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Thomas Laubach

Director, Division of Monetary Affairs · Board of Governors of the Federal Reserve System

Monetary economist who worked at the Federal Reserve Board and was a professor at Goethe University Frankfurt; he directed the Board's Division of Monetary Affairs from January 2015 until his death in September 2020. PhD from Princeton (1997); co-author of the Laubach-Williams natural-rate-of-interest model.

2 papers tracked 2 classics ⌁ Follow this author

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Published Classic Journal of Monetary Economics Published Mar 2004

Implications of habit formation for optimal monetary policy

Jeffery D. Amato · Thomas Laubach

Adding habit formation in consumption to an optimising sticky-price model changes both the IS curve and the Phillips curve, makes the variance of output itself -- not only the output gap -- …

Monetary Policy Optimal Policy Monetary Policy Rules New Keynesian Household Consumption Natural Rate of Interest Inflation Dynamics Free Read ↗

Published Classic European Economic Review Published Oct 2003

Rule-of-thumb behaviour and monetary policy

Jeffery D. Amato · Thomas Laubach

Letting a fraction of consumers and price setters replace optimisation with a backward-looking rule of thumb adds endogenous persistence to output and inflation, changes how shocks travel through a …

Monetary Policy Monetary Policy Rules Optimal Policy New Keynesian Nominal Rigidities Inflation Dynamics Household Consumption Free Read ↗