October 10, 2013. Opening Remarks. Given at the 38th Annual Federal Reserve Bank of St. Louis Fall Conference, Federal Reserve Bank of St. Louis.

October 2, 2013. Opening Remarks. Given at the Federal Reserve/CSBS Community Banking Research Conference, Community Banking in the 21st Century, St. Louis

Delivered at The Institute of Regulation and Risk North Asia, The Grand Ballroom, Conrad Hotel, Pacific Place, Hong Kong. This speech was also delivered at The Institute of Regulation and Risk North Asia, The InterContinental Hotel, Tokyo Bay, Japan, June 14, 2010.

We document that monetary policy inertia can help alleviate problems of indeterminacy and non-existence of stationary equilibrium observed for some commonly-studied monetary policy rules. We also find that inertia promotes learnability of equilibrium. The context is a simple, forward-looking...

We study how determinacy and learnability of global rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework. The two blocks may be viewed as the U.S. and Europe, or as regions within the euro zone. We seek to understand how monetary...