A speech at the Middle Tennessee State University, Annual Economic Outlook Conference, Murfreesboro, Tenn., Sept. 29, 2006

Market News International (MNI), New York, Sept. 28, 2007

Marquette University, Milwaukee, Nov. 7, 2007

2008 Annual Economic Outlook Conference, Middle Tennessee State University, Murfreesboro, Tenn., Sept. 26, 2008

The Bank of Korea International Conference on Monetary Policy in an Environment of Low Inflation, Seoul, Korea, June 16, 2006

Presentation to the St. Louis Forum, St. Louis, Feb. 24, 2006

June 10, 2013. Presentation. "The U.S. Economy and Monetary Policy." 19th Conference of Montreal—Entering the Next Economy: New Realities, New Frontiers, Montreal, Canada.

February 24, 2012. "Comments on 'Housing, Monetary Policy, and the Recovery' by Michael Feroli, Ethan Harris, Amir Sufi, and Kenneth West." Given at the 2012 U.S. Monetary Policy Forum, Initiative on Global Markets, University of Chicago Booth School of Business.

Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed debt levels and payment to income ratios suggest the...

There exist sticky price models in which the output response to a government spending change can be large if the central bank is nonresponsive to inflation. According to this “expected inflation channel," government spending drives up expected inflation, which in turn, reduces the real...