David Lopez-Salido

Board of Governors of the Federal Reserve System

Associate Director - Monetary Affairs

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

SCHOLARLY PAPERS

71

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2,864

Scholarly Papers (71)

1.
Downloads 1,150 (34,656)
Citation 4

Inflation at Risk

Number of pages: 49 Posted: 01 Mar 2022 Last Revised: 20 Feb 2024
David Lopez-Salido and Francesca Loria
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 738 (63,199)
Citation 5

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Inflation Risks, Quantile Regression

Inflation at Risk

FEDS Working Paper No. 2020-013 https://doi.org/10.17016/FEDS.2020.013
Number of pages: 65 Posted: 14 May 2020
David Lopez-Salido and Francesca Loria
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 412 (130,338)
Citation 2

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Quantile regression; Inflation risks

2.

Understanding the New Normal: The Role of Demographics

FEDS Working Paper No. 2016-080
Number of pages: 74 Posted: 17 Oct 2016
Etienne Gagnon, Benjamin K. Johannsen 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 1,133 (35,392)
Citation 13

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Demographics, Equilibrium real interest rate, GDP growth, New normal

3.

Understanding UK Inflation: The Role of Openness

Bank of England Working Paper No. 164
Number of pages: 54 Posted: 09 Mar 2003
Ravi Balakrishnan and David Lopez-Salido
International Monetary Fund (IMF) - Fiscal Affairs Department and Board of Governors of the Federal Reserve System
Downloads 602 (82,968)
Citation 24

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Inflation dynamics, open economy New Phillips Curve

Understanding the Effects of Government Spending on Consumption

ECB Working Paper No. 339, FRB International Finance Discussion Paper No. 805
Number of pages: 56 Posted: 25 Aug 2004
Jordi Galí, David Lopez-Salido and Javier Vallés
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Board of Governors of the Federal Reserve System and Government of the Kingdom of Spain - Economic Bureau of the President
Downloads 461 (114,086)
Citation 23

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rule-of-thumb consumers, scal multiplier, government spending, Taylor rules

Understanding the Effects of Government Spending on Consumption

NBER Working Paper No. w11578
Number of pages: 54 Posted: 17 Oct 2005 Last Revised: 20 Feb 2022
Jordi Galí, David Lopez-Salido and Javier Vallés
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Board of Governors of the Federal Reserve System and Government of the Kingdom of Spain - Economic Bureau of the President
Downloads 108 (459,375)
Citation 175

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Understanding the Effects of Government Spending on Consumption

CEPR Discussion Paper No. 5212
Number of pages: 57 Posted: 07 Oct 2005
Jordi Galí, David Lopez-Salido and Javier Vallés
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Board of Governors of the Federal Reserve System and Government of the Kingdom of Spain - Economic Bureau of the President
Downloads 23 (939,330)
Citation 47
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Rule-of-thumb consumers, non-Ricardian households, fiscal multiplier, government spending, Taylor rules

5.

Reserve Demand, Interest Rate Control, and Quantitative Tightening

Number of pages: 56 Posted: 03 Mar 2023 Last Revised: 25 Oct 2023
David Lopez-Salido and Annette Vissing-Jorgensen
Board of Governors of the Federal Reserve System and Federal Reserve Board
Downloads 522 (99,259)
Citation 2

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6.

Financial Stability and Optimal Interest-Rate Policy

FEDS Working Paper No. 2016-67
Number of pages: 72 Posted: 19 Aug 2016 Last Revised: 21 Sep 2016
Andrea Ajello, Thomas Laubach, David Lopez-Salido and Taisuke Nakata
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System (deceased), Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 507 (102,913)
Citation 16

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7.
Downloads 381 (143,682)
Citation 50

Housing Bubbles

Banco de Espana Working Paper No. 0815
Number of pages: 53 Posted: 04 Aug 2008
Oscar Arce and David Lopez-Salido
Banco de España and Board of Governors of the Federal Reserve System
Downloads 377 (144,253)
Citation 34

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collateral constraints, buy-to-let investment, housing bubbles, switching bubbles, welfare

Housing Bubbles

CEPR Discussion Paper No. DP6932
Number of pages: 50 Posted: 02 Dec 2008
Oscar Arce and David Lopez-Salido
Banco de España and Board of Governors of the Federal Reserve System
Downloads 4 (1,131,261)
Citation 5
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buy-to-let investment, collateral constraints, housing bubbles, switching

8.
Downloads 330 (168,285)
Citation 85

Credit-Market Sentiment and the Business Cycle

FEDS Working Paper No. 2015-028r1, http://dx.doi.org/10.17016/FEDS.2015.028r1
Number of pages: 57 Posted: 24 May 2015
David Lopez-Salido, Jeremy C. Stein and Egon Zakrajsek
Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Bank for International Settlements (BIS)
Downloads 172 (316,130)

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business cycles, credit-market sentiment, financial stability

Credit-Market Sentiment and the Business Cycle

FEDS Working Paper No. 2015-28
Number of pages: 57 Posted: 11 Jan 2017
David Lopez-Salido, Jeremy C. Stein and Egon Zakrajsek
Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Bank for International Settlements (BIS)
Downloads 121 (421,341)
Citation 1

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Business cycles, Credit-market sentiment, Financial stability

Credit-Market Sentiment and the Business Cycle

NBER Working Paper No. w21879
Number of pages: 46 Posted: 20 Jan 2016 Last Revised: 14 Apr 2023
David Lopez-Salido, Jeremy C. Stein and Egon Zakrajsek
Board of Governors of the Federal Reserve System, Harvard University - Department of Economics and Bank for International Settlements (BIS)
Downloads 37 (813,995)
Citation 61

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Risk-Adjusted Linearizations of Dynamic Equilibrium Models

Number of pages: 44 Posted: 05 Jul 2015 Last Revised: 12 May 2022
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 266 (209,366)
Citation 2

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Perturbation methods, Risky steady state, Macroeconomic uncertainty, Intertemporal risk prices, Risk-return tradeoff

Risk-Adjusted Linearizations of Dynamic Equilibrium Models

Banque de France Working Paper No. 702
Number of pages: 42 Posted: 11 Dec 2018
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 48 (732,941)
Citation 5

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Perturbation methods, Risky steady state, Macroeconomic uncertainty, Intertemporal risk prices, Risk-return tradeoff

10.

Inflation Persistence and Optimal Monetary Policy in the Euro Area

Number of pages: 42 Posted: 14 Jan 2003
Pierpaolo Benigno and David Lopez-Salido
University of Bern - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 276 (202,866)
Citation 1

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Optimal Monetary Policy, Currency Areas, Inflation Dynamics

Nominal Rigidities and the Term Structures of Equity and Bond Returns

Number of pages: 44 Posted: 05 Jul 2015 Last Revised: 24 Jul 2015
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 141 (373,692)
Citation 4

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Structural term structure modeling, Equity and bond yields, Habit formation, Nominal rigidities

Nominal Rigidities and the Term Structures of Equity and Bond Returns

FEDS Working Paper No. 2015-064, http://dx.doi.org/10.17016/FEDS.2015.064
Number of pages: 45 Posted: 25 Aug 2015
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 126 (408,669)
Citation 4

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Equity and bond yields, Habit formation, Nominal rigidities, Structural term structure modeling

12.

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 231 (241,756)
Citation 2

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

13.

European Inflation Dynamics

NBER Working Paper No. w8218
Number of pages: 40 Posted: 29 Mar 2001 Last Revised: 17 Dec 2022
Jordi Galí, Mark Gertler and David Lopez-Salido
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), New York University - Leonard N. Stern School of Business - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 192 (286,902)
Citation 21

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House Prices, Rents, and Interest Rates Under Collateral Constraints

Banco de Espana Research Paper No. WP-0610
Number of pages: 45 Posted: 08 May 2006
Oscar Arce and David Lopez-Salido
Banco de España and Board of Governors of the Federal Reserve System
Downloads 168 (322,687)
Citation 24

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price-to-rent ratio, collateral constraints, buy-to-let investment, multiple equilibria

House Prices, Rents and Interest Rates Under Collateral Constraints

CEPR Discussion Paper No. 5689
Number of pages: 42 Posted: 02 Aug 2006
Oscar Arce and David Lopez-Salido
Banco de España and Board of Governors of the Federal Reserve System
Downloads 22 (949,414)
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Price-to-rent ratio, collateral constraints, buy-to-let investment, multiple equilibria

15.

Labor Market Effects of Technology Shocks

Banco de España Research Paper No. WP-0719
Number of pages: 68 Posted: 03 Jul 2007
Fabio Canova, David Lopez-Salido and Claudio Michelacci
BI Norwegian Business School, Board of Governors of the Federal Reserve System and Centre for Monetary and Financial Studies (CEMFI)
Downloads 187 (293,882)
Citation 37

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search frictions, technological progress, creative

The Empirical Implications of the Interest-Rate Lower Bound

FEDS Working Paper No. 2012-83
Number of pages: 76 Posted: 08 Jan 2013
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 Hutchin Hill Capital
Downloads 159 (338,518)
Citation 29

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Zero lower bound, DSGE model, Bayesian estimation

The Empirical Implications of the Interest-Rate Lower Bound

FEDS Working Paper No. 2012-83
Number of pages: 57 Posted: 19 Jul 2021
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 affiliation not provided to SSRN
Downloads 18 (1,002,177)

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The Empirical Implications of the Interest-Rate Lower Bound

CEPR Discussion Paper No. DP9214
Number of pages: 59 Posted: 01 Feb 2013
Christopher Gust, David Lopez-Salido and Matthew E. Smith
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Hutchin Hill Capital
Downloads 4 (1,131,261)
Citation 88
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Bayesian estimation, DSGE model, zero lower bound

17.

Government Spending and Consumption-Hours Preferences

"la Caixa" Working Paper No. 02/2006
Number of pages: 54 Posted: 06 Sep 2007
Pau Rabanal and David Lopez-Salido
La Caixa and Board of Governors of the Federal Reserve System
Downloads 179 (305,466)
Citation 5

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Non-Ricardian Consumers, Nonseparable Preferences, Fiscal Policy

Markups, Gaps, and the Welfare Costs of Business Fluctuations

UPF Economics and Business Working Paper 836
Number of pages: 46 Posted: 29 Nov 2005
Jordi Galí, Mark Gertler and David Lopez-Salido
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), New York University - Leonard N. Stern School of Business - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 66 (626,495)
Citation 2

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Business cycles, countercyclical markups, welfare costs

Markups, Gaps, and the Welfare Costs of Business Fluctuations

NBER Working Paper No. w8850
Number of pages: 47 Posted: 01 Jun 2006 Last Revised: 04 Apr 2022
Jordi Galí, Mark Gertler and David Lopez-Salido
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), New York University - Leonard N. Stern School of Business - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 48 (732,941)
Citation 7

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Markups, Gaps and the Welfare Costs of Business Fluctuations

Number of pages: 46 Posted: 03 Jan 2004
Jordi Galí, Mark Gertler and David Lopez-Salido
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), New York University - Leonard N. Stern School of Business - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 24 (929,418)
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Markups, Gaps and the Welfare Costs of Business Fluctuations

Number of pages: 37 Posted: 19 Mar 2002
Jordi Galí, Mark Gertler and David Lopez-Salido
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), New York University - Leonard N. Stern School of Business - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 20 (970,240)
Citation 31
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Business cycles, countercyclical markups, welfare costs

19.

Sticky-Price Models and the Natural Rate Hypothesis

FRB of St. Louis Working Paper No. 2005-018A
Number of pages: 36 Posted: 29 Jul 2005
Javier Andrés, David Lopez-Salido and Edward Nelson
University of Valencia - Department of Economics, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 143 (369,050)
Citation 14

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20.

Small Price Responses to Large Demand Shocks

FEDS Working Paper No. 2014-18
Number of pages: 45 Posted: 07 Mar 2014
Etienne Gagnon and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 140 (375,272)
Citation 35

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Demand shocks, inflation, sales, labor conflicts, mass population displacement, severe weather events

21.

From Taylor'S Rule to Bernanke'S Temporary Price Level Targeting

FEDS Working Paper No. 2018-51
Number of pages: 46 Posted: 23 Jul 2018 Last Revised: 21 Feb 2019
James Hebden and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 136 (383,705)
Citation 3

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Monetary Policy and Real Borrowing Costs at the Zero Lower Bound

FEDS Working Paper No. 2014-39
Number of pages: 37 Posted: 07 Jun 2014
Simon Gilchrist, David Lopez-Salido and Egon Zakrajsek
National Bureau of Economic Research (NBER), Board of Governors of the Federal Reserve System and Bank for International Settlements (BIS)
Downloads 64 (637,117)

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Unconventional monetary policy, LSAPs, forward guidance, term premia, corporate bond yields, mortgage interest rates

Monetary Policy and Real Borrowing Costs at the Zero Lower Bound

FEDS Working Paper No. 2014-03
Number of pages: 38 Posted: 05 Feb 2014
Simon Gilchrist, David Lopez-Salido and Egon Zakrajsek
National Bureau of Economic Research (NBER), Board of Governors of the Federal Reserve System and Bank for International Settlements (BIS)
Downloads 43 (768,126)
Citation 2

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Unconventional monetary policy, LSAPs, forward guidance, term premia, corporate bond yields, mortgage interest rates

Monetary Policy and Real Borrowing Costs at the Zero Lower Bound

NBER Working Paper No. w20094
Number of pages: 37 Posted: 06 May 2014 Last Revised: 29 May 2022
Simon Gilchrist, David Lopez-Salido and Egon Zakrajsek
National Bureau of Economic Research (NBER), Board of Governors of the Federal Reserve System and Bank for International Settlements (BIS)
Downloads 24 (929,418)
Citation 29

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Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area

FRB of St. Louis Working Paper No. 2007-005C, Banco de Espana Working Paper No. 0805
Number of pages: 45 Posted: 28 Feb 2007
Javier Andrés, David Lopez-Salido and Edward Nelson
University of Valencia - Department of Economics, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 104 (472,235)
Citation 1

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money, natural rate of interest, New Keynesian models

Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area

CEPR Discussion Paper No. DP6812
Number of pages: 47 Posted: 12 Jun 2008
Javier Andrés, David Lopez-Salido and Edward Nelson
University of Valencia - Department of Economics, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 7 (1,105,528)
Citation 9
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money, natural rate, New Keynesian models

24.

The Federal Reserve's Large-Scale Asset Purchase Programs: Rationale and Effects

FEDS Working Paper No. 2012-85
Number of pages: 58 Posted: 08 Jan 2013
Federal Reserve Bank of Chicago, 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 106 (462,894)
Citation 15

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large-scale asset purchases, history of unconventional monetary policy, monetary transmission mechanism, longer-term interest rates, preferred habitat, duration channel

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 69 (611,618)

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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 31 (864,327)
Citation 1

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26.

The Money View Versus the Credit View

FEDS Working Paper No. 2018-042
Number of pages: 33 Posted: 29 Jun 2018 Last Revised: 21 Feb 2019
Sarah S. Baker, David Lopez-Salido and Edward Nelson
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 94 (502,077)

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Credit view, Money view, Recessions, Financial crises

27.

Accounting for Risk in a Linearized Solution: How to Approximate the Risky Steady State and Perturb Around It

Number of pages: 44 Posted: 31 Jul 2020 Last Revised: 11 May 2022
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 89 (519,755)

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Perturbation methods, Risky steady state, Macroeconomic uncertainty, Risk modeling, Intertemporal choice under uncertainty

28.

Forward Guidance with Bayesian Learning and Estimation

FEDS Working Paper No. 2018-72
Number of pages: 43 Posted: 27 Nov 2018 Last Revised: 21 Feb 2019
Christopher Gust, Edward Herbst 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 87 (527,109)
Citation 4

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29.

The Federal Reserve's Framework for Monetary Policy - Recent Changes and New Questions

FEDS Working Paper No. 2013-76
Number of pages: 69 Posted: 31 May 2017
William B. English, David Lopez-Salido and Robert J. Tetlow
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 (530,921)
Citation 6

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30.

Portfolio Inertia and the Equity Premium

FRB International Finance Discussion Paper No. 984
Number of pages: 41 Posted: 17 Nov 2009
Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 85 (534,597)
Citation 2

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Limited financial market participation, infrequent portfolio adjustment, equity premium

31.

On the Robust Effects of Technology Shocks on Hours Worked and Output

Number of pages: 29 Posted: 25 Jul 2007
Fabio Canova, David Lopez-Salido and Claudio Michelacci
BI Norwegian Business School, Board of Governors of the Federal Reserve System and Centre for Monetary and Financial Studies (CEMFI)
Downloads 82 (546,436)
Citation 6

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Technology disturbances, structural VARs, low frequency movements, news shocks

32.

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
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 78 (562,589)
Citation 1

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33.
Downloads 77 (566,741)
Citation 5

Monetary Policy and the Cyclicality of Risk

International Finance Discussion Paper No. 999
Number of pages: 38 Posted: 24 Jul 2010
Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 73 (592,364)

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limited financial market participation, equity premium, inflation targeting

Monetary Policy and the Cyclicality of Risk

CEPR Discussion Paper No. DP7727
Number of pages: 31 Posted: 17 Mar 2010
Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 4 (1,131,261)
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countercyclical equity premium, monetary policy, portfolio inertia, segmented markets

Rule-of-Thumb Consumers and the Design of Interest Rate Rules

Number of pages: 42 Posted: 13 May 2004
Jordi Galí, David Lopez-Salido and Javier Vallés
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Board of Governors of the Federal Reserve System and Government of the Kingdom of Spain - Economic Bureau of the President
Downloads 20 (970,240)
Citation 4
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Taylor principle, interest rate rules, sticky prices, rule-of-thumb consumers

Monetary Aggregates and Liquidity in a Neo-Wicksellian Framework

National Bank of Belgium Working Paper No. 141
Number of pages: 53 Posted: 02 Oct 2010
Georgetown University, Georgetown University - Department of Economics, Georgetown University and Board of Governors of the Federal Reserve System
Downloads 38 (806,050)
Citation 1

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Monetary Aggregates and Liquidity in a Neo-Wicksellian Framework

NBER Working Paper No. w14244
Number of pages: 48 Posted: 18 Aug 2008 Last Revised: 04 Dec 2022
Georgetown University, Georgetown University - Department of Economics, Georgetown University and Board of Governors of the Federal Reserve System
Downloads 32 (855,615)
Citation 7

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Monetary Aggregates and Liquidity in a Neo-Wicksellian Framework

CEPR Discussion Paper No. DP6813
Number of pages: 49 Posted: 12 Jun 2008
Georgetown University, Georgetown University - Department of Economics, Georgetown University and Board of Governors of the Federal Reserve System
Downloads 2 (1,147,564)
Citation 1
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Banks, Monetary Aggregates

36.
Downloads 70 (597,774)
Citation 20

Individual Price Adjustment Along the Extensive Margin

International Finance Discussion Paper No. 1052
Posted: 14 Jun 2021
Etienne Gagnon, David Lopez-Salido and Nicolas Vincent
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and HEC Montreal - Institute of Applied Economics

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Individual Price Adjustment Along the Extensive Margin

NBER Working Paper No. w18213
Number of pages: 57 Posted: 14 Jul 2012 Last Revised: 08 Apr 2023
Etienne Gagnon, David Lopez-Salido and Nicolas Vincent
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and HEC Montreal - Institute of Applied Economics
Downloads 41 (783,010)
Citation 8

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Individual Price Adjustment Along the Extensive Margin

FRB International Finance Discussion Paper No. 1052
Number of pages: 62 Posted: 18 Sep 2012
Etienne Gagnon, David Lopez-Salido and Nicolas Vincent
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and HEC Montreal - Institute of Applied Economics
Downloads 27 (900,532)

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Inflation, intensive margin, extensive margin

Individual Price Adjustment Along the Extensive Margin

CEPR Discussion Paper No. DP9143
Number of pages: 59 Posted: 28 Sep 2012
Etienne Gagnon, David Lopez-Salido and Nicolas Vincent
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and HEC Montreal - Institute of Applied Economics
Downloads 2 (1,147,564)
Citation 3
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extensive margin, inflation, intensive margin

37.

Macroeconometric Equivalence, Microeconomic Dissonance, and the Design of Monetary Policy

FRB of St. Louis Working Paper No. 2008-035A
Number of pages: 38 Posted: 12 Oct 2008
Andrew T. Levin, David Lopez-Salido, Edward Nelson and Tack Yun
affiliation not provided to SSRN, 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 65 (621,444)
Citation 11

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macroeconometric equivalence, alternative microfoundations, Ramsey optimal monetary policy, welfare analysis

38.

Robustness of the Estimates of the Hybrid New Keynesian Phillips Curve

NBER Working Paper No. w11788
Number of pages: 16 Posted: 24 Feb 2006 Last Revised: 18 Sep 2022
Jordi Galí, Mark Gertler and David Lopez-Salido
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), New York University - Leonard N. Stern School of Business - Department of Economics and Board of Governors of the Federal Reserve System
Downloads 64 (626,472)
Citation 2

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Technology Shocks and Monetary Policy: Assessing the Fed's Performance

NBER Working Paper No. w8768
Number of pages: 29 Posted: 07 Feb 2002 Last Revised: 18 Dec 2022
Jordi Galí, David Lopez-Salido and Javier Vallés
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Board of Governors of the Federal Reserve System and Government of the Kingdom of Spain - Economic Bureau of the President
Downloads 48 (732,941)

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Technology Shocks and Monetary Policy: Assessing the Fed's Performance

Number of pages: 31 Posted: 14 Mar 2002
Jordi Galí, David Lopez-Salido and Javier Vallés
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Board of Governors of the Federal Reserve System and Government of the Kingdom of Spain - Economic Bureau of the President
Downloads 16 (1,012,763)
Citation 4
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Optimal monetary policy, monetary targeting, Taylor Rule, Fed behaviour

40.

Monetary Policy, Incomplete Information, and the Zero Lower Bound

FEDS Working Paper No. 2015-99
Number of pages: 41 Posted: 06 Nov 2015
Christopher Gust, Benjamin K. Johannsen 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 59 (663,276)

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41.

Accounting for Risk in a Linearized Solution: How to Approximate the Risky Steady State and Around It

FRB of Cleveland Working Paper No. 22-14
Number of pages: 46 Posted: 11 May 2022
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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Perturbation methods; Risky steady state; Macroeconomic uncertainty; Solving dynamic equilibrium models; Time-varying risk premia

Short-term Planning, Monetary Policy, and Macroeconomic Persistence

FEDS Working Paper No. 2020-3
Number of pages: 46 Posted: 14 May 2020
Christopher Gust, Edward Herbst 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 52 (706,564)
Citation 2

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Finite-horizon planning; Learning; Monetary policy; New keynesian model; Bayesian estimation

Short-Term Planning, Monetary Policy, and Macroeconomic Persistence

CEPR Discussion Paper No. DP16141
Number of pages: 57 Posted: 14 May 2021
Christopher Gust, Edward Herbst 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
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Citation 4
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Hysteresis Via Endogenous Rigidity in Wages and Participation

FEDS Working Paper No. 2017-44
Number of pages: 43 Posted: 20 Apr 2017 Last Revised: 29 Apr 2020
Cynthia Doniger and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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Hysteresis Via Endogenous Rigidity in Wages and Participation

CEPR Discussion Paper No. DP13263
Number of pages: 45 Posted: 22 Oct 2018
Cynthia Doniger and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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hysteresis, Jobless, Kinked Labor Supply, monopsony, Real Rigid- ity, strategic complementarity

44.

The Macroeconomic Implications of a Key Currency

NBER Working Paper No. w14242
Number of pages: 51 Posted: 20 Aug 2008 Last Revised: 02 Dec 2022
Georgetown University, Georgetown University - Department of Economics, Georgetown University and Board of Governors of the Federal Reserve System
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45.

Patterns of Convergence and Divergence in the Euro Area

NBER Working Paper No. w19561
Number of pages: 39 Posted: 25 Oct 2013 Last Revised: 14 Jun 2023
Ángel Estrada, Jordi Galí and David Lopez-Salido
Banco de España, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Board of Governors of the Federal Reserve System
Downloads 41 (763,320)
Citation 4

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Inflation Dynamics with Search Frictions: A Structural Econometric Analysis

FRB Richmond Working Paper No. 08-1
Number of pages: 52 Posted: 11 Dec 2012
Michael U. Krause, Thomas Lubik and David Lopez-Salido
University of Cologne, Federal Reserve Banks - Federal Reserve Bank of Richmond and Board of Governors of the Federal Reserve System
Downloads 38 (806,050)
Citation 1

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Phillips curve, Bayesian estimation, marginal costs, labor market frictions

Inflation Dynamics with Search Frictions: A Structural Econometric Analysis

CEPR Discussion Paper No. DP6810
Number of pages: 54 Posted: 12 Jun 2008
Michael U. Krause, David Lopez-Salido and Thomas A. Lubik
University of Cologne, Board of Governors of the Federal Reserve System and Johns Hopkins University - Department of Economics
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Citation 3
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Bayesian estimation, labour market frictions, marginal costs, Phillips curve

47.

Supply-Side Effects of Pandemic Mortality: Insights from an Overlapping-Generations Model

FEDS Working Paper No. 2020-060
Number of pages: 19 Posted: 25 Aug 2020
Etienne Gagnon, Benjamin K. Johannsen 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 34 (815,623)

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Pandemics, Potential output, Real wage, Equilibrium real interest rate, Demographics, COVID-19

48.

The Cyclicality of Sales, Regular and Effective Prices: Comment

FEDS Working Paper No. 2015-052, http://dx.doi.org/10.17016/FEDS.2015.052
Number of pages: 26 Posted: 02 Aug 2015
Etienne Gagnon, David Lopez-Salido and Jason Sockin
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and IZA Institute of Labor Economics
Downloads 32 (831,698)
Citation 3

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effective prices, inflation measurement, outlet substitution bias

49.

Nominal Rigidities and the Term Structures of Equity and Bond Returns

FRB of Cleveland Working Paper No. 23-11, https://doi.org/10.26509/frbc-wp-202311
Number of pages: 42 Posted: 11 May 2023
Pierlauro Lopez, David Lopez-Salido and Francisco Vazquez-Grande
Federal Reserve Bank of Cleveland, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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Structural term structure modeling, Equity and bond yields, Habit formation, Nominal rigidities, Macro-finance separation

50.

Consumption and Habits: Evidence from Panel Data

Number of pages: 37 Posted: 13 Nov 2002
Raquel Carrasco, J. Maria Labeaga Azcona and David Lopez-Salido
Charles III University of Madrid - Department of Economics, Universidad Nacional de Educacion a Distancia (UNED) - Faculty of Economics and Board of Governors of the Federal Reserve System
Downloads 27 (873,893)
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Consumption, habits, panel data

51.

Tobin's Imperfect Asset Substitution in Optimizing General Equilibrium

Number of pages: 54 Posted: 12 May 2004
Javier Andrés, David Lopez-Salido and Edward Nelson
University of Valencia - Department of Economics, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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Citation 23
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Transmission mechanism, imperfect asset substitution, monetary policy, term structure

52.

Technology Shocks and Job Flows

Number of pages: 71 Posted: 06 Jul 2004
Claudio Michelacci and David Lopez-Salido
Centre for Monetary and Financial Studies (CEMFI) and Board of Governors of the Federal Reserve System
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Search frictions, technological progress, creative destruction

53.

The Federal Reserves Large-Scale Asset Purchase Programs: Rationale and Effects

CEPR Discussion Paper No. DP9145
Number of pages: 60 Posted: 28 Sep 2012
Federal Reserve Bank of Chicago, 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
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Citation 22
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CUSIP-level data, history of unconventional monetary policy, large-scale asset purchases, monetary transmission mechanism

54.

Limitations on the Effectiveness of Forward Guidance at the Zero Lower Bound

CEPR Discussion Paper No. DP7581
Number of pages: 52 Posted: 11 Jan 2010
Andrew T. Levin, David Lopez-Salido, Edward Nelson and Tack Yun
affiliation not provided to SSRN, 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
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Citation 11
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Forward Guidance, Optimal Policy under Commitment, Zero Lower Bound

55.

The Money View Versus the Credit View

CEPR Discussion Paper No. DP12982
Number of pages: 35 Posted: 11 Jun 2018
David Lopez-Salido, Sarah S. Baker and Edward Nelson
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
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credit view, Financial crises, money view, Recessions

56.

The Effects of Technology Shocks on Hours and Output: A Robustness Analysis

CEPR Discussion Paper No. DP6720
Number of pages: 32 Posted: 11 Jun 2008
Fabio Canova, David Lopez-Salido and Claudio Michelacci
BI Norwegian Business School, Board of Governors of the Federal Reserve System and Centre for Monetary and Financial Studies (CEMFI)
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Citation 11
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Long cycles, News shocks, Structural VARs, Technology disturbances

57.

Strategic Complementarities and Optimal Monetary Policy

CEPR Discussion Paper No. DP6423
Number of pages: 49 Posted: 30 May 2008
Andrew T. Levin, David Lopez-Salido and Tack Yun
affiliation not provided to SSRN, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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Citation 4
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firm-specific factors, quasi-kinked demand, welfare analysis

58.

The Labour Market Effects of Technology Shocks

CEPR Discussion Paper No. DP6365
Number of pages: 64 Posted: 23 May 2008
Fabio Canova, David Lopez-Salido and Claudio Michelacci
BI Norwegian Business School, Board of Governors of the Federal Reserve System and Centre for Monetary and Financial Studies (CEMFI)
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Creative destruction, Search frictions, technological progress

59.

Patterns of Convergence and Divergence in the Euro Area

CEPR Discussion Paper No. DP9685
Number of pages: 41 Posted: 16 Oct 2013
Ángel Estrada, Jordi Galí and David Lopez-Salido
Banco de España, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Board of Governors of the Federal Reserve System
Downloads 3 (1,094,954)
Citation 6
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competitiveness, current account imbalances, inflation differentials, labor markets, macroeconomic convergence, relative prices

60.

Monetary and Fiscal Policy Coordination when Bonds Provide Transactions Services

CEPR Discussion Paper No. DP6814
Number of pages: 41 Posted: 12 Jun 2008
Georgetown University, Georgetown University - Department of Economics, Georgetown University and Board of Governors of the Federal Reserve System
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Citation 9
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Bonds, Monetary and Fiscal Policies, Transaction Services

61.

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
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imported intermediate inputs, open economy Phillips Curve, variable markups

62.

International Competition and Inflation: A New Keynesian Perspective

CEPR Discussion Paper No. DP7561
Number of pages: 46 Posted: 11 Jan 2010
Luca Guerrieri, 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
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Citation 10
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inflation, New Keynesian Phillips curve, variable markups

63.

Monetary Policy, Velocity, and the Equity Premium

CEPR Discussion Paper No. DP7388
Number of pages: 43 Posted: 08 Sep 2009
Christopher Gust and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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equity premium, monetary policy, velocity

64.

Is Trend Inflation at Risk of Becoming Unanchored? The Role of Inflation Expectations

FEDS Notes No. 2022-03-31
Posted: 12 Apr 2022
Danilo Cascaldi-Garcia, David Lopez-Salido and Francesca Loria
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

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65.

Do Low Interest Rates Harm Innovation, Competition, and Productivity Growth?

CEPR Discussion Paper No. DP16184
Number of pages: 87 Posted: 14 Jul 2021
David Lopez-Salido, Craig Chikis and Jonathan E. Goldberg
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
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66.

Inflation Dynamics with Search Frictions: A Structural Econometric Analysis

FRB Richmond Working Paper No. 08-1
Posted: 14 Jul 2021
Michael U. Krause, David Lopez-Salido and Thomas Lubik
affiliation not provided to SSRN, Board of Governors of the Federal Reserve System and Federal Reserve Banks - Federal Reserve Bank of Richmond

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67.

Nominal Rigidities and the Term Structures of Equity and Bond Returns

FEDS Working Paper No. 2015-64
Posted: 09 Jul 2021
Pier Lopez, David Lopez-Salido and Francisco Vazquez-Grande
affiliation not provided to SSRN, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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68.

Measuring the Natural Rate of Interest: The Role of Inflation Expectations

FEDS Notes No. 2020-06-19 https://doi.org/10.17016/2380-7172.2593
Posted: 13 Aug 2020
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

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69.

Inflation at Risk

CEPR Discussion Paper No. DP14074
Number of pages: 58 Posted: 23 Oct 2019
David Lopez-Salido and Francesca Loria
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
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Inflation risk, Quantile regression

70.

Mass Population Displacement and Retail Activities in the Wake of Hurricane Katrina

FEDS Notes No. 2015-08-26 https://doi.org/10.17016/2380-7172.1600
Posted: 24 Oct 2015
Etienne Gagnon and David Lopez-Salido
Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System

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71.

Short- and Long-Run Phillips Trade-Offs and the Cost of Disinflationary Policies

CEPR Discussion Paper Series #1483
Posted: 05 May 1997
Juan Luis Vega-Croissier, Juan Jose Dolado and David Lopez-Salido
Europaische Zentralbank, Charles III University of Madrid - Department of Economics and Board of Governors of the Federal Reserve System

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