The Fed's Effect on Excess Returns and Inflation is Much Bigger Than You Think

Macroeconomics and Reality

1980 • 12,249 citations

Time Series Analysis.

1995 • 11,935 citations

Discretion versus policy rules in practice

1993 • 9,049 citations

Econometric policy evaluation: A critique

1976 • 5,457 citations

Economic Forces and the Stock Market

1986 • 5,321 citations

The Science of Monetary Policy: A New Keynesian Perspective

1999 • 5,015 citations

Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*

2000 • 4,799 citations

Expectations and the neutrality of money

1972 • 4,734 citations

Business conditions and expected returns on stocks and bonds

1989 • 4,137 citations

Why Does Stock Market Volatility Change Over Time?

1989 • 3,555 citations

MONEY, INCOME, AND CAUSALITY

1972 • 3,059 citations

The Federal funds rate and the channels of monetary transmission

1992 • 2,837 citations

Asset returns and inflation

1977 • 2,770 citations

Stock Returns, Real Activity, Inflation, and Money

1981 • 2,625 citations

Stock Prices, Earnings, and Expected Dividends

1988 • 2,383 citations

"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule

1975 • 2,222 citations

Analysis of time series subject to changes in regime

1990 • 1,948 citations

Monetary Policy Shocks: What Have We Learned and to What End?

1998 • 1,908 citations

Monetary Theory and Policy

1999 • 1,903 citations

Interpreting the macroeconomic time series facts

1992 • 1,879 citations

A Variance Decomposition for Stock Returns

1991 • 1,817 citations

An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy

1997 • 1,801 citations

Measuring Monetary Policy

1998 • 1,691 citations

Systematic Monetary Policy and the Effects of Oil Price Shocks

1997 • 1,543 citations

Modeling the conditional distribution of interest rates as a regime-switching process

1996 • 1,526 citations

Some Unpleasant Monetarist Arithmetic

1984 • 1,481 citations

AN APPROACH TO TIME SERIES SMOOTHING AND FORECASTING USING THE EM ALGORITHM

1982 • 1,471 citations

Stock Returns, Expected Returns, and Real Activity

1990 • 1,453 citations

Credit, Money, and Aggregate Demand

1988 • 1,346 citations

A Monetary History of the United States, 1867-1960

2008 • 1,205 citations

Alternative explanations of the money-income correlation

1986 • 1,197 citations

Are Forecasting Models Usable for Policy Analysis?

1986 • 1,181 citations

The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds

1996 • 1,174 citations

What Does Monetary Policy Do?

1996 • 1,136 citations

The impact of monetary policy on bank balance sheets

1995 • 1,106 citations

Federal Reserve Information and the Behavior of Interest Rates

2000 • 1,001 citations

Error Bands for Impulse Responses

1999 • 965 citations

Small-sample Confidence Intervals for Impulse Response Functions

1998 • 911 citations

On Stock Market Returns and Monetary Policy

1997 • 905 citations

The Fiscal and Monetary Linkage between Stock Returns and Inflation

1983 • 895 citations

Banking in the theory of finance

1980 • 808 citations

Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz

1989 • 723 citations

Money and Business Cycles

1963 • 595 citations

The simulation smoother for time series models

1995 • 588 citations

Interpreting the evidence on money-income causality

1989 • 552 citations

Nobel Lecture: Monetary Neutrality

1996 • 537 citations

Stock Return Predictability and The Role of Monetary Policy

1997 • 528 citations

Causal Relations Among Stock Returns, Interest Rates, Real Activity, and Inflation

1992 • 521 citations

Sticky price and limited participation models of money: A comparison

1997 • 497 citations

Inflation, real returns and capital investment

1982 • 491 citations

Forecasting the Forecasts of Others

1983 • 485 citations

The identification of monetary policy disturbances explaining the liquidity puzzle

1995 • 480 citations

Why does high inflation raise inflation uncertainty?

1992 • 472 citations

Alternative algorithms for the estimation of dynamic factor, mimic and varying coefficient regression models

1983 • 467 citations

The Dynamic Impacts of Monetary Policy: An Exercise in Tentative Identification

1994 • 465 citations

Nonlinear Dynamic Structures

1993 • 465 citations

Stock returns and inflation

1987 • 432 citations

Are Business Cycles All Alike

1984 • 336 citations

Is there a "credit channel" for monetary policy?

1995 • 317 citations

Inflation and Asset Returns in a Monetary Economy

1992 • 266 citations

The Cost Channel of Monetary Transmission

2001 • 249 citations

In search of the liquidity effect

1992 • 244 citations

The Money Supply Announcements Puzzle: Review and Interpretation

1983 • 219 citations

Shocks

1994 • 213 citations

Credit in the macroeconomy

1993 • 207 citations

Macroeconomics and Methodology

1996 • 203 citations

What do the VARs mean? Measuring the output effects of monetary policy

1998 • 201 citations

Industry Returns and the Fisher Effect

1994 • 192 citations

Monetary Policy Shifts and Long-Term Interest Rates

1996 • 192 citations

A procedure for the modeling of non-stationary time series

1978 • 180 citations

The Financial Accelerator and the Flight to Quality

1994 • 175 citations

Economic Activity and the Short-Term Credit Markets: An Analysis of Prices and Quantities

1993 • 170 citations

The Cost Channel of Monetary Transmissions

2000 • 167 citations

Stock Returns and Inflation with Supply and Demand Disturbances

1999 • 162 citations

Monetary policy transmission through the consumption-wealth channel

2002 • 155 citations

The Commodity-Consumer Price Connection: Fact or Fable?

1995 • 135 citations

Monetary Regimes and the Relation Between Stock Returns and Inflationary Expectations

1990 • 120 citations

Does Monetary Policy Generate Recessions

1998 • 117 citations

Money Supply Announcements and Interest Rates: Another View

1983 • 116 citations

Stock Returns Predictability and the Role of Monetary Policy

1998 • 83 citations

Interest rates and monetary policy uncertainty

1986 • 71 citations

Resolving the Liquidity Effect

1995 • 70 citations

Industry Returns and the Fisher Effect

1994 • 65 citations

Monetary Policy and Bank Lending

1993 • 50 citations

The Fed's Conduct of Monetary Policy: Has it Changed and Does it Matter?

2000 • 43 citations

Regime Shifts in Short Term Riskless Interest Rates

1995 • 22 citations

Interpreting Evidence on Money-Income Causality

1987 • 20 citations

Shocks: A comment

1994 • 18 citations

Theoretical issues of liquidity effects

1995 • 13 citations

Information, sticky prices and macroeconomic foundations

1995 • 2 citations

What do we know about how monetary policy affects the economy: a conference panel discussion

1995 • 1 citations

Deleted Work

1955 • 0 citations