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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

  • University of Chicago - Department of Economics

    • Email
    • Tel: 773-702-4412
    • Fax: 773-702-8490
SCHOLARLY PAPERS

30

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864

CITATIONS
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334

Scholarly Papers (30)

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1.

Financial Innovation and the Transactions Demand for Cash

Downloads 161 (155,093)
Citation 22

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

2.

Fixed Term Employment Contracts in an Equilibrium Search Model

Downloads 116 (202,031)
Citation 4

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:

6.

Price Setting with Menu Cost for Multi-Product Firms

Downloads 39 (366,346)
Citation 3

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:

8.

Using Asset Prices to Measure the Cost of Business Cycles

Downloads 37 (373,423)
Citation 45

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:

12.

Quantitative Asset Pricing Implications of Endogenous Solvency Constraints

Downloads 26 (418,903)
Citation 36

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:

13.

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

Downloads 25 (423,803)
Citation 51

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.

Optimal Price Setting with Observation and Menu Costs

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

15.

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

Downloads 21 (444,328)

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:

16.

Money and Interest Rates with Endogeneously Segmented Markets

Downloads 20 (449,536)
Citation 41

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

17.

Persistent Liquidity Effects and Long Run Money Demand

Downloads 14 (480,860)

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

18.

Durable Consumption and Asset Management with Transaction and Observation Costs

Downloads 14 (480,860)
Citation 8

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:

20.

Small and Large Price Changes and the Propagation of Monetary Shocks

Downloads 12 (491,272)

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
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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

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