Christopher J. Erceg

Board of Governors of the Federal Reserve System

Senior Associate Director - International Finance Division

20th St. and Constitution Ave.

Washington, DC 20551

United States

SCHOLARLY PAPERS

30

DOWNLOADS
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Top 9,359

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4,813

CITATIONS
Rank 558

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Top 558

in Total Papers Citations

879

Scholarly Papers (30)

1.

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

FRB International Finance Discussion Paper No. 729
Number of pages: 64 Posted: 21 Jul 2003
National University of Ireland, Galway (NUIG) - 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 - Division of International Finance, Federal Reserve Board - Trade and Financial Studies, Federal Reserve Board - Division of Monetary Affairs, Board of Governors of the Federal Reserve System - Trade and Financial Studies Section, Federal Reserve Board and Johns Hopkins University - Department of Economics
Downloads 1,542 (10,754)
Citation 41

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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 J. Gust
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Federal Reserve Board - Trade and Financial Studies
Downloads 425 (66,008)
Citation 59

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SDGE model, open-economy macroeconomics

3.

Optimal Monetary Policy with Staggered Wage and Price Contracts

International Finance Working Paper No. 640
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 410 (68,900)
Citation 334

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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
affiliation not provided to SSRN, Board of Governors of the Federal Reserve System, Government of Canada - Bank of Canada, University of Palermo, Bank of England, 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, DGECFIN, Queen's University - Department of Economics, Board of Governors of the Federal Reserve System and European Union - Directorate General for Economic and Financial Affairs (DG ECFIN)
Downloads 341 (85,466)
Citation 18

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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.
Downloads 257 (116,004)
Citation 39

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 208 (142,725)
Citation 39

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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: 06 Oct 2010
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 49 (389,354)
Citation 39

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6.

Imperfect Credibility and Inflation Persistence

FEDS Working Paper No. 2001-45
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 179 (164,133)
Citation 119

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Monetary policy, disinflation, sacrifice ratio, signal extraction

7.

Expansionary Fiscal Shocks and the Trade Deficit

FRB International Finance Discussion Paper No. 825
Number of pages: 50 Posted: 05 Feb 2005
Christopher J. Erceg, Luca Guerrieri and Christopher J. Gust
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Federal Reserve Board - Trade and Financial Studies
Downloads 174 (168,308)
Citation 42

Abstract:

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DGE model, open-economy macroeconomics

8.

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 Federal Reserve Board - Trade and Financial Studies
Downloads 160 (180,979)
Citation 18

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Oil-price shocks, trade, DSGE models

9.

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

FRB International Finance Discussion Paper No. 627
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 147 (194,242)
Citation 5

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10.

Can Long-Run Restrictions Identify Technology Shocks?

FRB International Finance Discussion Paper No. 792
Number of pages: 56 Posted: 17 Feb 2004
Christopher J. Erceg, Luca Guerrieri and Christopher J. Gust
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Federal Reserve Board - Trade and Financial Studies
Downloads 131 (213,158)
Citation 40

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Technology shocks, vector autoregressions, real business cycle models

11.

Optimal Monetary Policy with Durable and Non-Durable Goods

FRB International Finance Discussion Paper No. 748
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 125 (220,971)
Citation 37

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VAR analysis, DGE models, sectoral disaggregation

12.

Optimal Monetary Policy with Durable Goods and Non-Durable Goods

ECB Working Paper No. 179
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 121 (226,408)
Citation 29

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VAR analysis, DGE models, sectoral disaggregation

13.

Nominal Wage Rigidities and the Propagation of Monetary Disturbances

FRB International Finance Discussion Paper No. 590
Number of pages: 54 Posted: 12 Apr 1998
Christopher J. Erceg
Board of Governors of the Federal Reserve System
Downloads 109 (244,338)
Citation 18

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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 73 (318,084)
Citation 1

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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 (617,836)
Citation 1
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labor force, policy tradeoffs, simple rules, unemployment rate

15.

Trade Adjustment and the Composition of Trade

Number of pages: 47 Posted: 19 May 2006
Christopher J. Erceg, Luca Guerrieri and Christopher J. Gust
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Federal Reserve Board - Trade and Financial Studies
Downloads 66 (332,312)
Citation 8

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SDGE model, open-economy macroeconomics

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 60 (353,508)

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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 (624,668)
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currency union, fiscal policy, monetary policy, New Keynesian Small Open Economy DSGE Model, zero lower bound constraint

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, Christopher J. Erceg and Jesper Lindé
National Bureau of Economic Research (NBER), Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 63 (340,382)

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

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 J. Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Board of Governors of the Federal Reserve System
Downloads 40 (423,462)
Citation 9

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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: 13 Sep 2010
Christopher J. Erceg, Christopher J. Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Board of Governors of the Federal Reserve System
Downloads 13 (571,687)
Citation 9

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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 Federal Reserve Board - Trade and Financial Studies
Downloads 47 (396,679)
Citation 9

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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 Federal Reserve Board - Trade and Financial Studies
Downloads 4 (631,867)
Citation 9
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DSGE models, spillover effects, zero lower bound

The Effects of Foreign Shocks When Interest Rates are at Zero

Canadian Journal of Economics/Revue canadienne d'économique, Vol. 50, Issue 3, pp. 660-684, 2017
Number of pages: 25 Posted: 14 Aug 2017
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 Federal Reserve Board - Trade and Financial Studies
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Citation 9
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20.

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, Federal Reserve Board - Trade and Financial Studies and Board of Governors of the Federal Reserve System
Downloads 48 (386,198)
Citation 1

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oil prices, SDGE models, monetary policy

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 32 (458,423)
Citation 1

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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 (597,858)
Citation 1
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DSGE Model, Fiscal Policy, Liquidity Trap, Monetary Policy, Open Economy Macroeconomics, Zero Bound Constraint

22.

Money-Financed Fiscal Programs: A Cautionary Tale

FEDS Working Paper No. 2017-060
Number of pages: 48 Posted: 05 Jun 2017
William B. English, Christopher J. Erceg and David Lopez-Salido
Government of the United States of America - Division of Monetary Affairs, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 40 (414,843)

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DSGE Model, Fiscal policy, Liquidity Trap, Monetary policy, Currency union

23.
Downloads 38 (418,630)
Citation 6

Three Great American Disinflations

NBER Working Paper No. w12982
Number of pages: 43 Posted: 23 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
Downloads 38 (431,861)
Citation 6

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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

24.

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 33 (443,104)
Citation 4

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

25.

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 Federal Reserve Board - Trade and Financial Studies
Downloads 33 (443,104)
Citation 10

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Energy-price shocks, monetary policy tradeoffs, DSGE models

26.

Some Implications of Uncertainty and Misperception for Monetary Policy

FEDS Working Paper No. 2018-059
Number of pages: 40 Posted: 29 Aug 2018 Last Revised: 21 Feb 2019
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 30 (456,555)

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Stochastic simulation, Mismeasurement, Monetary policy, Policy analysis, Uncertainty

27.

The Macroeconomic Risks of Undesirably Low Inflation

FRB International Finance Discussion Paper No. 1162
Number of pages: 49 Posted: 04 May 2016
Jonas Arias, Christopher J. Erceg and Mathias Trabandt
Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 30 (456,555)

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

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
Olivier J. Blanchard, Christopher J. Erceg and Jesper Lindé
National Bureau of Economic Research (NBER), Board of Governors of the Federal Reserve System and Sveriges Riksbank - Research Division
Downloads 12 (555,677)

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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 (585,381)
Citation 22
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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 J. Gust and J. David López-Salido
Board of Governors of the Federal Reserve System, Federal Reserve Board - Trade and Financial Studies and Board of Governors of the Federal Reserve System
Downloads 3 (611,686)
Citation 9
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imported intermediate inputs, open economy Phillips Curve, variable markups