brandeis International Business School and University of Illinois at Chicago - Department of Economics
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62.

Testing Volatility Restrictions on Intertemporal Marginal Rates of Substitution Implied by Euler Equations and Asset Returns

NBER Working Paper No. t0124
Number of pages: 39 Posted: 27 Jun 2007 Last Revised: 07 May 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Pok-sang Lam and Nelson C. Mark
National Bureau of Economic Research (NBER)Brandeis International Business School, Ohio State University (OSU) - Economics and University of Notre Dame - Department of Economics and Econometrics
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63.

Stress Testing Networks: The Case of Central Counterparties

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Stress Testing Networks: The Case of Central Counterparties

NBER Working Paper No. w25686
Number of pages: 31 Posted: 26 Mar 2019 Last Revised: 09 Mar 2022
Richard Berner, Stephen G. Cecchetti, Stephen G. Cecchetti and Kermit L. Schoenholtz
Leonard N. Stern School of Business, NYU, National Bureau of Economic Research (NBER)Brandeis International Business School and New York University - Stern School of Business - Department of Economics
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Stress Testing Networks: The Case of Central Counterparties

CEPR Discussion Paper No. DP13604
Number of pages: 33 Posted: 27 Mar 2019
Richard Berner, Stephen G. Cecchetti, Stephen G. Cecchetti and Kermit L. Schoenholtz
Leonard N. Stern School of Business, NYU, National Bureau of Economic Research (NBER)Brandeis International Business School and New York University - Stern School of Business - Department of Economics
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CCP, central counterparties, financial network, financial regulation, Financial Stability, Resolution, SRISK, Stress Testing

64.

International Cycles

NBER Working Paper No. w5310
Number of pages: 43 Posted: 15 Sep 2000 Last Revised: 05 Jan 2022
Stephen G. Cecchetti, Stephen G. Cecchetti and Anil K. Kashyap
National Bureau of Economic Research (NBER)Brandeis International Business School and University of Chicago, Booth School of Business
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65.

Do Firms Smooth the Seasonal in Production in a Boom? Theory and Evidence

NBER Working Paper No. w5011
Number of pages: 30 Posted: 11 Aug 2000 Last Revised: 13 Mar 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Anil K. Kashyap and David W. Wilcox
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Chicago, Booth School of Business and Board of Governors of the Federal Reserve System
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66.

Central Bank Policy Rules: Conceptual Issues and Practical Considerations

NBER Working Paper No. w6306
Number of pages: 22 Posted: 24 Jul 2000 Last Revised: 27 Mar 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
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67.

The Case of the Negative Nominal Interest Rates: New Estimates of the Term Structure of Interest Rates During the Great Depression

NBER Working Paper No. w2472
Number of pages: 38 Posted: 11 Apr 2011 Last Revised: 04 Apr 2022
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
Downloads 22 (678,784)
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68.

Addressing Spillovers from Prolonged U.S. Monetary Policy Easing

IMF Working Paper No. 2021/182
Number of pages: 37 Posted: 04 Feb 2022
Stephen G. Cecchetti, Stephen G. Cecchetti, Machiko Narita, Umang Rawat and Ratna Sahay
National Bureau of Economic Research (NBER)Brandeis International Business School, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Developing Country Studies Division
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Spillovers, prolonged monetary policy easing, financial stability, macroprudential policies, foreign-exchange intervention, capital flow management measures, U.S. monetary policy, monetary policy easing, leverage ratio, financial institution leverage, monetary policy spillover, FXI policy, Macroprudential policy, Spillovers, Capital inflows, Capital flow management, Macroprudential policy instruments, Global

69.

Why Does Credit Growth Crowd Out Real Economic Growth?

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Why Does Credit Growth Crowd Out Real Economic Growth?

NBER Working Paper No. w25079
Number of pages: 28 Posted: 24 Sep 2018
Stephen G. Cecchetti, Stephen G. Cecchetti and Enisse Kharroubi
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
Downloads 17 (742,266)
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Why Does Credit Growth Crowd Out Real Economic Growth?

The Manchester School, Vol. 87, pp. 1-28, 2019
Number of pages: 28 Posted: 29 May 2020
Stephen G. Cecchetti, Stephen G. Cecchetti and Enisse Kharroubi
National Bureau of Economic Research (NBER)Brandeis International Business School and Bank for International Settlements (BIS)
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70.

Price Index Convergence Among United States Cities

Number of pages: 19 Posted: 05 Jan 2003
Stephen G. Cecchetti, Stephen G. Cecchetti, Nelson C. Mark and Robert J. Sonora
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Notre Dame - Department of Economics and Econometrics and Univeristy of Montana
Downloads 15 (734,158)
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71.

Finance and Technology: What is Changing and What is Not

CEPR Discussion Paper No. DP15352
Number of pages: 45 Posted: 03 Nov 2020
Stephen G. Cecchetti, Stephen G. Cecchetti and Kermit L. Schoenholtz
National Bureau of Economic Research (NBER)Brandeis International Business School and New York University - Stern School of Business - Department of Economics
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big tech, Central bank digital currency, digital currency, financial innovation, financial institutions, financial regulation, Financial Services, Fintech, peer-to-peer lending, Remittances

72.

Deflating Inflation Expectations: The Implications of Inflation's Simple Dynamics

CEPR Discussion Paper No. DP11925
Number of pages: 56 Posted: 27 Mar 2017
Stephen G. Cecchetti, Stephen G. Cecchetti, Michael Feroli, Peter Hooper, Anil K. Kashyap and Kermit L. Schoenholtz
National Bureau of Economic Research (NBER)Brandeis International Business School, J.P. Morgan Chase & Co., Deutsche Bank Securities, Inc. - Global Markets Research, Economy, University of Chicago, Booth School of Business and New York University - Stern School of Business - Department of Economics
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Federal Open Market Committee, FOMC, inflation dynamics, Inflation expectations, inflation target, inflation trend, monetary policy, Philip Curve, price stability, US Monetary Policy Forum

73.

Regulatory Reform: A Scorecard

CEPR Discussion Paper No. DP12465
Number of pages: 26 Posted: 12 Dec 2017
Stephen G. Cecchetti, Stephen G. Cecchetti and Kermit L. Schoenholtz
National Bureau of Economic Research (NBER)Brandeis International Business School and New York University - Stern School of Business - Department of Economics
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Capital requirements, Central clearing, financial regulation, liquidity requirements, macro-financial linkages, macroprudential policy, Prudential regulation, recovery and resolution planing

74.

Monetary Policy in the Next Recession?

CEPR Discussion Paper No. DP15365
Number of pages: 48 Posted: 03 Nov 2020
Stephen G. Cecchetti, Stephen G. Cecchetti, Michael Feroli, Anil K. Kashyap, Catherine L. Mann and Kermit L. Schoenholtz
National Bureau of Economic Research (NBER)Brandeis International Business School, J.P. Morgan Chase & Co., University of Chicago, Booth School of Business, Brandeis University and New York University - Stern School of Business - Department of Economics
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financial conditions, Financial conditions index, forward guidance, maturity extension, monetary policy, Negative Interest Rates, Quantitative easing, Stabilization Policy, Unconventional Monetary Policy

75.

Improving U.S. Monetary Policy Communications

CEPR Discussion Paper No. DP13915
Number of pages: 61 Posted: 20 Aug 2019
Stephen G. Cecchetti, Stephen G. Cecchetti and Kermit L. Schoenholtz
National Bureau of Economic Research (NBER)Brandeis International Business School and New York University - Stern School of Business - Department of Economics
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central bank accountability, central bank communication, Federal Reserve, forward guidance, monetary policy, Monetary policy credibility, Policy Transparency, Reaction functions

76.

Is There Macroprudential Policy Without International Cooperation?

CEPR Discussion Paper No. DP11042
Number of pages: 26 Posted: 20 Jan 2016
Stephen G. Cecchetti, Stephen G. Cecchetti and Paul Tucker
National Bureau of Economic Research (NBER)Brandeis International Business School and Harvard University
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Basel Committee on Banking Supervision, financial globalization, Financial Stability Board, financial stability policy, international cooperation, macroprudential policy, prudential policy, stress tests

77.

On the Separation of Monetary and Prudential Policy: How Much of the Pre-Crisis Consensus Remains?

CEPR Discussion Paper No. DP10949
Number of pages: 18 Posted: 27 Nov 2015
Stephen G. Cecchetti and Stephen G. Cecchetti
National Bureau of Economic Research (NBER)Brandeis International Business School
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capital requirements, financial stability policy, monetary policy, prudential policy, stress tests

78.

Interactions between the Seasonal and Business Cycles in Production and Inventories

The American Economic Review, December 1997
Posted: 27 Jul 1998
Stephen G. Cecchetti, Stephen G. Cecchetti, Anil K. Kashyap and David W. Wilcox
National Bureau of Economic Research (NBER)Brandeis International Business School, University of Chicago, Booth School of Business and Board of Governors of the Federal Reserve System

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