Fernando Alvarez

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

University of Chicago - Department of Economics

Professor

1126 East 59th Street

Social Science Building, Room 442

Chicago, IL 60637

United States

SCHOLARLY PAPERS

30

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334

Scholarly Papers (30)

Financial Innovation and the Transactions Demand for Cash

Econometrica, Forthcoming
Number of pages: 41 Posted: 18 Dec 2008
Fernando Alvarez and Francesco Lippi II
University of Chicago - Department of Economics and Università degli Studi di Sassari
Downloads 118 (200,297)
Citation 22

Abstract:

money demand, technological progress, inventory models

Financial Innovation and the Transactions Demand for Cash

NBER Working Paper No. w13416
Number of pages: 50 Posted: 21 Sep 2007 Last Revised: 29 Jul 2012
Fernando Alvarez and Francesco Lippi
University of Chicago - Department of Economics and University of Sassari
Downloads 38 (377,627)
Citation 22

Abstract:

Financial Innovation and the Transactions Demand for Cash

CEPR Discussion Paper No. DP6472
Number of pages: 49 Posted: 30 May 2008
Fernando Alvarez and Francesco Lippi
University of Chicago - Department of Economics and University of Sassari
Downloads 5 (549,454)
Citation 22
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Abstract:

inventory models, money demand, technological progress

Fixed Term Employment Contracts in an Equilibrium Search Model

Federal Reserve Bank of Chicago Working Paper No. 2005-14
Number of pages: 81 Posted: 13 Dec 2005
Fernando Alvarez and Marcelo Veracierto
University of Chicago - Department of Economics and Federal Reserve Bank of Chicago - Research Department
Downloads 94 (235,883)
Citation 4

Abstract:

fixed term contracts, temporary contracts, severance payments

Fixed-Term Employment Contracts in an Equilibrium Search Model

NBER Working Paper No. w12791
Number of pages: 73 Posted: 24 Dec 2006
Fernando Alvarez and Marcelo Veracierto
University of Chicago - Department of Economics and Federal Reserve Bank of Chicago - Research Department
Downloads 22 (453,362)
Citation 4

Abstract:

3.

Models of Idea Flows

NBER Working Paper No. w14135
Number of pages: 14 Posted: 30 Jun 2008 Last Revised: 17 Aug 2010
Fernando Alvarez, Francisco Buera and Robert E. Lucas Jr.
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and University of Chicago - Department of Economics
Downloads 54 (319,756)
Citation 8

Abstract:

4.

Search and Rest Unemployment

NBER Working Paper No. w13772
Number of pages: 53 Posted: 08 Feb 2008 Last Revised: 20 Aug 2010
Fernando Alvarez and Robert Shimer
University of Chicago - Department of Economics and University of Chicago - Department of Economics
Downloads 46 (334,286)
Citation 10

Abstract:

5.

Asset Pricing When Risk Sharing is Limited by Default

NBER Working Paper No. w6476
Number of pages: 77 Posted: 15 Jul 2000 Last Revised: 09 Oct 2010
Fernando Alvarez and Urban J. Jermann
University of Chicago - Department of Economics and University of Pennsylvania - Finance Department
Downloads 42 (346,445)
Citation 10

Abstract:

Price Setting with Menu Cost for Multi-Product Firms

Number of pages: 65 Posted: 25 Feb 2012
Fernando Alvarez and Francesco Lippi
University of Chicago - Department of Economics and University of Sassari
Downloads 30 (410,936)
Citation 3

Abstract:

menu cost, economies of scope in price changes, optimal control in multiple dimensions, fixed costs, quasi-variational inequalities, monetary shocks, impulse responses

Price Setting with Menu Cost for Multi-Product Firms

NBER Working Paper No. w17923
Number of pages: 66 Posted: 25 Mar 2012
Fernando Alvarez and Francesco Lippi II
University of Chicago - Department of Economics and Università degli Studi di Sassari
Downloads 9 (528,364)
Citation 3

Abstract:

Price Setting with Menu Cost for Multi-Product Firms

CEPR Discussion Paper No. DP8863
Number of pages: 68 Posted: 01 Mar 2012
Fernando Alvarez and Francesco Lippi
University of Chicago - Department of Economics and University of Sassari
Downloads 0
Citation 3
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Abstract:

economies of scope in price changes, fixed costs, impulse responses, menu cost, monetary shocks, optimal control in multiple dimensions, quasi-variational inequalities

7.

General Equilibrium Analysis of the Eaton-Kortum Model of International Trade

NBER Working Paper No. w11764
Number of pages: 74 Posted: 08 Feb 2006 Last Revised: 25 Aug 2010
Fernando Alvarez and Robert E. Lucas Jr.
University of Chicago - Department of Economics and University of Chicago - Department of Economics
Downloads 39 (334,286)
Citation 49

Abstract:

Using Asset Prices to Measure the Cost of Business Cycles

NBER Working Paper No. w7978
Number of pages: 68 Posted: 22 Oct 2000
Fernando Alvarez and Urban J. Jermann
University of Chicago - Department of Economics and University of Pennsylvania - Finance Department
Downloads 37 (381,485)
Citation 45

Abstract:

Using Asset Prices to Measure the Cost of Business Cycles

Journal of Political Economy, Vol. 112, pp. 1223-1256, December 2004
Posted: 02 Nov 2004
Fernando Alvarez and Urban J. Jermann
University of Chicago - Department of Economics and University of Pennsylvania - Finance Department

Abstract:

9.

The Size of the Permanent Component of Asset Pricing Kernels

NBER Working Paper No. w8360
Number of pages: 61 Posted: 28 Jun 2001
Fernando Alvarez and Urban J. Jermann
University of Chicago - Department of Economics and University of Pennsylvania - Finance Department
Downloads 36 (366,346)
Citation 3

Abstract:

10.

On the Sluggish Response of Prices to Money in an Inventory-Theoretic Model of Money Demand

NBER Working Paper No. w10016
Number of pages: 47 Posted: 10 Oct 2003
Fernando Alvarez, Andrew Atkeson and Chris Edmond
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and New York University
Downloads 34 (366,346)
Citation 14

Abstract:

11.

Money and Exchange Rates in the Grossman-Weiss-Rotemberg Model

NBER Working Paper No. w5678
Number of pages: 38 Posted: 21 Oct 1996
Fernando Alvarez and Andrew Atkeson
University of Chicago - Department of Economics and University of California, Los Angeles (UCLA) - Department of Economics
Downloads 28 (409,466)
Citation 10

Abstract:

Quantitative Asset Pricing Implications of Endogenous Solvency Constraints

NBER Working Paper No. w6953
Number of pages: 71 Posted: 08 Mar 1999
Fernando Alvarez and Urban J. Jermann
University of Chicago - Department of Economics and University of Pennsylvania - Finance Department
Downloads 26 (430,846)
Citation 36

Abstract:

Quantitative Asset Pricing Implications of Endogenous Solvency Constraints

Review of Financial Studies, Winter Issue
Posted: 19 Sep 2001
Fernando Alvarez and Urban J. Jermann
University of Chicago - Department of Economics and University of Pennsylvania - Finance Department

Abstract:

Money, Interest Rates, and Exchange Rates with Endogenously Segmented Asset Markets

NBER Working Paper No. w7871
Number of pages: 40 Posted: 01 Sep 2000
Fernando Alvarez, Andrew Atkeson and Patrick J. Kehoe
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Minneapolis - Research Department
Downloads 25 (436,326)
Citation 51

Abstract:

Money, Interest Rates, and Exchange Rates with Endogenously Segmented Asset Markets

Journal of Political Economy, Vol. 110, February 2002
Posted: 10 Jun 2002
Fernando Alvarez, Andrew Atkeson and Patrick J. Kehoe
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Minneapolis - Research Department

Abstract:

14.
Downloads 24 (428,820)
Citation 14

Optimal Price Setting with Observation and Menu Costs

NBER Working Paper No. w15852
Number of pages: 82 Posted: 29 Mar 2010
Fernando Alvarez, Francesco Lippi II and Luigi Paciello
University of Chicago - Department of Economics, Università degli Studi di Sassari and Einaudi Institute for Economics and Finance (EIEF)
Downloads 21 (459,100)
Citation 14

Abstract:

Optimal Price Setting with Observation and Menu Costs

CEPR Discussion Paper No. DP7861
Number of pages: 37 Posted: 19 Jul 2010
Fernando Alvarez, Francesco Lippi and Luigi Paciello
University of Chicago - Department of Economics, University of Sassari and Einaudi Institute for Economics and Finance (EIEF)
Downloads 3 (560,409)
Citation 14
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Abstract:

menu cost, observation costs, sticky prices

Cash Burns: An Inventory Model with a Cash-Credit Choice

Becker Friedman Institute for Research in Economics Working Paper No. 2017-06
Number of pages: 47 Posted: 07 Apr 2017
Fernando Alvarez and Francesco Lippi II
University of Chicago - Department of Economics and Università degli Studi di Sassari
Downloads 19 (470,814)

Abstract:

Cash Burns: An Inventory Model with a Cash-Credit Choice

NBER Working Paper No. w21110
Number of pages: 42 Posted: 20 Apr 2015
Fernando Alvarez and Francesco Lippi II
University of Chicago - Department of Economics and Università degli Studi di Sassari
Downloads 2 (568,600)
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Abstract:

Money and Interest Rates with Endogeneously Segmented Markets

NBER Working Paper No. w7060
Number of pages: 38 Posted: 09 Jun 1999
Fernando Alvarez, Andrew Atkeson and Patrick J. Kehoe
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Minneapolis - Research Department
Downloads 20 (464,912)
Citation 41

Abstract:

Money and Interest Rates with Endogeneously Segmented Markets

Posted: 17 Aug 2008
Fernando Alvarez, Andrew Atkeson and Patrick J. Kehoe
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Minneapolis - Research Department

Abstract:

Liquidity Effects, Yield Curve, Term Structure of Interest Rates

Persistent Liquidity Effects and Long Run Money Demand

NBER Working Paper No. w17566
Number of pages: 62 Posted: 04 Nov 2011
Fernando Alvarez and Francesco Lippi II
University of Chicago - Department of Economics and Università degli Studi di Sassari
Downloads 12 (511,633)

Abstract:

Persistent Liquidity Effects and Long Run Money Demand

CEPR Discussion Paper No. DP8650
Number of pages: 63 Posted: 24 Nov 2011
Fernando Alvarez and Francesco Lippi
University of Chicago - Department of Economics and University of Sassari
Downloads 2 (568,600)
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Abstract:

money demand

Durable Consumption and Asset Management with Transaction and Observation Costs

NBER Working Paper No. w15835
Number of pages: 59 Posted: 22 Mar 2010
Fernando Alvarez, Luigi Guiso and Francesco Lippi II
University of Chicago - Department of Economics, Einaudi Institute for Economics and Finance (EIEF) and Università degli Studi di Sassari
Downloads 12 (511,633)
Citation 8

Abstract:

Durable Consumption and Asset Management with Transaction and Observation Costs

CEPR Discussion Paper No. DP7702
Number of pages: 61 Posted: 01 Mar 2010
Fernando Alvarez, Luigi Guiso and Francesco Lippi
University of Chicago - Department of Economics, Einaudi Institute for Economics and Finance (EIEF) and University of Sassari
Downloads 2 (568,600)
Citation 8
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Abstract:

attention costs, durable goods, household finance, liquidity choice

19.

Idea Flows, Economic Growth, and Trade

NBER Working Paper No. w19667
Number of pages: 54 Posted: 23 Nov 2013
Fernando Alvarez, Francisco Buera and Robert E. Lucas Jr.
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and University of Chicago - Department of Economics
Downloads 13 (444,328)
Citation 1

Abstract:

Small and Large Price Changes and the Propagation of Monetary Shocks

Number of pages: 104 Posted: 20 Jun 2014
Fernando Alvarez, Hervé le Bihan and Francesco Lippi
University of Chicago - Department of Economics, Banque de France - Centre de Recherche and University of Sassari
Downloads 10 (522,859)

Abstract:

price setting, micro evidence, size-distribution of price changes, kurtosis of price changes, menu-cost, Calvo pricing rule, output response to monetary shocks

Small and Large Price Changes and the Propagation of Monetary Shocks

NBER Working Paper No. w20155
Number of pages: 49 Posted: 26 May 2014
Fernando Alvarez, Hervé le Bihan and Francesco Lippi II
University of Chicago - Department of Economics, Banque de France - Centre de Recherche and Università degli Studi di Sassari
Downloads 2 (568,600)

Abstract:

Small and Large Price Changes and the Propagation of Monetary Shocks

CEPR Discussion Paper No. DP9770
Number of pages: 75 Posted: 02 Dec 2013
Fernando Alvarez, Hervé le Bihan and Francesco Lippi
University of Chicago - Department of Economics, Banque de France - Centre de Recherche and University of Sassari
Downloads 0
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Abstract:

Calvo pricing rule, distribution of price changes, menu cost, micro evidence, monetary shocks, rice setting

21.

Mandatory Disclosure and Financial Contagion

NBER Working Paper No. w21328
Number of pages: 50 Posted: 13 Jul 2015
Fernando Alvarez and Gadi Barlevy
University of Chicago - Department of Economics and Federal Reserve Bank of Chicago
Downloads 10 (485,985)
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Abstract:

22.

Monetary Shocks in Models with Inattentive Producers

NBER Working Paper No. w20817
Number of pages: 57 Posted: 05 Jan 2015
Fernando Alvarez, Francesco Lippi II and Luigi Paciello
University of Chicago - Department of Economics, Università degli Studi di Sassari and Einaudi Institute for Economics and Finance (EIEF)
Downloads 4 (529,529)
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Abstract:

23.

Monetary Shocks in a Model with Inattentive Producers

CEPR Discussion Paper No. DP9228
Number of pages: 56 Posted: 01 Feb 2013
Fernando Alvarez, Francesco Lippi and Luigi Paciello
University of Chicago - Department of Economics, University of Sassari and Einaudi Institute for Economics and Finance (EIEF)
Downloads 3 (534,555)
Citation 1
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Abstract:

impulse responses., inattentiveness, monetary shocks, observation costs

24.

The Demand of Liquid Assets with Uncertain Lumpy Expenditures

NBER Working Paper No. w18152
Number of pages: 69 Posted: 16 Jun 2012
Fernando Alvarez and Francesco Lippi II
University of Chicago - Department of Economics and Università degli Studi di Sassari
Downloads 2 (525,022)
Citation 1

Abstract:

25.

Monetary Shocks with Observation and Menu Costs

CEPR Discussion Paper No. DP9488
Number of pages: 62 Posted: 30 May 2013
Fernando Alvarez, Francesco Lippi and Luigi Paciello
University of Chicago - Department of Economics, University of Sassari and Einaudi Institute for Economics and Finance (EIEF)
Downloads 1 (551,610)
Citation 2
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Abstract:

impulse responses, inattentiveness, monetary shocks, sticky prices

26.

Are State and Time Dependent Models Really Different?

NBER Working Paper No. w22361
Number of pages: 74 Posted: 20 Jun 2016
Fernando Alvarez, Francesco Lippi II and Juan Passadore
University of Chicago - Department of Economics, Università degli Studi di Sassari and Einaudi Institute for Economics and Finance (EIEF)
Downloads 0 (541,599)
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Abstract:

27.

Decomposing Duration Dependence in a Stopping Time Model

NBER Working Paper No. w22188
Number of pages: 72 Posted: 25 Apr 2016
Fernando Alvarez, Katarína Borovičková and Robert Shimer
University of Chicago - Department of Economics, New York University (NYU) - Department of Economics and University of Chicago - Department of Economics
Downloads 0 (534,555)
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Abstract:

28.

Sluggish Responses of Prices and Inflation to Monetary Shocks in an Inventory Model of Money Demand

Posted: 26 Nov 2008
Fernando Alvarez, Andrew Atkeson and Chris Edmond
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and New York University

Abstract:

money, prices, velocity, interest rates, inflation, asset markets, segmentation

29.

Time-Varying Risk, Interest Rates, and Exchange Rates in General Equilibrium

Posted: 25 Jul 2008
Fernando Alvarez, Andrew Atkeson and Patrick J. Kehoe
University of Chicago - Department of Economics, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Minneapolis - Research Department

Abstract:

Forward Premium Anomaly, Fama Puzzle, Time-Varying Conditional Variances, Asset Pricing-Puzzle, Segmented Markets, Pricing Kernel

30.

Reducing Inflation in Argentina: Mission Impossible?

Posted: 27 Dec 2005
Fernando Alvarez and Stephen P. Zeldes
University of Chicago - Department of Economics and Columbia Business School - Finance and Economics

Abstract:

Argentina, inflation, hyperinflation, currency board, budget deficits, financial crisis, exchange rate