Michael Woodford

Columbia Business School - Economics Department

420 West 118th Street

New York, NY 10027

United States

SCHOLARLY PAPERS

86

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in Total Papers Downloads

7,294

SSRN CITATIONS
Rank 103

SSRN RANKINGS

Top 103

in Total Papers Citations

1,295

CROSSREF CITATIONS

3,660

Scholarly Papers (86)

1.
Downloads 1,034 ( 24,706)
Citation 33

Conventional and Unconventional Monetary Policy

FRB of New York Staff Report No. 404
Number of pages: 65 Posted: 13 Nov 2009
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 1,022 (24,722)
Citation 15

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unconventional monetary policy, credit policy, zero lower bound, central bank balance sheet

Conventional and Unconventional Monetary Policy

CEPR Discussion Paper No. DP7514
Number of pages: 66 Posted: 17 Nov 2009
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 12 (682,913)
Citation 7
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credit frictions, credit spread, interest on reserves, quantitative easing

2.
Downloads 758 ( 38,182)
Citation 159

Credit Frictions and Optimal Monetary Policy

BIS Working Paper No. 278
Number of pages: 78 Posted: 30 Jul 2009
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 478 (68,772)
Citation 49

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Financial Frictions, Interest Rate Spreads

Credit Frictions and Optimal Monetary Policy

National Bank of Belgium Working Paper No. 146
Number of pages: 108 Posted: 03 Oct 2010
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 198 (178,699)
Citation 10

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Credit Frictions and Optimal Monetary Policy

Number of pages: 100 Posted: 06 Feb 2013
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 68 (391,241)
Citation 7

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Credit Frictions and Optimal Monetary Policy

NBER Working Paper No. w21820
Number of pages: 76 Posted: 21 Dec 2015 Last Revised: 14 Feb 2021
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 14 (667,020)
Citation 43

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Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach

Number of pages: 73 Posted: 29 May 2004
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 190 (185,439)
Citation 34

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Loss function, output gap, tax smoothing, targeting rules

Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach

Number of pages: 83 Posted: 30 Nov 2004
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 151 (226,596)
Citation 2

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Loss function, output gap, tax smoothing, targeting rules

Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach

NBER Working Paper No. w9905
Number of pages: 70 Posted: 19 Aug 2003 Last Revised: 04 Nov 2010
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 31 (547,377)
Citation 7

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4.

Price Level Determinacy Without Control of a Monetary Aggregate

NBER Working Paper No. w5204
Number of pages: 42 Posted: 25 May 2006 Last Revised: 23 Sep 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 369 (94,286)
Citation 35

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5.

Financial Market Efficiency and the Effectiveness of Monetary Policy

Economic Policy Review, Vol. 8, No. 1, May 2002
Number of pages: 10 Posted: 26 Oct 2005
Michael Woodford
Columbia Business School - Economics Department
Downloads 356 (98,226)

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monetary policy implementation, channel system

6.

Inflation Forecasts and Monetary Policy

NBER Working Paper No. w6157
Number of pages: 66 Posted: 12 Sep 2000
Ben S. Bernanke and Michael Woodford
Board of Governors of the Federal Reserve System and Columbia Business School - Economics Department
Downloads 219 (162,733)
Citation 5

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7.

'Outlier Blindness': Efficient Coding Generates an Inability to Represent Extreme Values

Number of pages: 59 Posted: 29 Mar 2018 Last Revised: 13 Jul 2020
Elise Payzan-LeNestour and Michael Woodford
University of New South Wales and Columbia Business School - Economics Department
Downloads 216 (165,521)
Citation 2

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Tail risk, Instability, Imprecise perception, Efficient coding, Adaptation, Decision making under uncertainty, Behavioral finance, Neuroeconomics, Experiments

The Central-Bank Balance Sheet as an Instrument of Monetary Policy

FRB of New York Staff Report No. 463
Number of pages: 82 Posted: 01 Aug 2010
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 145 (234,270)
Citation 63

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credit policy, quantitative easing, zero lower bound

The Central-Bank Balance Sheet as an Instrument of Monetary Policy

NBER Working Paper No. w16208
Number of pages: 82 Posted: 26 Jul 2010 Last Revised: 31 Jul 2010
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 71 (381,959)

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9.
Downloads 160 (215,448)
Citation 77

Credit Spreads and Monetary Policy

FRB of New York Staff Report No. 385
Number of pages: 62 Posted: 02 Sep 2009
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 101 (307,136)
Citation 83

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credit frictions, monetary policy

Credit Spreads and Monetary Policy

NBER Working Paper No. w15289
Number of pages: 62 Posted: 31 Aug 2009 Last Revised: 02 Oct 2009
Vasco Cúrdia and Michael Woodford
Federal Reserve Bank of San Francisco and Columbia Business School - Economics Department
Downloads 59 (421,506)

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10.
Downloads 122 (267,410)
Citation 69

Indicator Variables for Optimal Policy

Number of pages: 47 Posted: 02 Dec 2002
Lars E. O. Svensson and Michael Woodford
Stockholm School of Economics and Columbia Business School - Economics Department
Downloads 93 (324,300)
Citation 8

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Partial Information, Kalman Filter, Monetary Policy, Discretion and Commitment

Indicator Variables for Optimal Policy

NBER Working Paper No. w7953
Number of pages: 46 Posted: 12 Oct 2000 Last Revised: 19 Oct 2010
Lars E. O. Svensson and Michael Woodford
Stockholm School of Economics and Columbia Business School - Economics Department
Downloads 29 (559,379)
Citation 2

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11.

The Cyclical Behavior of Prices and Costs

NBER Working Paper No. w6909
Number of pages: 117 Posted: 17 Jun 1999 Last Revised: 16 May 2000
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 122 (267,410)
Citation 12

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12.
Downloads 117 (275,545)

Risk Aversion as a Perceptual Bias

CESifo Working Paper Series No. 6416
Number of pages: 47 Posted: 08 May 2017
Mel Khaw, Ziang Li and Michael Woodford
Duke University, Columbia University and Columbia Business School - Economics Department
Downloads 89 (333,651)

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Risk Aversion as a Perceptual Bias

NBER Working Paper No. w23294
Number of pages: 47 Posted: 05 Apr 2017 Last Revised: 24 Feb 2021
Mel Khaw, Ziang Li and Michael Woodford
Duke University, Columbia University and Columbia Business School - Economics Department
Downloads 28 (565,649)

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Risk Aversion as a Perceptual Bias

CEPR Discussion Paper No. DP11929
Number of pages: 49 Posted: 27 Mar 2017
Mel Khaw, Ziang Li and Michael Woodford
Duke University, Columbia University and Columbia Business School - Economics Department
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Bayesian decision theory, diminishing sensitivity, prospect theory, Rabin critique, Weber's Law

Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis

Institute for New Economic Thinking Working Paper Series No. 18
Number of pages: 94 Posted: 02 Oct 2015
Michael Woodford and Mariana Garcia-Schmidt
Columbia Business School - Economics Department and Columbia University, Graduate School of Arts and Sciences, Department of Economics, Students
Downloads 102 (305,151)

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Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis

NBER Working Paper No. w21614
Number of pages: 94 Posted: 06 Oct 2015
Mariana García-Schmidt and Michael Woodford
Central Bank of Chile and Columbia Business School - Economics Department
Downloads 14 (667,020)

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14.

Control of the Public Debt: A Requirement for Price Stability?

NBER Working Paper No. w5684
Number of pages: 39 Posted: 18 Nov 1996 Last Revised: 03 Oct 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 115 (278,949)
Citation 8

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15.

Central Bank Communication and Policy Effectiveness

NBER Working Paper No. w11898
Number of pages: 67 Posted: 05 Feb 2006 Last Revised: 04 Jan 2021
Michael Woodford
Columbia Business School - Economics Department
Downloads 113 (282,402)
Citation 22

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16.

Monetary Policy in a World Without Money

NBER Working Paper No. w7853
Number of pages: 47 Posted: 20 Aug 2000 Last Revised: 02 Apr 2001
Michael Woodford
Columbia Business School - Economics Department
Downloads 111 (285,943)
Citation 15

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17.

Optimal Monetary Policy in a Liquidity Trap

NBER Working Paper No. w9968
Number of pages: 79 Posted: 21 Sep 2003 Last Revised: 05 Nov 2010
Gauti B. Eggertsson and Michael Woodford
Federal Reserve Bank of New York and Columbia Business School - Economics Department
Downloads 108 (291,467)
Citation 3

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18.

An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy: Expanded Version

NBER Working Paper No. t0233
Number of pages: 69 Posted: 13 Jul 2000 Last Revised: 21 Feb 2021
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 105 (299,218)
Citation 2

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19.

Fiscal Requirements for Price Stability

NBER Working Paper No. w8072
Number of pages: 80 Posted: 05 Jan 2001 Last Revised: 20 Oct 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 98 (311,136)
Citation 34

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20.

Imperfect Common Knowledge and the Effects of Monetary Policy

NBER Working Paper No. w8673
Number of pages: 46 Posted: 20 Dec 2001 Last Revised: 25 Oct 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 97 (313,242)
Citation 27

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21.

Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets

NBER Working Paper No. w4502
Number of pages: 63 Posted: 17 May 2001 Last Revised: 29 Jul 2001
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 80 (353,001)
Citation 10

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22.

Individualistic Welfare Analysis in the Age of Behavioral Science

Capitalism and Society: Vol. 13: Iss. 1, Article 3
Number of pages: 7 Posted: 15 Oct 2018
Michael Woodford
Columbia Business School - Economics Department
Downloads 79 (355,548)

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welfare analysis, behavioral science, human choice behavior, individualism

23.

Optimal Monetary Policy Inertia

NBER Working Paper No. w7261
Number of pages: 109 Posted: 07 Feb 2000 Last Revised: 05 May 2000
Michael Woodford
Columbia Business School - Economics Department
Downloads 72 (374,680)
Citation 10

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Imperfect Competition and the Effects of Energy Price Increases on Economic Activity

NBER Working Paper No. w5634
Number of pages: 43 Posted: 07 Sep 2000 Last Revised: 07 Nov 2014
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 72 (378,929)
Citation 9

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Imperfect Competition and the Effects of Energy Price Increases on Economic Activity

JOURNAL OF MONEY, CREDIT, AND BANKING, Vol. 28, No. 4, Part 1, November 1996
Posted: 11 May 1998
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department

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Linear-Quadratic Approximation of Optimal Policy Problems

NBER Working Paper No. w12672
Number of pages: 73 Posted: 20 Nov 2006 Last Revised: 15 Feb 2021
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 53 (443,979)
Citation 4

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Linear-Quadratic Approximation of Optimal Policy Problems

CEPR Discussion Paper No. 5964
Number of pages: 71 Posted: 05 Jan 2007
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 18 (636,242)
Citation 10
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Optimization

Simple Analytics of the Government Expenditure Multiplier

NBER Working Paper No. w15714
Number of pages: 46 Posted: 01 Feb 2010 Last Revised: 25 Jun 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 66 (397,641)

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Simple Analytics of the Government Expenditure Multiplier

CEPR Discussion Paper No. DP7704
Number of pages: 53 Posted: 01 Mar 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 4 (746,859)
Citation 46
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fiscal stimulus, zero lower bound

27.
Downloads 65 (395,812)
Citation 4

Quantitative Easing and Financial Stability

NBER Working Paper No. w22285
Number of pages: 85 Posted: 01 Jun 2016
Michael Woodford
Columbia Business School - Economics Department
Downloads 62 (410,890)
Citation 4

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Quantitative Easing and Financial Stability

CEPR Discussion Paper No. DP11287
Number of pages: 86 Posted: 24 May 2016
Michael Woodford
Columbia Business School - Economics Department
Downloads 3 (755,757)
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macroprudential policy, money premium, zero lower bound

Implementing Optimal Policy Through Inflation-Forecast Targeting

NBER Working Paper No. w9747
Number of pages: 71 Posted: 09 Jun 2003 Last Revised: 19 Feb 2021
Lars E. O. Svensson and Michael Woodford
Stockholm School of Economics and Columbia Business School - Economics Department
Downloads 38 (509,957)
Citation 5

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Implementing Optimal Policy Through Inflation-Forecast Targeting

Number of pages: 72 Posted: 27 Feb 2004
Lars E. O. Svensson and Michael Woodford
Stockholm School of Economics and Columbia Business School - Economics Department
Downloads 27 (571,963)
Citation 8
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Inflation targeting, commitment, discretion

29.

Inflation Targeting and Financial Stability

NBER Working Paper No. w17967
Number of pages: 35 Posted: 06 Apr 2012 Last Revised: 04 Feb 2021
Michael Woodford
Columbia Business School - Economics Department
Downloads 64 (398,929)
Citation 7

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30.
Downloads 64 (398,929)
Citation 36

Globalization and Monetary Control

NBER Working Paper No. w13329
Number of pages: 78 Posted: 24 Aug 2007 Last Revised: 22 Oct 2007
Michael Woodford
Columbia Business School - Economics Department
Downloads 60 (417,796)
Citation 7

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Globalization and Monetary Control

CEPR Discussion Paper No. DP6448
Number of pages: 80 Posted: 30 May 2008
Michael Woodford
Columbia Business School - Economics Department
Downloads 4 (746,859)
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capital mobility, global liquidity, global slack, inflation

31.

Interest-Rate Rules in an Estimated Sticky Price Model

NBER Working Paper No. w6618
Number of pages: 92 Posted: 15 Sep 2000 Last Revised: 10 Oct 2010
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 60 (411,964)
Citation 21

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32.

Individual Differences in the Perception of Probability

Number of pages: 28 Posted: 07 Sep 2019 Last Revised: 24 Jun 2020
Mel Khaw, Luminita Stevens and Michael Woodford
Duke University, University of Maryland and Columbia Business School - Economics Department
Downloads 59 (415,486)
Citation 1

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probability estimation, probability distortion, conservatism, overconfidence

33.

Doing Without Money: Controlling Inflation in a Post-Monetary World

NBER Working Paper No. w6188
Number of pages: 64 Posted: 17 Aug 2000
Michael Woodford
Columbia Business School - Economics Department
Downloads 58 (418,910)
Citation 9

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34.

Aggregate Fluctuations from Independent Sectoral Shocks: Self-Organized Criticality in a Model of Production and Inventory Dynamics

NBER Working Paper No. w4241
Number of pages: 44 Posted: 27 Apr 2000 Last Revised: 13 Aug 2010
Peter Bak, Kan Chen, José Scheinkman and Michael Woodford
National Bureau of Economic Research (NBER), National Bureau of Economic Research (NBER), Columbia University and Columbia Business School - Economics Department
Downloads 58 (418,910)
Citation 5

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35.

Inflation Stabilization and Welfare

NBER Working Paper No. w8071
Number of pages: 53 Posted: 05 Jan 2001 Last Revised: 20 Oct 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 55 (429,601)
Citation 4

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Leaning Against Housing Prices as Robustly Optimal Monetary Policy

CESifo Working Paper Series No. 7071
Number of pages: 66 Posted: 21 Jul 2018
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
Downloads 23 (599,783)

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asset price bubbles, leaning against the wind, inflation targeting

Leaning Against Housing Prices As Robustly Optimal Monetary Policy

CFS Working Paper, No. 601, 2018
Number of pages: 67 Posted: 19 Nov 2018
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
Downloads 20 (621,421)
Citation 1

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Leaning Against Housing Prices as Robustly Optimal Monetary Policy

NBER Working Paper No. w24629
Number of pages: 64 Posted: 25 May 2018
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
Downloads 9 (706,681)

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Leaning Against Housing Prices as Robustly Optimal Monetary Policy

CEPR Discussion Paper No. DP12937
Number of pages: 67 Posted: 21 May 2018
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
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Asset price bubbles, Inflation targeting, leaning against the wind, optimal target criterion

37.

Monetary Policy in the Information Economy

NBER Working Paper No. w8674
Number of pages: 70 Posted: 20 Dec 2001 Last Revised: 25 Oct 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 52 (440,433)
Citation 7

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38.

Optimal Monetary Stabilization Policy

NBER Working Paper No. w16095
Number of pages: 131 Posted: 21 Jun 2010 Last Revised: 13 Jul 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 51 (444,069)
Citation 10

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39.

Optimal Interest-Rate Rules: Ii. Applications

NBER Working Paper No. w9420
Number of pages: 102 Posted: 20 Jul 2003 Last Revised: 31 Oct 2010
Marc P. Giannoni and Michael Woodford
Federal Reserve Banks - Federal Reserve Bank of Dallas and Columbia Business School - Economics Department
Downloads 50 (447,881)
Citation 14

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40.

Optimal Interest-Rate Rules: I. General Theory

NBER Working Paper No. w9419
Number of pages: 71 Posted: 10 Jan 2003 Last Revised: 31 Oct 2010
Marc P. Giannoni and Michael Woodford
Federal Reserve Banks - Federal Reserve Bank of Dallas and Columbia Business School - Economics Department
Downloads 50 (447,881)

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How Important is Money in the Conduct of Monetary Policy?

NBER Working Paper No. w13325
Number of pages: 53 Posted: 24 Aug 2007 Last Revised: 19 Oct 2007
Michael Woodford
Columbia Business School - Economics Department
Downloads 45 (476,934)
Citation 5

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How Important is Money in the Conduct of Monetary Policy?

CEPR Discussion Paper No. DP6211
Number of pages: 55 Posted: 22 May 2008
Michael Woodford
Columbia Business School - Economics Department
Downloads 4 (746,859)
Citation 3
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Monetarism, monetary targeting, new Keynesian model, two-pillar strategy

Optimal Taxation in an RBC Model: A Linear-Quadratic Approach

NBER Working Paper No. w11029
Number of pages: 58 Posted: 02 Feb 2005 Last Revised: 20 Feb 2021
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 36 (520,084)

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Optimal Taxation in an RBC Model: A Linear-Quadratic Approach

Number of pages: 59 Posted: 15 Feb 2005
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 13 (674,903)
Citation 3
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Optimal taxation, LQ solution

Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State

NBER Working Paper No. w10839
Number of pages: 55 Posted: 27 Oct 2004 Last Revised: 13 Feb 2021
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 34 (530,663)

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Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State

CEPR Discussion Paper No. 4740
Number of pages: 77 Posted: 31 Jan 2005
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 15 (659,217)
Citation 1
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Optimal monetary policy, sticky prices, sticky wages

44.

Optimal Inflation Targeting Rules

NBER Working Paper No. w9939
Number of pages: 86 Posted: 01 Sep 2003 Last Revised: 28 Feb 2021
Marc P. Giannoni and Michael Woodford
Federal Reserve Banks - Federal Reserve Bank of Dallas and Columbia Business School - Economics Department
Downloads 48 (455,762)
Citation 7

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45.
Downloads 47 (459,757)
Citation 8

Optimal Target Criteria for Stabilization Policy

FRB of New York Staff Report No. 535
Number of pages: 77 Posted: 22 Jan 2012
Marc P. Giannoni and Michael Woodford
Federal Reserve Banks - Federal Reserve Bank of Dallas and Columbia Business School - Economics Department
Downloads 25 (585,637)
Citation 10

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Optimal policy, Target criterion, Dynamic model, Optimal control

Optimal Target Criteria for Stabilization Policy

NBER Working Paper No. w15757
Number of pages: 76 Posted: 22 Feb 2010 Last Revised: 23 Jul 2010
Marc P. Giannoni and Michael Woodford
Federal Reserve Banks - Federal Reserve Bank of Dallas and Columbia Business School - Economics Department
Downloads 18 (636,242)

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Optimal Target Criteria for Stabilization Policy

CEPR Discussion Paper No. DP7719
Number of pages: 87 Posted: 09 Mar 2010
Marc P. Giannoni and Michael Woodford
Federal Reserve Banks - Federal Reserve Bank of Dallas and Columbia Business School - Economics Department
Downloads 4 (746,859)
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dynamic model, optimal control, Optimal policy, target criterion

46.

Firm-Specific Capital and the New-Keynesian Phillips Curve

NBER Working Paper No. w11149
Number of pages: 48 Posted: 16 Mar 2005
Michael Woodford
Columbia Business School - Economics Department
Downloads 43 (476,533)
Citation 6

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47.

Cyclical Markups: Theories and Evidence

NBER Working Paper No. w3534
Number of pages: 43 Posted: 11 Apr 2004 Last Revised: 28 Feb 2021
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 43 (476,533)

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Robustly Optimal Monetary Policy with Near Rational Expectations

NBER Working Paper No. w11896
Number of pages: 48 Posted: 05 Feb 2006 Last Revised: 05 Jul 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 42 (490,716)
Citation 12

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Robustly Optimal Monetary Policy With Near-Rational Expectations

CFS Working Paper No. 2007/12
Posted: 08 Mar 2007
Michael Woodford
Columbia Business School - Economics Department

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Optimal Monetary Policy, Commitment, History-Dependent Policy

49.

Inflation Stabilization and Welfare: The Case of a Distorted Steady State

NBER Working Paper No. w10838
Number of pages: 63 Posted: 27 Oct 2004 Last Revised: 12 Feb 2021
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 41 (485,352)
Citation 22

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50.

Optimal Monetary and Fiscal Policy in a Liquidity Trap

NBER Working Paper No. w10840
Number of pages: 63 Posted: 15 Aug 2012 Last Revised: 14 Feb 2021
Gauti B. Eggertsson and Michael Woodford
Federal Reserve Bank of New York and Columbia Business School - Economics Department
Downloads 40 (489,850)
Citation 15

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51.

Information-Constrained State-Dependent Pricing

NBER Working Paper No. w14620
Number of pages: 57 Posted: 15 Jan 2009 Last Revised: 15 Jul 2009
Michael Woodford
Columbia Business School - Economics Department
Downloads 39 (494,377)
Citation 14

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52.

Macroeconomic Analysis Without the Rational Expectations Hypothesis

NBER Working Paper No. w19368
Number of pages: 83 Posted: 30 Aug 2013
Michael Woodford
Columbia Business School - Economics Department
Downloads 37 (503,625)
Citation 12

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53.

Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity

NBER Working Paper No. w3206
Number of pages: 61 Posted: 17 Oct 2007 Last Revised: 21 May 2008
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 36 (508,335)
Citation 11

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54.

Indicator Variables for Optimal Policy Under Asymmetric Information

NBER Working Paper No. w8255
Number of pages: 29 Posted: 29 Apr 2001 Last Revised: 21 Oct 2010
Lars E. O. Svensson and Michael Woodford
Stockholm School of Economics and Columbia Business School - Economics Department
Downloads 33 (523,299)
Citation 13

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55.

Outlier Blindness: A Neurobiological Foundation for Neglect of Financial Risk

Number of pages: 61 Posted: 28 Nov 2020 Last Revised: 26 Jan 2021
Elise Payzan-LeNestour and Michael Woodford
University of New South Wales and Columbia Business School - Economics Department
Downloads 32 (528,494)

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Tail risk, Imprecise perception, Efficient coding, Adaptation, Decision making under uncertainty, Behavioral finance, Neuroeconomics, Experiments

56.

Loan Commitments and Optimal Monetary Policy

NBER Working Paper No. w5660
Number of pages: 33 Posted: 21 Oct 1996 Last Revised: 14 May 2000
Michael Woodford
Columbia Business School - Economics Department
Downloads 32 (528,494)

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57.

Optimal Inflation Targeting Under Alternative Fiscal Regimes

NBER Working Paper No. w12158
Number of pages: 42 Posted: 18 May 2006 Last Revised: 22 Sep 2010
Pierpaolo Benigno and Michael Woodford
Luiss Guido Carli University and Columbia Business School - Economics Department
Downloads 30 (538,963)

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58.

Optimal Policy with Partial Information in a Forward-Looking Model: Certainty-Equivalence Redux

NBER Working Paper No. w9430
Number of pages: 23 Posted: 16 Jan 2003 Last Revised: 31 Jan 2003
Lars E. O. Svensson and Michael Woodford
Stockholm School of Economics and Columbia Business School - Economics Department
Downloads 30 (538,963)

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Monetary Policy Analysis When Planning Horizons are Finite

CESifo Working Paper Series No. 7108
Number of pages: 55 Posted: 09 Aug 2018
Michael Woodford
Columbia Business School - Economics Department
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Citation 10

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forward guidance, neo-Fisherianism, Fisher equation, bounded rationality

Monetary Policy Analysis When Planning Horizons are Finite

NBER Working Paper No. w24692
Number of pages: 54 Posted: 11 Jun 2018
Michael Woodford
Columbia Business School - Economics Department
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Monetary Policy Analysis When Planning Horizons are Finite

CEPR Discussion Paper No. DP12968
Number of pages: 56 Posted: 05 Jun 2018
Michael Woodford
Columbia Business School - Economics Department
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bounded rationality, forward guidance, neo-Fisherianism

60.

Forecast Targeting as a Monetary Policy Strategy: Policy Rules in Practice

NBER Working Paper No. w13716
Number of pages: 52 Posted: 03 Jan 2008 Last Revised: 25 Jun 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 28 (550,342)
Citation 6

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61.

Self-Fulfilling Expectations and Fluctuations in Aggregate Demand

NBER Working Paper No. w3361
Number of pages: 43 Posted: 13 Sep 2010
Michael Woodford
Columbia Business School - Economics Department
Downloads 27 (556,130)
Citation 2

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62.

Equilibrium Models of Endogenous Fluctuations: An Introduction

NBER Working Paper No. w3360
Number of pages: 56 Posted: 08 Sep 2010
Michael Woodford
Columbia Business School - Economics Department
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63.

Energy Taxes and Aggregate Economic Activity

NBER Working Paper No. w4576
Number of pages: 43 Posted: 04 Oct 2001 Last Revised: 13 Nov 2014
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
Downloads 25 (568,608)

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Effective Demand Failures and the Limits of Monetary Stabilization Policy

NBER Working Paper No. w27768
Number of pages: 61 Posted: 14 Sep 2020
Michael Woodford
Columbia Business School - Economics Department
Downloads 24 (592,687)

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Effective Demand Failures and the Limits of Monetary Stabilization Policy

CEPR Discussion Paper No. DP15211
Number of pages: 63 Posted: 12 Sep 2020
Michael Woodford
Columbia Business School - Economics Department
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circular flow, Covid-19 pandemic, Fiscal Transfers, Network structure

65.

Does Competition between Currencies Lead to Price Level and Exchange Rate Stability?

NBER Working Paper No. w3441
Number of pages: 43 Posted: 27 Jun 2007
Michael Woodford
Columbia Business School - Economics Department
Downloads 24 (575,031)

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66.

Is the Business Cycles a Necessary Consequence of Stochastic Growth?

NBER Working Paper No. w4650
Number of pages: 59 Posted: 27 Dec 2000 Last Revised: 17 Sep 2010
Julio J. Rotemberg and Michael Woodford
Harvard University, Business, Government and the International Economy Unit (deceased) and Columbia Business School - Economics Department
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67.

An Optimizing Neuroeconomic Model of Discrete Choice

NBER Working Paper No. w19897
Number of pages: 46 Posted: 16 Feb 2014
Michael Woodford
Columbia Business School - Economics Department
Downloads 23 (581,439)
Citation 7

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68.

Real Effects of Monetary Shocks in an Economy with Sequential Purchases

NBER Working Paper No. w4250
Number of pages: 70 Posted: 11 Jul 2007 Last Revised: 12 Feb 2021
Robert E. Lucas and Michael Woodford
University of Chicago - Department of Economics and Columbia Business School - Economics Department
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Robustly Optimal Monetary Policy in a New Keynesian Model with Housing

CESifo Working Paper No. 8127
Number of pages: 66 Posted: 04 Mar 2020
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
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robust policy design, leaning against housing prices, distorted expectations

Robustly Optimal Monetary Policy in a New Keynesian Model with Housing

NBER Working Paper No. w26833
Number of pages: 65 Posted: 09 Mar 2020
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
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Robustly Optimal Monetary Policy in a New Keynesian Model with Housing

CEPR Discussion Paper No. DP14445
Number of pages: 67 Posted: 03 Mar 2020
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
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Optimally Imprecise Memory and Biased Forecasts

CESifo Working Paper No. 8709
Number of pages: 85 Posted: 24 Nov 2020
Rava Azeredo da Silveira, Yeji Sung and Michael Woodford
University of Basel, Columbia University and Columbia Business School - Economics Department
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Optimally Imprecise Memory and Biased Forecasts

CEPR Discussion Paper No. DP15459
Number of pages: 86 Posted: 02 Dec 2020
Rava Azeredo da Silveira, Yeji Sung and Michael Woodford
University of Basel, Columbia University and Columbia Business School - Economics Department
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Fiscal and Monetary Stabilization Policy at the Zero Lower Bound: Consequences of Limited Foresight

NBER Working Paper No. w27521
Number of pages: 57 Posted: 14 Jul 2020
Michael Woodford and Yinxi Xie
Columbia Business School - Economics Department and Bank of Canada
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Citation 1
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Fiscal and Monetary Stabilization Policy at the Zero Lower Bound: Consequences of Limited Foresight

CEPR Discussion Paper No. DP15042
Number of pages: 59 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
Michael Woodford and Yinxi Xie
Columbia Business School - Economics Department and Bank of Canada
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Citation 1
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Monetary Accommodation, monetary and fiscal policy coordination, planning horizons

Discrete Adjustment to a Changing Environment: Experimental Evidence

CESifo Working Paper Series No. 6273
Number of pages: 56 Posted: 06 Feb 2017
Mel Khaw, Luminita Stevens and Michael Woodford
Duke University, University of Maryland and Columbia Business School - Economics Department
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Discrete Adjustment to a Changing Environment: Experimental Evidence

NBER Working Paper No. w22978
Number of pages: 56 Posted: 27 Dec 2016
Mel Khaw, Luminita Stevens and Michael Woodford
Duke University, University of Maryland and Columbia Business School - Economics Department
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Citation 7

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Discrete Adjustment to a Changing Environment: Experimental Evidence

CEPR Discussion Paper No. DP11725
Number of pages: 58 Posted: 03 Jan 2017
Mel Khaw, Luminita Stevens and Michael Woodford
Duke University, University of Maryland and Columbia Business School - Economics Department
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adjustment hazard, generalized Ss model, menu costs, rational inattention

73.

Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints

NBER Working Paper No. w19711
Number of pages: 62 Posted: 10 Dec 2013
Aloísio P. Araújo, Susan Schommer and Michael Woodford
EPGE/FGV and IMPA, Instituto Nacional de Matemática Pura e Aplicada (IMPA) and Columbia Business School - Economics Department
Downloads 16 (628,271)
Citation 2

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74.

Rational Inattention and Sequential Information Sampling

NBER Working Paper No. w23787
Number of pages: 70 Posted: 11 Sep 2017
Benjamin Hebert and Michael Woodford
Stanford University and Columbia Business School - Economics Department
Downloads 15 (635,460)

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75.

Information Costs and Sequential Information Sampling

NBER Working Paper No. w25316
Number of pages: 57 Posted: 03 Dec 2018
Benjamin Hebert and Michael Woodford
Stanford University and Columbia Business School - Economics Department
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76.

Cognitive Imprecision and Small-Stakes Risk Aversion

NBER Working Paper No. w24978
Number of pages: 78 Posted: 17 Sep 2018
Mel Khaw, Ziang Li and Michael Woodford
Duke University, Columbia University and Columbia Business School - Economics Department
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Citation 3

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Modeling Imprecision in Perception, Valuation and Choice

NBER Working Paper No. w26258
Number of pages: 39 Posted: 18 Sep 2019
Michael Woodford
Columbia Business School - Economics Department
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Citation 5
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Modeling Imprecision in Perception, Valuation, and Choice

Annual Review of Economics, Vol. 12, pp. 579-601, 2020
Posted: 14 Aug 2020
Michael Woodford
Columbia Business School - Economics Department

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78.

Noisy Memory and Over-Reaction to News

NBER Working Paper No. w25478
Number of pages: 11 Posted: 23 Jan 2019 Last Revised: 12 Feb 2021
Rava Azeredo da Silveira and Michael Woodford
affiliation not provided to SSRN and Columbia Business School - Economics Department
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Citation 6

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79.

Does a 'Two-Pillar Phillips Curve' Justify a Two-Pillar Monetary Policy Strategy?

CEPR Discussion Paper No. DP6447
Number of pages: 39 Posted: 30 May 2008
Michael Woodford
Columbia Business School - Economics Department
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band-pass regression, ECB monetary policy strategy, monetarism

80.

Rational Inattention When Decisions Take Time

NBER Working Paper No. w26415
Number of pages: 46 Posted: 30 Oct 2019
Benjamin Hebert and Michael Woodford
Stanford University and Columbia Business School - Economics Department
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81.

Forward Guidance by Inflation-Targeting Central Banks

CEPR Discussion Paper No. DP9722
Number of pages: 56 Posted: 08 Nov 2013
Michael Woodford
Columbia Business School - Economics Department
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Citation 2
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82.

Robustly Optimal Monetary Policy in a Microfounded New Keynesian Model

CEPR Discussion Paper No. DP8826
Number of pages: 65 Posted: 01 Mar 2012
Klaus Adam and Michael Woodford
University of Mannheim and Columbia Business School - Economics Department
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Citation 5
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belief distortions, near-rational expectations, robust control, target criterion

83.

Optimally Imprecise Memory and Biased Forecasts

NBER Working Paper No. w28075
Number of pages: 85 Posted: 16 Nov 2020
Rava Azeredo da Silveira, Yeji Sung and Michael Woodford
affiliation not provided to SSRN, Columbia University and Columbia Business School - Economics Department
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84.

Neighborhood-Based Information Costs

NBER Working Paper No. w26743
Number of pages: 59 Posted: 11 Feb 2020
Benjamin Hebert and Michael Woodford
Stanford University and Columbia Business School - Economics Department
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Citation 1
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85.

Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis

CEPR Discussion Paper No. DP10893
Number of pages: 95 Posted: 20 Oct 2015
Mariana Garcia-Schmidt and Michael Woodford
Columbia University, Graduate School of Arts and Sciences, Department of Economics, Students and Columbia Business School - Economics Department
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Citation 15
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86.

Macroeconomic Analysis Without the Rational Expectations Hypothesis

Annual Review of Economics, Vol. 5, pp. 303-346, 2013
Posted: 07 Aug 2013
Michael Woodford
Columbia Business School - Economics Department

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