Christopher J. Erceg

Board of Governors of the Federal Reserve System

Senior Associate Director - International Finance Division

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

  • Board of Governors of the Federal Reserve System

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SCHOLARLY PAPERS

30

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Top 1,334

in Total Papers Citations

751

CROSSREF CITATIONS

386

Scholarly Papers (30)

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1.

Preventing Deflation: Lessons from Japan's Experience in the 1990s

Number of pages: 64 Posted: 21 Jul 2003
Alan G. Ahearne, Joseph Gagnon, Jane Haltmaier, Steven B. Kamin, Christopher J. Erceg, Jon Faust, Luca Guerrieri, Jennifer E. Roush, John H. Rogers, Nathan Sheets and Jonathan H. Wright
University of Galway - Department of Economics, Peterson Institute, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Fudan University - Fanhai International School of Finance (FISF), Board of Governors of the Federal Reserve System and Johns Hopkins University - Department of Economics
Downloads 1,986 (14,227)
Citation 29

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Monetary policy, Taylor rule, fiscal policy

2.

Sigma: A New Open Economy Model for Policy Analysis

IFDP Discussion Paper No. 835, IFDP Discussion Paper No. 835
Number of pages: 53 Posted: 17 Aug 2005
Christopher J. Erceg, Luca Guerrieri and Christopher Gust
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 586 (80,538)
Citation 97

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SDGE model, open-economy macroeconomics

3.

Optimal Monetary Policy with Staggered Wage and Price Contracts

Number of pages: 40 Posted: 11 Sep 2000
Christopher J. Erceg, Dale W. Henderson and Andrew T. Levin
Board of Governors of the Federal Reserve System, Federal Reserve Board and affiliation not provided to SSRN
Downloads 473 (104,867)
Citation 277

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inflation targeting, sticky wages, sticky prices, staggered contracts

4.

Effects of Fiscal Stimulus in Structural Models

IMF Working Paper No. 10/73
Number of pages: 122 Posted: 29 Mar 2010
Günter Coenen, Christopher J. Erceg, Charles Freedman, Davide Furceri, Michael Kumhof, Rene Lalonde, Douglas Laxton, Jesper Lindé, Annabelle Mourougane, Dirk Muir, Susanna Mursula, Carlos A. de Resende, John Roberts, Werner Roeger, Werner Roeger, Stephen Snudden, Mathias Trabandt and Jan in 't Veld
affiliation not provided to SSRN, Board of Governors of the Federal Reserve System, Government of Canada - Bank of Canada, University of Palermo, CEPR, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Sveriges Riksbank - Research Division, Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO), Bank of Canada, International Monetary Fund (IMF), Bank of Canada - International Economic Analysis Department, International Monetary Fund (IMF), European Commission, DGECFINEuropean Commission, Wilfrid Laurier University, Goethe University in Frankfurt and European Union - Directorate General for Economic and Financial Affairs (DG ECFIN)
Downloads 386 (132,866)
Citation 10

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Budget deficits, Cross country analysis, Economic forecasting, Economic models, Europe, Fiscal policy, Government expenditures, Monetary policy, Public debt, Stabilization measures, Taxes, United States

5.

Money, Sticky Wages, and the Great Depression

Downloads 298 (175,513)
Citation 24

Money, Sticky Wages, and the Great Depression

International Finance Working Paper No. 591, FRB Chicago Working Paper No. 1997-02
Number of pages: 55 Posted: 03 Aug 2000
Michael D. Bordo, Christopher J. Erceg and Charles L. Evans
Rutgers University, New Brunswick - Department of Economics, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Chicago - Research Department
Downloads 226 (230,485)
Citation 24

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Money, Sticky Wages, and the Great Depression

NBER Working Paper No. w6071
Number of pages: 55 Posted: 28 Jan 1998 Last Revised: 05 Aug 2022
Michael D. Bordo, Christopher J. Erceg and Charles L. Evans
Rutgers University, New Brunswick - Department of Economics, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Chicago - Research Department
Downloads 72 (555,831)

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6.

Imperfect Credibility and Inflation Persistence

Number of pages: 33 Posted: 11 Dec 2001
Andrew T. Levin and Christopher J. Erceg
affiliation not provided to SSRN and Board of Governors of the Federal Reserve System
Downloads 219 (238,143)
Citation 68

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Monetary policy, disinflation, sacrifice ratio, signal extraction

7.

Money-Financed Fiscal Programs: A Cautionary Tale

FEDS Working Paper No. 2017-60
Number of pages: 48 Posted: 05 Jun 2017
William B. English, Christopher J. Erceg and David Lopez-Salido
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 215 (242,286)
Citation 2

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DSGE Model, Fiscal policy, Liquidity Trap, Monetary policy, currency unions

8.

Optimal Monetary Policy with Durable and Non-Durable Goods

Number of pages: 33 Posted: 09 Mar 2003
Christopher J. Erceg and Andrew T. Levin
Board of Governors of the Federal Reserve System and affiliation not provided to SSRN
Downloads 209 (248,779)
Citation 39

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VAR analysis, DGE models, sectoral disaggregation

9.

Oil Shocks and External Adjustment

FRB International Finance Discussion Paper No. 897
Number of pages: 56 Posted: 26 Jul 2007
Martin Bodenstein, Christopher J. Erceg and Luca Guerrieri
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 208 (249,810)
Citation 39

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Oil-price shocks, trade, DSGE models

10.

Expansionary Fiscal Shocks and the Trade Deficit

Number of pages: 50 Posted: 05 Feb 2005
Christopher J. Erceg, Luca Guerrieri and Christopher Gust
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 202 (256,658)
Citation 33

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DGE model, open-economy macroeconomics

11.

Optimal Monetary Policy with Durable Goods and Non-Durable Goods

Number of pages: 39 Posted: 17 May 2003
Christopher J. Erceg and Andrew T. Levin
Board of Governors of the Federal Reserve System and affiliation not provided to SSRN
Downloads 172 (295,858)

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VAR analysis, DGE models, sectoral disaggregation

12.

Tradeoffs between Inflation and Output-Gap Variances in an Optimizing-Agent Model

Number of pages: 44 Posted: 30 Jan 1999
Christopher J. Erceg, Dale W. Henderson and Andrew T. Levin
Board of Governors of the Federal Reserve System, Federal Reserve Board and affiliation not provided to SSRN
Downloads 170 (298,784)
Citation 7

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13.

Can Long-Run Restrictions Identify Technology Shocks?

Number of pages: 56 Posted: 17 Feb 2004
Christopher J. Erceg, Luca Guerrieri and Christopher Gust
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 152 (328,382)
Citation 43

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Technology shocks, vector autoregressions, real business cycle models

14.

Nominal Wage Rigidities and the Propagation of Monetary Disturbances

Number of pages: 54 Posted: 12 Apr 1998
Christopher J. Erceg
Board of Governors of the Federal Reserve System
Downloads 139 (352,684)
Citation 15

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15.

Fiscal Consolidation in an Open Economy

Downloads 125 (382,417)
Citation 25

Fiscal Consolidation in an Open Economy

FRB International Finance Discussion Paper No. 1046
Number of pages: 21 Posted: 22 May 2012
Jesper Lindé and Christopher J. Erceg
Sveriges Riksbank - Research Division and Board of Governors of the Federal Reserve System
Downloads 120 (395,930)
Citation 1

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Monetary policy, currency union, fiscal policy, zero lower bound constraint, new Keynesian small open economy DSGE model

Fiscal Consolidation in an Open Economy

CEPR Discussion Paper No. DP8955
Number of pages: 17 Posted: 25 May 2012
Christopher J. Erceg and Jesper Lindé
Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 5 (1,058,789)
Citation 6
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currency union, fiscal policy, monetary policy, New Keynesian Small Open Economy DSGE Model, zero lower bound constraint

16.

Labor Force Participation and Monetary Policy in the Wake of the Great Recession

Downloads 114 (409,172)
Citation 39

Labor Force Participation and Monetary Policy in the Wake of the Great Recession

IMF Working Paper No. 13/245
Number of pages: 61 Posted: 09 Jan 2014
Christopher J. Erceg and Andrew Levin
Board of Governors of the Federal Reserve System and Dartmouth College - Department of Economics
Downloads 108 (428,035)

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Economic recession, United States, Labor markets, Unemployment, Monetary policy, labor force participation, and monetary policy rules, unemployment rate, labor force participation rate, labor supply, unemployed, natural rate of unemployment, labor demand, nairu, labor force projections, under employment, overall employment, high unemployment, labor force participation rates, labor force participants, unemployment rates, unemployment insurance benefits, aggregate employment, total employment, current labor force, female labor force, employment demand, beveridge, jobless, natural unemployment rate, incidence of unemployment, average unemployment, employment data, unemployment problem, employme

Labor Force Participation and Monetary Policy in the Wake of the Great Recession

CEPR Discussion Paper No. DP9668
Number of pages: 56 Posted: 30 Sep 2013
Christopher J. Erceg and Andrew T. Levin
Board of Governors of the Federal Reserve System and affiliation not provided to SSRN
Downloads 6 (1,050,553)
Citation 10
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labor force, policy tradeoffs, simple rules, unemployment rate

17.

Jump-Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?

Riksbank Research Paper Series No. 128, Sveriges Riksbank Working Paper Series No. 304
Number of pages: 85 Posted: 13 Aug 2015
Olivier J. Blanchard, Olivier J. Blanchard, Christopher J. Erceg and Jesper Lindé
National Bureau of Economic Research (NBER)Peterson Institute for International Economics, Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 102 (443,210)
Citation 1

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Monetary Policy, Fiscal Policy, Liquidity Trap, Zero Bound Constraint, DSGE Model, Currency Union

18.

The Transmission of Domestic Shocks in the Open Economy

Downloads 91 (477,752)
Citation 1

The Transmission of Domestic Shocks in the Open Economy

FRB International Finance Discussion Paper No. 906
Number of pages: 76 Posted: 09 Dec 2007
Christopher J. Erceg, Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 63 (597,844)

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Open economy Phillips Curve, Variable markups, Imported intermediate inputs

The Transmission of Domestic Shocks in the Open Economy

NBER Working Paper No. w13613
Number of pages: 71 Posted: 27 Nov 2007 Last Revised: 12 Sep 2022
Christopher J. Erceg, Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 28 (832,422)
Citation 1

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19.

Trade Adjustment and the Composition of Trade

International Finance Discussion Paper No. 859
Number of pages: 47 Posted: 19 May 2006
Christopher J. Erceg, Luca Guerrieri and Christopher Gust
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 86 (494,603)
Citation 12

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SDGE model, open-economy macroeconomics

20.

The Effects of Foreign Shocks When Interest Rates are at Zero

Downloads 81 (512,762)
Citation 16

The Effects of Foreign Shocks When Interest Rates are at Zero

FRB International Finance Discussion Paper No. 983r
Number of pages: 35 Posted: 17 Nov 2009
Martin Bodenstein, Christopher J. Erceg and Luca Guerrieri
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 77 (534,367)
Citation 1

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Zero lower bound, spillover effects, DSGE models

The Effects of Foreign Shocks When Interest Rates are at Zero

CEPR Discussion Paper No. DP8006
Number of pages: 55 Posted: 14 Nov 2010
Martin Bodenstein, Christopher J. Erceg and Luca Guerrieri
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 4 (1,066,495)
Citation 4
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DSGE models, spillover effects, zero lower bound

21.

Did Easy Money in the Dollar Bloc Fuel the Global Commodity Boom?

FRB International Finance Discussion Paper No. 979
Number of pages: 43 Posted: 01 Nov 2009
Christopher J. Erceg, Luca Guerrieri and Steven B. Kamin
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 75 (536,282)
Citation 2

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oil prices, SDGE models, monetary policy

22.

Some Implications of Uncertainty and Misperception for Monetary Policy

FEDS Working Paper No. 2018-59
Number of pages: 40 Posted: 29 Aug 2018 Last Revised: 21 Feb 2019
Christopher J. Erceg, James Hebden, Michael T. Kiley, David Lopez-Salido and Robert J. Tetlow
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 72 (548,668)
Citation 1

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23.

Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes

Downloads 64 (583,872)
Citation 22

Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes

FRB International Finance Discussion Paper No. 1063
Number of pages: 57 Posted: 05 Dec 2012
Christopher J. Erceg and Jesper Lindé
Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 55 (640,458)
Citation 12

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E32, F41

Fiscal Consolidation in a Currency Union: Spending Cuts vs. Tax Hikes

CEPR Discussion Paper No. DP9155
Number of pages: 43 Posted: 02 Oct 2012
Christopher J. Erceg and Jesper Lindé
Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 9 (1,022,969)
Citation 2
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DSGE Model, Fiscal Policy, Liquidity Trap, Monetary Policy, Open Economy Macroeconomics, Zero Bound Constraint

24.

Optimal Monetary Policy with Distinct Core and Headline Inflation Rates

FRB International Finance Discussion No. 941
Number of pages: 48 Posted: 01 Nov 2008
Martin Bodenstein, Christopher J. Erceg and Luca Guerrieri
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 59 (607,849)
Citation 15

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Energy-price shocks, monetary policy tradeoffs, DSGE models

25.

Asymmetric Shocks in a Currency Union with Monetary and Fiscal Handcuffs

FRB International Finance Discussion Paper No. 1012
Number of pages: 63 Posted: 28 Feb 2011
Christopher J. Erceg and Jesper Lindé
Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 57 (618,189)
Citation 9

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Monetary policy, fiscal policy, liquidity trap, zero bound constraint, open economy macroeconomics, DSGE model

26.

The Macroeconomic Risks of Undesirably Low Inflation

International Finance Discussion Paper No. 1162
Number of pages: 49 Posted: 04 May 2016 Last Revised: 21 Sep 2016
Jonas Arias, Christopher J. Erceg and Mathias Trabandt
Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and Goethe University in Frankfurt
Downloads 56 (623,391)
Citation 8

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Inflation Expectations, Wages, Productivity, disinflation, Monetary Policy, Liquidity Trap, DSGE Model

27.

Three Great American Disinflations

Downloads 54 (628,556)
Citation 3

Three Great American Disinflations

NBER Working Paper No. w12982
Number of pages: 43 Posted: 23 Mar 2007 Last Revised: 23 Dec 2022
Michael D. Bordo, Christopher J. Erceg, Andrew T. Levin and Ryan Michaels
Rutgers University, New Brunswick - Department of Economics, Board of Governors of the Federal Reserve System, affiliation not provided to SSRN and University of Michigan at Ann Arbor - Department of Economics
Downloads 54 (646,178)
Citation 3

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Three Great American Disinflations

CFS Working Paper No. 2007/05, FRB International Finance Discussion Paper No. 898
Posted: 07 Mar 2007
Michael D. Bordo, Christopher J. Erceg, Andrew T. Levin and Ryan Michaels
Rutgers University, New Brunswick - Department of Economics, Board of Governors of the Federal Reserve System, affiliation not provided to SSRN and University of Michigan at Ann Arbor - Department of Economics

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monetary policy regimes, transparency, credibility, sacrifice ratio

28.

Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?

NBER Working Paper No. w21426
Number of pages: 101 Posted: 03 Aug 2015 Last Revised: 19 Jul 2023
Olivier J. Blanchard, Olivier J. Blanchard, Christopher J. Erceg and Jesper Lindé
National Bureau of Economic Research (NBER)Peterson Institute for International Economics, Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 44 (692,192)
Citation 22

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29.

Is There a Fiscal Free Lunch in a Liquidity Trap?

CEPR Discussion Paper No. DP7624
Number of pages: 61 Posted: 18 Jan 2010
Christopher J. Erceg and Jesper Lindé
Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 7 (1,003,376)
Citation 15
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DSGE Model, Fiscal Policy, Liquidity Trap, Monetary Policy, Zero Bound Constraint

30.

The Transmission of Domestic Shocks in Open Economies

CEPR Discussion Paper No. DP6574
Number of pages: 73 Posted: 06 Jun 2008
Christopher J. Erceg, Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 3 (1,032,037)
Citation 4
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imported intermediate inputs, open economy Phillips Curve, variable markups