Does the federal reserve possess an exploitable informational advantage?

Rules Rather than Discretion: The Inconsistency of Optimal Plans

1977 • 7,667 citations

The Optimal Degree of Commitment to an Intermediate Monetary Target

1985 • 3,677 citations

Rules, discretion and reputation in a model of monetary policy

1983 • 3,635 citations

What Do a Million Observations on Banks Say About the Transmission of Monetary Policy?

2000 • 2,382 citations

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

1975 • 2,222 citations

A Positive Theory of Monetary Policy in a Natural Rate Model

1983 • 2,070 citations

Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule

1977 • 2,007 citations

Optimal contracts for central bankers

1995 • 1,191 citations

The impact of monetary policy on bank balance sheets

1995 • 1,106 citations

Uncertainty and the effectiveness of policy

1967 • 1,049 citations

An Equilibrium Model of the Business Cycle

1975 • 1,045 citations

Staggered Wage Setting in a Macro Model

2016 • 1,038 citations

Federal Reserve Information and the Behavior of Interest Rates

2000 • 1,001 citations

Rational expectations and the role of monetary policy

1976 • 999 citations

Optimal monetary policy inertia

1999 • 755 citations

Liquidity and interest rates

1990 • 689 citations

The effect of changes in the federal funds rate target on market interest rates in the 1970s

1989 • 623 citations

Testing the Rationality of Price Forecasts: New Evidence from Panel Data

1990 • 528 citations

Interest rates and the conduct of monetary policy

1991 • 448 citations

Is the Fed Too Timid? Monetary Policy in an Uncertain World

2001 • 398 citations

Monetary Policy and Bank Lending

1994 • 366 citations

Optimum Decision Rules for Government and Industry

1965 • 365 citations

Optimal Decision Rules for Government and Industry

1965 • 355 citations

Is Bank Supervision Central to Central Banking?

1999 • 238 citations

The optimal collection of seigniorage

1987 • 174 citations

Does the fed act gradually? A VAR analysis

2000 • 163 citations

Why Does the Fed Smooth Interest Rates?

1991 • 103 citations

Modeling the Fed: a forward- looking monetary policy reaction function

1986 • 60 citations

Regional economic conditions and the FOMC votes of district presidents

1991 • 46 citations

A forward-looking monetary policy reaction function: continuity and change

1992 • 43 citations

How Farsighted Is the FOMC

1997 • 8 citations