Òscar Jordà

Òscar Jordà · Sharon Kozicki

This 2011 International Economic Review paper by Óscar Jordà and Sharon Kozicki proposes "projection minimum distance" (PMD), a two-step semiparametric estimator for macroeconomic models whose …

Òscar Jordà

This 2005 American Economic Review paper by Òscar Jordà introduces "local projections" (LP) — a way to estimate impulse responses directly from a sequence of single-horizon regressions of the future …

Òscar Jordà · Alan M. Taylor

This 2025 Journal of Economic Literature survey takes stock of local projections (LP) as a general framework for estimating impulse responses, arguing that LPs "help bridge the divide between current …

Maximilian Grimm · Òscar Jordà · Moritz Schularick · Alan M. Taylor

This paper provides the first long-run causal evidence that a persistently loose stance of monetary policy — defined as extended periods of low interest rates relative to the neutral rate — …

Selva Demiralp · Òscar Jordà

Demiralp and Jorda argue that since the Fed began publicly announcing its Federal funds rate target in 1994, it has manipulated short-term rates through a Pavlovian "announcement effect" -- moral …