Carlos Garriga

Federal Reserve Banks - Research Division

P.O. Box 442

St. Louis, MO 63166-0442

United States

SCHOLARLY PAPERS

41

DOWNLOADS
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SSRN RANKINGS

Top 25,295

in Total Papers Downloads

3,887

SSRN CITATIONS
Rank 4,679

SSRN RANKINGS

Top 4,679

in Total Papers Citations

309

CROSSREF CITATIONS

88

Scholarly Papers (41)

1.

The Economic Effects of Real Estate Investors

Garriga, C., Gete, P., & Tsouderou, A. (2022). The Economic Effects of Real Estate Investors. Real Estate Economics, forthcoming.
Number of pages: 80 Posted: 07 May 2020 Last Revised: 22 Dec 2022
Carlos Garriga, Pedro Gete and Athena Tsouderou
Federal Reserve Banks - Research Division, IE Business School and University of Miami
Downloads 342 (167,479)
Citation 15

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Institutional investors, house prices, housing affordability, supply elasticity, propensity to invest.

2.
Downloads 276 (209,867)
Citation 1

Reconstructing the Great Recession

FRB of St. Louis Working Paper No. 2013-006B
Number of pages: 38 Posted: 14 Feb 2013 Last Revised: 18 Jul 2013
Washington University in St. Louis, Federal Reserve Banks - Research Division, Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. LouisFederal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 156 (356,106)

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residential investment, multisector models, business cycle accounting

Reconstructing the Great Recession

Number of pages: 42 Posted: 19 Aug 2020
Washington University in St. Louis, Federal Reserve Banks - Research Division, International Monetary Fund (IMF) and Federal Reserve Banks - Federal Reserve Bank of St. LouisFederal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 120 (439,110)
Citation 1

Abstract:

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3.

A General Equilibrium Theory of College with Education Subsidies, In-School Labor Supply, and Borrowing Constraints

Number of pages: 40 Posted: 04 Dec 2007
Carlos Garriga and Mark P. Keightley
Federal Reserve Banks - Research Division and affiliation not provided to SSRN
Downloads 258 (224,497)
Citation 3

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Student Loans, Education Subsidies, Higher Education

4.

Mortgage Debt, Consumption, and Illiquid Housing Markets in the Great Recession

FRB St. Louis Working Paper No. 2017-30
Number of pages: 72 Posted: 28 Nov 2017
Carlos Garriga and Aaron Hedlund
Federal Reserve Banks - Research Division and University of Missouri
Downloads 251 (230,757)
Citation 43

Abstract:

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Housing, Consumption, Liquidity, Debt, Great Recession

5.

Inflation, Part 3: What is the Fed's Current Goal? Has the Fed Met its Inflation Mandate?

Economic Synopses, No. 25, 2022
Number of pages: 3 Posted: 06 Sep 2022
Carlos Garriga and Devin Werner
Federal Reserve Banks - Research Division and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 209 (274,785)

Abstract:

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inflation

6.

Household Debt and the Great Recession

Number of pages: 24 Posted: 14 Apr 2017 Last Revised: 15 Oct 2019
Carlos Garriga, Bryan Noeth and Don Schlagenhauf
Federal Reserve Banks - Research Division, Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 207 (277,249)

Abstract:

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7.

A Model of Price Swings in the Housing Market

FRB of St. Louis Working Paper No. 2012-022A
Number of pages: 30 Posted: 18 Jul 2012
Federal Reserve Banks - Research Division, Washington University in St. Louis and Federal Reserve Bank of St. Louis
Downloads 181 (312,859)
Citation 18

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Residential investment, mortgages rates

8.
Downloads 146 (375,695)
Citation 46

Mortgages and Monetary Policy

FRB of St. Louis Working Paper No. 2013-037A
Number of pages: 59 Posted: 07 Dec 2013
Carlos Garriga, Finn Kydland and Roman Šustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Queen Mary, University of London
Downloads 50 (744,122)
Citation 1

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mortgages, debt servicing costs, monetary policy, transmission mechanism, housing investment

Mortgages and Monetary Policy

FRB St. Louis Working Paper No. 2015-33
Number of pages: 55 Posted: 23 May 2016 Last Revised: 06 Mar 2019
Carlos Garriga, Finn Kydland and Roman Šustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Queen Mary, University of London
Downloads 49 (750,892)
Citation 16

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Mortgage finance, monetary policy, general equilibrium, housing investment, redistribution

Mortgages and Monetary Policy

NBER Working Paper No. w19744
Number of pages: 71 Posted: 20 Dec 2013 Last Revised: 14 Jun 2023
Carlos Garriga, Finn Kydland and Roman Sustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Bank of England - Monetary Assessment and Strategy Division
Downloads 47 (764,573)
Citation 21

Abstract:

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9.

The Loan Structure and Housing Tenure Decisions in an Equilibrium Model of Mortgage Choice

FRB of St. Louis Working Paper No. 2008-024A
Number of pages: 45 Posted: 17 Jul 2008 Last Revised: 28 Jan 2009
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 145 (377,829)
Citation 29

Abstract:

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Housing finance, first-time buyers, life-cycle

10.

Crises in the Housing Market: Causes, Consequences, and Policy Lessons

FRB St. Louis Working Paper No. 2019-33
Number of pages: 41 Posted: 27 Nov 2019
Carlos Garriga and Aaron Hedlund
Federal Reserve Banks - Research Division and University of Missouri
Downloads 144 (379,851)

Abstract:

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housing, mortgages, debt, crisis, foreclosures

11.

Accounting for Changes in the Homeownership Rate

Number of pages: 50 Posted: 31 Aug 2007
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 138 (392,746)

Abstract:

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Mortgage innovation, heterogeneity, life cycle

12.

Mortgage Contracts and Housing Tenure Decisions

Number of pages: 41 Posted: 17 Sep 2007
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 129 (413,982)
Citation 4

Abstract:

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Housing finance, first-time buyers, life-cycle

13.

Optimal Fiscal Policy in the Design of Social Security Reforms

Number of pages: 37 Posted: 31 Aug 2007
Juan Carlos Conesa and Carlos Garriga
University of Barcelona and Federal Reserve Banks - Research Division
Downloads 109 (469,711)
Citation 6

Abstract:

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Optimal Taxation, Ramsey Policies, and Constrained Optima

14.

The Limited Impact of Free College Policies

Number of pages: 51 Posted: 23 Jan 2023
Federal Reserve Banks - Research Division, World Bank, affiliation not provided to SSRN and Georgetown University
Downloads 103 (489,080)

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higher education, free college, financial aid. JEL codes: E24, I21

15.

Equilibrium Mortgage Choice and Housing Tenure Decisions With Refinancing

Number of pages: 56 Posted: 09 Nov 2007
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 98 (505,895)
Citation 1

Abstract:

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Housing finance, first-time buyers, life-cycle

16.

The Tax Treatment of Homeowners and Landlords and the Progressivity of Income Taxation

FRB of St. Louis Working Paper No. 2007-053A
Number of pages: 42 Posted: 21 Dec 2007
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 97 (509,194)
Citation 1

Abstract:

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Incomplete markets, heterogeneous consumers

17.

Optimal Response to a Transitory Demographic Shock in Social Security Financing

FRB of St. Louis Working Paper No. 2007-041A
Number of pages: 36 Posted: 15 Sep 2007
Juan Carlos Conesa and Carlos Garriga
University of Barcelona and Federal Reserve Banks - Research Division
Downloads 96 (512,666)
Citation 2

Abstract:

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Optimal taxation, Ramsey Policies, Constrained Optima

18.

Optimal Response to a Demographic Shock

Number of pages: 31 Posted: 04 Feb 2005
Juan C. Conesa and Carlos Garriga
Universitat Pompeu Fabra and Federal Reserve Banks - Research Division
Downloads 84 (557,575)

Abstract:

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19.

Optimal Taxation With Imperfect Competition and Aggregate Returns to Specialization

Number of pages: 31 Posted: 31 Aug 2007
University of East Anglia (UEA) - School of Economic and Social Studies, Federal Reserve Banks - Research Division and University of Barcelona - Department of Economic Theory
Downloads 76 (591,117)
Citation 1

Abstract:

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Optimal taxation, returns to specialization, monopolistic competition

Did Housing Policies Cause the Postwar Boom in Homeownership?

FRB of St. Louis Working Paper No. 2012-021A
Number of pages: 37 Posted: 18 Jul 2012 Last Revised: 18 Feb 2013
Matthew Chambers, Don Schlagenhauf and Carlos Garriga
Towson University, Florida State University and Federal Reserve Banks - Research Division
Downloads 47 (764,573)

Abstract:

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Housing …finance, fi…rst-time buyers, life-cycle

Did Housing Policies Cause the Postwar Boom in Homeownership?

NBER Working Paper No. w18821
Number of pages: 37 Posted: 22 Feb 2013 Last Revised: 05 Jun 2023
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 27 (930,579)
Citation 1

Abstract:

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21.

Rural-Urban Migration, Structural Transformation, and Housing Markets in China

NBER Working Paper No. w23819
Number of pages: 49 Posted: 18 Sep 2017 Last Revised: 03 Apr 2023
Carlos Garriga, Aaron Hedlund, Yang Tang and Ping Wang
Federal Reserve Banks - Research Division, University of Missouri, Nanyang Technological University (NTU) and Washington University in St. Louis - Department of Economics
Downloads 73 (604,470)
Citation 8

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22.

Generational Policy and the Macroeconomic Measurement of Tax Incidence

FRB of St. Louis Working Paper No. 2009-003A
Number of pages: 35 Posted: 29 Jan 2009
Juan Carlos Conesa and Carlos Garriga
University of Barcelona and Federal Reserve Banks - Research Division
Downloads 70 (618,489)

Abstract:

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Generational Accounting, Ramsey Taxation

23.

The Geography of Housing Market Liquidity During the Great Recession

Number of pages: 101 Posted: 29 Apr 2020
Matthew Famiglietti, Carlos Garriga and Aaron Hedlund
Independent, Federal Reserve Banks - Research Division and University of Missouri
Downloads 65 (642,974)

Abstract:

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24.

The Postwar Conquest of the Home Ownership Dream

FRB St. Louis Working Paper No. 2016-7
Number of pages: 60 Posted: 27 Apr 2016 Last Revised: 03 Jan 2019
Matthew Chambers, Carlos Garriga and Don Schlagenhauf
Towson University, Federal Reserve Banks - Research Division and Florida State University
Downloads 60 (669,217)

Abstract:

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Housing finance, first-time buyers, life-cycle

25.
Downloads 59 (674,843)
Citation 2

Nominal Rigidities in Debt and Product Markets

FRB St. Louis Working Paper No. 2016-17
Number of pages: 54 Posted: 25 Aug 2016 Last Revised: 05 Jan 2019
Carlos Garriga, Finn Kydland and Roman Sustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Bank of England - Monetary Assessment and Strategy Division
Downloads 38 (832,700)

Abstract:

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Mortgage contracts, sticky prices, monetary policy, yield curves, redistributive vs. aggregate effects.

Nominal Rigidities in Debt and Product Markets

NBER Working Paper No. w22613
Number of pages: 54 Posted: 12 Sep 2016 Last Revised: 16 Apr 2023
Carlos Garriga, Finn Kydland and Roman Šustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Queen Mary, University of London
Downloads 21 (992,252)

Abstract:

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26.

Investors in Housing Markets: Comparing Two Booms

Number of pages: 43 Posted: 18 Jan 2024
Carlos Garriga, Pedro Gete and Athena Tsouderou
Federal Reserve Banks - Research Division, IE Business School and University of Miami
Downloads 54 (703,182)

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Residential investment, rental yields, capital gains, mortgages, biases, housing, flipping.

27.

Indirect Taxation and the Welfare Effects of Altruism on the Optimal Fiscal Policy

Federal Reserve Bank of St. Louis Working Paper No. 2009-47A
Number of pages: 22 Posted: 21 Sep 2009
Carlos Garriga and Fernando Sánchez Losada
Federal Reserve Banks - Research Division and University of Barcelona - Department of Economic Theory
Downloads 54 (703,182)
Citation 1

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optimal taxation, altruism, dynamic general equilibrium

28.

Intergenerational Policy and the Measurement of Tax Incidence

FRB of St. Louis Working Paper No. 2013-016A
Number of pages: 30 Posted: 18 Apr 2013
Juan Carlos Conesa and Carlos Garriga
University of Barcelona and Federal Reserve Banks - Research Division
Downloads 50 (727,618)
Citation 3

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Unfunded liabilities, generational accounts, optimal reforms

29.

Estate Taxation with Warm-Glow Altruism

Number of pages: 23 Posted: 30 Jan 2009
Carlos Garriga and Fernando Sánchez Losada
Federal Reserve Banks - Research Division and University of Barcelona - Department of Economic Theory
Downloads 37 (818,496)

Abstract:

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optimal taxation, altruism, dynamic general equilibrium

30.

Optimal Fiscal Policy in Overlapping Generations Models

FRB St. Louis Working Paper No. 2017-32
Number of pages: 27 Posted: 28 Nov 2017
Carlos Garriga
Federal Reserve Banks - Research Division
Downloads 26 (912,413)
Citation 16

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Optimal taxation, uniform commodity taxation

31.

Inflation, Part 1: What is it, Exactly?

Number of pages: 3 Posted: 23 Jun 2022
Carlos Garriga and Devin Werner
Federal Reserve Banks - Research Division and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 21 (961,289)

Abstract:

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inflation

32.

Are U.S. Housing Markets Hot, Hot, Hot?

Number of pages: 2 Posted: 09 Mar 2022
Matthew Famiglietti, Carlos Garriga and Aaron Hedlund
Federal Reserve Banks - Federal Reserve Bank of St. Louis, Federal Reserve Banks - Research Division and University of Missouri
Downloads 20 (971,561)

Abstract:

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33.

Putting Recent Inflation in Historical Context

Number of pages: 2 Posted: 17 Jun 2021
Matthew Famiglietti and Carlos Garriga
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Research Division
Downloads 20 (971,561)

Abstract:

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inflation

34.

Optimal Management of an Epidemic: Lockdown, Vaccine and Value of Life

FRB St. Louis Working Paper No. 2020-46
Number of pages: 41 Posted: 11 May 2022
Federal Reserve Banks - Research Division, Washington University in St. Louis and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 18 (992,325)
Citation 3

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Optimal Policy, Epidemic, Lockdown, Vaccine, COVID-19, Pandemic

35.

Rural-Urban Migration and House Prices in China

NBER Working Paper No. w28013
Number of pages: 56 Posted: 02 Nov 2020 Last Revised: 17 Jul 2023
Carlos Garriga, Aaron Hedlund, Yang Tang and Ping Wang
Federal Reserve Banks - Research Division, University of Missouri, Nanyang Technological University (NTU) and Washington University in St. Louis - Department of Economics
Downloads 18 (992,325)
Citation 1

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36.

Predicting the Yield Curve Inversions that Predict Recessions: Part 1

Number of pages: 3 Posted: 09 Mar 2022
Matthew Famiglietti and Carlos Garriga
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Research Division
Downloads 16 (1,013,375)

Abstract:

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37.

A Simple Evaluation of Two Decades of Inflation Targeting: Lessons for the New Monetary Policy Strategy

Number of pages: 3 Posted: 14 Jun 2021 Last Revised: 20 Nov 2022
Matthew Famiglietti and Carlos Garriga
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Research Division
Downloads 15 (1,023,964)

Abstract:

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inflation, monetary policy

Monk: Mortgages in a New-Keynesian Model

NBER Working Paper No. w26427
Number of pages: 65 Posted: 06 Nov 2019 Last Revised: 18 Mar 2023
Carlos Garriga, Finn Kydland and Roman Šustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Queen Mary, University of London
Downloads 14 (1,070,394)

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Monk: Mortgages in a New-Keynesian Model

FRB St. Louis Working Paper No. 2019-32
Posted: 06 Dec 2019 Last Revised: 15 Dec 2019
Carlos Garriga, Finn Kydland and Roman Sustek
Federal Reserve Banks - Research Division, Carnegie Mellon University - David A. Tepper School of Business and Charles University in Prague

Abstract:

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Mortgages, cash-flow effects, sticky prices, monetary policy transmission, monetary policy communication

39.

Inflation, Part 2: How Do We Construct and Choose an Index?

Economic Synopses, No. 16, 2022
Number of pages: 3 Posted: 23 Jun 2022 Last Revised: 05 Aug 2022
Carlos Garriga and Devin Werner
Federal Reserve Banks - Research Division and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 12 (1,055,024)

Abstract:

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inflation, consumer price index (CPI), personal consumption expenditures (PCE)

40.

Construction Permits and Future Housing Supply: Implications for 2020

Number of pages: 3 Posted: 09 Mar 2022
Matthew Famiglietti, Carlos Garriga and Aaron Hedlund
Federal Reserve Banks - Federal Reserve Bank of St. Louis, Federal Reserve Banks - Research Division and University of Missouri
Downloads 11 (1,065,301)

Abstract:

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41.

Predicting the Yield Curve Inversions that Predict Recessions: Part 2

Number of pages: 2 Posted: 09 Mar 2022
Matthew Famiglietti and Carlos Garriga
Federal Reserve Banks - Federal Reserve Bank of St. Louis and Federal Reserve Banks - Research Division
Downloads 11 (1,065,301)

Abstract:

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