Alexander L. Wolman

Federal Reserve Bank of Richmond

P.O. Box 27622

Richmond, VA 23261

United States

  • Federal Reserve Bank of Richmond

SCHOLARLY PAPERS

36

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520

Scholarly Papers (36)

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1.

Optimal Monetary Policy

Downloads 300 (109,727)
Citation 83

Optimal Monetary Policy

FRB of Philadelphia Working Paper No. 01-5
Number of pages: 58 Posted: 07 Sep 2001
Aubhik Khan, Robert G. King and Alexander L. Wolman
Ohio State University (OSU), Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 229 (144,326)
Citation 1

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Optimal Monetary Policy

NBER Working Paper No. w9402
Number of pages: 51 Posted: 20 Dec 2002 Last Revised: 31 Oct 2010
Aubhik Khan, Robert G. King and Alexander L. Wolman
Ohio State University (OSU), Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 54 (410,746)
Citation 3

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Optimal Monetary Policy

FRB Richmond Working Paper No. 00-10
Number of pages: 58 Posted: 28 Nov 2012
Aubhik Khan, Robert G. King and Alexander L. Wolman
Ohio State University (OSU), Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 17 (602,427)
Citation 6

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optimal monetary policy, sticky prices, commitment

2.

Boom and Bust in Telecommunications

FRB Richmond Economic Quarterly, Vol. 89, No. 4, Fall 2003, pp. 1-24
Number of pages: 24 Posted: 05 Dec 2012
Elise Couper, John P. Hejkal and Alexander L. Wolman
Independent, Independent and Federal Reserve Bank of Richmond
Downloads 210 (157,198)

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3.

Regional Inflation in a Currency Union: Fiscal Policy vs. Fundamentals

ECB Working Paper No. 180; FRB International Finance Discussion Paper No. 746
Number of pages: 43 Posted: 17 May 2003
Margarida Duarte and Alexander L. Wolman
University of Toronto - Department of Economics and Federal Reserve Bank of Richmond
Downloads 185 (176,648)

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Currency union, fiscal policy, inflation differentials, productivity differentials, nominal rigidities

4.

Sticky Prices, Marginal Cost, and the Behavior of Inflation

FRB Richmond Economic Quarterly, vol. 85, no. 4, Fall 1999, pp. 29-48
Number of pages: 20 Posted: 26 Nov 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 175 (185,639)
Citation 2

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5.

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

Downloads 148 (213,959)
Citation 17

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

FRB International Finance Discussion Paper No. 802
Number of pages: 43 Posted: 01 Jul 2004
Robert G. King and Alexander L. Wolman
Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 58 (396,608)
Citation 3

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Rules vs. discretion, time inconsistency, optimal monetary policy, inflation targets, inflation caps

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

ECB Working Paper No. 343
Number of pages: 55 Posted: 25 Aug 2004
Robert G. King and Alexander L. Wolman
Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 53 (414,281)

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Monetary policy, discretion, time-consistency, multiple equilibria, complementarity

Monetary Discretion, Pricing Complementarity and Dynamic Multiple Equilibria

NBER Working Paper No. w9929
Number of pages: 33 Posted: 29 Aug 2003 Last Revised: 04 Nov 2010
Robert G. King and Alexander L. Wolman
Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 25 (547,283)
Citation 2

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Monetary Discretion, Pricing Complementarity, and Dynamic Multiple Equilibria

FRB Richmond Working Paper No. 04-05
Number of pages: 49 Posted: 05 Dec 2012
Robert G. King and Alexander L. Wolman
Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 12 (638,991)

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monetary policy, discretion, time-consistency, multiple equilibria, complementarity

6.

Payment Choice and the Future of Currency: Insights from Two Billion Retail Transactions

FRB Richmond Working Paper No. 14-09
Number of pages: 50 Posted: 05 Apr 2014 Last Revised: 09 Apr 2014
Zhu Wang and Alexander L. Wolman
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 142 (221,130)
Citation 14

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Payment choice, Money demand, Consumer behavior

7.

Large Excess Reserves in the U.S.: A View from the Cross-Section of Banks

FRB Richmond Working Paper No. 12-05
Number of pages: 46 Posted: 20 Dec 2012
Huberto M. Ennis and Alexander L. Wolman
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 120 (251,875)
Citation 23

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bank balance sheets, bank reserves, liquidity, monetary policy, bank capital

8.

Zero Inflation and the Friedman Rule: A Welfare Comparison

FRB Richmond Economic Quarterly, Vol. 83, No. 4, Fall 1997, pp. 1-21
Number of pages: 21 Posted: 19 Nov 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 84 (319,707)

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9.

The Pitfalls of Discretionary Monetary Policy

FRB of Philadelphia Working Paper No. 01-16
Number of pages: 40 Posted: 13 Jan 2002
Aubhik Khan, Robert G. King and Alexander L. Wolman
Ohio State University (OSU), Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 78 (334,098)
Citation 1

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discretion, time-consistency problem, optimal monetary policy, sticky prices, multiple equilibria

10.

The Frequency and Costs of Individual Price Adjustment

FRB Richmond Economic Quarterly, Vol. 86, No. 4, Fall 2000, pp. 1-22
Number of pages: 22 Posted: 28 Nov 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 70 (355,182)
Citation 1

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11.

Discretionary Monetary Policy in the Calvo Model

Downloads 69 (357,876)
Citation 5

Discretionary Monetary Policy in the Calvo Model

Number of pages: 41 Posted: 17 Feb 2010 Last Revised: 29 Mar 2017
Willem Van Zandweghe and Alexander L. Wolman
Federal Reserve Bank of Cleveland and Federal Reserve Bank of Richmond
Downloads 38 (476,058)
Citation 3

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time-consisten monetary policy, Discretion; Markov-perfect equilibrium; Sticky prices, Relative price distortion

Discretionary Monetary Policy in the Calvo Model

FRB Richmond Working Paper No. 11-03
Number of pages: 41 Posted: 18 Dec 2012
Willem Van Zandweghe and Alexander L. Wolman
Federal Reserve Bank of Cleveland and Federal Reserve Bank of Richmond
Downloads 31 (511,241)
Citation 3

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time-consistent optimal monetary policy, relative price distortion, sticky prices, discretion

12.

Inflation Targeting in a St. Louis Model of the 21st Century

NBER Working Paper No. w5507
Number of pages: 40 Posted: 21 Apr 1998 Last Revised: 30 Sep 2010
Robert G. King and Alexander L. Wolman
Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 64 (372,220)
Citation 4

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13.

Inflation and Real Activity with Firm-Level Productivity Shocks

Downloads 62 (378,302)
Citation 7

Inflation and Real Activity with Firm-Level Productivity Shocks

FRB of Philadelphia Working Paper No. 13-35
Number of pages: 46 Posted: 16 Sep 2013
Michael Dotsey, Robert G. King and Alexander L. Wolman
Federal Reserve Bank of Philadelphia, Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 60 (389,885)
Citation 7

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Pricing

Inflation and Real Activity with Firm Level Productivity Shocks

FRB of Philadelphia Working Paper No. 18-19
Number of pages: 32 Posted: 23 Jul 2018 Last Revised: 29 Apr 2020
Michael Dotsey and Alexander L. Wolman
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Richmond
Downloads 2 (720,466)

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Inflation, microeconomics

14.

Federal Reserve Interdistrict Settlement

FRB Economic Quarterly, Vol. 99, No. 2, Second Quarter 2013, pp. 117-141., Federal Reserve Bank of Richmond Research Paper
Number of pages: 25 Posted: 29 May 2014
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 48 (425,587)

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15.

Trend Inflation, Firm-Specific Capital, and Sticky Prices

FRB Richmond Economic Quarterly, vol. 91, no. 4, Fall 2005, pp. 57-83
Number of pages: 27 Posted: 06 Dec 2012
Andreas Hornstein and Alexander L. Wolman
Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 42 (448,999)
Citation 2

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16.

Real Implications of the Zero Bound on Nominal Interest Rates

FRB Richmond Working Paper No. 03-15
Number of pages: 43 Posted: 03 Dec 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 41 (453,084)
Citation 8

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zero bound, monetary policy, deflation, interest rates, price-level stationarity

17.

Housing and the Great Recession: A VAR Accounting Exercise

FRB Richmond Economic Quarterly, vol. 97, no. 1, First Quarter 2011, pp. 45-66
Number of pages: 22 Posted: 19 Dec 2012
Samuel Henly and Alexander L. Wolman
Independent and Federal Reserve Bank of Richmond
Downloads 29 (508,832)

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18.

State Dependent Pricing and Dynamics of Business Cycles

FRB Richmond Working Paper No. 97-2
Number of pages: 49 Posted: 19 Nov 2012
Michael Dotsey, Robert G. King and Alexander L. Wolman
Federal Reserve Bank of Philadelphia, Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 29 (508,832)
Citation 9

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19.

Potential Consequences of Linear Approximation in Economics

FRB Richmond Economic Quarterly, Vol. 89, No. 1, Winter 2003, pp. 51-67
Number of pages: 17 Posted: 05 Dec 2012
Alexander L. Wolman and Elise Couper
Federal Reserve Bank of Richmond and Independent
Downloads 27 (519,630)

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20.

Fiscal Policy and Regional Inflation in a Currency Union

FRB Richmond Working Paper No. 03-11
Number of pages: 34 Posted: 03 Dec 2012
Margarida Duarte and Alexander L. Wolman
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 25 (531,268)
Citation 11

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currency union, fiscal policy, inflation differentials

21.

K-Core Inflation

FRB Richmond Economic Quarterly, vol. 97, no. 4, Fourth Quarter 2011, pp. 415-430
Number of pages: 16 Posted: 19 Dec 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 24 (537,366)

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22.

Consumer Payment Choice in the Fifth District: Learning from a Retail Chain

Economic Quarterly, Issue 1Q, pp. 51-78, 2016
Number of pages: 28 Posted: 18 Feb 2017
Zhu Wang and Alexander L. Wolman
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 20 (562,048)
Citation 1

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payments, consumer behavior

23.

Currency Quality and Changes in the Behavior of Depository Institutions

FRB Richmond Economic Quarterly, vol. 93, no. 4, Fall 2007, pp. 361-391
Number of pages: 31 Posted: 09 Dec 2012
Hubert Janicki, Nashat Moin, Andrea Waddle and Alexander L. Wolman
U.S. Census Bureau, Independent, Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 20 (562,048)

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24.

Monetary Policy and Global Equilibria in a Production Economy

FRB Richmond Economic Quarterly, vol. 96, no. 4, Fourth Quarter 2010, pp. 317-337
Number of pages: 21 Posted: 18 Dec 2012
Tim Hursey and Alexander L. Wolman
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 19 (568,483)

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25.

Bond Price Premiums

FRB Richmond Economic Quarterly, vol. 92, no. 4, Fall 2006, pp. 317-336
Number of pages: 20 Posted: 08 Dec 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 18 (574,827)

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26.

A Primer on Optimal Monetary Policy with Staggered Price-Setting

FRB Richmond Economic Quarterly, Vol. 87, No. 4, Fall 2001, pp. 27-52
Number of pages: 26 Posted: 30 Nov 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 18 (574,827)

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27.

Staggered Price Setting and the Zero Bound on Nominal Interest Rates

FRB Richmond Economic Quarterly, vol. 84, no. 4, Fall 1998, pp. 1-24
Number of pages: 24 Posted: 21 Nov 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 17 (581,279)
Citation 3

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28.

Relative Price Changes and the Optimal Inflation Rate

Economic Quarterly, Issue 3Q, pp. 245-274, 2015
Number of pages: 30 Posted: 04 Nov 2016
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 16 (587,526)

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29.

Nominal Frictions, Relative Price Adjustment, and the Limits to Monetary Policy

FRB Richmond Economic Quarterly, Vol. 94, No. 3, Summer 2008, pp. 219-233
Number of pages: 16 Posted: 11 Dec 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 15 (594,000)

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30.

The Optimal Rate of Inflation with Trending Relative Prices

FRB Richmond Working Paper No. 09-2
Number of pages: 34 Posted: 12 Dec 2012
Alexander L. Wolman
Federal Reserve Bank of Richmond
Downloads 13 (607,414)
Citation 10

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relative price trends, sticky prices, optimal rate of inflation

31.

Inflation and Changing Expenditure Shares

FRB Richmond Economic Quarterly, vol. 91, no. 1, Winter 2005, pp. 1-20
Number of pages: 20 Posted: 06 Dec 2012
Alexander L. Wolman and Fan Ding
Federal Reserve Bank of Richmond and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 12 (614,359)

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32.

An Inquiry into the Existence and Uniqueness of Equilibrium with State-Dependent Pricing

FRB Richmond Working Paper No. 04-04
Number of pages: 71 Posted: 05 Dec 2012
A. Andrew John and Alexander L. Wolman
Melbourne Business School and Federal Reserve Bank of Richmond
Downloads 12 (614,359)
Citation 7

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price adjustment, menu costs, state-dependent pricing, multiple equilibria

33.

The Pitfalls of Monetary Discretion

FRB Richmond Working Paper No. 01-8
Number of pages: 40 Posted: 29 Nov 2012
Aubhik Khan, Robert G. King and Alexander L. Wolman
Ohio State University (OSU), Boston University - Department of Economics and Federal Reserve Bank of Richmond
Downloads 11 (621,183)
Citation 2

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discretion, time-consistency problem, optimal monetary policy, sticky prices, multiple equilibria

34.

Investigating Nonneutrality in a State-Dependent Pricing Model with Firm-Level Productivity Shocks

Downloads 9 (634,896)
Citation 2

Investigating Nonneutrality in a State-Dependent Pricing Model with Firm-Level Productivity Shocks

FRB of Philadelphia Working Paper No. 19-9
Number of pages: 41 Posted: 06 Feb 2019 Last Revised: 21 Feb 2019
Michael Dotsey and Alexander L. Wolman
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Richmond
Downloads 9 (661,489)
Citation 1

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price-modeling

Investigating Nonneutrality in a State‐Dependent Pricing Model with Firm‐Level Productivity Shocks

International Economic Review, Vol. 61, Issue 1, pp. 159-188, 2020
Number of pages: 30 Posted: 22 May 2020
Michael Dotsey and Alexander L. Wolman
Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Richmond
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35.

The Decline in Currency Use at a National Retail Chain

Economic Quarterly, Issue 2Q, pp. 53-77, 2018
Number of pages: 25 Posted: 22 Oct 2018 Last Revised: 29 Apr 2020
Zhu Wang and Alexander L. Wolman
Federal Reserve Banks - Federal Reserve Bank of Richmond and Federal Reserve Bank of Richmond
Downloads 9 (634,896)

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retail payments, transactions, currency

36.

Does State-Dependent Pricing Imply Coordination Failure?

FRB Richmond Working Paper No. 99-5
Number of pages: 47 Posted: 26 Nov 2012
A. John and Alexander L. Wolman
Michigan State University and Federal Reserve Bank of Richmond
Downloads 8 (641,900)
Citation 2

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