Francisco J. Ruge-Murcia
Names
first:
Francisco
middle:
J.
last:
Ruge-Murcia
Contact
email:
[email address hidden, enable JavaScript to see it]
homepage:
https://sites.google.com/site/frugemurcia/
postal address:
McGill University
Department of Economics
Leacock Building, Room 443
855 Sherbrooke Street West
Montreal, Quebec, H3A 2T7
Affiliations
McGill University
→ Department of Economics (weight: 90%)
Centre Interuniversitaire de Recherche en Économie Quantitative (CIREQ) (weight: 10%)
Research profile
author of:
Habit Formation and the Persistence of Monetary Shocks by Hafedh Bouakez Emanuela Cardia Francisco Ruge-Murcia
Non-Linear Monetary Policy Rules: Some New Evidence for the US by Dolado, Juan J. María-Dolores, Ramón Ruge-Murcia, Francisco J.
A Prudent Central Banker by RUGE-MURCIA, Francisco J.
Some Implications of the Zero Lower Bound on Interest Rates for the Term Structure and Monetary Policy by RUGE-MURCIA, Francisco J.
Does the Barro-Gordon Model Explain the Behavior of US Inflation? a Reexamination of the Empirical Evidence by RUGE-MURCIA, Francisco J.
Methods to Estimate Dynamic Stochastic General Equilibrium Models by RUGE-MURCIA, Francisco J.
Nonlinear Monetary Policy Rules: Some New Evidence for the U.S. by DOLADO, J. J. MARIA-DOLORES, R. RUGE-MURCIA, Francisco J.
Heterodox Inflation Stabilization in Argentina, Brazil, and Israel. A Historical Review and Some Stylized Facts by RUGE-MURCIA, Francisco J.
Explaining the Persistence of Commodity Prices by NG, Serena RUGE-MURCIA, Francisco J.
Distortionary Taxation and Labor Supply: Evidence from Canada. by CARDIA, Emanuela KOZHAYA, Norma RUGE-MURCIA, Francisco J.
Explaining the Transition Between Exchange Rate Regimes by MASSON, Paul RUGE-MURCIA, Francisco J.
Government Expenditure and the Dynamics of High Inflation. by Ruge-Murcia, F. J.
Analysis of Exchange-Rate Target Zones Using a Limited-Dependent Rational-Expectations Model with Jumps. by Pesaran, M. Hashem Ruge-Murcia, Francisco J.
Uncovering financial markets' beliefs about inflation targets by Francisco J. Ruge-Murcia
Explaining the Persistence of Commodity Prices by Serena Ng Francisco J. Ruge-Murcia
The effects of learning and signaling on money demand: With an application to heterodox inflation stabilization programs by Francisco J. Ruge-Murcia
Credibility and Changes in Policy Regime. by Ruge-Murcia, Francisco J.
The inflation bias when the central bank targets the natural rate of unemployment by Ruge-Murcia, Francisco J.
Limited-dependent rational expectations models with stochastic thresholds by Hashem Pesaran, M. Ruge-Murcia, Francisco J.
The Inflation Bias When the Central Bank Targets, the Natural Rate of Unemployment by RUGE-MURCIA, Francisco J.
Distortionary Taxation and Labor Supply. by Cardia, Emanuela Kozhaya, Norma Ruge-Murcia, Francisco J.
Does the Barro-Gordon model explain the behavior of US inflation? A reexamination of the empirical evidence by Ruge-Murcia, Francisco J.
Habit Formation and the Persistence of Monetary Shocks by BOUAKEZ, Hafedh CARDIA, Emanuela RUGE-MURCIA, Francisco J.
Credibility and Signaling in Disinflation- a Cross Country Examination by RUGE-MURCIA, Francisco J.
Explaining the Transition Between Exchange Rate Regimes by MASSON, Paul RUGE-MURCIA, Francisco J.
Inflation Targeting under Asymmetric Preferences. by Ruge-Murcia, Francisco J.
Government expenditure and the dynamics of high inflation by Ruge-Murcia, Francisco J.
Uncovering Financial Markets Beliefs About Inflation Targets by RUGE-MURCIA, Francisco J.
Nonlinear monetary policy rules: some new evidence for the US by Ruge Murcia, F. J. Ramón, Maria Dolores Dolado, Juan José
Methods to Estimate Dynamic Stochastic General Equilibrium Models by Francisco J. Ruge-Murcia
Limited-dependent rational expectations models with jumps by Francisco J. Ruge-Murcia M. Hashem Pesaran
Inflation Targeting Under Asymmetric Preferences. by Ruge-Murcia, F. J.
Nonlinear Monetary Policy Rules: Some New Evidence for the U.S. by DOLADO, J. J. MARIA-DOLORES, R. RUGE-MURCIA, Francisco J.
Uncovering Financial Markets Beliefs About Inflation Targets. by Ruge-Murcia, F. J.
Inflation Targeting Under Asymmetric Preferences by RUGE-MURCIA, Francisco . J.
Explaining the Persistence of Commodity Prices by Serena Ng Francisco Ruge-Murcia
A Discrete-Time Version of Target Zone Models with Jumps. by Pesaran, M. H. Ruge-Murcia, F. J.
A Prudent Central Banker. by Ruge-Murcia, F. J.
Government Expenditure and the Dynamics of High Inflation. by Ruge-Murcia, F. J.
A Discrete-Time Version of Target Zone Models with Jumps. by Pesaran, M. H. Ruge-Murcia, F. J.
A Discrete-Time Version of Target Zone Models with Jumps. by Pesaran, H. M. Ruge-Murcia, F. J.
Habit formation and the persistence of monetary shocks by Bouakez, Hafedh Cardia, Emanuela Ruge-Murcia, Francisco J.
The Transmission of Monetary Policy in a Multi-Sector Economy by BOUAKEZ, Hafed CARDIA Emanuela RUGE-MURCIA, Francisco
The Dynamic (In)efficiency of Monetary Policy by Committee by RIBONI, Alessandro RUGE-MURCIA, Francisco
Inflation Targeting Under Asymmetric Preferences by Francisco Javier Ruge-Murcia
The expectations hypothesis of the term structure when interest rates are close to zero by Ruge-Murcia, Francisco J.
The Dynamic (In)efficiency of Monetary Policy by Committee by Alessandro Riboni Francisco Ruge-Murcia
Inflation Targeting Under Asymmetric Preferences by Francisco J. Ruge-Murcia
Methods to estimate dynamic stochastic general equilibrium models by Ruge-Murcia, Francisco J.
Preference heterogeneity in monetary policy committees by Alessandro Riboni Francisco Ruge-Murcia
How Much Inflation is Necessary to Grease the Wheels? by Kim, Jinill Ruge-Murcia, Francisco J.
Preference Heterogeneity in Monetary Policy Committees by RIBONI, Alessandro RUGE-MURCIA, Francisco J.
Preference Heterogeneity in Monetary Policy Committees by Alessandro Riboni Francisco J. Ruge-Murcia
A Prudent Central Banker by Francisco J. Ruge-Murciá
Durable Goods, Inter-Sectoral Linkages and Monetary Policy by Hafedh Bouakez Emanuela Cardia Francisco J. Ruge-Murcia
The Dynamic (In)Efficiency of Monetary Policy by Committee by ALESSANDRO RIBONI FRANCISCO J. RUGE-MURCIA
Monetary Policy by Committee:Consensus, Chairman Dominance or Simple Majority? by RIBONI, Alessandro RUGE-MURCIA, Francisco J.
Sectoral Price Rigidity and Aggregate Dynamics by Hafedh Bouakez Emanuela Cardia Francisco J. Ruge-Murcia
How much inflation is necessary to grease the wheels? by Kim, Jinill Ruge-Murcia, Francisco J.
Nonlinear Monetary Policy Rules: Some New Evidence for the U.S. by Dolado Juan Pedrero Ramón María-Dolores Ruge-Murcia Francisco J.
How Much Inflation is Necessary to Grease the Wheels? by KIM, Jinill RUGE-MURCIA, Francisco J.
Sectoral Price Rigidity and Aggregate Dynamics by BOUAKEZ, Hafedh CARDIA, Emanuela RUGE-MURCIA, Francisco J.
Durable Goods, Inter-Sectoral Linkages and Monetary Policy by BOUAKEZ, Hafedh CARDIA, Emanuela RUGE-MURCIA, Francisco J.
Monetary Policy by Committee: Consensus, Chairman Dominance or Simple Majority? by RIBONI, Alessandro RUGE-MURCIA, Francisco J.
Preference Heterogeneity in Monetary Policy Committees by RIBONI, Alessandro RUGE-MURCIA, Francisco J.
The Dynamic (In)efficiency of Monetary Policy by Committee by RIBONI, Alessandro RUGE-MURCIA, Francisco
THE TRANSMISSION OF MONETARY POLICY IN A MULTISECTOR ECONOMY by Hafedh Bouakez Emanuela Cardia Francisco J. Ruge-Murcia
Do Inflation-Targeting Central Banks Implicitly Target the Price Level? by RUGE-MURCIA, Francisco J.
Monetary Policy When Wages Are Downwardly Rigid : Friedman Meets Tobin by KIM, Jinill RUGE-MURCIA, Francisco J.
Do Inflation-Targeting Central Banks Implicitly Target the Price Level? by RUGE-MURCIA, Francisco J.
Factor Analysis of a Large DSGE Model by ONATSKI, Alexei RUGE-MURCIA, Francisco J.
Durable Goods, Inter-Sectoral Linkages and Monetary Policy by BOUAKEZ, Hafedh CARDIA, Emanuela RUGE-MURCIA, Francisco J.
The Transmission of Monetary Policy in a Multi-Sector Economy by BOUAKEZ, Hafedh CARDIA, Emanuela RUGE-MURCIA, Francisco J.
Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin by KIM, Jinill RUGE-MURCIA, Francisco J.
Sectoral Price Rigidity and Aggregate Dynamics by BOUAKEZ, Hafedh CARDIA, Emanuela RUGE-MURCIA, Francisco J.
Factor Analysis of a Large DSGE Model by Alexei Onatski Francisco J. Ruge-Murcia
Estimating Nonlinear DSGE Models by the Simulated Method of Moments by Francisco J. Ruge-Murcia
Durable goods, inter-sectoral linkages and monetary policy by Bouakez, Hafedh Cardia, Emanuela Ruge-Murcia, Francisco J.
Dissent in Monetary Policy Decisions by Alessandro Riboni Francisco J. Ruge-Murcia
Methods to Estimate Dynamic Stochastic General Equilibrium Models by Ruge-Murcia, Francisco J.
Monetary Policy by Committee: Consensus, Chairman Dominance or Simple Majority? by Francisco Ruge-Murcia Alessandro Riboni
Monetary policy when wages are downwardly rigid: Friedman meets Tobin by Kim, Jinill Ruge-Murcia, Francisco J.
Estimating nonlinear DSGE models by the simulated method of moments: With an application to business cycles by Ruge-Murcia, Francisco
Estimating Nonlinear DSGE Models by the Simulated Method of Moments by Francisco J. Ruge-Murcia
Dissent in Monetary Policy Decisions by RIBONI, Alessandro RUGE-MURCIA, Francisco J.
Skewness Risk and Bond Prices by RUGE-MURCIA, Francisco J.
Factor Analysis of a Large DSGE Model by ONATSKI, Alexei RUGE-MURCIA, Francisco J.
Estimating Nonlinear DSGE Models by the Simulated Method of Moments by RUGE-MURCIA, Francisco J.
Dissent in Monetary Policy Decisions by RIBONI, Alessandro RUGE-MURCIA, Francisco J.
Estimating Nonlinear DSGE Models by the Simulated Method of Moments by RUGE-MURCIA, Francisco J.
FACTOR ANALYSIS OF A LARGE DSGE MODEL by Alexei Onatski Francisco Ruge‐Murcia
Sectoral price rigidity and aggregate dynamics by Bouakez, Hafedh Cardia, Emanuela Ruge-Murcia, Francisco
Methods to Estimate Dynamic Stochastic General Equilibrium Models by RUGE-MURCIA, Francisco J.
Dissent in monetary policy decisions by Riboni, Alessandro Ruge-Murcia, Francisco
Do Inflation-Targeting Central Banks Implicitly Target the Price Level? by Francisco Ruge-Murcia
Indirect Inference Estimation of Nonlinear Dynamic General Equilibrium Models : With an Application to Asset Pricing under Skewness Risk by Francisco RUGE-MURCIA
Generalized Method of Moments estimation of DSGE models by Francisco J. Ruge-Murcia edited by
Monetary Policy by Committee: Consensus, Chairman Dominance, or Simple Majority? by Alessandro Riboni Francisco J. Ruge-Murcia
Skewness Risk and Bond Prices by Francisco Ruge-Murcia
Collective Versus Individual Decisionmaking : A Case Study of the Bank of Israel Law by Francisco RUGE-MURCIA Alessandro RIBONI
Extreme Events and Optimal Monetary Policy by Jinill KIM Francisco RUGE-MURCIA
Collective versus individual Decision-Making: A case study of the Bank of Israel Law by Ruge-Murcia, Francisco Riboni, Alessandro
The SSM at 1 by 26 authors Luc Laeven Mario Draghi Andreas Dombret Ignazio Angeloni Sergio Nicoletti-Altimari Felix Hufeld Ludger Schuknecht Hendrik Ritter Christian Thimann Josef A. Korte Sascha Steffen Emilio Barucci Roberto Baviera Carlo Milani Giacomo Calzolari Jean-Edouard Colliard Gyöngyi Lóránth Ulf Mohrmann Maximilian Muhn Martin Nienhaus Jan Riepe Angela Maddaloni Alessandro D. Scopelliti Anna Damaskou Giannoula Karamichailidou David G. Mayes Hanno Stremmel edited by Jens Ulbrich, Carl-Christoph Hedrich and Morten Balling
Extreme Events and Optimal Monetary Policy by Francisco Ruge-Murcia Jinill Kim
Extreme events and optimal monetary policy by Jinill, Kim Ruge-Murcia, Francisco
Skewness Risk and Bond Prices by Francisco Ruge‐Murcia
Canadian inflation targeting by Paul Beaudry Francisco Ruge-Murcia
Deliberation in Committees : Theory and Evidence from the FOMC by Alessandro RIBONI Francisco RUGE-MURCIA
Asset Prices in a Small Production Network by Francisco RUGE-MURCIA
Editors introduction: The renewal of the Canadian inflation-control target by Francisco Ruge-Murcia Alexander L. Wolman
EXTREME EVENTS AND OPTIMAL MONETARY POLICY by Jinill Kim Francisco Ruge‐Murcia
Mind-changes at the FOMC by Riboni, Alessandro Ruge-Murcia, Francisco
Canadian inflation targeting by Paul Beaudry Francisco Ruge‐Murcia
Central banking and monetary policy: Which will be the post-crisis new normal? Abstract: Central Bankers are currently facing big challenges in designing and implementing monetary policy, as well as with safeguarding financial stability, with the world economy still in the process of digesting the legacy of the crisis. The crisis has changed central banking in many ways: by shifting the focus of monetary policy from fighting too high inflation towards fighting too low inflation; by prompting new ‘experimental’ non-conventional measures, which risk to cause large, long-lasting market distortions and imbalances and which also have more far-reaching distributional consequences than ‘normal, conventional’ monetary policy; and by broadening central banks’ responsibilities particularly in the direction of safeguarding banking stability and financial stability at large. This raises several questions for the future: How long will ultra-easy monetary policies last? What are post-crisis growth trajectories, and how will the natural rate of interest rates evolve? How could an exit from ultra-easy monetary policy and a return towards higher nominal interest rates be eventually managed smoothly? Does ultra-easy monetary policy itself affect the economy in a lasting and structural way? Is the pre-crisis economic paradigm governing monetary policy still valid? If not, in what ways should it be adjusted? Are there any reasonable and practical alternatives? Against this background and given the larger post-crisis range of central banks’ responsibilities: is the current institutionalset-up governing central banks and their relationship to government, Parliament and the financial system still appropriate? What adaptations might be considered? Would they bring an improvement or, on the contrary, a set-back to the unsuccessful policy approaches of the 1960s and 1970s? by 20 authors Howard Davies David Miles Forrest Capie Alex Cukierman Jakob de Haan Sylvester Eijffinger Charles Goodhart Ronald Mahieu Aleksandra Maslowska-Jokinen Anna Matysek-Jedrych Martin Melecki Bilin Neyapti Fabio Panetta Anca Maria Podpiera Louis Raes Alessandro Riboni Davide Romelli Francisco Ruge-Murcia Pierre Siklos Jan Egbert Sturm Geoffrey Wood edited by Ernest Gnan and Donato Masciandaro
Editors’ introduction: The renewal of the Canadian inflation‐control target by Francisco Ruge‐Murcia Alexander L. Wolman
The Power of the Federal Reserve Chair by Riboni, Alessandro Ruge-Murcia, Francisco J.
The Dynamic (In)Efficiency of Monetary Policy by Committee by ALESSANDRO RIBONI FRANCISCO J. RUGE‐MURCIA