We study a theory in which households borrow during the first half of a 241-period life cycle as part of a DSGE. Households confront a persistent regime-switching process on aggregate labor productivity growth. When the economy switches to the high growth regime, there is more borrowing based on...

In this paper, James Bullard reviews the recent evidence on the long-run neutrality and superneutrality of money. Bullard restricts his attention primarily to several papers assessing the time-series evidence using techniques due to Fisher and Seater (1993) and King and Watson (1997).

We study a stylized theory of the volatility reduction in the U.S. after 1984---the Great Moderation---which attributes part of the stabilization to less volatile shocks and another part to more difficult inference on the part of Bayesian households attempting to learn the latent state of the...

November 14, 2014. Presentation. "Does Low Inflation Justify a Zero Policy Rate?" St. Louis Regional Chamber Financial Forum, St. Louis.

June 29, 2012. Presentation. "U.S. Monetary Policy: Still Appropriate." Presented at Dialogue with the Fed, Little Rock, Arkansas.

July 10, 2012. Speech. "The Global Economy and the European Sovereign Debt Crisis." Delivered at the OMFIF Golden Series Lecture, London. Related news articles.

September 20, 2013. Presentation. "Four Questions for Current Monetary Policy." New York Association for Business Economics, New York, N.Y.