Remarks by Charles L. Evans, President and Chief Executive Officer,Federal Reserve Bank of Chicago Czech National Bank Prague, Czech Republic

We study the effect of different types of macroeconomic impulses on the nominal yield curve. We employ two distinct approaches to identifying economic shocks in VARs. Our first approach uses a structural VAR due to Galí (1992). Our second strategy identifies fundamental impulses from...

A speech delivered on January 15, 2014, at the Corridor Economic Forecast Luncheon in Coralville, IA.

Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Council on Foreign Relations New York, NY

Remarks by Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Allied Social Science Associations San Franciso, CA

We present a model embodying moderate amounts of nominal rigidities which accounts for the observed inertia in inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these...