Karel Mertens

Federal Reserve Banks - Federal Reserve Bank of Dallas

2200 North Pearl Street

PO Box 655906

Dallas, TX 75265-5906

United States

  • Federal Reserve Banks - Federal Reserve Bank of Dallas

SCHOLARLY PAPERS

31

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11,366

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662

Scholarly Papers (31)

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1.

Work from Home Before and After the COVID-19 Outbreak

Number of pages: 71 Posted: 17 Feb 2021
Alexander Bick, Adam Blandin and Karel Mertens
Federal Reserve Banks - Research Division, Vanderbilt University and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 5,172 (3,785)
Citation 86

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working from home, telecommuting, telework, remote work, COVID-19, pandemic

2.

Work from Home Before and after the Covid-19 Outbreak

Downloads 2,859 ( 9,930)
Citation 18

Work from Home Before and after the Covid-19 Outbreak

FRB of Dallas Working Paper No. 2017
Number of pages: 72 Posted: 30 Jun 2020 Last Revised: 28 Aug 2021
Alexander Bick, Adam Blandin and Karel Mertens
Federal Reserve Banks - Research Division, Vanderbilt University and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 2,840 (9,841)
Citation 1

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work from home, telecommuting, telework, remote work, COVID-19, pandemic

Work from Home Before and after the Covid-19 Outbreak

CEPR Discussion Paper No. DP15000
Number of pages: 43 Posted: 28 Jul 2020 Last Revised: 27 May 2022
Alexander Bick, Adam Blandin and Karel Mertens
Federal Reserve Banks - Research Division, Vanderbilt University and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 19 (1,207,771)
Citation 17
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3.

The Near Term Growth Impact of the Tax Cuts and Jobs Act

FRB of Dallas Working Paper No. 1803
Number of pages: 16 Posted: 27 Jul 2018 Last Revised: 29 Apr 2020
Karel Mertens
Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 681 (83,307)

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Fiscal policy, Taxation, Tax Cuts and Jobs Act

4.

Do Monetary Policy Announcements Shift Household Expectations?

Downloads 326 (200,291)
Citation 18

Do Monetary Policy Announcements Shift Household Expectations?

FRB of New York Staff Report No. 897, September 2019
Number of pages: 67 Posted: 09 Sep 2019 Last Revised: 22 Jan 2020
Daniel J. Lewis, Christos Makridis and Karel Mertens
University College London, Stanford University and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 322 (201,286)
Citation 14

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monetary policy shocks, central bank communication, information rigidities, consumer confidence, high-frequency identification

Do Monetary Policy Announcements Shift Household Expectations?

CEPR Discussion Paper No. DP14360
Number of pages: 69 Posted: 11 Feb 2020
Karel Mertens, Daniel J. Lewis and Christos Makridis
Federal Reserve Banks - Federal Reserve Bank of Dallas, University College London and Stanford University
Downloads 4 (1,373,961)
Citation 4
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central bank communication, consumer con dence, high frequency identi cation, informational rigidities, monetary policy shocks

5.

A Robust Test for Weak Instruments for 2sls with Multiple Endogenous Regressors

Downloads 309 (212,260)
Citation 2

A Robust Test for Weak Instruments for 2sls with Multiple Endogenous Regressors

FRB of Dallas Working Paper No. 2208
Number of pages: 49 Posted: 23 Jun 2022 Last Revised: 30 Dec 2022
Daniel J. Lewis and Karel Mertens
University College London and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 225 (291,339)
Citation 2

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Instrumental Variables, Weak Instruments Test, Multiple Endogenous Regressors, Heteroskedasticity, Serial Correlation

A Robust Test for Weak Instruments with Multiple Endogenous Regressors

FRB of New York Staff Report No. 1020
Number of pages: 33 Posted: 24 Jun 2022
Daniel J. Lewis and Karel Mertens
University College London and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 84 (652,620)

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instrumental variables, weak instruments test, multiple endogenous regressors, heteroskedasticity, serial correlation

6.

Distributional Considerations for Monetary Policy Strategy

FEDS Working Paper No. 2020-73
Number of pages: 27 Posted: 02 Sep 2020
Laura Feiveson, Nils Gornemann, Julie L. Hotchkiss, Karel Mertens and Jae Sim
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Dallas and Board of Governors of the Federal Reserve System
Downloads 293 (224,697)
Citation 8

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Heterogeneous agent New Keynesian models, Representative agent New Keynesian model, Effective lower bound, Inequality, Hand to mouth, Average inflation targeting, price-level targeting

7.

The Returns to Government R&D: Evidence from U.S. Appropriations Shocks

FRB of Dallas Working Paper No. 2305
Number of pages: 44 Posted: 19 May 2023 Last Revised: 24 Feb 2025
Andrew Fieldhouse and Karel Mertens
Texas A&M University - Mays Business School and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 270 (244,483)

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government, R&, D, productivity, growth, narrative analysis

8.

Measuring Real Activity Using a Weekly Economic Index

Downloads 200 (327,554)
Citation 31

Measuring Real Activity Using a Weekly Economic Index

FRB of New York Staff Report No. 920, April 2020
Number of pages: 25 Posted: 14 Apr 2020 Last Revised: 14 Sep 2020
Daniel J. Lewis, Karel Mertens, James H. Stock and Mihir Trivedi
University College London, Federal Reserve Banks - Federal Reserve Bank of Dallas, Harvard University - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 168 (382,993)
Citation 24

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weekly economic index, high frequency, measurement of economic activity, forecasting

U.S. Economic Activity During the Early Weeks of the Sars-Cov-2 Outbreak

NBER Working Paper No. w26954
Number of pages: 16 Posted: 13 Apr 2020 Last Revised: 24 Feb 2023
Daniel J. Lewis, Karel Mertens and James H. Stock
University College London, Federal Reserve Banks - Federal Reserve Bank of Dallas and Harvard University - Department of Economics
Downloads 32 (1,043,003)
Citation 7

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9.

The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States: Reply to Jentsch and Lunsford

FRB of Dallas Working Paper No. 1805
Number of pages: 18 Posted: 15 Jun 2018 Last Revised: 29 Apr 2020
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and University College London
Downloads 178 (364,324)
Citation 295

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Fiscal Policy, structural vector autoregressions, tax shocks

10.

Mobility and Engagement Following the SARS-Cov-2 Outbreak

FRB of Dallas Working Paper No. 2014
Number of pages: 21 Posted: 23 May 2020
Tyler Atkinson, James Dolmas, Christoffer Koch, Evan F. Koenig, Karel Mertens, Anthony Murphy and Kei-Mu Yi
affiliation not provided to SSRN, affiliation not provided to SSRN, Federal Reserve Bank of Dallas, affiliation not provided to SSRN, Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Dallas and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 144 (436,425)
Citation 1

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Social Distancing Index, Location Data, COVID-19, SARS-Cov-2, Social Distancing and Economic Activity

11.

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated US Tax Policy Shocks

National Bank of Belgium Working Paper No. 181
Number of pages: 60 Posted: 24 Sep 2010 Last Revised: 27 Sep 2010
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 124 (491,880)
Citation 114

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policy shocks, tax liabilities, anticipation effects, business cycles

12.

Do Monetary Policy Announcements Shift Household Expectations?

FRB of Dallas Working Paper No. 1906
Number of pages: 67 Posted: 22 Oct 2019 Last Revised: 29 Apr 2020
Daniel J. Lewis, Christos Makridis and Karel Mertens
University College London, Stanford University and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 103 (565,584)

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Monetary policy shocks, central bank communications, information rigidities, consumer confidence, high frequency identification

13.

Work from Home and Interstate Migration

Bick, A., Blandin, A., Mertens, K., Rubinton, H., 2024; Work from Home and Interstate Migration, Federal Reserve Bank of St. Louis Working Paper 2024-012. URL https://doi.org/10.20955/wp.2024.012
Number of pages: 49 Posted: 24 May 2024
Alexander Bick, Adam Blandin, Karel Mertens and Hannah Rubinton
Federal Reserve Banks - Federal Reserve Bank of St. Louis, Vanderbilt University, Federal Reserve Banks - Federal Reserve Bank of Dallas and Federal Reserve Banks - Federal Reserve Bank of St. Louis
Downloads 98 (585,366)

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Interstate Migration, Work from Home, Remote Work, Labor Mobility

14.

High Frequency Data and a Weekly Economic Index during the Pandemic

FRB of New York Staff Report No. 954
Number of pages: 9 Posted: 23 Dec 2020
Daniel J. Lewis, Karel Mertens, James H. Stock and Mihir Trivedi
University College London, Federal Reserve Banks - Federal Reserve Bank of Dallas, Harvard University - Department of Economics and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 87 (630,949)
Citation 5

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weekly economic index, high frequency, measurement of economic activity, forecasting _________________

15.

Dynamic Identification Using System Projections on Instrumental Variables

Downloads 80 (663,095)
Citation 1

Dynamic Identification Using System Projections on Instrumental Variables

FRB of Dallas Working Paper No. 2204
Number of pages: 55 Posted: 01 Apr 2022 Last Revised: 22 Jan 2023
Daniel J. Lewis and Karel Mertens
University College London and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 67 (744,391)

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Structural Equations, Instrumental Variables, Impulse Responses, Robust Inferences, Phillips Curve, Inflation Dynamics

Dynamic Identification Using System Projections and Instrumental Variables

CEPR Discussion Paper No. DP17153
Number of pages: 56 Posted: 27 May 2022
Daniel J. Lewis and Karel Mertens
University College London and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 13 (1,287,137)
Citation 1
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Impulse Responses, inflation dynamics, instrumental variables, Phillips curve, Robust inference, Structural equations

16.

Measuring Real Activity Using a Weekly Economic Index

FRB of Dallas Working Paper No. 2011
Number of pages: 31 Posted: 29 Apr 2020 Last Revised: 08 May 2020
Daniel J. Lewis, Karel Mertens and James H. Stock
University College London, Federal Reserve Banks - Federal Reserve Bank of Dallas and affiliation not provided to SSRN
Downloads 61 (768,323)
Citation 3

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17.

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks

Downloads 59 (781,450)
Citation 2

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks

NBER Working Paper No. w16289
Number of pages: 52 Posted: 24 Aug 2010 Last Revised: 06 Jul 2023
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 56 (818,628)
Citation 1

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Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks

CEPR Discussion Paper No. DP7370
Number of pages: 53 Posted: 26 Aug 2009
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 3 (1,380,224)
Citation 1
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anticipation effects, business cycles, fiscal policy, tax liabilities

18.

The Postpandemic U.S. Immigration Surge: New Facts and Inflationary Implications

FRB of Dallas Working Paper No. 2407
Number of pages: 38 Posted: 04 Oct 2024
Anton Cheremukhin, Sewon Hur, Ronald Mau, Karel Mertens, Alexander W. Richter and Xiaoqing Zhou
Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Dallas and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 54 (816,483)

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immigration, population growth, inflation, skills, hand-to-mouth

19.

Marginal Tax Rates and Income: New Time Series Evidence

Downloads 52 (831,460)
Citation 11

Marginal Tax Rates and Income: New Time Series Evidence

NBER Working Paper No. w19171
Number of pages: 81 Posted: 29 Jun 2013 Last Revised: 21 May 2023
Karel Mertens and Jose Montiel Olea
Federal Reserve Banks - Federal Reserve Bank of Dallas and New York University (NYU)
Downloads 51 (857,909)
Citation 1

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Marginal Tax Rates and Income: New Time Series Evidence

CEPR Discussion Paper No. DP10896
Number of pages: 69 Posted: 28 Oct 2015
Karel Mertens
Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 1 (1,395,640)
Citation 10
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Fiscal Policy, Income, Income Distribution, Marginal Tax Rates, Tax Changes

20.

A Narrative Analysis of Federal Appropriations for Research and Development

FRB of Dallas Working Paper No. 2316
Number of pages: 631 Posted: 28 Dec 2023
Andrew Fieldhouse and Karel Mertens
Texas A&M University - Mays Business School and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 39 (943,504)

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narrative analysis, government, R&, D, public investments, fiscal policy

21.

The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar Us Housing Credit Policy

NBER Working Paper No. w23154
Number of pages: 87 Posted: 13 Feb 2017 Last Revised: 08 Apr 2023
Andrew Fieldhouse, Karel Mertens and Morten O. Ravn
Texas A&M University - Mays Business School, Federal Reserve Banks - Federal Reserve Bank of Dallas and University College London
Downloads 37 (963,257)
Citation 10

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22.

A Narrative Analysis of Mortgage Asset Purchases by Federal Agencies

NBER Working Paper No. w23165
Number of pages: 164 Posted: 13 Feb 2017 Last Revised: 19 Apr 2023
Andrew Fieldhouse and Karel Mertens
Texas A&M University - Mays Business School and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 35 (983,541)
Citation 2

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23.

A Reconciliation of SVAR and Narrative Estimates of Tax Multipliers

CEPR Discussion Paper No. DP8973
Number of pages: 44 Posted: 25 May 2012
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and University College London
Downloads 28 (1,059,983)
Citation 24
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fiscal policy, measurement error, narrative identification, tax changes, vector autoregressions

24.

Fiscal Policy in an Expectations Driven Liquidity Trap

CEPR Discussion Paper No. DP7931
Number of pages: 55 Posted: 26 Jul 2010
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 18 (1,181,857)
Citation 17
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confidence shocks, fiscal policy, liquidity trap, sunspots

25.

Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks

CEPR Discussion Paper No. DP7505
Number of pages: 55 Posted: 17 Nov 2009
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 15 (1,218,228)
Citation 7
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anticipation effects, fiscal policy, structural estimation, tax liabilities

26.

Measuring the Impact of Fiscal Policy in the Face of Anticipation: A Structural VAR Approach

CEPR Discussion Paper No. DP7423
Number of pages: 46 Posted: 08 Sep 2009
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 14 (1,229,865)
Citation 3
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anticipation effects, fiscal policy, structural vector autoregressions

27.

The Dynamic Effects of Personal and Corporate Income Tax Changes in the United States

CEPR Discussion Paper No. DP8554
Number of pages: 50 Posted: 16 Sep 2011
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and University College London
Downloads 9 (1,282,112)
Citation 1
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fiscal policy, measurement error, narrative identification, tax changes

28.

Credit Channels in a Liquidity Trap

CEPR Discussion Paper No. DP8322
Number of pages: 36 Posted: 18 Apr 2011
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and University College London
Downloads 9 (1,282,112)
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collateral constraint, expectations, housing, leverage, liquidity trap

29.

The Social Returns to Public R&D

NBER Working Paper No. w33780
Number of pages: 25 Posted: 13 May 2025
Andrew Fieldhouse and Karel Mertens
Texas A&M University - Mays Business School and Federal Reserve Banks - Federal Reserve Bank of Dallas
Downloads 4 (1,321,615)
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30.

Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks

CEPR Discussion Paper No. DP7962
Number of pages: 47 Posted: 24 Aug 2010
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 4 (1,316,520)
Citation 3
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business cycles, hours worked, tax shocks, technology shocks

31.

The Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks: Theory and Empirical Evidence

CEPR Discussion Paper No. DP6673
Number of pages: 55 Posted: 09 Jun 2008
Karel Mertens and Morten O. Ravn
Federal Reserve Banks - Federal Reserve Bank of Dallas and European University Institute - Economics Department (ECO)
Downloads 4 (1,316,520)
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anticipation effects, fiscal policy, structural estimation, tax liabilities