Athanasios Orphanides

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Professor of the Practice of Global Economics and Management

100 Main Street

E62-416

Cambridge, MA 02142

United States

http://mitsloan.mit.edu/faculty/detail.php?in_spseqno=54058

Asia School of Business

Co-chair, Board of Governors

Jalan Kuching, Kuala Lumpur, Wilayah Persekutuan K

Kuala Lumpur, MA

Malaysia

  • Massachusetts Institute of Technology (MIT) - Sloan School of Management

  • Asia School of Business

SCHOLARLY PAPERS

69

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20,288

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1,296

CROSSREF CITATIONS

1,542

Scholarly Papers (69)

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1.

The Euro Area Crisis: Politics Over Economics

Downloads 2,027 (14,749)
Citation 15

The Euro Area Crisis: Politics Over Economics

MIT Sloan Research Paper No. 5091-14
Number of pages: 35 Posted: 11 Jun 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 2,023 (14,520)
Citation 1

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Currency union, euro, European integration, sovereign debt, Deauville, Cyprus

The Euro Area Crisis: Politics Over Economics

CEPR Discussion Paper No. DP10033
Number of pages: 37 Posted: 25 Sep 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 4 (1,133,709)
Citation 4
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currency union, Cyprus, Deauville, euro, European integration, sovereign debt

2.

The Euro Area Crisis Five Years After the Original Sin

MIT Sloan Research Paper No. 5147-15
Number of pages: 33 Posted: 21 Oct 2015
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,627 (20,776)
Citation 1

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IMF lending, Greece, Germany, European Union, euro, austerity, debt sustainability, systemic exemption, contagion

3.

Earnings Forecasts and the Predictability of Stock Returns:Evidence from Trading the S&P

Number of pages: 25 Posted: 14 Apr 1997
Athanasios Orphanides, Joel Lander and Martha Douvogiannis
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Government of the United States of America - Division of Research and Statistics and affiliation not provided to SSRN
Downloads 1,393 (26,280)
Citation 4

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4.

The Macroeconomic Consequences of Terrorism

Number of pages: 45 Posted: 07 Apr 2004
S. Brock Blomberg, Gregory D. Hess and Athanasios Orphanides
Ursinus College, CESifo (Center for Economic Studies and Ifo Institute for Economic Research) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 996 (42,646)
Citation 8

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growth, conflict, terrorism

5.

What Happened in Cyprus? The Economic Consequences of the Last Communist Government in Europe

MIT Sloan Research Paper No. 5089-14
Number of pages: 51 Posted: 29 May 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 891 (49,790)
Citation 16

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Cyprus, euro area, crisis, sovereign debt, populism

6.

Monetary Policy in Deflation: The Liquidity Trap in History and Practice

Number of pages: 36 Posted: 06 Mar 2004
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 852 (52,987)
Citation 12

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Zero interest-rate bound, liquidity trap, great depression, Japan

7.

The Bond Market Term Premium: What is it, and How Can We Measure it?

BIS Quarterly Review, June 2007
Number of pages: 14 Posted: 24 Jun 2012
Don H. Kim and Athanasios Orphanides
Board of Governors of the Federal Reserve System and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 801 (57,505)
Citation 10

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8.

Taylor Rules

FEDS Working Paper No. 2007-18
Number of pages: 15 Posted: 12 Jul 2007
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 640 (77,088)
Citation 15

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monetary policy, simple rules

9.

Monetary Policy When the Nominal Short-Term Interest Rate is Zero

Downloads 600 (83,499)
Citation 46

Monetary Policy When the Nominal Short-Term Interest Rate is Zero

Number of pages: 84 Posted: 07 Dec 2000
James A. Clouse, Dale W. Henderson, Athanasios Orphanides, David H. Small and Peter A. Tinsley
Board of Governors of the Federal Reserve System, Federal Reserve Board, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Board of Governors of the Federal Reserve System and George Washington University
Downloads 600 (82,470)
Citation 46

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monetary policy, liquidity trap, Federal Reserve Act, open market operations, discount window lending

10.

Term Structure Estimation with Survey Data on Interest Rate Forecasts

Downloads 558 (91,577)
Citation 162

Term Structure Estimation with Survey Data on Interest Rate Forecasts

FEDS Working Paper No. 2005-48, AFA 2007 Chicago Meetings Paper
Number of pages: 42 Posted: 20 Mar 2006
Don H. Kim and Athanasios Orphanides
Board of Governors of the Federal Reserve System and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 533 (95,874)
Citation 73

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Dynamic term structure models, survey data, interest rate forecasts, term premia, expectations hypothesis

Term Structure Estimation with Survey Data on Interest Rate Forecasts

CEPR Discussion Paper No. 5341
Number of pages: 45 Posted: 05 Jan 2006
Don H. Kim and Athanasios Orphanides
Board of Governors of the Federal Reserve System and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 25 (921,488)
Citation 24
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Dynamic term structure models, survey data, interest rate forecasts, term premia, expectations hypothesis

11.

Central Bank Policies and the Debt Trap

MIT Sloan Research Paper No. 5187-17
Number of pages: 26 Posted: 07 Feb 2017
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 554 (92,427)
Citation 5

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Quantitative easing, debt sustainability, financial repression, Federal Reserve, Bank of Japan , ECB, Italy, Japan, Germany, United States

12.

Activist Stabilization Policy and Inflation: The Taylor Rule in the 1970s

Number of pages: 30 Posted: 07 Apr 2003
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 464 (114,734)
Citation 3

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Great Inflation, Taylor rule, output gap, real-time data

13.

Fear of Liftoff: Uncertainty, Rules, and Discretion in Monetary Policy Normalization

Downloads 453 (118,037)
Citation 9

Fear of Liftoff: Uncertainty, Rules, and Discretion in Monetary Policy Normalization

Review, Vol. 97, Issue 3, pp. 173-96, 2015
Number of pages: 24 Posted: 06 Oct 2015 Last Revised: 24 Jul 2019
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 281 (198,432)
Citation 6

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Fear of Liftoff: Uncertainty, Rules and Discretion in Monetary Policy Normalization

MIT Sloan Research Paper No. 5142-15
Number of pages: 34 Posted: 27 Aug 2015
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 172 (316,766)

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Federal Reserve, liftoff, discretion, policy rules, policy normalization

Fear of Liftoff: Uncertainty, Rules and Discretion in Monetary Policy Normalization

CEPR Discussion Paper No. DP10818
Number of pages: 35 Posted: 16 Sep 2015
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
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discretion, Federal Reserve, liftoff, policy normalization, policy rules

14.

ECB Monetary Policy and Euro Area Governance: Collateral Eligibility Criteria for Sovereign Debt

MIT Sloan Research Paper No. 5258-17
Number of pages: 17 Posted: 26 Nov 2017
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 414 (131,519)
Citation 6

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ECB, collateral eligibility, sovereign debt, euro crisis, credit ratings, cliff effect

15.

The Reliability of Output Gap Estimates in Real Time

Number of pages: 45 Posted: 09 Aug 1999
Athanasios Orphanides and Simon van Norden
Massachusetts Institute of Technology (MIT) - Sloan School of Management and HEC Montreal - Department of Finance
Downloads 380 (144,412)
Citation 16

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16.

Historical Monetary Policy Analysis and the Taylor Rule

Number of pages: 50 Posted: 01 Oct 2003
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 347 (160,223)
Citation 86

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Federal Reserve, policy rule, real-time data

17.

Imperfect Knowledge, Inflation Expectations, and Monetary Policy

Downloads 345 (160,723)
Citation 108

Imperfect Knowledge, Inflation Expectations, and Monetary Policy

Number of pages: 43 Posted: 14 Jul 2002
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 262 (213,017)
Citation 10

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Inflation targeting, policy rules, rational expectations, learning, inflation persistence

Imperfect Knowledge, Inflation Expectations, and Monetary Policy

NBER Working Paper No. w9884
Number of pages: 41 Posted: 05 Aug 2003 Last Revised: 06 Jul 2022
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 83 (549,473)
Citation 10

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18.

The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound

Downloads 341 (162,773)
Citation 9

The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound

MIT Sloan Research Paper No. 5197-17
Number of pages: 44 Posted: 11 May 2017
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 299 (185,925)
Citation 10

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quantitative easing, zero lower bound, euro crisis, ECB, loss sharing, collateral eligibility, sovereign debt, safe assets, redenomination risk, credit risk

The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound

CEPR Discussion Paper No. DP12039
Number of pages: 46 Posted: 15 May 2017
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 42 (776,953)
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collateral eligibility, credit risk., ECB, Euro crisis, loss sharing, Quantitative easing, redenomination risk, safe assets, Sovereign debt, zero lower bound

19.

Monetary Policy Rules and the Great Inflation

Number of pages: 12 Posted: 11 Feb 2002
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 325 (171,408)
Citation 59

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Monetary policy rules, inflation, unemployment, Greenbook forecasts

20.

The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time

Downloads 312 (178,875)
Citation 280

The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time

Number of pages: 30 Posted: 27 Jan 2005
Simon van Norden and Athanasios Orphanides
HEC Montreal - Department of Finance and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 287 (194,169)
Citation 11

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Phillips curve, output gap, inflation forecasts, real-time data

The Reliability of Inflation Forecasts Based on Output Gap Estimates in Real Time

Number of pages: 32 Posted: 22 Apr 2005
Athanasios Orphanides and Simon van Norden
Massachusetts Institute of Technology (MIT) - Sloan School of Management and HEC Montreal - Department of Finance
Downloads 25 (921,488)
Citation 98
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Phillips curve, output gap, inflation forecasts, real-timing data

21.

Fiscal Implications of Central Bank Balance Sheet Policies

Downloads 304 (183,833)
Citation 6

Fiscal Implications of Central Bank Balance Sheet Policies

MIT Sloan Research Paper No. 5168-16
Number of pages: 31 Posted: 11 Jul 2016 Last Revised: 12 Jul 2016
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 304 (182,617)
Citation 7

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Quantitative easing, lender of last resort, monetary financing, loss sharing, central bank independence, central bank accountability, central bank governance, rules vs discretion

Fiscal Implications of Central Bank Balance Sheet Policies

CEPR Discussion Paper No. DP11383
Number of pages: 33 Posted: 11 Jul 2016
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
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central bank accountability, central bank governance, central bank independence, lender of last resort, loss sharing, monetary financing, Quantitative easing, rules vs discretion.

22.

Monetary Policy Rules, Macroeconomic Stability and Inflation: A View from the Trenches

Number of pages: 35 Posted: 10 Jan 2002
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 287 (195,329)
Citation 43

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monetary policy rules, real-time data, Greenbook forecasts, stagflation

23.

War and Democracy

Downloads 287 (195,329)

War and Democracy

CESifo Working Paper Series No. 201
Number of pages: 39 Posted: 18 Jun 2001
Gregory D. Hess and Athanasios Orphanides
CESifo (Center for Economic Studies and Ifo Institute for Economic Research) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 287 (194,169)
Citation 1

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War, Democracy, Kant Hypothesis

War and Democracy

Journal of Political Economy, Vol. 109, August 2001
Posted: 16 Feb 2002
Gregory D. Hess and Athanasios Orphanides
CESifo (Center for Economic Studies and Ifo Institute for Economic Research) and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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24.

The Term Structure and Inflation Uncertainty

Downloads 274 (204,779)
Citation 14

The Term Structure and Inflation Uncertainty

MIT Sloan Research Paper No. 5182-16
Number of pages: 39 Posted: 21 Dec 2016
Tomas Breach, Stefania D'Amico and Athanasios Orphanides
Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 180 (304,174)
Citation 11

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Quadratic-Gaussian Term Structure Models, in‡Ation Risk Premium, Survey Forecasts, Hidden Factors

The Term Structure and Inflation Uncertainty

FRB of Chicago Working Paper No. WP-2016-22
Number of pages: 46 Posted: 16 Dec 2016
Tomas Breach, Stefania D'Amico and Athanasios Orphanides
Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 94 (507,215)

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Quadratic-Gaussian Term Structure Models, Inflation Risk Premium, Survey Forecasts, Hidden Factors

The Term Structure and Inflation Uncertainty

CEPR Discussion Paper No. DP11730
Number of pages: 41 Posted: 03 Jan 2017
Tomas Breach, Stefania D'Amico and Athanasios Orphanides
Federal Reserve Bank of Chicago, Federal Reserve Bank of Chicago and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Hidden Factors, Inflation Risk Premium, Quadratic-Gaussian Term Structure Models, Survey Forecasts

25.

Independent Central Banks and the Interplay between Monetary and Fiscal Policy

MIT Sloan Research Paper No. 5257-17
Number of pages: 24 Posted: 26 Nov 2017
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 273 (205,509)
Citation 3

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Central bank independence, accountability, legitimacy, discretion, moral hazard, Bank of Japan, ECB, Italy, Japan, Germany

26.

Is Monetary Policy Overburdened?

Downloads 247 (227,017)
Citation 1

Is Monetary Policy Overburdened?

BIS Working Paper No. 435
Number of pages: 39 Posted: 27 Feb 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 185 (296,612)

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Global financial crisis, monetary policy, real-time output gap, fiscal dominance, financial stability, central bank independence

Is Monetary Policy Overburdened?

FRB of Boston Public Policy Discussion Paper No. 13-8
Number of pages: 31 Posted: 22 Oct 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 62 (649,216)
Citation 2

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27.

Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates are Bounded at Zero

Downloads 228 (245,297)
Citation 56

Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates are Bounded at Zero

Number of pages: 39 Posted: 06 Aug 2003
Günter Coenen, Athanasios Orphanides and Volker Wieland
European Central Bank (ECB), Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Frankfurt
Downloads 205 (270,189)

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Inflation targeting, price stability, monetary policy rules, liquidity trap

Price Stability and Monetary Policy Effectiveness When Nominal Interest Rates are Bounded at Zero

Number of pages: 29 Posted: 24 Jun 2003
Günter Coenen, Athanasios Orphanides and Volker Wieland
European Central Bank (ECB), Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Frankfurt
Downloads 23 (941,285)
Citation 13
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Inflation targeting, price stability, monetary policy rules, liquidity trap

28.

The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning, and Expectations

Downloads 218 (255,952)
Citation 80

The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning, and Expectations

Number of pages: 46 Posted: 28 Jun 2004
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 123 (417,018)
Citation 14

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Monetary policy, stagflation, rational expectations, learning

The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning, and Expectations

FRB of San Francisco Working Paper No. 2003-24
Number of pages: 30 Posted: 05 May 2004
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 74 (588,795)
Citation 9

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The Decline of Activist Stabilization Policy: Natural Rate Misperceptions, Learning and Expectations

Number of pages: 36 Posted: 13 May 2005
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 21 (961,601)
Citation 7
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Monetary policy, stagflation, rational expectations, learning

29.

Monetary Policy Evaluation with Noisy Information

Number of pages: 36 Posted: 06 May 1999
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 218 (255,952)
Citation 27

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30.

Robust Monetary Policy Rules with Unknown Natural Rates

Number of pages: 67 Posted: 27 Jun 2003
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 197 (280,922)
Citation 70

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Inflation targeting, policy rules, natural rate of unemployment, natural rate of interest, misperceptions

31.

European Headwind: ECB Policy and Fed Normalization

MIT Sloan Research Paper No. 5119-14
Number of pages: 23 Posted: 12 Nov 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 194 (284,788)
Citation 2

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ECB, Federal Reserve, central bank mandate, price stability, zero bound, monetary pillar, balance sheet, quantitative easing, euro area crisis.

32.

Taming Inflation Scares

MIT Sloan Research Paper 6628-22
Number of pages: 14 Posted: 28 Mar 2022 Last Revised: 29 Mar 2022
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 181 (303,027)
Citation 2

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Inflation Scares, Inflation Expectations, Federal Reserve, Monetary Policy

33.

Inflation Uncertainty and Disagreement in Bond Risk Premia

FRB of Chicago Working Paper No. 2014-24
Number of pages: 35 Posted: 19 Dec 2014
Stefania D'Amico and Athanasios Orphanides
Federal Reserve Bank of Chicago and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 173 (317,012)
Citation 10

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Survey expectations, probabilistic forecasts, heterogeneity, inflation uncertainty, bond risk premia

34.

P* Revisited: Money-Based Inflation Forecasts with a Changing Equilibrium Velocity

Number of pages: 23 Posted: 04 Feb 1999
Athanasios Orphanides and Richard D. Porter
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of Chicago
Downloads 161 (335,541)
Citation 20

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35.

Optimal Discretion

Number of pages: 35 Posted: 12 Dec 1999
Yvan Lengwiler and Athanasios Orphanides
University of Basel - Faculty of Business and Economics (WWZ) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 157 (342,626)

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36.

Inflation Zone Targeting

Number of pages: 59 Posted: 02 Dec 2002
Athanasios Orphanides and Volker Wieland
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Frankfurt
Downloads 156 (344,530)
Citation 24

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Inflation Targeting, Price Stability, Optimal Monetary Policy

37.

Inflation Scares and Forecast-Based Monetary Policy

Downloads 155 (346,300)
Citation 52

Inflation Scares and Forecast-Based Monetary Policy

Number of pages: 38 Posted: 01 Jan 2004
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 127 (406,944)
Citation 3

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Inflation forecasts, policy rules, rational expectations, learning

Inflation Scares and Forecast-Based Monetary Policy

Number of pages: 42 Posted: 05 May 2005
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 28 (892,916)
Citation 4
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Inflation forecasts, policy rules, rational expectations, learning

38.

Inflation Targeting Under Imperfect Knowledge

Downloads 154 (348,220)
Citation 34

Inflation Targeting Under Imperfect Knowledge

FEDS Working Paper No. 2006-20, FRB of San Francisco Working Paper No. 2006-14
Number of pages: 48 Posted: 21 Jun 2006
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 135 (387,606)
Citation 20

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Learning, natural rate of interest, natural rate of unemployment, rational expectations, monetary policy rules, uncertainty, bond prices

Inflation Targeting Under Imperfect Knowledge

CEPR Discussion Paper No. 5664
Number of pages: 50 Posted: 28 Jul 2006
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 19 (982,670)
Citation 3
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Learning, natural rate of interest, natural rate of unemployment, rational expectations, monetary policy rules, uncertainty, bond prices

39.

Collateral Framework: Liquidity Premia and Multiple Equilibria

Downloads 152 (352,109)
Citation 3

Collateral Framework: Liquidity Premia and Multiple Equilibria

MIT Sloan Research Paper No. 6428-21
Number of pages: 34 Posted: 20 Apr 2021 Last Revised: 07 Aug 2021
Yvan Lengwiler and Athanasios Orphanides
University of Basel - Faculty of Business and Economics (WWZ) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 152 (352,365)

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Monetary policy, government finance, yields, liquidity premium, default premium, collateral, cliff effect, multiple equilibria

Collateral Framework: Liquidity Premia and Multiple Equilibria

CEPR Discussion Paper No. DP16047
Number of pages: 36 Posted: 14 May 2021
Yvan Lengwiler and Athanasios Orphanides
University of Basel - Faculty of Business and Economics (WWZ) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 0
Citation 3
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40.

The Fiscal Dimension of Monetary Policy and Central Bank Autonomy: Lessons from Two Crises

MIT Sloan Research Paper No. 6609-22
Number of pages: 16 Posted: 15 Mar 2022 Last Revised: 30 Mar 2022
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 149 (357,736)

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Fed, ECB, monetary policy, quantitative easing, collateral eligibility, fiscal interactions

41.

Imperfect Central Bank Communication - Information versus Distraction

IMF Working Paper No. 08/60
Number of pages: 33 Posted: 24 Mar 2008
Pär Österholm, Spencer Dale and Athanasios Orphanides
International Monetary Fund (IMF), Bank of England and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 147 (361,699)
Citation 3

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Central banks, Transparency

42.

Robust Monetary Policy With Imperfect Knowledge

Downloads 147 (361,699)
Citation 49

Robust Monetary Policy With Imperfect Knowledge

ECB Working Paper No. 764
Number of pages: 56 Posted: 28 Jun 2007
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 84 (545,341)

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Monetary policy, natural rate misperceptions, rational expectations, learning

Robust Monetary Policy with Imperfect Knowledge

FEDS Working Paper No. 2007-33, FRB of San Francisco Working Paper No. 2007-08
Number of pages: 48 Posted: 19 Aug 2007
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 63 (643,746)
Citation 32

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monetary policy, natural rate misperceptions, rational expectations, learning

43.

The Quest for Prosperity Without Inflation

Number of pages: 68 Posted: 10 Dec 2002
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 146 (363,754)
Citation 13

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Great Inflation, Arthur Burns, FOMC, Activist Monetary Policy, Taylor Rule, Prudent Policy Rule, Real-time Data, Potential Output, Full Employment

44.

Activist Stabilization Policy and Inflation: The Taylor Rule in the 1970s

Number of pages: 21 Posted: 10 Aug 2000
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 145
Citation 20

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45.

A Quantitative Exploration of the Opportunistic Approach to Disinflation

Board of Governors of the Federal Reserve System Finance and Econ. Disc. Series 97-36
Number of pages: 42 Posted: 10 Feb 1998
Athanasios Orphanides, David H. Small, Volker Wieland and David W. Wilcox
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Board of Governors of the Federal Reserve System, University of Frankfurt and Board of Governors of the Federal Reserve System
Downloads 144 (367,778)
Citation 15

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46.

Stress Tests as a Policy Tool: The European Experience During the Crisis

MIT Sloan Research Paper No. 5122-14
Number of pages: 15 Posted: 21 Nov 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 136 (384,493)
Citation 1

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Stress tests, euro area crisis, bank regulation, macroprudential

47.

The Reform of October 1979: How it Happened and Why

Downloads 134 (389,046)
Citation 23

The Reform of October 1979: How it Happened and Why

Number of pages: 95 Posted: 26 Jan 2005
David E. Lindsey, Athanasios Orphanides and Robert Rasche
Independent, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Michigan State University
Downloads 117 (433,244)
Citation 2

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Federal Reserve, FOMC, Paul Volcker, monetary reform, operating procedures

The Reform of October 1979: How it Happened and Why

Number of pages: 97 Posted: 13 May 2005
David E. Lindsey, Athanasios Orphanides and Robert Rasche
Independent, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Michigan State University
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Citation 12
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Federal reserve, FOMC, Paul Volcker, monetary reform, operating procedures

48.

The Road to Price Stability

FEDs Working Paper No. 2006-05
Number of pages: 11 Posted: 03 May 2006
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 129 (400,812)

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Price stability, monetary policy, Paul Volcker, Alan Greenspan.

49.

Monetary Policy with Imperfect Knowledge

FEDS Working Paper No. 2005-51, FRB of San Francisco Working Paper No. 2005-17
Number of pages: 13 Posted: 07 Dec 2005
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 110 (451,552)
Citation 23

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Natural rate of interest, natural rate of unemployment, rational expectations, learning, monetary policy rules, Taylor rule

50.

Are Rules and Boundaries Sufficient to Limit Harmful Central Bank Discretion? Lessons from Europe

MIT Sloan Research Paper No. 5114-14
Number of pages: 10 Posted: 27 Aug 2014
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 104 (470,185)
Citation 2

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Rules, discretion, central bank mandates, ECB, Central Bank of Cyprus, ELA

51.

Trust and Cohesion in Europe: Lessons from the Delian League

MIT Sloan Research Paper No. 5716-19
Number of pages: 9 Posted: 27 Mar 2019
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 100 (486,357)

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European Union, ECB, euro crisis, Delian League

52.

On the Non-Optimality of Supposedly 'Optimal' Monetary Policy

MIT Sloan Research Paper No. 5136-15
Number of pages: 11 Posted: 02 Aug 2015
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 86 (531,964)

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Inflation Targeting, Federal Reserve, ECB, discretion, policy rules, optimal policy

53.

Evolving Macroeconomic Perceptions and the Term Structure of Interest Rates

FEDS Working Paper No. 2010-01
Number of pages: 55 Posted: 05 Mar 2011
Min Wei and Athanasios Orphanides
Board of Governors of the Federal Reserve System and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 70 (598,940)
Citation 9

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Macro Term Structure Model, Recursive VAR, Survey Forecasts, Anticipated Utility

54.

The ECB's Instruments for Crises and Normal Times: Considerations for the Policy Strategy Review

MIT Sloan Research Paper No. 6233-20
Number of pages: 19 Posted: 18 Dec 2020
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 68 (608,209)
Citation 2

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European Union, ECB, Euro Crisis, Delian League

55.

Leverage as a State Variable for Employment, Inventory Accumulation, Andfixed Investment

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Leverage as a State Variable for Employment, Inventory Accumulation, Andfixed Investment

NBER Working Paper No. w4800
Number of pages: 36 Posted: 29 Dec 2003 Last Revised: 13 Feb 2022
Charles W. Calomiris, Athanasios Orphanides and Steven A. Sharpe
Columbia University - Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Board of Governors of the Federal Reserve System
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Leverage as a State Variable for Employment, Inventory Accumulation, and Fixed Investment

Posted: 20 Dec 1998
Charles W. Calomiris, Athanasios Orphanides and Steven A. Sharpe
Columbia University - Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Board of Governors of the Federal Reserve System

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56.

Monetary Policy Mistakes and the Evolution of Inflation Expectations

Downloads 40 (772,154)
Citation 14

Monetary Policy Mistakes and the Evolution of Inflation Expectations

NBER Working Paper No. w17080
Number of pages: 46 Posted: 23 May 2011 Last Revised: 04 Mar 2023
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
Downloads 34 (840,276)
Citation 10

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Monetary Policy Mistakes and the Evolution of Inflation Expectations

CEPR Discussion Paper No. DP7892
Number of pages: 48 Posted: 19 Jul 2010
Athanasios Orphanides and John C. Williams
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Federal Reserve Bank of New York
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Citation 2
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Great Inflation, model uncertainty, naturalrate of unemployment, rational expectations, robust control

57.

A Quantitative Exploration of the Opportunistic Approach to Disinflation

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Citation 5

A Quantitative Exploration of the Opportunistic Approach to Disinflation

Number of pages: 29 Posted: 20 Nov 2003
Yunus Aksoy, Athanasios Orphanides, David H. Small, David W. Wilcox and Volker Wieland
Birkbeck University of London, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and University of Frankfurt
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Citation 5
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Inflation targeting, monetary policy, interest rates, policy rules, disinflation

A Quantitative Exploration of the Opportunistic Approach to Disinflation

CFS Working Paper 2005/19
Posted: 30 Aug 2005
Yunus Aksoy, Athanasios Orphanides, David H. Small, Volker Wieland and David W. Wilcox
Birkbeck University of London, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Board of Governors of the Federal Reserve System, University of Frankfurt and Board of Governors of the Federal Reserve System

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Inflation targeting, monetary policy, interest rates, policy rules, disinflation

58.

Monetary Policy Lessons from the Crisis

CEPR Discussion Paper No. DP7891
Number of pages: 44 Posted: 19 Jul 2010
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 1
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activist stabilisation policy, asset prices, ECB., financial stability, Great financial crisis, macro-prudential supervision, real-time output gap, robust simple rules, stability-oriented monetary policy

59.

Complexity and Monetary Policy

CEPR Discussion Paper No. DP9107
Number of pages: 44 Posted: 28 Sep 2012
Athanasios Orphanides and Volker Wieland
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Frankfurt
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Citation 10
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complexity, ECB, Financial crisis, model uncertainty, monetary policy, robust simple rules

60.

Economic Projections and Rules-of-Thumb for Monetary Policy

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Economic Projections and Rules-of-Thumb for Monetary Policy

CEPR Discussion Paper No. DP6748
Number of pages: 34 Posted: 10 Jun 2008
Athanasios Orphanides and Volker Wieland
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Frankfurt
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Citation 7
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FOMC, forecasts, monetary policy, policy rules

Economic Projections and Rules-of-Thumb for Monetary Policy

CFS Working Paper No. 2008/16
Posted: 03 Jun 2008
Athanasios Orphanides and Volker Wieland
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Frankfurt

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Monetary Policy, Forecasts, FOMC, Policy Rules

61.

Fiscal and Monetary Policy Interactions in a Low Interest Rate World

CEPR Discussion Paper No. DP16411
Number of pages: 51 Posted: 22 Sep 2021
Boris Hofmann, Marco J. Lombardi, Benoît Mojon and Athanasios Orphanides
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Massachusetts Institute of Technology (MIT) - Sloan School of Management
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Citation 1
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Debt deflation, Fiscal policy, perpetual learning, Quantitative easing, zero lower bound

62.

Errors in the Measurement of the Output Gap and the Design of Monetary Policy

Posted: 12 Dec 1999
Athanasios Orphanides, Richard D. Porter, David Reifschneider, Robert J. Tetlow and Frederico Finan
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Federal Reserve Bank of Chicago, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and affiliation not provided to SSRN

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63.

Optimal Reform Postponement

Federal Reserve Working Paper No. 94-25
Posted: 10 Sep 1999
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management

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64.

Estimating the Interest Rate Sensitivity of Liquid Retail Deposit Values

Posted: 20 Dec 1998
James M. O'Brien, Athanasios Orphanides and David H. Small
Board of Governors of the Federal Reserve System - Trading Risk Analysis Section, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Board of Governors of the Federal Reserve System

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65.

Compensation Incentives and Risk Taking Behavior: Evidence from Mutual Funds

Posted: 21 Apr 1998
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management

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66.

The Opportunistic Approach to Disinflation

Posted: 16 Apr 1998
Athanasios Orphanides and David W. Wilcox
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Board of Governors of the Federal Reserve System

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67.

Monetary Policy Rules Based on Real-Time Data

Finance and Economics Discussion Series (98-3)
Posted: 31 Mar 1998
Athanasios Orphanides
Massachusetts Institute of Technology (MIT) - Sloan School of Management

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68.

Inflation, Volatility and Growth

Posted: 09 Sep 1996
Ruth Judson and Athanasios Orphanides
Board of Governors of the Federal Reserve System and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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69.

Taxation and Intergenerational Transfers with Family Size Heterogeneity: Do Parents with More Children Prefer Higher Taxes?

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Taxation and Intergenerational Transfers with Family Size Heterogeneity: Do Parents with More Children Prefer Higher Taxes?

JOURNAL OF MONEY, CREDIT, AND BANKING, Vol. 28, No. 2, May 1996
Posted: 11 Sep 1996
Gregory D. Hess and Athanasios Orphanides
CESifo (Center for Economic Studies and Ifo Institute for Economic Research) and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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Taxation and Intergenerational Transfers with Family Size Heterogeneity: Do Parents with More Children Prefer Higher Taxes?

Posted: 03 Mar 1995
Gregory D. Hess and Athanasios Orphanides
CESifo (Center for Economic Studies and Ifo Institute for Economic Research) and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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