We introduce liquidity frictions into an otherwise standard DSGE model with nominal and real rigidities, explicitly incorporating the zero bound on the short-term nominal interest rate. Within this framework, we ask: Can a shock to the liquidity of private paper lead to a collapse in short-term...

Introductory Remarks for the Panel Discussion Sponsored by the Heller-Hurwicz Economics Institute and the Economic Club of Minnesota at the University of Minnesota, Minneapolis.

Remarks at 2010 CFA Institute Fixed Income Management Conference, Newport Beach, California.

Remarks at Cornell University, Ithaca, New York.

Remarks at the University of Rochester, Rochester, New York.

Remarks at the Third Annual Connecticut Bank and Trust Company Economic Outlook Breakfast, Hartford, Connecticut.

Remarks at the National Association for Business Economics Policy Conference, Arlington, Virginia

Joint written testimony before the Congressional Oversight Panel, Washington, D.C.

Remarks at the Vanderbilt University Conference on Financial Markets and Financial Policy Honoring Dewey Daane, Nashville, Tennessee.

Remarks at the Foreign Policy Association Corporate Dinner, New York City