Papers by Olivier Coibion

Published Classic American Economic Journal: Macroeconomics Published Apr 2012

Are the Effects of Monetary Policy Shocks Big or Small?

This 2012 American Economic Journal: Macroeconomics paper by Olivier Coibion asks why standard recursive VARs and the Romer-Romer (2004) narrative approach produce such different estimates of the real …

Monetary Policy Shocks Narrative Identification

Published Econometrica Online 1 Jan 2025

Tell Me Something I Don't Already Know: Learning in Low- and High-Inflation Settings

Michael Weber · Bernardo Candia · Hassan Afrouzi · Tiziano Ropele · Rodrigo Lluberas · Serafin Frache · Brent Meyer · Saten Kumar · Yuriy Gorodnichenko · Dimitris Georgarakos · Olivier Coibion · Geoff Kenny · Jorge Ponce

This paper uses randomized control trials (RCTs) applied over time in multiple countries to study whether the economic environment — specifically the level of inflation — affects how agents learn from …

Inflation Dynamics Central Bank Communication Free Read ↗

Published Classic Review of Economic Studies Published Oct 2012

The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?

Olivier Coibion · Yuriy Gorodnichenko · Johannes Wieland

This 2012 Review of Economic Studies paper by Olivier Coibion, Yuriy Gorodnichenko, and Johannes Wieland asks what rate of steady-state (trend) inflation maximizes welfare in a New Keynesian DSGE …

Effective Lower Bound Inflation Targeting

Published Classic American Economic Journal: Macroeconomics Published Oct 2012

Why Are Target Interest Rate Changes so Persistent?

Olivier Coibion · Yuriy Gorodnichenko

This 2012 American Economic Journal: Macroeconomics paper by Olivier Coibion and Yuriy Gorodnichenko adjudicates between two observationally similar explanations for the federal funds rate target's …

Monetary Policy Rules Monetary Policy Shocks