Thomas M. Mertens

Federal Reserve Bank of San Francisco

Senior Economist

101 Market Street

San Francisco, CA 94105

United States

SCHOLARLY PAPERS

11

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3,239

CITATIONS
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SSRN RANKINGS

Top 25,258

in Total Papers Citations

24

Scholarly Papers (11)

1.

Market Sentiment: A Tragedy of the Commons

Fama-Miller Working Paper, Chicago Booth Research Paper No. 11-07
Number of pages: 6 Posted: 19 Dec 2010 Last Revised: 29 Jul 2011
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
Downloads 799 (29,610)
Citation 1

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Noisy Rational Expectations, Sentiment, Dispersed Information

Solving an Incomplete Markets Model with a Large Cross-Section of Agents

Number of pages: 41 Posted: 08 Jun 2011 Last Revised: 18 Dec 2017
Thomas M. Mertens and Kenneth L. Judd
Federal Reserve Bank of San Francisco and Stanford University - The Hoover Institution on War, Revolution and Peace
Downloads 638 (39,568)
Citation 4

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Incomplete Markets, Heterogeneity, Perturbation Methods

Equilibrium Existence and Approximation for Incomplete Market Models with Substantial Heterogeneity

NYU Working Paper No. 2451/31656
Number of pages: 41 Posted: 24 Apr 2013
Thomas M. Mertens and Kenneth L. Judd
Federal Reserve Bank of San Francisco and Stanford University - The Hoover Institution on War, Revolution and Peace
Downloads 37 (444,043)

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Uninsurable risk, portfolio choice, perturbation methods

3.
Downloads 541 ( 49,780)
Citation 7

The Social Cost of Near-Rational Investment

AFA 2012 Chicago Meetings Paper
Number of pages: 83 Posted: 18 Mar 2008 Last Revised: 31 Jul 2016
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
Downloads 520 (51,754)

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Near-rationality, investment, capital accumulation

The Social Cost of Near-Rational Investment

NBER Working Paper No. w17027
Number of pages: 84 Posted: 09 May 2011
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
Downloads 21 (530,628)

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The Social Cost of Near-Rational Investment

CEPR Discussion Paper No. DP10007
Number of pages: 73 Posted: 25 Sep 2014
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
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dispersed information, information aggregation, information externality, stock market dysfunctionality

4.

Volatile Stock Markets: Equilibrium Computation and Policy Analysis

Number of pages: 52 Posted: 18 Mar 2009 Last Revised: 22 Nov 2011
Thomas M. Mertens
Federal Reserve Bank of San Francisco
Downloads 460 (61,133)
Citation 3

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5.
Downloads 223 (136,138)
Citation 2

Information Aggregation in a DSGE Model

Fama-Miller Working Paper
Number of pages: 46 Posted: 22 Mar 2014 Last Revised: 26 Jun 2016
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
Downloads 218 (138,782)

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Noisy Rational Expectations, Dispersed Information, Business Cycles, Asset Prices, Investment, Portfolio Choice

Information Aggregation in a DSGE Model

NBER Working Paper No. w20193
Number of pages: 47 Posted: 11 Jun 2014
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
Downloads 5 (638,775)

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Information Aggregation in a DSGE Model

CEPR Discussion Paper No. DP10020
Number of pages: 49 Posted: 25 Sep 2014
Tarek A. Hassan and Thomas M. Mertens
University of Chicago - Booth School of Business and Federal Reserve Bank of San Francisco
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Asset Prices, Business Cycles, Dispersed Information, Investment, Noisy Rational Expectations, Portfolio Choice

Not So Disconnected: Exchange Rates and the Capital Stock

Sloan Foundation Economics Research Paper Forthcoming, Fama-Miller Working Paper
Number of pages: 55 Posted: 30 May 2015 Last Revised: 02 Mar 2018
Tarek A. Hassan, Thomas M. Mertens and Tony Zhang
University of Chicago - Booth School of Business, Federal Reserve Bank of San Francisco and Boston University - Questrom School of Business
Downloads 180 (166,199)

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exchange rate disconnect, capital accumulation, international capital flows, uncovered interest parity

Not so Disconnected: Exchange Rates and the Capital Stock

NBER Working Paper No. w21445
Number of pages: 56 Posted: 18 Aug 2015
Tarek A. Hassan, Thomas M. Mertens and Tony Zhang
University of Chicago - Booth School of Business, Federal Reserve Bank of San Francisco and Boston University - Questrom School of Business
Downloads 9 (610,376)

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7.
Downloads 187 (160,576)

Currency Manipulation

Number of pages: 70 Posted: 07 Aug 2016 Last Revised: 20 Jan 2017
Tarek A. Hassan, Thomas M. Mertens and Tony Zhang
University of Chicago - Booth School of Business, Federal Reserve Bank of San Francisco and Boston University - Questrom School of Business
Downloads 171 (174,029)

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fixed exchange rate, managed float, exchange rate stabilization, uncovered interest parity, currency returns

Currency Manipulation

NBER Working Paper No. w22790
Number of pages: 71 Posted: 31 Oct 2016 Last Revised: 16 Nov 2016
Tarek A. Hassan, Thomas M. Mertens and Tony Zhang
University of Chicago - Booth School of Business, Federal Reserve Bank of San Francisco and Boston University - Questrom School of Business
Downloads 16 (562,841)

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Currency Manipulation

CEPR Discussion Paper No. DP11581
Number of pages: 65 Posted: 01 Nov 2016
Tarek A. Hassan, Thomas M. Mertens and Tony Zhang
University of Chicago - Booth School of Business, Federal Reserve Bank of San Francisco and Boston University - Questrom School of Business
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currency returns, exchange rate stabilization, fixed exchange rate, managed float, uncovered interest parity

8.

Fraud Deterrence in Dynamic Mirrleesian Economies

FRB of Philadelphia Working Paper No. 10-7
Number of pages: 46 Posted: 12 Mar 2010 Last Revised: 17 Feb 2011
Roc Armenter and Thomas M. Mertens
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of San Francisco
Downloads 132 (215,594)
Citation 2

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9.

What to Expect From the Lower Bound on Interest Rates: Evidence from Derivatives Prices

FRB of New York Staff Report No. 865
Number of pages: 43 Posted: 30 Aug 2018
Thomas M. Mertens and John C. Williams
Federal Reserve Bank of San Francisco and Federal Reserve Bank of New York
Downloads 18 (530,762)
Citation 3

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zero lower bound, inflation expectations, monetary policy, multiple equilibria

10.

Tying Down the Anchor: Monetary Policy Rules and the Lower Bound on Interest Rates

FRB of New York Staff Report No. 887 (2019)
Number of pages: 42 Posted: 06 May 2019 Last Revised: 17 Aug 2019
Thomas M. Mertens and John C. Williams
Federal Reserve Bank of San Francisco and Federal Reserve Bank of New York
Downloads 11 (572,707)

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monetary policy; inflation expectations; lower bound; inflation target

11.

Monetary Policy Frameworks and the Effective Lower Bound on Interest Rates

FRB of New York Staff Report No. 877
Number of pages: 15 Posted: 07 Jul 2019
Thomas M. Mertens and John C. Williams
Federal Reserve Bank of San Francisco and Federal Reserve Bank of New York
Downloads 4 (618,203)

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monetary policy, zero lower bound, natural rate of interest, inflation targeting, inflation expectations